To Ops - Revised February BOD Approved Risk Management Policy

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/12/2001
05:59 PM ---------------------------

From: Cassandra Schultz @ ENRON
02/18/2001 10:59 PM

To: Wanda Curry, Barry Pearce/Enron Communications@Enron Communications,
Kristin Albrecht/Enron Communications@Enron Communications, Shawn
Kilchrist/NA/Enron@Enron, Vince J Kaminski/HOU/ECT@ECT, Alan
Aronowitz/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
cc:
Subject: To Ops - Revised February BOD Approved Risk Management Policy

FYI
---------------------- Forwarded by Cassandra Schultz/NA/Enron on 02/18/2001
10:44 PM ---------------------------

From: Cassandra Schultz
02/18/2001 10:26 PM

To: Bob M Hall/NA/Enron@Enron, Leslie Reeves/HOU/ECT@ECT, Jeffrey C
Gossett/HOU/ECT@ECT, Peggy Hedstrom/CAL/ECT@ECT, Stacey W White/HOU/ECT@ECT,
Brent A Price/HOU/ECT@ECT, Scott Earnest/HOU/ECT@ECT, Sheila
Glover/HOU/ECT@ECT, D Todd Hall/HOU/ECT, Cindy Horn/LON/ECT@ECT, Brenda F
Herod/HOU/ECT@ECT, Mike Jordan/LON/ECT@ECT, Howard Carter/EU/Enron@Enron,
Andrew Cornfield/LON/ECT@ECT, James New/LON/ECT@ECT, Orjan
Agdesteen/OSL/ECT@ECT, James New/LON/ECT@ECT, Marcelo Parra/NYC/MGUSA@MGUSA,
Louis Colarusso/NYC/MGUSA@MGUSA, Heidi
Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jan-Erland Bekeng/AP/Enron@Enron,
Kevin Rhodes/EU/Enron@Enron, Naomi Connell/LON/ECT@ECT
cc: Sally Beck, Shona Wilson, Chris Abel

Subject: To Ops - Revised February BOD Approved Risk Management Policy

Attached is the revised Risk Management Policy incorporating the BOD's
changes - please discard the previously circulated version I sent out prior
to the BOD meeting. I've also included a recap of substantive changes since
the October 2000 version that was circulated to you in conjuction with the
compliance certificates last fall, but you should read the policy to enhance
your understanding, and distribute it to your groups as some changes are
significant and are detailed further in the policy. I did notify the Office
of the Chair for each of your business units of these changes earlier this
week, and I will also provide them with a copy of the revised policy.

If you have any questions, feel free to give me a call at x 30429.

Regards,
Cassandra Schultz
Market Risk Management