To:     ~e Distribution List

 Prom:    Kenneth L. Lay

Subject:  Enron LOC

Interoffice
Memorandum


Depaitnent: Executive

  Date:     August 20, 2001

       This serves as notice of my intent to repay my outstanding loan balance of H,O00.000 plus interest in full
       with shares of Enron stock as of this day, August 20, 2001.

       C%~4 Bob Butts

	  Mary Joyce

	  Denise Ernest

	  Julie Heviland

	  SBG

						      /7

					       EG 001936565