There are some personnel changes occurring in the Asia Pacific Finance 
Origination group, which is a part of the AP/A/CHI region.  In alphabetical 
order these are:

David Chang has moved into our group from Corporate Finance where he 
participated in a number of the complex financings done with several 
acquisitions in the Southern Cone.  Previously, he worked in ECM on 
structured financings done by Enron Corp. as well as numerous transactional 
related deals.  Before he joined Enron, David was with Nations Bank.  
Initially, David will be focusing on developing additional fixed income deals 
as well as working on finance origination deals generally. 

Arleen Duran has accepted a position in the RAC group working for Mark 
Ruane.  Arleen has been a member of various EI groups namely, EECC, Southern 
Cone and Asia Pacific Finance.  She has been a very positive contributor to 
the Financial Asset effort where she provided strong input into several of 
the Philippine bond investments we've pursued.

Steve Flynn has accepted a position as the Assistant Treasurer, Corporate 
Finance for The Walt Disney Company, which has a centralized finance function 
responsible for all funding, equity and rating agency relationships.  Steve 
is one of the original members in Asia Pacific Finance Origination and has 
been a strong contributor in starting up the group and we will miss him.

Mark Peterson has joined our group from ECT where he was responsible for the 
mid/down stream business and oil service sector investments made by Enron 
Finance Corp.  Most of these investments were made through Enserco, a joint 
venture with SCF Partners, a highly respected investment fund which focuses 
on the service sector.  Mark will be looking to work with many of his former 
clients as they seek to expand their operations internationally and to also 
develop our downstream business with a particular focus on the resource rich 
areas of Southeast Asia.

Nikhil Shah has been promoted to Associate in recognition of his efforts in 
building the investment portfolio of fixed income investments.  Nikhil played 
a key role in the Humpuss, Subic and Advance Agro transactions which will be 
strong income contributors to the region this year. 

Ed Smida will be moving to the Caribbean Basin group working for Frank 
Stabler in a commercial position where he will be working to further enhance 
Enron's operations in that region.  Enron has already met with considerable 
success in that region and has identified a need for additional finance 
origination support to more fully develop our business in that area.

Please join me in congratulating David, Arleen, Steve, Mark, Nikhil, and Ed 
and wishing them success in their new positions.

Mike