June 1, 2007

Enron Creditors Recovery Corp. announced today that it reached an agreement with Credit Suisse International and Credit Suisse Securities (USA) LLC (“Credit Suisse”) to settle the equity transactions adversary proceeding that Enron filed against Credit Suisse in the Enron bankruptcy case. According to the terms of the agreement, Credit Suisse will pay Enron $61.5 million in cash. Credit Suisse in entering into the settlement denies any liability. With this settlement, all bankruptcy proceedings between Enron and Credit Suisse are resolved.

Commenting on the settlement, John J. Ray III, Enron’s Board Chairman, said, “We are pleased with this settlement reached with Credit Suisse and look forward to successfully resolving the remaining equity transactions cases.”

Equity transactions cases remain pending against UBS AG and Bear, Stearns. Enron’s complaint against Credit Suisse includes claims asserting preferences, fraudulent transfers and/or conveyances, and recovery of payments pursuant to other applicable federal and state law.

The Credit Suisse settlement remains subject to the approval of the United States Bankruptcy Court for the Southern District of New York.

Enron is represented in this matter by Venable LLP and Togut, Segal & Segal LLP.

Enron’s Internet address is www.enron.com.