Enron Metals Re-Branding

Since the initial update on the transition of the metals business into Enro=
n,=20
a tremendous amount of progress has been made by the London-based integrati=
on=20
team to achieve our goal of a seamless integration of the two businesses by=
=20
the end of the year. We can now report that we are well on our way to=20
reaching this target and as a result of this work we will be welcoming the=
=20
arrival of the London-based metals team into Enron House over the weekend o=
f=20
15th September. Accordingly, I feel it is important to provide you with an=
=20
overview of one critical aspect of the transition process =01) namely, the=
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re-branding and re-positioning of the metals business as a core commercial=
=20
unit within Enron. =20

We announced in July that the metals business would be re-branded globally =
as=20
Enron Metals. This trading name will serve as the umbrella under which the=
=20
business will operate, with the exception of Henry Bath & Son Limited, the=
=20
metals warehousing division, which will retain its current brand image and =
be=20
recognised as an Enron company. Since this announcement about our branding=
=20
strategy, Fiona Grant in Public Relations and Sue Kelly, our Company=20
Secretary, have started working on the re-branding programme. A brief=20
overview of the steps taken to date and a summary of what should be expecte=
d=20
over the coming months is provided in the attached file.

As was stressed in the initial announcement about the change of name, a key=
=20
part of the integration of these operations into Enron will be the conclusi=
on=20
of a successful re-branding programme. To this end, given the size of Enro=
n=20
Metals, the re-branding initiative will be phased in over the next few mont=
hs=20
and should be completed by the end of 2000. Accordingly, we would ask that=
=20
all staff bear with us through this process, as the new corporate identity =
is=20
rolled-out worldwide. =20

Any questions relating to branding issues should be directed to Fiona Grant=
,=20
Public Relations and Communications.=20