Subject: "ENA credit derivative transaction".

Body: Janine: First Union National Bank ("FUNB") entered into a credit derivative trade with ENA effective 20 April 2001 (our trader was a London trader). Although ENA has a Master ISDA Agreement with FUNB (the "ISDA"), this does not appear to be the impetus for the booking since the confirm didn't reference the ISDA. Is ENA alright confirming trades in this manner?

Subject: "Revised Capacity Release Agreement".

Body: Stephanie, Attached is the clean and redlined revised Capacity Release and Assignment Agreement. I changed the notification to require that Calpine give us notice and that we would attempt to negotiate with the pipelines to arrange an alternative to the notice. Please review.

Subject: "New IT agreement with CIMA".

Body: Completed an IT agreement with CIMA Energy. Volume is 5000/day production on the Crawford lateral (#500267). Gas will be transported to both the Willi Wick Farm Tap (#12510) in the Texas panhandle area as well as to the West Texas pool (#58646). The agreement is at 0.065 cents, plus fuel for 14 months beginning Sept 2000.

Subject: "HR Team Changes".

Body:
Dear Clients, We would like to announce two changes to your HR Team. Janet de la Paz will be transitioning out of our HR Team tomorrow to her new HR Team in Mergers and Acquisitions as their Sr. Administrative Assistant. Janet has been a key member of our team this past year by helping us with all of the important day to day details needed to serve all of our clients. We ask you to join us in thanking Janet for all of her hard work and dedication this past year and to wish her continued success in her future endeavors. Janet's contributions have been very valuable to us and we will miss working with her. Our newest Team member, Karen Campos, will be joining us tomorrow as our new Sr. Administrative Assistant. Karen has been involved with the Enron International HR Team and joins us with valuable HR support experience to help all of us meet your service needs. We will be bringing Karen by to meet you in the next few weeks and look forward to the new partnerships that she will form with all of our clients. You will be able to reach Karen tomorrow at ext. 66463. Thank you for your continued support.