Rick:  In addition to our normal activities related to board reporting, PortRAC maintenance, compliance and SWAT work, we have the following major project initiatives underway:

DASH SPENDING CONTROLS - We are leading the team to develop an "AFE-type" cost accumulation system so that every project in Enron will have accurate and timely cost expenditure numbers to ensure that appropriate DASH's and approval levels have been obtained.

BANKRUPTCY REPORTING DATA - We have taken responsibility for developing the reporting function for the new bankruptcy group.  We are working with Michael T. and Credit to develop what data we need, where in the organization we get it and what kind of reports we generate with it.

POST TRANSACTION REVIEWS -  We will provide the primary resources to perform these Board mandated reviews.  Paper mills, Garden State and Daishowa will be reviewed this quarter in conjuction with Underwriting.

EES - We are working with Credit to monitor the EES project list as well as assisting them in some counterparty and credit scoring work related to EES's mass marketing effort.

PortRAC ENHANCEMENTS - We have completed the executive demos with very positive comments about the functionality of the system.  Some of them (including Louise Kitchen) commented that they missed their hard copy snapshots so we are enhancing PortRAC to make it easier to print an entire snapshot book for a business unit with the "push of a button".

If you have any other "big" projects that you want us to tackle, please let me know.   Thanks,     Rick C.