Message-ID: <3567187.1075851829645.JavaMail.evans@thyme>
Date: Wed, 10 Jan 2001 00:29:00 -0800 (PST)
From: don.baughman@enron.com
To: rudy.acevedo@enron.com, john.kinser@enron.com, larry.jester@enron.com, 
	richard.hrabal@enron.com, joe.stepenovitch@enron.com, 
	chad.starnes@enron.com, kayne.coulter@enron.com, 
	larry.campbell@enron.com, juan.hernandez@enron.com, 
	miguel.garcia@enron.com
Subject: ENE Options
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Several of us are attempting to determine the number of options we will 
receive.  

The following is an excerpt from an E-speak discussion with Cindy Olson 
regarding the new Enron Option Plan effective Dec. 29, 2000.


The number of options will be based upon a Black-Scholes value. 

Black-Scholes is based upon a number of factors, including the stock price, 
the risk-free rate of return, the term of the stock options, 
and the general movement of Enron common stock as compared to the general 
stock market. 
The Black-Scholes value for Enron stock options is determined monthly. 

As of October 1, 2000, the Black-Scholes value for Enron stock options was 
$31, for seven-year options.

To estimate the number of options you might receive, divide 25 percent of 
your annual base salary by the Black-Scholes 
value for Enron stock.


Therefore we must find out the year end or Dec. Black-Scholes value for ENE.  
See if you can find it on the internet.