BUSINESS HIGHLIGHTS Enron Industrial Markets EIM has recently formed a Forest Products Origination team led by Rob Saltiel to pursue structured transactions. Typically, these deals employ a combination of physical supply/offtake, price risk management and/or finance to bring value to Enron and our customers. Priority commodities include pulp, newsprint, recycled papers, linerboard, and lumber. Response to the new team's efforts has been positive, as many of the Forest Products companies have needs for commodity and capital solutions that are currently unavailable. Enron Freight Markets During its first month in the over-the-road (OTR) trucking business, Enron Freight Markets has completed over 120 spot OTR trades. On Friday, March 18, there was a shortage in the Houston outbound market and capacity was selling for $1.65 per mile. By comparison, average market price has stayed in the $1.05-$1.10 per mile range in recent weeks. EnronOnline On May 23, Enron Corp. announced that it completed its one-millionth transaction on EnronOnline, the world's largest web-based e-commerce platform for commodities. As an online extension of its successful wholesale energy business, EnronOnline began transacting natural gas and electricity on November 29, 1999. Since that time, the company has extended the platform to approximately 1500 wholesale commodity products ranging from energy-related commodities to bandwidth, metals, forest products, plastics, petrochemicals, and weather and credit derivatives. Approximately 60 percent of all Enron transactions are now conducted online, and the cost of processing the transactions has been reduced by 75 percent. EnronOnline Statistics Below are the latest figures for EnronOnline as of May 23, 2001 ? Total Life to Date Transactions > 1 million ? Life to Date Notional Value of Transactions > $600 billion IN THE NEWS Enron Corp. Chief Executive Officer Jeff Skilling likes to say that the nation's leading energy merchant was ready for the Internet long before there was anything.com. Enron's business of buying and selling commodities - by phone or fax - was a natural fit for the Web. The challenge now is to get the new broadband Internet trading unit on solid footing by proving that bandwidth can be traded like a commodity. BusinessWeek e.biz/May 14,2001. WELCOME New Hires EGM - Gregory Sharp, David Cho EIM - Rosie Carrizal-Moulinet, Thomas Mathieu ENA - John Poppa, Brandy Powell Transfers (to or within) EGM - Rhonna Palmer NUGGETS & NOTES Travel tips of the week: 1) Fly Coach. Elite members of frequent flyer programs are often upgraded to first class at no additional charge. 2) Consider Alternate Airports. If you live within driving distance of two or more airports, examine fares for each airport carefully. Sometimes special fares are offered for flights into specific airports. LEGAL STUFF The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries. It is intended for internal use only and should not be disclosed.
Answer: EnTouch Newsletter
Here is an email: During this critical time, it is imperative that our management team remain focused on our business and continue to address the challenges currently facing our company. For that reason, I have decided to postpone the Enron Management Conference. The Conference will now be held Friday, February 22 - Saturday, February 23, 2002 at the Westin La Cantera Resort in San Antonio. While the Saturday meeting allows some Enron executives who cannot be away from the office during business hours to attend the Management Conference for the first time, I also recognize that it requires many of you to forfeit additional personal time on behalf of Enron. I truly appreciate your sacrifice and I sincerely encourage your attendance. The new agenda, while still being finalized, will be abbreviated but every bit as informative and worthwhile as previously planned. We'll be in touch soon with more details. Regards,
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A: 2001 Management Conference
Q: Mike, Jeanne: Have you heard anything about any relief on penalties that the PUC might have recently granted interruptible customers? (Recall that Loretta has refused to allow folks on interruptible to get off those contracts.) Could you let me know as soon as you find something out? Thanks. Best,
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A: URGENT!!! I-6 penalty charges
IN: Mark, you may recall my memo to you in April, 1999 which indicated that for netting purposes, the conditions included: 1. The transaction must be governed by a market standard master agreement or occur on a French regulated market 2. One of the parties must be (a) an "investment firm" within the meaning of the law of 2nd of July, 1996, (b) an instituion or firm benefitting from the provisions of article 25 of the Law or (c) a non-resident entity having a "comparable status" The term "investment firm" embodies financial type institutions which recieve and transmit order for financial instruments for third parties. There are 12 categories of article 25 firms (including Bank of France, insurance companies, broker types, etc.) .For example, one murky designation includes "persons who supply an investment service which is ancillary to their professional activity, provided the rules governing such activity do not prohibt the carrying on of investment services". Slaughter and May has advised that they could assist us in determining whether our French counterparty fit this category and it definitely needs to be discussed with the counterparty (and extract a rep from them as well). There are other categories as well. I have a copy of the law if you would like to review. The non-resident entity having "comparable status" is the category WE were trying for fit into without much success. Tana tells me that I have given you misinformation. Perhaps the law has changed and Justin has a recent update. ENA has a Soc Gen master, and we have recently sent a Deemed ISDA to a French corporate (one shot deal only).

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OUT: Derivatives trading in France
Something like this might be appropriate to send to the larger weekly group...please edit, revise, etc.. The first group of trading contracts will go out to 77 companies for a total of 168 counterparties (most companies have multiple entities). This group obviously does not include everyone, but we have most of our major relationships (and it is the official list that has been submitted to UBS for credit approval.) The general marketing plan is as follows: - Contact all customers this week to tell them about UBS Warburg Energy - Get contract packages in front of First Priority counterparties this week - Arrange meetings or follow-up calls as appropriate - Dave Forster and the ubswenergy.com team will be sending out online PA packages to all parties later this week (so it is important to have contacted all customers) - Once the initial wave of contracts is out and review/negotiations are uderway, we will submit a Second Priority list for credit approval The attached file has all of the First Priority counterparties, along with names for gas, power, online, credit and legal. In addition, we have columns for describing the type of agreement and its status (not pursuing, incomplete, done). Please complete and/or edit the attached and forward to either Debra Bailey or Lloyd Will. If you think you should take the lead on a particular counterparty, call up the other marketer and work it out! Progress on this effort will be reviewed during our twice-weekly calls.
Answer:
UBS Warburg Energy - First Priority Trading Agreements