1. Putting the Energy into e-commerce™

2. © 2001 Enron Corp. All Rights Reserved 2 The Free, Internet-based, Global Transaction System Which Allows Counterparties to View Real Time Prices From Enron’s Traders and Transact Instantly Online What is EnronOnline?

3. © 2001 Enron Corp. All Rights Reserved 3 Benefits of EnronOnline Free of ChargeFree of Charge Enron’s Best PricesEnron’s Best Prices Real-Time Pricing InformationReal-Time Pricing Information Faster than Traditional ChannelsFaster than Traditional Channels Access to Complementary Markets and Product InformationAccess to Complementary Markets and Product Information Simple Access via the InternetSimple Access via the Internet Easy to UseEasy to Use

4. © 2001 Enron Corp. All Rights Reserved 4 Benefits of EnronOnline Secure ExecutionSecure Execution Market News and QuotesMarket News and Quotes Price Limit OrdersPrice Limit Orders OptionsOptions Industry PublicationsIndustry Publications Weather InsightsWeather Insights Advance CustomizationAdvance Customization Floating WindowsFloating Windows

5. © 2001 Enron Corp. All Rights Reserved 5 Markets Available on EnronOnline Commodity Types Argentine Natural GasArgentine Natural Gas Asian Crude & ProductsAsian Crude & Products Asian MetalsAsian Metals Australian & Japanese WeatherAustralian & Japanese Weather Australian PowerAustralian Power Austrian PowerAustrian Power BandwidthBandwidth Belgian Natural GasBelgian Natural Gas Canadian Natural GasCanadian Natural Gas Canadian PowerCanadian Power Credit DerivativesCredit Derivatives Dutch PowerDutch Power Dutch AluminiumDutch Aluminium EmissionsEmissions Swiss PowerSwiss Power UK MetalsUK Metals UK Metal SpreadsUK Metal Spreads UK Natural GasUK Natural Gas UK PowerUK Power US Gas Pipeline CapacityUS Gas Pipeline Capacity US Gas SpreadsUS Gas Spreads US LumberUS Lumber US MetalsUS Metals US Natural GasUS Natural Gas US PowerUS Power US SteelUS Steel US WeatherUS Weather European CoalEuropean Coal European WeatherEuropean Weather German PowerGerman Power International CoalInternational Coal Japanese AluminumJapanese Aluminum LME Metals ContractsLME Metals Contracts LPGLPG Nordic PowerNordic Power Oil & Refined ProductsOil & Refined Products PetrochemicalsPetrochemicals PlasticsPlastics Pulp & PaperPulp & Paper Sea FreightSea Freight Spanish PowerSpanish Power

6. © 2001 Enron Corp. All Rights Reserved 6 Markets Available on EnronOnline Auctions Emissions Auctions (US)Emissions Auctions (US) EnBank Virtual Storage Auction (UK)EnBank Virtual Storage Auction (UK) Pipeline Capacity AuctionPipeline Capacity AuctionOptions Continental Power OptionsContinental Power Options Nuclear Outage Knock-In Call OptionsNuclear Outage Knock-In Call Options Nordic Power OptionsNordic Power Options UK & US Gas OptionsUK & US Gas Options

7. © 2001 Enron Corp. All Rights Reserved 7 EnronOnline Prices on Other Electronic Trading Systems Increase general customer access to Enron by providing additional transaction channelsIncrease general customer access to Enron by providing additional transaction channels Give Enron access to customers who prefer to transact via multilateral platformsGive Enron access to customers who prefer to transact via multilateral platforms Leverage the proven technology, liquidity and Enron resources that together provide superior services to all Enron customersLeverage the proven technology, liquidity and Enron resources that together provide superior services to all Enron customers

8. © 2001 Enron Corp. All Rights Reserved 8www.EnronOnline.com

9. 9 EnronOnline Features Valuable Transaction Functionality 1400 Products Available (bids and offers) Instantaneous Pricing Options Limit Orders Spreads 24 x 7, 365 days a year Attractive Features Specialized Access and Content Customers Choose From 40 Different Entry Methods (eg. www. Weather-Risk.com, www.EnronSteel.com) Dynamically Updated Information Direct from Enron’s Marketers Valuable Transaction Functionality 1400 Products Available (bids and offers) Instantaneous Pricing Options Limit Orders Spreads 24 x 7, 365 days a year Attractive Features Specialized Access and Content Customers Choose From 40 Different Entry Methods (eg. www. Weather-Risk.com, www.EnronSteel.com) Dynamically Updated Information Direct from Enron’s Marketers

10. © 2001 Enron Corp. All Rights Reserved 10Options

11. © 2001 Enron Corp. All Rights Reserved 11 Customized Information CommodityContent Customize your products and information according to your interests.

