##### Table of Contents



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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



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FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended June 30, 2000

|            |  |                                                                                                               |  |                   
|----------- |  | ------------------------------------------------------------------------------------------------------------- |  | ------------------
|            |  | Registrants; State of                                                                                        
|Commission  |  | Incorporation; Address; and                                                                                   |  | I.R.S. Employer   
|File Number |  | Telephone Number                                                                                              |  | Identification No.
|            |  |                                                                                                               |  |                   
|1-11607     |  | DTE Energy Company
(a Michigan corporation)
2000 2nd Avenue
Detroit, Michigan 48226-1279
313-235-4000         |  | 38-3217752        
|           
|           
|           
|           
|1-2198      |  | The Detroit Edison Company
(a Michigan corporation)
2000 2nd Avenue
Detroit, Michigan 48226-1279
313-235-8000 |  | 38-0478650        

Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13
or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period
that the registrants were required to file such reports), and (2) have been subject to such filing
requirements for the past 90 days. Yes [X] No
[   ]

At July 31, 2000, 142,658,064 shares of DTE Energys Common Stock, substantially all held by non-affiliates,
were outstanding.

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##### Table of Contents



DTE ENERGY COMPANY
and
THE DETROIT EDISON COMPANY
FORM 10-Q
For The Quarter Ended June 30, 2000

This document contains the Quarterly Reports on Form 10-Q for the quarter ended
June 30, 2000 for each of DTE Energy Company and The Detroit Edison Company.
Information contained herein relating to an individual registrant is filed by
such registrant on its own behalf. Accordingly, except for its subsidiaries,
The Detroit Edison Company makes no representation as to information relating
to any other companies affiliated with DTE Energy Company.

TABLE OF CONTENTS

|                                                                                      |  |           |  |                       |  |                                                            |  |    |      |    | 
|------------------------------------------------------------------------------------- |  | --------- |  | --------------------- |  | ---------------------------------------------------------- |  | -- | ---- | -- | 
|                                                                                      |  |           |  |                       |  |                                                            |  |    | Page
|                                                                                      |  |           |  |                       |  |                                                            |  |    |     
|Definitions                                                                           |  |           |  | 3                     | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|Quarterly Report on Form 10-Q for DTE Energy Company:                                
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  | Part I -  |  | Financial Information |  |                                                            |  | 4  |     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  | Item 1 -              |  | Financial Statements                                       |  |    |      | 4  | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  | Item 2 -              |  | Managements Discussion and Analysis of Financial          | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  |                       |  | Condition and Results of Operations                        |  |    |      | 23 | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  | Item 3 -              |  | Quantitative and
Qualitative Disclosures About Market Risk |  |    |      | 29 | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  | Part II - |  | Other Information     |  |                                                            |  | 31 |     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  | Item 4 -              |  | Submission of Matters to a Vote of Security Holders        |  |    |      | 31 | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  | Item 5 -              |  | Other Information                                          |  |    |      | 32 | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|Quarterly Report on Form 10-Q for The Detroit
Edison Company:                        
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  | Part I -  |  | Financial Information |  |                                                            |  | 33 |     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  | Item 1 -              |  | Financial Statements                                       |  |    |      | 33 | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  | Item 2 -              |  | Managements Discussion and Analysis of Financial          | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  |                       |  | Condition and Results of Operations                        |  |    |      | 33 | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  | Part II - |  | Other Information     |  |                                                            |  | 33 |     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  | Item 5 -              |  | Other Information                                          |  |    |      | 33 | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|Quarterly Reports on Form 10-Q for DTE Energy Company
and The Detroit Edison Company:
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                      |  |           |  | Item 6 -              |  | Exhibits and Reports on Form 8-K                           |  |    |      | 35 | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|Signature Page to DTE Energy Company Quarterly Report on
Form 10-Q                    |  |           |  | 45                    | 
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|Signature Page to The Detroit Edison Company Quarterly
Report on Form 10-Q            |  |           |  | 46                    | 





