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Interoffice
Memorandum

  To: See Distribution List
From: Kenneth L. Lay

3ubjec: Enron Line of Credit

Departme Executive

Date: June 19, 2001

This services 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, June 19, 2001.

CC: Rocky Emery

Bob Butts

Mary Joyce
N Elaine Overturf

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

EXH063-00341

Integrity


  01

EC38648B0050285

Communication Excellence

GOVERNMENT
EXHIBIT
  4123
  Crim. No. H-04-25 (S-2)