Steve:

Joe called and asked me to summarize for you the meeting between Nick and 
Carla a few weeks ago.

Nick outlined the current state of play in Tokyo.  To summarize what I took 
as his central message -- now is a particularly sensitive time for Enron in 
Japan.  They have a high profile and are establishing good relationships with 
the right government officials and business leaders, both publicly and behind 
the scenes.  They're in the process of bringing on a senior Japanese national 
in the reg/government affairs team, and an experienced PR person as well.  
Both come with their own set of contacts and experience that Nick would like 
to give an opportunity to develop.   With the electricity deregulation still 
shaking out, and Enron Online Japan just being launched days ago, Carla's 
high profile might be valuable at some point and on certain issues -- but now 
may not be that time. 

Carla replied that she understood the need for sensitivity.  She outlined her 
contacts in Japan, which are impressive.  She said she would only go to 
reinforce a message that a client wanted delivered -- to have another party 
support the Enron message to the right people is often valuable, especially 
in Japan.  She said she understood timing, and reiterated that she was happy 
to help when called upon.

No decisions were made on short-term travel by Carla to Japan.