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##### Table of Contents






DEFINITIONS

|                       |  |                                                                                                                                                                                                                                                                                                
|---------------------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Annual Report          |  | 1999 Annual Report to the Securities and Exchange Commission on Form 10-K for DTE Energy Company or
The Detroit Edison Company, as the case may be                                                                                                                                             
|                      
|                      
|                      
|                      
|Annual Report Notes    |  | Notes to Consolidated Financial Statements appearing on pages 43 through 70 and 74 through 77 of the
1999 Annual Report to the Securities and Exchange Commission on Form 10-K for DTE Energy Company and
The Detroit Edison Company, as the case may be                                       
|                      
|                      
|                      
|                      
|ABATE                  |  | Association of Businesses Advocating Tariff Equity                                                                                                                                                                                                                                             
|                      
|                      
|                      
|                      
|Company                |  | DTE Energy Company and Subsidiary Companies                                                                                                                                                                                                                                                    
|                      
|                      
|                      
|                      
|Detroit Edison         |  | The Detroit Edison Company (a wholly owned subsidiary of DTE Energy Company) and Subsidiary Companies                                                                                                                                                                                          
|                      
|                      
|                      
|                      
|DTE Capital            |  | DTE Capital Corporation (a wholly owned subsidiary of DTE Energy Company)                                                                                                                                                                                                                      
|                      
|                      
|                      
|                      
|Electric Choice        |  | Gives all retail customers equal opportunity to utilize the transmission system which results in
access to competitive generation resources                                                                                                                                                    
|                      
|                      
|                      
|                      
|EPA                    |  | United States Environmental Protection Agency                                                                                                                                                                                                                                                  
|                      
|                      
|                      
|                      
|FERC                   |  | Federal Energy Regulatory Commission                                                                                                                                                                                                                                                           
|                      
|                      
|                      
|                      
|kWh                    |  | Kilowatthour                                                                                                                                                                                                                                                                                   
|                      
|                      
|                      
|                      
|MCN                    |  | MCN Energy Group Inc.                                                                                                                                                                                                                                                                          
|                      
|                      
|                      
|                      
|MPSC                   |  | Michigan Public Service Commission                                                                                                                                                                                                                                                             
|                      
|                      
|                      
|                      
|MW                     |  | Megawatt                                                                                                                                                                                                                                                                                       
|                      
|                      
|                      
|                      
|MWh                    |  | Megawatthour                                                                                                                                                                                                                                                                                   
|                      
|                      
|                      
|                      
|Note(s)                |  | Note(s) to Condensed Consolidated Financial
Statements (Unaudited) appearing herein                                                                                                                                                                                                            
|                      
|                      
|                      
|                      
|PSCR                   |  | Power Supply Cost Recovery                                                                                                                                                                                                                                                                     
|                      
|                      
|                      
|                      
|Quarterly Report       |  | Quarterly Report to the Securities and
Exchange Commission on Form 10-Q for DTE
Energy Company or The Detroit Edison Company,
as the case may be, for the quarter ended
March 31, 2000                                                                                                         
|                      
|                      
|                      
|                      
|Quarterly Report Notes |  | Notes to Condensed Consolidated Financial
Statements (Unaudited) appearing on pages 16
through 19 of the Quarterly Report to the
Securities and Exchange Commission on Form
10-Q for the quarter ended March 31, 2000 for
DTE Energy Company and The Detroit Edison
Company, as the case may be
|                      
|                      
|                      
|                      
|Registrant             |  | Company or Detroit Edison, as the case may be                                                                                                                                                                                                                                                  

3



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TABLE OF CONTENTS



|                                                                                     |                                                                                                 |  |  |  |  |  |  | 
|------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------- |  |  |  |  |  |  | 
|DEFINITIONS                                                                         
|QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY
PART I  FINANCIAL INFORMATION 
|                                                                                     | Item 1   Financial Statements                                                                 
|PART II  OTHER INFORMATION                                                         
|                                                                                     | Item 4  Submission of Matters to a Vote of Security Holders.                                  
|                                                                                     | Item 5  Other Information.                                                                    
|PART I  FINANCIAL INFORMATION                                                      
|                                                                                     | Item 1  Condensed Consolidated Financial Statements (Unaudited).                              
|                                                                                     | Item 2  Managements Discussion and Analysis of Financial Condition and
Results of Operations.
|PART II  OTHER INFORMATION                                                         
|                                                                                     | Item 5  Other Information.                                                                    
|QUARTERLY REPORTS ON FORM 10-Q FOR
DTE ENERGY COMPANY AND THE DETROIT EDISON COMPANY
|                                                                                     | Item 6  Exhibits and Reports on Form 8-K                                                      
|                                                                                     | (a) Exhibits                                                                                   
|Form 10-Q                                                                           
|DTE Energy Company Basic & Diluted Earnings                                         
|DTE Energy Computation of Ratio of Earnings                                         
|Detroit Edison Computation of Ratio of Earnings                                     
|Awareness Letter of Deloitte & Touche LLP                                           
|Financial Data Schedule - DTE Energy Company                                        
|Financial Data Schedule - Detroit Edison Company                                    



