TO:       Ken

FROM:

DATE:

RE:

	 Sherrie Gibson )9)

	 August 6, 1998

	 Enron Stock Options as Collateral

Per Pam Bulter in the Compensation Department, under Enron's 1991 Stock Plan, no
awards (i.e. stock options) are assignable unless to family members. Since Enron
Corp. does not recognize any other assignments, your Enron stock options cannot be
pledged as collateral per Howard Williams.


   Lb~tJ~1) -


							  LAY-G34 0686