Subject: "Confirmation of Management Committee Offsite - Wednesday, October 24, 11:30a - 5:00p".

Body: Management Committee Offsite Wednesday, October 24 11:30a - 5:00p Four Seasons Hotel, Whitney Room Lunch will be provided An agenda will be distributed prior to the meeting. Please call if you have any questions. Thanks,

Subject: "Argentina and Brazil tax assignments".

Body: Have you decided who will be assisting tax-wise for these two countries? I have a conference call this afternoon at 3 pm (Houston time) with Antonio Felix de Araujo Cintra from the Tozzini firm regarding further research on derivative products for trading in Brazil. Attached is a summary of products and the various Enron groups seeking answers. If you would like to participate in person or by conference, please let me know. I will be in Sao Paulo from Sept 20-22 and Buenos Aires from Sept 23-24. In Brazil, I will be meeting again with Tozzini lawyers. In BA, I'll be meeting with Marval lawyers. Let me know if you would like to participate in any way. Sara

Subject: "Real Options Research...".

Body: Dear Mr. Kaminski, Hello, I am producing this year's 'Real Options Training Course' on behalf of the Risk Waters Group in NY. I am very interested in hearing your comments and suggestions regarding the issues surrounding real options, in addition to hearing what type of research Enron has been doing with real options (as well as a possible speaker position). Thanks again, I look forward to speaking with you. Best Regards,

Subject: "Let's Party".

Body:
I have decided to sell my entire 401k and spend the money on beer. If you chip in your 401k, and if we act quickly, I think we could get a full case of the good stuff. What do you think about that plan? Paul