8214 Colonial Oaks Lane Spring, Texas 77379 December 20, 2001 Mr. Harry Arora Regarding: energy trading positions I am writing to you to express my desire to be apart of the Wholesale Power and Gas Trading operation that will potentially be created with an entity that has a high credit rating. I have been working for Rogers Herndon in Enron Wholesale Services on the Options Desk. In this role I have modeled the power options that are embedded in the various deals done through Enron Energy Services with large industrial and commercial clients. In addition, I profitably managed the positions and priced deals for structurers and originators. I realize that now is a difficult time but am confident that I would make an excellent addition to your team for several key reasons: ? Proven experience in the financial markets and direct trading experience in various markets, including electricity and natural gas, mortgage backed securities, U.S. Treasury securities, foreign exchange, EuroCurrency and EuroDollar deposits ? Team player and high work ethic, successfully balancing trading opportunities with managing risk ? Solid portfolio management and risk management experience in electricity and mortgage banking ? Five years direct experience in trading, risk management, structured products and marketing of electricity for the United States ? Actively involved in the physical markets and strong understanding of the western grid ? Experience trading OTC forwards and options at major hubs in other NERC regions such as Cinergy, Entergy, ERCOT, NEPOOL and PJM ? Worked for both unregulated power marketers and regulated utility ? Extensive experience in derivatives and structured products ? Ability to effectively work with marketers pricing and structuring deals for industrial and commercial end users of energy ? Strength in mentoring junior traders Thank you,
Q: What is a potential subject line for this email?
answer: Wholesale Power and Gas Trading operation with new entity
I could not believe my ears when I heard from Ms. Heard that you are working covertly behind the scenes to ensure a Broadband win to the signed master competition. I would think that Credit would have no biased interest in the outcome of this race. Could such slanderous allegations be true?
Answer: Undue Influence
Here is an email: Agustin, I am trying to confirm the counterparty on one of your deals so that it can be properly assigned in TAGG. The ticket for the deal in question reads Barcel Mexico. However, I spoke recently with Beatrice Reyna who informed me that you believed the counterparty to be one of the Bimbo companies. If you wouldn't mind looking into this and getting back to me with the correct counterparty name it would be much appreciated. Thanks,
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A: Deal # NW8903 (legs 5 & 6)
Q: Thanks for hosting, Kim. Jackie mentioned the list of tasks that remain to get this done (e.g., graphs, make spreadsheet pretty, write-up, etc.). I'lll do whatever needs to be done, so once folks have picked which task they'd like to take on, just let me know what's left. Or if there's another way folks would like to divvy up the chores, that's great, too. Have a great weekend. See you Monday. Jackie, could you email the latest version around when you get a chance? Thanks.
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A: StadiumS
IN: Real time desk is short 5 mw HE 1-24 on Saturday 7/14 thru Monday 7/16 at Hot Springs to Cenex (a middle marketing customer in MPC control area.) This power can be filled with the Frontier Energy if you chose and give them prevailing Mid C price . If you fill it with the Frontier just use the account number for MPCO that is in the Frontier sheet when you call BPA. If not pruchase this power at Hot Springs as I have told Cenex we will be delivering it there. In any event Real Time MUST CALL MPCO AND INFORM THEM AS SOON AS YOU KNOW WHERE YOU ARE FILLING THIS FROM. I have already discussed this with Mike at MPC and they are aware that we are purchasing on behalf of Cenex but you still must call. We are short at the follwing prices: 7/14 Short 5MW at $55 HE 1-24 7/15 Short 5MW at $50 HE 1-24 7/16 Short 5MW at $60 HE 1-24 If you have any questions please feel free to call me on my cell.

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OUT: Short at Hot Springs 7/14 thru 7/16
IN: This is an email
Sir, Before I start, let me introduce myself. My name is Thirumalesh Aedunuthula. I had the pleasure of interning with Enron, this summer. I am a MBA student at Louisiana State University and worked with Enron Tax department. Over the past few weeks, things have changed for Enron at a faster pace than expected/imagined. To some, it is amazing how stock fell from $90 to 26 cents just in a year. People have been attributing lot of things for the fall, from California crises to international deals, without actually taking time to find out what went wrong with Enron . As an intern, I had the opportunity to feel the work culture of Enron. I felt that Enron is making profits not because it is in Energy Industry but because of energetic people like you and Mr.. Jeff Skilling and many others. I strongly believe that greatest asset with Enron is its talent pool, which made the company what it is today. Today, we have a discussion on Enron's Crisis in class. I know, for sure, that many would be interested in voicing their opinion against Enron. I would go to class and take the side of Enron. I might be in minority. But that doesn't matter, as to understand what Enron is, one has to really experience it. Hoping that Enron will really climb back, much faster than its fall.... Yours Truly,

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OUT:
A mail from an Intern