============= Page 1 of 20 ============= Ken and Linda Lay Balance Sheet Comparison October 31, 2001 Current Assets ENE $ 27.2300 $ 13.9000 CPQ $ 8.3100 $ 8.7500 9130101 10131/01 9,607,034 10,349,448 Marketable Investments Variance 742,414 Proceeds from Sale of Eli Lilly and Compaq stock to be used to pay down debt 11/01. Com & Pref Stocks 29,711,367 10,963,622 (18,747,745) 362,051 shares of ENE stock used to pay down Enron LOC, 5,000 sh of Eli Lilly sold, 124,596 sh of Compaq sold Executive Stock Options 8,610,388 3,190 (8,607,198) Bonds 252,273 255,240 2,967 Goldman Sachs Exchange 4,416,113 4,545,109 128,996 Partnerships (Family)' 7,111,291 4,506,999 (2,604,292) Long Term Investments 68,702,162 67,081,251 (1,620,911) SRE Properties sold Retirement/Deferred Assets 27,771,269 19,688,167 (8,083,102) Personal Non Earning Assets 3,608,881 3,632,279 23,398 Current Liabilities (13,407,844) (7,051,195) 6,356,649 Payment from sale of ENE to ENE and liquid. proceeds of PW Juniper Fund & SRE Properties Long Term Liabilities (31,900,563) (23,289,641) 8,610,922 Decrease in Def. Tax Liab.-unexerc gifted stk opt., paydown on NFL loc Business Liabilities (394,503) (142,378) 252,125 PYs Payroll tax liab. (Sch H) netted against PY tax payment-corrected NET WORTH $ 114,087,868 $ 90,542,091 (23,545,777) Value based on FMV of partnership assets. No discount for partnership interest is shown. NOTE: Net Worth of $90,542,091 does not reflect 242,821 restricted shares of Enron Corp. Based on a FMV of $13.90/share as of 10131/01, the restricted shares are valued at $3,337,212. The total value less deferred tax liability of 40% would add approximately $2,025,127 to the net worth. LAY-G32 1734 LBF002-00867 GOVERNMENT EXHIBIT 232 Crim. No. H-04-25 (S-2) ============= Page 2 of 20 ============= Ken and Linda Lay Balance Sheet Comparison October 31, 2001 CONTINGENT LIABILITIES: 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 valued at $1,500,000+. Ken has guaranteed three secured notes for his sister, Sharon Lay. The notes in the name of Sharon Lay Productions, Inc. are as follows, $275,000 that matured on October 23, 2001, $275,000 maturing on February 14, 2002 and a construction loan in the amount of $1,230,000 maturing on January 17, 2003. These loans all have an interest rate of 30-Day LIBOR + 1.5% and are collateralized by residential real estate. He has also guaranteed two unsecured notes, one in the amount of $50,000 for Sharon Lay Productions, Inc. that matures February 21, 2002 and one in the amount of $100,000 for Sharon S. Lay which matures September 25, 2002. 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. Ken and Linda have guaranteed an unsecured $6,000,000 line of credit for MILAND Investments, L.L.C. at Bank of America. The line of credit matures on April 5, 2002 with a floating interest rate of 30-Day LIBOR plus 1.25%. The amount currently funded on the line of credit is $4,936,750. On September 1, 2001, Ken and Linda have guaranteed an unsecured $1,000,000 line of credit for KLL & LPL Investments, Ltd. at Bank of America. The line of credit matures on September 1, 2002 with a floating interest rate of 30-Day LIBOR plus 1.25%. The amount currently funded is $0. Kenneth L. Lay, a preferred limited partner, executed certain indemnification agreements with the general partners of the following partnerships: Haines Apartments, Ltd., Nolana, Ltd., Resaca De Las Palmas, Ltd. and SAJG Kirby Braeswood, Ltd. The amount of the contingent liability, if any, has not been determined. Ken Lay has been named as a party defendant in several shareholder derivative actions against Enron Corp. and others. The outstanding commitments for various