Subject: "TXU Energy Trading Company".

Body: Attached for your approval is the form of Enron Corp. Guaranty in favor of the referenced Counterparty, which guarantees the obligations of ENA under an ISDA Master Agreement. This Guaranty will supersede and replace the guaranty previously given to Counterparty (formerly known as Enserch Energy Services, Inc.) dated as of December 16, 1996. We will need the standard executed copy. In addition, we will need the following closing documents: Certificate of Incumbency. Upon approval and execution, please call me at x33399 to pick up the documents. Thank you for your assistance in this matter.

Subject: "Budget Revision 2002 for RAC".

Body: Hi Rick: I noticed that you were online. Have you had an opportunity to look at the budget numbers. Corp called and wanted to get them so they could start building their spreadsheets for the Lay presentation. They said we could still revise it up to Friday. I wanted to get your ok to send the numbers to them. Thanks Rick C.

Subject: "Final report from the Cal PX on the summer prices".

Body: Here's one that's "final," not draft, that just came out. I'm assuming that this is the one the press is refering to. Let me know that you think.

Subject: "Wellhead Master".

Body:
Gerald, The Upstream group is doing a considerable amount of repeat business with several customers. There is an increasing need to execute Master agreements with these customers. We would like to begin the development of a Master Wellhead contract that includes the same type of provisions that our Upstream GTC contracts include such as tolerances, keep whole, nomination deadlines, etc. Can you please let me know if you see any issues with changing the Master Firm contract to accomodate the Upstream business or if there is anything else that you may need from us to begin creating this Upstream Master? Thanks,