IN: Effective August 16th, 2001, the ETS Deal Capture Team will help process all firm agreements on TW. All requests for firm service should continue to go to Michelle or Dennis for the base agreement processing; however, the Marketer should complete and forward a deal sheet (attached) for completion of the discount amendment and for us to obtain the appropriate approvals. Deal Capture will also tender the agreements and hand partially executed deals to Contracts for activation. As time permits, we will reconstruct the TW Firmbook listing of all active agreements by production month. Please let me know if you have any questions or concerns. Thanks! Craig

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OUT: TW Firm Contract Processing

IN: I want to move forward with scheduling the initial meeting of the Operational Risk Management task force. How does Tuesday, October 16th and the afternoon of Thursday, October 18th look for everyone? Please let me know your schedule for both of these dates. Most of the task force members have been identified, with the exception of those from GRMO and IT. Sally Beck will identify representatives from these two areas. I would also expect that other individuals may be consulted from time to time as additional expertise or resources or required. I intend to schedule a two-hour block of time for this meeting. The agenda will include, at a minimum, the following topics: Definition of Operational Risk for Enron - What's in and What's Out Preliminary Goals for Operational Risk Management (to be refined by the group) Develop Common Language Identify Framework for Monitoring Risk Role of this task force - Strategy Set common objectives for implementation this year and a look forward to 2002 Current Initiatives Communications Plan Open Discussion - Other Ideas from the group - Suggestions re other groups/individuals to include on the task force I am excited about leading this initiative for Enron. We have a unique opportunity to define operational risk measurement for Enron, develop reporting guidelines, and provide qualitative assessments of operational risk, all of which will be considered during the risk capital allocation process. But most importantly, we can identify ways to mitigate Enron's exposure to operational risk. Please call if you would like to discuss any of the above prior to the meeting. Thanks,

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OUT: Operational Risk Management

IN: Further to prior e-mails, I have now confirmed with Blakes that the following c/ps originally had the wrong termination dates set. They have now been corrected to the appropriate dates, all of which were Feb 1, 2002 (John, these are the same ones I identified to you last week). AEC Marketing, physical, gas - February 1, 2002 Calpine Canada Natural Gas Partnership (Encal) physical, gas - February 1, 2002 El Paso Merchant Energy, physical gas - February 1, 2002 Williams Energy Marketing & Trade Co. - February 1, 2002 Greg

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OUT: Termination Dates

IN: John, I found the error. It was a small logic error. You can easily fix the problem if you go into the visual basic editor for the blotter file. In the editor, you will see several modules listed on the left of the screen under the file. You will need to edit the "Main_Query" module. Once in the "Main_Query" module, you will need to search for the routine named "VerifyManualInputs". The actual start of the routine looks like this: Function VerifyManualInputs(FromDate As String, ToDate As String, PutCall As String, Lots As String, Strike As String, Price As String, CParty As String, sType As String) As Boolean Within this routine, about 15-20 lines down, you should see the following two lines : If (isdate(FromDate) And isdate(ToDate)) Then If (ToDate < FromDate) Then You need to change the second line to : If (CDate(ToDate) < CDate(FromDate)) Then This should fix the problem. The intent of the line is to prevent the "To Date" of a deal from being earlier than the "From Date". In the original line of code, it does a TEXT based compare (like comparing is "ABC" < "DEF") instead of comparing the two values as DATES. The modification I've laid out converts the from and to dates to date values before comparing. I have tested the fix here and it should work fine. I hope everything runs smooth for you next week. Have a good Thanksgiving. Greg

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OUT:
Small logic error