-----Original Message-----
From: 	Mcclellan, George  
Sent:	Wednesday, November 14, 2001 11:58 AM
To:	Palmer, Rhonna
Subject:	Enron / Dynegy Merger - Core Businesses


We have been working for the past week to confirm our position as a "core" business for Enron, and later with Dynegy after our merger is completed next summer.  As most of you heard today, Greg Whalley confirmed during the analyst call that global coal, along with the pipes, power and natural gas are the core businesses of the company going forward.

As difficult as it is to imagine, Enron has only been in the coal business for 4 - years, and vessel trading for 2 - years.  In that time we have built a global franchise, and established ourselves as the premier coal and vessel trading company.  We have enjoyed success in the domestic and international markets due to the strength and depth of our team.  I am very proud to be associated with each of you, and look forward to our working together with Dynegy as we integrate the coal businesses of each company into an even stronger organization.

Thank you for your patience and focus during the past few weeks. The end result certainly appears to have been worth the effort.  

George