Derrick Jr., James IJames.Derrick@ENRON.cornj
		       Monday, October 22, 2001 8:17 PM
		       Joseph C. DUg (E-mail); cschwartz@velaw.com


		 Per our conversation.


cCCS.doc»


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		   Thank you.

GOVERNMENT
  EXHIBIT
  20951
 Crun No. H 04-0025

I

CONFIDENTiAL TREATMENT
   REQUESTED BY
W1WAMS & CONNOLLVLLp

Dug, Jo.

From:
Sent:
To:





     Andy, because of the current controversy surrounding LJM I
and LJM U, we believe It would be helpful for the Board to have a
general understanding of the amount of your investment and of
your return on investment in the LJM entitles. We understand
that a detailed accounting of these matters will soon be done in
connection with the response to the SEC inquiry. We very much
appreciate your willingness to visit with us.

  In responding to our questions with respect to your interest in
the LJM entities, we would appreciate your including any
Interest, direct or indirect, that the members of your family may
have had in the entitles.

  1.    What was your aggregate income attributable to LJM I
	and LJM II, inclusive of salary, consulting fees,
	management fees, partnership distributions, and gain on
	the sale of your partnership interests?

  2.    What was your aggregate investment In LJM I and LJM
	Ii? What was the aggregate amount invested in LJM I
	and LJM II by the other participants? What was your
	return on investment? Did you have a promote? if you
	did, what was It? How does your rate of return on
	investment compare to that of the other participants In
	LJM I and LJM ii?

  3..   Other than you and Michael Kopper, did any current or
	former employees, officers, or directors of any Enron
	entity or any of their family members have any economic
	Interest in or derive any benefit from LJM I or LJM ii?


  4.    We assume that in the course of the SEC inquiry and the
	litigation that has been filed, LJM and its relationship
	with Enron will be fully scrutinized. Do you know of any


					      EVE ~59~7
					  CONFIDENTiAL TREATMENT
					    REQUESTED BY
					  WILUAMS £ CONNOLLYLLP





potentially troublesome matter of which we should now
be apprised in connection with the LJM relationship?


							 EVE ~59O8
						  CONFIDENTIAL TREATMENT
						      REQUESTED By
						  WILLIAMS £ CONNOLLyLIP