---











QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY
PART I  FINANCIAL INFORMATION

Item 1  Condensed Consolidated Financial Statements (Unaudited).

The following condensed consolidated financial statements (unaudited) are included herein.

|                                                                 |                                                                     |  |      |    | 
|---------------------------------------------------------------- | ------------------------------------------------------------------- |  | ---- | -- | 
|                                                                 |                                                                     |  | Page
|                                                                 |                                                                     |  |     
|DTE Energy Company:                                             
|                                                                
|                                                                
|                                                                
|                                                                
|                                                                 | Condensed Consolidated Statement of Income                          |  |      | 5  | 
|                                                                
|                                                                
|                                                                
|                                                                
|                                                                 | Condensed Consolidated Balance Sheet                                |  |      | 6  | 
|                                                                
|                                                                
|                                                                
|                                                                
|                                                                 | Condensed Consolidated Statement of Cash Flows                      |  |      | 8  | 
|                                                                
|                                                                
|                                                                
|                                                                
|                                                                 | Condensed Consolidated Statement of Changes in Shareholders Equity |  |      | 9  | 
|                                                                
|                                                                
|                                                                
|                                                                
|The Detroit Edison Company:                                     
|                                                                
|                                                                
|                                                                
|                                                                
|                                                                 | Condensed Consolidated Statement of Income                          |  |      | 11 | 
|                                                                
|                                                                
|                                                                
|                                                                
|                                                                 | Condensed Consolidated Balance Sheet                                |  |      | 12 | 
|                                                                
|                                                                
|                                                                
|                                                                
|                                                                 | Condensed Consolidated Statement of Cash Flows                      |  |      | 14 | 
|                                                                
|                                                                
|                                                                
|                                                                
|                                                                 | Condensed Consolidated Statement of Changes in Shareholders Equity |  |      | 15 | 
|                                                                
|                                                                
|                                                                
|                                                                
|Notes to Condensed Consolidated Financial Statements (Unaudited) |                                                                     |  | 16   |   
|                                                                
|                                                                
|                                                                
|                                                                
|Independent Accountants Report                                  |                                                                     |  | 22   |   



| |  | Note:   Detroit Edisons Condensed Consolidated Financial Statements are presented here
         for ease of reference             and are not considered to be part of Item I of the Companys report.
| |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

4



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##### Table of Contents



DTE Energy Company
Condensed Consolidated Statement of Income (Unaudited)
(Millions, Except Per Share Amounts)

