BUSINESS HIGHLIGHTS

Enron Japan
Enron Japan Closes Its First Yen Based Dubai Crude Oil Swap (11 Oct)
This groundbreaking deal involved Enron Japan purchasing 12,500 barrels of Yen-priced March Dubai swaps from Japanese trading house, Kobayashi Yoko. Enron Japan purchased the Dubai swaps (Dubai being the marker crude oil in the Asian region) in US$ from Enron Singapore and hedged out the FX risk internally, offering the customer a yen-based product which best suited its requirements.

This deal highlights the large and (as yet) untapped demand amongst Japanese trading houses and end users for oil risk management products. During the 5 months since Enron Japan started its crude and product marketing activities, it has developed relationships with numerous customers that are looking to hedge on the basis of both international and domestic indicies (such as the "Japan Crude Cocktail"). Enron Japan is moving very quickly to develop the kind of products that customers need by utilizing the whole suite of Enron Global Markets capabilities. 


IN THE NEWS

In these challenging times, Enron deserves our thanks 
Houston Chronicle, October 28, 2001  By BILL WHITE 
Enron and its employees have blessed Houston, and many Houstonians should now take the time to say "thanks" when the company has experienced some highly publicized challenges. Enron attracted thousands of great people to Houston and changed Houston's economy forever. The company's management encouraged their employees to be active citizens, and those folks responded by making a big difference in their community. 

Enron's lead in shaping a nationwide market for electricity gave birth to a multibillion-dollar new industry, with Houston as its hub. Even while it competed hard to win in the marketplace, Enron's example helped show other natural gas pipeline and trading firms how to move into the even bigger market of electricity

This explosive growth attracted bright young people -- and they in turn helped fuel an explosion in residential growth in Houston's downtown. This, in turn, helped revitalize downtown's retail and restaurant scene. Enron's construction of a large Class A office tower, still going up, is a milestone in Houston's growth, an official end to more than a decade of large amounts of vacant office space. 

Enron's corporate success reflects the stories of so many of its employees who have lived the American dream. Enron rewarded innovation, while many firms afraid to alter the old formula wondered why their leadership eroded. Year after year, top executives throughout the country voted Enron our nation's most innovative corporation. Enron recognized, even when financial markets do not, that innovative firms are secure enough to accept occasional failure and the inevitable price of other successes. 

And so if Enron experiences problems, it will learn from them, just as strong people do. Let's not prejudge Enron's current challenges. The more than a decade of my life that was dedicated to trying cases against companies who hurt consumers and investors taught me both to insist on the truth but never to jump to premature conclusions based on a headline or a news story. 
Throughout its years of success, Enron folks have never forgotten to find so many ways to make the firm's hometown of Houston a better place to live and work. As Enron enters a new phase of its life, let's not forget to express thanks and steady support. 

White is a Houston business executive and civic leader and former government official, with no relationship to Enron


WELCOME
New Hires
EGM  - Victor Dvortsov, Brian Murray
EIM   - Marcus Mays
ENA  - David Adams, Karen Boehnke, Angela Seaworth, Karen Francis-Kistow, Jennifer Kirkland

Transfers (to or within)
EIM - Michael Guerriero


NUGGETS & NOTES

Portland Bikes to Work
In September, the Portland Office participated in the 2001 OREGON BIKE COMMUTE CHALLENGE sponsored by the Bicycle Transportation Alliance (BTA).  BTA is a non-profit organization working to promote bicycle use and to improve bicycling conditions throughout the state of Oregon. More than 185 businesses and public agencies across the state and SW Washington registered for the competition to see which among them could tally the most bike commutes over the course of the month.  Within our category of companies (100-400 employees), Enron came in first place with a total of 21% office ridership.  This was a terrific turnout (second place was under 13% ridership).  The Enron participants had a blast - we broke into teams to challenge each other with total miles and total trips.  A website was created for our teams to track the number of trips and watch the competition.  Overall, Enron participants completed 1113 commutes for a total distance of 4645 miles, saving 258 gallons of gasoline.  Bicycling Magazine recently named Portland "Best Bicycling City in North America".  Many thanks to Heather Dunton for leading Enron's participation.


EnronOnline Figures
Below are the latest figures for EnronOnline as of October 31.

*	Total Life to Date Transactions > 1,620,000
*	Life to Date Notional Value of Transactions > $ 898 billion


Enron Wholesale Services Best Practice Tips
IBuyit Delivery Address - Best Practice
To prevent delays in receiving orders, delivery address and phone numbers must be provided. 
IBuyit eProcurement now prompts users to enter this information prior to shopping. Click on the link to learn the ins and outs of inputting delivery address information. <http://home.Enron.com:84/messaging/deliveryaddressscreen.ppt>.  
Timesaving Tip:  Updating My Settings from the main eProcurement screen eliminates the need to enter Building, Floor/Room, and Extension within the delivery address.

Corporate Express and Lee are committed to next day delivery. However, if you have questions about your office supply order, contact the appropriate vendor and provide either the Company Number and Cost Assignment or the Purchase Order Number.
Corporate Express: 713-853-6294
Lee Stationery and Office Supply Co., David Yee or Faye Hopkins: 713-227-1201

LEGAL STUFF
The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries.  It is intended for internal use only and should not be disclosed.



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