============= Page 1 of 19 ============= Kenneth L. & Linda P. Lay SUMMARY BALANCE SHEET As of: November 30, 2001 December 21, 2001 ASSETS CURRENT ASSETS Cash on Hand $ 3,435.05 Checking Accounts 1,194,497.49 Money Market Accounts 2,472,889.38 Brokerage Accounts 7,159.14 Savings Accounts 46.30 Savings Bonds 600.00 Short-term Receivables 6,730,942.95 Notes Receivable 1,458,788.27 TOTAL CURRENT ASSETS S 11,868,358.58 Page 1 BF002-00887 MARKETABLE INVESTMENTS Enron Corp. $ 64,387.96 Common Stock-Director 4,935,947.70 Sanders Morris Mundy-Com 351,520.40 Cypress Asset Mgmt.-Com 3,025,284.21 Paine Webber Core Hold. 21,145.00 Vested Exec Stock Options 9,308.10 TOTAL MARKETABLE INVESTMENTS 8,407,593.37 LONG-TERM INVESTMENTS Residence $ 10,156,723.27 Real Estate Other Homes 20,353,921.35 Real Estate Active Rental 2,103,490.81 Real Estate Partnerships 4,769,225.08 Farming Interests 4,500.00 Privately-Held Stock 13,212,220.37 Corporate Bond-Convertible 255,240.00 GS 1999 Exchange Fund 4,938,006.13 Family Partnerships 3,894,568.00 Other Investments 16,48 5,73 0.24 TOTAL LONG-TERM INVESTMENTS 76,173,625.25 RETIREMENT/DEFERRED ASSETS IRA $ 45,410.94 RA/Spouse 45,445.18 Retirement Plans 358,837.13 Deferred Compensat'n Plans 1,596,493.68 TOTAL RETIREMENT/DEFERRED ASSETS 2,046,186.93 PERSONAL/NON-EARNING ASSET Automobile(s) $ 475,478.20 Home Furnishings 3,012,235.97 Other Vehicles & Equip 143,720.88 LAY-G32 1715 GOVERNMENT EXHIBIT 233 Crim. No. H-04-25 (S-2) ============= Page 2 of 19 ============= Kenneth L. & Linda P. Lay SUMMARY BALANCE SHEET As of: November 30, 2001 TOTAL PERSONAL/NON-EARNING ASSET TOTAL ASSETS LIABILITIES CURRENT LIABILITIES Notes Payable Security Deposits Margin Acct Liability Other Current Liabilities TOTAL CURRENT LIABILITIES LONG-TERM LIABILITIES Home Mortgage Other Real Estate Mtge Investment Liabilities Deferred Tax Liabilities TOTAL LONG-TERM LIABILITIES BUSINESS LIABILITIES Employer Taxes/Bus Accrue Social Sec Tax/Bus TOTAL BUSINESS LIABILITIES TOTAL LIABILITIES EQUITY TOTAL NET WORTH TOTAL LIABILITIES AND NET WORTH December 21, 2001 3,631,435.05 $ 102,127,199.18 $ 8,289,871.12 1,369.18 1,63 9,427.15 6,666,521.85 $ 5,295,743.50 14,687,431.49 2,205,074.87 74,623.00 $ 121,016.10 38,386.37 16,597,189.30 22,262,872.86 159,402.47 S 39,019,464.63 $ 63,107,734.55 $ 102,127,199.18 LAY-G32 1716 Page 2 _BF002-00888 ============= Page 3 of 19 ============= December 21, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 Balance ASSETS CURRENT ASSETS Cash on Hand CASH ON HAND/BVLILT 1,553.05 CASH ON HAND/CHUGLI 214.44 CASH ON HAND/LEONA 381.63 CASH ON HAND/MSTURGIS 199.77 CASH ON HAND/PRAKER 219.33 CASH ON HAND/PSTOKES 779.03 CASH ON HAND/SK 87.80 Total Cash on Hand: 3,435.05 Checking Accounts: BANK OF AMER-PRAKER 5,000.00 BANK OF AMER-VAN DER 3,860.00 BANK OF AMERILPL PROP 2,369.28 BANK OF AMER/STOKES 3,960.83 BANK OF AMERICA 0707 1,173,724.47 CHASE BANK CHECKING 1,385.35 UNITY 109-900 2,663.01 VECTRA BANK 1,534.55 Total Checking Accounts: 1,194,497.49 Money Market Accounts: SOUTHWEST BANK OF TX 2,382,889.38 WASHINGTON DC ACCT 90,000.00 Total Money Market Accounts: 2,472,889.38 Brokerage Accounts: FIRST UNION MMA/FTU-26 984.46 FIRST UNION MMA/FTU-30 0.68 FIRST UNION MMA/FTU-54 3,631.31 FIRST UNION MMA/FTU-60 53.89 GOLDMAN SACHS/GS-61 626.72 JP MORGAN SEC MMA/CBT 17.49 PAINE WEBBER MMA/PW-22 1,844.59 Total Brokerage Accounts: 7,159.14 Savings Accounts: ENRON CREDIT UNION/KLL 46.30 Total Savings Accounts: 46.30 Treasury Bills: SAVINGS BONDS 600.00 Total Treasury Bills: 600.00 Page 1 LAY-G32 1717 _BF002-00889 ============= Page 