Message-ID: <22164025.1075844233078.JavaMail.evans@thyme>
Date: Wed, 11 Apr 2001 09:57:00 -0700 (PDT)
From: mark.palmer@enron.com
To: karen.denne@enron.com, peggy.mahoney@enron.com, vance.meyer@enron.com, 
	mark.koenig@enron.com, paula.rieker@enron.com, steven.kean@enron.com, 
	jeff.dasovich@enron.com, susan.mara@enron.com, 
	paul.kaufman@enron.com, janel.guerrero@enron.com, 
	michael.tribolet@enron.com, david.delainey@enron.com, 
	greg.whalley@enron.com, rex.rogers@enron.com, 
	richard.causey@enron.com, richard.shapiro@enron.com
Subject: Response statements for PG&E exposure
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X-From: Mark Palmer
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The following would be used only in response to media questions regarding 
PG&E credit exposure.

Enron does not comment on specific credit exposures.  We are confident we 
have established adequate reserves related to energy issues in California and 
regardless of what happens there we are also confident we will meet our 2001 
(recurring) earnings per share estimate of $1.70-$1.75.

(If pressed on the accuracy of the amount listed in PG&E's declaration)  
There are lots of numbers being tossed around for all parties that are owed 
money by PG&E.  All of them are subject to to modification as information is 
corrected or updated.  The numbers in PG&E's initial filing were estimates 
based on six month old PG&E data that may have been assembled very quickly.

(If pressed on the amount in the creditor committee letter)  Enron will not 
comment on specific credit exposures.  We will not confirm or deny any such 
numbers rumored to be in confidential correspondence.  Any number presented 
would need to be further examined relative to collateral, reserves and other 
credit offsets available under the circumstances.  Again, we are very 
confident that no event related to this issue will prevent us from meeting 
our 2001 (recurring) earnings per share estimate of $1.70-$1.75.

If we are asked if we filed to be on the creditor committee, I would confirm 
that we did, and we are.

Mark