Thanks.

 -----Original Message-----
From: 	"Emery, Henry" <henry.emery@ubspainewebber.com>@ENRON [mailto:IMCEANOTES-+22Emery+2C+20Henry+22+20+3Chenry+2Eemery+40ubspainewebber+2Ecom+3E+40ENRON@ENRON.com] 
Sent:	Friday, June 08, 2001 8:31 AM
To:	Presto, Kevin M.
Subject:	RE: Portfolio

Will do. Let me figure something out for the online portfolio. The only
problems we have for the online portfolio are that it is pretty limited in
our parameters. We'll figure something out though.

Thanks,
Hank Emery

-----Original Message-----
From: Kevin.M.Presto@enron.com [mailto:Kevin.M.Presto@enron.com]
Sent: Thursday, June 07, 2001 7:15 PM
To: henry.emery@ubspainewebber.com
Subject: RE: Portfolio


I think you forgot the cash position.  I would rather have on-line
valuation, even if the $'s aren't perfect.   I like to look at my personal
equity portfolio (includes Enron hedging) separate from Enron granted stock
and option value.

One portfolio is liquid and the other is not and I monitor differently.

    -----Original Message-----
   From:   "Emery, Henry" <henry.emery@ubspainewebber.com>@ENRON

[mailto:IMCEANOTES-+22Emery+2C+20Henry+22+20+3Chenry+2Eemery+40ubspainewebbe
r+2Ecom+3E+40ENRON@ENRON.com]


   Sent:   Thursday, June 07, 2001 5:13 PM
   To:     Presto, Kevin M.
   Subject:  RE: Portfolio

   Mr. Presto,
   Why don't I just do this for you on a monthly basis? Please see attached
   PDF
   Acrobat file. Please let me know if you have trouble opening it.

   Thanks,
   Hank Emery




   -----Original Message-----
   From: Kevin.M.Presto@enron.com [mailto:Kevin.M.Presto@enron.com]
   Sent: Thursday, June 07, 2001 4:00 PM
   To: henry.emery@ubspainewebber.com
   Subject: RE: Portfolio


   Thanks.

       -----Original Message-----
      From:   "Emery, Henry" <henry.emery@ubspainewebber.com>@ENRON


[mailto:IMCEANOTES-+22Emery+2C+20Henry+22+20+3Chenry+2Eemery+40ubspainewebbe
   r+2Ecom+3E+40ENRON@ENRON.com]


      Sent:   Thursday, June 07, 2001 3:54 PM
      To:     Presto, Kevin M.
      Subject:  RE: Portfolio

      Mr. Presto,
      I'll work on some things. let me play with it for awhile and I'll see
      what
      we can figure out.

      Thanks,
      Hank Emery


      -----Original Message-----
      From: Kevin.M.Presto@enron.com [mailto:Kevin.M.Presto@enron.com]
      Sent: Thursday, June 07, 2001 3:48 PM
      To: henry.emery@ubspainewebber.com
      Subject: RE: Portfolio


      Except it can't be negative because they were grants at no cost to
   me.
      The problem is the combination of restricted stock which is total
   market
      value and options which is gain/loss need to be added together to get
      total
      portfolio value.

      I was hoping you could trick the system so portfolio value was
   accurate.

          -----Original Message-----
         From:   "Emery, Henry" <henry.emery@ubspainewebber.com>@ENRON



[mailto:IMCEANOTES-+22Emery+2C+20Henry+22+20+3Chenry+2Eemery+40ubspainewebbe
      r+2Ecom+3E+40ENRON@ENRON.com]


         Sent:   Thursday, June 07, 2001 3:30 PM
         To:     Presto, Kevin M.
         Subject:  RE: Portfolio

         Mr. Presto,
         That is true, I was wondering if we shouldn't just figure that the
         Gain/Loss(Difference between the current market value and the cost
         basis)
         represents the actual value of the stock option portfolio. Does
   that
         make
         sense?

         Thanks,
         Hank Emery

         -----Original Message-----
         From: Presto, Kevin M. [mailto:Kevin.M.Presto@enron.com]
         Sent: Thursday, June 07, 2001 2:20 PM
         To: henry.emery@ubspainewebber.com
         Subject: Portfolio


         The options are not valued properly.   The market value is
   calculated
         based upon the value of the underlying, which grossly overstates
   the
         market value of the portfolio.  The restricted stock (basis of $0)
   is
         valued OK, but the options are not.

         In addition, the year restricted stock and option grant is not yet
   in
         the portfolio.


         Notice Regarding Entry of Orders and Instructions: Please
         do not transmit orders and/or instructions regarding your
         UBS PaineWebber account(s) by e-mail. Orders and/or instructions
         transmitted by e-mail will not be accepted by UBS PaineWebber and
         UBS PaineWebber will not be responsible for carrying out such
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         and/or instructions.  Notice Regarding Privacy and
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         UBS PaineWebber reserves the right to monitor and review the
   content
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      Notice Regarding Entry of Orders and Instructions: Please
      do not transmit orders and/or instructions regarding your
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      transmitted by e-mail will not be accepted by UBS PaineWebber and
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   Notice Regarding Entry of Orders and Instructions: Please
   do not transmit orders and/or instructions regarding your
   UBS PaineWebber account(s) by e-mail. Orders and/or instructions
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    - PRESTO-MAY.pdf << File: PRESTO-MAY.pdf >>


Notice Regarding Entry of Orders and Instructions: Please
do not transmit orders and/or instructions regarding your
UBS PaineWebber account(s) by e-mail. Orders and/or instructions
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UBS PaineWebber will not be responsible for carrying out such orders
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