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RONNIE C. CHAN ELECTED TO ENRON CORP. BOARD OF DIRECTORS
FOR IMMEDIATE RELEASE: Thursday, July 25, 1996
HOUSTON - Enron Corp. announced today that Ronnie C. Chan has been elected to the Enron Corp. board of directors, effective August 9, 1996. Mr. Chan is chairman of the Hang Lung Development Group of Hong Kong, a $5.5 billion group of property investment, development and management firms listed on the Hang Seng Stock Index. Mr. Chan also founded and manages Morningside/Springfield Group, which has made over 60 investments in industrial companies in 16 countries in Asia, Europe and the U.S., and is chairman of Springfield Bank and Trust Limited of Gibraltar.
Mr. Chan serves on the boards of several publicly traded companies, including Standard Chartered Bank in London, and on the international advisory boards of Korn/Ferry International of Los Angeles and Northern Telecom Ltd of Ontario. He is a non-executive director of the Securities and Futures Commission of Hong Kong and a director of the Hong Kong Real Estate Developers Association.
"Enron stands to benefit significantly from Ronnie Chan's presence on the board of directors," said Kenneth L. Lay, chairman and chief executive officer. "Mr. Chan's insight into the securities and financial markets and his reputation as an international business leader with vast experience in Asian markets provide a strategic fit with Enron's worldwide business activities."
Mr. Chan is affiliated with numerous charity- and community-related organizations. He is a popular speaker at international conferences and has been featured in many financial and business publications. He holds an MBA from the University of Southern California and resides in Hong Kong with his wife and two children.
Enron Corp., one of the world's largest integrated natural gas companies with approximately $13 billion in assets, operates the largest natural gas transmission system in the Western Hemisphere and the second largest system in the world; is the largest purchaser and marketer of natural gas and the largest non-regulated marketer of electricity in North America; produces and markets natural gas liquids worldwide; owns 59 percent of Enron Oil & Gas Company, one of the largest independent (non-integrated) exploration and production companies in the United States; owns 59 percent of Enron Global Power & Pipelines L.L.C., which is owner and manager of operating power plants and natural gas pipelines around the world; and is one of the largest independent developers and producers of electricity in the world. Enron Corp. is traded under the ticker symbol, "ENE."
For additional information please contact:
Diane Bazelides
(713) 853-6285
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