---------------------- Forwarded by Greg Whalley/HOU/ECT on 06/07/2001 12:32 
PM ---------------------------
From: Kevin Garland/ENRON@enronXgate on 06/07/2001 12:30 PM
To: Greg Whalley/HOU/ECT@ECT, Ken Rice/Enron Communications@Enron 
Communications, David W Delainey/HOU/EES@EES
cc:  
Subject: FW: Draft of Organizational Announcement

Attached is a draft of the organizational announcement.  Please provide 
comments.

KG

Subject: Draft of Organizational Announcement

Announcing the Formation of One Corporate Equity Investing Unit

To better develop and manage equity investment opportunities related to our 
core businesses, Enron has formed one corporate equity investment unit.  This 
new unit, Enron Principal Investments, will combine the existing investment 
units of ENA, EBS and Enron Investment Partners.  Additionally, the Enron 
Special Asset Group will also become part of Enron Principal Investments.  
The strategy of Enron Principal Investments will be to work with the all the 
business units of Enron to identify, execute, and manage equity investments, 
which leverage the Enron's unique and proprietary knowledge.   These 
investments may be in the form of venture capital, LBO's, traditional private 
equity and distressed debt positions.   

Kevin Garland will serve as Managing Director, overseeing all activities of 
Enron Principal Investments.  Gene Humphrey, Michael Miller, Dick Lydecker, 
and their groups, will join Kevin and his group to form this new investments 
unit.

This new group will report to an investment committee consisting of Greg 
Whalley, Ken Rice, and Dave Delainey.  Please join me in congratulating and 
supporting Kevin, Gene, Michael, Dick and the other members of this group in 
this effort.

Jeff Skilling