4 of 19 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 Balance Short-term Receivables: ACCT RECV-A. PHILLIPS 37,000.00 ACCT RECV-BJONES 102,135.43 ACCT RECV-BLANCA PEREIRA 25,000.00 ACCT RECV-CHAD MODAD 20,000.00 ACCT RECV-CHRISTINA EMERSO 10,000.00 ACCT RECV-D. HOBBS 66,666.00 ACCT RECV-DANIELATERRAZAS 4,178.00 ACCT RECV-FREDERICA MAYO 280.50 ACCT RECV-G KINNEAR 900,000.00 ACCT RECV-HUGUES HEYMAN 44,914.35 ACCT RECV-J EMERSON 28,615.85 ACCT RECV-JANE TRAN 25,000.00 ACCT RECV-JIM EMERSON 18,000.00 ACCT RECV-KLL & LPL INVEST 4,298,500.00 ACCT RECV-MARCELO LIQUITAY 10,000.00 ACCT RECV-MIS C 6,578.88 ACCT RECV-MKL 150,000.00 ACCT RECV-OSVALDO PEREIRA 15,000.00 ACCT RECV-P TERRAZAS 12,843.45 ACCT RECV-PAMELA MAYORGA -31.10 ACCT RECV-PAOLA TERRAZAS 724.45 ACCT RECV-RENT DEP (#1000) 2,102.08 ACCT RECV-RENT DEP (#811) 1,058.33 ACCT RECV-RUTH VILLALOBOS 50,000.00 ACCT RECV-RV 84,643.00 ACCT RECV-S. ADARO 9,985.00 ACCT RECV-S. HOBBS 66,666.00 ACCT RECV-T. ZILBERFARB 15,000.00 ACCT RECV-TDH 500,000.00 ACCT RECV-VAN STOKES 3,000.00 ACCT RECV-WE TRADE INVEST 223,082.73 Total Short-term Receivables: 6,730,942.95 Notes Receivable: FAM PTRNS ANNUITY-2/KLL 73 0,081.17 FAM PTRNS ANNUITY-2/LPL 728,707.10 Total Notes Receivable: 1,458,788.27 TOTAL CURRENT ASSETS 11,868,358.58 MARKETABLE INVESTMENTS Enron Corp.: ENRON 50000SH 7-01/NFL 13,000.00 ENRON CORP 1,859SH(S)/NFL ,483.34 December 21, 2001 Page 2 LAY-G32 1718 3FO02-00890 ============= Page 5 of 19 ============= December 21, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 Balance ENRON CORP 2,246SH/CBT 583.96 ENRON CORP 35,000BA-INV 9,100.00 ENRON CORP 68,620SH/NFL 17,841.20 ENRON CORP 79,691SHINFL 20,719.66 ENRON CORP 790SH(S)NFL 205.40 ENRON CORP 9,440SH/NFL 2,454.40 Total Enron Corp.: 64,387.96 Common Stock-Director COMPAQ COMP 11,970SH/BA 121,495.50 COMPAQ COMP 124596SH(2)/BA 1,264,649.40 COMPAQ COMP 20,000SHS/CBT 203,000.00 COMPAQ COMP 30,000BA-rNV 304,500.00 COMPAQ COMP 71,094SHBA 721,604.10 COMPAQ COMP 83,064BA-INV 843,099.60 ELI LILLY 100-1 SH/FTU-54 8,267.00 ELI LILLY 100-2SH/FTU-54 8,267.00 ELI LILLY 200SH/FTU-54 16,534.00 ELI LILLY 330 SHS/NFL 27,281.10 ELI LILLY 5,000 SHS(1)/CBR 413,350.00 ELI LILLY 5,000 SHS(2)/CBR 413,350.00 ELI LILLY 5000SH-2/NFL 413,350.00 12 TECHN 2000SH/FTU-60 22,960.00 12 TECHN 500SH/FTU-60 5,740.00 TNPC 100,000SH/FTtJ-60 99,000.00 TNPC 25,000SH-2/FTU-60 24,750.00 TNPC 25,000SH/FTU-60 24,750.00 Total Common Stock-Director 4,935,947.70 Sanders Morris Mundy-Com: CAP ENVIR 10,000SH/SMH-JT 37,800.00 CAP TITLE GR 37,037/SMH-JT 88,888.80 CAP TITLE GR 5,000/SMH-JT 12,000.00 TYLER TECHN INC/SMH-JT 169,500.00 WASTE CORP 16,666SH/SMH-JT 43,331.60 Total Sanders Morris Mundy-Com: 351,520.40 Cypress Asset Mgmt: Com: ABBOTT LAB 100-ISIVFTU-54 5,500.00 ABBOTT LAB 300-2SH/FTU-54 16,500.00 AMER EXPRESS 100SH/FTU-54 9,873.00 AMER EXPRESS 150SH/FTU-54 14,809.50 AMER HOME 100SH-4/FTU-54 6,010.00 AMER HOME 150SH-1/FTU-54 9,015.00 AMER HOME 150SH-2/FTU-54 9,015.00 Page 3 LAY-G32 1719 _BF002-00891 ============= Page 6 of 19 ============= O Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 AMER HOME 150SIVFTU-54 AMER HOME 300SH-2JFTU-54 AMER HOME 400SH/FTU-54 AMER INTL GRP 100-2/FTU-54 AMER INTL GRP 100SH/FTU-54 AMER INTL GRP 256SH/FTU-54 AMER INTL GRP 64SH/FTU-54 AMER INTL GRP 75SH/FTU-54 AMER INTL GRP 80SH/FTU-54 AMER INTL GRP 868SH/FTU-54 ANADARK PET 200SH- l/FTU-54 ANADARK PET 200SH-2/FTU-54 ANADARK PET 500SH/FTU-54 ANALOG DEV 200SH-1/FTU-54 ANALOG DEV 200SH-2/FTU-54 ANALOG DEV 500SIVFTU-54 AOL TIME 100 S-1/FTU-54 AOL TIME 100 S-2/FTU-54 AOL TIME 