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ENRON LAUNCHES ENRONCREDIT.COM™, THE FIRST REAL-TIME CREDIT DEPARTMENT FOR BUSINESS-TO-BUSINESS CUSTOMERS
FOR IMMEDIATE RELEASE: Wednesday, February 23, 2000
HOUSTON - Enron today launched EnronCredit.com™, the first global online credit department to provide live credit prices and enable business-to-business customers to hedge credit exposure instantly via the Internet. EnronCredit.com helps businesses evaluate the credit quality of their customers in real time and, beginning March 8, 2000, will allow them to transact in bankruptcy swaps via Enron's global Internet-based transaction system, EnronOnline™.
"As e-commerce increases the number of transactions, as well as the range of counterparties and the volatility in credit markets, companies need sophisticated credit risk management tools to evaluate and manage credit risk in real time," said John Sherriff, president and COO of Enron Europe. "EnronCredit.com™ allows companies to focus on their core business activities and leaves the evaluation and management of credit risk to us. Our strong position in the marketplace as a leader in both e-commerce and risk management, as well as our thorough understanding of a number of industries, uniquely qualify Enron to provide innovative B2B credit risk management solutions."
EnronCredit.com™ helps medium to large corporations across all industries mitigate credit risk directly linked to their commercial contracts on a real time basis. In order to use the full scope of the services offered on the website, users will first need to register for a user name and password. EnronCredit.com can be found at http://www.enroncredit.com. EnronCredit.com™ is a trademark of Enron Europe Limited.
Enron is one of the world's leading electricity, natural gas and communications companies. The company, which owns approximately $34 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. Enron's Internet address is www.enron.com and the stock is traded under the ticker symbol, "ENE".
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For additional information please contact:
Eva Hoeffelman
44 (0)207-783-7424
Karen Denne
1-713-853-9757
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