Here is an email: <<IPW091701.pdf>> Good Morning, Our deepest sorrow and sympathy goes out to all those who have lost loved ones and have suffered because of last Tuesday's national tragedy. For those investors that are interested in understanding how last week's tragedy might impact the sector we attached the latest issue of our Independent Power Weekly and offer the following thoughts: 1. Framework for Analysis From a broader equity market perspective, the analytical challenge for investors is understanding how the prospect of slower economic growth will impact the outlook for corporate earnings. Another area for analysis is understanding how the negative impact of a slowing economy will be offset by falling interest rates. 2. Sector is Well Positioned Relative to the Market On both fronts, we believe the power generation sector is well positioned relative to the broader market. Compared to the rest of the market, the growth prospects for the industry are clearly less sensitive to economic conditions. Providing support for this view, in 1991, when real GDP declined 0.5%, electricity demand increased 2.0%, which compares with a 2.2% annual growth rate from 1990-2000. In addition, we believe the sector will benefit disproportionately from falling interest rates. 3. Current Valuations Offer Downside Protection Current valuations for the sector offer downside protection relative to the market. On average, the
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A: CSFB Independent Power Weekly--Issue #43
Q: This email is to let you know that the October 2001 version of NEWGen is available for download on www.rdionline.com. If you do not want to receive this email please reply with unsubscribe me as the subject line. Thank You,
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A: NEWGen October Release
IN: I do not know if this email will find your eyes or not.... I just wanted to tell you, as a shareholder, since we are in a difficult time period, to PLEASE continue to keep your chin-up, and look at this "storm" as a time to be strong and use your courage to make the tough decisions to keep Enron afloat...and utilizing all your strength and prayers...you will be able to lead ENRON to safe harbors once again. Do not let the negative media effect you, please keep pushing forward, and you will be successful. This adversity will prepare you and strengthen you for the "perfect storm" we will run into throughout our existence... Thanks for listening... PS Back in during the Econmic Summit here in Houston, you met my daughter Sophia, and she wrote to you, and you took the time to write her back about 11 years old... well now she is 21 and a major in PR/Communications at BYU in Provo, UT, and on November 20th at 3:00 PM she has decided to marry to Jacob Little in Utah..

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OUT: Sophia
IN: This is an email
VaR for total power has decreased from $41.9 M to $38.7M. VaR for the west desk has decreased from $22.7 to $21 Decrease in var for the west desk is due partially to decrease in intra month vol curves (significant change in Aug component var for the NW-LT and NW-ST books) and decrease in overall short position. Minal

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OUT: West VaR Reports
QUESTION: This memo follows up on our discussion this morning. With respect to the 15 million of increased VAR that the Board allocated to Rick Buy and Jeff Skilling I propose the following: 1. 5 Million be allocated to EES and therefore remove EES's positions from the Wholesale gas and power groups (This has already been done). 2. Move the control and decision making of 5 Million of VAR each to the trading heads of North America (Lavorato) and Europe (Sherriff). 3. With respect to North America I intend to create a group called the "Cross Commodity Trading Group" which will warehouse the 5 Million of VAR and use it as it sees fit (I will run this group and currently be the only employee). This will start out as an administrative structure to use if we need to throw more VAR at certain positions (I see the individual trading groups staying within their VAR limits). However, I do see the need for a true cross commodity group that would search for low risk / high probability trades accross the commodities that we trade. This structure may help to start us down this path. Please let me know what you think. John
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ANS: VAR
IN: Rose: Please email to me the latest draft of the ISDA Schedule/Paragraph 13 so that we can comment. Also, information about your outside Bahamian counsel would be appreciated. Thanks.

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OUT:
Moore Global Investments, Ltd.