12. © 2001 Enron Corp. All Rights Reserved 12 Customize by: CountryCountry CommodityCommodity RegionRegion CurrencyCurrency Location/IndexLocation/Index Product CategoryProduct Category Deal TypeDeal Type Customize Your Quotes

13. © 2001 Enron Corp. All Rights Reserved 13 Customize Your Content

14. © 2001 Enron Corp. All Rights Reserved 14 Customize Your Weather

15. © 2001 Enron Corp. All Rights Reserved 15 Weather Maps

16. © 2001 Enron Corp. All Rights Reserved 16 Contract & Description

17. © 2001 Enron Corp. All Rights Reserved 17 Contract & Description

18. © 2001 Enron Corp. All Rights Reserved 18 Contract & Description

19. © 2001 Enron Corp. All Rights Reserved 19 Contract & Description

20. © 2001 Enron Corp. All Rights Reserved 20 Click On Bid Or Offer Price

21. © 2001 Enron Corp. All Rights Reserved 21 Click On Bid Or Offer Price

22. © 2001 Enron Corp. All Rights Reserved 22 Submission Screen

23. © 2001 Enron Corp. All Rights Reserved 23 Successful Transaction

24. © 2001 Enron Corp. All Rights Reserved 24 4.14 Click On Bid Or Offer Price - Limit Orders

25. © 2001 Enron Corp. All Rights Reserved 25 Submission Screen

26. © 2001 Enron Corp. All Rights Reserved 26 Successful Transaction

27. © 2001 Enron Corp. All Rights Reserved 27 Successful Transaction 4.20  05:06:02 4.21

28. © 2001 Enron Corp. All Rights Reserved 28 EnronOnline Statistics Total Life to Date Transactions > 890,000Total Life to Date Transactions > 890,000 Average Daily Transactions > 4,500Average Daily Transactions > 4,500 Life to Date Notional Value of Transactions > $520 billionLife to Date Notional Value of Transactions > $520 billion Daily Notional Value Approximately $2.5 billionDaily Notional Value Approximately $2.5 billion Number of Products Offered: Approximately 1,400Number of Products Offered: Approximately 1,400 Number of Currencies Traded in = 13Number of Currencies Traded in = 13 EnronOnline Version 1.0 Launch Date: November 29, 1999EnronOnline Version 1.0 Launch Date: November 29, 1999 EnronOnline Version 2.0 Launch Date: September 18, 2000EnronOnline Version 2.0 Launch Date: September 18, 2000

29. © 2001 Enron Corp. All Rights Reserved 29 Traditional Channels EnronOnline Utilization of EnronOnline EnronOnline Transactions as a % of Total Transactions *The percentage of transactions on EnronOnline declined in 3Q00 due to the purchase of MG Metals.

30. © 2001 Enron Corp. All Rights Reserved 30 Daily % (30-day trailing average) Transactions Traditional ChannelsEnronOnline EnronOnline vs. Traditional Channels

31. © 2001 Enron Corp. All Rights Reserved 31 Quarterly Transactions via EnronOnline

32. © 2001 Enron Corp. All Rights Reserved 32 Other e-Commerce Initiatives Pulp, Paper & LumberPulp, Paper & Lumber ClickPaper.comClickPaper.com Credit ProductsCredit Products EnronCredit.comEnronCredit.com Auctions/RFQsAuctions/RFQs M&AsM&As SyndicationsSyndications DealBench.comDealBench.com Settlements and Back OfficeSettlements and Back Office CommodityLogic.comCommodityLogic.com

33. © 2001 Enron Corp. All Rights Reserved 33 Contact Us If you have questions or problems regarding registration or using EnronOnline: Call us: The Americas:Asia and AustraliaAll Other Regions: +1 (713) 853-4357 (HELP)+61 2 9229 2300+44 (0)20 7783 7783 Write us: EnronOnlineEnronOnlineEnronOnline P.O. Box 4656Level 21Enron House 1400 Smith Street9 Castlereagh StreetP.O.Box 29173 Houston, TX 77002Sydney NSW 2000London SW1X 7WB USAAustraliaUK E-Mail us at help@enrononline.com