,    Gary Peng
	  01/17/2000 09:39 PM

To:     Eric McKee/AAICorp/Enron@Enron
cc:

Subject:


4q99earnings3.xis





			   ENRON CORP.
		      Table I - Earnings Summary
		    (Unaudited: in milliions except per share data)

									Year Ended
									December 31,
								     1999       1998

Revenues

Transportation and Distribution:
  Gas Pipeline Group                                     $     181  $      170
  Portland General                                             377         327
Wholesale Energy Operations and Services                     9,936       6,618
Retail Energy Services                                         555         322
Exploration and Production (a)                                    -        230
Corporate and Other (including intercompany eliminations)      (76)         35
    Total Revenues                                       $  10,973 $     7,702

								     $     653  $      653
									  1,379       1,196
									36,287       27,725
									  1,807       1,072
									   526         884
									  (540)       (270)
								     $  40,112  $    31,260

After tax results

Net income excluding nonrecurring items
Nonrecurring Items:
Gain on sale of EOG stock
Charges related to MTBE asset
Cumulative effect of accounting changes
Net income

$      259 $

171

	  -        45
	  -       (40)

$      259$       176

$     957  $

698

      345         45
      (278)       (40)
      (131)         -
$     893  $      703

Earnings (loss) per share (diluted) (b)

EPS (diluted) excluding nonrecurring items
Nonrecurring items:
Gain on sale of EOG stock
Charges related to MTBE asset
Cumulative effect of accounting changes
EPS (diluted)

Average shares outstanding (diluted) (b)

$     0.31 $     0.24

       -         0.07
       -         (0.06)

$     0.31 $     0.25

     779.1       716.4

$     1.18 $

1.00

      0.45       0.07
     (0.36)     (0.06)
     (0.17)       -
$     1.10 $     1.01

     769.0      695.3

(a) Reflects results of Enron Oil & Gas through August 16,1999, date of share exchange transaction.
(b) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was
   effective August 13,1999.

  Quarter Ended
  December 31,
1999       1998





					    Fourth Quarter 1999

			  ENRON CORP.
		     Table 2a - Results by Segment
		  (Unaudited: in millions, except per share amounts)


					      Non-
				Recurring   Recurring

IBIT:
Transportation and Distribution:
  Gas Pipeline Group
  Portland General
Wholesale Energy Operations and Services
Retail Energy Services
Exploration and Production (a)
Corporate and Other
  IBIT
Interest and Related Charges, net
Dividends on Preferred Securities
 of Subsidiaries
Minority Interests
Income Tax Provision
Net Income
Preferred Dividends:
  Second preferred stock
  Series A and Series B Preferred Stock (b)
Earnings on Common Stock

$      97 $
      105
      263
	 7

	 1           -
      473            -
      119            -

       19            -
       41            -
       35            -
      259            -

	 4           -
       20            -
$     235  $         -

	97
	105
	263
	  7

	  1
	473
	119

	19
	41
	35
	259

	  4
	20
$       235

Average Number of Shares Used: (c)
  Basic
  Diluted

Earnings per Common Share: (c)
  Basic
  Diluted

    779.1      779.1


$    0.31 $     -  $

       715.3
       779.1


$       0.33
	0.31

(a) Reflects results of Enron Oil & Gas through August 16, 1999, date of share exchange transaction.
(b) The Series A and Series B Preferred Stock are antidilutive and therefore have been excluded from the
   calculation of diluted earnings per share.
(c) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was
   effective August 13, 1999.

Total





					     Fourth Quarter 1998

			   ENRON CORP.
		     Table 2b - Results by Segment
		   (Unaudited: in millions, except per share amounts)


					       Non-
				 Recurring    Recurring

IBIT:
Transportation and Distribution:
  Gas Pipeline Group
  Portland General
Wholesale Energy Operations and Service
Retail Energy Services
Exploration and Production
Corporate and Other
  IBIT
Interest and Related Charges, net
Dividends on Preferred Securities
 of Subsidiaries
Minority Interests
Income Tax Provision (Benefit)
Net Income
Preferred Dividends:
  Second preferred stock
Earnings on Common Stock

Average Number of Shares Used:
  Basic
  Diluted

Earnings per Common Share:
  Basic
  Diluted      -

$      84 $
       84             -
      201             -
      (26)            -
       31             -
       26           (39)
      400           (39)
      152             -

       19             -
       17             -
       41           (44)
      171             5

	 4            -
$     167   $         5


     716.4        716.4


$     0.24 $       0.01 $

	 84
	 84
	201
	(26)
	 31

	361
	152

	 19
	 17

	176

	  4
$       172


      661.8
      716.4


$       0.26
	0.25

Note: Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was
     effective August 13, 1999.

Total





						 1999 Year

			     ENRON CORP.
		       Table 2c - Results by Segment
		    (Unaudited: in millions, except per share amounts)


						  Non-
				    Recurring    Recurring

IBIT:
Transportation and Distribution:
  Gas Pipeline Group
  Portland General
Wholesale Energy Operations and Services
Retail Energy Services
Exploration and Production (a)
Corporate and Other
  IBIT
Interest and Related Charges, net
Dividends on Preferred Securities
 of Subsidiaries
Minority Interests
Income Tax Provision (Benefit)
Income before Cumulative Accounting Changes
Cumulative Effect of Accounting Changes, net of tax
Net Income (Loss)
Preferred Dividends:
  Second preferred stock
  Series A and Series B Preferred Stock (b)
Earnings (Loss) on Common Stock

$      380
       305
     1,317
       (68)
       65
       (17)
     1,982
       656

       76
       135
       158
       957

       957

$


	13
	13


	(54)
	67
       (131)
	(64)

      17           -
      49           -
$    891 $       (64)

$       380
	305
      1,317
	(68)
	 65
	»=1
      1,995
	656

	 76
	135
	104
      1,024

	893

	 17
	 49
$       827

Average Number of Shares Used: (c)
  Basic
  Diluted

Earnings (Loss) per Common Share: (c)
  Basic
  Diluted

    769.0      769.0


$    1.18 $    (0.08)

(a) Reflects results of Enron Oil & Gas through August 16, 1999, date of share exchange transaction.
(b) The Series A and Series B Preferred Stock are antidilutive and therefore have been excluded from the
   calculation of diluted earnings per share.
(c) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was
   effective August 13, 1999.

