Subject: "Additonal Information Concerning PG&E".

Body: On a related note, I spoke to Vector concerning the equipment which was suggested for cleaning on the PG&E system. It is as follows: 2 scrubbers, some underground C/S piping, filter separator, horizontal tank, 2-10.84 drip locations The Vector proposal for mobilization, demobilizataion and cleaning the above PG&E equipment will be approx. $ 75, 000. I approached Vector about the pipeline cleaning between our M/S and their C/S. They quoted a turn key price of $34,000. Because this piping belongs to Transwestern, we should contract this cleaning ourselves. If the decision is made to address this cleaning, I think we would want to have it done during the same time period as the PG&E cleaning activities. I will also need some lead time to notify Vector and determine an appropriate methodology to be used. Vector apparently has an approved methodology for cleaning pipes to 36". One additional note, apparently PG&E has discovered PCBs in their gas compressors. In wipe samples taken of the internal compressors PCBs were found at regulated levels.....

Subject: "Merrill Lynch Capital".

Body: Enclosed are revised documents. Below is a summary of changes made. Copies enclosed are clean copies. Please carefully review all documents so that we can next move to final execution copies. Thanks for everybody's help. Revised Physical Confirm Changes Made: 1) SET-OFF Paragraph (B) - First sentence deleted and the phrase "of the Master Agreement" added after the reference to Section 4.2 2) Definition of Business Day - changed commas to parenthesis 3) Definition of Year added 4) Exhibit "D" numbers added and the name of the Exhibit was changed to Option Premium 5) The phrase "as amended" added in the first paragraph with respect to the definition of the Master Agreement 6) Definition of Summer Season amended to delete NERC definition because NERC is already defined 7) Exhibit "C" - (a) First sentence modified to reflect the fact that the Daily Energy Charge calculation will vary depending upon whether a given Month is in the Summer Season or the Non-Summer Season and (b) the phrase "where," or "and where," was added three times immediately prior to each set of definitions. Revised Financial Confirm 1) Added the words "shall be" in last paragraph of Section "Energy Quantity". 2) Deleted proviso in Section "Cash Settlement Amount for each Energy Index Point." 3) Added phrase in (b) of Section "Billing and Payment" to show that payments could go to Seller from Buyer and in (c) to add words "as amended". 4) Added Exhibit III/Option Premium. Schedule to ISDA Changes Made: 1. Added ENA as specified entity ML (Part 1 a). 2. Fixed names in Part 1 (k) from ML and Enron to Credit Support Provider. 3. Add notice for ML (Part 4/a). 4. Reference amendment to Guaranty (Part 4 (f)).

Subject: "Financial Analysts' Reports for 6.07.01".

Body: Please open the attached file to read the complete text of the following items: 08:11AM EDT 7-JUN-01 UBS WARBURG (US) (YOUNG, DON) HWP HEWLETT PACKARD: MORE REALISTIC OUTLOOK THIS TIME 07:48AM EDT 7-JUN-01 GERARD KLAUER MATTISON & CO. (BAILEY, D.) CPQ THE BEAR CASE 04:43AM EDT 7-JUN-01 J.P. MORGAN (WILLIAM A. LEWIS) CPQ ORCL EMC NTAP NETWORKED STORAGE BUS TOUR HIGHLIGHTS 09:27AM EDT 7-JUN-01 WIT SOUNDVIEW (GARY HELMIG) EMC EMC (EMC) COMPANY UPDATE JUNE 7, 2001 07:19AM EDT 7-JUN-01 SALOMON SMITH BARNEY (JOHN B. JONES JR.) HWP HWP: END MARKETS SOFTNING; REDUCING REVENUE AND EPS ESTIMATES 07:33AM EDT 7-JUN-01 CIBC WORLD MARKETS CORP. (QUINN BOLTON) INTC INTC: EXPECT INTC TO LOWER GUIDANCE ON MID-QUARTER UPDATE CONF. CALL <<6.07.01 Analyst Reports.doc>> The analyst reports provided are reports prepared by independent analysts who monitor and track Compaq's performance. These reports are not prepared by or at the direction of Compaq and as a result, Compaq is not endorsing or verifying the information contained in these reports or endorsing any of these analysts. These reports are being provided solely for business reasons and as a result, do not distribute these reports to other individuals outside of Compaq. If other individuals are interested in receiving the reports provided herein, please contact Elizabeth Davis in Compaq's Investor Relations Department at elizabeth.davis@compaq.com.

Subject: "\GTROS-FS01P\APPSRW".

Body:
This is a message from Kerry. I just converted and moved Larry Campbell (lcampbe) to the W2K server. He uses ESIS. I successfully converted the tables and have the links corrected (logged in as kgramse), however Larry cannot use the system. I received a message while logged in as Larry stating that the data/application was "Read-Only" when I attempted to re-link the tables. Please check the permissions on GTROS-FS01P\APPSRW Thanks,