100 S-3/FTU-54 AOL TIME 100 S-4/FTU-54 AOL TIME 100 S-5/FTU-54 AOL TIME 200 S/FTU-54 AOL TIME 300 SHS/FTU-54 AOL TIME 400 S/FTU-54 APPLIED MAT 150SH/FTU-54 APPLIED MAT 250SI/FTU-54 APPLIED MAT 700SH/FTU-54 BANK OF NY 100SH/FTU-54 BANK OF NY 200SH-2/FTU-54 BANK OF NY 200SH-3/FTU-54 BANK OF NY 200SH-4/FTU-54 BANK OF NY 200SHIFTU-54 BANK OF NY 300SH/FTU-54 BANK OF NY 500SH-1/FTU-54 BANK OF NY 500SH-2/FTU-54 BERKSHIRE HATH 14/FTU-54 BERKSHIRE HATH 3/FTU-54 BERKSHIRE HATH 4/FTU-54 BERKSHIRE HATH B 3/FTU-54 BERKSHIRE HATH 2S/FTU-54 BERKSHIRE HATH I S/FTU-54 BRISTOL-MYERS 600SH/FTU-54 BURLING RES 200SH-1/FTU-54 BURLING RES 200SH-2/FTU-54 BURLINGTON 100SH/FTU-54 Page 4 Balance 9,015.00 18,030.00 24,040.00 12,360.00 15,408.80 39,552.00 9,888.00 9,311.20 12,360.00 71,523.20 10,380.00 10,380.00 25,950.00 17,000.00 12,750.00 29,750.00 5,200.10 5,200.10 5,200.10 5,200.10 5,200.10 10,644.50 15,600.30 21,044.70 5,961.00 9,93 5.00 11,922.00 3,924.00 7,848.00 7,848.00 7,848.00 7,848.00 11,772.00 19,620.00 19,620.00 32,662.00 6,999.00 9,332.00 6,999.00 4,666.00 2,333.00 32,256.00 7,028.00 7,028.00 3,514.00 December 21, 2001 LAY-G32 1720 _BF002-00892 ============= Page 7 of 19 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 BURLINGTON 300SH/FTU-54 BURLINGTON 600SIVFTU-54 CISCO SYST 150SHIFTU-54 CISCO SYST 205SIVFTU-54 CISCO SYST 290SH/FTU-54 CISCO SYST 500SH/FTU-54 CISCO SYST 50SH-1/FTU-54 CISCO SYST 50SH-2IFTU-54 CISCO SYST 800SIVFTU-54 CITIGROUP 100SH-1/FTU-54 CITIGROUP 100SH-2/FTU-54 CITIGROUP 150-1 SH/FTU-54 CITIGROUP 150-2SH/FTU-54 CITIGROUP 200SH-1/FTU-54 CITIGROUP 200SH-2/FTU-54 CITIGROUP 225SH/FTU-54 CITIGROUP 450SHIFTU-54 CITIGROUP 234SH/FTU-54 CHEVRONTEX 53SIVFTU-54 COCA COLA 100SHIFTU-54 COCA COLA 150-1 SH/FTU-54 COCA COLA 150-2SH/FTU-54 COCA COLA 150-3SH/FTU-54 COCA COLA 150-4SH/FTU-54 COCA COLA 200SH/FTU-54 COCA COLA 300SH/FTU-54 COSTCO CO 100-2SH/FTU-54 COSTCO CO 100-3SH/FTU-54 COSTCO CO 100-ISH/FTU-54 COSTCO CO 200SH/FTU-54 DELL COMP 200SH/FTU-54 DELL COMP 300SH/FTU-54 DELL COMP 500SH/FTU-54 DELL COMP 700SH/FTU-54 DISNEY WALT 100-2SH/FTU-54 DISNEY WALT 200-1SH/FTU-54 DISNEY WALT 200-2SHIFTU-54 DISNEY WALT 300-1 SHIFTU-54 DISNEY WALT 300-2SH/FTU-54 DISNEY WALT 300-3SH/FTU-54 DISNEY WALT 600SIVFTU-54 FANNIE MAE 200SHIFTU-54 FANNIE MAE 300SHIFTU-54 GENERAL ELECT 100-1/FTU-54 GENERAL ELECT 100-2IFTU-54 Balance 10,542.00 21,084.00 12,264.00 8,380.40 5,927.60 10,220.00 4,088.00 4,088.00 16,352.00 9,005.20 4,790.00 13,747.30 13,747.30 12,837.20 9,580.00 19,734.80 39,469.60 11,208.60 4,505.53 4,696.00 7,044.00 7,044.00 7,044.00 7,044.00 9,392.00 14,088.00 8,176.00 8,176.00 8,176.00 16,352.00 5,586.00 8,379.00 13,965.00 19,551.00 2,047.00 4,094.00 4,094.00 6,141.00 6,141.00 6,141.00 12,282.00 15,720.00 23,580.00 11,550.00 11,550.00 December 21, 2001 LAY-G32 1721 Page 5 -BF002-00893 ============= Page 8 of 19 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 GENERAL ELECT 100-3/FTU-54 GENERAL ELECT 100-4/FTU-54 GENERAL ELECT 200- 1/FTU-54 GENERAL ELECT 200-2/FTU-54 GENERAL ELECT 200-3/FTU-54 GENERAL ELECT 200-4/FTU-54 GLOBAL CROSS 300SH/FTU-54 GLOBAL CROSS 700SHIFTU-54 HONEYWELL 1100SH/FTU-54 HONEYWELL 150SH/FTU-54 HONEYWELL 250SH/FTU-54 IBM 100 SHS-1/FTU-54 IBM 100 SHS-2/FTU-54 IBM 150SH/FTU-54 IBM 50 SHS/FTU-54 IBM 75-1 SHIFTU-54 IBM 75-2SH/FTU-54 IBM 75-3 SH/FTU-54 INTEL CORP 200SIVFTU-54 INTEL CORP 300SH/FTU-54 INTEL CORP 344SH/FTU-54 JP MORG CHASE 500SH/FTU-54 JOHN & JOHN 100SH-2/FTU-54 JOHN & JOHN I GOSH-3/FTU-54 JOHN & JOHN 100SH-4/FTU-54 JOHN & JOHN 100SH-5/FTU-54 JOHN & JOHN 150SH-1/FTU-54 JOHN & JOHN 150SH-2/FTU-54 