From: john.lavorato@enron.com

To: punit.rawal@enron.com, bryce.schneider@enron.com, seung-taek.oh@enron.com,willis.philip@enron.com, bilal.bajwa@enron.com, darren.espey@enron.com, biliana.pehlivanova@enron.com, elizabeth.shim@enron.com

Subject:

Cc: c..gossett@enron.com, w..white@enron.com, louise.kitchen@enron.com,k..allen@enron.com, john.arnold@enron.com, c..aucoin@enron.com, corry.bentley@enron.com, kayne.coulter@enron.com, dana.davis@enron.com, chris.gaskill@enron.com, doug.gilbert-smith@en

Bcc: c..gossett@enron.com, w..white@enron.com, louise.kitchen@enron.com,k..allen@enron.com, john.arnold@enron.com, c..aucoin@enron.com, corry.bentley@enron.com, kayne.coulter@enron.com, dana.davis@enron.com, chris.gaskill@enron.com, doug.gilbert-smith@en

Date: Mon, 17 Sep 2001 13:33:36 -0700 (PDT)

Hello

Each of you is going to be able to trade on the training tool that we developed. Please call Jeff Gossett who will coordinate the trading.

Here are the rules:

1. Eol trades only.

2. Financial trades only.

3 Maximum 20 trades per day.

4. 100 K in Var limit.

5. 100K penalty for first day VAR violation. 1 Million for the second consecutive VAR violation.

6. Gas or Power Trades allowed.

7. Your book will be run every day.

8. This game/training cannot affect your dayjob. Don't let it!

Jeff - Start next monday.
- Add this report to my reports and get it on the internet reports.

Thanks

John