This is the content of an email: Marcus - I understand you are the new physical power online lawyer - lucky you! Here's one that the EOL people are anxious to get covered. I'd be happy to sit down and go over exactly what all this means and you'll probably want to talk to Tana a bit as well. Mark

Subject: EnronOnline - Power Spread Long Description

This is the content of an email: I forwarded this to you so that you could have a chance to take a peek at it before forwarding along to the rest of the group. If you'd like me to forward it along to the larger group, just let me know. Jeff

Subject: ICA memo

This is the content of an email: The above transaction was presented to the Board on 1-29-2001. There was considerable discussion which I have summarized below. Returns: were the returns sufficient to syndicate the risk. I answered positively, which is what the capital price addresses. The dash return is a blended debt and equity return.(?) Was the $19 million excess proceeds enough to allow the company to operate. I answered yes since 85% of reserves are producing and little capital will be needed to develop pdnp and pud reserves. Is management capable of operating or will they be in chapter 11 again soon. I answered that the bankruptcy was a result of overpaying for Wyoming deal and low commodity prices last two years which resulted in a bb decrease below outstanding. We will have to watch this issue carefully. Are banks reluctant to support KCS and could this cause a liquidity problem? Answered that all creditors were made whole and likely that someone will come into credit but it was a risk, although for the time being they had enough cash to operate. This feedback is just for fyi but it does indicate that board is active and not a rubber stamp. Rick

Subject: Board Review of KCS

This is the content of an email: Sir, Before I start, let me introduce myself. My name is Thirumalesh Aedunuthula. I had the pleasure of interning with Enron, this summer. I am a MBA student at Louisiana State University and worked with Enron Tax department. Over the past few weeks, things have changed for Enron at a faster pace than expected/imagined. To some, it is amazing how stock fell from $90 to 26 cents just in a year. People have been attributing lot of things for the fall, from California crises to international deals, without actually taking time to find out what went wrong with Enron . As an intern, I had the opportunity to feel the work culture of Enron. I felt that Enron is making profits not because it is in Energy Industry but because of energetic people like you and Mr.. Jeff Skilling and many others. I strongly believe that greatest asset with Enron is its talent pool, which made the company what it is today. Today, we have a discussion on Enron's Crisis in class. I know, for sure, that many would be interested in voicing their opinion against Enron. I would go to class and take the side of Enron. I might be in minority. But that doesn't matter, as to understand what Enron is, one has to really experience it. Hoping that Enron will really climb back, much faster than its fall.... Yours Truly,
Subject: A mail from an Intern