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,uL_.cr.caalFAP%SZ 1353 9679 CHr1IRVA1/C.O'S Otr'1L'~
07/26i4UM~ ~~..,. NO. 992 P.1/1


  tiyo v

July 27, 2001

Mr. Craig Rathjen
PalneWebber, Inc.
Private Client Group
109 N. Post Oak Lane, Suite 150
Houston, TX 77024

Kenneth L W
Orarrrtmn of the Boe .d

Enron Coyp.
P-0. BOX Un
Huusefi, TX 77251.1188
713-E534M
Far 723-853-5313
kroutk.lay®VffM om

Re: Sale of 85,720 shares of Enron Corp. to Company for Repayment of
$4,000,000 Line of Credit plus accrued interest through July 26, 2001

Dear Craig:

  Please use this letter as your authority to transfer 85,720 shares of Enron
Corp. stock from the restricted stock option award, Grant No. 122050 whose
restriction lapsed on 1/11/01 currently in PaineWebber Account #HM-E0133-ES
to the Enron Corp_ Omnibus PaineWebber Account #HS-54630-EN today, July
27, 2001.

  Please call Sherrie Gibson at 713-630-0103 should you have any
questions.

  Sincerely,

cc: Elaine Overturf
Pam Butler
Joanne Cortez
Sherrie Gibson

EXH012-01873

Endless possibilities?"


  EC3864880050180

GOVERNMENT
EXHIBIT
  2474
  Crim. No. H-04-25 (S-2)