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:	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.


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