investments total $ 9,971,872. LAY-G32 1735 LBF002-00868 ============= Page 3 of 20 ============= List of Outstanding Commitments As of October 31, 2001 Total Outstanding PERSONAL Commitment Total Invested Commitment Broadwing, LLC 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 Genesis Park LP Jester Apartments-Slidell, LA Lazard Technology Partners II LP Murphree Venture Ptners (10/24-Rev) SMH LifeSciences Opportunity Fund 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 (10/31-Revised) 96,000 48,000 48,000 500,000 500,000 - 750,000 402,811 347,189 1,625,000 1,300,000 325,000 5,000,000 2,476,864 2,523,136 750,000 375,000 375,000 500,000 475,000 25,000 400,000 216,000 184,000 500,000 144,758 355,242 350,000 180,000 170,000 1,000,000 389,365 610,635 125,000 130,000 (5,000) 250,000 125,000 125,000 2,500,000 437,500 2,062,500 3,000,000 900,000 2,100,000 1,000,000 273,830 726,170 $ 18,346,000 $ 8,374,128 $ 9,971,872 5,000,000 5,000,000 - TOTAL $ 23,346,000 $ 13,374,128 $ 9,971,872 LAY-G32 1736 BF002-00869 ============= Page 4 of 20 ============= Kenneth L. & Linda P. Lay SUMMARY BALANCE SHEET As of: October 31, 2001 November 26, 2001 ASSETS CURRENT ASSETS Cash on Hand $ 3,562.02 Checking Accounts 156,667.21 Money Market Accounts 90,000.00 Brokerage Accounts 1,548,715.06 Savings Accounts 46.30 Treasury Bills 600.00 Short-term Receivables 7,091,069.29 Notes Receivable 1,458,788.27 TOTAL CURRENT ASSETS $ 10,349,448.15 MARKETABLE INVESTMENTS Enron Corp. $ 3,442,279.40 Common Stock-Director 4,345,480.00 Sanders Morris Mundy-Com 331,529.67 Cypress Asset Mgmt.-Com 2,827,167.66 Paine Webber Core Hold. 17,165.00 Vested Exec Stock Options 3,190.10 TOTAL MARKETABLE INVESTMENTS 10,966,811.83 LONG-TERM INVESTMENTS Residence $ 10,156,723.27 Real Estate Other Homes 20,342,222.85 Real Estate Active Rental 2,103,490.81 Real Estate Partnerships 4,770,161.08 Farming Interests 4,500.00 Privately-Held Stock 13,212,220.37 Corporate Bond-Convertible 255,240.00 GS 1999 Exchange Funds 4,545,109.31 Family Partnerships 4,506,999.00 Other Investments 16,491,932.47 TOTAL LONG-TERM INVESTMENTS 76,388,599.16 RETIREMENT/DEFERRED ASSETS IRA $ IRA/Spouse Retirement Plan Deferred Compensat'n Plan TOTAL RETIREMENT/DEFERRED ASSETS 41,597.94 41,632.16 5,924,504.13 13,680,432.50 PERSONAL/NON-EARNING ASSET Automobile(s) $ Home Furnishings Other Vehicles & Equip Page 1 475,478.20 3,012,673.94 144,127.31 19,688,166.73 LAY-G32 1737 LBF002-00870 ============= Page 5 of 20 ============= Kenneth L. & Linda P. Lay SUMMARY BALANCE SHEET As of: October 31, 2001 TOTAL PERSONAL/NON-EARNING ASSET TOTAL ASSETS LIABILITIES CURRENT LIABILITIES Notes Payable Security Deposits Margin Acct Liability TOTAL CURRENT LIABILITIES LONG-TERM LIABILITIES Home Mortgage Other Real Estate Mtge Investment Liabilities Deferred Tax Liabilities TOTAL LONG-TERM LIABILITIES BUSINESS LIABILITIES Employer Taxes/Bus Accrue Social Sec Tax/Bus TOTAL BUSINESS LIABILITIES TOTAL LIABILITIES EQUITY TOTAL NET WORTH TOTAL LIABILITIES AND NET WORTH Page 2 November 26, 2001 3,632,279.45 $ 121,025,305.32 $ 5,865,613.76 1,369.18 1,184,212.01 $ $ 5,295,743.50 14,689,746.82 3,280,074.87 24,076.00 $ 107,685.49 34,692.76 7,051,194.95 23,289,641.19 142,378.25 $ 30,483,214.39 $ 90,542,090.93 $ 121,025,305.32 LAY-G32 1738 BF002-00871 ============= Page 6 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 Balance ASSETS CURRENT ASSETS Cash on Hand: CASH ON HANDBVLILT 1,553.05 CASH ON HAND/CHUGLI 214.44 CASH ON HAND/LEONA 381.63 CASH ON HAND/MSTURGIS 199.77 CASH ON HAND/PRAKER 219.33 CASH ON HAND/PSTOKES 779.03 CASH ON HAND/SK 214.77 Total Cash on Hand: 3,562.02 Checking Accounts: BANK OF AMER/LPL PROP 8,418.45 BANK OF