Response statements for PG&E exposure

The following would be used only in response to media questions regarding
PG&E credit exposure.

Enron does not comment on specific credit exposures. We are confident we
have established adequate reserves related to energy issues in California and
regardless of what happens there we are also confident we will meet our 2001
(recurring) earnings per share estimate of $1.70-$1.75.

(If pressed on the accuracy of the amount listed in PG&E's declaration)
There are lots of numbers being tossed around for all parties that are owed
money by PG&E. All of them are subject to to modification as information is
corrected or updated. The numbers in PG&E's initial filing were estimates
based on six month old PG&E data that may have been assembled very quickly.

(If pressed on the amount in the creditor committee letter) Enron will not
comment on specific credit exposures. We will not confirm or deny any such
numbers rumored to be in confidential correspondence. Any number presented
would need to be further examined relative to collateral, reserves and other
credit offsets available under the circumstances. Again, we are very
confident that no event related to this issue will prevent us from meeting
our 2001 (recurring) earnings per share estimate of $1.70-$1.75.

If we are asked if we filed to be on the creditor committee, I would confirm
that we did, and we are.

Mark