Subject: "City of Pasadena".

Body: Kim: I have completed the invoices for April, May and June and we owe Pasadena each month for a total of $3,615,910.62. I am waiting to hear back from Patti on May and June to make sure they are okay with her. Do you want me to pay Pasadena on Friday for these months or do you want me to hold off until I finish July and August? Again, I do not have all of the information for July and August, so I cannot give you any numbers. If I go by what is currently in the system as a guide, Pasadena would owe Enron a little over $1 mil. I need to forecast the money today, so please let me know what you would like to do. FYI-I will be out of the office all next week. Megan

Subject: "Lunch with IT and credit".

Body: Tanya, Can you coordinate, in my absence, the lunch with IT and credit. We need the body count and reservation at the restaurant for the 14th. Vince

Subject: "Contract".

Body: Hi Mike, Sorry I missed you when you returned by call this am. I have some concerns about the voice mail you left re: assignment language. Enron can't stay on the hook for payment if the agreement is assigned, as this would bust the financing/accounting arrangement. What we have tried to do to meet your concerns is to see that ABB has a contract with a party which is as financially sound as Enron by adding the guaranty language. This addresses ABB's request that the party with the payment obligation have the "financial wherewithall" to make the payments. This is a big change from where we were in the last contract. I've had a request to get an approximate storage cost (monthly) for budgetary purposes. This is in connection with the buy back arrangement. Can you give me a guesstimate? Thanks,

Subject: "Agreements".

Body:
Claire, In response to my phone message of 1 February, 2001, attached are two agreements for your review. First is a GISB revised in acceptable form to ENA. I have incorporated UGI's Special Revisions into ENA's save number (3). Also, with regards to number (2), "three business days" has been changed to "five" and revisions to the last two sentences. Finally, also attached is a draft of ENA's Master Firm Purchase/Sale Agreement. Upon your review, please give me a call to discuss the attached. Regards,