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Mark- here is my response to your request. Call with questions. Goal: Total Foreign Exchange Exposure quantified and communicated to BOD. Performance: Project completed with final tranche of results reported to Finance Committee Dec 11. The notional exposure as well as impact on potential impact on earnings and CTA accounts have been quantified and reported to the BOD over the past year according to a schedule that has strictly adhered to. Also, a template and process has been established to be able to easily report changes in the future. Enron has never had a comprehensive review of FX exposure prior to this activity. As an aside, there has been a fair amount of hedging activity resulting from this effort. Goal: Establish risk and trading control processes for risks unique to EES. Performance: Systems have been established and monitoring controls are in place across EES. A thorough study of the DSM business has been completed and the results presented to the Finance Committee. A RAC task force has been put in place which has established a work plan consisting of 53 elements that EES has agreed to put in place to get the overall back office and trading and credit control systems where they need to be. Significant progress has been made against these recommendations. DSM projects have been spot tested with outside measurement firm and the results reported to EES. These tests have highlighted focus areas to determine where the capital dollars are best employed. Goal: Solidify the global risk management policy beyond Houston and London. Performance: Complete and Ongoing. During 2000, Project Doorstep was initiated by RAC which inspected every office within Enron to determine if trading was taking place and if so whether the Enron controls were being adhered to. A data base system was developed to routinely prompt surprise inspections of these offices and also monitor if the recommendations are being adhered to. Doorstep was a huge effort involving RAC, AA, and operations to really understand where we have risks. It also helps in defining where we don't have responsibility such as EOTT, Azurix and The New Power Company.

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2000 Strategic Goals- RAC