This is the content of an email: Chris, The above document is the November 17, 1999 document which has been changed to a 3 month deal with the price change you specified. I have received the copy of the type of contract that they would like us to use. I note that we will have to make a lot of changes which is probably not warranted for a 3 month deal. If you want us to consider using their form for a long term deal, I will start making the necessary changes and send you back a red-lined single transaction contract. Will the long term deal have the same terms as our last long term deal except for price?

Subject: Smurfit Stone Containerboard 3 month extension attached

This is the content of an email: All - Starting Wednesday, we all have lots of work to do to get the new company up and running on time. Going forward, we need to be a proactive organization as opposed to a reactive organization. Given that we have the best people in the organization going over, this should not be difficult to accomplish. Let me be very clear. Playing on the internet will not be tolerated. There is too much that has to get done over the next two weeks. That message needs to be communicated to everyone going to the new company. If people feel like they do not have anything to do, they should be reading about options or the gas business. This is a great opportunity for people to make themselves better employees. I have no problem changing the lists if someone steps up, or if someone doesn't. Below, are a few things I need your help with over the next few days. (i) Budget (due Jan 2, 2002) First year budget to include all start up costs (some of which can be amortized) Each of you needs to draw up a budget for your region by the end of the day Wednesday. Use the format that we used for the Enron 2002 Budget process. Russ and Greg. You will be one cost center in the new organization. John, can you be responsible for coordinating this and compiling all budgets into one by Wednesday night? (ii) Re-start/Integration Plans (due on Jan 3) To be forwarded to Louise These plans need to be detailed and show clear detailed timelines and detailed responsibilities for getting us up and running as soon as possible. The current restart date is January 21, 2001 but may be pushed forward to January 14, 2002. I need to detailed plans for what files we are moving, the systems we need, and anything that will make the move better for the business. Kam - Can you coordinate and give me the list be Thursday evening? (iii) Seating Plans Tammy Shepperd to co-ordinate We need to start the planning process for seating as we will be living on floors 5 & 6 of the Enron South building. If you have any preferences in this area let me know ASAP, so that I can make requests now. (iv) Due Diligence We continue the process with two new companies this week (Wednesday and Thursday). Andy Zipper is taking the lead for the company arriving on Wednesday, please help him with his requirements. Just so you know, there will be more people in this week. Please let me know how I can help in getting everything done. I look forward to a great year working with all of you. Thanks for all of your hard work. Jeff

Subject: Netco

This is the content of an email: Steve - Question has come my way regarding bus - mass transit subsidy for '02. Employees want to be sure they will not need to set aside pre-tax $, via open enrollment now in place, to cover anything less than 100% bus subsidy. Currently (and throughout '01) Enron subsidizes bus passes to employees @ 100% of cost. This will be a $2.5 mill. expense in '02. During budget cycle several months ago it was discussed that Enron could cut this expense in half if subsidy was capped at $50/mo. - same as Parking subsidy. My records show this was not accepted and we plan to continue with 100% subsidy next year. Just checking if you. Given temper of average employee today, I assume this is still the right decision. - Bill

Subject: Bus Subsidy - '02

This is the content of an email: As most of us are aware, Trasnco will be terminating all master commodity contracts effective 9/1/2000. I don't think we should make any changes to the master contracts in our system until after the 1st. However, we will need start adding the demand contracts to the East and Market East in Sitara. Following is a list of master contracts and the associated demand contracts effective 9/1/2000. Master/Demand Rate Sched Start End Offer 2.2173 - Master FTAR 2.7055 - Master FTCHR 3.4367-Master FTFR 3.5318-Demand FTFR 6/1/2000 10/31/200 19885 3.4522-Demand FTFR 5/1/2000 10/31/2000 19123 2.1439-Master FTLR 2.2390-Master FTLR 2.4539-Demand FTLR 6/1/1998 5/31/2008 10382 .7537-Master FTR 3.5116-Demand FTR 6/1/2000 9/30/2000 19800 3.5115-Demand FTR 6/1/2000 9/30/2000 19799 3.5049-Demand FTR 5/3/2000 9/30/2000 19486 3.4708-Demand FTR 5/1/2000 10/31/2000 19328 3.4358-Demand FTR 4/1/2000 10/31/2000 18972 3.4271-Demand FTR 4/1/2000 10/31/2000 18944 1.3861-Master FTR 2.3496-Master FTR 2.7002-Master FTR 3.3433-Master FTSR 1.0828-Master SE94R 1.2786-Master SE95R
Subject: Terminating Transco contracts