Mike and I have spent the last few weeks learning about each of your
businesses, and we are convinced that EGM can be a tremendous driver in
Enron's growth. We have an opportunity to dedicate significant resources to
each group, and grow them with tremendous focus. To that end, I would like
to maintain consistency and closely manage that growth as we begin this
process. Accordingly, please do not make any organizational changes, offer
employment contracts, or hire/fire anyone until I approve. Once we
streamline our evaluative processes, and make any necessary organizational
changes, Mike and I will take a more liberal approach to these activities.

Thanks for your cooperation.

Jeff