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L,nA1WL'LN/CE0'S OFFICE NO. 995 P.1/1J 01

Interoffice
Memorandum

To: See Distribution List

From: Kenneth L, Lay'

Subject Enron LOC

Department; Department

Date: July 26, 2001


  This serves as notice of my intent to repay my outstanding loan balance of $4,000,000 plus interest in full with shares of
Enron stock as of this day, July 26, 2001.



cc: Ann Bennett

Bob Butts - Fax: 713-646-8409

Mary Joyce - Fax: 713-646-2110

Elaine Overturf


KENNETH L. OR LINDA P. LAY Bank of America, N.A.
OR SALLY A. KEEPERS OR SHERRIE GIBSON Houston, TX 77252 5027
2121 Kirby Dr., #137
HOUSTON, TX 77019 35-21130/266
713-630-0103

11900 50 2 Iii' 1:1130000231: 11326 6 2 5 30 70 ?"

EXH012-01875

EC3864880050181

GOVERNMENT
EXHIBIT
  2476
  Crim. No. H-04-25 (S-2)