As you know, the SEC is conducting an informal inquiry into related party transactions Enron did with LJM.  We are cooperating fully and are providing the information the SEC has requested.  However, we have learned today that the SEC is extremely sensitive about us using their inquiry as a "shield" to not answer certain questions -- i.e. "I can't answer that because of a pending SEC inquiry."  As a result, we have been advised that we should not make any comment about the SEC inquiry in any context.  This extends beyond media and includes any interactions with customers, regulators, etc.  Please forward this message on to anyone in your group who this might impact.  Call me if you have any questions.

Thank you.
Karen