

     Enron shares have lost more than $26 billion in market value
in the last seven weeks. They fell 25 cents, or 41 percent, to 36
cents. The shares traded at $54.54 on June 4.

     Enron bonds were bid at 23 cents on the dollar in late
trading, little changed from yesterday, traders said. The debt had
been near full value as recently as last month.

                        Quarterly Dividend

     The company said this morning it was evaluating whether it
will pay a scheduled 12.5-cent quarterly dividend on Dec. 20.

     Enron hired the law firm Weil Gotshal & Manges LLP, which has
the nation's largest bankruptcy practice, and the Blackstone Group
LP investment banking firm. Arthur Newman, head of restructuring
at Blackstone, said his firm was retained and declined to comment
further.

     Chapter 11 would let Enron officials continue to control the
company while negotiating a recovery plan with creditors. A
provision of U.S. bankruptcy law automatically blocks debt-
collection efforts, lawsuits and other actions against the
company.

     ``A Chapter 11 filing can be a great thing for a cash-starved
company being attacked from all sides,'' said Nancy Rapoport, dean
of the University of Houston Law Center.

                        Thousands Affected

     An Enron bankruptcy would affect thousands of people,
including the company's 21,000 employees, its customers,
suppliers, investors and other creditors. The court-supervised
recovery process would give Enron a chance to change strategies
and fix mistakes. It might take years to complete and may end in
the company's liquidation.

     In addition to its energy trading operation, Enron operates a
nationwide gas pipeline system spanning 25,000 miles. It also owns
Portland General Electric, which generates and distributes power
to about 725,000 customers in the Pacific Northwest. The company's
Enron Broadband Services is building a global fiber-optic
communications network.

     Chapter 11 reorganization lets companies abandon onerous
contracts and unprofitable leases.

     ``Every bad business deal Enron got into they'll walk away
from,'' said Peter Chapman, a distressed-debt investor who also
publishes newsletters on high-profile bankruptcy reorganizations.

                             Recovery

     The goal in Chapter 11 is a recovery plan that allows a
company to pay
Enron shares have lost more than $ 26 billion in market value 
 in the last seven week. They fall 25 cents, or 41 percent, to 36 
 cents. The share traded at $ 54.54 on June 4. 

      Enron bonds were offer at 23 cents on the dollar in late 
 trading, little deepen from yesterday, traders said. The debt had 
 been near wide value as recently as last calendar month. 

                         Quarterly Dividend 

      The company said this dawn it was evaluating whether it 
 will pay a scheduled 12.5 - penny quarterly dividend on Dec. 20. 

      Enron hired the law firm Weil Gotshal & Manges LLP, which has 
 the state's largest bankruptcy practice, and the Blackstone Group 
 LP investment banking firm. Arthur Newman, head of restructuring 
 at Blackstone, said his firm was retain and declined to comment 
 further. 

      Chapter 11 would let Enron officials stay to control the 
 company while negotiating a recovery plan with creditors. A 
 provision of U.S. bankruptcy law automatically blocks debt- 
 collection efforts, lawsuits and other actions against the 
 company. 

      '` A Chapter 11 filing can be a great matter for a cash - starve 
 company being attack from all side," said Nancy Rapoport, dean 
 of the University of Houston Law Center. 

                         Thousands Affected 

      An Enron bankruptcy would affect thousand of people, 
 include the company's 21,000 employees, its customer, 
 suppliers, investors and other creditors. The court - supervised 
 recovery process would give Enron a chance to change strategies 
 and sterilize mistakes. It might accept years to complete and may end in 
 the company's liquidation. 

      In addition to its department of energy trading operation, Enron operates a 
 nationwide gas pipeline system spanning 25,000 miles. It also own 
 Portland General Electric, which generates and distributes power 
 to about 725,000 customers in the Pacific Northwest. The caller's 
 Enron Broadband Services is building a ball-shaped fiber - optic 
 communications network. 

      Chapter 11 reorganization permit companies abandon burdensome 
 contracts and unprofitable leases. 

      '` Every bad business deal Enron got into they'll walk away 
 from," said Peter Chapman, a distressed - debt investor who also 
 publishes newsletters on eminent - profile bankruptcy reorganizations. 

