EXHIBIT 99.1

                                                          ENRON
[ENRON LOGO]
                                                          P.O.Box 1188
                                                          Houston, TX 77251-1188

                                                          NEWS RELEASE

                                                          Karen Denne
                                                          (713) 853-9757

ENRON RECEIVES BANKRUPTCY COURT APPROVAL
FOR JOINT CHAPTER 11 PLAN

FOR IMMEDIATE RELEASE: Wednesday, July 14, 2004

         HOUSTON - Enron Corp. announced that the U.S. Bankruptcy Court of the
Southern District of New York today approved the company's Joint Chapter 11
Plan.

         "Undoubtedly, this was an extremely complex bankruptcy. Today's court
approval acknowledges not only the tremendous amount of work that has been
accomplished during the last two and a half years, but also the overwhelming
support of our economic constituents," said Stephen F. Cooper, Enron's acting
CEO and chief restructuring officer. "We still have certain tax and change of
control issues that need to be resolved before the effective date, but we will
continue working diligently to address those issues so that we can begin initial
distributions to our creditors as expeditiously as possible."

         Under the approved Joint Chapter 11 Plan, assuming the previously
announced sales of Portland General Electric and CrossCountry Energy are
consummated, Enron's creditors will receive a combination of cash and equity in
Prisma Energy International, Enron's international energy asset business. In
such case, the proportion of cash to equity is expected to be 92 percent cash
and 8 percent equity.

         At the conclusion of the claims reconciliation process, the allowable
claims against the company are expected to be approximately $63 billion, Cooper
said. The cash and equity assets available for ultimate distribution are
expected to be around $12 billion, he added, not including recoveries from
litigation.

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

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