AMER/STOKES 312.65 BANK OF AMERICA 0707 137,441.47 CHASE BANK CHECKING 1,385.35 UNITY 109-900 4,424.90 VECTRA BANK 4,684.39 Total Checking Accounts: 156,667.21 Money Market Accounts: WASHINGTON DC ACCT 90,000.00 Total Money Market Accounts: 90,000.00 Brokerage Accounts: FIRST UNION MMA/FTU-24 91.83 FIRST UNION MMA/FTU-26 455.55 FIRST UNION MMA/FTU-30 0.68 FIRST UNION MMA/FTU-54 9,294.49 FIRST UNION MMA/FTU-58 77.53 FIRST UNION MMA/FTU-60 1,53 6,344.21 GOLDMAN SACHS/GS-61 625.17 PAINE WEBBER MMA/PW-22 1,840.31 SANDERS MORRIS MMA/SMH-JT -14.71 Total Brokerage Accounts: 1,548,715.06 Savings Accounts: ENRON CREDIT UNION/KLL 46.30 Total Savings Accounts: 46.30 Treasury Bills: SAVINGS BONDS 600.00 Total Treasury Bills: 600.00 Page 1 November 26, 2001 LAY-G32 1739 .BF002-00872 ============= Page 7 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 Balance Short-term Receivables: ACCT RECV-A. PHILLIPS 37,000.00 ACCT RECV-BJONES 102,412.99 ACCT RECV-BLANCA PEREIRA 25,000.00 ACCT RECV-CHAD MODAD 20,000.00 ACCT RECV-CHRISTINA EMERSO 10,000.00 ACCT RECV-D. HOBBS 66,666.00 ACCT RECV-DANIELA TERRAZAS 4,178.00 ACCT RECV-E MCELROY 350.00 ACCT RECV-ELV(FL) 580,000.00 ACCT RECV-FREDERICA MAYO 280.50 ACCT RECV-G KINNEAR 900,000.00 ACCT RECV-HUGUES HEYMAN 44,914.35 ACCT RECV-J EMERSON 28,615.85 ACCT RECV-JANE TRAN 25,000.00 ACCT RECV-JIM EMERSON 18,000.00 ACCT RECV-KLL & LPL INVEST 4,302,500.00 ACCT RECV-MARCELO LIQUITAY 10,000.00 ACCT RECV-MISC 5,051.95 ACCT RECV-MKL 150,000.00 ACCT RECV-OSVALDO PEREIRA 15,000.00 ACCT RECV-P TERRAZAS 12,939.96 ACCT RECV-PAMELA MAYORGA -19.17 ACCT RECV-PAOLATERRAZAS 724.45 ACCT RECV-RENT DEP (#1000) 2,102.08 ACCT RECV-RENTDEP (#811) 1,058.33 ACCT RECV-RUTH VILLALOBOS 50,000.00 ACCT RECV-RV 84,643.00 ACCT RECV-S. ADARO 9,985.00 ACCT RECV-S. HOBBS 66,666.00 ACCT RECV-T. ZILBERFARB 15,000.00 ACCT RECV-TDH 500,000.00 ACCT RECV-VAN STOKES 3,000.00 Total Short-term Receivables: 7,091,069.29 Notes Receivable: FAM PTRNS ANNUITY-2/KLL 730,081.17 FAM PTRNS ANNUITY-2/LPL 728,707.10 Total Notes Receivable: 1,458,788.27 TOTAL CURRENT ASSETS 10,349,448.15 MARKETABLE INVESTMENTS Enron Corp.: ENRON 50000SH 7-01/NFL 695,000.00 ENRON CORP 1,859SH(S),/NFL 25,840.10 November 26, 2001 Page 2 LAY-G32 1740 BF002-00873 ============= Page 8 of 20 ============= November 26, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 Balance ENRON CORP 2,246SH/CBT 31,219.40 ENRON CORP 35,000BA-INV 486,500.00 ENRON CORP 68,620SH/NFL 953,818.00 ENRON CORP 79,691SH/NFL 1,107,704.90 ENRON CORP 790SH(S)'NFL 10,981.00 ENRON CORP 9,440SH/NFL 131,216.00 Total Enron Corp.: 3,442,279.40 Common Stock-Director. COMPAQ COMP 11,970SH/BA 104,737.50 COMPAQ COMP 124596SH(2)/BA 1,090,215.00 COMPAQ COMP 20,000SHS/CBT 175,000.00 COMPAQ COMP 30,000BA-INV 262,500.00 COMPAQ COMP 71,094SHBA 622,072.50 COMPAQ COMP 83,064BA-INV 726,810.00 ELI LILLY 100-1SH/FTU-54 7,650.00 ELI LILLY 100-2SH/FTU-54 7,650.00 ELI LILLY 200SH/FTU-54 15,300.00 ELI LILLY 330 SHS/NFL 25,245.00 ELI LILLY 5,000 SHS(1)/CBR 382,500.00 ELI LILLY 5,000 SHS(2)/CBR 382,500.00 ELI LILLY 5000SH-2/NFL 382,500.00 12 TECHN 2000SH/FTU-60 18,240.00 12 TECHN 500SH/FTU-60 4,560.00 TNPC 100,000SH/FTU-60 92,000.00 TNPC 25,000SH-2/FTU-60 23,000.00 TNPC 25,000SHIFTU-60 23,000.00 Total Common Stock-Director 4,345,480.00 Sanders Morris Mundy-Com: CAP ENVIR l0,000SH/SMH-JT 38,000.00 CAP TITLE GR 37,037/SMH-JT 78,148.07 CAP TITLE GR 5,000/SMH-JT 10,550.00 TYLER TECHN INC/SMH-JT 161,500.00 WASTE CORP 16,666SH/SMH-JT 43,331.60 Total Sanders Morris Mundy-Com: 331,529.67 Cypress Asset Mgmt.