DISCUSSION DRAFT

TO: Enron Europe Employees=20

FROM: Fernley Dyson, Vice President and Chief Accounting Officer, EEL
Sally Beck, Vice President =01) Global Risk Management Operations=20

SUBJECT: Trading Operations Resource for London

Enron Europe Ltd. has played a vital role over the last few years in the=20
global expansion of Enron=01,s business. Now, EEL is taking a strategic =
role=20
in setting the standards for global operational performance. Accordingly,=
=20
EEL will work closely with Global Risk Management Operations to assess our=
=20
operational policies, procedures and internal controls. This will be a=20
collaborative effort to establish and implement standards and measurements =
to=20
be used world-wide. This strategic initiative is critical to Enron=01,s=20
performance, in insuring that trading operations services are delivered=20
consistently across all commodities and all locations. =20

We are very pleased to announce that effective April 10, 2000, Brent Price,=
=20
Vice President of Global Risk Management Operations, will office at Enron=
=20
House, reporting to both of us. Brent will have the responsibility and=20
authority to facilitate this global initiative for Enron Europe. Brent=20
brings a wealth of operational and risk experience. His most recent=20
assignment included heading Gas Operations for Enron North America. =20

Brent will have the responsibility to assist and guide us through the proce=
ss=20
of assessment and development of global operational standards and=20
measurements. This will include evaluating the operational processes,=20
procedures and controls for all commodities and locations managed by EEL. =
He=20
will also advise us on any critical issues requiring immediate action to=20
insure that we are fully aligned in the delivery of global consistency=20
throughout all of our operations. He will work actively with the operation=
s=20
staff in Enron Europe to achieve this goal. =20

(FERNLEY =01) This would be a good spot to perhaps make a reference to the=
=20
timing of Mike Jordan=01,s arrival and the role that Brent would play in hi=
s=20
assimilation, assuming that when this goes out that you have already sent o=
ut=20
an announcement about hiring Mike and his role.)

We ask your full co-operation in supporting Brent and the success of this=
=20
initiative. =20

We remain committed to our mutual efforts to develop our people, build=20
business knowledge, leverage talent across locations and insure the integri=
ty=20
of our global services.