This is the content of an email: Your new cash books are being set up ASAP. They tell me they will be ready no later than tomorrow. Once those are set-up, Stephanie Sever will email you your new EOL id's. Kam

Subject: new books

This is the content of an email: Please add the following credit reserve for September. Counterparty: PG&E Energy Trading-Power, L.P. Trader: Rob Benson Deal #: 781643.1 Deal Date: 09/19/2001 Deal Description: EPMI selling 50 MW on peak power into PJM (Western Hub) Cal 05 Notional Volume: 204,000 MW Term: 1/01/2005 through 12/31/2005 Delivery Point: PJM (Western Hub) **Reserve Amount** $20,000 (Twenty Thousand US Dollars) Transaction confirmed under EEI executed 03/01/2001. Thanks,

Subject: Credit Reserve - Deal #781643.1

This is the content of an email: Jorge: I may send you some emails throughout the day to help clarify some things for me. Where are your definitions of "Calculation Period" and "IPA Modified Calculation Period"? In your definition of "IPA Floating Rate Payment", you use the term "Share Spread" which is not defined. What do you mean? There is a dangling definition of "Share Spread" at the end of the IPA Compensation section, but it refers to spreads appearing in either Annex I or Annex II. In the "IPA Compensation" section, how is "a negative IPA elected"? Who is making an election? Let's discuss tomorrow.

Subject: RMT/EEL confirmation

This is the content of an email: Ken, Per my voicemail, we are having an all employee meeting on next Monday at the Hyatt Regency. The purpose of this meeting is to pull everyone together for an update on EGM and a brief presentation from all the business units within EGM. This includes about 1 hour of business and then drinks and food - we expect about 500 people. We have made a lot of progress on changing the nature and profitability of these businesses and we want to make sure everyone sees just how far we have come in a few months. I believe they will be motivated to see the growth and profitability. We had a record Q1 with $100 million of gross margin. That was 50% of what they made in all of 2000. Combined with the fact that in December of 2000 alone we made $87 million in gross margin, I believe it will have a big impact. If you could attend the meeting even for a few minutes it would go a long way in helping us drive our other point which is that the EGM businesses are now core to Enron and has the attention of both you and Jeff. Thanks for considering this and let me know if you need any other information or assistance. Mike
Subject: EGM - all company meeting