RE: May Originations

Stacey:

Starting from May 2001, per Chris Foster and Tim Belden's agreement, Chris
Foster is calculating the origination based on the entire book P&L for the
month, therefore basically for every deal in certain books.

For example, he got the origination for May by the formula below:
Mid-Market Origination for May = agreed percentage * (YTD P&L as of May 31,
2001 - YTD P&L as of April 30, 2001)

The agreed percentage varies for each book, and for the questioned books they
are as below:
LT-NW 12%
LT-CA 8%
LT-WMGMT 12%

Please advise how we should proceed to respond to AA.

Thanks,
Fran
503.464.7973
-----Original Message-----
From: White, Stacey
Sent: Monday, June 18, 2001 3:45 PM
To: Postlethwaite, John; Chang, Fang; Law, Samantha; Dunton, Heather
Subject: May Originations

Arthur Andersen needs detail of the following originated amounts. Please
forward them the information they need, but make sure you only send what they
ask for. Also, please cc: me on the response to AA.

Stacey
---------------------- Forwarded by Stacey W White/HOU/ECT on 06/18/2001
05:44 PM ---------------------------

jennifer.h.staton@us.andersen.com on 06/18/2001 05:15:27 PM
To: stacey.w.white@enron.com
cc: jennifer.l.muse@us.andersen.com

Subject: May Originations

Stacey,

In reviewing the originations detail, we noted the following origination
values related to "multiple deals":

Originated- 5/31/01, EGS Origination- Power Middle Market-West, LTNW,
Origination Value- $1,115,430, Originator- Chris Foster
Originated- 5/31/01, EGS Origination- Power Middle Market- West, LTCA,
Origination Value- $4,300,600, Originator- Chris Foster
Originated- 5/31/01, EGS Origination- Power Middle Market- West,
LTWMgmt, Origination Value- $4,386,660, Originator- Chris Foster

Please provide clarification of which deals the origination value pertains
to so that we may obtain documentation from Kim Theriot. Thank you for
your help. If you have any questions, please call me at X6-6269.

Jennifer

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