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I would see the primary responsibilities: 1. Develop with Fallon a written process for the valuation of terminated contracts. We will most likely only have Bjorn for a short period of time given his reluctance to go to NETCO. While no one appears to care about the fact that we have no way to render a correct value for financial statement purposes, this would be a priority if I was managing the estate. There is no metric for the approval of comprises internally. Our curves say one value, the counterparties quotes say another. Differences in value may be a better metric that notional settlement amounts. 2. With IT, assure that the terminated contracts are frozen in value. The book is currently floating, rendering an open position which is unmeasured as to VaR. Examine ways, if any, to manage this uncovered market risk. 3. Valuation of assets held for sale and DASH process. It would appear that we should work backwards from the summary of sale that the Unsecured Creditors Committee wants. There have already been complaints about multiple forms (DASH, transaction review committee for). This would require revamping the DASH process and TAP. 4. Revaluation of International assets. 5. To the extent EES performs post petition, value this book and the associated ongoing costs associated with it. 6. My understanding is that the billing on performing accounts is behind. Manage and develop a process to collect these past due amounts. Collectibility does not improve with time. 7. Ongoing review of business unit's cash requests. 8. Develop a systematized IT solution to payments and transfers made 90 days prior to bankruptcy (in process). 9. Manage the bankrupt counterparty portfolio. 10. Collect amounts owed by PG&E and So Cal Edison ($545 million notional). 11. Maintain a pipeline report.

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OUT: Oldco RAC

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January 24, 2002 Dear John Lavorato, Hunter Shively, Andy Lewis, and Chris Gaskill: I regret to inform you that I will be resigning from the new Enron/UBS Warburg venture and will await further direction in the effort to fulfill my current obligations. It is definitely with a bit of sadness that I have arrived at the conclusion to leave the new Enron/UBS Warburg venture, but I believe that it is in the best interest of my young career. In addition, after signing a UBS offer letter I have realized over the last two days that given my current assignment it would be very difficult for me to continue to be motivated and to produce in the manner that would please both management and myself. Therefore I believe it is in the best interest of both parties that I leave the new Enron/UBS Warburg venture. Although this decision was not an easy one for me to make, I have decided to pursue other opportunities. I am extremely grateful for the opportunities I have been given here in this organization and for the investments that both you as individuals and the organization as a whole have made in my personal career development. I believe I have worked hard at Enron and I trust that I made significant value adding contributions. It is because of my experience here and the tutelage that all of you have given me that I have my current knowledge and opportunities. I am very grateful for all of my experiences here at Enron/UBS Warburg, and I would like to personally thank all of you guys upon your return from Connecticut. I will also make a concerted effort to maintain contact with all of you. UBS Warburg Energy will certainly be a successful organization and I wish you all the best of luck with the exciting challenge of rebuilding this great business. I await your direction upon receiving my intention to resign, and I offer my services in order to make the process as smooth as possible. Sincerely,

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OUT: Denver Plachy

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Monday February 4, 9:07 am Eastern Time Press Release SOURCE: Maritimes & Northeast Pipeline, L.L.C. Maritimes Files Application for Phase IV Expansion Of Natural Gas Pipeline System BOSTON, Feb. 4 /PRNewswire-FirstCall/ -- Maritimes & Northeast Pipeline, L.L.C. has submitted an application to the Federal Energy Regulatory Commission to further expand its natural gas pipeline system. The $250 million expansion project, designated Phase IV, will allow Maritimes to nearly double its capacity to transport natural gas from offshore Nova Scotia to markets in the northeastern United States from approximately 415,000 dekatherms to 800,000 dekatherms per day.

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OUT:
Maritimes Files Application for Phase IV