Louise,

I talked to Human Resources about providing more specific information for my announcement from John Costas, and they
referred me to you directly. Here are my questions:

1) What are Greg's and your formal titles, in addition to MD? (For example, John Smith, head of XYZ Group. Or are they
CEO, COO, president, or something like that?)
2) What are the other groups reporting into Greg, in addition to Commercial?
3) Do you have a complete management team org chart that we could include in an announcement from Greg (and you?) going
only to UBS Warburg Energy employees? Do you think it appropriate to include this org chart in this announcement? The
plan is to attach Mr. Costas's announcement to Greg's.

Thanks in advance,

Claudia
212-713-8508

-----Original Message-----
From: Louise.Kitchen@enron.com [mailto:Louise.Kitchen@enron.com]
Sent: Wednesday, February 06, 2002 9:17 AM
To: Robinson, Claudia
Cc: David.Forster@enron.com; ODonnell, Pat [UBS]; Dow, Colette [UBS];
Kal.Shah@enron.com; David.Oxley@enron.com; Martin, Audrey [UBS];
Bridges, Mark [UBS]; Walker, David P.; Mitchell, Nikki [UBS]
Subject: RE: Releases


This is just commercial - let me know if you want the rest.


(See attached file: UBS Warburg Energy - Commercial.ppt)
    -----Original Message-----
   From:   "Robinson, Claudia" <claudia.robinson@ubsw.com>@ENRON
   Sent:   Wednesday, February 06, 2002 6:12 AM
   To:     Kitchen, Louise
   Cc:     Forster, David; ODonnell, Pat [UBS]; Dow, Colette [UBS]; Shah,
             Kal; Oxley, David; Martin, Audrey [UBS]; Bridges, Mark [UBS];
             Walker, David P.; Mitchell, Nikki [UBS]
   Subject:  RE: Releases

   Louise,

   Thanks so much for your speedy reply. I will pass your comments on to
   Dave Walker in Media Relations.

   I included Kevin because he is listed with you, Greg and John on a
   "management" slide. If there are others who should be
   included on Greg's core management team for the announcement, please let
   me know who they are and their titles. Please
   also let me know if it is inappropriate to include Kevin. If there is an
   org chart, that might be helpful, too. It would
   allow us to be as inclusive as possible without making the announcement
   too long.

   Thanks again,

   Claudia
   212-713-8508

   -----Original Message-----
   From: Louise.Kitchen@enron.com [mailto:Louise.Kitchen@enron.com]
   Sent: Tuesday, February 05, 2002 11:16 PM
   To: Robinson, Claudia; Petrie, James [UBS]; Eber, Louis [UBS]; Brady,
   Penny [UBS]; Keily, Ruth [UBS]; Mitchell, Nikki [UBS];
   David.Forster@enron.com; Lloyd, Andrew-D [UBS]; Hollis, Amanda [UBS];
   ODonnell, Pat [UBS]; Dow, Colette [UBS]; louise@enron.com;
   Kal.Shah@enron.com; David.Oxley@enron.com; Martin, Audrey [UBS]
   Cc: Bridges, Mark [UBS]
   Subject: RE: Releases


   Just a couple of suggested changes to both.

   There is a lot of confusion in the energy market as to the ownership
   structure of the entity.  Enron had previously announced that the entiy
   would be 51% New Owner and 49% Enron.  We need to ensure this message is
   corrected as clearly as possible - that it is 100% UBS owner.

   (See attached file: UBSW Energy release draft.doc)
   On the release for UBSWenergy.com - we do intend to trade physical gas
   and
   power immediately initially at least in the areas we can, so I have
   removed
   that sentence.
   (See attached file: UBSenergycomreleasedraft.doc)
   Do you need all of the commercial  MD titles or is Kevin picked out for
   a
   particular reason?

   Thanks

   Louise

       -----Original Message-----
      From:   "Robinson, Claudia" <claudia.robinson@ubsw.com>@ENRON
      Sent:   Tuesday, February 05, 2002 7:45 PM
      To:     Petrie, James [UBS]; Eber, Louis [UBS]; Brady, Penny [UBS];
                Keily, Ruth [UBS]; Mitchell, Nikki [UBS]; Forster, David;
                Lloyd, Andrew-D [UBS]; Hollis, Amanda [UBS]; ODonnell, Pat
                [UBS]; Dow, Colette [UBS]; 'louise@enron.com'; Shah, Kal;
                Oxley, David; Martin, Audrey [UBS]
      Cc:     Bridges, Mark [UBS]
      Subject:  FW: Releases

      Attached for your review are drafts of two news releases, one
   announcing
      the closing of the UBS Warburg / Energy
      transaction and the other to announce the launch of UBSWenergy.com.
   The
      plan is to issue the closing announcement on
      Friday (2/8) at about 8 a.m. New York time. The other is planned for
      when the website officially launches, which is
      expected on Monday (2/11).

      Please forward your comments directly to David P. Walker, head of
   Media
      Relations-Americas, sometime on Wednesday.

      Tomorrow, I will send you drafts of the internal announcements for
      Friday and Monday. The plan is to issue on Friday a
      global UBS Warburg email announcement from John Costas, announcing
   the
      new management. I need from Human Resources
      confirmed titles for Louise Kitchen, John Lavorato and Kevin Presto.
   In
      addition, we plan for Friday an email from Greg
      Whalley to employees who have signed on with UBS Warburg Energy, with
      Costas's announcement attached. (Both will also be
      posted on UBS Warburg intranets, including the integration site.)
   There
      will also be internal publicity on the day the
      website launches: another email from Whalley to Energy employees and
      intranet articles within UBS Warburg, including the
      integration site.

      Please let me know if you have questions.

      Thanks,

      Claudia
      212-713-8508


      >   <<UBSenergycomreleasedraft.doc>>  <<UBSW Energy release
   draft.doc>>

       - UBSenergycomreleasedraft.doc << File: UBSenergycomreleasedraft.doc
   >>
       - UBSW Energy release draft.doc << File: UBSW Energy release
   draft.doc
      >>

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