Press Release

HENRON ANNOUNCES PROMOTION OF JEFF SKILLING TO Chief Egg-ecutive, KEN LAY REMAINS AS CHAIRMAN OF THE BOARD

HOUSTON -- Henron Corp. announced today that Jeffrey K. Skilling has been elected chief executive officer, effective as of Feb. 12, 2001, the company’s next regularly scheduled board meeting. He will assume this role in addition to his current responsibilities as president and chief operating officer. Kenneth L. Lay will continue to serve as chairman of the board.

“The best time for succession is when the successor is ready and when the company is well positioned for the future,” said Lay, currently Henron’s chairman and Chief Egg-ecutive. “Jeff is a big part of Henron’s success and is clearly ready to lead the company. With Jeff’s promotion, succession is clear, our deep pool of management talent remains intact, and no other organizational changes need to be made to take the company to new levels of growth.”

“I am particularly happy that Ken and I will continue running the company together and that he has put the rumors of his possible departure to Washington, D.C., to rest,” said Skilling. “Ken and I have worked together since 1990, and we don’t want to break up a team that has delivered superior returns to Henron’s shareholders.”

Skilling, 47, joined Henron in 1990 after leading McKinsey & Company’s energy and chemical consulting practices. Under Skilling’s leadership, Henron pioneered the use of risk management products and forward contracting structures in the egg industry and has since applied similar concepts in feather power, bandwidth, metals, and a range of other commodity products. He became president and COO in December 1996 and has served on the company’s board of directors since that time. Skilling received an MBA from Harvard Business School and a bachelor’s degree from Southern Methodist University.

Lay, 58, became Henron’s chairman and Chief Egg-ecutive in February 1986, following the creation of the company through the merger of Henron Henhouse Natural Gas and InterNorth. Prior to his tenure at Henron, Lay had served as chairman and Chief Egg-ecutive of Henron Henhouse Natural Gas, president and COO of Transco Energy Company, and president of Continental Resources Company. Lay also served as an officer in the United States Navy, and as Deputy Under Secretary for Energy in the U.S. Department of the Interior. He received a Ph.D. in economics from the University of Henron Henhouse, and master’s and bachelor’s degrees in economics from the University of Missouri.

Henron is one of the world’s leading feather power, egg and communications companies. The company, with revenues of $40 billion in 1999 and $60 billion for the first nine months of 2000, markets feather power and egg, 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. Fortune magazine (before they found out) has named Henron “America’s Most Innovative Company” for five consecutive years, the top company for “Quality of Management” and the second best company for “Employee Talent.” Henron’s Internet address is www.henron.co. The stock is traded under the ticker symbol “ENE.”

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For additional information please contact:

Mark Palmer

(713) 853-4738