Team,

I've started on this week's action items and have built some pro-forma models
for 1996 financial statements that should help in writing the memo.  Feel free
to look at what I've done.  As you can see the memo still needs to be written
and I didn't complete the final 2 questions.

Let's talk.




**********************************************
Mark D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345 California Street, Ste. 1400
San Francisco, CA  94104
(415) 733-4487 ph.
(415) 733-4190 fax


____________________Reply Separator____________________
Subject:    Re: E234 Course Materials
Author: Jeff.Dasovich@enron.com
Date:       01/24/2001 5:15 PM

thanks very much.
 - Clarkson.xlw
 - CaseQuestions.doc