NEXSTAR FINANCIAL CORPORATION Introduction to NEXSTAR FINANCIAL CORPORATION for ENRON CORPORATION OCTOBER 2000

Company Profile Founded on May 12, 1999 Nexstar is a full service Mortgage Bank, focused on serving corporations and co-brand partners Headquarters – St. Louis, MO Employees – 145 at Sept. 15, 2000 Equity Investors – Kohlberg Kravis Roberts and Company (KKR) and Management Team Licensing – 50 states by 10/00 Subsidiaries eoTek, LLC – Evergreen, CO – Industry leading web based software development firm Nexstar Financial Ventures, LLC – Strategic equity investments Strategic Business Partners – Fannie Mae, IBM, Lucent/Avaya, Razorfish, Siebel

History The management team has a history of changing the mortgage industry While at Prudential Home Mortgage in the 1980’s and 1990’s, the Company’s management team pioneered the use of innovative origination technology through centralized call centers that today is the standard in the industry Nexstar was founded on the proposition that an entirely new paradigm is necessary for financial services overall and the mortgage process in particular eoTek, LLC, a web based software development company, was acquired in September, 1999, positioning Nexstar to control the development of its proprietary state-of-the-art technology platform Nexstar publicly launched in June, 2000

Nexstar Technology As an early adopter of advanced technology to reinvent the mortgage process, Nexstar delivers a personalized home financing experience powered by the most advanced multi-media customer relationship technologies We are the first mortgage company to achieve full integration between the call center and web site, allowing for simultaneous phone/web interaction We provide multi-media access including Internet, phone, web chat, e-mail and fax Our website provides full functionality: application, loan decision, rate lock, loan status and ongoing servicing Our fulfillment process is nearly paperless, through our digital office environment We deliver end-to-end (origination through servicing) high tech, high touch fulfillment The security and privacy of our customers’ data is protected with the latest tools

Relocation Specialists Nexstar is Equipped with and Skilled at the Basics Retain servicing on relocation loans Preferential relocation rates Direct Bill authorized closing costs Administer subsidy programs Financing for non-permanent resident aliens Understand and accommodate: Multiple policy levels Home buyouts/closing assistance Corporate-sponsored second mortgage Equity advance Reports of account activity Toll-free customer service and extended office hours

Relocation Specialists Beyond the Basics to The Next Generation Fully integrated call center and web site Nearly paperless, digital office environment Fully functional web site – origination, approval, status Customized private client web site Automated relocation notification with instant transferee contact Online client reports Online Invoice Information Personalized relocation web pages for transferees Nexstar Live No lender-retained fees Abbreviated appraisals Closing available 10 days after application

Relocation Specialists “No Junk” Fee Structure Reduces Client Expense Retained by Nexstar: $ 0 Processing, Underwriting, Commitment, Document Preparation Pass-Through Fees for Other “800” Category Services: $ 15 Credit Report $ 11 Flood Certification $ 67 Tax Service $275 Average Appraisal--Actual Cost is Charged

In Home Financing Benefits for It’s What’s Nextsm… In Home Financing Benefits for Enron Corporation’s Employees For more information contact: Michele Hermansen National Account Director 888-933-8839 mhermansen@nexstarhome.com