Subject: Net Works PPM Issues
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Thu, 27 Jul 2000 05:36:00 -0700 (PDT)

Louise - These are excerpts from the most recent version of the PPM I thought 
you might want to see.  The document itself is attached.  It strikes me that 
there are some remaining inaccuracies here but I don't know how strongly you 
feel about them.

PPM Page 12
The unique technology behind EnronOnline is primarily based on the 
proprietary price manager software that Enron has developed to allow 
real-time price updates to be displayed.  The price manager is a system that 
allows traders to manipulate the prices displayed based on activity on the 
site and in the marketplace.  The system can be set up to increase or 
decrease posted bid/offers by a certain dollar amount in response to market 
movement or to a sale or purchase of a specific product.  The system also has 
capability to link several products and adjust prices with the movement of 
any other product.  Traders continually monitor these movements and can 
override or change a price at any time and the site will be automatically 
updated, thereby providing a liquid market at all times for the customers.  
Finally, the system is also capable of customizing some trades by combining 
the appropriate underlying transactions.

PPM Page 22
Louise Kitchen
Managing Director - EnronOnline
ENW
Louise Kitchen is President and COO of EnronOnline and has managed the 
business since the initiation of the project in November 1999.  Louise was 
responsible for the development and launch of EnronOnline and remains 
responsible for the ongoing operation of the business.  Louise ran Enron,s 
retail operation in the U.K. from 1997 to 1999, where she introduced 
electricity sales as an incremental offering to natural gas, which led to a 
ten-fold increase in the customer base.  She joined Enron in the spring of 
1994, with responsibility for building a gas trading business for Enron in 
Europe.  Prior to joining Enron, Louise was employed by PowerGen, where she 
worked in electricity trading before taking responsibility for PowerGen,s gas 
trading activities.  Louise received her Bachelor of Arts in Economics and 
French at Kingston University. 

PPM Page 25

The EnronOnline system is capable of handling over 3,000 price changes each 
minute, which is necessary to keep up with a volatile marketplace and to keep 
the best price available at all times.  Also built into this system are 
checks and balances from risk control policies that monitor all positions and 
manage risk.  

[and very similar to the excerpt from page 12 above]
The unique technology behind EnronOnline is primarily based on the 
proprietary price manager software that Enron has developed to allow 
real-time price updates to be displayed.  The price manager is a system that 
allows traders to manipulate the prices displayed based on activity on the 
site and in the marketplace.  The system can be set up to increase or 
decrease posted bid/offers by a certain dollar amount in response to market 
movement or to a sale or purchase of a specific product.  The system also has 
capability to link several products and adjust prices with the movement of 
any other product.  Traders continually monitor these movements and can 
override or change a price at any time.  The site is automatically updated, 
thereby providing a liquid market at all times for the customers.  Finally, 
the system is also capable of customizing some trades by combining the 
appropriate underlying transactions to satisfy the request of the purchaser.