Added Role

Congratulations on your added role of CEO for Enron Europe. I look forward
to continuing to work with you and the staff in London on risk management
operations initiatives.

I talk with Brent Price several times a week. I know that Fernley has
appreciated his participation in London, and I hope that you have found his
involvement to be beneficial as well. We are almost at the half way mark on
his assignment, so I will talk with you next week when I return from Calgary
to get your input on his role to date.