Enron Mail

Subject:Option Expiration
Date:Tue, 30 Oct 2001 08:50:57 -0800 (PST)

Mr. Lay-

I am a long-term Enron employee and have shared your vision of building Enron for over 10 years. It has been exciting being a part of building the World's Largest Energy Company. I am concerned about the short term turn of events at Enron but still feel loyal and committed to Enron and your vision. Unfortunately, my passion to follow your vision has led me to keep the many stock options I have accumulated over the years instead of "cashing out". I am now faced with options that not only are "under water" but also some will expire as soon as January 2002. I know it is not possible to reset the option price. However, is it possible to extend the option expiration date on these options a few years? I believe Enron will eventually rebound and I still believe in your vision but I also believe it will be a while before we can recapture the confidence of the markets.

Thanks and keep the faith.

Scott Affelt