John: I have not seen the legal opinion yet from Brazilian counsel [Dr. Pinto] on our dollar indexing issue. Please forward to me so I can review the opinion and get final approval for the deal. Regards,
Q: What is a potential subject line for this email?
answer: Electrobolt Legal Opinion
Robert, We are diligently trying to increase our United Way participation. Currently, Net Works is only at 57% participation. Listed below are employees in your department who have not gone online to make their pledge. I'm asking you to personally all each of them today, and encourage them to make their pledge. If any names listed below are not with your department, please notify Liz @ 31935. Should they have problems getting online, please give Liz a call. Thank You,
Answer: United Way
Here is an email: You have received this message because someone has attempted to send you an e-mail from outside of Enron with an attachment type that Enron does not allow into our messaging environment. Your e-mail has been quarantined and is being held at the MailSweeper server. Sender: cmcdonal@mtpower.com
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A: An Inbound Message For You Has Been Quarantined
Q: Mark- here is my response to your request. Call with questions. Goal: Total Foreign Exchange Exposure quantified and communicated to BOD. Performance: Project completed with final tranche of results reported to Finance Committee Dec 11. The notional exposure as well as impact on potential impact on earnings and CTA accounts have been quantified and reported to the BOD over the past year according to a schedule that has strictly adhered to. Also, a template and process has been established to be able to easily report changes in the future. Enron has never had a comprehensive review of FX exposure prior to this activity. As an aside, there has been a fair amount of hedging activity resulting from this effort. Goal: Establish risk and trading control processes for risks unique to EES. Performance: Systems have been established and monitoring controls are in place across EES. A thorough study of the DSM business has been completed and the results presented to the Finance Committee. A RAC task force has been put in place which has established a work plan consisting of 53 elements that EES has agreed to put in place to get the overall back office and trading and credit control systems where they need to be. Significant progress has been made against these recommendations. DSM projects have been spot tested with outside measurement firm and the results reported to EES. These tests have highlighted focus areas to determine where the capital dollars are best employed. Goal: Solidify the global risk management policy beyond Houston and London. Performance: Complete and Ongoing. During 2000, Project Doorstep was initiated by RAC which inspected every office within Enron to determine if trading was taking place and if so whether the Enron controls were being adhered to. A data base system was developed to routinely prompt surprise inspections of these offices and also monitor if the recommendations are being adhered to. Doorstep was a huge effort involving RAC, AA, and operations to really understand where we have risks. It also helps in defining where we don't have responsibility such as EOTT, Azurix and The New Power Company.
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A: 2000 Strategic Goals- RAC
IN: Summary Risk Data as of 21Dec2001 Previous Active Financial Deals 71 71 Active Physical Positions 40 40 P&L Daily ($thousands) 47.0 0.5 VaR ($thousands) 1,611.4* 1,533.8* ETS Margin Account Deals 0 0 *The VaR continues to be over the ETS VaR limit of $1,000,000. Company MTM by Counter Party Asset Liability Net 21Dec01 Previous Change NNG EL Paso Energy Marketing 17,814.4 (20,111.0) (2,296.6) (2,294.5) (2.1) NNG Reliant Energy Services 76.5 - 76.5 76.5 - NNG TransCanada Energy 22,482.7 (21,862.1) 620.6 620.3 0.3 NNG Grand Total 40,373.6 (41,973.1) (1,599.5) (1,597.7) (1.8) The terminated contracts with RMTC are now fixed receivables as of the early termination date of December 14, 2001 except for interest. NNG is owed $4.8mm and TW is owed $33.9mm. Amounts are past due. Definitions: Physical deals modeled in the Caminus Zainet system are deals which have some form of price risk, (i.e. Index to index deals, and anticipated fuel sales) This does not include standard transport and storage agreements or unhedged natural positions. P&L Daily: Daily change in the mark-to-market (MTM) valuation of all deals being tracked in the Caminus Zainet system. This includes the origination and changes in value for both the physical and financial sides of hedges, along with any speculative trades and floating unhedged physical positions. VaR is "Value at Risk": Enron Corp policy defines this as the maximum expected one day loss on the portfolio given a 95% statistical confidence interval. This number is currently calculated on the Caminus system using a variance covariance methodology, rather than a Monte Carlo simulation per the Enron Corp policy.

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OUT: Daily Summary of Risk Data 12/21
IN: This is an email
I spoke to Edmund to get the scoop on what we are going to be doing on the confirms for Credit Derivatives, and he said that his current understanding is that all of the confirms will be done out of London. I communicated that to Bob Bowen. He also said that London was going to be hiring 120 people to deal with the Credit Derivatives business. Wow!

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OUT:
Credit Derivatives-FYI