BUSINESS HIGHLIGHTS

Oil Products
The Oil Products Group executed a 1 year physical transaction, whereby Enron 
supplies Delta Airlines 100,000 barrels/month for one year beginning in  
November of 2000, for a total of 1.2 million barrels.

Weather
On December 6 at 7pm, the Weather Channel will run a 15 minute special 
interest story on Weather Derivative trading.  Approximately 8 minutes of 
this telecast will focus on the Enron Weather Risk Management group, led by 
Mark Tawney, director. In September, a film crew spent two days recording the 
group's activities and interviewing Mark Tawney; Steven Vu, head of trading; 
Gary Taylor, head of marketing; and Brando Hayden, trader.  Efforts to 
publicize Enron's leading position in the Weather Risk marketplace have 
included this television show, the Enron Corp commercial focused on weather 
risk management, and several articles written by members of the Enron Weather 
Trading group.  What's next?  Enron Weather: the Movie - coming soon to 
theatres near you!

Principal Investments
Tridium Inc., the leading provider of Internet-based automation 
infrastructure solutions, announced the closing of a $20 million round of 
capital funding. The funds will be used to increase Tridium,s sales and 
technical support offices in North America, expand its operations into Europe 
and Asia, and enhance its technology and products. kRoad Ventures, L.P. and 
Enron North America each contributed $10 million in venture capital.

Energy Capital Resources
Westwin Energy, LLC, a privately held oil and gas exploration and production 
company based in Midland, has been formed by the former management team of 
ARCO Permian.  Along with the company,s formation, Westwin announced its 
financial partner, which is Enron North America.  Westwin Energy will focus 
on drilling opportunities and select acquisitions in the Permian Basin of 
West Texas and Southeast New Mexico.

Enron Industrial Markets Fundamentals Analysis
Following the example of other Enron entities, Enron Industrial Markets has 
established a Fundamentals Analysis Group.  Under the direction of Andrea 
Reed, the group is similar to the others, with the objective of providing 
market, industry, and regulatory information and identifying potential 
commercial opportunities for originators and traders.  Doug Moreno and Carol 
Marshall are the information experts.   They are presently working to 
aggregate all of Enron,s various resources into a library and a website 
(coming soon at http://eimfundy.dev.corp.enron.com/).  Jennifer Riley is the 
quantitative analyst, and has already analyzed a number of statistical 
relationships for the business entities to identify possible hedging 
strategies.  Peggy Determeyer (steel) and Karen Carter (paper/pulp and 
lumber) will be providing analytical services to the two primary product 
lines. Tammy Davis keeps them all organized with terrific administrative 
support.  Doug, Jennifer, Tammy, and Carol have followed Andrea from her 
previous Merchant Asset Portfolio Management assignment, while Peggy and 
Karen have joined from Enron South America and Enron North America, 
respectively.  If you have any ideas for critical analyses or information 
needs, contact one of them for help. 

Foreign Exchange (FX) and Sovereign Risk (ENA Research Group) 
In last week,s Ameriflash newsletter, we introduced you to the Country Risk 
and Foreign Exchange (FX) Department within the ENA Research Group, which 
included our responsibilities and some of the products we have developed for 
Enron various business units. This week we would like to introduce you to the 
members of our group, Maureen Raymond-Castaeda, Gwyn Koepke, Yana Kristal, 
and Leann Walton.

Maureen Raymond-Castaeda heads the Country Risk and Foreign Exchange team, 
reporting to Vince Kaminski.  Maureen is Enron,s Chief Economist and is 
responsible for corporate sovereign risk and economic analysis, briefing the 
FX trading desk on major central bank policies, forecasting all FX and 
revenue escalators corporate-wide for 60 countries, and advising Enron,s 
underwriters and the Chief Credit Officer.  As Enron changes its business 
objectives, our group serves these objectives through our analysis. For 
example, we provide research and analysis services to the steel fundamental 
analysis group as well as to the non-ferrous metals group in London.  Gwyn 
Koepke is an Associate and is responsible for conducting economic analysis 
for all FX and inflation curves produced by the group as well as writing 
country briefs for the various Enron business units.  Yana Kristal is an 
analyst who gathers country research and prepares Excel charts.  Leann Walton 
is the team,s newest member and provides all administrative and research 
support. 

