Dr. Kenneth L. Lay 
Chairman & C.E.O. 
Enron Corporation 

Dear Dr. Lay: 

I am pleased to invite you to join my CERA colleagues and me at our 20th 
annual Executive Conference, "Shooting the Rapids: Strategies and Risks for 
the Energy Future" to be held February 12-16, 2001 in Houston, Texas.? This 
is the premier international gathering offering senior executives new ideas, 
insights and strategic thinking on the issues facing the global energy 
industry.

I believe you will find the conference and related social events timely and 
of considerable value.? Our focus will be on the critical implications of the 
current market turmoil for energy strategies, investment, regulatory 
backlash, competitive dynamics, and industry structure.? Presentations cover 
all key regions and energy sectors -- oil, natural gas and power -- and their 
interconnections.? The conference is the centerpiece of CERAWeek, a full week 
of senior level meetings designed to foster exchange and learning, as well as 
informal interaction and networking.? Last year's participants included some 
1600 executives from over 57 countries.

Complete details on CERAWeek 2001 can be found at? 
http://www.cera.com/cfm/track/mc.cfm?p=670&c=150? . To register, please go 
directly to http://www.cera.com/cfm/track/mc.cfm?p=781&c=150? ; email 
register@cera.com; or call us at 1 (800) 879-2372 ext. 800 (outside the U.S. 
(617) 497-6446 ext. 800).? I hope you will join us!

Sincerely, 

Daniel Yergin 
Chairman, Cambridge Energy Research Associates 

Should you experience problems reaching the web site using the links above, 
please go to http://www.cera.com/ceraweek/ 
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