My Retirement

Ken: It is my desire to retire from Enron at the end of March, 2001. Thanks
to you my financial position far exceeds what I had ever thought would be the
case.

I am still in great health, have plenty of competitive drive and have no
desire to reduce my natural speed. I shared with you my desire to seek an
ambassadorship in a George W. Bush presidency. Possibly the OECD where I
think I can make a contribution.

You have been a great leader to follow and my entire family is grateful to
you for the blessings and rewards you have brought to us. My thanks to you.

I plan to inform Steve Kean and Rick Shapiro of my proposed date next week
when I believe they will be in Washington to interview additional candidates
as finalists in the search for my successor.

Joe

PS: I enjoyed the time with you, Linda, Elizabeth and Jose Luis in
Philadelphia.