-Com ABBOTT LAB 100-1SH/FTU-54 5,298.00 ABBOTT LAB 300-2SH/FTU-54 15,894.00 AMER EXPRESS 100SH/FTU-54 8,829.00 AMER EXPRESS 150SH/FTU-54 13,243.50 AMER HOME 100SH-4/FTU-54 5,583.00 AMER HOME 150SH-1/FTU-54 8,374.50 AMER HOME 150SH-2/FTU-54 8,374.50 Page 3 LAY-G32 1741 .BF002-00874 ============= Page 9 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 AMER HOME 150SH/FTU-54 AMER HOME 300SH-2/FTU-54 AMER HOME 400SH/f'TU-54 AMER INTL GRP 100-2/FTU-54 AMER INTL GRP 100SH/FTU-54 AMER INTL GRP 256SH/FTU-54 AMER INTL GRP 64SH/FTU-54 AMER INTL GRP 75SH/FTU-54 AMER INTL GRP 80SH/FTU-54 AMER INTL GRP 868SH/FTU-54 ANADARK PET 200SH-1IFTU-54 ANADARK PET 200SH-2/FTU-54 ANADARK PET 500SIVFTU-54 ANALOG DEV 200SH-1/FTU-54 ANALOG DEV 200SH-2/FTU-54 ANALOG DEV 500SH/FTU-54 AOL TIME 100 S-1/FTU-54 AOL TIME 100 S-2/FTU-54 AOL TIME 100 S-3/FTU-54 AOL TIME 100 S-4/FTU-54 AOL TIME 100 S-5/FTU-54 AOL TIME 200 S/FTU-54 AOL TIME 300 SHS/FTU-54 AOL TIME 400 S/FTU-54 APPLIED MAT 150SH/FTU-54 APPLIED MAT 250SH/FTU-54 APPLIED MAT 700SH/FTU-54 BANK OF NY 100SH/FTU-54 BANK OF NY 200SH-2/FTU-54 BANK OF NY 200SH-3/FTU-54 BANK OF NY 200 SH-4/FTU-54 BANK OF NY 200SHIFTU-54 BANK OF NY 300SH/FTU-54 BANK OF NY 500SH-1/FTU-54 BANK OF NY 500SH-2/FTU-54 BERKSHIRE HATH 14/FTU-54 BERKSHIRE HATH 3/FTU-54 BERKSHIRE HATH 4/FTU-54 BERKSHIRE HATH B3/FTU-54 BERKSHIRE HATH 2S/FTU-54 BMC SOFTWARE 300SH/FTU-54 BMC SOFTWARE 800SH/FTU-54 BRISTOL-MYERS 600SH/FTU-54 BURLING RE S 200 S H-1 /FTU- 54 BURLING RES 200SH-2/FTU-54 Page 4 Balance 8,374.50 16,749.00 22,332.00 11,790.00 14,698.20 37,728.00 9,432.00 8,881.80 11,790.00 68,224.80 11,410:00 11,410.00 28,525.00 15,200.00 11,400.00 26,600.00 4,63 3.90 4,633.90 4,633.90 4,633.90 4,633.90 9,485.50 13,901.70 18,753.30 5,116.50 8,527.50 20,466.00 3,401.00 6,802.00 6,802.00 6,802.00 6,802.00 10,203.00 17,005.00 17,005.00 3 2,95 6.00 7,062.00 9,416.00 7,062.00 4,708.00 4,521.00 12,056.00 32,070.00 7,450.00 7,450.00 November 26, 2001 LAY-G32 1742 3F002-00875 ============= Page 10 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 BURLINGTON I GOSH/FTU-54 BURLINGTON 300SH/FTU-54 BURLINGTON 600SH/FTU-54 CISCO SYST 150SH/FTU-54 CISCO SYST 205SH/FTU-54 CISCO SYST 290SH/FTU-54 CISCO SYST 500SH/FTU-54 CISCO SYST 50SH-1/FTU-54 CISCO SYST 50SH-2/FTU-54 CISCO SYST 800SH/FTU-54 CITIGROUP I00SH/FTU-54 CITIGROUP 150-1 SH/FTU-54 CITIGROUP 150-2SH/FTU-54 CITIGROUP 200SH-1/FTU-54 CITIGROUP 200SH-2IFTU-54 CITIGROUP 225SH/FTU-54 CITIGROUP 450SH/FTU-54 CITIGROUP 234SH/FTU-54 COCA COLA 100SH/FTU-54 COCA COLA 150-1 SH/FTU-54 COCA COLA 150-2SH/FTU-54 COCA COLA 150-3SIFFTU-54 COCA COLA 150-4SH/FTU-54 COCA COLA 200SH/FTU-54 COCA COLA 300SH/FTU-54 COSTCO CO 100-2SH/FTU-54 COSTCO CO 100-3 SH/FTU-54 COSTCO CO 100-1 SH/FTU-54 COSTCO CO 200SH/FTU-54 DELL COMP 200SHIFTU-54 DELL COMP 300SHIFTU-54 DELL COMP 500SH/FTU-54 DELL COMP 700SH/FTU-54 DISNEY WALT 100-2SHIFTU-54 DISNEY WALT 200-1SH/FTU-54 DISNEY WALT 200-2SH/FTU-54 DISNEY WALT 300-ISH/FTU-54 DISNEY WALT 300-2SHIFTU-54 DISNEY WALT 300-3SH/FTU-54 DISNEY WALT 600SH/FTU-54 FANNIE MAE 200SH/FTU-54 FANNIE MAE 300SH/FTU-54 GENERAL ELECT 100-1/FTU-54 GENERAL ELECT 100-2/FTU-54 GENERAL ELECT 100-3/FTU-54 Page 5 Balance 3,725.00 11,175.00 22,350.00 10,152.00 6,937.20 4,906.80 8,460.00 3,384.00 3,384.00 13,536.00 8,557.76 13,064.24 13,064.24 12,199.36 9,104.00 18,754.24 37,508.48 10,651.68 4,788.00 7,182.00 7,182.00 7,182.00 7,182.00 9,576.00 14,364.00 7,566.00 7,566.00 7,566.00 15,132.00 4,796.00 7,194.00 11,990.00 16,786.00 1,859.00 3,718.00 3,718.00 5,577.00 5,577.00 5,577.00 11,154.00 16,192.00 24,288.00 10,923.00 10,923.00 10,923.00 November 26, 2001 LAY-G32 1743 .BF002-00876 ============= Page 11 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 GENERAL ELECT 100-4/FTU-54 GENERAL ELECT 200-1/FTU-54 GENERAL ELECT 200-2/FTU-54 GENERAL ELECT 