============= Page 1 of 5 ============= Fourth Quarter 1998 ENRON CORP. Table 2b - Results by Segment (Unaudited in millions, except per share amounts) IBIT: Transportation and Distribution Gas Pipeline Group Portland General Wholesale Energy Operations and Service Retail Energy Services Exploration and Production Corporate and Other IBIT Interest and Related Charges, net Dividends on Preferred Securities of Subsidiaries Minority Interests Income Tax Provision (Benefit) Net Income Preferred Dividends Second preferred stock Earnings on Common Stock Average Number of Shares Used Basic Diluted Earnings per Common Share: Basic Diluted Non- Recurring Recurring Total $ 84 $ - $ 84 84 - 84 201 - 201 (26) - (26) 31 - 31 26 (39) (13) 400 (39) 361 152 - 152 19 - 19 17 - 17 41 (44) (3) 171 5 176 4 - 4 $ 167 $ 5 $ 172 661.8 716.4 716.4 7164 $ 0.26 $ 0.24 $ 0.01 $ 0.25 Note Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was effective August 13, 1999 EXH010-01249 ============= Page 2 of 5 ============= 1999 Year ENRON CORP. Table 2c - Results by Segment (Unaudited: in millions, except per share amounts) IBIT: Transportation and Distribution: Gas Pipeline Group Portland General Wholesale Energy Operations and Services Retail Energy Services Exploration and Production (a) Corporate and Other IBIT Interest and Related Charges, net Dividends on Preferred Securities of Subsidiaries Minority Interests Income Tax Provision (Benefit) Income before Cumulative Accounting Changes Cumulative Effect of Accounting Changes, net of tax Net Income (Loss) Preferred Dividends: Second preferred stock Series A and Series B Preferred Stock (b) Earnings (Loss) on Common Stock Average Number of Shares Used: (c) Basic Diluted Earnings (Loss) per Common Share: (c) Basic Diluted Non- Recurring Recurring Total $ 380 $ - $ 380 305 - 305 1,317 - 1,317 (68) - (68) 65 - 65 (17) 13 (4) 1,982 13 1,995 656 - 656 76 - 76 135 - 135 158 (54) 104 957 67 1,024 - (131) (131) 957 (64) 893 17 - 17 49 - 49 $ 891 $ (64) $ 827 705.3 769.0 769.0 769.0 $ 1.17 $ 1.18 $ (0.08) $ 1.10 (a) Reflects results of Enron Oil & Gas through August 16, 1999, date of share exchange transaction. (b) The Series A and Series B Preferred Stock are antidilutive and therefore have been excluded from the calculation of diluted earnings per share. (c) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was effective August 13, 1999. EXH010-01250 ============= Page 3 of 5 ============= 1998 Year ENRON CORP. Table 2d - Results by Segment (Unaudited: in millions, except per share amounts) IBIT: Transportation and Distribution: Gas Pipeline Group Portland General Wholesale Energy Operations and Services Retail Energy Services Exploration and Production Corporate and Other IBIT Interest and Related Charges, net Dividends on Preferred Securities of Subsidiaries Minority Interests Income Tax Provision (Benefit) Net Income Preferred Dividends: Second preferred stock Earnings on Common Stock Average Number of Shares Used: Basic Diluted Earnings per Common Share: Basic Diluted Non- Recurring Recurring Total $ 351 $ - $ 351 286 - 286 968 - 968 (119) - (119) 128 - 128 7 (39) (32) 1,621 (39) 1,582 550 - 550 77 - 77 77 - 77 219 (44) 175 698 5 703 17 - 17 $ 681 $ 5 $ 686 642.3 695.3 695.3 695.3 $ 1.07 $ 1.00 $ 0.01 $ 1.01 Note: Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was effective August 13, 1999. EXH010-01251 ============= Page 4 of 5 ============= Transportation and Distribution ENRON CORP. Table 3a - Core Business Highlights (Unaudited) Quarter Ended December 31, 1999 1998 Gas Pipeline Group (In Millions) Net Revenues Operating Expenses Depreciation & Amortization Equity in Earnings Other Income, net IBIT Total Volumes Transported (BBtu/d) (a) Northern Natural Gas 3,738 4,252 3,820 4,098 Transwestern Pipeline 1,460 1,492 1,462 1,608 Florida Gas Transmission 1,538 1,310 1,495 1,324 Northern Border Pipeline 2,406 1,781 2,405 1,770 $ 176 $ 167 74 71 14 20 8 4 1 4 $ 97 $ 84 Year Ended December 31, 1999 1998 $ 626 $ 640 264 276 66 70 38 32 46 25 $ 380 $ 351 Portland General (In Millions) Revenues Purchased Power & Fuel Operating Expenses Depreciation & Amortization Other Income, net [BIT $ 377 $ 327 179 129 81 65 44 47 32 (2) $ 105 $ 84 $ 1,379 $ 1,196 639 451 304 295 181 183 50 19 $ 305 $ 286 Retail Customers (end of period, thousands) 719 704 Electricity Sales (Thousand MWh) 719 704 Residential 2,004 2,052 7,404 7,101 Commercial 1,879 1,725 7,392 6,781 Industrial 1,198 921 4,463 3,562 Total Retail 5,081 4,698 19,259 17,444 Wholesale 3,300 2,237 12,612 10,869 Total Sales 8,381 6,935 31,871 28,313 (a) Reflects 100% of each entity's throughput volumes. EXH010-01252 ============= Page 5 of 5 ============= Wholesale Energy Operations and Services ENRON CORP. Table 3b - Core Business Highlights (Unaudited) Quarter Ended December 31, 1999 1998 Year Ended December 31, 1999 1998 Wholesale Energy Operations and Services (In Millions) Commodity Sales and Services $ 151 $ 107 $ 628 $ 411 Energy Assets and Investments 149 140 850 709 Unallocated Expenses (37) (46) (161) (152) BIT $ 263 $ 201 $ 1,317 $ 968 Commodity Sales and Services Physical Volumes (BBtue/d) (a) Gas: United States 10,219 7,941 Canada 4,406 4,101 Europe 1,604 1,605 Other 26 4 16,255 13,651 Transport Volumes 693 510 Total Gas Volumes 16,948 14,161 Oil 5,877 4,923 Liquids 947 586 Electricity (b) 10,306 8,609 Total Physical Volumes (BBtue/d) (a) 34,078 28,279 Electricity Volumes Marketed (Thousand MWh) United States 88,254 78,969 Europe 6,443 196 Other 121 46 Total 94,818 79,211 Financial Settlements (Notional)(BBtue/d) 109,872 79,879 (a) Includes third-party transactions of Enron Energy Services. (b) Represents electricity transaction volumes marketed, converted to BBtue/d. 8,982 7,418 4,398 3,486 1,549 1,243 23 8 14,952 12,155 575 559 15,527 12,714 5,407 2,960 753 610 10,742 11,024 32,429 27,308 380,518 401,843 11,143 483 433 46 392,094 402,372 99,337 75,266 EXH010-01253