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Enron Mail |
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Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: Vince J Kaminski X-To: vkaminski@aol.com X-cc: X-bcc: X-Folder: \Vincent_Kaminski_Jun2001_8\Notes Folders\Sent X-Origin: Kaminski-V X-FileName: vkamins.nsf ---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/04/2000= =20 06:12 PM --------------------------- =20 =09Enron North America Corp. =09 =09From: Press Release @ ENRON 02/02/2000 06:19 = PM =09 To: All Enron Worldwide cc: =20 Subject: ENRON AND CHASE MANHATTAN BANK SIGN LONG-TERM ENERGY MANAGEMENT=20 AGREEMENT HOUSTON and NEW YORK =01) Enron Energy Services, a subsidiary of Enron Corp= .,=20 and The Chase Manhattan Corporation (NYSE:CMB) announced today a ten-year,= =20 $750 million energy management agreement. Enron will provide energy=20 management services for 860 of Chase=01,s facilities nationwide, including= =20 office buildings, retail branches and operations centers. As part of this agreement, Enron will provide commodity management, includi= ng=20 analysis and consolidation of approximately 30,000 annual utility invoices= =20 currently processed through multiple operating groups, as well as overall= =20 project management for energy infrastructure upgrades, designed to make=20 material improvements in the energy efficiency of many Chase facilities. "Chase has taken a leadership position among financial institutions by=20 recognizing the financial and administrative benefits of working with Enron= =20 to consolidate its energy management processes,=018 said Lou Pai, CEO of En= ron=20 Energy Services. =01&Our agreement effectively takes Chase out of the ener= gy=20 management business and enables them to focus more time and resources on=20 growing their successful financial services business." =01&This transaction is another great example of Chase=01,s discipline and= =20 initiative in creating significant value for our shareholders,=018 said Liz= =20 Flynn, head of Chase Business Services. =01&It again demonstrates the=20 effectiveness of Chase Business Services, a shared services organization=20 created to improve service and lower costs for all of Chase=01,s operating= =20 groups.=018 The Chase Manhattan Corporation, with $406 billion in assets, is one of the= =20 world=01,s premier financial services institutions, with operations in 48= =20 countries around the globe. Chase has a top-tier ranking in all areas of= =20 investment banking, private banking, trading and global markets activities = as=20 well as information and transaction processing. Chase is a leading provide= r=20 of financial solutions to large corporations, financial institutions,=20 government entities, middle market firms, small businesses and individuals,= =20 and has relationships with more than 30 million consumers across the United= =20 States through products and services such as credit cards, mortgages, onlin= e=20 banking, debit cards, deposit products and auto loans. Through its newly= =20 formed business unit, Chase.com, Chase is successfully creating new busines= s=20 models for the Internet economy. Chase can be reached on the Web at=20 www.chase.com. Enron is one of the world=01,s leading electricity, natural gas and=20 communications companies. The company, which owns approximately $34 billio= n=20 in energy and communications assets, produces electricity and natural gas,= =20 develops, constructs and operates energy facilities worldwide, delivers=20 physical commodities and financial and risk management services to customer= s=20 around the world, and is developing an intelligent network platform to=20 facilitate online business. Enron=01,s Internet address is www.enron.com, = and=20 the stock is traded under the ticker symbol =01&ENE.=018=20
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