Savett Frutkin Podell & Ryan, P.C. Announces Class Action Lawsuit Against 
Azurix Corp.

10/16/2000
Business Wire
(Copyright (c) 2000, Business Wire)

PHILADELPHIA--(BUSINESS WIRE)--Oct. 16, 2000--Savett Frutkin Podell & Ryan, 
P.C. hereby gives notice that a class action complaint was filed in the 
United States District Court, Southern District of Texas on behalf of a class 
of persons who purchased the common stock of Azurix Corp. (NYSE:AZX) 
("Azurix" or the "Company") at artificially inflated prices during the period 
June 9, 1999 through August 8, 2000 and traceable to Azurix's Initial Public 
Offering ("Class Period") and who were damaged thereby. 
If you are a member of the proposed Class, you should contact this firm at 
the telephone number or address below. If you wish to be appointed lead 
plaintiff in this action you must file a motion with the Court no later 
December 5, 2000. Class members must meet certain legal requirements to serve 
as a lead plaintiff.
If you purchased Azurix common stock during the Class Period or have 
questions or information regarding this action or your rights, you may call 
or write Barbara A. Podell, Adam Savett or Renee C. Nixon, of Savett Frutkin 
Podell & Ryan. P.C. at 800/993-3233 or via e-mail at sfprpc@op.net. 
The complaint charges Azurix and certain of its senior officers and directors 
with violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 
("Securities Act") and Sections 10(b) and 20 of the Securities Exchange Act 
of 1934 ("Exchange Act") and Rule 10b-5 promulgated thereunder. 
The complaint also charges Enron Corp. as a controlling person under Section 
15 of the Securities Act and Section 20(a) of the Exchange Act. The complaint 
alleges that during the Class Period, defendants disseminated to the 
investing public false and misleading financial statements and press releases 
concerning the Company's publicly reported financial condition and future 
prospects. 
The complaint further alleges that defendants issued to the public on or 
about June 9, 1999, in connection with the Company's initial public offering, 
a false and misleading registration statement and prospectus. These documents 
touted the Company's primary business strategy - acquiring, owning, operating 
and managing large privatization water supply and wastewater projects. 
However, through a series of partial disclosures beginning on March 30, 2000 
and ending on August 8, 2000, it was revealed that several large 
privatization projects were already postponed or canceled at or near the time 
of the IPO. As a result of defendants' misrepresentations the price of Azurix 
common stock was artificially inflated throughout the Class Period. 
Plaintiff seeks to recover damages on behalf of all purchasers of Azurix 
common stock during the Class Period. The plaintiff is represented by Savett 
Frutkin Podell & Ryan, P.C. which has extensive experience representing 
shareholders in class actions and has successfully recovered hundreds of 
millions of dollars for defrauded investors and shareholders. 
The reputation and expertise of the firm in shareholder and other class 
action litigation has been repeatedly recognized by the courts, which have 
appointed the firm to major positions in complex class action litigations.


CONTACT: SAVETT FRUTKIN PODELL & RYAN, P.C. Barbara A. Podell Adam T. Savett 
Renee C. Nixon Telephone: 215/923-5400 or 800/993-3233 E-mail: sfprpc@op.net 
12:12 EDT OCTOBER 16, 2000 


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