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EnronOnline® Passes $50 Billion Milestone
FOR IMMEDIATE RELEASE: Thursday, June 1, 2000
HOUSTON – Enron announced today that transaction value on EnronOnline has passed the $50 billion milestone for calendar year 2000.
EnronOnline is a principal-based electronic transaction platform that offers real-time pricing for commodities including electricity, natural gas, coal, pulp and paper, clean air credits, bandwidth, weather and credit derivatives, petrochemicals and plastics, and oil and refined products. The site allows commodities consumers and producers from around the world to buy from or sell to Enron with the click of a mouse.
“In less than 6 months, EnronOnline has grown into the world’s largest e-commerce website,” said Louise Kitchen, managing director of EnronOnline. “For the past several days, transaction value has exceeded $1.5 billion per day.”
Enron launched EnronOnline on Nov. 29, 1999, and currently more than half of Enron’s wholesale transactions are conducted online. In its first 26 weeks, more than 130,000 transactions have been conducted on EnronOnline. The e-commerce site exceeded yearly projections for 2000 during the first quarter.
Enron is one of the world’s leading electricity, natural gas and communications companies. The company, which owns approximately $37 billion in energy and communications assets, produces electricity and natural gas, develops, constructs and operates energy facilities worldwide, delivers physical commodities and financial and risk management services to customers around the world, and is developing an intelligent network platform to facilitate online business. Fortune magazine has named Enron "Most Innovative Company" for five consecutive years, the top company for "Quality of Management" and the second best company for "Employee Talent." In addition, Enron ranks in the top quarter of Fortune's "Best 100 Companies to Work For in America." Enron’s Internet address is www.enron.com. The stock is traded under the ticker symbol “ENE.”
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For additional information please contact:
Mark Palmer
(713) 853-4738
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