Message-ID: <30242954.1075855888833.JavaMail.evans@thyme>
Date: Thu, 13 Jul 2000 12:07:00 -0700 (PDT)
From: enron.announcements@enron.com
To: all.employees@enron.com
Subject: Organizational Announcement: Industrial Origination, CTG, and ENA
 Treasury
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Effective immediately, Ray Bowen will take over leadership of the Industria=
l=20
Origination Group responsible for Enron North America=01,s origination=20
activities in the industrial market including pulp & paper, metals, refinin=
g,=20
and petrochemicals.  As part of the Industrial Origination Group, Jim Ajell=
o,=20
will continue to lead the origination effort in the metals, refining, and=
=20
petrochemical sector.  Edward Ondarza maintains oversight of origination in=
=20
the pulp and paper sectors.  Rodney Malcolm retains primary responsibility=
=20
for leading the execution of transactions and delivery of the outsource=20
solutions to industrial customers.

When the Commercial Transactions Group was created approximately a year ago=
,=20
the objective was to create an internal emphasis on the development of=20
transaction execution skills that are necessary to execute complex,=20
structured transactions and to foster better deal quality.  We believe that=
=20
the primary objectives of the CTG have been achieved, and in order to bette=
r=20
position the organization for the remainder of 2000 and in response to Ray=
=20
Bowen=01,s new position, the following changes will be made in the Commerci=
al=20
Transactions Group organization.

Transaction Development:  Transaction Development, which was created to=20
provide focused deal execution capability to the Origination groups, will b=
e=20
merged into each respective origination group and report solely to the grou=
p=20
leaders.=20

Portfolio Management:  All activities surrounding portfolio investments wil=
l=20
report to Jeff Donahue.  Jeff will be responsible for ENA=01,s =01&capital =
book=018=20
and will have a high level of involvement in existing portfolio investments=
=20
and will work closely with ENA Treasury and the various origination groups =
to=20
assure that new transactions (a) incorporate appropriate risk/return=20
characteristics, (b) are evaluated in the context of market based pricing=
=20
signals, and (c) incorporate a specific investment plan which includes=20
syndication of the investment, if applicable, and a specific exit strategy.=
 =20
Portfolio Management includes Restructuring/Special Assets (Randy=20
Maffett/Dick Lydecker) and Capital Structuring (Andrea Reed).  Steve Pruett=
=20
(Energy Capital Resources), Chuck Ward (Generation Investments), Don Miller=
=20
(Merchant Generation), and Chris Helfrich (Coal and Industrial) will contin=
ue=20
to be responsible for day to day asset management for performing investment=
s=20
and will report to their respective origination units with a dual report to=
=20
Jeff.  Jeff will retain his Corporate Development and Principal Investments=
=20
activities.

Commodity Structuring:  Commodity Structuring including Berney Aucoin (Powe=
r)=20
and Ed McMichael (Gas) will report to Janet Dietrich.  Janet will retain=20
responsibility for East Midstream Origination.  Commodity Structuring will=
=20
continue to work to facilitate and structure the highest priority and highe=
st=20
value transactions across the entire ENA organization.

Technical/OEC:  The Technical Group (Wayne Mays/Bob Virgo), which provides=
=20
technical support to industrial and power generation asset development=20
activities, and OEC (lead by Mark Dobler) will report directly to the ENA=
=20
Office of the Chairman.


In addition to these changes, Joe Deffner has been named ENA=01,s Chief=20
Financial Officer and will head ENA Treasury.  In this role he will be=20
responsible for managing ENA=01,s balance sheet and the sourcing of capital=
 in=20
the bank and capital markets.  Joe will report jointly to the ENA Office of=
=20
the Chairman and to Enron Corp. Global Finance.