IN: Mark Taylor has asked me to forward the attached email to each of you. Per Mark's direction and the email, we need to sign off, from a Legal (not business) perspective only, on the attached descriptions of the 12 product areas to be traded online. So far we have only received 5 of the referenced 12 descriptions. I will forward the additional descriptions to the relevant Legal group when I receive them. Per the attached email, Awais needs our Legal sign off by Friday. I understand Alan may be out for the rest of the week so the attached descriptions on Coal, SO2 and NOX will need to be approved by someone else in his group. I'm not sure who that would be. Could you let me know? Mark asked if Shari and Sara could sign off on the weather and pulp & paper description for our group. Thanks for your help!

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OUT: EnronOnline Market Descriptions

IN: Stacy, The Reliant Energy changes which Ellen Dailey sent to you in August appeared in my chair this morning. I had discussed the Enovate/Reliant changes with Ellen yesterday and we resolved most of the language except for the items I noted as being Credit Dept calls, which Russell has yet to respond to. I agreed to make similar changes to the ENA/Reliant contract to that agreed upon in the Enovate/Reliant contract. In reviewing the materials that Ellen sent you as marked, it appears that we had resolved all of the items in the ENA/Reliant markup except for the credit driven items. Therefore, I will create a red-line and send back to Ellen next week, if Russell responds to my earlier emails and to this email. Call if this is not what you desire.

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OUT: Reliant Energy

IN: Guys, attached you will find a final cut on the ENA 2001 expense budget. Please review and make any adjustments to your existing plan that are appropriate to hit the net ENA target. In order to stay flat year on year, I split the remaining positive variance equally across the groups. As we had discussed earlier, these costs will not be allocated to the business units and will be tracked on the ENA income statement below the line and the accountability managed by each of you. All outside variable costs, specifically related to specific deals, will be charged to the business units eg) outside legal and tax, outside technical expertise, facility costs, outside research support, incremental back and mid office support for specific asset management deals, specific entertainment, etc. I look at this cost structure as the minimum capacity charge we need to operate our business and evaluate/manage our risks. Wes, can you please finalize the one page plan (expenses and headcount) for each group with these changes. Regards

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OUT: 2001 Group Expenses

IN: Recent Hires, Don't miss the opportunity to learn about: ? What success looks like at Enron ? What it means to be a good cultural fit at Enron ? What resources are available for you to use to enhance your job performance ? What is the PRC process at Enron Join us this Tuesday, June 12th from 11:45 AM to 2 PM @ EB49C1. An open Q&A session will occur during the last hour of the presentation. Lunch will not be served. You may bring your own lunch if you would like.

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OUT:
New Hire Focus Series