Subject: "EWS DPR 1/31/02".

Body: While our established schedules of Tuesday and Friday DPR's would have us reporting tomorrow's activity on Monday, we will change that for month end. Please email the January 31st DPR information for your respective groups to my attention by noon on Friday. You should use the same spreadsheet format used for the 1/29/02 DPR. All p&l and PRMA numbers should be in $'000's. Starting in February, you will be able to export the data, as opposed to using the spreadsheets. Thanks,

Subject: "Intercompany Balances".

Body: Did you get a copy of this? It looks as if in September that our=20 intercompany balances were relatively low (EES and ENA), with an increase i= n=20 October with Enron Europe. Do you have details behind this? Are EES=20 balances gas only, or gas and power? How do we have imbalances with=20 ourselves? What kind of reporting do you get from financial ops on a regul= ar=20 basis that gives you the details behind this? I am assuming that these=20 imbalances are created from commodity transactions, so that we would really= =20 be closer to the details than would financial ops. Is that a good=20 assumption? --Sally=20

Subject: "8/16 Business Unit EOL Crude Violations".

Body: Attached are the Enron Global Markets EOL Crude 24/7 Trading violation memos for Net Open Position, Maturity Gap Risk and VAR for August 16, 2001. The Office of the Chairman for Enron Global Markets is responsible for printing out hard copies of these memos, signing and returning the hard copies to Chris Abel at 3560f, who will forward them to RAC to obtain their signature. Thank You

Subject: "Deloitte Agreement".

Body:
Michael - I have attached below a revised version of the Channel Marketing Agreement with Deloitte. This document is the most current form of agreement that needs to be used for these deals and also reflects my comments. These comments are based upon the comments submitted by Deloitte. I have incorporated those that we discussed and made some additional comments. You will note that in the "Fee Payment" section, I have included the present value concept that you requested. I have not, however, defined this concept, but would assert that it should be defined in the agreement. Accordingly, please let me know how you want to define it. As I indicated above, this is a bit of a different form than the one you submitted to Deloitte for review. So that we can ensure that accurate documents are distributed, please allow us to prepare the drafts for distribution to potential channel marketing partners. Like the preparation of NDA's, this will enable the Legal Dept. to keep track of the agreement and ensure the right version is used. Please let me know if you should need anything further. Mark