JOHN & JOHN 175SH/FTU-54 JOHN & JOHN 50SH/FTU-54 JOHN & JOHN 75SHIFTU-54 LINEAR TECHN 3OOSH/FTU-54 LINEAR TECHN 400SH/FTU-54 LOCKHEED MART 400SH/FTU-54 LOCKHEED MART IOOSH/FTU-54 MARSH & MCLEN 250SH/FTU-54 MARSH & MCLEN 50SH/FTU-54 MEDTRONIC 300SIVFTU-54 MEDTRONIC 700SH/FTU-54 MELLON FIN 1250SH/FTU-54 MERCK 100-1 SH/FTU-54 MERCK 100-2SH/FTU-54 MERCK 100-3SH/FTU-54 MERCK 100-4SH/FTU-54 MERCK 100-5SH/FTU-54 Page 6 Balance 11,550.00 11,550.00 23,100.00 23,100.00 7,700.00 7,700.00 381.00 889.00 36,454.00 1,657.00 8,285.00 23,118.00 11,559.00 17,33 8.50 11,559.00 17,33 8.50 17,33 8.50 17,33 8.50 6,53 2.00 16,721.92 22,470.08 18,860.00 11,650.00 11,650.00 11,650.00 11,65 0.00 17,475.00 17,475.00 20,387.50 5,825.00 8,737.50 12,309.00 28,721.00 18,580.00 4,645.00 26,742.50 5,348.50 14,184.00 33,096.00 46,737.50 13,550.00 13,550.00 13,550.00 6,775.00 6,775.00 December 21, 2001 LAY-G32 1722 LBF002-00894 ============= Page 9 of 19 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 MERCK 50 SHS/FTU-54 MERRILL LYNCH 100-1/FTU-54 MERRILL LYNCH 100-2/FTU-54 MERRILL LYNCH 300SH/FTU-54 MERRILL LYNCH 50-1/FTU-54 MICROSFT 100SH-4/FTU-54 MICROSFT 100SH-5/FTU-54 MICROSFT 100SH-6/FTU-54 MICROSFT 100SH-7/FTU-54 MICROSFT 125SIFFTU-54 MICROSFT 500SHIFTU-54 MICROSFT 75SH/FTU-54 MOLEX INC 200SH/FTU-54 MOLEX INC 300-1 SH/FTU-54 MOLEX INC 300-2SH/FTU-54 MOLEX INC 600-1 SH/FTU-54 MOLEX INC 600-2SH/FTU-54 MORGAN STANL 100-1/FTU-54 MORGAN STANL 100-2/FTU-54 MORGAN STANL 100-3/FTU-54 MORGAN STANL 200SH/FTU-54 NOKIA CORP 200SH-1/FTU-54 NOKIA CORP 200SH-2/FTU-54 NOKIA CORP 300SH-1/FTU-54 NOKIA CORP 300SH-2/FTU-54 NOKIA CORP 325SH/FTU-54 PEPISCO 150 SHS-1/FTU-54 PEPISCO 150 SHS-2/FTU-54 PEPISCO 200SH-2/FTU-54 PEPISCO 200SH-3/FTU 54 PEPISCO 200SH-4/FTU-54 PEPISCO 300SH-2/FTU-54 PEPISCO 500SH/FTU-54 PEPSICO 200 SHS/FTU-54 PEPSICO 300 SH-1/FTU-54 PFIZER 100SH-2/FTU-54 PFIZER 4125 SH/FTU-54 PROCT & GAM 100SH-1/FTU-54 PROCT & GAM 100SH-2/FTU-54 PROCT & GAM 100SH-3/FTU-54 PROCT & GAM 100SH-4PFTU-54 PROCT & GAM 150SH/FTU-54 PROCT & GAM 200SHIFTU-54 PROCT & GAMB 50SH/FTU-54 ROYAL DUTCH 100SH-1/FTU-54 Page 7 Balance 6,775.00 10,018.00 5,009.00 30,054.00 5,009.00 6,421.00 6,421.00 6,421.00 6,421.00 8,026.25 32,105.00 4,815.75 6,245.00 9,367.50 9,367.50 18,735.00 18,735.00 11,100.00 11,100.00 11,100.00 22,200.00 4,602.00 4,602.00 6,903.00 6,903.00 29,913.00 7,294.50 7,294.50 9,726.00 9,726.00 9,726.00 14,589.00 24,315.00 9,726.00 14,589.00 11,910.25 178,653.75 7,746.00 7,746.00 7,746.00 7,746.00 11,619.00 15,492.00 3,873.00 4,834.00 December 21, 2001 LAY-G32 1723 .BF002-00895 ============= Page 10 of 19 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 ROYAL DUTCH 100SH-2/FTU-54 ROYAL DUTCH 125SIVFTU-54 ROYAL DUTCH 150SN/FTU-54 ROYAL DUTCH 500SH/FTU-54 ROYAL DUTCH 50SH/FTU-54 SBC COMM 101SH/FTU-54 SBC COMM 999SH/FTU-54 TARGET CORP 1 OOSHIFTU-54 TARGET CORP 200SH-2/FTU-54 TARGET CORP 200SIVFTU-54 TARGET CORP 400SIUFTU-54 TEXACO 100 SHS-1/FTU-54 TEXACO 100 SHS-2IFTU-54 TEXACO 100 SHS-3/FTU-54 TEXACO 100 SHS-4/FTU-54 TEXACO 150SH/FTU-54 TEXACO 200 SHS/FTU-54 TEXACO 300 SHS/FTU-54 TEXACO 50SH/FTU-54 TX INSTR 100SH-1/FTU-54 TX INSTR 100SH-2/FTU-54 TX INSTR 150SH-1/FTU-54 TX INSTR 150SH-2/FTU-54 TX INSTR 300SH-1/FTU-54 TX INSTR 300SH-2/FTU-54 TX INSTR 50SH-1/FTU-54 TX INSTR 50SH-2/FTU-54 TX INSTR 50SH-3/FTU-54 TX INSTR 75SH/FTU-54 VERIZON COM 122SH-1/FTU-54 VERIZON COM 122SH-2IFTU-54 VERIZON COM 122SH-3/FTU-54 VERIZON COM 129SIVFTU-54 V ERIZON CO M 3 05 SH/FTU-54 VERIZON COMM 100SH/FTU-54 VIACOM INC 300SH/FTU-54 VIACOM INC 700SH-1/FTU-54 VIACOM INC 700SH-2IFTU-54 