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:XH008-00533

PAINEWEBBER INCORPORATED
109 NORTH POST OAK LANE
SUITE 150
HOUSTON, TX 77024
0041006042

We confirm the following transaction

Trade activity Trade date
SOLD f 01/31/2001
39970 2,500 ENRON CORP 80.00
UNSOLICITED
  RULE 144

  Commission/Markup charge 06.00 cents per share
Order taken b EMERY FINANCIAL GROUP
  i
  SYMBOL ENE. CUSIP NO. 293561106

  PaineWebber Confirmation

  PAGE 1 OF 1
Account Number HM 01206
  Your Financial Advisor
  EMERY FINANCIAL GROUP 713-957-7000
HM 01206 0 0003
JEFFREY K SKILLING
  1912 NORTH BLVD
  HOUSTON TX 77098-5418

  II, 1111111111,111111111111111111I11 I1111I1111/1,11iiihII1111I
  Payment date/
Date processed Settlement date
01/31/2001 02/05/2001

00,000.00 $150.00 $6.67 $199,843.33

It is important that you retain this trade confirm Itlon for your tax and financial records. When remlttances/securltles are due, they must be received by us at the address above on or before the
Payment./Settlement date. Payments not receivec by the settlement date may be subject to a late settlement fee. Please Indicate your account number on your check or correspondence.
Make checks payable to PalneWebber Incorporated. Please see the back of this confirmation for additional terms and definitions applicable to this transaction.
PaineWehtter Incorporated is an indirect subsidiary of ITBS AG and an affiliate of URS Warlnre [[.C.

GOVERNMENT
EXHIBIT
  1947
  Crim. No. H-04-25 (S-7)