Philippe Bibi

We are disappointed to announce that Philippe Bibi, president and CEO of=20
Enron Net Works, has resigned from Enron. Philippe will be joining Putnam=
=20
Investments in Boston, Mass. as Chief Technology Officer.

Philippe joined Enron in 1995, as Chief Information Officer for Enron Capit=
al=20
& Trading, and has been a key member of the team that built Enron=01,s IT=
=20
organization, including our numerous successful e-commerce initiatives. =20
Philippe has been a great asset to Enron and our IT efforts.

For six years, his creativity, intelligence, and focus have benefited the=
=20
company in many ways. He will be missed.

Philippe has agreed to make himself available to assist in the transition o=
f=20
his responsibilities. In the interim, all of the employees who report to=
=20
Philippe will continue reporting to the Office of the Chairman for Enron Ne=
t=20
Works.=20

Please join us in thanking Philippe for his many years of service to the=
=20
company and in wishing him the very best.