200-3/FTU-54 GENERAL ELECT 200-4/FTU-54 GLOBAL CROSS 300SH/FTU-54 GLOBAL CROSS 700SH/FTU-54 HONEYWELL I IOOSH/FTU-54 HONEYWELL 150SH/FTU-54 HONEYWELL 250SWFTU-54 IBM 100 SHS-1/FTU-54 IBM 100 SHS-2/FTU-54 IBM 150SH/FTU-54 IBM 50 SHS/FTU-54 IBM 75-1 SH/FTU-54 IBM 75-2SH/FTU-54 IBM 75-3SHIFTU-54 INTEL CORP 200SH/FTU-54 INTEL CORP 300SH/FTU-54 INTEL CORP 344SH/FTU-54 JOHN & JOHN 100SH-2/FTU-54 JOHN & JOHN 100SH-3/FTU-54 JOHN & JOHN 100SH-4/FTU-54 JOHN & JOHN 100SH-5/FTU-54 JOHN & JOHN 15 0 SH- 1 /FTU- 54 JOHN & JOHN 150SH-2/FTU-54 JOHN & JOHN 175SH/FTU-54 JOHN & JOHN 50SHIFTU-54 JOHN & JOHN 75SH/FTU-54 LINEAR TECHN 3 OOSH/FTU-54 LINEAR TECHN 400SH/FTU-54 LUCENT TECH 1000SH/FTU-54 LUCENT TECH 163 SH/FTU-54 LUCENT TECH 300SHIFTU-54 LUCENT TECH 637SH/FTU-54 LUCENT TECH 63SH/FTU-54 LUCENT TECH 837SH/FTU-54 MEDTRONIC 300SH/FTU-54 MEDTRONIC 700SH/FTU-54 MELLON FIN 1250SH/FTU-54 MERCK 100-1 SH/FTU-54 MERCK 100-2SH)FTU-54 MERCK 100-3HH/FTU-54 MERCK 100.4SH/FTU-54 MERCK 100-5SH/FTU-54 Page 6 Balance 10,923.00 21,846.00 21,846.00 7,282.00 7,282.00 339.00 791.00 32,505.00 4,432.50 7,387.50 21,6.14.00 10,807.00 16,210.50 10,807.00 16,210.50 16,210.50 16,210.50 4,884.00 12,503.04 16,800.96 11,582.00 11,582.00 11,582.00 11,582.00 17,373.00 17,373.00 20,268.50 5,791.00 8,686.50 11,640.00 27,160.00 6,700.00 1,092.10 2,010.00 4,267.90 422.10 2,257.90 12,090.00 28,210.00 42,000.00 12,762.00 12,762.00 12,762.00 6,381.00 6,381.00 November 26, 2001 LAY-G32 1744 -BF002-00877 ============= Page 12 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 MERCK 50 SHS/FTU-54 MERRILL LYNCH 100-1/FTU-54 MERRILL LYNCH 100-2/FTU-54 MERRILL LYNCH 300SH/FTU-54 MERRILL LYNCH 50-1/FTU-54 MICROSFT 100SH-4/FTU-54 MICROSFT 100SH-5/FTU-54 MICROSFT 100SH-6/FTU-54 MICROSFT 100SH-7/FTU-54 MICROSFT 125SH/FTU-54 MICROSFT 500SH/FTU-54 MICROSFT 75SH/FTU-54 MOLEX INC 200SHIFTU-54 MOLEX INC 300-1 SHIFTU-54 MOLEX INC 300-2SH/FTU-54 MOLEX INC 600-1 SHIFTU-54 MOLEX INC 600-2SH/FTU-54 MORGAN STANL 100-1/FTU-54 MORGAN STANL 100-2/FTU-54 MORGAN STANL 100-3/FTU-54 MORGAN STANL 200SH/FTU-54 NOKIA CORP 200SH-1/FTU-54 NOKIA CORP 200SH-2/FTU-54 NOKIA CORP 300SH-1/FTU-54 NOKIA CORP 300SH-2/FTU-54 NOKIA CORP 325SH/FTU-54 PEPISCO 150 SHS-1/FTU-54 PEPISCO 150 SHS-2/FTU-54 PEPISCO 200SH-2/FTU-54 PEPISCO 200SH-3/FTU-54 PEPISCO 200SH-4/FTU-54 PEPISCO 300SH-2/FTU-54 PEPISCO 500SH/FTU-54 PEPSICO 200 SHS/FTU-54 PEPSICO 300 SH-1/FTU-54 PFIZER 100SH-1/FTU-54 PFIZER 100SH-2JFTU-54 PFIZER 4125 SH/FTU-54 PROCT & GAM 100SH-1IFTU-54 PROCT & GAM 100SH-2IFTU-54 PROCT & GAM 100SH-3/FTU-54 PROCT & GAM 100SH-4/FTU-54 PROCT & GAM 150SH/FTU-54 PROCT & GAM 200SH/FTU-54 PROCT & GAMB 50SH/FTU-54 Page 7 Balance 6,381.00 8,742.00 4,371.00 26,226.00 4,371.00 5,815.00 5,815.00 5,815.00 5,815.00 7,268.75 29,075.00 4,361.25 6,212.50 9,318.75 9,318.75 18,63 7.50 18, 63 7.50 9,784.00 9,784.00 9,784.00 19,568.00 4,102.00 4,102.00 6,153.00 6,153.00 26,663.00 7,306.50 7,306.50 9,742.00 9,742.00 9,742.00 14, 613.00 24,355.00 9,742.00 14,613.00 3,142.50 12,570.00 172,837.50 7,378.00 7,378.00 7,378.00 7,378.00 11,067.00 14,756.00 3,689.00 November 26, 2001 LAY-G32 1745 -BF002-00878 ============= Page 13 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 ROYAL DUTCH 100SH-1/FTU-54 ROYAL DUTCH 100SH-21FTU-54 ROYAL DUTCH 125SH/FTU-54 ROYAL DUTCH 150SH/FTU-54 ROYAL DUTCH 500SH/FTU-54 ROYAL DUTCH 50SHIFTU-54 SBC COMM 101 SH/FTU-54 SBC COMM 999SH/FTU-54 TARGET CORP 100SH/FTU-54 TARGET CORP 200SH-2/FTU-54 TARGET CORP 200SH/FTU-54 TARGET CORP 400SH/FTU-54 TEXACO 100 SHS-1/FTU-54 TEXACO 100 SHS-2IFTU-54 TEXACO 100 SHS-3/FTU-54 TEXACO 100 SHS-4/FTU-54 TEXACO 150SH/FTU-54 TEXACO 200 SHS/FTU-54 TEXACO 300 SHS/FTU-54 TEXACO 50SH/FTU-54 TX INSTR 