============= Page 1 of 12 ============= Ken and Linda Lay Balance Sheet Comparison January 31, 2001 ENE $ CPQ $ Current Assets Marketable Investments Com & Pref Stocks 83.1250 $ 80.0000 15.0500 $ 23.7100 12/31/04 1/31101 Variance 9,545,297 11,179,810 1,634,513 Note Receivable from KLL & LPL Investments, Ltd.-$1.7M 182,711,424 197,783,328 15,071,904 Restriction lifted on 203,893 shs of ENE Executive Stock Options 164,308,683 179,087,975 14,779,292 Add'I vesting-Grants #103453, 112855, 122048, 124378 & 150975 totaling 616.293 ENE stock opt. Bonds 853,888 856,645 2,757 Earthcare/SMH Mutual Funds 7,940,796 8,230,053 289,257 Partnerships (Family)* 30,757,351 36,315,533 5,558,182 Add'l vesting of 340,000 ENE stock options Long Term Investments 49,942,782 52,616,606 2,673,824 Houston NFL Holdings $2.5M; Sanders Opport Fund $250K + app write-off Carson Legend $250K Retirement/Deferred Assets 68,500,780 67,205,957 (1,294,823) Current Liabilities (83,295,522) (85,349,879) (2,054,357) ENE Restricted Sh taxes-margin less stock option proceeds Long Term Liabilities (126,412,177) (140,840,012) (14,427,835) Increase in Def. Tax Liability, Houston NFL Holdings Credit Fac Business Liabilities (275,029) (287,067) (12,038) NET WORTH S 308,074,262 $ 330,463,612 22,389,350 Value based on FMV of partnership assets. No discount for partnership interest is shown. NOTE: Net Worth of $330,463,612 does not reflect 1,523,300 unvested Enron stock options and 151,948 restricted shares of Enron Corp. Based on a FMV of $80.00/share as of 1/31/01, these options are valued at $51,366,286 and the restricted shares are valued at $12,155,840 totaling $63,522,126. The total value less deferred tax liability of 40% would add approximately $38,113,000 to the bottom line. LAY-G32 1361 LBF002-00754 GOVERNMENT EXHIBIT 223 Crim. No. H-04-25 (S-2) ============= Page 2 of 12 ============= Ken and Linda Lay Balance Sheet Comparison January 31, 2001 Ken and Linda have guaranteed a mortgage in the amount of $900,000 maturing on January 1, 2014 with an interest rate of 6.88% at Bank of America for their daughter, Robyn Vermeil. This loan is collateralized by property appraised at $965,000 as of December 9, 1998. Ken has also guaranteed three secured notes in the amounts of $250,000 and $275,000 maturing on October 23, 2001 and a construction loan in the amount of $1,230,000 maturing on January 17, 2003 for his sister, Sharon Lay. These loans all have an interest rate of 30-Day LIBOR + 1.5% and are collaterized by residential real estate. Linda