HOUSTON -- Enron announced tonight that the auction of its wholesale trading operation is continuing as scheduled.

“Since the sealed bids were received on Monday, we have been negotiating with the parties,” said Enron Chief Financial Officer Jeff McMahon. “These discussions are expected to continue into the night. We hope to have a conclusion Friday morning, which would be announced when Enron plans to make a recommendation to the Bankruptcy Court.”

The Enron Creditors’ Committee is participating in the auction process.

“We are gratified by the interest from numerous parties in participating in the auction, and we are working to achieve an outcome that will be favorable to Enron stake holders and employees,” McMahon said. “We will continue to work diligently on all fronts to build the new Enron.”

Enron markets electricity and natural gas, delivers energy and other physical commodities, and provides financial and risk management services to customers around the world. Enron’s Internet address is www.enron.com. The stock is traded under the ticker symbol “ENE.”

This press release contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and that actual results could differ materially as a result of known and unknown risks and uncertainties, including: various regulatory issues, the outcome of the company’s Chapter 11 process, the outcome of the litigation discussed above, general economic conditions, future trends, and other risks, uncertainties and factors disclosed in the Company’s most recent reports on Forms 10-K, 10-Q and 8-K files with the Securities and Exchange Commission.