100SH-1/FTU-54 TX INSTR 100SH-2/FTU-54 TX INSTR 150SH-1/FTU-54 TX INSTR 150SH-2/FTU-54 TX INSTR 300SH-1/FTU-54 TX INSTR 300SH-2/FTU-54 TX INSTR 50SH-1/FTU-54 TX INSTR 50SH-2/FTU-54 TX INSTR 50SH-3/FTU-54 TX INSTR 75SH/FTU-54 VERIZON COM 122SH-1/FTU-54 VERIZON COM 122SH-2IFTU-54 VERIZON COM 122SH-3/FTU-54 VERIZON COM 129SH/FTU-54 VERIZON COM 305SH/FTU-54 VERIZON COMM I00SH/FTU-54 VIA COM INC 3 00 SH/FTU- 54 VIACOM INC 700SH-1/FTU-54 VIACOM INC 700SH-2/FTU-54 WALMART 100 SHS/FTU-54 WALMART 150 SHS-1/FTU-54 WALMART 150 SHS-2/FTU-54 WALMART 150 SHS-3/FTU-54 WALMART 200 SHS-1/FTU-54 WALMART 200 SHS-2/FTU-54 Page 8 Balance 5,051.00 5,051.00 6,313.75 7,576.50 23,992.25 2,525.50 38.11 38,071.89 6,23 0.00 12,460.00 12,460.00 24,920.00 6,818.35 6,818.35 6,818.35 6,818.35 10,227.53 13,636.70 20,455.05 3,409.18 11,196.00 5,598.00 8,397.00 4,198.50 8,397.00 8,397.00 5,598.00 5,598.00 5,598.00 4,19 8.50 6,076.82 6,076.82 6,076.82 6,425.49 15,192.05 4,981.00 10,953.00 25,557.00 25,557.00 5,140.00 15,420.00 7,710.00 7,710.00 10,280.00 10,280.00 November 26, 2001 LAY-G32 1746 _BF002-00879 ============= Page 14 of 20 ============= November 26, 2001 Kenneth L. & Linda P. Lav BALANCE SHEET ANALYSIS As of: October 31, 2001 Balance XILINX 100 SHS/FTU-54 6,084.00 XILINX 200 SHS-1/FTU-54 24,336.00 XILINX 200 SHS-2/FTU-54 12,168.00 XILINX 300 SHS/FTU-54 3,042.00 MINX 50 SHS/FTU-54 6,084.00 Total Cypress Asset Mgmt.-Com: 2,827,167.6 Paine Webber Core Hold.: CELESTICA 500SHIFTLJ-60 17,165.00 Total Paine Webber Core Hold.: 17,165.00 Vested Exec Stock Options: CPQ ESO 4-97 4370SH 3,190.10 Total Vested Exec Stock Options: 3,190.10 TOTAL MARKETABLE INVESTMENTS 10,966,81 1.83 LONG-TERM INVESTMENTS Residence: REAL ESTATE/HUNTINGDON 10,156,723.27 Total Residence: 10,156,723.27 Real Estate Other Homes: PIRATES' COVE LOTS 299,742.66 REAL ESTATE/2514 AVALON 288,433.94 REAL ESTATE/ASPENI 2,869,323.52 REAL ESTATE/ASPEN2 5,665,823.97 REAL ESTATE/ASPEN3 6,258,044.41 REAL ESTATE/ASPEN4 1,771,985.27 REAL ESTATE/B-3429 770,503.39 REAL ESTATE/B-3431 759,970.73 REAL ESTATE/B-3433 880,881.97 REAL ESTATE/REBA 492,639.61 REAL ESTATE/WESTGATE 284,873.38 Total Real Estate Other Homes: 20,342,222.85 Real Estate Active Rental: REAL ESTATE/1741SR 147,309.00 REAL ESTATE/1852MAR 104,044.97 REAL ESTATEJ1856MAR 173,048.67 REAL ESTATE/1918SR 243,875.17 REAL ESTATE/2403 AVALON 944,179.00 REAL ESTATE/KINGS 190,000.00 REAL ESTATE/MEXICO MO 240,026.00 REAL ESTATE/VIKING 61,008.00 Total Real Estate Active Rental: 2,103,490.81 Page 9 LAY-G32 1747 _BF002-00880 ============= Page 15 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 Real Estate Partnerships: Balance BLENHEIM APARTS, LTD. 175,412.00 CREEKSTONE SOUTH RICE PTRS 266,115.00 CREEKSTONE WALNUT LP 748,409.00 DYMAXION APARTMENTS, LTD 21,943.00 HAINES APARTMENTS, LTD. 100,000.00 J.T.FAM,SR. INVEST., LTD. 526,650.00 JESTER APTS PARTNERS,LTD 652,654.00 LAKE CHARLES APTS., LTD. 176,023.00 MILAND INVESTMENTS LLC 569,455.08 NOLANA, LTD. 186,000.00 RESACA DE LAS PALMAS 240,000.00 SAJG KIRBY BRAESWOOD 180,000.00 TRAILSIDE APTS, LTD. 486,208.00 W.A.REHAUSENLOT INV LTD 123,578.00 W.E. TRADE INVESTMENTS LTD 317,714.00 Total Real Estate Partnerships: 4,770,161.08 Farming Interests: 1IACRES ILLINOIS 4,500.00 Total Farming Interests: 4,500.00 Privately-Held Stock, ACOUSTIC TECH 100,000 SH-B AMER EQ LIFE 2500/SMH-JT AMER EQ LIFE HLDG/SMH-JT COUNTRYWATCH.COM DR RED DUKE INC 52,632 SHS ECOUTLOOK COM SERIES B ECOUTLOOK COM SERIES C ETERNITV, INC. 1,500 SH-A ETERNITV, INC. NOTE EVELOCITY CORP 1000000 P-B EVELOCITY CORP 150,000 P-B EVELOCITY CORP 18345.2 P-B EVELOCITY CORP 300,000 P-B EVELOCITY CORP 850,000 P-B FLASHFIND CORP 150,000 P-B FLASHFIND CORP