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Date: Tue, 13 Feb 2001 06:48:00 -0800 (PST)
From: steven.kean@enron.com
To: maureen.mcvicker@enron.com
Subject: Conf Call with CalPERS
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meeitng file
----- Forwarded by Steven J Kean/NA/Enron on 02/13/2001 02:47 PM -----

	Jana Mills@ECT
	02/13/2001 10:41 AM
		 
		 To: William S Bradford/HOU/ECT@ECT, Steven J Kean/NA/Enron@Enron, Marty 
Sunde/HOU/EES@EES, Richard Shapiro/NA/Enron@Enron, David W 
Delainey/HOU/ECT@ECT
		 cc: Maureen McVicker/NA/Enron@Enron, Rick Buy/HOU/ECT@ECT, Karen K 
Heathman/HOU/ECT@ECT, Dan Leff/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Andrew 
S Fastow/Enron@EnronXGate, Bridget Maronge/Enron@EnronXGate, Ben 
Glisan/HOU/ECT@ECT, Inez Dauterive/HOU/ECT@ECT, Tim DeSpain/HOU/ECT@ECT, 
Marion Sczykutowicz/HOU/ECT@ECT, Mercy Gil/NA/Enron@Enron, Carol 
Moffett/HOU/EES@EES, Ginger Dernehl/NA/Enron@Enron
		 Subject: Conf Call with CalPERS

FROM SHIRLEY HUDLER:

Dave, Marty, Richard, Steve and Bill:

Thank you for taking the time this Thursday the 15th to spend time discussing 
the California situation with CalPERS.   The call is scheduled for 11:30 CST 
and will last at least an hour, possibly more.  

By way of background, ENE and CalPERS are 50/50 partners in JEDI II - which 
was created in December 1997.  JEDI II is a funding vehicle for Enron's 
energy related merchant investments.  Transactions of note are:  3.9% 
minority equity interest in EES, equity ownership in Quanta, 100% ownership 
of East Coast Power (since sold down to 51%), and participation in a number 
of E&P drilling partnerships and coal investments.  The commitment period was 
set to expire on December 31, 2000 - and was extended to March 31, 2001.   In 
addition, CalPERS invested $40 Million in The New Power Co prior to the 
IPO.   Andy and I are working with CalPERS to amend the current JEDI II 
partnership in order that we continue our successful relationship with 
CalPERS.  The Alternative Investment Management (AIM) staff that we work with 
are very supportive of Enron and we are looking at a number of opportunities 
to put their money to work in our businesses.  

CalPERS hasn't provided any specific questions that they want answered.  My 
thoughts on how to structure the call is for Marty to spend some time talking 
about California, Enron's role there and our view of the situation.  Then, 
Richard could address the regulatory status in California.  I would expect 
this to be somewhat of a freeform conference call.  One area we may discuss 
is how Enron and CalPERS can team up on a California initiative.  The AIM 
staff is interested in discussing this particular point.  

The following individuals from CalPERS senior staff will be on the call:

 Dan Szente, Chief Investment Officer
 Robert Aguallo, Chief Operating Officer

 Barry Gonder, Senior Investment Officer, AIM
 Rick Hayes, Senior Principal Investment Officer, AIM (primary Enron contact)

 Mark Anson, Senior Investment Officer, Public Equities
 Mary Cottrill, Senior Principal Investment Officer, Public Equities

 Lou Jug, Senior Principal Investment Officer, Real Estate

 Curtis Ishi, Senior Investment Officer, Fixed Income


Please give me a call if you have any questions.  For those of you here in 
the office,  we will be meeting in 
Marty Sunde's office (EB 889)

Dial:     1-888-380-9636
Host code:  721367 (Shirley only)
Participant code: 699749


Shirley Hudler
Sr. Director
Enron Global Finance
713-853-4859