WALMART 100 SHS/FTU-54 WALMART 150 SHS-1/FTU-54 WALMART 150 SHS-2/FTU-54 WALMART 150 SHS-3/FTU-54 WALMART 200 SHS-1/FTU-54 WALMART 200 SHS-Z=-54 XILINX 200 SHS-1/FTU-54 Balance 4,834.00 6,042.50 7,251.00 22,961.50 2,417.00 37.38 37,342.62 7,508.00 15,016.00 15,016.00 30,032.00 6,545.77 6,545.77 6,545.77 6,545.77 9,818.66 13,091.54 19,637.31 3,272.89 12,820.00 6,410.00 9,615.00 4,807.50 9,615.00 9,615.00 6,410.00 6,410.00 6,410.00 4,807.50 5,734.00 5,734.00 5,734.00 6,063.00 14,33 5.00 4,700.00 13,095.00 30,555.00 30,555.00 5,515.00 16,545.00 8,272.50 8,272.50 11,030.00 11,030.00 28,888.00 December 21, 2001 LAY-G32 1724 Page 8 .BF002-00896 ============= Page 11 of 19 ============= 4 December 21, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 Balance XILINX 50 SHS/FTU-54 7,222.00 Total Cypress Asset Mgmt.-Com: 3,025,284.21 Paine Webber Core Hold.: CELESTICA 500SH/FTU-60 21,145.00 Total Paine WebberCore Hold.: 21,145.00 Vested Exec Stock Options: CPQ ESO 4-97 4370SH 9,308.10 Total Vested Exec Stock Options: 9,308.10 TOTAL MARKETABLE INVESTMENTS 8,407,593.37 LONG-TERM INVESTMENTS Residence: REAL ESTATEMUN INGDON 10,156,723.27 Total Residence: 10,156,723.27 Real Estate Other Homes: PIRATES' COVE LOTS 299,742.66 REAL ESTATE/2514 AVALON 288,433.94 REAL ESTATE/ASPENI 2,871,653.52 REAL ESTATE/ASPEN2 5,669,131.47 REAL ESTATE/ASPEN3 6,258,089.41 REAL ESTATE/ASPEN4 1,778,001.27. REAL ESTATE/B-3429 770,503.39 REAL ESTATE/B-3431 759,970.73 REAL ESTATE/B-3433 880,881.97 REAL ESTATEIREBA 492,639.61 REAL ESTATE/WESTGATE 284,873.38 Total Real Estate Other Homes: 20,353,921.35 Real Estate Active Rental: REAL ESTATE/1 741SR 147,309.00 REAL ESTATE/1852MAR 104,044.97 REAL ESTATE/1856MAR 173,048.67 REAL ESTATE11918SR 243,875.17 REAL ESTATE/2403AVALON 944,179.00 REAL ESTATE/KINGS 190,000.00 REAL ESTATE/MEXICO MO 240,026.00 REAL ESTATE/VIKING 61,008.00 Total Real Estate Active Rental: 2,103,490.81 Real Estate Partnerships: BLENHEIM APARTS, LTD. 175,412.00 CREEKSTONE SOUTH RICE PTRS 266,115.00 LAY-G32 1725 Page 9 LBF002-00897 ============= Page 12 of 19 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 Balance CREEKSTONE WALNUT LP 748,409.00 DYMAXION APARTMENTS, LTD 21,943.00 HAINES APARTMENTS, LTD. 100,000.00 J.T.FAM,SR. INVEST., LTD. 526,650.00 JESTER APTS PARTNERS,LTD 652,654.00 LAKE CHARLES APTS., LTD. 176,023.00 MILAND INVESTMENTS LLC 569,455.08 NOLANA, LTD. 186,000.00 RESACA DE LAS PALMAS 240,000.00 SAJG KIRBY BRAESWOOD 180,000.00 TRAILSIDE APTS, LTD. 486,208.00 W.A.REHAUSENLOT INV LTD 123,578.00 W.E. TRADE INVESTMENTS LTD 316,778.00 Total Real Estate Partnerships: 4,769,225.08 Page 10 Farming Interests: 11 ACRES ILLINOIS 4,500.00 Total Farming Interests: 4,500.00 Privately-Held Stock: ACOUSTIC TECH 100,000 SH-B 210,000.00 AMER EQ LIFE 2500/SMH-JT 39,975.00 AMER EQ LIFE HLDG/SMH-JT 199,875.00 COUNTRYWATCH.COM 250,000.00 DR RED DUKE INC 52,632 SHS 100,000.80 ECOUTLOOK COM SERIES B 200,000.00 ECOUTLOOK COM SERIES C 299,999.57 ETERNITY, INC. 1,500 SH-A 150,000.00 ETERNITV, INC. NOTE 37,500.00 EVELOCITY CORP 1000000 P-B 500,000.00 EVELOCITY CORP 150,000 P-B 75,000.00 EVELOCITY CORP 18345.2 P-B 18,345.20 EVELOCITY CORP 300,000 P-B 300,000.00 EVELOCITY CORP 850,000 P-B 850,000.00 FLASHFIND CORP 150,000 P-B 112,500.00 FLASHFIND CORP NOTE 3/01 75,000.00 FLASHFIND CORP NOTE 5101 75,000.00 FLASHFIND CORPORATION 250,000.00 HOSTCENTRIC 54,347 SH-B 249,996.20 INDX SOFTWARE 18588/SMH-JT 50,001.72 LOMBARDI SOFT 7500S/SMH-JT 75,000.00 MRS. FIELDS HOLDING CO. 81,000.00 NETVERSANT 125,000/SMH-JT 500,000.00 OLD BALDY CORP 250 SHS 28,360.00 OLD BALDY CORP 