No worries, Greg.  We'll continue to focus on an impeccable integration of
the Kiodex Risk Workbench into EnronOnline.

Regards
M.

-----Original Message-----
From: Piper, Greg [mailto:Greg.Piper@ENRON.com]
Sent: Thursday, November 01, 2001 11:09 AM
To: R. Martin Chavez
Cc: Richter, Brad; Zipper, Andy; Webb, Jay; Pickering, Mark; Beck, Sally
Subject: RE: Independent Kiodex analysis of EnronOnline risk?


I understand your point, but we will have to pass at this time.

We do own an equity stake in Kiodex and that could effect the view as
well as we do a significant number of transactions off EnronOnline that
would not be captured.

Thanks.

GP

-----Original Message-----
From: R. Martin Chavez [mailto:martin.chavez@kiodex.com]
Sent: Wednesday, October 31, 2001 4:42 PM
To: Piper, Greg
Cc: Zipper, Andy; Webb, Jay; Raj Mahajan; Thomas Farley; Sean Maloney;
Raj Vaswani
Subject: Independent Kiodex analysis of EnronOnline risk?


Greg, we've been able to load thousands of EnronOnline trades into our
Risk
Workbench, and we've correctly run risk reports on them.  Might we be of
service to Enron by loading ALL the EnronOnline trades into the Risk
Workbench, and running our risk reports on the aggregate?  I'm thinking
that
such an independent analysis of at least part of Enron's risk position
might
answer the requests, expressed among analysts and pundits in the FT, the
WSJ, and elsewhere, for greater disclosure.

Everyone is excessively worried about mysterious packages these days.
Just
as Enron pioneered transparency in the energy markets, Enron can set the
gold standard for disclosure of aggregate risk.  (I know the other
dealers
will want to squirm their way out of following suit.)  I have supreme
confidence in Enron's risk controls, and I'm thinking that an
independent
measurement of this kind could dispel the market's overblown and
baseless
fears.

Please let me know your thoughts.

Kind regards
Marty

R. Martin Chavez
Chief Executive Officer
Kiodex, Inc.
+1 877 6 KIODEX
+1 646 437 3811   direct
+1 646 437 3832   fax
+1 917 294 6080   mobile
www.kiodex.com


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Disclaimer: This e-mail may contain confidential and privileged material for
the sole use of the intended recipient(s).  If you are not the intended
recipient (or authorized to receive this e-mail for the recipient), please
note that review, use, distribution or disclosure of any part of this e-mail
is strictly prohibited, except that you should please contact the sender or
notify Kiodex, Inc. at notices@kiodex.com that you have received this
message in error, and delete all copies of the message.  This e-mail and any
attachments hereto are the property of Kiodex, Inc. and/or its relevant
affiliate, and are not intended to be an offer or an acceptance, and do not
create or evidence a binding and enforceable contract between Kiodex, Inc.
or any of its affiliates and the intended recipient or any other party, and
may not be relied on by anyone as the basis of a contract by estoppel or
otherwise.