Great Expectations
Forbes - 10/16/2000
BY Lynn Cook
Copyright 2000 Forbes Inc.

ENRON INVESTMENT PARTNERS' BIGGEST GAMBLE TO DATE HAS BEEN THE $4 MILLION IT 
pumped into Cynet. The software outfit relies on a wireless modem that plugs 
in to a laptop or PC and lets you e-mail, fax, and use voice-and 
data-messaging. That may not sound like much. But imagine e-mailing thousands 
of people at once--or sending a document and following with a prerecorded 
message to tell folks to check their fax machines. Cynet is also developing 
the ability to retrieve e-mail messages as voice mail on a laptop and to 
translate voice mail into e-mail.

The investment helped launch Cynet as the first African-American company to 
go public out of Houston. How's it doing? Not so hot. After the initial 
offering in January the stock jumped to $8, but it got pummeled in April and 
now hovers around $1. It has yet to recover. 

Still, Enron is holding on to its investment, now worth only $1.9 million. 
Cynet holds the exclusive North American marketing license for Teleran 
Electronic's wireless modems. That's got to be worth something. Compaq 
Computer is using the technology to add high-speed wireless Internet 
connections to its iPAQ Pocket.