Enron Corp. Registers As Public Utility Holding Company
FOR IMMEDIATE RELEASE
Washington, D.C., March 10, 2004 - On March 9, 2004, Enron Corp. registered with the U.S. Securities and Exchange Commission making it a registered holding company under the Public Utility Holding Company Act of 1935. As a registered holding company, Enron and its subsidiaries became subject to the Commission's jurisdiction under the Public Utility Holding Company Act of 1935. Subsequently, the Commission approved three orders regarding Enron and its subsidiaries. One order, Holding Company Act Release Number 35-27810, approves their plan of reorganization under Chapter 11 of the Bankruptcy Code. The second order, Holding Company Act Release Number 35-27809, authorizes Enron and its subsidiaries to engage in certain business transactions through July 31, 2005. Finally, the third order, Holding Company Act Release Number 35-27811, grants Enron's motion for leave to withdraw a previously filed application for exemption under the Public Utility Holding Company Act of 1935 and to dismiss the administrative proceeding the Commission had instituted with regard to that application. These releases have been posted to the Commission's Web site at www.sec.gov.
The order authorizing the plan of reorganization also permits Enron to solicit in the Bankruptcy Court the votes of Enron's creditors for acceptances or rejections of the plan. As a registered holding company, any sale or other disposition by Enron of Portland General Electric Company, a public utility subsidiary of Enron under the Public Utility Holding Company Act, will be subject to the approval of the Commission.