has guaranteed a note secured by a 2000 Toyota Avalon in the amount of $26,949 and a note secured by a 2001 Toyota in the amount of $19,381. Linda has guaranteed a note in the amount of $130,000 maturing November 28, 2005 with an interest rate of 8.15% for Randy Gray. This loan is secured by residential real estate in Galveston. The outstanding commitments for various investments total $ 20,054,622. LAY-G32 1362 LBF002-00755 ============= Page 3 of 12 ============= List of Outstanding Commitments As of January 31, 2001 Total Outstanding PERSONAL Commitment Total Invested Commitment Capricorn Investors II LP Capricorn Investors III LP Carson Private European Fund Chase Cap Ptrs Private Eq Fund Corporate Opportunities Funds Environmental Opportunities Fund Environmental Opportunities II Fund Lazard Technology Partners II LP Murphree Venture Partners V, LP SRE Properties Partnership No. 1, L.P. Sterling Group Partners I, L.P. Vanguard VII LP Westbridge Ventures, L.P. SUBTOTAL List of Scheduled Commitments: Houston NFL Holdings (Offset by Credit Facility at Bank of Am) TOTAL Total Outstanding KLL & LPL INVESTMENTS, LTD. Commitment Total Invested Commitment 500,000 476,415 23,585 750,000 284,672 465,328 1,500,000 1,050,000 450,000 5,000,000 1,454,212 3,545,788 750,000 375,000 375,000 500,000 475,000 25,000 400,000 168,000 232,000 1,000,000 327,162 672,838 500,000 100,000 400,000 2,500,000 960,000 1,540,000 2,500,000 2,500,000 3,000,000 600,000 2,400,000 1,000,000 249,917 750,083 $ 19,900,000 $ 6.520,378 $ 13,379,622 11,675,000 5,000,000 6,675,000 $ 31,575,000 $ 11.520,378 $ 20.054,622 Capricorn Investors III LP Carson Private Capital IV (Hicks Muse) DLJ Millennium Partners LP G S Private Equity Partners LP Lazard Technology Partners II LP Murphree Venture Partners V, LP Sevin Rosen VI Affiliates SRE Properties Partnership No. 1, L.P. Sterling Group Partners I, L.P. TCW/Hines Emerging Markets R E Vanguard VII LP Westbridge Ventures, L.P. 250,000 94,891 155,109 1,000,000 900,000 100,000 250,000 250,000 - 2,000,000 1,363,670 636,330 500,000 163,582 336,418 500,000 100,000 400,000 50,000 37,500 12,500 2,500,000 960,000 1,540,000 2,500,000 2,500,000 1,000,000 365,566 634,434 2,000,000 400,000 1,600,000 500,000 124,958 375,042 TOTAL $ 13,050,000 $ 4,760,167 $ 8,289.833 LAY-G32 1363 LBF002-00756 ============= Page 4 of 12 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: January 31, 2001 February 18, 2001 ASSETS Balance % of Total Assets ° o of Workin;,Assets CURRENT ASSETS Cash on Hand: CASH ON HAND/SK 