DynegyDirect

By now, you all should have received passwords for Dynegy Direct.
Originally, you were each granted read-only rights. However, the only way to
print the long product descriptions is if you have Execute Rights.
Accordingly, you have now been given Execute Rights.

After our initial review of all products is completed, each of us will need
to conduct a regular monthly audit to ensure that no new products have been
added and/or to review new products and to review changes to existing
products. I would ask each of you to contact your traders at some point to
let them know that you are the person to be contacted if they notice new
products or changes to existing products that they are interested in on
DynegyDirect. In light of this audit responsibility and to make review of
the products easier, I felt it important that we be able to print out the
descriptions.

Please be careful maintaining the confidentiality of your password as it can
be used to bind Enron to transactions with Dynegy.

If you have any difficulty using the system for the first time (log on to
www.dynegydirect.com -- you will be required to install software to enter the
trading floor), please let me know. If you have any other questions about
Dynegydirect, don't hesitate to give me a call or stop by.

Regards,

Leslie