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		 LAY RESIGNS AS CHAIRMAN AND CEO                                               Enron Corp.
		 OF EN RON, REMAINS ON BOARD OF                                                archive 200'
		 DIRECTORS                                                                     archive 200:
											       archive 2901

		 FOR IMMEDIATE RELEASE: Wednesday, January 23, 2002                            archive 200~
											       archive 2001
		 HOUSTON - Enron (ENRNQ) announced today that
		 Kenneth L. Lay has resigned as Chairman of the Board and                      archive 199
		 Chief Executive Officer of Enron Corp. Mr. Lay, who will                      archive 1991
		 also retire as an Enron employee, will remain on the                          archive 199
		 company's Board of Directors. The Board, in cooperation
		 with the Creditors' Committee in Enron's bankruptcy, is in                    archive 199
		 the process of selecting a restructuring specialist to join the
		 company who will assist in Enron's efforts to emerge from
		 bankruptcy and, on an interim basis, serve as acting chief
		 executive officer.

		 "This was a decision the Board and I reached in cooperation
		 with our Creditors' Committee," said Mr. Lay. "I want to
		 see Enron survive, and for that to happen we need
		 someone at the helm who can focus 100 percent of his
		 efforts on reorganizing the company and preserving value
		 for our creditors and hard-working employees.
		 Unfortunately, with the multiple inquiries and investigations
		 that currently require much of my time, it is becoming
		 increasingly difficult to concentrate fully on what is most
		 important to Enron's stakeholders."

		 The Board intends to promptly focus on the selection of a
		 new chairman.

		 Enron markets electricity and natural gas, delivers energy
		 and other physical commodities, and provides financial and
		 risk management services to customers around the world.
		 Enron's Internet address is www.enron.com.

		 This press release contains statements that are forward-
		 looking within the meaning of Section 27A of the Securities
		 Act of 1933 and Section 21E of the Securities Exchange Act
		 of 1934. Investors are cautioned that any such forward-
		 looking statements are not guarantees of future
		 performance and that actual results could differ materially
		 as a result of known and unknown risks and uncertainties,
		 including: various regulatory issues, the outcome of the
		 company's Chapter 11 process, the outcome of the
		 litigation discussed above, general economic conditions,
		 future trends, and other risks, uncertainties and factors
		 disclosed in the Company's most recent reports on Forms
		 10-K, 10-Q and 8-K filed with the Securities and Exchange

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