Washington ? Enron executives urged employees to invest all their retirement money in Enron stock, a Democratic congressman said Thursday after obtaining a videotape of a company meeting.

Rep. Henry Waxman said a video from 1999 seems to conflict with recent Senate testimony by Enron executive Cindy Olson, who testified Feb. 5 that the company was legally prohibited from giving investment advice to employees.

According to the congressman, a woman who is identified only as “Cindy” on the video responds “absolutely” when asked by an employee, “should we invest all of our 401(k) in Enron stock?”

Enron executive Jeffrey Skilling nodded his head in agreement to the word “absolutely,” according to Waxman. The California Democrat said that Enron Chairman Kenneth Lay, chief operating officer Skilling and vice chairman Joseph Sutton were at the podium when the question was asked and answered.

Calls to Enron headquarters in Houston and to the office of Skilling’s spokeswoman were not immediately returned.

Waxman outlined the contents of the videotape in a letter to Sen. Joseph Lieberman, who chairs the Senate Government Affairs Committee.

Olson told the Senate panel that Enron would have encouraged employees to diversify their holdings.

“We tried to talk about diversification with respect to choice in the 401(k),” Olson testified. But “there’s a fine line that employers have with respect to giving investment advice.”