Mary Nell, I would appreciate your following up on this. Thank you. Jim

 -----Original Message-----
From: 	Cole, Kate  
Sent:	Wednesday, December 19, 2001 9:09 AM
To:	Derrick Jr., James; Browning, Mary Nell; Perkins, Mary
Subject:	FW: Enron Netherlands BV
Importance:	High


I'm forwarding this to you because it's outside of my bailiwick completely!  I hope you can respond to this gentleman.  KC


Kate B. Cole
Director, Corporate Services
Enron Corp.
Tel: (713) 853-1624
Fax: (713) 646-8007
Email: kate.cole@enron.com

 -----Original Message-----
From: 	Van Vuuren, Dirk  
Sent:	18 December, 2001 9:44 AM
To:	Cole, Kate
Cc:	Groen, Hans-mart; Doude Van Troostwijk, Jan; Van Biert, Teun
Subject:	Enron Netherlands BV


Dear Kate,

We (the four employees as mentioned below; "The Party's") have a labour contract with Enron Netherlands B.V. an entity of which Insinger de Beaufort / Equity Trust Co. N.V. is formally in charge. At this moment The Party's are still employed by and working for Enron in the Netherlands. Until now it looks like though The Party's will not receive the monthly payment for December 2001 that will be due on the 20th of this month (as per the respective labour contracts). Untill this month the actual payment came from the UK but it is very unlikely that this will be the case in December and onwards.

Furthermore we know that Enron Netherlands B.V. has sufficient funds in 3 different bankaccounts (in cash and collateral) and will therefore not be able to go bankrupt at this moment in time.

As Equity Trust Co. N.V. is formally in charge of this particular entity they are able (and even obliged) to do the monthly payment but they will only facilitate this as soon as they have received sufficient instructions. The instruction should not only instruct them to do the monthly payment as such but also explicitly tell them to use the available cash and/or collateral for that. For your information: the collateral I am talking about is currently still in the hands of the Dutch Transmission System Operator ('Tennet') as a kind of guarantee for the trading we used to do but no longer (can) do.

Please note as a practicality that the necessary administrative handling regarding the monthly payments (calculating nett amounts etc.) is done by PriceWaterhouseCoopers in Rotterdam. For details regarding the specific and individual monthly payment obligations of Enron Netherlands B.V. towards The Party's Equity Trust can contact mrs. Kenny Toekimin or mrs. Helene van Bommel at PWC on telephone number +31 10 400 8600.

If you have any further questions please don't hesitate to contact me in the Enron Amsterdam office on +31 20 654 1957 or on +31 10 5916168 or alternatively per e-mail.

Kind regards,
Dirk J. van Vuuren
Manager Business Origination
Enron Netherlands


The Party's:
H.M. Groen
J. Doude van Troostwijk
T. van Biert
D.J. van Vuuren