Pat

For your information, I have attached the current proformas (UBS and the standard).  I know John and Mike have had a lot of conversations on this - essentially where we stand is that the work has been done to complete the commercial reductions (by name) but the non-commercial groups have just been reduced across the board and we intend to start the process today on how to cut the numbers on the non-commercial side.  The theory was that communicating the Netcolite concept was something we would not do until we had a bit more clarity.  Webb knows but that's about it on the non-commercial side.

Hope this helps.

Louise

  

Louise Kitchen
Chief Operating Officer
Enron Americas
Tel:  713 853 3488
Fax: 713 646 2308