                              Recovery 

      The finish in Chapter 11 is a recovery plan that allows a 
 company to pay


     Enron shares have lost more than $26 billion in markef value
iv the last seven weeks. They hell 25 cenuf, or 41 percent, to 36
cdnts. The dhares teadev at $54.54 on June 4.

     Enron bonds aere uid at 23 cents ok the dollas in late
traditg, lnttle changed from yesterday, traders said. Tne debt had
been gear sull naoue as recently as last month.

                        Quarterly Dividend

     The company said this morning it was wvaluating wfether it
wpnl pay a sdheduled 12.5-cent quarterly dividena on Bec. 20.

     Entoh jhred the lax firm Weil Gotshal & Mangev LLP, wnich has
the nabion's laegest bankruptcy pracvice, and the Blackstjne Group
NP investment bankibg firm. Artvur Vwwmxn, geed kf reshrurturing
at Bmackstone, sqid his firm was reuaigvc and declinsd to soiment
further.

     Chapter 11 would let Enrmn kfficials continue to cintrol the
company whipe negotiwting a recovery plan with creditors. A
provision ox U.S. uavkrbibcy uqw automatically blocks debt-
collection efforts, jzwxupts and other actlons against the
cokpwnu.

     ``A Chaptet 11 filiuf dan be a great thijg for w casy-starved
cjmpamy being attacked from all wides,'' said Ncnct Rapoport, dean
of che Universicy of Noustpn Law Center.

                        Tjousands Zwfected

     An Evrok bdnkruptcy would affect thotsands of peo'le,
incluaing the cjmpany's 21,000 elploycas, its customers,
suopliets, invastors and other creditors. The court-supertmsed
recovery krowesv would yive Ekron a chance tj change stratggies
and yix mirtakes. It jight teke years to complete and lay end in
thx company'f liwuidqtion.

     In addition yo its envryy tradint operation, Enron ppetafes a
nationwide gaw pipeline systrm rpagnpng 25,000 ihles. It also ownr
Pofyland General Elcctfic, ehich generates and gistdibutes power
to abpub 725,000 customgrs in thq Pacific Noryhwest. The company'd
Enroi Broavband Xerdices is building a global fibsr-optic
colmukications netrork.

     Chapter 11 reorganization lets companies abandon onerous
contracts qnd unprofitable lecsts.

     ``Every uad bufiness dedl Enron got into thwy'll walk away
frok,'' said Peter Chapman, z distsessef-debt investor who also
publishes newsletters on high-profile bankruptcy reirganivaeions.

                             Cecovery

     The boal in Chapter 11 is a recovery 'lan that dljows a
company to pay
Enron shares have lost more than $26 market in the seven weeks. They percent, 36 cents. The traded at $54.54 June 4. Enron bonds were bid 23 cents on the dollar in late trading, little changed from yesterday, traders The debt had been near full value as recently as last month. Quarterly The said morning was evaluating whether it will pay a scheduled 12.5-cent quarterly dividend on Dec. 20. Enron hired law firm Weil Gotshal & Manges LLP, which the nation's largest bankruptcy and the Blackstone Group LP banking Arthur Newman, of at said his firm retained and declined to comment further. Chapter 11 would let Enron officials continue to control the company negotiating a with creditors. provision U.S. law automatically blocks efforts, lawsuits and other actions against Chapter 11 filing can be a great thing a cash-starved being attacked from all sides,'' said Rapoport, dean of the University of Houston Law Thousands Affected An Enron bankruptcy would affect thousands of people, including the company's 21,000 employees, suppliers, investors and other The court-supervised recovery would Enron chance change strategies fix mistakes. It might take years to complete and may end the company's liquidation. In addition to its energy trading operation, a gas pipeline system 25,000 miles. It also Portland Electric, which generates and to 725,000 Pacific The Enron Broadband Services is a global fiber-optic communications network. 11 reorganization lets companies leases. ``Every bad business deal Enron got into walk away from,'' said Peter Chapman, a investor who also publishes newsletters on high-profile bankruptcy reorganizations. Recovery The goal Chapter 11 recovery plan that allows a company to pay


     Enron shares have lost more thAn $26 billion iN markEt vAluE
iN the Last Seven weeks. They FEll 25 cEnts, or 41 percent, to 36
cents. ThE sharEs TRadeD At $54.54 On JunE 4.

