Earlier today, we issued a press release announcing further progress on the transition of Enron's Board of Directors.  At a Board meeting this morning, the board accepted the resignations of the remaining four long-standing directors, Robert A. Belfer, Norman P. Blake, Dr. Wendy L. Gramm and Herbert S. Winokur, Jr.   The Board also elected Raymond S. Troubh as interim chairman of the board and noted that they have identified three independent director candidates, whose election is pending feedback from the creditors' committee.

These resignations complete the transition to a board made up of new and independent directors.  In addition, we now have a process in place to expand the board further.  We look forward to working with the new board throughout our restructuring efforts, and we will keep you posted on the appointment of new directors.  For more information on today's board action, you can read the press release at:  http://www.enron.com/corp/pressroom/releases/2002/ene/26-060602Release.html