|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |      |     |       | 
|----------------------------------- | ----------------- | ----------------------------- | -------------------------------- | ---- | ------------------ | ----- | ---------------- | ---- | ---- | --- | ----- | ---- | --- | ----- | ----- | ---- | --- | ----- | 
|                                    |                   |                               |                                  |      | Three Months Ended |       | Six Months Ended
|                                    |                   |                               |                                  |      | June 30            |       | June 30         
|                                    |                   |                               |                                  |      |                    |       |                 
|                                    |                   |                               |                                  |      | 2000               |       | 1999             |      | 2000 |     | 1999 
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |      
|Operating Revenues                  |                   | $                             | 1,428                            |      |                    | $     | 1,150            |      |      | $   | 2,610 |      |     | $     | 2,174 |     
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     
|Operating Expenses                 
|                                   
|                                   
|                                   
|                                   
|                                    |                   | Fuel and purchased power      |                                  |      | 579                |       |                  |      | 322  |     |       |      | 923 |       |       |      | 553 |      
|                                   
|                                   
|                                   
|                                   
|                                    |                   | Operation and maintenance     |                                  |      | 386                |       |                  |      | 364  |     |       |      | 741 |       |       |      | 689 |      
|                                   
|                                   
|                                   
|                                   
|                                    |                   | Depreciation and amortization |                                  |      | 186                |       |                  |      | 182  |     |       |      | 378 |       |       |      | 364 |      
|                                   
|                                   
|                                   
|                                   
|                                    |                   | Taxes other than income       |                                  |      | 74                 |       |                  |      | 71   |     |       |      | 150 |       |       |      | 142 |      
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     
|                                    |                   |                               | Total Operating Expenses         |      |                    | 1,225 |                  |      |      | 939 |       |      |     | 2,192 |       |      |     | 1,748 | 
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     
|Operating Income                    |                   |                               | 203                              |      |                    |       | 211              |      |      |     | 418   |      |     |       | 426   |     
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     
|Interest Expense and Other         
|                                   
|                                   
|                                   
|                                   
|                                    |                   | Interest expense              |                                  |      | 82                 |       |                  |      | 82   |     |       |      | 165 |       |       |      | 165 |      
|                                   
|                                   
|                                   
|                                   
|                                    |                   | Other  net                   |                                  |      | 1                  |       |                  |      | 6    |     |       |      | 3   |       |       |      | 9   |      
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     
|                                    |                   |                               | Total Interest Expense and Other |      |                    | 83    |                  |      |      | 88  |       |      |     | 168   |       |      |     | 174   | 
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     
|Income Before Income Taxes          |                   |                               | 120                              |      |                    |       | 123              |      |      |     | 250   |      |     |       | 252   |     
|                                   
|                                   
|                                   
|                                   
|Income Taxes                        |                   |                               | 12                               |      |                    |       | 13               |      |      |     | 25    |      |     |       | 27    |     
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     
|Net Income                          |                   | $                             | 108                              |      |                    | $     | 110              |      |      | $   | 225   |      |     | $     | 225   |     
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     
|Average Common Shares Outstanding   |                   |                               | 143                              |      |                    |       | 145              |      |      |     | 143   |      |     |       | 145   |     
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     
|Earnings per Common Share -        
|                                   
|                                   
|                                   
|                                   
|                                    | Basic and Diluted |                               | $                                | 0.76 |                    |       | $                | 0.76 |      |     | $     | 1.57 |     |       | $     | 1.55 |    
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     
|Dividends Declared per Common Share |                   | $                             | 0.515                            |      |                    | $     | 0.515            |      |      | $   | 1.03  |      |     | $     | 1.03  |     
|                                    |                   |                               |                                  |      |                    |       |                  |      |      |     |       |      |     |       |       |     

See Notes to Condensed Consolidated Financial Statements (Unaudited)

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##### Table of Contents



DTE Energy Company
Condensed Consolidated Balance Sheet (Unaudited)
(Millions, Except Per Share Amounts and Shares)