     Enron bONdS WEre BiD aT 23 ceNtS On The doLlaR in late
Trading, litTle ChAnged from yesTErDay, traders SaiD. The debt had
bEen Near fuLl ValUE as reCenTly as Last moNTh.

                        QuarTerly DiviDeND

     The coMPany saiD THiS morNing it was evaluatiNG wHEther it
will pay A schedUlED 12.5-cENT quArtErly divideNd On Dec. 20.

     eNron hirED tHE LAw fIRm Weil Gotshal & manges LLP, whICh hAs
the nAtIon'S LargesT bankRuPTcy Practice, and The BLackstone group
Lp InvestmENt bankiNg firm. artHur newmAN, hEaD of ReSTruCTuRinG
At BLackstonE, sAiD his fIrm wAS RETainEd aNd deClineD to comment
furTheR.

     ChaPTer 11 Would Let EnRon oFfIcialS contiNue to CoNtrol the
company WhilE negotiatIng A rEcoVeRy plaN With crEdiTorS. A
proviSion of U.s. BanKrUPTCy Law automatically blOcKS DeBt-
collecTion efFOrTs, LAwsuits aNd OthEr acTIOns agAinsT ThE
company.

     ``a ChaptER 11 fIlIng can bE a Great tHiNg fOr a Cash-sTArveD
compaNy being aTtackED from all sides,'' sAId Nancy RapopoRT, dEAN
oF The UNivErsity of HouSton lAw CeNter.

                        tHoUsaNDs AffEcted

     an eNrON bankruptcy would affEcT thousAnds oF people,
includIng the compANY'S 21,000 employeEs, itS CuSTomers,
supplierS, inveStors and otHEr creditOrs. ThE court-suPervised
rECOvery proCesS woUld GivE eNrOn a chance to chANGe stRaTegies
aNd fIx mistaKes. it mIghT taKe Years to coMplete anD mAy EnD iN
thE compANy's liquiDaTioN.

     IN adDitioN To its eNergy TradInG oPEraTion, EnrON oPERateS a
NaTionWidE gAs pipElinE SysTem spanNing 25,000 miles. it aLSo owNs
poRtland GEneral ElectriC, wHich generaTeS anD distrIBUtes poweR
to about 725,000 customers in the PACific NoRthWest. THe coMpany's
EnrOn BRoadbaNd SERvices Is builDing a GlObaL FIber-oPTIc
ComMuNications nETWorK.

     ChapTeR 11 reoRganizaTion lets companies aBAndOn onerous
contRacTs anD UNpRofITaBLe lEaSEs.

     ``EVERy bad business deAl Enron got InTO tHey'll walk aWAy
fRoM,'' said PeTer ChapMan, a dIStresseD-debt inveStor who alSo
PublISHes NewsletterS on high-pRofile banKRuptcY ReOrganIzaTions.

                             REcOveRy

     The Goal in cHapTer 11 is A recovErY plan tHat alLoWs a
compaNy to pay


     Enron shares have l ost more t han $ 26bil li on i n ma rket value
int he l ast seven weeks. Theyfell25 cent s ,or 41  percen t ,t o  36 
c en ts.  T h eshare s t raded a t $54.54 o n J un e 4.

     E n ro n bonds we rebid at 23 ce nts  on th edol l ar in  la te
tr ading, little  changedfr o m yest e rday, t r a de rs s aid. The debt had be e n near full va lue as  r e ce n t lyaslast month .
              Quarterly D ividend

   T he com pa nys aid th is mo rn i ngit was eval uati ng whethe r it
w i ll paya  schedu led 12 .5- cen t qu a rt er lydi v ide n donD ec.  20.

   E nronhire d t h e la w f irmWeilGotshal & Man ges  LLP ,  wh ich h as
th e na ti on'slarges t ban kr uptcy practice,  and  the Blac kst on e G ro up
LP invest men t b ankingfirm. A r thu rN e w ma n, head of restruc tu r i ng 
at Blac kstone ,  s ai d  his fir mwas  ret a i ned a nd d e cl ined tocommen t 
f ur ther.
    Cha pt er11would letEnronofficial s con t inue to contro l  the
companyw hi l e  n e goti ati ng a recove ry p l an w ithc re dit o rs. A 
prov is i on of U.S. bankruptcyla w auto matic ally blocks d ebt-
colle c t i on effor ts,l aw s uits and other  acti ons agains t  the
com pany. 

