Brendan Devlin update

Brendan & I have been in discussion over the last few days, as he was
concerned that his personal circumstances would prevent him from travelling
out of Brussels for the next 6 months or so (except very occasionally), and
about how this would affect his ability to support the Continental Gas
business as he was hired to do. Options included :

(1) Brendan going back to the Commission for a year or two and reapproaching
Enron after that period and
(2) keeping him in Brussels for the interim period and redefining the role
to focus less on gas and to pick up other EC related work on ecommerce,
environment, coal, steel etc.

Where Brendan has been involved so far, he has shown valuable knowledge of
and insight into the Commission's working practices. Following discussion
with Eric, our recommendation is to keep Brendan in a Brussels position in
the interim, rather than risk the possibility that after 1 or 2 years he
never actually appears. He should be available to transfer to London on a
temporary (and perhaps even permanent) basis in early 2002. Under these
circumstances, I believe it would make more sense for Brendan to report to
Peter Styles during this interim period. Peter will open discussion with
Brendan to define what he will be doing. We'll need to consider separately
how to support the Continental Gas activity, given the hole this creates.

DBW