Re: Corporate Allocations April 2001

I think part of the issue is how the allocations are classified within the
Europe analysis spreadsheet. Asset Ops EHS and Reg Tech Analysis are
classified as Asset Management, which doesn't seem to be an issue. However,
Chief Environmental Officer is classified by Europe as Public Relations, and
Environment and Environmental Policy and Compliance are classified as Gov't
Affairs. We need to address whether these need to be consolidated as a
separate category of EHS to include all of these cost center allocations.

This is the first time I've seen this spreadsheet, but I'm happy to work with
Stephen to work out how to better reflect the categorization - this year if
possible, and definately for next year. This may be more at a policy level,
however, so we may need further involvement of the budget owners.
----- Forwarded by Elizabeth Linnell/NA/Enron on 05/18/2001 08:52 AM -----

Steven J Kean
05/17/2001 11:31 AM

To: Elizabeth Linnell/NA/Enron@Enron
cc: Richard Shapiro/NA/Enron@Enron
Subject: Re: Corporate Allocations April 2001

Is this a 2001 question? If so it seems to me we shouldn't bother with it.
If this is a 2002 question, then let;s discuss
---------------------- Forwarded by Steven J Kean/NA/Enron on 05/17/2001
11:30 AM ---------------------------

Richard Shapiro
05/16/2001 07:19 PM
To: Steven J Kean/NA/Enron@Enron
cc:

Subject: Re: Corporate Allocations April 2001

Can you help me on this one?
---------------------- Forwarded by Richard Shapiro/NA/Enron on 05/16/2001
07:18 PM ---------------------------

Peter Styles@ECT
05/16/2001 02:07 PM
To: Greg McMahon/LON/ECT, Stephen Wood/ENRON@EUEnronXGate @ ENRON
cc: Paul Dawson/Govt. Affairs/LON/ECT@ECT, Paul Hennemeyer/LON/ECT@ECT, Doug
Wood/LON/ECT@ECT, Richard Shapiro/NA/Enron@Enron

Subject: Re: Corporate Allocations April 2001

I frankly don't see Enron Europe getting $12,000 per month value from
"Environment" nor "Environmental policy and compliance". I have raised with
the Washington office why someone there is apparently following European
environmental legislation and policy, when such things can only directly
affect Enron Europe's business. I see that PR get hit with more than twice
this amount to pay for our "Chief Environmental Officer". By copy I'm asking
RIck Shapiro's view; we could obviously take the question up direct with
Steve Kean.

Doug may wish to comment on the international project finance allocation,
also from Washington.

We need to schedule a review with you of the May indicative expenditure
report. Would late pm on 29th be convenient?

From: Stephen Wood/ENRON@EUEnronXGate on 05/16/2001 06:07 PM GDT
To: Fernley Dyson/LON/ECT@ECT, Melissa Allen/LON/ECT@ECT, Mark
Pickering/Enron@EUEnronXgate, Anne Edgley/LON/ECT@ECT, Jackie
Gentle/LON/ECT@ECT, Ted Murphy ii/Enron@EUEnronXGate, Adam
Overfield/Enron@EUEnronXGate, Rod Sayers/LON/ECT@ECT, Mark
Evans/Legal/LON/ECT@ECT, Doug Wood/LON/ECT@ECT, Paul Hennemeyer/LON/ECT@ECT,
Paul Dawson/Govt. Affairs/LON/ECT@ECT, Peter Styles/LON/ECT@ECT, Drew
Lynch/Enron@EUEnronXGate
cc: Michael R Brown/LON/ECT@ECT, Suzanne Lane/Enron@EUEnronXGate, Greg
McMahon/Enron@EUEnronXGate, Damien Campbell/ENRON@EUEnronXGate, Ben
Williams/ENRON@EUEnronXGate, Nicola Luxford/EU/Enron@Enron

Subject: Corporate Allocations April 2001

All, please review the below Corporate allocations for April. Total
allocations for the month are below plan by $1.1m. Congratulations to HR who
managed to get a net credit from Corp of $165k. If you have any questions
please get back to your management accountant or myself.

regards,
Stephen x34738