Third Party Trading Platform Policy

Andy and Sheri:

Here is a draft of what I propose Mark Frevert and Mark Haedicke send out to
the traders re use of third-party electronic trading platforms. Note that I
included a contact for questions at the bottom of the policy. I have listed
myself for now -- who would you like to designate? Will this e-mail go out
to European and other business units as well, and if so, from the same
senders?

Mark Taylor has approved the e-mail and the policy.

Let me know what you think. I will circulate to Mark Haedicke for approval
as soon as I receive your comments and/or approval.

Leslie

**************************************************************************
Many of you have received offers to use third -party electronic trading
platforms like Dynegydirect. Enron has a Policy Relating to Use of Third
Party Electronic Trading Platforms to serve as a guide to appropriate
registration for and use of such trading platforms. The Policy provides that:

You must notify the Enron Net Works LLC (ENW) designee set out in the Policy
if you would like to trade on such a trading platform.
All registration and other documentation must be sent to the ENW designee,
who will coordinate the necessary legal and administrative review.
You are not authorized to use a third-party electronic trading platform until
you are authorized by ENW.
The Master User for all third-party electronic trading platform accounts will
be an ENW designee.
If you are currently using any third-party electronic trading platform,
please notify the ENW designee.

A full copy of the Policy Statement is attached for your review.