IN: Attached please find the documents relating to the Swapco structure. We are still working on the employee assignments pending our review of form employment agreements tomorrow. Regards,

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OUT: Swapco Documents

IN: The information contained herein is based on sources that we believe to be reliable, but we do not represent that it is accurate or complete. Nothing contained herein should be considered as an offer to sell or a solicitation of an offer to buy any financial instruments discussed herein. Any opinions expressed herein are solely those of the author. As such, they may differ in material respects from those of, or expressed or published by on behalf of Carr Futures or its officers, directors, employees or affiliates. ? 2001 Carr Futures The charts are now in the most recent version of Adobe Acrobat 4.0 and they should print clearly from Adobe Acrobat Reader 3.0 or higher. Adobe Acrobat Reader 4.0 may be downloaded for FREE from www.adobe.com. (See attached file: opec.pdf)

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OUT: opec basket of crude

IN: Per our discussions yesterday, the Omaha and Enron Center North bldgs. are owned by trustees and leased to us. I have always heard these referred to as synthetic leases (and thus off balance sheet) , but I am not expert enough to absolutely confirm that they truly are. Attached is the summary information on those leases. Please call if you have any questions. Obviously, we would consider our landlords to be critical vendors.

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OUT: Omaha and Houston headquarters bldg. lease summary

IN: I am hosting drinks at my home and dinner at Champions Golf Club on Saturday, May 5 for my operations team and their spouses. Greg and I talked about this today. He asked me to e-mail you so that you could put this on his calendar and said that you would e-mail his wife to check the date as well. If he and his wife are available, I will let you know details as it gets closer. Thanks for your help. --Sally

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OUT:
For Greg's Calendar - Dinner with Operations Team