Price Volatility Graph

Mark,

David Portz, Elizabeth Sager and I were looking at this slide and we're not
so sure it's correct. We think it should reflect two huge power price
spikes, the recent ones of this year, and the big one of last year. We don't
think the attached slide correctly reflects the two price spikes. Can you
take a look at it and get back to me...thanks for your help!
---------------------- Forwarded by Tana Jones/HOU/ECT on 09/14/99 04:49 PM
---------------------------

Enron North America Corp.

From: David Portz 09/14/99 04:34 PM

To: Tana Jones/HOU/ECT@ECT
cc: Elizabeth Sager/HOU/ECT@ECT
Subject: Price Volatility Graph

forwarding graph received earlier this week...
---------------------- Forwarded by David Portz/HOU/ECT on 09/14/99 03:55 PM
---------------------------
From: Sayed Khoja on 09/10/99 01:47 PM
To: David Portz/HOU/ECT@ECT
cc: Mark Frank/HOU/ECT@ECT
Subject: Price Volatility Graph

David,

Attached is the graph I mentioned in my voice mail. Please let me know if
you need anything else.

Sayed