RESPECTINTEGRITYCOMMUNICATIONEXCELLENCE

It’s Different HereIt’s Different Here

• We ask “Why?”

• We move fast. We provoke change.

• We are a New Economy company.

• Enron offers the innovation of a dot-com;

We have the stability of the FORTUNE 500;

We have the market acumen and transaction orientation of Wall Street.

What People Are Saying About UsWhat People Are Saying About Us

“In less than a decade . . . Enron has emerged from

its unlikely perch in the utility industry as a model for

the new American workplace - every bit as much as

the Silicon Valley start-ups that usually come to mind

when the subject is entrepreneurship or innovation.”

SUNDAY, JUNE 27, 1999

Natural Gas Transportation and Electric Distribution

WholesaleEnergy

Net WorksTransportation

&Distribution

RetailEnergy

BroadbandServices

WholesaleEnergy

Marketing and Delivery of Energy Products Worldwide

Transportation&

DistributionNet Works

RetailEnergy

BroadbandServices

COB

Hub

Palo

Verde

Hub

Henry

Hub

Entergy

Hub

Cinergy

Hub

Palo

Verde

Hub

Entergy

Hub

Cinergy

Hub

Henry

Hub

COB

Hub

COB

Hub

Palo

Verde

Hub

Henry

Hub

Entergy

Hub

Cinergy

Hub

COB

Hub

Palo

Verde

Hub

Henry

Hub

Entergy

Hub

Cinergy

Hub

Palo

Verde

Hub

COB

Hub

Entergy

Hub

Henry

Hub

PJMHub

TVAHub

ComEdHub

Cinergy

Hub

Natural Gas(Bcf/day)

13.3

22.0

1H99 1H00

65%

Power(Million MWh)

181

227

1H99 1H00

25%

Gas

Power

Coal

Marketing OfficesOwned and Leased Capacity

NYMEX Trading

Marketing Hub

Owned Gas Storage

Leased Storage

Power Plants

In Operation

In Construction

Under Development

Energy Marketing Activity

Enron’s North American Wholesale NetworkEnron’s North American Wholesale Network

Note: Volumes Include Natural Gas and Power

Frankfurt

Teesside1,875 MW

Sarlux551 MW

Wilton154 MW

Marmara478 MW

Nowa Sarzyna116 MW

Warsaw

Enron/Petrom JV

Amsterdam

APX

EEX

Stockholm

Helsinki

Arcos1,200 MW

Milan

LondonBrussels

Oxford

Zurich

Bucharest

Budapest

Offices

Energy Exchange

LNG Project Under

Development

Energy Services

Energy Partnerships

Leased Capacity

Utility Services Power PlantsIn Operation

In Construction

Under DevelopmentEnergy Marketing Activity

Gas

Power

Coal

Moscow

Mora la Nova1,600 MW

Madrid

1H99

0.7

Nordic Volumes

(Bcfe/d)

1H00

1.6

1H99

2.5

1H00

5.4

U.K. Volumes (Bcfe/d)

0.1

1.3

Continental Europe Volumes

(Bcfe/d)

1H99 1H00

Oslo

NordPool

Hamburg

IPE

Enron’s European Wholesale NetworkEnron’s European Wholesale Network

Enron Dynegy El Paso

41.7

17.6

12.311.2

AEP

PowerGas

Duke

15.8

8.0

14.4

Aquila Reliant PG&E Southern

10.7

13.411.1

Sempra

Leading Energy Marketers Second Quarter 2000

(TBtue/d)

Leading Energy Marketers Second Quarter 2000

(TBtue/d)

WholesaleEnergy

Transportation&

DistributionNet Works

Expansion Vehicle for New CommodityMarket Penetration

RetailEnergy

BroadbandServices

Currently Used for 60% of Enron’s transactions

TransactionsGross Transaction

ValueThrough 8/31: 271,000 $133 Billion

EnronOnline Extending Enron’s Products to the Internet

EnronOnline Extending Enron’s Products to the Internet

WholesaleEnergy

Transportation&

DistributionNet Works

RetailEnergy

Energy Outsourcingto Commercial and Industrial Customers

BroadbandServices

Enron’s Retail Energy CustomersEnron’s Retail Energy Customers

Over $20 Billion of New Contracts Signed Since Inception

High TechnologyHigh TechnologyManufacturingManufacturing Hotels / REITsHotels / REITs

Food ProcessingFood Processing Financial InstitutionsFinancial InstitutionsSports VenuesSports Venues Public Sector/InstitutionsPublic Sector/Institutions

QUEBECOR INC

WholesaleEnergy

Transportation&

DistributionNet Works

RetailEnergy

BroadbandServices

Bandwidth Managementand Broadband Delivery Services

Enron Broadband ServicesEnron Broadband Services

Enron Intelligent Network

Deploy the Most Open, Efficient

Network with Broad Connectivity

ContentServices

BandwidthIntermediation

Be the World’sLargest Buyer and

Seller of Bandwidth

Be the World’s Largest Provider of

Premium Broadband Delivery Services

Fiber

Servers

Pooling Points

Network Control

Bandwidth Marketing & Trading

ComprehensiveBandwidthManagement

Broadband Content Management & Delivery

Data Management Services

AccoladesAccolades

• “Most Innovative Company” 2000

“Most Innovative Company” 1999

“Most Innovative Company” 1998

“Most Innovative Company” 1997

“Most Innovative Company” 1996

• “100 Best companies to work for” 2000

“100 Best companies to work for” 1999

— Fortune

— Fortune

What It’s Like to Work HereWhat It’s Like to Work Here

Work Environment

Houston

- fast-paced- intense- unstructured- team-oriented

- attractive cost of living- 4th largest city in America- #1 U.S. city for entrepreneurship & growth

Analyst Program OverviewAnalyst Program Overview

The Program

Training

- two-year developmental program- one year rotations

- three-week orientation- technical training (e.g. modeling, valuation, derivatives, communication and work styles

- promotion opportunities based on performance

Business School Loan Program

Tax Analyst TrackUndergraduate or Graduate-level degrees

Tax Analyst TrackUndergraduate or Graduate-level degrees

The Tax Track

Training

- 18-month developmental program- six-month rotations

- one-week orientation- technical trainingPromotional Opportunities

Associate Program OverviewAssociate Program Overview

The Program- 18-24 month program- six-month assignments- three-week orientation/training program- promotion opportunities based on performance

Dates on CampusDates on Campus