Dcii Name: Pluto fMEGS)           Dollar Amount: $26.3 million
 Dale Completed: 12/27/99
 Dmcrip4ion of Tramaction: Pttrehaae of debt and equity in entity that had a. olTahore
 gas gathering coatrart whit Unrilaglon Resourem and Mariner

 Enron Business Unit Benefileti: ENA

 Did the deal rmait in a direct or indirect bone fit to Enron: Direct and Indirect

 Primary Benefit: Generated earaisga from ENA'. ability to mark-tn-market against
 the oilhhore gathering contract

 Fonda Flow Direcl:SO.g million    Funds Flow Indirect: S24.O million

 Earning. Direct: $2.5 million     Earnings Indirect:

 Feen Saved : S16,RIO

 Other equity investors bidding on the transaction:
 iNnate
 2.
 3.
 o indIcate whether our pwrhase sras on the solve terms as the other cqaitvparrhasers.

 Did the deal dote with UM? yea

 If not, why?

  lndkare whether the reason was driven by Enron or LIM.

 Other benefits to Enron:
 * No ~V' parties (i.e., banko) would buy this Mariner exposure in the tieseframe
   that LJM did


 Compiled hy: Chria Loehr


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