Amount Recovered to Date Totals $13.276 Billion

October 1, 2007

Enron Creditors Recovery Corp., f/k/a Enron Corp., today announced its eighteenth distribution to creditors of Enron Creditors Recovery Corp. and its affiliated Debtor companies.  Today’s distribution to holders of allowed general unsecured claims and allowed guaranty claims (collectively, “Creditors”) totals approximately $1,744,800,000, consisting of cash of approximately $1,670,000,000 and Portland General Electric Company (“PGE”) Common Stock equivalents (in the form of cash) of approximately $74,800,000.

Since November 2004, Enron Creditor’s Recovery Corp. has returned approximately $13,276,000,000 to Creditors in twice-yearly distributions, in April and October, as well as in “catch-up” distributions paid on an interim basis every two months. This figure represents returns to Enron Corp. creditors that are greater than 200% of the original estimates in the disclosure statement.  Enron Creditors Recovery Corp. has generated this positive return through its careful efforts to monetize other assets and reduce overhead costs, as well as its diligence in recovering funds that were taken fraudulently. 

“Enron Creditors Recovery Corp. is very pleased by the substantial progress we have made to date in returning funds to creditors,” John Ray III, President and Chairman of the Board said. “Our work, however, is not finished, as multi-billion dollar claims against Citigroup and Deutsche Bank AG remain pending. The trial on these fraud and bankruptcy claims is set to begin in April 2008 and we are committed to taking all steps necessary to enable Enron Creditors Recovery Corp. to return billions more to our innocent creditors.”

Beginning with the August 2007 “catch-up” distribution, Enron Creditors Recovery Corp. is now distributing PGE Common Stock equivalents in the form of cash. On June 18, 2007, the DCR Overseers (as defined in the Plan of Reorganization) sold all 23,658,106 shares of PGE Common Stock held in the Disputed Claims Reserve (“DCR”) for $25.19 per share, after application of reasonable and customary underwriting fees and related expenses, as more fully described in the “Distribution Disclosure Notice” dated as of October 1, 2007, which is available at www.enron.com.  Enron Creditors Recovery Corp. will continue to make distributions based on the Plan Currency mix; however, the cash equivalent of shares that would have been distributed had the sale not occurred will be distributed.  The DCR currently consists of approximately $4,234,000,000 in cash and $423,000,000 of PGE Common Stock equivalents valued at the Plan value ($21.008 per share).

Additional details concerning this distribution are available at the Enron Creditors Recovery Corp. website, www.enron.com, identified as “Distribution Disclosure Notice.”