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

07/26%tuL_i i.c~e~iF~e~•cani353 9b1


  syo 0



July 27, 2001

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

  t 1V . ~ 'c r . J ' l
r

lcenned+ L Lay
Ghafsmm of tho Board

Enron Corp.
P.O. Box 7288
xwation, TX 77251.288
713-863.6773
Fax 71.3853-5313



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-EO133-ES
to the Enron Corp_ Omnibus PaineWebber Account #HS-54630-EN today, July
27, 2001.

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

  Sincerely,
/X~/~ ~r

cc: Elaine Overturf
Pam Butler
Joanne Cortez
Sherrie Gibson

EC3864880050184

Endless possibilities."m

:XH063-00316

GOVERNMENT
EXHIBIT
  4098
  Crim. No. H-04-25 (S-2)