Re: Tax Valuations for YR2000

Thanks Steve, actual savings prior to allocation was $782,375 I miss
calculated when I sent the memo.

Steven J Kean@EES
08/01/2000 09:11 AM

To: Gary Fitch/HR/Corp/Enron@ENRON
cc:
Subject: Re: Tax Valuations for YR2000

Congratulations!

Gary Fitch@ENRON on 07/27/2000 12:02:47 PM
To: Bill Donovan/EPSC/HOU/ECT@ECT
cc: Steven J Kean/HOU/EES@EES
Subject: Tax Valuations for YR2000

Bill, we hit a home run this morning with HCAD. They have agreed to take my
reduced valuation on the Enron fleet. A reduction of $16,079,000 in taxable
value. This results in savings of $482,375. That's not all, our allocation
based on records for operations outside of the state of Texas resulted in
additional savings of $1,559,638. Total savings to our 2000 budget will be
$2,042,013.