All-Employee Meeting Notice

Please join us at an All-Employee Meeting at 10 a.m. (Houston time)
Wednesday, Feb. 21. The meeting will be held in Houston's Hyatt Regency
Imperial Ballroom. We will review Enron's year-end financial and operating
results and discuss our outlook for the future.

The meeting will be streamed live on IP-TV to employees in Houston, Omaha,
Portland (ENA), New York, Calgary, London, Stockholm, Frankfurt, Amsterdam,
Madrid, Toronto, Dublin, Ohio, and San Ramon and Costa Mesa in Calif. In
addition, we will broadcast the meeting via video teleconference to employees
in Portland (EBS), Chicago, Tehachapi, Calif., Sao Paulo, Rio de Janeiro,
Buenos Aires and San Juan. Detailed instructions for viewing the meeting on
the IP-TV web site will follow.

Employees based in Europe, Japan and Australia: You will receive an
additional communication about the meeting with more details on how to access
the meeting and/or receive a videotape of the meeting if you are located in a
remote office with limited access to IP-TV.

All other employees: If you don't have access to IP-TV or, if you do, are
unable to attend or view the meeting, you can order a video by contacting
Courtney Votaw by e-mail or phone (713-853-9390).

As always, we welcome your questions. Submit them to Erin Rice by e-mail,
fax (713-853-6790) or interoffice mail (EB4703C). The deadline for advance
questions is Thursday, Feb. 15.

Mark your calendar. See you there.