30.25 .0% .0 CASH ON HAND/PSTOKES 465.32 .0% .0 CASH ON HAND/MSTURGIS 200.00 .0% .0 CASH ON HAND/LEONA 381.63 .0% .0 CASH ON HAND/PRAKER 300.00 .0% .0 Total Cash on Hand 1,377.20 .0% .0 Checking Accounts: BANK OF AMERICA 0707 90,936.76 .0% .0 BANK OF AMER/LPL PROP 11,436.36 .00/0 .0 BANK OF AMER/STOKES 2,330.90 .0% .0 CHASE BANK CHECKING 583.12 .0% .0 VECTRA BANK 2,597.18 .0% .0 UNITY 109-900 2,861.50 .0% .0 Total Checking Accounts: 110,745.82 .0% .0 Money Market Accounts: WASHINGTON DC ACCT 90.000.00 .0% .0 Total Money Market Accounts: 90,000.00 .0% .0 Brokerage Accounts: CHARLES SCH-CAPROCK/SCH-CR 132,533.48 .00,'0 .0 GOLDMAN SACHS/GS-61 166.046.16 .0% .0 GOLDMAN SACHS/GS-42 191,770.70 .00,/0 .0 MORGAN STANLEY MM A/MS-36 65,471.30 .0% .0 PAINE WEBBER MMA/PW-22 60.81 .0% .0 PAINE WEBBER CYPRESS/PW-43 -13,348.62 .0% .0 PAINE WEBBER HB/PW-65 28,425.29 .0% .0 PAINE WEBBEREGA/PW-11 126,633.17 .00,/0 .0 SANDERS MORRIS MMAISMB-JT 65,632.72 .0% .0 PAINE WEBBERTCW CE/PW-71 14,796.69 .00.'0 .0 PAINE WEBBER TCW MC/PW-72 33,245.74 .0% .0 WATERHOUSE SEC-MMA/WSI 2.99 .0% .0 Total Brokerage Accounts: 811,270.43 .1% .1 Savings Accounts: ENRON CREDIT UNION/KLL 45.45 .0% .0 Total Savings Accounts: 45.45 .0% .0 Treasury Bills: SAVINGS BONDS 1,200.00 .0% .0 Total Treasury Bills: 1,200.00 .0% .0 Page 1 LAY-G32 1364 LBF002-00757 ============= Page 5 of 12 ============= February 18, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: January 31, 2001 - Balance % of Total Assets of Workin- Assets Short-term Receivables: ACCT RECV-KLL & LPL INVEST 1,700,000.00 .3% .., ACCT RECV-TDH 500, 000.00 .1 .1% ACCT RECV-TDH (LOOSCAN) 1,000,000.00 .2% ACCT RECV-ivfKL 150,000.00 .0% .0 ACCT RECV-MKL (OVERBROOK) 1,309,400.00 .2% .2 ACCT RECV-RENT DEP (#1000) 2,102.08 .0% .0 ACCT RECV-RENT DEP (#811) 1.058.33 .0% .0 ACCT RECV-S. HOBBS 75,000.00 .0% .0 ACCT RECV-D. HOBBS 75,000.00 .0% .0 ACCT RECV-RRH 20,000.00 .0% .0 ACCT RECV-RRH(DEL MONTE) 1.535,786.52 .3% .3 ACCT RECV-RRH (DICKEY) 135,000.00 .0% .0 ACCT RECV-BJONES 104.568.29 .0% .0 ACCT RECV-RV 52,061.87 .0% .0 ACCT RECV-ELV(FL) 580,000.00 .1% .l ACCT RECV-ELV(TX) 790,242.27 .1% .1 ACCT RECV-G KNNEAR 625.000.00 .1% .1 ACCT RECV-E MCELROY 2,750.00 .0%'~ .0 ACCT RECV-MISC 13.80 .0% .0 ACCT RECV-RANDY GRAY 4,500.00 .0% .0 ACCT RECV-S. ADARO 6.900.00 .0% .0 ACCT RECV-A. PHILLIPS 37,000.00 .0% .0 Total Short-term Receivables: 3.706.383.16 1.6 1.6 Notes Receivable: FAMPTRNS ANNUITY-2/KLL 730,081.17 .1% .1 FAM PTRNS ANNUITY-2/LPL 723.707.10 .1 .1% Total Notes Receivable: 1.458.788.27 .3% ._ TOTAL CURRENT ASSETS 11.179,310.33 2.0 2.0 MARKETABLE INVESTMENTS Enron Corp. 3 152.366,720.00 Common Stock 11,820,737.20 Fayez Sarofim Mgmt.