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Please distribute the following message to all of Enron Wholesale Services= =20 this evening. Please use the Enron Global Markets - Office of the Chairman= =20 letterhead. Please send a copy of the message to Cathy Phillips (X-36898)= =20 for review prior to the message being distributed. Thank you. Enron Global Markets ended the year with a great deal of momentum and with= =20 very high expectations for 2001. In order to better focus and expand the= =20 various businesses within Global Markets, we are pleased to announce the=20 following organizational changes. Crude and Products This group is being re-organized into product lines in order to better focu= s=20 and maximize coverage and increase our market-making abilities. The=20 following individuals leading these groups report directly to John Nowlan. Global Crude Oil Don Schroeder and Bill White will manage our global crude oil books. Don= =01,s=20 emphasis will be on the development and expansion of our physical crude=20 positions both domestically and abroad. Bill will manage the various=20 financial crude positions globally and will focus on developing these books= . Distillate Chris Mahoney will have responsibility of all distillate positions. Chris= =20 will focus on developing our global distillate strategy, building the=20 business both physically and financially. Global Fuel Oil Niamh Clarke will expand her role managing our global fuel oil and resid=20 positions. Emphasis will be placed on re-establishing Enron in the financi= al=20 fuel market in the US and developing a physical fuel strategy. Global Gasoline and Components Jim Goughary will assume responsibility for our global gasoline and=20 components business. Following up on our expansion into the European marke= t=20 in 2000, we look forward to Jim expanding our presence in the US as well as= =20 Asian Markets. Global LPG Erik Hansen and Adam Gross will be responsible for the development and=20 execution of our global LPG trading and strategy. Under their guidance we= =20 look to expand our presence into the Asian Pacific markets, as well as=20 continuing to grow our US and European operations. Petrochemical and Plastics Stuart Bland and Douglas Friedman will be responsible for the continued=20 development and growth of our petrochemical and plastics business. They wi= ll=20 work to further expand both our physical and financial presence in these=20 markets. Fuel Management Doug Leach will continue in his role developing our fuel management busines= s=20 as well as other long-term structural transactions.=20 Global Origination Randy Maffett has joined the group to lead, develop and grow all global=20 origination activities for the group. Randy=01,s most recent assignment wa= s in=20 restructuring several equity investments for ENA. =20 Enron Freight This new group under the leadership of Dan Reck is developing a business in= =20 the inter-modal transportation area in the United States. Shawn Cumberland= =20 has joined this group to lead and expand the origination opportunities in= =20 this business. Shawn=01,s most recent assignment was as COO of the CALME r= egion. Global Risk Management Jere Overdyke has elected to leave Enron after almost 10 years of service. = =20 Per Sekse will take over the leadership of this very exciting and growing= =20 business. Per is located in Enron=01,s New York office but will be spendin= g a=20 significant amount of his time in Houston. We look forward to this year and feel the above changes will provide the=20 focus and momentum we need to deliver a record performance in 2001. Please congratulate everyone on their new assignments.
Organizational Announcement