ENROK
EARNINGS RtEABE - EXTERNAL FORMAT
     ~~e0Oi~~n fl4

   PmntGIufler
Np

Plan     ..s.a      "~      MISS

TnmInIsSlofi a OIstThu~cn
  Emon flsnspactaVon Oarvloes
  pa Ga~
701st flwnsmlsslon a Wetibutfon

Wflo)saato Enoig OperaCons & SeMen
  Nfl flnodos

  Global Mantels

  SotMi Mission

  OALM2
    San Juan Gas
  APACIC
  Estghieeflng S Cws*uctn
  an        tate
  Sann Watt? E&P
  an NetWM
  New Power Cup
  Rhylln
  Snared flusadem (Taiias)

  Rkdcss totem Ceip & Oilier
  an ua~ s~
  Otor
701st Wbo resale 2,101w Ops.&&erdce.

if nrc., tergy Services
  Mb,S~' interns? SIRES
2.tton Eturm, Services * oct

Eaton Brc4dbsM CaMeos

ff6.2       (42.0)
?U        4!I&
219.4

102.2
Ste

56
	 WA         (18.4        4.0
	2118        (17.0)      199.3
	 85A         1.4         Mi
	 9.0         (94)        (0.1)

* *    218
       15.1
       37.8
       9.9.
       C~~)
       25.0

 6.9
(14,~
(24.0)
 3.1
 24
(28.01

so.~
its
-13.8
12,1

 *   27.0
     27.0

  (20.4)       85.3
 *             '63.5
    *          as.
    -           4.0
 * (BOA)       146,6
    -'C
    *           ~1)

  (12.5)     * 17.1.


  15,0         18.0

(ItO

		 45.0        44.0

     2.4         pA)

~~~~Jia*         1*           -
   906.8    *   (73.8)     USA

   '.43.?        C)          at
-~ *             0.7          -
    43.0       J~3~          39,6

	  (12.4)
-         48.0
-         (294

(51.3) -    477.1

 -          39.8

 *          89.8

4.1       (37.8)

Eqlorafln & Pwdueto,i

Corporate and Other

  2mg,, Rancwtta~,ugy Corp. net
  Clean Fuels
  Ree~
  anlnvea,wnPn.
  Corporate & OCier Sarponses
  Snared
  Redanfra,mcww)sst?a
rca? corporate & OIh.r

Overview

INCOME BEFORE tNT.. ML & INC. TAXES
  mats Expense, Not
  Dividends cc PreMredJtodc of Subsldaules
  Mbu* Watt
PRM'AIC INCOME
  teems Tax tipsens
Nfl?INOOME.ftECiIRRffiO

 (3.8)      (154      (IDA)


JA1          ±4
 (45)       (BOS)

(192.6)   * - 800,6

	      -       (184
	      *       28.3
	      -       (Its)

	      -       (U)
	     10.0    * (SOS)
	      *         2.7

(949)        IQA      ~4A)

103.0

678.2       *0,6     704.8     (15.0)

194.6
19.2

"as
07.4
N.J

    a,
 *   0.2
     'A

   2513     (18.0)
 *  ISA       -
  * 38.0      -
~r.
    a?    -

Wttettn DMdstids

$  330.2- $.6)6       300.4  *    -
-                           a

NET INCOUR

CILUIED EPa
 flemt,s
 Non.rewitig
TOTAL DILUTUD En

*   040   $  (006)

	      CAB

Avg utwe.ootslandsg -OlMad

BhrjveTex Hste-Rnountw Earning,

ml

U"

*  0.84   $


   "U

(B.?)  *  107.2

	  683.9
	  233.3
	  ISA
	  *8.0
	  U(0
	  03.?
	  300.4 -


	* 0.84

       1-lw
	  Ins

23*16

IS.        *  Gusts
Actual     -  Imat


  Ms
  tots
  20t2-


  09.8
  4U


	      -'tat--
  11.1
  (2*)
  'A

						    EC ggjgil3iA

A

V

 ACuatel
  &dCE


 *  103.2
     79,0
    iou

.10%

(22.7)

69.6

aa
10.8

 3.8

em

(81.?)

		 .5 -


 (19.8)
 12.1
 (LI)
* 215
 p7)
 (410)
 12.8
 22.7
  La

66%
-ton'
5316

35

     119.8
     19.3

 *   287.8
     I'S

     18.8
 *   208.7

*   0.28


    'Sc,

    11.3%

21116





     ENRON
4Th QUARTER OVERVIEW
    (MUons eWolf art)

Overview - Adjusted 2nd Current Estimate

Additional restloted stock oxpense
Lower if BA gain
Lower APAGHI earnings
Lower earnings from EE&CC
increased earnings toni EGF
Lower Interest expense (overview)
Additional Corporate bonuses
Other
Overview - Sept29
Business Units cover vesting of restricted stock
Increased enings from POe
Lower earnings torn EE&CC
Rhythms loss to $4.6.
lintased earnings needed frrIncreased fax rate
Increased Interest expense
Other

Overview-Oct 16

Lower earnings from PSO
Decreased earnings from EOM for CALME
Decreased earnings ton' ElM
APACHI gain on sale
Decreased earnings frdni Enrvrt Notnorka
Mdtlticnal Rhythms loss
Additional ESS earnings

Increased Interest expense
Decreased corporate expenses
Other

Overview. Adjusted 3rd Current Estimate

 $ (73.0)

   64.6
   60.0
   25.0
 * 10,0'
   (25.0)
 * (15.0)
   16.0
   (1.6)
   80.0
  (30.0)
  (20.0)
  * 7.4

   12.0
   20.4
   10.0
   2.2

   *0.0

 * 16.6
   8.0
  .20.4

  (14.$)
   13.0
   1.4

   (6.9)
  It?
  (10.0)
   6.8

 107.3

Oa~OPOPMt*1cURREsThMoawnap4Mow
lUhiWltO4AJd

ECOO19ITSIB





					       ENRON
				    4TH QUARTER POTENTIAL ITEMS
					     (Ttlans of Doilars)


		      Overview
		      Portland reserve reversal
		      Correotfon of ENA estimate to exclude ElM
		      Decreased South America gain
		      Apachi overview
		      Global Finance
		      Enron Netnarks
		      Rhythms loss
		      Decreased coiporate expenses, piimarfly HR
		      Decreased tnterest expense

		      Potential Overview


		      Potential Items to Cover Overview

		      Enron Networks

		      Global Markets
		      Industijal Markets back to plan
		      Total Potential Items


		      Items Included In 3rd Current Estimate

		      South-America gain an LOC sale
		      India gain
		      APACHI gain on asset sale


		      11fl~Ohi:G4AM

I

s 108.0
  (27.0)
  20.4
  50.0
  12.5
  (30.0)
  (45.0)

  iSA
  (10.0)
  (15.0)

  107.3

13.0
5.0

16.4
34.4

100.0

 42.3
 14.3

EG 001917316