-Com 3,298,28029 Sanders Morns Mundy-Com 240,292.31 Cypress Asset Mgmt.-Com. 3.667,415.84 Goldman Sachs-Com 2,161,182.65 Goldman Sachs-Internet 94 7,116.00 Caprock Capital Advisors 745,470.47 Harris Bretall 456,035.58 PaineWebber Core Hold. 5,273,137.56 TCW Core Equity 7, 58,111.70 TCW Mid Cap Equity 2,179,256.18 Morgan Stanley & Co. 1,71 1,666.90 Eagle Global 1,254,2 36.85 Page 2 LAY-G32 1365 LBF002-00758 ============= Page 6 of 12 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: January 31, 2001 February 18, 2001 - Balance 0/q o f Total Assets % of Working Assets ACOUSTIC TECH 100,000 SH-B 210,000.00 .0% .0 AMER EQ LIFE HLDG/SMH-JT 199,875.00 .00.'0 .0 AMER EQ LIFE 2500/SivfH-JT 39,975.00 .0% .0 DR RED DUKE INC 52,632 SHS 100.000.80 .0% .0 ECOUTLOOK COM SERIES B 200,000.00 .0% .0 ECOUTLOOK COM SERIES C 299,999.57 .1% .1 ETERNITY, INC. 1.500 SH-A 300,000.00 .1% .1 EVELOSITY CORP. SER B 850,000.00 .2% .2 FLASHFIND CORP 150,000 SHS 187,500.00 .0% .0 HOSTCENTRIC 54,347 SH-B 249,996.20 .0% .0 INDX SOFTWARE 18588/SMH-JT 50,001.72 .000 .0 LOMBARDI SOFT 75005/S vfH-JT 75,000.00 .0% .0 NETVERSANT 125,000/SMH-JT 500,000.00 .1°0 .1 OLD BALDY CLUB 250 SHS 28,360.00 .0% .0 QUESTIA MEDIA 558,306 SH-A 2,155,061.16 .4% .4 QUESTIA MEDIA 1294297SH-B 4.999,998.74 .9% .9 QUESTIA MEDIA 12.821SH 29,360.09 .0% .0 RED SKY INT 5,000SH/SMH-JT 247.800.00 .0% .0 RED SKY INT 2,000SH/SMH-JT 180,740.00 .0% .0 Total Privately-Held Stock: 10,903,668.28 2.0 2.0 Vested Exec Stock Options: CPQ ESO 4-97 5000SH (98) 38,400.00 .0% .0 CPQ ESO 4-97 25000SH (99) 192,000.00 .0% .0 CPQ ESO 4-97 4370SH 68,565.30 .0",0 .0 CPQ ESO 4-98 2,424 SHS 22,470.48 .0°'0 .0 CPQ ESO 4-99 2,953 SHS 35.022.58 .0% .0 CPQ ESO 4-99 12500 SH (00) 250.00 .09'0 .0 ENE ESO 2-94 112,952 SHS 7,144,214.00 1.3 1.3 ENE ESO 2-94 5,040 SHS 317,520.00 .10,'0 .1 ENE ESO 12-95 203,140 SHS 12,379,351.60 2.2 2.1 ENE ESO 12-96 118.620 SHS 6,932.152.80 1 2 1.3 EVE ESO 1-97 113,090 SHS 6,530,947.50 1.2 1.2 ENE ESO 1-97 1,275,000 SHS 74,345.250.00 13.3 13.4 ENE ESO 1-98 127,184 SHS 7,623,408.96 1.4 1.4 ENE ESO 12-98 442,988 SHS 22,800.592.36 4.1 4.1 ENE ESO 12-99 650,000SHS 27,326,500.00 5.0 5.0 ENE ESO 1-00 384,617 SHS 12. 