Hello everyone.

In December we decided to kill our planned offsite due to market volatility. Louise and I would like to get everyone together offsite, probably in late June (once Louise is back from holiday (just kidding)). I think it's time to go have a little fun with the group driving Enron's success.

I would like suggestions as to:

1) Where to go.

2) What should be the focus of the business meetings.

3) Should we have business meetings or should we do something else (ie. climb a mountain)? I'm not a strong bid on climbing a mountain.

4) And any other ideas you have.

In addition I would like to start having staff meetings about once a month. The first one will be Friday May 11th at 2:30 p.m. Please add this to your schedule. I have invited everyone who has P/L responsibility. Portland, Calgary and Toronto will have to be on Video or Phone conference.

Regards

John