Please join me in congratulating Paul Quilkey in his new role as Vice 
President leading our efforts in Australia.  Joe Hirl has assumed a leading 
role in the formation of our business in Japan.  Joe also has regional 
responsibility for trading activity.

Paul's appointment is in recognition of the critical role Paul has played in 
Enron Australia's successful commencement and the body of outstanding work he 
has accumulated to date in his career with Enron. It is worth noting that 
Paul joined Enron as recently as the Associate intake of 1995.  In the short 
time since then Paul has developed and grown through various positions to his 
current Trading and Origination role, a position of great responsibility in a 
dynamic young business making aggressive inroads into the Australian market, 
and far from Enron's traditional US markets. 

Please join me in congratulating Paul on his appointment. 

Rebecca