Footnote 8

1596. Enron’s injuries as described in this Complaint resulted from fraud and/or malice onthe part of the Bank Defendants. When viewed objectively from the Bank Defendants’ standpoint,the acts and omissions described in this Complaint involved an extreme degree of risk at the timethey occurred, considering the probability and magnitude of the potential harm to Enron. The BankDefendants had an actual, subjective awareness of the risk to Enron posed by their acts andomissions, but they nevertheless proceeded with conscious indifference to Enron’s rights. Further,the acts and omissions described in this Complaint demonstrate a malicious, reckless, and/or willfuldisregard of Enron’s rights and welfare on the part of the Bank Defendants. The same acts andomissions also were aimed at the public generally and were taken by the Bank Defendants in utterdisregard of the public interest, including without limitation the interests of the many other entitiesthat were financially involved with Enron, as well as the rights and interests of the investing public.Therefore, in order to punish the Bank Defendants, to deter the Bank Defendants from repeating theacts and omissions described in this Complaint, to protect the public against similar acts andomissions in the future, and to serve as a warning to others, the Bank Defendants should be heldliable for exemplary or punitive damages.COUNT 76(Unlawful Civil Conspiracy;Enron Against All Bank Defendants)1597. The allegations in paragraphs 1 through 1596 of this Complaint are incorporatedherein by reference.1598. By virtue of the acts and omissions described in this Complaint, from 1997 through2001 the Bank Defendants conspired with the Insiders, and at least as to Citigroup, Chase, andBT/Deutsche Bank with the Insiders and Arthur Andersen, to manipulate and misstate Enron’sfinancial condition and to facilitate transactions between the Insiders and Enron in which theInsiders derived improper personal benefits. The Bank Defendants and the Insiders and, to the604041v1/007457-505-