Enron Mail

To:greg.whalley@enron.com, ken.rice@enron.com, david.delainey@enron.com
Subject:FW: Draft of Organizational Announcement
Date:Thu, 7 Jun 2001 05:30:00 -0700 (PDT)

Attached is a draft of the organizational announcement. Please provide


Subject: Draft of Organizational Announcement

Announcing the Formation of One Corporate Equity Investing Unit

To better develop and manage equity investment opportunities related to our
core businesses, Enron has formed one corporate equity investment unit. This
new unit, Enron Principal Investments, will combine the existing investment
units of ENA, EBS and Enron Investment Partners. Additionally, the Enron
Special Asset Group will also become part of Enron Principal Investments.
The strategy of Enron Principal Investments will be to work with the all the
business units of Enron to identify, execute, and manage equity investments,
which leverage the Enron's unique and proprietary knowledge. These
investments may be in the form of venture capital, LBO's, traditional private
equity and distressed debt positions.

Kevin Garland will serve as Managing Director, overseeing all activities of
Enron Principal Investments. Gene Humphrey, Michael Miller, Dick Lydecker,
and their groups, will join Kevin and his group to form this new investments

This new group will report to an investment committee consisting of Greg
Whalley, Ken Rice, and Dave Delainey. Please join me in congratulating and
supporting Kevin, Gene, Michael, Dick and the other members of this group in
this effort.

Jeff Skilling