Michael Moran, currently Managing Director and General Counsel for ETS, has decided to retire after a distinguished 27-year career with Enron.   Mike has been a conscience and a statesman of our organization and it is hard for me to imagine the ETS organization without Mike.  
 
Fortunately, Drew Fossum, currently Vice President and General Counsel for Northern Natural Gas and Transwestern, has accepted my offer to become Vice President and General Counsel of ETS effective April 1, 2001.  Drew will relocate to Houston and report to me in his new role.
 
To assist with transition issues and special projects, Mike has agreed to stay on board for several months as Managing Director and Special Counsel to the Chairman and will continue to report to me.   
 
Please join me in congratulating Drew on his new assignment and thanking Mike for his many contributions to ETS and Enron.