I assume you already know this......

Savett Frutkin Podell & Ryan, P.C. Announces Class Action Lawsuit Against 
Azurix Corp.

MONDAY, OCTOBER 30, 2000 5:27:00 PM EST 
PHILADELPHIA, Oct 26, 2000 AZX ("Azurix" or the "Company") at artificially 
inflated prices during the period June 9, 1999 through August 8, 2000 and 
traceable to Azurix's Initial Public Offering ("Class Period") and who were 
damaged thereby.

If you are a member of the proposed Class, you should contact this firm at 
the telephone number or address below. If you wish to be appointed lead 
plaintiff in this action you must file a motion with the Court no later 
December 12, 2000. Class members must meet certain legal requirements to 
serve as a lead plaintiff. If you purchased Azurix common stock during the 
Class Period or have questions or information regarding this action or your 
rights, you may call or write Barbara A. Podell, Adam Savett or Renee C. 
Nixon, of Savett Frutkin Podell & Ryan. P.C. at 800/993-3233 or via e-mail at 
sfprpc@op.net.

The complaint charges Azurix and certain of its senior officers and directors 
with violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 
("Securities Act") and Sections 10(b) and 20 of the Securities Exchange Act 
of 1934 ("Exchange Act") and Rule 10b-5 promulgated thereunder. The complaint 
also charges Enron Corp. as a controlling person under Section 15 of the 
Securities Act and Section 20(a) of the Exchange Act. The complaint alleges 
that during the Class Period, defendants disseminated to the investing public 
false and misleading financial statements and press releases concerning the 
Company's publicly reported financial condition and future prospects. The 
complaint further alleges that defendants issued to the public on or about 
June 9, 1999, in connection with the Company's initial public offering, a 
false and misleading registration statement and prospectus. These documents 
touted the Company's primary business strategy - acquiring, owning, operating 
and managing large privatization w
ater supply and wastewater projects. However, through a series of partial 
disclosures beginning on March 30, 2000 and ending on August 8, 2000, it was 
revealed that several large privatization projects were already postponed or 
canceled at or near the time of the IPO. As a result of defendants' 
misrepresentations the price of Azurix common stock was artificially inflated 
throughout the Class Period.

Plaintiff seeks to recover damages on behalf of all purchasers of Azurix 
common stock during the Class Period. The plaintiff is represented by Savett 
Frutkin Podell & Ryan, P.C. which has extensive experience representing 
shareholders in class actions and has successfully recovered hundreds of 
millions of dollars for defrauded investors and shareholders. The reputation 
and expertise of the firm in shareholder and other class action litigation 
has been repeatedly recognized by the courts, which have appointed the firm 
to major positions in complex class action litigations.

CONTACT:           SAVETT FRUTKIN PODELL & RYAN, P.C.
                   Barbara A. Podell
                   Adam T. Savett
                   Renee C. Nixon
                   Telephone: 215/923-5400 or 800/993-3233
                   E-mail: sfprpc@op.net
                   TICKERS: NYSE:AZX

URL:               http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.

Copyright (C) 2000 Business Wire. All rights reserved.