IN: I want to provide you with clarification and some additional information in light of yesterday's announcements regarding Enron's filing for Chapter 11 bankruptcy protection. In Friday's email, we advised you that the business units will communicate any news regarding elimination of your position, that this information will have been coordinated with the Program in advance, and that it will be definitive. To be clear, this means that any news regarding whether you will be retained or terminated will be delivered by the business units (not the Program), and it will be final. Later this morning the business units will begin floor meetings, and will communicate further information and instructions to you. As a result of these recent events, all activities and responsibilities of the Associate / Analyst Program are being transitioned to Human Resources. Over the next few weeks, the Program's current HR Generalist Terry Bosien will work with the business units to make this transition as smooth as possible under the circumstances. Through Friday December 14, please make Terry your primary point of contact for any questions or issues you might have. Finally, I must say that I'm very proud to have led this Program over the past several months. I want to thank each member of my team for their hard work and dedication to the many things we've achieved. I am grateful for the contributions all of you have made to Enron, and I wish you the very best of luck. With best regards,

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OUT: Associate / Analyst Program

IN: POSREP HOEGH GALLEON 23RD. APRIL 1200LT (1400UTC) A) Position at noon : N 29 42 W 062 33 B) Dist. from last noon : 294 n. miles (17H 35M.) C) Dist. to go to next port: 7299 n.miles (Qalhat) D) Eta next port : May 12th. 0001 local time E) 1:Average sea/weather : Wind: ENE 6 , Sea: ENE 5 2:Average speed : 16,72 knots / average RPM 93,76 3:B.O.G. consumed : nil 4:F.O. consumed : 101 mt. 5:G.O. consumed : nil 6:Average vapor press. Tk. 1: bar. Average liq. temp: Tk. 2: : Tk. 3: : Tk. 4: : Tk. 5: : Eta Algeciras 30th. 0500 local time. Due to broken steam exhaust pipe from main feed water pump it was necessary to stop and close down both boilers for 5 hrs. 35 min. 22nd. 1905lt. engine stoped. 23rd. 0130lt. cont. voyage. (clock adv. 2 x 40 min) Brgds Oe. Hansen Master E-mail: master.gall@hoegh.no Teleph: Inmarsat tel.no.+874 330853910 Fax : Inmarsat fax no.+874 330853913 Telex : Inmarsat B telex no.+584 330853915 Telex : Inmarsat C telex no.+584 430853910 (24hrs.watch)

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OUT: DAILY POS. REPORT.

IN: eSource presents SDC Platinum training SDC Platinum offers detailed transactional information on New Issues, Mergers & Acquisitions, Syndicated Loans, Private Equity, Strategic Alliances, Project Finance and others. The product is designed to allow users to compare transactions, evaluate advisors, and analyze market and industry trends. Training Agenda Includes: ? General Introduction. ? Basic query techniques for new issues and M&A databases. ? Basic query techniques for trend analysis. Attend our SDC Platinum Clinic: May 30 9:00 -11:30 AM EB552

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OUT: eSource Presents Free SDC Platinum Training

IN: I created a buy/sell with Hopewell that we are going to kill after the month is over. Deals 549136 and 549152 will be killed next week. These tickets are just estimating the loss on oil replacement.

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OUT:
Hopewell