Farewell

To: All Wholesale / Retail Employees

By now, you are aware that I am leaving Enron to pursue another career opportunity.

I have sincerely enjoyed working with all of you. You are a world class group of people who have a lot to be proud of.

As I have encouraged you before:

look forward
have fun
make the time that you are here an exciting employment experience where you can add value and learn
this environment provides a rich learning experience -- as you are maximizing value, soak it up

I wanted to share with you a quote from the Invensys press release announcing my appointment. Invensys' CEO, Rick Haythornthwaite, said, "In the aftermath of the Enron collapse, we should not lose sight of the fact that the company contained many good people and real businesses." Obviously, your hard work and efforts are recognized.

I wish you the best of business and personal good fortune as you move forward. If I can ever be of any assistance, please let me know.

Regards,

Dan