33 SHS 12,000.00 December 21, 2001 LAY-G32 1726 .BF002-00898 ============= Page 13 of 19 ============= December 21, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 Balance PHOTOFETE.COM CONVERT NOTE 123,103.12 QUESTIA MEDIA 12,295SH 40,327.60 QUESTIA MEDIA 12,821SH 42,052.88 QUESTIA MEDIA 1294297SH-B 4,245,294.16 QUESTIA MEDIA 558,306 SH-A 1,831,243.68 QUESTIA MEDIA 647,148SH-C 2,122,645.44 SMH AGENCY 20-A/SMH-JT 68,000.00 Total Privately-Held Stock 13,212,220.37 Corporate Bond-Convertible EARTHCARE CO 1534SH/SMH-JT EARTHCARE CO I SH-2/SMH-JT EARTHCARE CO ISH/SMH-JT EARTHCARE CO 2531SIVSMH-JT EARTHCARE CO 2594SH/SMH-JT EARTHCARE CO 2688SFFSMH-JT EARTHCARE CO 2756SH/SMH-JT EARTHCARE CO 2794SH/SMH-JT EARTHCARE CO 2833/SMH-JT EARTHCARE CO 2967/SMH-JT EARTHCARE CO DEB/SMH-JT LAKEWOOD SPORT CONV/SMH-JT LAKEWOOD SPORT-1/SMH-JT LAKEWOOD SPRT CONV2/SMH-JT Total Corporate Bond-Convertible 1,53 4.00 1.00 1.00 2,531.00 2,594.00 2,68 8.00 2,756.00 2,794.00 2,83 3.00 2,967.00 100,000.00 52,250.00 52,250.00 30,041.00 255,240.00 GS 1999 Exchange Funds: GS 1999 EXCHFND/GS-61 4,938,006.13 Total GS 1999 Exchange Funds: 4,938,006.13 Family Partnerships: KLL & LPL FAMILY PTRNS 415,895.00 KLL & LPL INVESTMENT PTRNS 3,478,673.00 Total Family Partnerships: 3,894,568.00 Other Investments: BBT PARTNERS, L.P. 250,000.00 BROADWING, LLC 162,331.00 CAPRICORN INVESTORS II LP 510,441.00 CAPRICORN INVESTORS III 378,855.00 CARSON PRIV CAP EUROPE LP 1,254,212.00 CHAMPION L.L.C/SMH-JT 96,812.00 CHASE CAP PTRS PRV FUND 2,238,950.65 CORPORATE OPPT FUND/SMH-JT 347,250.00 CPC YELL, L.P. 250,000.00 Page 11 LAY-G32 1727 _BF002-00899 ============= Page 14 of 19 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 Balance ENVIR OPP 500,000SH/SMH-JT 213,000.00 ENVIRON OPP FUND II/SMH-JT 125,200.00 GENESIS PARKLP 95,878.00 HOUSTON NFL HOLDINGS 2.5% 3,993,705.00 LAZARD TECH PTRS II LP 371,418.00 LOMBARDI LLC/SMH-JT 40,832.50 MURPHREE VENTURE PTRS LP 120,610.00 MV PARTNERS 250,000.00 MV PTRNS-CYBER DIALOGUE 346,478.00 SANDERS OPPORT FUND/SMH-JT 940,744.87 SMH CERI, LLC/SMH 66,150.00 SMH INDX LLC/SMH-JT 10,928.60 SMH LIFE SCIENCES/SMH-JT 125,000.00 STERLING GROUP I LP 415,015.85 TACONIC CAPITAL PTRS LP 2,722,705.00 TCW WESTBRIDGE VENTURES 254,799.77 VANGUARD VII LP 853,938.00 WESTTXASSOCIATES, LP 50,475.00 Total Other Investments: 16,485,730.24 TOTAL LONG-TERM INVESTMENTS 76,173,625.25 RETIREMENT/DEFERRED ASSETS IRA: FIRST UNION-IRA/KLL-FTU 45,410.94 Total IRA 45,410.94 IRA/Spouse: FIRST UNION-IRA/LPL-FTU 45,445.18 Total IRA/Spouse: 45,445.18 Retirement Plan: ENRON RO-IRA/FTU-56 21,220.42 ENRON ESOP 31.55 ENRON SAV RO MMA/FTU-56 85,391.96 ENRON SAVINGS 401K 4,963.74 ENRON-RETIREMENT ** FID GROWTH CO 401(KYKLL 18,957.35 FID MAGELLAN 401(K)/KLL 55,184.39 FID OTC 401(K)/KLL 10,322.21 FID OVERSEAS 401(K)/KLL 20,029.00 KEOGH MMA/PW-18 2,348.34 KEOGH MUNDER TECH/PW-18 140,388.16 Total Retirement Plan: 358,837.13 December 21, 2001 Deferred Compensat'n Plan ** Information unavailable at this time. Page 12. LAY-G32 1728 BF002-00900 ============= Page 15 of 19 ============= Kenneth L. & Lin is P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 ELI LILLY DEFERRED COMP ENRON DEFERRED COMP-85 ENRON DEFERRED COMP-94 ENRON PHANTOM STOCK DEF HNG PLAN-85 TCW DEFERRED COMP Total*Deferred Compensat'n Plan: TOTAL RETIREMENT/DEFERRED ASSETS PERSONAL/NON-EARNING ASSET Automobile(s): 00 MERCEDES G500 LWB 00 MERCEDES ML55 00 RED JEEP WRANGLER 00 SILVER JEEP WRANGLER 00 YELLOW JEEP WRANGLER 01 GMC DENALI 01 GRAND CHEROKEE 92 4WD JEEP CHEROKEE 93 MERCEDES 600SL 95 LT SUBURBAN CHEVY 