=============
Page 1 of 11
=============

ENRON
2001 OPERATING & STRATEGIC PLAN - FORECAST
INCOME BEFORE INTEREST & TAXES BY BUSINESS UNIT
  (Millions of Dollars, except as noted)

		Effect of			Total
		Asset Sales	Adjusted	Other	Adjusted
	Plan	Timing	Forecast	Adjustments	Forecast
Americas	$ 957.9	$ -	$ 957.9	$ 1,059.2	$ 2,017.1
Europe	347.6	-	347.6	-	347.6
Global Markets	270.0	-	270.0	(100.0)	170.0
Industrial Markets	63.0		63.0	-	63.0
Net Works	103.8	-	103.8	-	103.8
Global Assets	276.9	51.3	328.2	(82.8)	245.4
Other Wholesale	(3.1)	-	(3.1)	-	(3.1)
Subtotal	2,016.1	51.3	2,067.4	876.4	2,943.8
Global Finance	200.0	-	200.0	(40.0)	160.0
EGEP	4.7	15.3	20.0	-	20.0
EES Wholesale books	-	-	-	(200.0)	(200.0)
Prepays	(168.3)	-	(168.3)	-	(168.3)
Structured Transactions & Other	293.2	-	293.2	(145.0)	148.2
Subtotal Wholesale	2,345.7	66.6	2,412.3	491.4	2,903.7
Enron Transportation Services	390.0	-	390.0		390.0
Portland General	100.0	91.8	191.8	-	191.8
Subtotal Transmission & Distribution	490.0	91.8	581.8		581.8
EES	269.0	-	269.0	(44.0)	225.0
EBS	(65.0)		(65.0)	(25.0)	(90.0)
Azurix	(75.4)	-	(75.4)	(17.3)	(92.7)
EREC	(10.0)	-	(10.0)	(8.0)	(18.0)
Clean Fuels	(30.6)	-	(30.6)	-	(30.6)
Enron Investment Partners	(0.5)		(0.5)	-	(0.5) .
Corporate and Other	(226.6)	-	(226.6)	(33.0)	(259.6)
Overview	(30.0)	30.0	-	-	-
Income before Int & Inc Taxes	2,666.6	188.4	2,855.0	364.1	3,219.1
Financing Related Expense	663.4	284.8	948.2	-	948.2
Income Tax Expense	480.8	(23.1)	.457.7	87.4	545.1
TOTAL NET INCOME-RECURRING	$ 1,522.4	$ (73.3)	$ 1,449.1	$ 276.7	$ 1,725.8
Anti-dilutive preferred dividends	-	-	-	-	-
TOTAL NET INCOME-RECURRING	1,522.4	(73.3)	1,449.1	276.7	1,725.8
Non-Recurring Net Income	-	-	-	-	-
TOTAL NET INCOME .	1,522-4	(73.3)	1,449.1	276.7	1,725.8
DILUTED EPS					
Recurring	$ 1.71	$ (0.08)	$ 1.63	$ 0.32	$ 1.95
Non-recurring	-	-	-	-	-
TOTAL DILUTED EPS	5 1.71	5 (0.08)	$ 1.63	$ 0.32	$ 1.95
					
Avg shares outstanding - Diluted	885.0	885.0	885.0	885.0	885.0
Effective Tax Rate - Recurring Earnings	24.0%	24.0%	24.0%	24.0%	24.0%

C.~nE~...^G.lw.... rw.a O..4Ema m F~....u rEnH .1.1,'x^ rwr v..

EXH009-00272


=============
Page 2 of 11
=============

ENRON
2001 OPERATING & STRATEGIC PLAN
PROCEEDS FROM SALE OF ASSETS & RELATED DEBT
  (Millions of Dollars)

  Board Plan
Cash
  Proceeds Timing

  Current Forecast
Cash
  Proceeds Timing


  Increase/(Decrease) In Interest Expense
Timing of
  Cash Business Total
Proceeds Unit Debt

