Follow-Up from Monday Reg Risk WG Meeting

Here is additional information and future work related to Monday's call.

1. Top 20 List

The attached file is the final work plan for the initial analysis of Enron's
Regulatory Risk. Gia, John, and myself will be contacting the appropriate
people to start this process.

I really appreciate everyone's help. Call me if these assignments don't make
any sense.

2. Risk Event Catalog

Amr Ibrahim continues to develop the event catalog. Please feel free to call
and work with him as much as you see fit. I am hoping that we see a first
cut within a few months.

3. Regulatory Origination

Edith Terry made a good point related to our role in helping identify
positive regulatory and political changes (in the near-term) that can
increase our business value. Everyone should constantly be on the look-out
for opportunties to further Enron's business interest.

4. Early Warning System

Robert Johnston is taking the lead on setting up a process / system to help
us understand the overall "environment" within countries that we have
business interests. Anyone who wants to help should contact him.

Thanks again for all of the help.

Jim Steffes