96 LAND ROVER 97 SUBURBAN CHEVY Total Automobile(s): Home Furnishings: HOME FURNISIV2514AVALON HOME FURNISHINGS/ASPENI HOME FURNISHINGS/ASPEN2 HOME FURNISHINGSIASPEN3 HOME FURNISHINGSB-3429 HOME FURNISHINGSB-3431 HOME FURNISHINGSB-3433 HOME FURNISHINGS/HUNT Total Home Furnishings: Other Vehicles & Equip: BW 21' OUTRAGE BOAT DUFFY 18'-I DUFFY 18'-U HURRICANE 19' SUPER SPORT BOAT 1997 Total Other Vehicles & Equip: TOTAL PERSONAL/NON-EARNING ASSET TOTAL ASSETS Balance 1,480,941.78 ** ** 83,604.00 31,947.87 1,596,493.68 2,046,186.93 149,176.18 73,348.19 20,400.00 20,400.00 20,400.00 48,272.40 37,801.28 7,400.00 40,000.00 13,000.00 30,000.00 15,280.15 475,478.20 1,53 6.28 138,984.11 264,641.69 553.86 80,833.15 196,815.63 106,522.74 2,222,348.51 3,012,235.97 49,327.00 19,098.00 19,098.00 22,695.14 33,502.74 143,720.88 3,631,435.05 102,127,199.18 December 21, 2001 **InformatIon unavailable at this time. Page 13, LAY-G32 1729 BF002-00901 ============= Page 16 of 19 ============= December 21, 2001 Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 Balance LIABILITIES CURRENT LIABILITIES Notes Payable: COMPASS BANKLOC 789,871.12 ENRON CORP. LOAN 7,500,000.00 Total Notes Payable: 8,289,871.12 Security Deposits: SEC DEPOSIT/Z-1856MAR 125.00 SEC DEPOSIT/Z- 1918SR 850.20 SEC DEPOSIT/Z-MCDUF 393.98 Total Security Deposits: 1,369.18 Margin Acct Liability. FIRST UNION MARGIN/FTU-52 1,639,427.15 Total Margin Acct Liability: 1,63 9,427.15 Other Current Liabilities: 2001 PERSON PROP TAX LIAB EST 2001 INCOME TAX LIAB EST 01 MILAND PROP TX LIAB Total Other Current Liabilities: TOTAL CURRENT LIABILITIES 278,371.85 6,300,000.00 88,150.00 6,666,521.85 16,597,189.30 LONG-TERM LIABILITIES Home Mortgage: BANK OF AMER/HUNT #2 LIEN 485,636.75 BANK OF AMER/HUNT #3 LIEN 486,924.55 BANK OF AMER/HUNTINGDON 4,323,182.20 Total Home Mortgage: 5,295,743.50 Other Real Estate Mtge: BANK OF AM/ASPEN2 4,239,352.70 BANK OF AM/ASPEN3 5,464,352.60 BANK OF AMER/2403AVALON 832,930.44 BANK OF AMER/2514 AVALON 225,000.00 BANK OF AMER/ASPENI 1,488,695.66 BANK OF AMER/ASPEN4 1,200,000.00 BANK OF AMERB-3429 234,107.11 BANK OF AMERB-3433 519,766.30 BANK OF AMER/REBA 314,868.97 CITICORP MORTGAGE/B-3431 168,357.71 Total Other Real Estate Mtge: 14,687,431.49 Page 14 LAY-G32 1730 _BF002-00902 ============= Page 17 of 19 ============= Kenneth L. & Linda P. Lay BALANCE SHEET ANALYSIS As of: November 30, 2001 Balance Investment Liabilities: BANK OF AMER/GALV LOTS BANK OF AMER/WESTGATE LOT BK OF AM/CREDIT FACILITY Total Investment Liabilities: Deferred Tax Liabilities: DEF TAX LIAB-STK OFT ONLY Total Deferred Tax Liabilities: TOTAL LONG-TERM LIABILITIES BUSINESS LIABILITIES Employer Taxes/Bus: FIT WITHHELD-EE (TX) FIT WITHHELD-LPL EE(TX) MEDIC WITHHELD-LPL EE(TX) MEDIC WITHHELD-EE (TX) SIT WITHHELD-EE (HH-CO) SOC SEC WITHHELD-EE (TX) SOC SEC WITHHELD-LPL (EE) Total Employer Taxes/Bus: Accrue Social Sec Tax/Bus: MEDIC PAYABLE-ER (TX) MEDIC PAYABLE-LPL ER(TX) SOC SEC PAYABLE-ER (TX) SOC SEC PAYABLE-LPL ER(TX) Total Accrue Social Sec Tax/Bus: TOTAL BUSINESS LIABILITIES TOTAL LIABILITIES NET WORTH TOTAL NET WORTH TOTAL LIABILITIES AND NET WORTH 88,824.87 191,25 0.00 1,925,000.00 2,205,074.87 74,623.00 74,623.00 22,262,872.86 76,290.86 5,643.00 631.37 9,064.72 694.00 25,992.63 2,699.52 121,016.10 9,062.85 631.37 25,992.63 2,699.52 38,386.37 159,402.47 39,019,464.63 63,107,734.55 102,127,199.18 December 21, 2001 LAY-G32 1731 Page 15 LBF002-00903 ============= Page 18 of 19 ============= Ker, and Linda Lay Balance Sheet Comparison November 30, 2001 Ken and Linda have guaranteed a