Risk Management Policy

From: veronica.valdez@enron.com

To: mike.jordan@enron.com, james.new@enron.com, andrew.cornfield@enron.com,mike.wellings@enron.com, coralie.evans@enron.com, paul.d'arcy@enron.com, david.wall@enron.com, louis.colarusso@enron.com, heidi.mason@enron.com, jan-erland.bekeng@enron.com, bren

Subject: Risk Management Policy

Cc: ted.murphy@enron.com

Bcc: ted.murphy@enron.com

Date: Tue, 24 Oct 2000 02:39:00 -0700 (PDT)

Per Ted's request, I am forwarding you a copy of the most recent Board
Approved Risk Management Policy.

Thanks,

Veronica