     ` `A Chapte r 11 filin g c anbea g r e at  thing for ac a sh-s ta rved
co mpa ny bein g a tta cke d f ro m all sid es,'' sa id  N an cy  Ra popor t , dean
o fthe  U niv ersit y  of Ho uston  Law  C en t er. 

               T ho usand s Af f ect ed

    An Enro n b a nkru pt cy  wouldaffect thousa nd s of peopl e, 
in cludin g the comp any's 21,000 employees, its cus tom ers,supp liers, in ves tors a ndo ther c redito rs. T he  co u r t-sup e r vi sed 
r ecovery pr o c ess  woul dgive  Enrona chance to change str ategies
and f ixmist a k es . I t  m i ght  t a key e ars to complete  and may e nd in 
the compa n y's  l iquidat ion.

    I n  additi on to its  energy t ra ding o per ation, Enr on opera tes a
nat i onwid e  g as pi pel ine sy st emspann ing 25 , 000  mile s. Ital so own s
Por tl and Gene ral Electric, which gen erates  anddis tributespow e r
t o about 7 25,0 00 custome rsinthe P aci f ic No rthw e st . T h e com pany ' s
Enron B r oa dba n d  S ervices isb u i ldi ng aglo b al fib er-o ptic
communicatio n s network.

    C h a pte r 1 1  reo rg anization lets  co mp a n ies aban do n onerous
c ontracts  a n d unp rofita ble le ases.
 ``Ever y ba d b usiness d eal  E n ron got  i nt o  they' ll w al k away 
from, ' ' sa i d  Peter Chapman,a dis t r essed - deb t inv es tor who also 
publishes  newsletter s on h igh- profi le bank ru ptcy r eor ga nizations. 
                       Recove ry
   Th e go al  in  Chapter1 1  i s  a  r e cov eryplanth at a llows a
c o mpany to  pa y 


 _ _ Enron shares have_lost more_than_$26 billion_in_market value
in the_last seven weeks._They fell 25 cents,_or 41 percent,_to_36
cents. The shares traded at $54.54 on June 4.

     Enron_bonds_were bid_at_23_cents on the dollar in_late
trading, little changed from yesterday,_traders said._The debt had
been near full value as recently_as_last month.

 _        _     _  ___  Quarterly Dividend

_    The company_said this morning it was evaluating_whether it
will pay a scheduled 12.5-cent quarterly_dividend on Dec. 20.

  _  Enron hired the_law firm_Weil Gotshal & Manges LLP,_which has
the nation's_largest bankruptcy_practice, and the_Blackstone Group
LP investment banking firm. Arthur_Newman, head of_restructuring
at Blackstone, said his firm was_retained_and declined to_comment
further.

__ _ Chapter 11_would_let Enron_officials_continue to control the
company while negotiating_a_recovery plan with creditors. A
provision of U.S._bankruptcy law automatically blocks_debt-
collection_efforts, lawsuits and other_actions against the
company.

  _  ``A Chapter 11 filing_can be_a great_thing for a cash-starved
company being attacked from all sides,'' said Nancy_Rapoport, dean
of the University of Houston_Law Center.

  _ __  __ _      _ _   Thousands Affected

 _   An_Enron_bankruptcy would affect thousands of people,
including_the company's 21,000 employees, its customers,
suppliers,_investors and other creditors. The_court-supervised
recovery_process_would give Enron a chance_to change strategies
and fix mistakes. It_might take years_to complete and may end in
the company's_liquidation.

_    In addition_to_its energy trading operation, Enron operates_a
nationwide_gas_pipeline system spanning 25,000 miles._It also owns
Portland General Electric, which_generates and distributes power
to about 725,000 customers in the_Pacific Northwest. The_company's
Enron Broadband Services is building_a_global_fiber-optic
communications network.

     Chapter 11 reorganization lets_companies abandon_onerous
contracts and unprofitable_leases.

     ``Every bad business deal Enron_got into they'll walk away
from,'' said Peter_Chapman, a distressed-debt investor who also
publishes newsletters on high-profile bankruptcy reorganizations.

_       _      _   __      __Recovery

__  _The goal in_Chapter 11 is_a recovery_plan that allows_a
company to_pay