Dear friends:

The departure of Jeff, like losing a member of your family, is never a pleasant experience.  He has created immense wealth for the Enron shareholder over his eleven or so years at Enron.  We will all miss him. 

However, this is in our rear view mirror and we need to move forward to reach our goals.  I want to share a number of key points that should be well communicated and understood:
	a) Ken is re-assuming the CEO role one that he has held for nearly fifteen years except for the last six months.  He understands this company.  He built Enron.  He is prepared to lead this company into the future for as long as it takes to reach our goals;
	b) The investment community knows Ken and likes his approach.  This is probably an upside given Jeff's struggles with this group;
	c) The key leaders in the organization across all of Enron, including Greg Whalley, John Lavorato, Mark Frevert, Jim Fallon, Stan Horton amongst many others, are clearly committed to Enron and its goals.  We are all firmly aligned behind Ken;
	d) There is no change to Enron's strategies and business principles going forward;
	e) The committment to the retail business is un-wavering.  Support for EES, within Enron, is at its highest in years;
	f) There is a very deep talent base in Enron and all key origination, trading and finance people are under contract; and
	g) My committment to our employees, Enron and the retail energy business continues without question.

There will be a lot of distractions for the next few days; it is very important that we move on and stay focused.  The retail and wholesale energy business must reach its short and long term goals.  I am confident we will be successful.

I am hoping to set up a number of floor meetings today to further discuss and answer any questions.  

Regards
Dave