2.3 2.3 ENE ESO 2-00 26 SHS 455.00 .0% .0 ENE ESO 1-01 52,175SHS 257,744.50 .0% .0 Total Vested Exec Stock Options: 179,087,974.81 32.2 32.4 Corporate Bond-Convertibl: LAKEWOOD SPORT CONV/SMH-JT 52,250.00 .00,/0 .0 LAKEWOOD SPORT-1/SMH-JT 52.250.00 .0% .0 Page 3 LAY-G32 1366 LBF002-00759 ============= Page 7 of 12 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: January 31, 2001 February 18, 2001 Balance ° A of Total .Assets % o f Working Assets LAKEWOOD SPRT CONV2/SMH-JT 30,041.00 .0% .0 EARTHCARE CO DEB/SMH-JT 100,000.00 .0% .0 EARTHCARE CO 1534SH/SMH-JT 1,534.00 .0% .0 EARTHCARE CO 2531SH/SMH-JT 2,531.00 .0% .0 EARTHCARE CO 2594SH/SMH-JT 2,594.00 .0% .0 EARTHCARE CO 2688SH/SME-JT 2.688.00 .0% .0 EARTHCARE CO 2756SH/SMH-JT 2,756.00 .0% .0 EARTHCARE CO 1SH/SMH-JT 1.00 .0% .0 EVELOCITY CORD NOTE NO. 1 150.000.00 .0;/0 .0 EVELOCITY CORD NOTE NO. 2 150,000.00 .0% .0 FLASHFIND CORPORATION 250,000.00 .0% .0 PHOTOFETE.COM CONVERT NOTE 60.000.00 .0% .0 Total Corporate Bond- Convertibi: 856,645.00 .2% .2 Mutual Funds: GS 1999 EXCH FND/GS 6,679,245.89 1.2 1.2 TCW SELECT EQLITIES FUND 843.871.35 .2% TCW AGRESSIVE GRWTH/NB 627,410.70 .1 % .1 TCW AGRESS GRVvrH LT 79.524.68 .00/0 .0 Total Mutual Funds: 8,2_30.052.62 1.5 1.5 Partnerships-other. KLL & LPL INVESTMENT PTRNS 34,438.031.00 6.2 6.2 KLL & LPL FAMILY PTRNS 1.87 7,502.00 .3% .3 Total Partnerships-other. 36.315.533.00 6.5 6.6 TOTAL MARKETABLE INVESTMENTS 422-2.273.53 3.24 75.3 76.3 LONG-TERM INVESTMENTS Residence: REAL ESTATE;HTJNTTNGDON 10,100.628.96 1.8 1.8 Total Residence: 10,100.628.96 1.8 1.8 Real Estate Other Homes: REAL ESTATE/ASPEN 2,867,563.59 .5% .5 REAL ESTATE/ASPEN2 5,617,968.03 1.0 1.0 REAL ESTATE/ASP-N3 6,251.793.78 1.1 1.1 PIRATES' COVE LOTS 299,742.66 .1°0 .1 REAL ESTATEB-3431 447, 544.79 .10,/0 .1 REAL ESTATE/B-3429 695,91 7.34 .1010 .1 REAL ESTATE/B-3433 859,357.60 .2% .2 REAL ESTATE/REB A 492, 63 9.61 .1% .1 REAL ESTATE/CREEKSTONE LOT 1, 700,804.25 .30,'0 .3 REAL ESTATE/WESTGATE 283.195.50 .1% .1 REAL ESTATE/2514 AVALON 283,421.38 .1°'0 .1 Total Real Estate Other Homes: 19,799,948.53 3.6 3.6 Page 4 LAY-G32 1367 LBF002-00760 ============= Page 8 of 12 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: January 31, 2001 February 18, 2001 Balance of Tota l Assets °i0 of Worldn7 ?sue Real Estate Active Rental: REAL ESTATE/1741SR 147,309.00 .0% .0 REAL ESTATE/1852'vfAR 104.044.97 .0% .0 REAL ESTATE/ 1856MAR 173,048.67 .0% .0 REAL ESTATE'1918SR 243,875.17 .0% .0 REAL ESTATE/KL IGS 190,000.00 .0% .0 REAL ESTATEJVIKING 60,000.00 .0% .0 REAL ESTATE/Tv1E-`CCO MO 240,026.00 .0% .0 REAL ESTATE'2403AVALON 944,179.00 .2% Total Real Estate Active Rental: 2.102,482.81 .4% 4 Real Estate Passive: B LENHEIM APARTS, LTD. 225.000.00 .0% .0 