ENVERA DEAL DESCRIPTION

Jeff:

Attached you will find three files:

1) The brief description of the Envera deal you requested. ("deal summary
final")
2) A diagram showing one potential view of how the e-Marketplace for
Chemicals will look and where Enron would fit in. ("deal summary e-commerce
marketplace")
3) A slide from Envera displaying their connectivity concept. Enron will
participate as a Member, a Service Provider and an Owner. ("basic envera
concept")

Deals obviously are never done till they're done, but this one is 95+ %
there. We've received Envera Board Approval and signatures from 1/3 of the
Owners' granting consent to issue equity to Enron.

Thanks to both you and John for your support. We could not have come this
far without it.

Doug