The purpose of this email is to highlight a few points and action items that 
were emphasized during my recent trips to South America, Japan and Korea.  
Overall the trips were definitely worth the effort and each business unit now 
truly gets the ENW story and what we are attempting to accomplish.  The 
efforts over the past 8 months are really beginning to pay dividends.  This 
is not meant to be a complete laundry list of all the important issues and 
discussed topics but rather a briefing of a few top priorities and items for 
each group.

Enron South America
? I met with the entire management team as a group in Rio at an ESA board 
meeting and most of the key individuals separately.
? Sugar, coffee and orange juice were new commodities that were brought up by 
numerous groups as consideration for new ENW efforts due to their desirable 
market characteristics.
? Pulp and Paper additional activity has already begun and is currently being 
worked with Greg Piper.  I believe that this is the best and short-term 
opportunity out there.
? Metals and mining is big in South America.  This was also brought up 
frequently and I told D'Arcy Carroll that we would get back to them upon 
further closure of MG and that this could move quickly up the food chain but 
not to focus as top priority yet.
? D,Arcy (former Cargill trader) has strong connections at Cargill and 
believes that we can go in, compete and capture their markets.  He also has 
several candidates and resumes which have been sent to Robert Jones for 
consideration for trading positions for our new agriculture trading 
activities.  Greg, I will forward to you also, I don't believe I sent them to 
you.
? D,Arcy and Steve Nagy are putting together more of a business plan for the 
rest of 2000 with regard to commercial opportunities.  I have been pleased to 
date with Steve and his initial functions as a &technology origination8 role 
but it is time to put some tangible goals and results on the table.
? Dan Bruce (VP international infrastructure) is going to focus more time on 
ESA.  Philippe and I are in the process of finalizing Regional VPs and 
focusing Dan to this region (this is not finalized yet).  They need serious 
help in their trading systems and more senior support overall.  Will wait 
until decision made on Project California.

Enron Japan
Joe is building an impressive team and he has a thorough and well thought out 
business plan.  Japan has the opportunity to be really big (another Enron 
Europe?) and we have an excellent opportunity to get it right from the start 
and drive this market.  He is in a unique position to develop a huge business 
and drive it with technology without having the burden of a large legacy 
problem.  I think they look more like an Enron Net Works type of business 
than most the other business units.  Enron Japan needs to use the internet to 
educate and drive this new business to achieve the penetration it needs 
without an incumbent position.  The competition and market characteristics 
fit very well with our statements about ENW in our general presentations.  
? Anthony Dayeo has just joined the team.  Between ENW providing a VP of 
Anthony's caliber and our other time commitments, we are really helping this 
business.
? Initial technology focus will be internet and website driven.  Coordinating 
with Steve Kean to take a fresh approach to knocking down regulatory barriers
? John Sherriff is managing this business from a commodity point of view and 
I think our groups working together will make this a high return future 
business
? Human capital is a key constraint issue and we went through priorities and 
prioritized for greater effectiveness.
? The group is thinking about using technology, the internet and eCommerce 
every day. 

Enron Korea/ SK Enron
The activities and business plans were much better than I had expected.  I 
asked them to go through and discuss their eBusiness plan and it was quite 
thorough.
? They have completed initial evaluation of  EOL applications for the region 
(hard copy attached)
? K-Weather is already introducing weather derivatives in Korea (best 
short-term oppt.)
? Definite metals opportunity here (MG office exists); I didn't visit the MG 
office. 
? SK-Enron has several assets that can be leveraged into an internet play 
with very little expense.
? Our technology efforts are paying dividends (Inja Chug ) Sr. Director was 
dedicated here a few months ago).  Her impact is significant and will greatly 
assist in IPO 
? eCommerce (ENW) will be an enormous impact in increasing the value of 
SK-Enron when they IPO next year.  The internet and eCommerce/technology 
changes should be able to significantly increase their multiple and provide 
Enron with a profitable exit option.  First mover advantage here, definitely 
has a winner-take-all oppt.  
? SK-Enron will be the first utility in Korea to offer customers on-line 
billing and payment and other related services (under development and looking 
for package solution). 
? SK currently has 1.8 million customers that are not being tapped at all.  
Interesting oppt. with alliance partners (AOL).  
? The SK-Enron changes and opportunities that are underway are a great 
example of Enron,s (ENW) ability to change from an old to new economy 
business.  A second round eBusiness plan is coming and we can evaluate as a 
group
? Excellent executive meeting and dinner with Tony Chey (Owner and Chairman 
of SK - SK is a $20 billion company and Tony is the 4th richest and most 
powerful person in Korea)  I went through EnronOnline and our thoughts on the 
future of the internet.  This was very helpful with future events with SK.

We are definitely setting up a network of eBusiness opportunities within 
Enron.

Jeff, the commercial opportunities and accountabilities that have begun via 
the creation of the technology origination activities is really just 
beginning to gain momentum.  I am currently driving them via my direct 
involvement via videoconferences.  Allan Summor and I are in the process of 
solidifying a process for driving, evaluating and monitoring all of the other 
business units more commercial technology activities.  When we get this to 
the next step lets discuss and we can get both of us on the same page as to 
the best way to coordinate all these efforts. 

Please don't hestitate to call me if you want to discuss anything in more 
detail.