Enron Mail

From:bob.lee@enron.com
To:michael.anderson@enron.com
Subject:Re: Joint Probabilities
Cc:stinson.gibner@enron.com, vince.kaminski@enron.com, zimin.lu@enron.com
Bcc:stinson.gibner@enron.com, vince.kaminski@enron.com, zimin.lu@enron.com
Date:Tue, 3 Oct 2000 04:44:00 -0700 (PDT)

Michael

The updated probabilities are attached. The probability of reaching any Fx
times RAB multiple are the same as the original analysis. The probabilities
of reaching a given stock price are lower than the original analysis in both
the optimistic and pessimistic cases because the debt levels are higher, and
hence the stock value is lower for any Fx-RAB value.

Bob Lee
x35163