Problem: BODY: Lou/Gerald My understanding is that Bridgeline is a pipeline joint venture in which we own a 40% equity interest (but share control 50/50). The other owner is Texaco. Earlier in the year, we were looking at trying to sell our interest but there is a ROFR in the Contribution Agreement which restricts our ability to do this. I believe that the ROFR expires in March or April of next year and am curious to know what impact ENA's bankruptcy may have on this ROFR. In other words, will the bankruptcy filing have the effect of invalidating the ROFR? The answer may depend on the actual owners of Enron's equity interest. Gerald - would you please provide any information about Bridgeline that may be helpful in answering these questions and also confirm the information provided above. While this is not a fire that needs to be put out immediately, there are a number of issues relating to Bridgeline that should be dealt with simultaneously (and some of those other issues do require more immediate attention). Thanks in advance for your assistance. Stuart
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A: SUBJECT: Bridgeline

Problem: 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:
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A: SUBJECT: Moody's Basis for Placing Enron Securities on "Review for Downgrade"

Problem: BODY: Hello. I would like to receive a brochure and room rates for 2001. I visited your website and it looks wonderful. Please send the info to Kay Mann, 29 Inverness Park Way, Houston, TX, 77055. Thanks,
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A:
SUBJECT: Information