8214 Colonial Oaks Lane
                                                                                                                                            Spring, Texas 77379
 
                                                                                                                                            December 20, 2001
Regarding: energy trading positions 
 
To Hunter Shively:
 
I am writing to you to express my desire to be apart of the Wholesale Power and Gas Trading operation that will potentially be created with an entity that has a high credit rating.  I have been working for Rogers Herndon in Enron Wholesale Services on the Options Desk.  In this role I have modeled the power options that are embedded in the various deals done through Enron Energy Services with large industrial and commercial clients.  In addition, I profitably managed the positions and priced deals for structurers and originators.  I realize that now is a difficult time but am confident that I would make an excellent addition to your team for several key reasons:
 
?         Proven experience in the financial markets and direct trading experience in various markets, including electricity and natural gas, mortgage backed securities, U.S. Treasury securities, foreign exchange, EuroCurrency and EuroDollar deposits
?         Team player and high work ethic, successfully balancing trading opportunities with managing risk
?         Solid portfolio management and risk management experience in electricity and mortgage banking 
?         Five years direct experience in trading, risk management, structured products and marketing of electricity for the United States
?         Actively involved in the physical markets and strong understanding of the western grid
?         Experience trading OTC forwards and options at major hubs in other NERC regions such as Cinergy, Entergy, ERCOT, NEPOOL and PJM
?         Worked for both unregulated power marketers and regulated utility
?         Extensive experience in derivatives and structured products
?         Ability to effectively work with marketers pricing and structuring deals for industrial and commercial end users of energy
?         Strength in mentoring junior traders
 
Thank you,
 

Rick J. Wurlitzer

Home: (281)251-6210,  Work: (713)853-5049
E-Mail: Home: r.wurlitzer@att.net <mailto:r.wurlitzer@att.net>, Work: rwurlitz@enron.com