RE: PERSONAL AND CONFIDENTIAL COMPENSATION INFORMATION

Thanks for the information. It would be helpful if you would send the
detailed worksheet that you mentioned.

I am surprised to hear that the only restricted shares left are the ones
granted this January. I have always elected to defer any distributions of
restricted stock. I believe I selected the minimum amount required to be
kept in enron stock (50%). Are you saying that all the previous grants have
fully vested and been distributed to my deferral account?

Thank you for looking into this issue.

Phillip