Enron Mail

Subject:U.S. Portfolio Managers' Spotlight:December 1, 2000
Date:Mon, 4 Dec 2000 10:59:00 -0800 (PST)

The enclosed research report is being sent to you from PaineWebber by:

Emery Financial Group



Please contact them if you have any questions or would like to discuss this

The information contained in the attached research report is believed to be
reliable, but its accuracy is not guaranteed. PaineWebber Incorporated
and/or Mitchell Hutchins Asset Management Inc., affiliated companies and/or
their officers, directors, employees or stockholders may at times have a
position, including an arbitrage position, in the securities described herein
and may sell or buy them to or from customers. These companies may from time
to time act as a consultant to a company being reported upon.

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- P004484220001201D01.pdf