mortgage in the amount of $900,000 maturing on January 1, 2014 with an interest rate of 6.88% at Bank of America for their daughter, Robyn Vermeil. This loan is collateralized by property valued at $1,500,000+. Ken has guaranteed three secured notes for his sister, Sharon Lay. The notes in the name of Sharon Lay Productions, Inc. are as follows, $275,000 that matured on October 23, 2001, $275,000 maturing on February 14, 2002 and a construction loan in the amount of $1,230,000 maturing on January 17, 2003. These loans all have an interest rate of 30-Day LIBOR + 1.5% and are collateralized by residential real estate. He has also guaranteed two unsecured notes, one in the amount of $50,000 for Sharon Lay Productions, Inc, that matures February 21, 2002 and one in the amount of $100,000 for Sharon S. Lay which matures September 25, 2002. Linda has guaranteed a note secured by a 2000 Toyota Avalon in the amount of $26,949 and a note secured by a 2001 Toyota in the amount of $19,381. Linda has guaranteed a note in the amount of $130,000 maturing November 28, 2005 with an interest rate of 8.15% for Randy Gray. This loan is secured by residential real estate in Galveston. Ken and Linda have guaranteed an unsecured $6,000,000 line of credit for MILAND Investments, L.L.C. at Bank of America. The line of credit matures on April 5, 2002 with a floating interest rate of 30-Day LIBOR plus 1.25%. The amount currently funded on the line of credit is $4,936,750. On September 1, 2001, Ken and Linda have guaranteed an unsecured $1,000,000 line of credit for KLL & LPL Investments, Ltd. at Bank of America. The line of credit matures on September 1, 2002 with a floating interest rate of 30-Day LIBOR plus 1.25%. The amount currently funded is $0. Kenneth L. Lay, a preferred limited partner, executed certain indemnification agreements with the general partners of the following partnerships: Haines Apartments, Ltd., Nolana, Ltd., Resaca De Las Palmas, Ltd. and SAJG Kirby Braeswood, Ltd. The amount of the contingent liability, if any, has not been determined. Ken Lay has been named as a party defendant in several shareholder derivative actions against Enron Corp. and others. The outstanding commitments for various investments total $ 10,001,497. LAY-G32 1732 _BF002-00904 ============= Page 19 of 19 ============= List of Outstanding Commitments As of November 30, 2001 Total Outstanding PERSONAL Commitment Total Invested Commitment Broadwing, LLC 96,000 48,000 48,000 Capricorn Investors II LP 500,000 500,000 - Capricorn Investors III LP 750,000 402,811 347,189 Carson Private European Fund 1,625,000 1,300,000 325,000 Chase Cap Ptrs Private Eq Fund 5,000,000 2,476,864 2,523,136 Corporate Opportunities Funds 750,000 375,000 375,000 Environmental Opportunities Fund 500,000 475,000 25,000 Environmental Opportunities II Fund 400,000 216,000 184,000 Genesis Park LP 500,000 144,758 355,242 Jester Apartments-Slidell, LA 350,000 180,000 170,000 Lazard Technology Partners II LP 1,000,000 389,365 610,635 Murphree Venture Ptners (10/24-Rev) 125,000 130,000 (5,000) SMH LifeSciences Opportunity Fund 250,000 125,000 125,000 SRE Properties Partnership No. 1, L.P. - - - Sterling Group Partners I, L.P. 2,500,000 437,500 2,062,500 Vanguard VII LP 3,000,000 900,000 2,100,000 Westbridge Ventures, L.P. 1,000,000 273,830 726,170 WestTx Associates, L.P. 80,100 50,475 29,625 SUBTOTAL $ 18,426,100 $ 8,424,603 $ 10,001,497 List of Scheduled Commitments: Houston NFL Holdings (10/31-Revised) 5,000,000 5,000,000 - TOTAL $23,426,100 $ 13,424,603 $ 10,001,497 LAY-G32 1733 LBF002-00905