PG&E BANKRUPTCY CASE-- IMPORTANT

As you may be aware, Enron Corp. is a member of the Official Unsecured
Creditors' Committee appointed in the Pacific Gas and Electric Company
bankruptcy case. Michael Tribolet with the Risk Assessment and Control
Group is Enron's designated representative on the committee and he is being
assisted by Lisa Mellencamp in the Enron North America Corp. legal group.
Please be advised that they will be restricted from disclosing certain of
the information that they receive.

Attached are Ethical Wall Procedures regarding confidential information
that Enron may receive as a member of the committee. It is important that
you read the procedures promptly, print the Employee Certification attached
and sign and return the Employee Certification to the Compliance Department
as directed.

(See attached file: EthicalWallProcedures.doc)

(See attached file: EthicalWallEmployeeCertification.doc)

- EthicalWallProcedures.doc
- EthicalWallEmployeeCertification.doc