IN: I spoke with Oscar Wyatt this afternoon on Crown and subsequently to Tom Bachtell, an attorney in Utah who is attempting to organize shareholders to replace existing management. Crown has an asphalt oil sand production facility in northeast Utah and an asphalt distribution company. Bachtell owns about 4-5% of the stock. Mr. Wyatt indicated he had a "small" holding. I indicated that we would consider any proposal that might result in salvaging some value from this investment. We hold convertible preferred and a small amount of common at an original cost of $5.5 million in 1997. Fully converted, our ownership would be approximately 25%. The Company has a net deficit of $21 million and a "going concern" paragraph in its audit opinion. We have written down our carrying value to nil. The Company in engaged in an arbitration proceeding against MCN Energy and MCNIC Pipeline. MCNIC has interests in the asphalt assets and is a lender to Crown. MCNIC attempted to foreclose on certain Crown assets and Crown in turn counter-sued for $100 million. The arbitration hearing will be held July 23 - August 10. If Crown obtained an award from the arbitration, some value could be restored to our investment. We will get further information from Bachtell on the details of his plans and recommend what position Enron should take in this matter.

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OUT: Crown Energy

IN: Dear Gerald, Where do you want to go this summer? Wherever it is, chances are there's a Travelocity Deal to help you make it happen. Alaska, Hawaii, Mexico, Florida, Europe?we can help you save money when traveling to all these locations and more. So what are you waiting for? Read more to see how we can help you get the most out of your vacation dollars. Featured this Week * Experience the True Spirit of Hawaii from $575! * Save up to 20% at Your Favorite Restaurants! Air * Fly to South America for Less on LanChile! * Fly ANA to Japan for as little as $590 round-trip! * Fly Aeromexico, Mexicana, or Aero California and Put Pesos in the Bank! * Great Savings on Hawaiian Airlines from the West Coast! Cruises * Set Your Sights on the Caribbean and Upgrade Your Cabin for Only $99! * Experience the True Spirit of Hawaii from $575! * Experience Alaska's Untamed Spirit from Only $599! * Explore the Wonders of Northern Europe This Summer from Only $1005! Vacations * Experience the Caribbean--$100 Back Plus Bonus Miles!

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OUT: Real Deals from Travelocity.com

IN: Hi Tracy, Attached is the spreadsheet for the items we want tested (9 items). Please forward to the appropriate person and have them email it back to me. I am available for questions at xt. 37560. Thank you for your help. Best Regards,

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OUT: Co. 0366 testing

IN: Hi Nancy! I left a voice mail for you in Sao Paulo since Lynn told me you were there. We need to authorize someone in the US to execute swaps on behalf of ESA. Brent Hendry (after speaking with Jana Morse) thought Martha Stevens or Scott Mills would be good candidates (if not already authorized). Please give me or Brent a call. We're trying to get this done next week since TBS executed a swap in January, 2000 and we are still trying to confirm. Also, let's have lunch. Sara

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OUT:
authorization for executing Enron South America LLC ("ESA") swaps