|                                               |                                                                            |                           |        |         |     |             |        |        |     | 
|---------------------------------------------- | -------------------------------------------------------------------------- | ------------------------- | ------ | ------- | --- | ----------- | ------ | ------ | --- | 
|                                               |                                                                            |                           |        | June 30 |     | December 31
|                                               |                                                                            |                           |        | 2000    |     | 1999       
|                                               |                                                                            |                           |        |         |     |            
|ASSETS                                        
|                                              
|                                              
|                                              
|                                              
|Current Assets                                
|                                              
|                                              
|                                              
|                                              
|                                               | Cash and cash equivalents                                                  |                           | $      | 40      |     |             | $      | 33     |    
|                                              
|                                              
|                                              
|                                              
|                                               | Restricted cash                                                            |                           |        | 132     |     |             |        | 131    |    
|                                              
|                                              
|                                              
|                                              
|                                               | Accounts receivable
Customer (less allowance for doubtful
accounts of $21) |                           |        | 439     |     |             |        | 388    |    
|                                              
|                                              
|                                              
|                                              
|                                               |                                                                            | Accrued unbilled revenues |        |         | 193 |             |        |        | 166 | 
|                                              
|                                              
|                                              
|                                              
|                                               |                                                                            | Other                     |        |         | 124 |             |        |        | 144 | 
|                                              
|                                              
|                                              
|                                              
|                                               | Inventories (at average
cost)
         Fuel                                |                           |        | 166     |     |             |        | 175    |    
|                                              
|                                              
|                                              
|                                              
|                                               |                                                                            | Materials and supplies    |        |         | 165 |             |        |        | 168 | 
|                                              
|                                              
|                                              
|                                              
|                                               | Asset from risk management activities                                      |                           |        | 129     |     |             |        | 67     |    
|                                              
|                                              
|                                              
|                                              
|                                               | Other                                                                      |                           |        | 117     |     |             |        | 38     |    
|                                               |                                                                            |                           |        |         |     |             |        |       
|                                               |                                                                            |                           | 1,505  |         |     |             | 1,310  |       
|                                               |                                                                            |                           |        |         |     |             |        |       
|Investments                                   
|                                              
|                                              
|                                              
|                                              
|                                               | Nuclear decommissioning trust funds                                        |                           |        | 389     |     |             |        | 361    |    
|                                              
|                                              
|                                              
|                                              
|                                               | Other                                                                      |                           |        | 266     |     |             |        | 274    |    
|                                               |                                                                            |                           |        |         |     |             |        |       
|                                               |                                                                            |                           | 655    |         |     |             | 635    |       
|                                               |                                                                            |                           |        |         |     |             |        |       
|Property                                      
|                                              
|                                              
|                                              
|                                              
|                                               | Property, plant and equipment                                              |                           |        | 11,802  |     |             |        | 11,755 |    
|                                              
|                                              
|                                              
|                                              
|                                               | Property under capital leases                                              |                           |        | 221     |     |             |        | 222    |    
|                                              
|                                              
|                                              
|                                              
|                                               | Nuclear fuel under capital lease                                           |                           |        | 703     |     |             |        | 663    |    
|                                              
|                                              
|                                              
|                                              
|                                               | Construction work in progress                                              |                           |        | 209     |     |             |        | 106    |    
|                                               |                                                                            |                           |        |         |     |             |        |       
|                                               |                                                                            |                           | 12,935 |         |     |             | 12,746 |       
|                                               |                                                                            |                           |        |         |     |             |        |       
|Less accumulated depreciation and amortization |                                                                            |                           | 5,632  |         |     |             | 5,598  |       
|                                               |                                                                            |                           |        |         |     |             |        |       
|                                               |                                                                            |                           | 7,303  |         |     |             | 7,148  |       
|                                               |                                                                            |                           |        |         |     |             |        |       
|Regulatory Assets                              |                                                                            |                           | 2,776  |         |     |             | 2,935  |       
|                                               |                                                                            |                           |        |         |     |             |        |       
|Other Assets                                   |                                                                            |                           | 278    |         |     |             | 288    |       
|                                               |                                                                            |                           |        |         |     |             |        |       
|Total Assets                                   |                                                                            | $                         | 12,517 |         |     | $           | 12,316 |       
|                                               |                                                                            |                           |        |         |     |             |        |       

See Notes to Condensed Consolidated Financial Statements (Unaudited)