Elektro	2,000	March	-		90.0	12.0	102.0
Sale of PGE and related entities	1,600	March	-		72.0	58.5	130.5
EREC/Wind Company	700	April	500	July	15.5	-	15.5
Peakers	600	December	1,500	March/April	(62.5)	-	(62.5)
Sale of E&P Assets in India	600	February	600	July	15.0	-	15.0
Gaspart LDCs	470	July	491	July-Aug	(1.6)	-	(1.6)
HPL Assets	-		244	June	(7.3)	-	(7.3)
West Midstream Originations	218	Various	218	Various	-	-	-
Hainan Power Plant	152	July	152	December	3.8	-	3.8
Cope) Investment	135	Sept-Oct	135	Sept-Oct	-	-	-
TNPC Warrant Monetizations	83	Quarterly	83	Quarterly	-	-	-
Transredes	70	Mar & Jun	70	Mar & Jun	-	-	
MetGas	69	June	-		2.1	-	2.1
Sichuan Jialing Power Plant (Chengdu)	67	July	67	December	1.7	7.4	9.1
Selldown of India Data Center	67	Sept & Dec	67	Sept & Dec	-	-	
Calife	54	June / Aug	-		1.1		
Cuiaba	25	July	-		0.6	-	0.6
Other	40		40		-	-	
Total Proceeds from Sale of Investments	$6,950		$4,167		130.3	77.9	208.2
Minority Interest							76.6
Total Financing Related Expense							$ 284.8

EMPrC Lotus Notes. Dala\IEmail to Freverb YEAR. xtSINew Total Year,
104 8.13 PM

EXH009-00273


=============
Page 3 of 11
=============

	ENRON	
2001	OPERATING & STRATEGIC PLAN	
	ENRON AMERICAS	
	SUPPLEMENTAL INFORMATION	
	(Millions of Dollars)	
	1st Qtr	Year
Schedule C Reserves-3/1/01	$ 1,100.0	$ 1,100.0
Specific Reserves -		
California Credit	(350.0) (a	(350.0)
Specific Transactions	(150.0)	(150.0)
Volatility	(280.5)	- (b
Gain on Sale of Peakers	230.0	630.0
HPL	-	(100.0)
Other	(13.0)	-
Available for Earnings	$ 536.5	$ 1,130.0
To cover overview & additional EPS (536.5)	(1,059.2)
Net remaining	$ -	$. 70.8

Current Status: Assumes $165 million margin for March to hit original plan for Q1.
Assumes ENA will hit original Q2, Q3 & Q4 plan (IBIT $692.4 million)

a) Assumes 30% recovery on -$500 million of negative CTC receivable.
b) Assumes any amount funded with "new money".

C:\TEMPtC.Lorus.Noies.0ata'Email to Freveri-YEAR.zislNew Total Year

EXH009-00274


=============
Page 4 of 11
=============

ENRON
2001 OPERATING & STRATEGIC PLAN
OTHER WHOLESALE SERVICES
SUPPLEMENTAL INFORMATION
(Millions of Dollars)

  IBIT

  1st Qtr Year
Europe - on target

Global Markets
  Business Variance (40.0) (100.0)

Industrial Markets - on target -

Net Works
  Expense variance (16.0)

Global Assets		
Operational Variances	(19.7)	(38.0)
Nuclear Waste	(17.1)	(44.8)
	(36.8)	(82.8)
Impact of delay of sales		
Elektro	-	88.3
Metgas	-	(37.0)
		51.3
Total Global Assets variance	(36.8)	(31.5)

CITEMP~C.lolus.NOres,DawgE-t lo Fre.en-YEAR.alalNew Total Year

  4.4
  Net Income
(37.0)


EXH009-00275


=============
Page 5 of 11
=============

	ENRON	
2001	OPERATING & STRATEGIC PLAN	
	ENRON GLOBAL FINANCE	
	SUPPLEMENTAL INFORMATION	
	(Millions of Dollars)	
	1st Qtr	Year
Interest Income on Raptor Notes	$ 18.3	$ 84.2
Savings on convertible bonds	6.6	40.0
Other fees	3.0	6.6
Net expenses	(6.8)	(18.7,)
Overview	3.9	87.9
Total Forecast	25.0	200.0
Reduction of interest expense	(6.6)	(40.0)
IBIT Forecast	$ 18.4	$ 160.0

C \TEMP\C.Lot s.NOles.0ala4Emad to Freven-YEAR.xtSlNew Total Year

EXH009-00276


=============
Page 6 of 11
=============



ENRON
2001 OPERATING & STRATEGIC PLAN
STRUCTURED TRANSACTIONS AND OTHER
SUPPLEMENTAL INFORMATION
  (Millions of Dollars)

