EXHIBIT 99.1

                                                                     Mark Palmer
                                                                  (713) 853-4738

ENRON, CREDITORS REACH TENTATIVE AGREEMENT; ASK COURT FOR SHORT EXTENSION TO
FILE PLAN OF REORGANIZATION

FOR IMMEDIATE RELEASE: Friday, June 27, 2003

         HOUSTON: Enron announced today that the company, its Official Unsecured
Creditors' Committee and the Enron North America Examiner have filed a joint
motion with the Bankruptcy Court of the Southern District of New York requesting
an extension until July 11 to file the company's Plan of Reorganization.

         "This very short extension, if granted, will allow us to finalize an
agreement we have reached in principle between the official representative of
all our creditors and the court-appointed plan facilitator of the Enron North
America estate," said Stephen F. Cooper, Enron acting CEO and chief
restructuring officer. "We believe that the extension will ultimately expedite
our court proceedings, and we are hopeful that the court will approve our
motion. We are very pleased with the prospect that the plan will have the
support of both the Creditors' Committee and the ENA Examiner."

         If the joint motion is granted by the Bankruptcy Court on June 30, the
company will file its plan of reorganization and disclosure statement by
July 11.

         Enron's Internet address is www.enron.com.

                                      ####