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lteroffice
Memorandum

To: See Distribution List

From: Kenneth L. Lay

Subject: Enron LOC

Department: Executive

Date: September 4, 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 today, September 4, 2001.



CC: Bob Butts

Mary Joyce
N Elaine Overturf

Respect
Form 000-469-E(7/92)

EXH063-00304

  EC38648B0050130
Integrity Communication Excellence

GOVERNMENT
EXHIBIT
  4086
  Crim. No. H-04-25 (S-2)