IN: We are pleased to announce the following within EGM: The Convertible Bond Arbitrage desk will be moving from EnronCredit.com to the Equity desk under Gary Hickerson, and will be managed by Mike Bradley. Billy Lemmons has joined Gary Hickerson's unit as well. He is exploring the agriculture value chain and outlining our risk management, (What else here?) Dan Reck will be transitioning out of the coal group and will be exploring our rail and trucking initiatives. These markets together represent approximately $105 billion notionally, and we believe there are many synergies between our energy, coal, and freight trading businesses. In addition, we have asked (Pierre Aury to run our worldwide vessel trading businesses. Scott Moncrief will be responsible for all liquids vessel businesses reporting to Pierre) (should we mention cement here under george mclellan?) Our worldwide weather operations will continue to report to Mark Tawney in Houston, and he will have all V@R allocation responsibility between Sydney, Tokyo, Oslo, and Houston. In addition we will be forming a weather marketing desk in London. Janelle Scheuer will be joining the Global Products from Enron America's East power origination group, and is responsible for developing a mid-market business specifically for our liquids businesses. She will be reporting to John Nowlan. Bill White will be coming over from EBS and has responsiblity for all U.S. financial crude trading. Don Schroeder will continue to have oversight of our physical crude business. Anything else?

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OUT: Org Draft

IN: Many of you have inquired about January reimbursements to 2002 flexible spending accounts. Aon Consulting, Enron's flexible spending account administrator, has experienced some processing delays. Aon has encountered difficulty in retrieving spending account deduction information, and some deductions are not appearing in Aon's records. Enron Benefits is working with our IT group to help Aon resolve this issue. Also, unprecedented activity at the end of 2001 flooded Aon with year-end claims. Aon has assured us that 2001 reimbursements are now up-to-date, and that they began processing 2002 reimbursements on Monday, February 4. Questions regarding flexible spending accounts can be directed to georgia.fogo@enron.com.

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OUT: Flexible Spending Accounts

IN: I'd like to introduce myself, as I'm sure we'll be in frequent contact in the coming weeks while I adjust to my new position at the Deal Control desk here in Portland. Please feel free to call or e-mail me with questions, concerns, alerts, or suggestions - I'm eager to learn as much as I can about this job and take it in new directions. So if there is anything I can do to make your jobs function more smoothly, let me know. As a first order of business, thank you for the heads-up on the new version of Deal Entry. A couple of our schedulers have been experiencing delayed efficiency with the program today - I'm not sure if that has anything to do with the new version or possibly our Terminal Server connection. Just wanted to let you know, in case anyone else has the same experience. I look forward to working with you, and again, feel free to call me anytime. Thanks,

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OUT: New Deal Control Staff in Portland

IN: Hi Shirley, Is this meeting still set for tomorrow? I heard a rumor that it had been changed again, but I don't know if it is correct. Kay

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OUT:
EECC/ENA meeting