Over $50 -- You made it happen!

On Wall Street, people are talking about Enron. At Enron, we're talking=20
about people...our people. You are the driving force behind every success=
=20
that our company has experienced, including our high-performing stock price=
,=20
which surpassed the $50 mark only a few days ago. You made it happen!

To show our appreciation for your hard work and commitment to Enron=01,s=20
continued success, eligible regular full-time and regular part-time employe=
es=20
who were on the payroll of a wholly-owned Enron company at Dec. 31, 1999 wi=
ll=20
receive 50 Enron stock options. A special stock option award certificate a=
nd=20
a copy of the stock plan will be sent to you in the next few weeks.

About the stock options grant:
The grant was effective Jan. 18, 2000, therefore, the option grant price is=
=20
$55.50.
Options will have a seven-year term, which means you must exercise these=20
options before seven years have passed.
Options will vest 25 percent on Feb. 28, 2000 and 25 percent each subsequen=
t=20
January 18th thereafter until fully vested, as long as you are an employee =
of=20
Enron. This means you may exercise 25 percent of these options as early as=
=20
Feb. 28.
This grant is made in accordance with the terms and provisions of the Enron=
=20
Corp. Stock Plans and the award documents, which you will receive in the=20
coming weeks.=20

Due to varying international restrictions and legalities, Enron employees i=
n=20
certain international locations will receive some other form of recognition=
. =20
Your local management and human resources representative will communicate=
=20
further details.

Visit home.enron.com for additional information. There you can access a li=
st=20
of frequently asked questions regarding stock options. And you can view a=
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special message from Ken Lay. To access the special message, you must have=
=20
IP-TV and a sound card. If you are not able to view Ken=01,s message, a=20
transcript is available. If you encounter any technical difficulties, plea=
se=20
contact your PC Help Desk.

To help celebrate this occasion Plaza Java located in the Enron Building wi=
ll=20
offer 50-cent Coffee of the Day and 50-cent Krispy Kreme donuts today only,=
=20
while quantities last.

Again, thank you for all you do to make Enron a successful global energy an=
d=20
broadband services company and a great place to work.=20