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January 24-25, 2001

Houston, Texas

ENRON cORP.
NYSE Stock Symbot ENS
Comniosi Dividend: 5.50
Shun Canning (Dlluted)t 875 MillIon
hitemnd Address: www.emoILCOm

Mark S. Koenig. Snot. Vice President
(713) !U-5981
Paula H. REeker. Managing Director
(713) 853-7203
Kathryn CarWily. Sr. Drecto
(713) 833-4785
Elizabeth hen. Sr. Director-*
(713) 345.7236
Scott Vonderhelda Obuctot
(713)853-4863

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Investor Conference

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		    Enron Corp. Valuation Considerations
			  $126                   (Cont'd)

      540
   Broadband


      $23
     Retail


      557
   Wholesale


    $6-r&D

* Per Share
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Proven Business Model Will Ei,able
Additional Businesses to Generate
Greater Value for Shareholders

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