This is the content of an email: Lets talk about this on the 4th or 5th. I'll have Martha set up a meeting.= =20 Note that this will catch the Sempra negotiated rate deals, but not our=20 January deals (yet). DF

Subject: TW

This is the content of an email: Kroum has developed a new Forward Obligation Report, which will allow us to capture all term deals, desk-to-desk and all scheduling changes. Both Heather Dunton and I have tested it in stage and will be pushed out to production soon. Once I have the date I will forward it to all of you. It should be within the next couple of days. I will also show all of you how to run the report to capture the criteria we need to do our swaps. diana

Subject: Forward Obligation Report

This is the content of an email: Sally, One of the things that Greg Piper has asked me to do is to take a look at the rest of the year and get each of the VP's to assess their margins and EBIT for the remainder of 2001. For Energy Operations, that is usually very easy since there has been no revenues, and all of the costs are allocated out, so there should be zero EBIT if nothing changed. Given your present direction, however, you may be generating some margin in 2001. Do you have a feel for an amount I can put into our analysis and will 100% of your costs continue to be billed out or will some be applied to this new activity? I am hoping to put something together next week, so if you or a designate could let me know in a few days I would appreciate it. Kerry Roper (x5-4895)

Subject: Forecast for 2001

This is the content of an email: Ms. Buchanan: Attached for your consideration is a draft of a Master Firm Purchase/Sale Agreement between Enron North America Corp. and TrizecHahn. Upon your review, please give me a call to discuss any issues or questions you may have regarding this matter. Regards,
Subject: Master Draft