Recently, Jeff McMahon, Executive Vice President and Treasurer of Enron 
Corp., accepted the position of Chief Commercial Officer of Enron Net Works.  
Jeff's many accomplishments at Enron Global Finance ("EGF") include over $30 
billion of closed financings and an upgrade of Enron's credit rating by 
Moody's to Baa1.  We wish Jeff well in his new endeavor.

Ben Glisan, Vice President and head of EGF's Structured Finance business, 
will assume Jeff's responsibilities as Vice President and Treasurer of Enron 
Corp.  Ben joined Enron in 1996 from Arthur Andersen where he was responsible 
for managing structured transactions with Enron.  Prior to Arthur Andersen, 
Ben worked at Coopers & Lybrand providing accounting and finance services 
principally to financial institutions.  Ben will be a member of the Enron 
Corp. Executive Committee.

For additional details regarding EGF's organizational changes, please see the 
attached memo.