ERMS Discount Memo as of May 25, 2001

From: anita.luong@enron.com

To: sally.beck@enron.com, scott.earnest@enron.com, mark.fondren@enron.com,gary.hickerson@enron.com, georganne.hodges@enron.com, sheila.glover@enron.com, kori.loibl@enron.com, lynne.ruffer@enron.com, clara.carrington@enron.com, frank.prejean@enron.com

Subject: ERMS Discount Memo as of May 25, 2001

Cc: chris.abel@enron.com

Bcc: chris.abel@enron.com

Date: Fri, 1 Jun 2001 09:38:29 -0700 (PDT)

Attached is the ERMS Discounting Analysis as of May 25, 2001.

Please call Chris Abel at X33102 or Anita Luong at X-36753 if you have questions.

Thanks