To date Estate has returned total of $21.428 Billion

October 1, 2008

Enron Creditors Recovery Corp., f/k/a Enron Corp., today announced its twenty-fourth distribution to creditors of Enron and its affiliated Debtor companies.  Today’s distribution to holders of allowed general unsecured claims and allowed guaranty claims (collectively, “creditors”) totals approximately $828,900,000, consisting of cash of approximately $740,500,000 and Portland General Electric Company (“PGE”) Common Stock equivalents (in the form of cash) of approximately $54,400,000, plus interest, dividends and gains of $34,000,000.

“Today marks another important milestone in our efforts to maximize the distributions to creditors, as we are pleased to announce that all disputed claims have been successfully resolved and today we are returning the remaining funds from the Disputed Claims Reserve to creditors,” John J. Ray III, President and Chairman of the Board said.  “The Board of Directors is gratified by our continued ability to generate value for our creditors, with most now receiving returns approaching 52 cents on the dollar, vastly exceeding original estimates under the plan.”

Since November 2004, Enron Creditors Recovery Corp. has returned approximately $21,427,900,000 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, and certain special distributions.  Once all pending litigation is settled and various administrative tasks are completed to wind down the estate, Enron will make an additional final distribution to creditors, likely in 2009, of any remaining assets. 

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

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CAUTIONARY STATEMENT: Certain statements contained in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended.  Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and other statements that are other than statements of historical facts.  Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements.  Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include, but are not limited to, political developments affecting federal and state regulatory agencies, and developments with respect to the bankruptcy of Enron.  Except as required by law, Enron does not undertake any obligation to update any forward-looking statements.