Subject: "cost cutting measures - from an Employee/shareholder point of view".

Body: Dear All, The business units are operating on a lean G&A budget and cut costs whenever we can and making sure that we are efficient. Are there any initiative to do likewise for all corp functions? As an accountant in the business unit, we received corp allocations. The total for corp was more than $700MM. This, of course, excludes Enron Net Work, Enron Property, and Global Finance, which if we include those, the G&A to Enron could well be over $1Billion (not counting the business units G&A). The number just blew me away. I think we need to make sure all functions are needed and are run efficiently. We cannot say it's OK just because we can allocate to the business units because the business units may not receive benefits for these costs. We sure don't want Enron, as a whole, to be growing so fat and so fast that it will hurt our bottom line. I'm sorry if I'm out of line, but I really do care about Enron and am very proud to be its employee. Thank you for your time.

Subject: "Goldman, Sachs & Co. ("Goldman") Client Access Agreement, Schedule A and Request for Password ID".

Body: Susan: I would like to have this agreement (all three parts) executed early Monday and faxed to Goldman. Gary Hickerson can sign for Enron North America Corp. together with Ted Murphy as the second signatory. Please prepare an addendum or annex for the Client Access Agreement with the following inserts for Paragraph 9: INSERT 1 to Paragraph 9(g) after the word "enjoined": "upon proof of any such breach" INSERT 2 which will replace the second and third sentences in Paragraph 9(h) : "Any dispute between the parties relating to this Agreement shall be resolved pursuant to the ARBITRATION provision contained in Schedule A to this Agreement." For purposes of the password ID application, we must verify that Harry Arora is still authorized to trade for ENA (and employed by ENA). Roy Ibasco is coordinating for Harry. After signing, we can fax to Goldman and I have the fax info. Thanks. Sara

Subject: "Moody's Basis for Placing Enron Securities on "Review for Downgrade"".

Body: In order to ensure that our communications with the investment community are consistent, Stephen Moore of Moody's and I have agreed to publicly state the following as it pertains to the Moody's rating action taken today: Full Review To Occur - The action is intended to be the catalyst for a full review of our business operations to occur in the coming months. The company's appropriate rating will be determined during this time frame; Primary Areas of Concern - Moody's will be focusing on the following items during the review: Potential Future Equity Write downs: Dhabol California Broadband Fiber Network Wessex/Azurix Slow Progress in Asset Sales - we have been discussing sales for the past 18 months with limited closings Material Working Capital/Margin Expansion - has resulting in negative cash flow from operations The Equity Adjustment - Moody's was unaware of the potential of an equity adjustment of this magnitude Please let me know if you would like to discuss any of the points in detail. Regards:

Subject: "Agency Agreement".

Body:
Per Barry's request, attached is the Agency and Management Services Agreement to be executed between Enron North America Corp. and Mexicana De Cobre. Also attached is the form of agency agreement to be attached as Exhibit B to the Agency and Management Services Agreement. This agency agreement is El Paso's form and must be executed by ENA, Mexicana, and El Paso. The El Paso form requires that you open as a read only file. Please review. We are working on the gas purchase agreement and should forward shortly. We received the power of attorney and bylaws you emailed. I had a Spanish speaking attorney in our office assist me with their review. The bylaws look fine. We would like you to follow up with a certified copy in the mail. For now can you confirm via a response to this email, that these are the latest bylaws on file? He noted that under the Power of Attorney, it would be required that two of the gentlemen listed on page 2 of the power of attorney documentation, execute our agreements. Can you confirm? Would be happy to discuss this with you. Thank you for your cooperation.