Client Companies
Visual Bridge - The company is negotiating content/streaming transactions 
with two Latin American clients.  Expect to close one or both transactions by 
year end.  Initiated discussions with EBS to review technology for EBS 
clients.
Cynet - Expect to close sale of fax broadcast business by December 15, but 
will have to finance $3.5 mm of $7.0 mm purchase price.  We are evaluating 
alternative structures to address collateral issues and pay down a portion of 
our existing preferred position.
Illusions Screen Printing - Moore Business Systems (an Enron Vendor) is very 
late on a significant receivable for the company.  We are working with Enron 
personel to address the issue.
American Communication Services - Increasing SWB agency business and 
developing prime contractor relationship with SWB.
Treasury Connect - The company is having limited success in fund raising.  
Currently the company is negotiating with TH Lee, Softbank and Reuters for 
investments.  Paribas has committed to a private label portal transaction and 
Deutsche Bank is reviewing a proposal.  With no new revenues, the company 
will run out of cash at the end of January.  If currently anticipated 
consulting and private label transactions are completed, the company should 
be able to operate through March without additional financing.
Cabo's - Indicated that their liquor license had not been issued yet because 
of delays caused by a background review of one of the limited partners.  
Expect to have this addressed shortly.

New Transactions
Urban Financial - Expect closing December 15.  Our client negotiated a 
significant reduction in the purchase price, in large part, because of an 
equity funding shortfall.  Capital ratios for the bank will remain strong and 
the new bank has already received indications of commitments from State of 
Connecticut agencies.
Custom Feeds - Omni Bank is preparing their documents.  All other documents 
have been drafted and are being reviewed.
Wilson Financial - Received financing term sheet from Chase Bank.

If you have any questions, please call.

Thanks,
mark


Mark Lay
Enron Investment Partners
333 Clay St., suite 3700
Houston, TX 77002
p 713-853-7408
f 713-345-7670