BACKGROUND PIECE - WHAT IS HAPPENING IN CALIFORNIA (and why)?

Margaret Carson has put together a great piece (including slides) that needs
to be finalized so that we can get it put together to explain California.

I have checked the material. It looks fine. My next thought is to ask
someone from PR to work it up from a graphics/layout perspective.

Also, the California team should have final sign-off.

I will ask Marcia Linton to fax (or send by e-mail) it out to everyone on
this list and get our next steps.

Jim

P.S. If people are not aware, Margaret Carson is retiring from Enron. Her
last full day to help with all of this is Friday, April 12.