COLORADO OASIS LTD. 223,448.00 .0% .0 CREEKSTONE SOUTH RICE PTRS 291,800.00 .10/0 .1 CREEKSTONE WALNUT LP 750.000.00 .10/0 .1 DYM,s-'CON APARTMENTS, LTD 22.422.00 .0% .0 JESTER APTS PARTNERS.LP 470,413.00 .1 % . l J.T.FAM,SR.INVEST.. LTD. 451,408.00 LAKE CHARLES APTS., LTD. 240,000.00 .0% .0 MILAND INVESTMENTS LLC 844,370.60 .2% .2 NOLANA. LTD. 186.000.00 .00./0 .0 SRE PROPERTIES PTR NO. 1 960.000.00 .2% 2 TRAILSIDE APTS. LTD. 500,000.00 .I% .1 W.E. TRADE INVESTMENTS LTD 265,537.00 .0% .0 W.A.REHAUSENLOT INV LTD 117,302.00 .0% .0 Total Real Estate Passive: 5,547,700.60 1.0 1.0 Farming Interests: 11ACRES ILLINOIS 4,500.00 .0% .0 Total Farming Interests: 4,500.00 .0% .0 Other Investments: BROADWING, I.LC 100,000.00 .0% .0 CAPRICORN INVESTORS 11 LP 594,955.00 .10,/0 .1 CAPRICORN INVESTORS III 286,024.00 .1% .1 CARSON PRIV CAP EUROPE LP 1.025,818.00 .2% .2 CHASE CAP PTRS PRV FUND 1,514,409.47 .3% .3 CORPORATE OP PT FUND/SME-JT 423,000.00 .1% .1 CHAMPION L.L.C; SMH-JT 96, 812.00 .0% .0 CON-EQUIP LLC/SIYH- -JT 100,000.00 .0% .0 CON-EQUIP II LLC/SMH-JT 43,600.00 .0% .0 ENVIR OPP 500.000SH/SMH-JT 272,000.00 .0% .0 ENVIRON OPP FUND lI/SMI-I-JT 86.800.00 .0% .0 Page 5 LAY-G32 1368 LBF002-00761 ============= Page 9 of 12 ============= February 18, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: January 31, 2001 HOUSTON NFL HOLDINGS 2.5% KESTREL VENTURES, LLC LAZARD TECH PTRS II LP LOMBARDI LLC/SMH-JT MURPHREE VENTURE PTRS LP MV PTRNS-CYBER DIALOGUE MV PARTNERS SANDERS OPPORT FUND/SMH-JT TACONIC CAPITAL PTRS LP TCW WESTBRIDGE VENTURES VANGUARD VII LP Total Other Investments: TOTAL LONG-TERM INVESTMENTS RETIREMENT/DEFERRED .-ASSETS IRA: PALNE WEBBER-IRA/KLL-PW Tom] IRA: IRA/'Spouse: PA IE WEBBER-IRA'LPL-PW Total IRA/Spouse: Retirement Plan: ENRON-RETIREMENT ENRON SAVINGS RO/PW401K ENRON SAV RO MNMA/PW401 K KEOGH MMA/PW-IS KEOGH MUNDER TECH/PW-18 ENRON SAVINGS 401(K) FID GROWTH CO 401(K)/KLL FED OTC 401(K)/KLL FID OVERSEAS 401(KYKLL FID MAGELLAN 401 (KYKLL MANULIFE ANN KLL/PW-R M ANULIFE ANN LPL/ PW-R Total Retirement Plan: Deferred Compensat'n Plan: PING PLAN-85 ENRON DEFERRED COMP-85 ENRON DEFERRED COMP-94 ENRON PHANTOM STOCK DEF ELI LILLY DEFERRED COMP TCW DEFERRED COMP Balance 5,000,000.00 42,441.59 32 7,162.00 40, 83 2.50 100, 000.00 346, 500.00 250,000.00 885,000.00 2.676, 074.00 249,917.00 600,000.00 15.061.345.56 52.616,606.46 56,537.11 5o.537.11 56.567-82 56,567.82 4,093.696.00 6.529,360.00 52,821.32 2,395.01 252, 871.30 1,466,616.80 23.557.58 13,102.14 23.295.2-2 60, 805.34 4,394,244.03 