  1st Quarter Year


Tax Structured Transactions
LDC sales

To be created
Other

Total without EE&CC
Engineering & Construction
Total with EE&CC

$ $
100.0 -

  5.5 (17.1) (b
105.5 (17.1)
8.9 6.9

$ 114.4 $ (10.2)

Plan	Forecast
$ 90.0	$ 40.0 (a
100.0	30.0
100.0	100.0
3.2	(44.6) (c
293.2	125.4
65.0	22.8
$ 358.2	$ 148.2

a) New transactions to be indentified.

b) Reclass of 50% ETOL from Europe to EES - $12.6 million, El prior period.costs - $4.5 million.
c) Reclass of 50% ETOL from Europe-to EES - $25 million; El prior period costs - $19.6 million.

C:\TEMPIC.Lok S.NOles.Oalal(Email W freveA-YEPR.AISINew Tolal Year

EXH009-00277


=============
Page 7 of 11
=============

ENRON
2001 OPERATING & STRATEGIC PLAN
PORTLAND GENERAL GROUP
SUPPLEMENTAL INFORMATION
(Millions of Dollars)

Portland General Operations

Special Items -
Gain on sales
Reserve reversals
NEIL refund
  Accounting change - EITF 98-10 (MTM)
Compensation
  Other

PGG IBIT

  1st Quarter
2001 2000
$ 56.2 $ 70.9

Year
2001 2000

$ 200.0 $ 261.8

  5.7 (8.2)
31.0 -
  5.0 -
(11.5) -
4.2 -

$ 56.2 $ 105.3 $ 191.8

Factors effecting earnings from operations -
Inflated wholesale power prices in the northeast; forecast power costs have doubled
Poor year for hydro; drought conditions
Retail loads down; energy efficiency measures being taken due to California

C,%TEMP%C.Lo-.NOteS.Oata4Emal to Freven.YEAR.xISINew Total Year

  5.7
49.5
15.4
(13.5)
(11.5)
  6.3
$ 313.7

FXHnn9-00278


=============
Page 8 of 11
=============

ENRON
2001 OPERATING & STRATEGIC PLAN
  ENRON ENERGY SERVICES
SUPPLEMENTAL INFORMATION
  (Millions, of Dollars)

Original Plan - including Engineering & Construction

Engineering & Construction Plan (moved to Wholesale)

Adjustment to hit Street plan

$ 48.5
(8.9)
39.6

$ 39.6


Year
$ 269.0

  (65.0)
204.0
21.0

  $ 225.0

Exposures -
  Assumes wholesale commodity book moves to Wholesale segment

  The New Power Company warrant monetization ($30 mm - Q1; $80mm - year). Need ENE stock price
of $73 and TNPC stock price of $6.20 to achieve Q1 monetization ($76 and $6.20 for year)

Tariff book exposure $20 mm 1Q; curve exposure of $100 mm.

C:\TEMP.C.Lotus. Notes. Data4Email to Freveo-YEAR.xlsINew Total Year

EXH009-00279


=============
Page 9 of 11
=============

ENRON
2001 OPERATING & STRATEGIC PLAN
ENRON BROADBAND SERVICES
SUPPLEMENTAL INFORMATION
  (Millions of Dollars)

a

  Highly Tentative
1st Qtr Year

Gross Margin
Expenses
Depreciation
Forecast
Negative overview
Adjusted Forecast

a) Gross Margin components -
Entertainment on Demand
Valuation
  Games
Trading
  Wholesale
Europe ventures & other

$ 64.0 a)
(88.5) b)
(15.0) c)
(39.5)

$ (39.5)

$ 37.0

  6-0
5.0
5-0
$ 64.0

b) Reflects corporate charge reduction of $33 million for year.
c) Reflects 10 year depreciable life for network equipment.

d) Reflects capex of -$350 million vs $700 million plan and/or off blance sheet structures.

c:\rEMP\C.laus.Noles.oala4 Email to Freven-YEAR.xISINew Total Year

$ 385.0

(350.0)
(100.0) d)

  (65.0)
(25.0)

$ (90.0)

EXH009-00280


=============
Page 10 of 11
=============

ENRON
2001 OPERATING & STRATEGIC PLAN
AZU RIX
SUPPLEMENTAL INFORMATION
  (Millions of Dollars)

