Enron Mail

Subject:Enron Experience
Date:Mon, 9 Oct 2000 13:53:00 -0700 (PDT)

Hi Ken,

I read with interest today about Enron on your corporate web site and your
recognition as one of the top U.S. CEOs. Such success usually results from a
history of strong business and customer relationships. With this in mind, I
felt compelled to bring my one and only experience with Enron to your

I am President, CEO of Xign Corporation located in Pleasanton, CA. Our
company is developing software for electronic payments. Our board of
directors includes Charles Schwab and Bob Kimmitt (former U.S. Ambassador to
Germany and President of Commerce One).

Our company signed an intent last June with Enron to sublease an office
building. My team worked in good faith with Enron people for 5 months
waiting for a draft lease. During this period we were delayed time and
again by "lack of legal resources" to complete the contract. Last month we
were told that Enron still wanted to lease the space, but the vacancy would
be delayed one month (from the original October 15th date). Two weeks ago
we were told that a November date was at risk and the lease could not be

This week the Enron representative told us (1) there is no occupancy date
that can be established and (2) Enron is not willing or interested in
telling us when we they can set a date. End of conversation.

Our company has pursued this matter for six months with assurances by Enron
of their intention to move forward in good faith. My company is now down to
100 days in our current lease in a market with very little available space.
This will materially effect our operation and our shareholders. Enron did
not legally commit to the lease. But continued reassurances of the intent to
sign the lease, misled us. We won't make a similar mistake in the future.

We all operate as members of a business community. I'm sure my experience
with Enron is not reflective of your organization as a whole. I would
certainly appreciate if you could have someone look into this matter and
let us know if there might be a solution to this situation that works well
for all parties.

Thank you very much,

Tom Glassanos
President, CEO
Xign Corporation
(925) 876-2326