I am pleased to announce an organisational change within the European Government and Regulatory Affairs Group that will become effective immediately.  Paul Dawson will assume a leadership role for government and regulatory affairs across continental Europe in addition to his current UK responibilities.   Paul will report directly to me and Rick Shapiro and will be strongly supported by the other senior members of the team: Doug Wood, Peter Styles and Paul Hennemeyer.  Richard Lewis and Eric Shaw will continue to work closely with the group along with Rick Shapiro who will continue to provide the team with strategic guidance to ensure that the European Government Affairs group is fully integrated within the global government affairs function.

I believe these changes will enable us to maintain Enron's leadership in regulatory efforts to broaden the markets available to us, to capitalise on regulatory changes and to continue the group's major contribution to our commercial success in the UK and Continental Europe.