Announcing the Formation of One Corporate Equity Investing Unit

To better develop and manage equity investment opportunities related to our 
core businesses, Enron has formed one corporate equity investment unit.  This 
new unit, Enron Principal Investments, will combine the existing investment 
units of ENA, EBS and Enron Investment Partners.  The strategy of Enron 
Principal Investments will be to work with the all the business units across 
Enron to identify, execute, and manage equity investments, which leverage the 
unique and proprietary knowledge of Enron.   These investments may be in the 
form of venture capital, LBO's, traditional private equity and distressed 
debt positions. 

Kevin Garland will serve as Managing Director, overseeing all activities of 
Enron Principal Investments.  Michael Miller and Gene Humphrey will both join 
Enron Principal Investments as senior investment professionals in the group.  
Additionally, many other legacy investment positions existing in Enron will 
be transferred to Enron Principal Investments.  Richard Lydecker will 
continue to manage these legacy investments.  

This new investment unit will report to Greg Whalley, in his capacity as an 
Enron Policy Committee member.  Please join me in congratulating and 
supporting Kevin, Michael, Gene, Richard and the other members of this group 
in this effort.

Jeff Skilling