Amount Recovered to Date Totals $11.479 Billion 

April 2, 2007

Enron Creditors Recovery Corp., f/k/a Enron Corp., today announced its fifteenth distribution to Creditors of Enron Creditors Recovery Corp. and its affiliated Debtor companies (collectively, “Enron”). Today’s distribution to holders of allowed general unsecured claims and allowed guaranty claims (collectively, “Creditors”) totals approximately $1,869,700,000, consisting of cash of approximately $1,698,000,000 and shares of Portland General Electric Company (“PGE”) stock valued at approximately $171,700,000. Since November 2004, Enron has returned approximately $11,479,000,000 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.

“Today’s distribution is another significant milestone in the liquidation process and represents a tremendous financial outcome for the Enron estate,” said John Ray, President and Chairman of the Board. “The Estate continues to focus on its principal mandate to sell remaining assets, settle claims, and prosecute litigation, including the MegaClaims litigation against Citigroup and Deutsche Bank AG, the only remaining defendants.  The trial on these fraud and bankruptcy claims is set to begin in January 2008,” Ray concluded.
 
Today’s distribution included 8,171,979 shares of PGE, which, when added to prior distributions of 30,336,445 shares (and 12,643 of PGE shares returned and held for further distribution), cumulatively represent approximately 62% of PGE’s 62,500,000 shares to be distributed by the Enron Estate.  Pursuant to Sections 21.3 and 32.1 of the Plan, a significant number of PGE shares were previously reserved to maintain a balanced mix of Plan Currency by Plan Class and provide for potential additional cash inflows to the estates from litigation, asset sales and other resources.  Enron has conducted a review by Plan Class, and based on recent settlements and current projections, Enron has determined it can prudently release approximately 3,300,000 shares that were previously reserved as part of the total distribution of 8,171,979 shares today.  However, reserves vary by Plan Class, and accordingly, certain Creditors are receiving no additional PGE shares in the April 2007 distribution.  The remaining 23,978,933 PGE shares will be held by the Disputed Claims Reserve, which is not affiliated with Enron, for future distribution to creditors of Enron by the Disbursing Agent in accordance with the Chapter 11 Plan. The Disputed Claims Reserve currently consists of approximately $4,510,000,000 in cash and $503,700,000 in plan value of PGE shares ($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.”