I want to provide you with an update on current events and their potential effects on members of the Program.

As the business units make decisions about the future course of the company, members of the Program will be affected.  Where positions are eliminated, individuals are being given consideration for other opportunities available within Enron.  Any information communicated to you regarding elimination of your position by the business units will have been coordinated with the Program in advance, and will be definitive.

I know how anxious and frustrating these times are for everyone - they are for my team as well.  The most accurate and timely internal source of information will be communication from the Enron Corp Office of the Chairman.

At this point, no one is certain what the future may bring regarding our careers at Enron.  I do know for certain that each of you is here, because you were selected from "the very best of the best".  I appreciate your continuing patience and efforts.

If you have any questions, please contact Ted Bland (35275), Terry Bosien (35230) or me (36671).