Total

     705.3
     769.0


$     1.17
$     1.10





						 1998 Year

				     ENRON CORP.
			     Table 2d - Results by Segment
			 (Unaudited: in millions, except per share amounts)


							     Non.
					     Recurring     Recurring      Total

IBIT:
Transportation and Distribution:
 Gas Pipeline Group
 Portland General
Wholesale Energy Operations and Services
Retail Energy Services
Exploration and Production
Corporate and Other
 IBIT
Interest and Related Charges, net
Dividends on Preferred Securities
of Subsidiaries
Minority Interests
Income Tax Provision (Benefit)
Net Income
Preferred Dividends:
 Second preferred stock
Earnings on Common Stock

Average Number of Shares Used:
  Basic
  Diluted

Earnings per Common Share:
 Basic
 Diluted

$     351   $
      286               -
      968               -
      (119)             -
      128               -
	7             (39)
    1,621             (39)
      550               -

       77               -
       77               -
      219             (44)
      698               5

       17               -          17
$     681$              5$        686


				 642.3
    695.3           695.3        695.3


			  $       1.07
$     1.00 $         0.01 $       1.01

Note: Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split that was
     effective August 13, 1999.

 351
 286
 968
(119)
 128

1,582
 550

  77
  77
 175
 703





						   Transportation
						   and Distribution
			  ENRON CORP.
		  Table 3a - Core Business Highlights
			     (Unaudited)

 Quarter Ended
 December 31,
1999      1998

  Year Ended
  December 31,
1999      1998

IGas Pipeline Group
(In Millions)
Net Revenues
Operating Expenses
Depreciation & Amortization
Equity in Earnings
Other Income, net
 IBIT

$     176 $     167
       74        71
       14
	 8
	 1        4
$      97$       84

	 $     626 $    640
	       264      276
20             66        70
4              38        32
	       46        25
	 $     380 $    351

Total Volumes Transported (BBtuId) (a)
  Northern Natural Gas
  Transwestern Pipeline
  Florida Gas Transmission
  Northern Border Pipeline

Portland General
(In Millions)

Revenues
Purchased Power & Fuel
Operating Expenses
Depreciation & Amortization
Other Income, net
 IBIT

$     377
      179
       81

$

44

327
129
65
47

       32  ~
$     105$      84

Retail Customers (end of period, thousands)      719       704

Electricity Sales (Thousand MWh)
 Residential
 Commercial
 Industrial
   Total Retail
 Wholesale
   Total Sales*

2,004
1,879
1,198
5,081
3,300
8,381

2,052
1,725
 921
4,698

6,935

719        704

7,404
7,392
4,463
19,259
12,612
31,871

 7,101
 6,781
 3,562
17,444
10,869
28,313

(a) Reflects 100% of each entity~s throughput volumes.

3,738
1,460
1,538
2,406

4,252
1,492
1,310
1,781

3,820
1,462
1,495
2,405

4,098
1,608
1,324
1,770

$    1,379
      639
      304
      181
       50
$     305

$    1,196
      451
      295
      183
       19
$     286





					       I Wholesale Energy
						   Operations
						  and Services
			  ENRON CORP.
		  Table 3b - Core Business Highlights
			    (Unaudited)

					    Quarter Ended
					    December 31,
					1999         1998
IWholesale Energy Operations and Services

(In Millions)
Commodity Sales and Services
Energy Assets and Investments
Unallocated Expenses
 IBIT

$        151 $         107
	 149           140
		       (46)
$        263$          201

	 Year Ended
	 December 31,
     1999          1998


$        628  $        411
	 850           709
	 (161)        A1~I
$      1,317 $         968

Commodity Sales and Services
Physical Volumes (BBtueld) (a)
Gas:
 United States
 Canada
 Europe
 Other

 Transport Volumes
   Total Gas Volumes
Oil
Liquids
Electricity (b)
   Total Physical Volumes (BBtueld) (a)

Electricity Volumes Marketed (Thousand MWh)
 United States
 Europe
 Other
   Total


Financial Settlements (Notional)(BBtue/d)

					   10,219
					    4,406
					    1,604
					      26
					   16,255
					     693
					   16,948
					    5,877
					     947
					   12,329


					   88,254
					   25,050
					     121
					  113,425


					  107,849

							 7,941
							 4,101
							 1,605
							     4
							13,651
							   510
							14,161
							 4,923
							   586
							 9,008
							28,678


							78,969
							 3,860
							    46
							82,875


							79,481

(a) Includes third-party transactions of Enron Energy Services.
(b) Represents electricity transaction volumes marketed, converted to BBtue/d.

  8,982
  4,398
  1,549
     23
 14,952
    575
 15,527
  5,407
    753
 12,109
 33,796


380,518
 61,022
    433


 97,970

  7,418
  3,486
  1,243
      8
 12,155
    559
 12,714
  2,960
    610
 11,472
 27,756


401,843
 16,863
     46
418,752


 74,818