Japan Power Plant Statement

Commencing with an NHK (Japanese public TV) report and quickly spreading to
media inquiries and wire reports, earlier today a story spread through Japan
that the Enron affiliate E Power has immediate plans to build at least one
large (1000 MW) power plant. In fact, appears that E Power has been
pursuing this prospect on a smaller scly, but nothing has progressed to high
level management or board approval.

We are in the process of providing interviews and responding to inquiries
from major Japanese media and others. These inquiries have been in
anticipation of the March 21 partial liberalization of the Japanese power
sector. These discussions also are being utilized to confirm that Enron will
be opening a merchant office in Japan. This is in addition to the EnCom/E
Power affiliate, which is focused on industrial power generation. Attached
are the Q&As we are using in response to media inquiries.