Q: Attached is the ERMS Discounting Memo as of 9/26/01. Please note that the 9/26/2001 balance is based on the new method of calculating the discounting amount. The changes that were made are as followed: Old method New method Physical contract 55 days 55 days Financial contract 55 days 5 days Financial calendar 55 days 38 days Please let me know if you have questions. Thanks
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A: ERMS Discounting Memo

Q: We have received the executed First Amendment to ISDA Master Agreement dated as of April 10, 2000. This amendment revises the ISDA Master Agreement with the referenced counterparty to bring the agreement up to current form standards with changes including, but not limited to: 1. Adding the Canadian Securities Acts representation; 2. Making certain changes to elections with respect to Payments on Early Termination and amending the Setoff language; 2. Makes changes to certain credit provisions, including letter of credit provisions, the form of letter of credit, the Independent Amount,, and amends the definition of "Material Adverse Change" . Copies will be distributed.
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A: National Bank of Canada

Q: Steve, please call Jeff and go through in detail how we got to our valuation of approximately $39 M. Please ensure that this is a reasonable facsimile of value that ENA would accreate over the short to medium term assuming your continued management. Let me know where you end up. Regards
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A: C-Gas

Q: Hi Everybody. You may find yourself running into to two new employees here in the San Francisco office. Dennis Yee has taken up residency in the back, by the EES printer/fax at extension 7852. He was in the San Ramon office, but decided to make his new home here with us in SF. Dennis is a construction manager with the Enron Facility Services group (EFS). Also, Anthony Barr will be tackling the task of working for me as my new clerk, please stop by and give him your condolences. He will be sitting in the cube directly behind me, and his extension is 7818. Please stop by and introduce yourself to both. Thanks,
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A:
New faces in the office