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Enron Gas Pipeline Group

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%y -

Financial and Earnings Report

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Second Quarter 2000 Diluted E.P.S.

  Plan Actual

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EXH005-00938



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Six Months Ended June 30, 2000
Diluted E.P.S.
  Plan Actual

=XH005-00939



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Net Income
  ($MM)

Transportation & Distribution
Gas Pipeline Group
Portland General Group
Wholesale
  North America
Europe
  International Regions
Enron Energy Services
Enron Broadband Services
Corporate and Other
Azu rix

Recurring Net Income

Second Quarter
Plan Actual

$ 34
20

$ 58

20

  113
30
23
  6
(16)
54
(6)



Six Months

Plan

$115

82

Actual
$143
  79

181	196	281
20	82	78
21	37	54

6

8

10

  (11)
5
  (11)

  $289

  (25) -- (14)
80~
  (17)
_ (9)

4-566

  629

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Diluted E.P.S.
Second Quarter

  1999


  I 26% Growth
$0.27

  2000

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sue,

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Diluted E.P.S.

Six Months Ended June 30,

  1999







  2000


  D Recurring  Non-recurring
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Second Quarter Earnings by Segment
  ($ MM)

Wholesale Energy Operations
Transmission & Distribution

Retail Energy Services
Broadband Services

Corporate and Other
Interest, MI, & Income Tax

Net Income

  Second Quarter
2000 1999

~~ $ 437 $ 356
139 128

~- 24

(26)

Six Months
2000 1999
$856 676

372 346

40 (57)

  (8) - (8)
17 11 (27) 37

  (320) (247) (606) (527)
$289 $222 $627 $475

  0
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Balance Sheet Debt
2000 Activity
  ($MM)
Jan- July -
June Dec

Opening Debt Balance

$ (8,152) $ (11,697)

Full
Year Plan

$(81152) $(89200)

Funds Flow from Operations	183	2,317	2,500	2,300
Change in Working Capital. c;	(605)	605	-	40
Proceeds from Sales of Assets~_ 67	1,240	1,307	1,307
Capital `"Expenditures	(994)	(851)	(1,845)	(1,674)
Equity Investments	(1,394)	(382)	(1,776)	(1,687)
Dividends	(265)	(287)	(552)	(450)
Other	(537)	267	(270)	(424)
Period Activity	(3,545)	2,909	(636)	(588)

Period Ending Debt Balance $ (11,697) $ (8,788) $(81788) $(89788)

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XHO05-00944