CONFIDENTIAL Overview of Enrons Generation Location of Enron

CONFIDENTIAL Overview of Enron’s Generation Location of Enron Assets NPCC MAPP Chicago (240) Sarnia (320) Manhattan (650) MAIN WSCC SPP MAAC ECAR Wheatland (503) LV Cogen (270) Pastoria (750) Gleason (533) Brownsville (492) New Albany (391) Caledonia (498) SERC ERCOT Doyle (340) Enron City (Capacity, MW) In Operation Under Construction Development 1

CONFIDENTIAL Overview of Enron’s Generation Location of Combined Enron/Reliant Assets MAPP NPCC Mc. Henry (500) Chicago (240) Sarnia (320) MAAC Manhattan (650) WSCC Aurora (924) MAIN ECAR SPP Shelby County (340) JDA (700, 250) Pastoria (750) Wheatland (503) LV Cogen (270) Etiwanda (1, 046) Gleason (533) El Dorado (246) Brownsville (492) Ellwood (53) Coolwater (658) New Albany (391) JDA (530) Mandalay (560) Caledonia (498) Desert Basin Generating (560) SERC Doyle (340) ERCOT Ormond Beach (1, 500) Reliant/Enron City (Capacity, MW) In Operation Under Construction Development Purchased Channelview (780) South Texas (770) Hope (500) Sabine (50) Details for plants for HL&P: - W. A. Parish (3, 654) - Cedar Bayou (2, 260) - P. H. Robinson (2, 213) - Limestone (1, 532) - T. H. Wharton (1, 254) - S. R. Bertron (844) - Greens Bayou (760) - Webster (387) - Deepwater (178) - San Jacinto (162) - H. O. Clarke (78) Total MWs = 13, 322 MW Osceola (460) Details for plants in PJM area: - Shawville, Pa (603) - Portland, Pa (570) - Gilbert Project, NJ (538) -- Sayreville, NJ (453) - Conemaugh, Pa (291) - Keystone, Pa (291) - Titus, Pa (274) - Werner, NJ (212) - Seward, Pa (196) - Glen Gardner, NJ (160) - Warren, Pa (139) - Hunterstown, Pa (60) - Wayne, Pa (56) - Mountain, Pa (40) - Tolna, Pa (40) - Piney, Pa (27) - Hamilton, Pa (20) - Orrtana, Pa (20) - Shawnee, Pa (20) - Deep Creek, Md (18) Total MWs = 4, 028 MW Titusville (619) 2

CONFIDENTIAL Overview of Enron’s Generation Portfolio Comparisons 3

CONFIDENTIAL Overview of Enron’s Generation Stock Performance Comparisons (As of April 25, 2000) 700 Relative Performance (Base 100, April 9, 1999) 600 500 Current P/E Forward P/E* Calpine 51. 60 36. 70 AES 44. 25 28. 28 Enron 59. 00 52. 60 REI 13. 07 11. 63 400 300 200 100 0 Apr-99 May-99 Jun-99 Jul-99 Aug-99 Sep-99 Oct-99 Nov-99 Dec-99 Jan-00 Feb-00 Mar-00 Apr-00 * Source: Bloomberg as of April 25, 2000 Enron Calpine AES REI DJ Utility 4

CONFIDENTIAL Overview of Enron’s Generation 1999 and 2000 Merchant Peaker Projects • 1999 Projects Brownsville, Tennessee Caledonia, Mississippi New Albany, Mississippi 492 MW ISO 498 MW ISO 391 MW ISO SERC 1999 Summer 2000 Projects Manhattan, Illinois Gleason, Tennessee Wheatland, Indiana 650 MW ISO 533 MW ISO 503 MW ISO MAIN SERC ECAR 2000 Summer 3, 067 MWs positioned in multiple high value energy markets: • • • TVA-SERC, CINergy-ECAR, Com. Ed-MAIN Access to: • 55% of total US electricity demand • 80% of Eastern Interconnect Proximity to: • Multiple major interstate gas pipelines • 34 electric transmission systems • Several power trading hubs, including: TVA-CBOT, CINergy-Nymex, Com. Ed-CBOT 5

CONFIDENTIAL Overview of Enron’s Generation Summary • • Enron North America (“ENA”) will have in excess of 3, 000 MWs of gas-fired, peaking electrical power in the Southeast and Midwest power markets by the Summer of 2000: • Midwest Region: - 1, 153 MWs in merchant capacity in Illinois and Indiana • Southeast Region: - 1, 914 MWs in merchant capacity in Mississippi and Tennessee - 340 MWs (170 net) in Georgia under L-T toll with a third party ENA has additional opportunities in operation and in advanced stages of development throughout the US and near the Canadian border: • Western Region: - 750 MW combined cycle for ‘ 03 COD in Bakersfield, California - 50 MW qualified facility with merchant peaker expansion of 220 MW for early ‘ 02 COD in Las Vegas, Nevada • Midwest Region: - 240 MW (120 net) peaker for Summer ‘ 01 COD near Chicago, Illinois - 320 MW peaker for Summer ‘ 01 COD near Sarnia, Ontario (Port Huron, MI) 6