3.689.303.70 20,602,068.44 83,604.00 3,737,057.12 1,231,090.00 40,019,680.00 1,402,316.60 17,036.35 Page 6 of Total Assets .9% .0% .10,'0 .0% .0% .1% .0% .2% .5% .0% .1% 2.7 9.4 .0% 0`'0 0% 0% 7% 1.2 .0% .0% .0% .3% .0% .0% .0% .0% .8% .7% 3.7 of Worlans .assets .9 .0 .1 .0 .0 .I .0 .5 .0 .1 2.7 9.5 0 0 0 0 12 .0 .0 .0 .3 .0 .0 .0 .0 .8 .7 3.7 .0% .0 .7% .7 % .2 7.2 ,.2 .3 .3 .0% .0 LAY-G32 1369 LBF002-00762 ============= Page 10 of 12 ============= February 18, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: January 31, 2001 Balance % of Total Assets % of Worl anc, Assets Total Deferred Compensafn Plan: 46,490,784.07 8.3 8.4 TOTAL RETIREMENT/DEFERRED ASSETS 67,205,957.44 12.1 12.1 TOTAL WORKING ASSETS 553,275,907.47 99.3 100.0 PERSONAL/NON-E..R.NING ASSET Automobile(s): 90 JEEP WRANGLER 6,825.00 .0% 92 4WD JEEP CHEROKEE 11,750.00 .0% 93 MERCEDES 600SL 63,975.00 .0% 95 LT SUBURBAN CHEVY 21,365.22 .0% 96 RANGE ROVER 43,525.00 .0% 99 MERCEDES ML430 52,693.33 .0% 97 SUBURBAN CHE'v-Y 29,893.30 .0% 00 MERCEDES S500V 98,701.59 .0% 00 MERCEDES NIT-55 73,348.19 .0% 00 MERCEDES 0500 LWB 149.176.18 .0% 00 YELLOW JEEP WRANGLER 23?59.26 .0% 00 SILVER JEEP WRANGLER 23,303.14 0 00 RED JEEP WRANGLER 22.450.70 .0% 01 GMC DENALI 47,272.40 .0% 01 GMC YUKON 1,000.00 .0"0 01 GRAND CHEROKEE 3 7,7741.28 .0% Total Automobiles): 706,279.59 .1 %0 Home Furnishings: HOME FURNISHINGS;HLwT 2.092_,402.07 .4%,0 HOME FURNISHINGS ASPEN 138,984.11 .0°0 HOME FURNISHINGS/B-3431 163,984.20 .0% HOME FURNISIUNGSiB-3429 80,833.15 .0% HOME FURNISHINGS/B-3433 101,410.86 .0% HOME FURNISHINGS/ASPEN-1 236,641.69 .00/0 Total Home Furnishings: 2.314,256.08 .5% Other Vehicles & Equip: BW 21' OUTRAGE BOAT 49,327.00 .0% DUFFY 18'-1 19,098.00 .0% DUFFY 18'-11 19,098.00 .0% HURRICANE 19' 22.69 5.14 .0% SPIRIT CANOE 406.43 .0% SUPER SPORT BOAT 1997 33,502.74 .0% Total Other Vehicles & Equip: 144,127.31 .0% TOTAL PERSONAL/NON-E.ARNTNG ASSET 3,664.662.98 .7% TOTAL ASSETS 556,940,570.45 100.0 Page 7 LAY-G32 1370 LBF002-00763 ============= Page 11 of 12 ============= February 18, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: January 31, 2001 LIABILITIES CURRENT LIABILITIES Notes Payable: CHASE BANK LOC COMPASS BANK LOC ENRON CORP. LOAN BANK OF AMER S40M NON PAINE WEBB ER-LOC/PW-42 ACCT PAYABLE (ST)-ENRON Total Notes Payable: Securirv Deposits: SEC DEPOSIT,'Z-1918SR SEC DEPOSIT/Z-1856MAR SEC DEPOSIT;"Z-'MICDUF Total Security Deposits: Margin Acct Liability: PANE WEBBER :vLARGL,i/PW-44 PALN-E WEBBERMARGIN/PW-33 Total Margin Acct Liability: TOTAL CURRENT LIABILITIES Balance % of Total Assets % of Working Assets 12,600.000.00 3,939,871.12 4,000, 000.00 20, 769, 391.70 26,766,045.14 210,128.30 68,285,436.26 850.20 125.00 400.00 i, ,1 .5. - _ 1,634.68 7.79 15.423.379.92 17, 063, 06 7.71 85,349, 879.17 2.3 2.3 .7% .7 .7% .7 3.7 3.8 4.8 4.8 .0% .0 12.3 12.3 .0% .0 .0% .0 .0% .0 .0% .0 .3 % .3 2.8 2.8 3.1 3.1 15.3 15.4 LONG-TERM LIABILITIES Home Mortgage: BANK OF AMER'HUNTINGDCN 4,368,776.84 .8% .8 BANK OF AMER'HUNT #2 LIEN 490,516.57 BANK OF AMER/HUNT #3 LIEN 491.638.79 .1% .1 Total Home Mortgage: 5,350,932.20 1.0 1.0 Other Real Estate Mtge: BANK OF AMER/ASPEN 1,508,667.71 .3% .3 CITICORP MORTGAGE/B-3431 202.233. 17 .0% .0 BANK OF AMERB-3429 239,683.53 .0% .0 BANK OF AMER/B-3433 525,688.39 .1°'0 .1 BANK OF AMER/REBA 319,312.73 .1% .1 BANK OF AMER/2514 AVAALON 225,000.00 .0% .0 BANK OF AM/ASPEN2 4,279,926.68 .8% .8 BANK OF AM/ASPEN3 5,514,140.48 1.0 1.0 BANK OF AMER/2403AVALON 841,47I.72 20,/0 .2 Total Other Real Estate Mtge: 13,656,124.41 2.5 2.5 Investment Liabilities: BANK OF AIvIERICREEKSTONE 1,200,000.00 .2% ._ BANK OF AMER/GALV LOTS 91,693.57 .0% .0 Page 8 LAY-G32 1371 LBF002-00764 ============= Page 12 of 12 ============= February 18, 2001 Kenneth L. & Linda P. Lav BALANCE SHEET ANALYSIS As of: January 31, 2001 Balance % of Total Assets BANK OF AMER/WESTGATE LOT 191,250.00 .0% BK OF AM/CREDIT FACILITY 5,000,000.00 .9% Total Investment Liabilities: 6,482,943.57 1.2 of Work=aAssets .0 .9 1.2 Deferred Tax Liabilities: DEF TAX LIAB-STK OPT ONLY 115,350,011.60 20.7 20.8 Total Deferred Tax Liabilities: 115,350,011.60 20.7 20.8 TOTAL LONG-TERM LIABILITIES 140,840,01 1.78 25.3 25.5 BUSINESS LIABILITIES Employer Taxes/Bus: MEDIC WITHHELD-EE (TX) 61,752.30 .0010 .0 SOC SEC WITHHELD-EE (TX) 2.036.00 .0% .0 MEDIC WITHHELD-LPL EE(TX) 8,199.18 .0% .0 SOC SEC WTIHHELD-LPL (EE) 254.16 .0% .0 FIT WITHHELD-EE (TX) 127.434.72 .0% .0 FIT WITHHELD-LPL EE(7X) 14.558.00 .0% .0 SIT VV ITHHELD-EE (MO) 355.20 .0% .0 SIT WITHHELD-EE (HH-CO) 176.00 .0% .0 Total Employer Taxes/Bus: 214,795.66 .0% .0 Accrued FICA TaxBusiness: MEDIC PAYABLE-ER (TX) 61.752.40 .0°,/0 .0 SOC SEC PAYABLE-ER (TX) 2.036.00 .0°.'0 .0 MEDIC PAYABLE-LPL ER(TY) 8.199.18 .0% .0 SOC SEC PAYABLE-LPL ER(7C) 234.16 .0% .0 Total Accrued FICA Tax/Business: 72,271.74 .0°'0 .0 TOTAL BUSINESS LIABILITIES 2S7,067.40 .1 % .1 TOTAL LIABILITIES 226,476,958.35 40.7 40.9 NET WORTH TOTAL NET WORTH 330,463.612.10 59.3 59.7 TOTAL LIABILITIES AND NET WORTH 556,940,570.45 100.0 Page 9 LAY-G32 1372 LBF002-00765