IN: Effective May 22, 2001, Enron Netherlands Generation B.V., a Netherlands corporation, changed its name to Energy Development Company B.V. Evidence is filed in the Houston 48th floor corporate vault. Please share this information with other interested parties. NOTE: Sylvia Hu - evidence to follow by hand.

Generate a subject line.

OUT: Name change

IN: This is just to let everyone who is using the New Curve Manager in Enpower: The Curve Manager is having a problem in Terminal Server 2. (NAHOU-TRDTS2) The problem is currently being diagnosed by both the Enpower Team and Terminal Server Team in Houston. As Soon as it is fixed, I will let everyone know. For now you can use any other terminal server session (i.e. TRDTS1, or TRDTS03 - TRDTS5) for running the Curve Manager. Michael Tully Application Support, Portland (503)464-7790 Desk (503)807-7862 michael.tully@enron.com

Generate a subject line.

OUT: Curve Manager

IN: Thanks for all you have done and for your continued efforts to see us through this difficulty. I can not begin to imagine the weight of your burden, but please know that I and I am sure most employees are behind you 100% and appreciate all you have done and are doing. I know you will see us through this and am delighted you are there to lead the endeavor. Are you assuming more responsibility for our low stock price than you should? Doesn't Ben Graham's Mister Market deserve most of the credit for our recent price swings? I believe strongly in free markets. However, for them to work there must be intelligent, well informed buyers and intelligent, well informed sellers operating in good faith. I am not convinced the U.S stock market has seen many of either over the last three to five years! My only hope is that the speculators, gamblers, short sellers, etc. all loose their shirts and that Mr. Market finally gets his courage screwed to the hitching post! Just get us through the exposures we have at our current market cap. and we will be in great shape a few years from now. Thanks again and best wishes.

Generate a subject line.

OUT: I'm behind you.

IN: As a result of Jeff Nogid's request, here is a recap of the Morgan Stanley situation: (1) Morgan Stanley Capital Group Inc. This is the entity for commodity trading. (i) ECT has a Master Energy Price Swap Agreement dated 6/16/92 (ii) ECTRIC has an ISDA dated 3/2/99, but eff. 8/27/97 (2) Morgan Stanley Capital Services Inc. Jeff Nogid requesting new master for fixed income transactions (3) Morgan Stanley International Limited This is the entity for equity trading. Will Nogid or Kinneman ever need this one? Each of these companies has a different lawyer to negotiate the agreement. Each Morgan Stanley entity might require a separate guaranty. Anne Clark in legal (Cap Services) will let me know. I will put (2) in place. Do you want to pursue upgrading (1)(i) or addressing (3)? Please let me know. Thanks. Sara

Generate a subject line.

OUT:
Various "Morgan Stanley" master agreements