As a reminder, the Country Risk and FX team launched a new product in October 
called the Enron &Global Markets Monitor,8 which informs traders and 
management about important international economic events and their impact on 
currency and financial markets. If you would like to receive the Monitor on a 
weekly basis via email, please send a note to Leann Walton.  Or, you can 
obtain the Global Markets Monitor from our web site at:
http://ecthouwebcl1.nt.ect.enron.com/research/ForeignExchange/FXMain.htm
(look for the spinning New sign) ) Please add this to your bookmarks or 
favorites.

FINAL RESULTS FOR THE PULSE

Thanks to all who participated in Enron's annual employee survey.  The total 
participation rate for ENA/EGM/EIM was 68.90%, which was an increase of 
almost 20% from last year.  Additionally, we beat the Enron Corp. average 
68.90% to 68.87%.  Some might say that this is statistically insignificant, 
but we prefer to point out that a win is a win!

WELCOME

New Hires
ENA- Doglas Allen, Brooks Barnes, Angela Cadena, Reno Casimir, Amelia 
Cavazos, Jane Coleman, Andrea Dahlke, Susan Entman, Kulvinder Fowler, Kristi 
Fredericks, Tammy Gilmore, Lori Haney, Brandee Jackson, Janine Kattner, 
Brenna Neves, Vivian Nguyen, Dexter Peoples, Erica Rodriguez, Patricia Roome, 
Dayna Smith, Stephanie Wainwright, Ellen Wallumrod, Deanna Washington, 
Gregory Whitman

EGM- Mario De la Ossa, Stephanie Harris

IN THE NEWS

FORTUNE, November 13, 2000, Page 80
Beware: You Could Soon Be Selling Soybeans Make your products stand out ) 
fast ) before someone turns it into a commodity.
"(What,s next? Fortune says you can run a reverse auction anytime you can do 
two things: specify exactly what you want and identify several bidders you 
deem qualified to fight for the business. Let your imagination roam. At Enron 
they never stop thinking about new products and services for which they can 
make markets. First gas and electricity, now bandwidth, ocean shipping, 
paper, and much else."

Internet Week, October 30, 2000
"Enron doesn't just make markets; it assaults them."

NUGGETS & NOTES

&Results not reasons8 ) Craig Breslau, VP/Industrial Middle Markets-ENA

"Okay, here's the deal..."  - Jean Mrha Beach, VP/Upstream Origination-ENA

LAST WEEK'S TEASER

Question
In your cellar there are three light switches in the OFF position. Each 
switch controls 1 of 3 light bulbs on the floor above.  You may move any of 
the switches but you may only go upstairs to inspect the bulbs one time.  How 
can you determine the switch for each bulb with one inspection?

Answer
Turn switch one on for a while(then turn it off.  Turn switch two on, go 
upstairs to inspect.  The hot bulb is controlled by switch one, the lit bulb 
is controlled by switch two. The unlit bulb is controlled by switch three.

CONGRATULATIONS to our winners: Richard McKeel, Jim Sugrue, Ed Hearn, Rhonda 
Denton, Mark Breese, Benjamin Thomason, Gil Muhl, Corey Hollander, James 
Haden, Stinson Gibner, Richard Zamora, Robert Stalford, John Gordon, Dan 
Darland, Andre Templeman, Hector McLoughlin, Shelly Stubbs, Kelly Ellis, 
Valter Stoiani, Dennis Lee, Paul Gregory, Rainer Cockrell, Regan Rorschach, 
Bill Rust, Gerald Gilbert.

LEGAL STUFF

The information contained in this newsletter is confidential and proprietary 
to Enron Corp. and its subsidiaries.  It is intended for internal use only 
and should not be disclosed outside of Enron.