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Interoffice
Memorandum

To: See Distribution List

From: Kenneth L. Lay

Subject: Enron LOC

Department: Executive

Date: June 22, 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, June22, 2001.



CC: Rocky Emery

Bob Butts

  Mary Joyce
Elaine Overturf


EC3864880050280

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

EXH063-00339

Integrity Communication Excellence

GOVERNMENT
EXHIBIT
  4121
  Crim. No. H-04-25 (S-2)