Enron Mail

Subject:Enron Principal Investments - Organizational Memo
Date:Thu, 20 Sep 2001 20:36:52 -0700 (PDT)

Enron Principal Investments (EPI), which was formed in the 2nd quarter, has completed its integration and the development of its new strategy. This group will be responsible for identifying, closing, managing and exiting all non-E&P equity investments for Enron worldwide. Kevin Garland will lead EPI, which includes Barbara Paige, Andrew Marsden, Kevin Kuykendall, Steven Sheldon, Michele Nezi Marvin and Mark Gandy. Additionally, Dick Lydecker and the Special Asset Group will continue to report to Kevin.

EPI will pursue investments related to Enron's core businesses, where Enron has a unique insight into the market, company or technology. Initially, this will be geographically focused in North America and Europe. This group will rely heavily on the support and cooperation of the core business units to provide information and market insight.

EPI may make investments in the form of venture capital, leverage buyouts, growth equity, or private equity in public companies. The group will not make investments in seed stage companies, other funds, subsidiaries of larger corporations, or project equity.

Please join me in supporting the efforts of Enron Principal Investments.