Gentlemen,
Attached is a general PPT document detailing the overall strategy for 
attacking verticals.
The second document is a broad perspective piece on a specific vertical which 
is a 
good representation for the type of work we are looking at doing going 
forward.

Note:  In the second document, the risk-sharing SPV is illustrative only and 
does not 
likely represent what we will do on a broader basis.

Feel free to call me with any questions.  Again, all of this is work in 
process.   I will circulate 
any and all items that will help with your understanding of our endeavors so 
that our group
best works together.

Regards,
Darren Maloney & Ted Noble
Associates, Enron Net Works
x36661                        x35951