NOTE 3/01 FLASHFIND CORP NOTE 5/01 FLAS HFIND CORPORATION HOSTCENTRIC 54,347 SH-B INDX SOFTWARE 18588/SMH-JT LOMBARDI SOFT 7500S/SMH-JT 210,000.00 39,975.00 199,875.00 250,000.00 100,000.80 200,000.00 299,999.57 150,000.00 37,500.00 500,000.00 75,000.00 18,345.20 300,000.00 850,000.00 112,500.00 75,000.00 75,000.00 250,000.00 249,996.20 50,001.72 75,000.00 November 26, 2001 Page 10 LAY-G32 17 48 LBF002-00881 ============= Page 16 of 20 ============= November 26, 20W Kenneth L. & Linda P. Lav BALANCE SHEET ANALYSIS As of: October 31, 2001 Balance MRS. FIELDS HOLDING CO. 81,000.00 NETVERSANT 125,000/SMH-JT 500,000.00 OLD BALDY CORP 250 SHS 28,360.00 OLD BALDY CORP 33 SHS 12,000.00 PHOTOFETE.COM CONVERT NOTE 123,103.12 QUESTIA MEDIA 12,295SH 40,327.60 QUE STIA MEDIA 12,82 1 S H 42,052.88 QUESTIA MEDIA 1294297SH-B 4,245,294.16 QUESTIA MEDIA 558,306 SH-A 1,831,243.68 QUESTIA MEDIA 647,148SH-C 2,122,645.44 RED SKY INT 2,000SH/SMH-JT 50,000.00 SMH AGENCY 20-A/SHM-JT 18,000.00 Total Privately-Held Stock: 13,212,220.37 Corporate Bond-Convertible EARTHCARE CO 1534SH/SMH-JT EARTHCARE CO I SH-2/SMH-JT EARTHCARE CO 1SH/SMH-JT EARTHCARE CO 2531SH/SMH-JT EARTHCARE CO 2594SH/SMH-JT EARTHCARE CO 2688SH/SMH-JT EARTHCARE CO 2756SH/SMH-JT EARTHCARE CO 2794SH/SMH-JT EARTHCARE CO 2833/SMH-JT EARTHCARE CO 2967/SMH-JT EARTHCARE CO DEB/SMH-JT LAKEWOOD SPORT CONV/SMH-JT LAKEWOOD SPORT-1/SMH-JT LAKEWOOD S PRT CONV2/SMH-JT Total Corporate Bond-Convertible 1,534.00 1.00 1.00 2,531.00 2,594.00 2,688.00 2,756.00 2,794.00 2,83 3.00 2,967.00 100,000.00 5 2,25 0.00 52,250.00 30,041.00 255,240.00 GS 1999 Exchange Funds: GS 1999 EXCH FND/GS-61 4,545,109.31 Total GS 1999 Exchange Funds: 4,545,109.31 Family Partnerships: KLL & LPL FAMILY PTRNS 685,323.00 KLL & LPL INVESTMENT PTRNS 3,821,676.00 Total Family Partnerships: 4,506,999.00 Other Investments: BBT PARTNERS, L.P. 250,000.00 BROADWING, LLC 162,331.00 CAPRICORN INVESTORS II LP 510,441.00 CAPRICORN INVESTORS III 378,855.00 Page 11 LAY-G32 1749 LBF002-00882 ============= Page 17 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 Balance CARSON PRIV CAP EUROPE LP 1,254,212.00 CHAMPION L.L.C/SMH-JT 96,812.00 CHASE CAP PTRS PRV FUND 2,238,950.65 CORPORATE OPPT FUND/SMH-JT 339,000.00 CPC YELL, L.P. 250,000.00 ENVIR OPP 500,000S1/SMH-JT 213,000.00 ENVIRON OPP FUND 1I/SMH-JT 125,200.00 GENESIS PARK LP 95,878.00 HOUSTON NFL HOLDINGS 2.5% 3,993,705.00 LAZARD TECH PTRS II LP 381,360.00 LOMBARDI LLC/SMH-JT 40,832.50 MURPHREE VENTURE PTRS LP 120,610.00 MV PARTNERS 250,000.00 MV PTRNS-CYBER DIALOGUE 346,478.00 SANDERS OPPORT FUND/SMH-JT 940,744.87 SMH CERI, LLC/SMH 70,000.00 SMH INDX LLC/SMH-JT 10,928.60 SMH LIFE SCIENCES/SMH-JT 125,000.00 STERLING GROUP I LP 415,015.85 TACONIC CAPITAL PTRS LP 2,722,705.00 TCW WESTBRIDGE VENTURES 271,435.00 VANGUARD VII LP 853,938.00 WESTTX ASSOCIATES, LP 34,500.00 Total Other Investments: 16,491,932.47 TOTAL LONG-TERM INVESTMENTS 76,388,599.16 RETIREMENT/DEFERRED ASSETS IRA; FIRST UNION-IRA/LLL-FTU 41,597.94 Total IRA 41,59 7.94 IRA/Spouse: FIRST UNION-IRA/LPL-FTU 41,632.16 Total IRA/Spouse: 41,632.16 Retirement Plan: ENRON RO-IRA/FTU-56 1,134,476.30 ENRON ESOP 1,686.63 ENRON SAV RO MMA/FTU-56 85,287.94 ENRON SAVINGS 401K 265,369.00 ENRON-RETIREMENT 4,220,212.93 FID GROWTH CO 401(K)/KLL 17,067.00 FID MAGELLAN 401(K}iKLL 51,344.00 FID OTC 401(K)/KLL 9,202.00 FID OVERSEAS 401(K)/KLL 18,991.00 Page 12 November 26, 2001 LAY-G32 1750 LBF002-00883 ============= Page 18 of 20 ============= November 26, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 Balance KEOGH MMA/PW-18 2,342.90 KEOGH MUNDER TECH/PW-18 118,524.43 Total Retirement Plan: 5,924,504.13 Deferred Compensat'n Plan: ELI LILLY DEFERRED