Attached is a summary of the results of our effort to deploy talent within 
Enron.  From today forward, Cindy will manage the effort with the help of her 
Resource Management team headed by Sarah Davis.  Cindy's team is also 
developing a process to manage the movement of talent around Enron on an 
ongoing basis.

As you can see we have accomplished a great deal in a short time, thanks in 
large part to the efforts and cooperation of the business unit organizations 
and the Human Resources organization.  Highlights include:

60 commercial employees who have accepted offers
19 additional commercial employees with offers pending
74 employees who are being redeployed by their global function or corporate 
staff group

A conservative estimate of the direct costs saved by this effort (as compared 
to outside recruiting and relocation) is $75,000/employee (or about $4.5 
million so far).  Far more important than the direct cost savings, though, 
are the productivity gains, the opportunity gains associated with deploying 
resources quickly to critical business areas, and the savings resulting from 
reducing management time spent in recruiting and interviewing.

This effort has focussed on the redeployment of approximately 300 employees 
in three main groups:

Identification of commercial employees across Enron to be contacted and 
redeployed to EBS, EES and ENA.  There are 92 such employees (not counting 
APACHI employees).  These employees were contacted, interviewed and are being 
placed, if they are interested, in one of the three organizations (EBS, EES 
or ENA).

Identification of APACHI employees who are available as a result of the 
region's efforts to refocus its activities on the opportunities in Japan, 
Korea and Australia.  There are 208 employees in this category 62 of whom are 
commercial employees being placed as a result of this effort.

The remaining group of 146 APACHI employees consist of global function, staff 
and support groups which are redeploying them to support constrained areas 
throughout Enron.

Attached is a chart summarizing the progress so far.  Thank you for your 
support and cooperation.