BUSINESS HIGHLIGHTS

Weather Group

Let,s give a big round of applause to the Weather Team!  Environmental 
Finance Magazine ranked the weather group #1 in Online Services and #1 Dealer 
in the United States and Europe.  Gary Taylor, manager in weather trading, 
comments, "The "Best Dealer" award reflects our counterparties' appreciation 
for the significant effort we have made to drive the growth of our market by 
making two-sided markets where other companies are only willing to quote 
either a bid or an offer.  This award also reflects the innovative nature of 
everyone on our desk, and their ability to price non-standard structures for 
our customers.  It is truly a team award.  The "Best Online Dealer" award is 
simply another testament to the unparalleled success of EnronOnline.  By 
providing tight, two-way markets online, we have provided two critical 
elements to generate growth in our market: 1) an element of price discovery, 
and 2) a quick and easy way to transact."

The Weather Risk Management group launched a new product this week:  Power 
Demand swaps.  These contracts use power demand as an index and allow power 
market participants (generators, btu distributors, marketers, etc...) to 
mitigate volumetric exposures.  The first contract the desk offered is for 
the PJM power pool.  On EnronOnline, weekly swaps are available and the desk 
has placed option contracts on this index in the broker market.  Inquiries 
regarding this product should be directed to Claudio Ribeiro (product 
manager) x37313, Gary Taylor x31511, or Valter Stoiani x36906.

Competitive Analysis and Business Controls
eSource, Enron's premier corporate-wide research group, launched their new 
intranet product, eSearch, on December 1, 2000.  eSource's team of 
specialized researchers have created a web site to bring information and 
research to every employee's desktop.  The eSearch web site offers many links 
to information resources, access to research databases, specialized searches, 
sites to purchase books, articles, and reports, and training.  Employees can 
use the web site to conduct their own research or as a vehicle to submit 
research requests.  eSource's researchers and industry specialists are 
available to all Enron business units to provide timely and cost efficient 
research, to work with individuals or groups to fulfill one time research 
requests, or to design ongoing, customized monitoring projects or news 
updates.

Enron Global Markets Fundamentals
EGM Fundamentals is quickly building a team of expert analysts and associates 
to work directly with traders and marketers.  The team is already busy 
analyzing various commodities and market situations.  For example, an 
initiative is underway to analyze current negative fractionation spreads in 
the market resulting from rising natural gas prices.  Web sites to host this 
analytical information are currently in development for all EGM commodities.  
These sites will provide research and analysis, weather, publications, and 
any other information that will assist in decision-making or identification 
of potential commercial opportunities.  For questions or requests regarding 
fundamental research, contact Jennifer Fraser at x34759.  For questions or 
suggestions regarding the web sites, contact Heather Purcell at x54057.

Austin Energy
Austin Energy and Enron Sandhill, L.L.C, a subsidiary of Enron North America 
broke ground November 29, 2000 for the construction of the Sand Hill Energy 
Center, a 180-megawatt peaking electrical generation facility.  Located in 
eastern Travis County, the Sand Hill Energy Center will be a natural gas 
fired facility that will operate primarily during peak demand periods.  The 
$93.7 million project will feature four 45-megawatt General Electric gas 
turbines and will be operational May 1, 2001.


NEWS FROM THE GLOBALFLASH

Coal
The London dry cargo seafreight team traded 1 million metric tonne of 
Capesize vessel swaps via EOL in one day, (Wednesday 28th November). The deal 
was created by combining OTC options and a physically related cash market 
deal.  This helps to bring our YTD EOL to just under 2.5 mln tonne.

Off-shore wind energy deal
Enron Wind has signed a power purchase agreement with Swedish energy company 
Graninge.  According to the agreement, Graninge will deliver electricity to 
consumers using Enron's wind power plants in southern Sweden.  Enron Wind's 
Utgrunden off-shore wind park, completed this year, will generate in the 
region of 38,000 megawatt hours of electricity, or enough for around 6,000 
average homes between the mainland and the island of Oland on the southeast 
tip of Sweden.  In an announcement this week, Graninge stated that it plans 
to market the power to consumers as 'green' energy.

Happy 1st Birthday EnronOnline!
This week saw EnronOnline celebrate its first birthday.  During the course of 
its first year, EnronOnline has passed a number of milestones including the 
addition of a range of new functionalities for customers on the site.  
EnronOnline has now come of age, having surpassed the $274 billion mark in 
notional value in November.  This represents a total of 478,695 transactions 
since the site was launched on 29 November 1999.

The first anniversary was marked by giving the media guest access to 
EnronOnline in Europe.  A team from Reuters was invited into Enron House to 
receive a full demonstration of EnronOnline and as of today will be able to 
quote in reports live prices from EnronOnline.  Other media outlets are being 
invited to obtain guest access during the coming weeks as the word of 
EnronOnline's success continues to spread...

Australia
Enron Australia continues to assist in the region in a supportive role.  
Elliott Katz worked on the GEM migration in Singapore last week with an IT 
team from London, Oslo and Singapore.  Approximately 40 users, including 
Traders, were migrated to Windows 2000 and the CORP domain.  This is an 
important step for the Asia Pacific region, as it brings the three biggest 
offices (Singapore, Sydney and Tokyo) into line with corporate standards for 
desktop computing.

Japan
E-Power, a JV between Enron and Japanese finance company Orix, has announced 
proposals for a 2000MW gas-fired power plant at Mutsu-Ogawara, an industrial 
area  in northern Japan.   A feasibility study will be undertaken to define 
how the project will go forward and this may include the development of an 
LNG terminal in the vicinity.  The nature of the permitting process is such 
that the plant would not begin operations for six to seven years.  This 
project is just one of several options that E-Power are working on in Japan.


NUGGETS & NOTES

&Go Big or Go Home8 ) Mike McConnell/President & CEO-EGM

"Call Back" - Don Schroeder, VP/Crude Trading-EGM


REMINDER

Holiday Party
Enron North America, Global Markets and Industrial Markets
Enron Field
Saturday, December 9
7:00 - Midnight

WELCOME
New Hires ENA/EIM/EGM
ENA ) Joseph Taylor, Jennifer Rosado, Rabi De, Louis Dicarlo, Scott Churbock, 
Kenneth Parkhill, Nicholas Ernst, Dirk Dimitry, Stephanie Taylor, Dimitri 
Tagaropulos, Georgia Blanchard, Jona Kimbrough, Jeffrey Baldwin, Patricia 
English, Jaesoo Lew, Cheryl Nelson, Gina Abbott, Ryan Keith, Brian Dawson
EGM )Ellen Alexander, Mike Perun

Transfers to ENA/EIM/EGM
ENA ) Gregory Golden
EGM ) Keynan Dutton


FROM THE EDITORS

Thank you to all the contributors to this week's EnTouch.  We want to hear 
from the various departments within Enron Americas, Global Markets and 
Industrial Markets!  Please continue to send your business highlights, 
nuggets & notes or suggestions to Michelle Vitrella or Kathie Grabstald.


LEGAL STUFF

The information contained in this newsletter is confidential and proprietary 
to Enron Corp. and its subsidiaries.  It is intended for internal use only 
and should not be disclosed.