COMP 1,370,413.04 ENRON DEFERRED COMP-85 3,737,057.12 ENRON DEFERRED COMP-94 1,256,391.00 ENRON PHANTOM STOCK DEF 7,205,350.00 HNG PLAN-85 83,604.00 TCW DEFERRED COMP 27,617.34 Total Deferred Compensat'n Plan: 13,680,432.50 TOTAL RETIREMENT/DEFERRED ASSETS 19,688,166.73 PERS ONAL/NON-EARNING ASSET Automobile(s): 00 MERCEDES G500 LWB 149,176.18 00 MERCEDES ML55 73,348.19 00 RED JEEP WRANGLER 20,400.00 00 SILVER JEEP WRANGLER 20,400.00 00 YELLOW JEEP WRANGLER 20,400.00 01 GMC DENALI 48,272.40 01 GRAND CHEROKEE 37,801.28 92 4WD JEEP CHEROKEE 7,400.00 93 MERCEDES 600SL 40,000.00 95 LT SUBURBAN CHEVY 13,000.00 96 RANGE ROVER 30,000.00 97 SUBURBAN CHEVY 15,280.15 Total Automobile(s): 475,478.20 Home Furnishings: HOME FURNISH/2514AVALON HOME FURNISHINGS/ASPEN1 HOME FURNISHINGS/ASPEN2 HOME FURNISHINGS/ASPENS HOME FURNISHINGS/B-3429 HOME FURNISHINGS/B-3431 HOME FURNISHINGSB-3433 HOME FURNISHINGS/HUNT Total Home Furnishings: 1,536.28 13 8,984.11 264,641.69 553.86 80,833.15 196,815.63 106,522.74 2,222,786.48 3,012,673.94 Other Vehicles & Equip: BW 21' OUTRAGE BOAT 49,327.00 DUFFY 18'-I 19,098.00 DUFFY 18'-11 19,098.00 LAY-G32 1751 Page 13 .BF002-00884 ============= Page 19 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 Balance HURRICANE 19' 22,695.14 SPIRIT CANOE 406.43 SUPER SPORT BOAT 1997 33,502.74 Total Other Vehicles & Equip: 144,127.31 TOTAL PERSONAL/NON-EARNING ASSET 3,632,279.45 TOTAL ASSETS 121,025,305.32 LIABILITIES CURRENT LIABILITIES Notes Payable: ACCT PAYABLE (ST)-ENRON 100,742.62 COMPASS BANK LOC 789,871.12 ENRON CORP. LOAN 4,975,000.00 PAINE WEBB ER-LO C/PW-42 0.02 Total Notes Payable: 5,865,613.76 Security Deposits: SEC DEPOSIT/Z-1856MAR 125.00 SEC DEPOSIT/Z-1918SR 850.20 SEC DEPOSIT/Z-MCDUF 393.98 Total Security Deposits: 1,369.18 Margin Acct Liability: FIRST UNION MARGIN/FTU-52 1,184,212.01 Total Margin Acct Liability: 1,184,212.01 TOTAL CURRENT LIABILITIES 7,051,194.95 LONG-TERM LIABILITIES Home Mortgage: BANK OF AMER/HUNT #2 LIEN 485,636.75 BANK OF AMER/HUNT #3 LIEN 486,924.55 BANK OF AMER/HUNTINGDON 4,323,182.20 Total Home Mortgage: 5,295,743.50 Other Real Estate Mtge: BANK OF AM/ASPEN2 4,239,352.70 BANK OF AM/ASPEN3 5,464,352.60 BANK OF AMER/2403AVALON 833,690.30 BANK OF AMER/2514 AVALON 225,000.00 BANK OF AMER/ASPENI 1,488,695.66 BANK OF AMER/ASPEN4 1,200,000.00 BANK OF AMERB-3429 235,227.52 BANK OF AMER/B-3433 519,766.30 BANK OF AMER/REBA 315,304.03 November 26, 2001 Page 14 LAY-G32 1752 -BF002-00885 ============= Page 20 of 20 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: October 31, 2001 Balance CITICORP MORTGAGE/B-3431 168,357.71 Total Other Real Estate Mtge: 14,689,746.82 Investment Liabilities: BANK OF AMER/GALV LOTS 88,824.87 BANK OF AMER/WESTGATE LOT 191,250.00 BK OF AM/CREDIT FACILITY 3,000,000.00 Total Investment Liabilities: 3,280,074.87 Deferred Tax Liabilities: DEF TAX LIAB-STK OPT ONLY Total Deferred Tax Liabilities: TOTAL LONG-TERM LIABILITIES BUSINESS LIABILITIES Employer Taxes/Bus: FIT WITHHELD-EE (TX) FIT WITHHELD-LPL EE(TX) MEDIC WITHHELD-LPL EE(TX) MEDIC WITHHELD-EE (TX) SIT WITHHELD-EE (HH-CO) SOC SEC WITHHELD-EE (TX) SOC SEC WITHHELD-LPL (EE) Total Employer Taxes/Bus: Accrue Social Sec Tax/Bus: MEDIC PAYABLE-ER (TX) MEDIC PAYABLE-LPL ER(TX) SOC SEC PAYABLE-ER (TX) SOC SEC PAYABLE-LPL ER(TX) Total Accrue Social Sec Tax/Bus: TOTAL BUSINESS LIABILITIES TOTAL LIABILITIES NET WORTH TOTAL NET WORTH TOTAL LIABILITIES AND NET WORTH Page 15 24,076.00 24,076.00 23,289,641.19 66,993.86 5,643.00 631.37 7,991.76 354.00 23,371.98 2,699.52 107,685.49 7,989.89 631.37 23,371.98 2,699.52 34,692.76 142,378.25 30,483,214.39 90,542,090.93 121,025,305.32 November 26, 2001. LAY-C-32 1753 `002-00886