We are pleased to announce the following within EGM:

The Convertible Bond Arbitrage desk will be moving from EnronCredit.com to 
the Equity desk under Gary Hickerson, and will be managed by Mike Bradley.  
Billy Lemmons has joined Gary Hickerson's unit as well.  He is exploring the 
agriculture value chain and outlining our risk management, (What else here?)

Dan Reck will be transitioning out of the coal group and will be exploring 
our rail and trucking initiatives.  These markets together represent 
approximately $105 billion notionally, and we believe there are many 
synergies between our energy, coal, and freight trading businesses.  In 
addition, we have asked (Pierre Aury to run our worldwide vessel trading 
businesses.  Scott Moncrief will be responsible for all liquids vessel 
businesses reporting to Pierre)  (should we mention cement here under george 
mclellan?)

Our worldwide weather operations will continue to report to Mark Tawney in 
Houston, and he will have all V@R  allocation responsibility between Sydney, 
Tokyo, Oslo, and Houston.  In addition we will be forming a weather marketing 
desk in London.

Janelle Scheuer will be joining the Global Products from Enron America's East 
power origination group, and is responsible for developing a mid-market 
business specifically for our liquids businesses.  She will be reporting to 
John Nowlan.  Bill White will be coming over from EBS and has responsiblity 
for all U.S. financial crude trading.  Don Schroeder will continue to have 
oversight of our physical crude business.  

Anything else?