Plan

Lower Azurix net income

  Adjusted Forecast

$ (17.1)

(14.4) (a

$ (31.5)

a) Azurix results down due to revised Argentina strategy
  - reduced revenues from planned amounts due to reduced captial expenditures .
- poor collectability of A/R.
  no tax benefit on losses.
  Merger related expenses - $8.1 million net of tax (100%)

Potential exposures (not included in estimates above)

Severance costs (assumes all Azurix employees terminated in 2001) - $11 .0 million
Costs associated with the sales of assets
  - Banker's fees $3.0 to $5.0 million
  - Divestiture/retention of key employees - $4.4 million
- Losses on sales of assets - $40.0 to $180.0 million

C:\TEMP1C.Lotus.Noles.Data4Emad to Freve1.YEAR.xIslNew Total Year

Year
$ (75.4)

  (17.3) (a
$ (92.7)

EXH009-00281


=============
Page 11 of 11
=============




  yo

ENRON
EARNINGS RELEASE - EXTERNAL FORMAT
  (Millions of Dollars. except as noted)

First Quarter

2001

Transmission & Distribution
Enron Transportation Services
Portland General
Total Transmission & Distribution
Wholesale Energy Operations & Services
Americas
  Europe
Global Markets
Industrial Markets
Net Works
  Global Assets
Other Wholesale
Subtotal
  Global Finance
Global E&P
  EES Wholesale books
Prepays
  Other
Total Wholesale Energy Ops. & Services
Enron Energy Services

  -iron Broadband Services
Corporate and Other
Azurix
  Enron Renewable Energy Corp
Clean Fuels
  Enron Investment Partners
Corporate & Other Expenses
Structured Transactions
Reclass from/to Wholesale
Total Corporate & Other

Overview
INCOME BEFORE INT., M.I. & INC. TAXES

  Interest Expense, Net
  Dividends on Preferred Stock of Subsidiaries
Minority Interest
PRE-TAX INCOME
Income Tax Expense
NET INCOME - RECURRING

DILUTED EPS
Recurring
Non-recurring
TOTAL DILUTED EPS

  ]shares outstanding -Diluted
Effective Tax Rate - Recurring Earnings

P % TFMI\C.Lot-Noies.0alai4Efnatl to Ffevm-QTR.dsf91T ae E8S MEL (2)

Plan	Update	Forecast
$ 130.0	$ -	$ 130.0
100.0	(43.8)	56.2
230.0	(43.8)	186.2

265.5	536.5	802.0
80.5	-	80.5
45.0	(40.0)	5.0
8.5	-	8.5
(4.4)	(16.0)	(20.4)
88.1	(36.8)	51.3
(0:8)	-	(0.8)
482.3	443.7	926.1
49.5	(24.5)	25.0
4.7	5.3	10.0
-	(200.0)	(200.0)
(35.1)	-	(35.1)
105.5	(115.7)	(10.2)
606.9	108.8	715.7
48.5	(8.9)	39.6
(35.0)'	(4.5)	(39.5)
(17.1)	(14.4)	(31.5)
(10.0)	(8.0)	(18.0)
(16.3)	0.2	(16.1)
(0.1)	-	(0.1)
(61.6)	(9.0)	(70.6)
4.0	-	4.0
(101.1)	(31.2)	(132.3)
22.4	(22.4)	-
771.7	(2.0)	769.7
203.2	(15.4)	187.8
18.4	-	18.4
23.8	13.4	37.2
526.3	-	526.3
126.3	-	126.3
$ 400.0	$ -	$ 400.0
		
$ 0.45	$ -	$ 0.45
$ 0.45	$ -	S 0.45
885.0		879.3
24.0%		24.0%

  2000 01 vs 00
Actual Growth
$ 127.9
  105.3
233.2 -20%

137.5
67.7
50.0
(14.2)
67.5

308.5
104.4
  4.1

(22-9)
29.8
423.9 69%

11.3 250%
(0.3)

(6.0)
11.9
(3.3)
(0.4)
(35.7)
6.8
(17.4)

  (44.1)

  612.7
161.1
  18.1
34.9
398.6
  72.2
$ 326.4

$ 0.38
$ 0.38

  851.9
18.1%

26%
17%
32%
23%
18%

EXH009-00282 '