Jeff:

I heard about your departure from Enron two weeks ago.  I was very
surprised. It must have been a very difficult decision for you as I know
how much of your heart and soul your poured into transforming Enron into
the preeminent company that it is now.  I hope that you are very proud of
what you accomplished over the past 12+ years.  I have never come across
a management team that even approaches the quality of you, John
Esslinger, Ken Lay and Rich Kinder.  I have also never come across a
business visionary anywhere near you and I expect that I, and everybody
else, will see you accomplish great things again.  But whatever you do, I
hope that this message finds you feeling well and happy.

Regards,

Joe Pokalsky

Joseph T. Pokalsky
Energy Vertical Analysis, LLC
Office:  404-350-8562
Cell:     404-456-5173
Fax:      413-691-5614