FW: Draft of Organizational Announcement

As we discussed...
The other memo will follow shortly from Maureen McVicker (my assistant).
---------------------- Forwarded by Steven J Kean/NA/Enron on 06/12/2001
09:08 AM ---------------------------
From: Sherri Sera/ENRON@enronXgate on 06/11/2001 04:51 PM
To: Steven J Kean/NA/Enron@Enron
cc:

Subject: FW: Draft of Organizational Announcement

Steve, Kevin Garland sent this to me hoping to get Jeff's approval to send it
out from the office of the chairman. Would it make sense to incorporate it
into the memo you're working on? Please advise. Thanks, SRS

-----Original Message-----
From: Garland, Kevin
Sent: Monday, June 11, 2001 3:28 PM
To: Sera, Sherri
Subject: FW: Draft of Organizational Announcement

Announcing the Formation of One Corporate Equity Investing Unit

To better develop and manage equity investment opportunities related to our
core businesses, Enron has formed one corporate equity investment unit. This
new unit, Enron Principal Investments, will combine the existing investment
units of ENA, EBS and Enron Investment Partners. Additionally, the Enron
Special Asset Group will also become part of Enron Principal Investments.
The strategy of Enron Principal Investments will be to work with all the
business units of Enron to identify, execute, and manage equity investments,
which leverage Enron's unique and proprietary knowledge. These investments
may be in the form of venture capital, LBO's, traditional private equity and
distressed debt positions.

Kevin Garland will serve as Managing Director, overseeing all activities of
Enron Principal Investments. Gene Humphrey, Michael Miller, Dick Lydecker,
and their groups, will join Kevin and his group to form Enron Principal
Investments. This new business unit will report to an investment committee,
consisting of Greg Whalley, Ken Rice and Dave Delainey.

Please join me in congratulating and supporting Kevin, Gene, Michael, Dick
and the other members of this group in this effort.

Jeff Skilling