6



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##### Table of Contents



|                                           |                                                                                                                                              |   |         |       |             |   |        |       | 
|------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------- | - | ------- | ----- | ----------- | - | ------ | ----- | 
|                                           |                                                                                                                                              |   | June 30 |       | December 31
|                                           |                                                                                                                                              |   | 2000    |       | 1999       
|                                           |                                                                                                                                              |   |         |       |            
|LIABILITIES AND SHAREHOLDERS EQUITY      
|                                          
|                                          
|                                          
|                                          
|Current Liabilities                       
|                                          
|                                          
|                                          
|                                          
|                                           | Accounts payable                                                                                                                             |   | $       | 261   |             |   | $      | 273   | 
|                                          
|                                          
|                                          
|                                          
|                                           | Accrued interest                                                                                                                             |   |         | 63    |             |   |        | 57    | 
|                                          
|                                          
|                                          
|                                          
|                                           | Dividends payable                                                                                                                            |   |         | 73    |             |   |        | 75    | 
|                                          
|                                          
|                                          
|                                          
|                                           | Accrued payroll                                                                                                                              |   |         | 95    |             |   |        | 97    | 
|                                          
|                                          
|                                          
|                                          
|                                           | Short-term borrowings                                                                                                                        |   |         | 622   |             |   |        | 387   | 
|                                          
|                                          
|                                          
|                                          
|                                           | Income taxes                                                                                                                                 |   |         | 102   |             |   |        | 61    | 
|                                          
|                                          
|                                          
|                                          
|                                           | Current portion long-term debt                                                                                                               |   |         | 194   |             |   |        | 270   | 
|                                          
|                                          
|                                          
|                                          
|                                           | Current portion capital leases                                                                                                               |   |         | 101   |             |   |        | 75    | 
|                                          
|                                          
|                                          
|                                          
|                                           | Liability from risk management activities                                                                                                    |   |         | 111   |             |   |        | 52    | 
|                                          
|                                          
|                                          
|                                          
|                                           | Other                                                                                                                                        |   |         | 253   |             |   |        | 257   | 
|                                           |                                                                                                                                              |   |         |       |             |   |        |      
|                                           |                                                                                                                                              |   | 1,875   |       |             |   | 1,604  |      
|                                           |                                                                                                                                              |   |         |       |             |   |        |      
|Other Liabilities                         
|                                          
|                                          
|                                          
|                                          
|                                           | Deferred income taxes                                                                                                                        |   |         | 1,855 |             |   |        | 1,925 | 
|                                          
|                                          
|                                          
|                                          
|                                           | Capital leases                                                                                                                               |   |         | 107   |             |   |        | 114   | 
|                                          
|                                          
|                                          
|                                          
|                                           | Regulatory liabilities                                                                                                                       |   |         | 194   |             |   |        | 262   | 
|                                          
|                                          
|                                          
|                                          
|                                           | Other                                                                                                                                        |   |         | 577   |             |   |        | 564   | 
|                                           |                                                                                                                                              |   |         |       |             |   |        |      
|                                           |                                                                                                                                              |   | 2,733   |       |             |   | 2,865  |      
|                                           |                                                                                                                                              |   |         |       |             |   |        |      
|Long-Term Debt                             |                                                                                                                                              |   | 3,992   |       |             |   | 3,938  |      
|                                           |                                                                                                                                              |   |         |       |             |   |        |      
|Shareholders Equity                      
|                                          
|                                          
|                                          
|                                          
|                                           | Common stock, without par value,
400,000,000 shares
      authorized, 142,658,064 and 145,041,324 issued
      and outstanding, respectively |   |         | 1,918 |             |   |        | 1,950 | 
|                                          
|                                          
|                                          
|                                          
|                                           | Retained earnings                                                                                                                            |   |         | 1,999 |             |   |        | 1,959 | 
|                                           |                                                                                                                                              |   |         |       |             |   |        |      
|                                           |                                                                                                                                              |   | 3,917   |       |             |   | 3,909  |      
|                                           |                                                                                                                                              |   |         |       |             |   |        |      
|Commitments and Contingencies (Note 7)    
|                                          
|                                          
|                                          
|                                          
|Total Liabilities and Shareholders Equity |                                                                                                                                              | $ | 12,517  |       |             | $ | 12,316 |      
|                                           |                                                                                                                                              |   |         |       |             |   |        |      

See Notes to Condensed Consolidated Financial Statements (Unaudited)

7



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##### Table of Contents



DTE Energy Company
Condensed Consolidated Statement of Cash Flows (Unaudited)
(Millions)

|                                                     |                                                |                                                                            |                     |      |                  |     |      |      |      |      |  
|---------------------------------------------------- | ---------------------------------------------- | -------------------------------------------------------------------------- | ------------------- | ---- | ---------------- | --- | ---- | ---- | ---- | ---- | -
|                                                     |                                                |                                                                            |                     |      | Six Months Ended
|                                                     |                                                |                                                                            |                     |      | June 30         
|                                                     |                                                |                                                                            |                     |      |                 
|                                                     |                                                |                                                                            |                     |      | 2000             |     | 1999
|                                                     |                                                |                                                                            |                     |      |                  |     |     
|Operating Activities                                
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Net Income                                     |                                                                            | $                   | 225  |                  |     | $    | 225  |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                | Adjustments to reconcile net income to net cash from operating activities: |                     |      |                  |     |      |      |      |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                | Depreciation and amortization                                              |                     |      | 378              |     |      |      | 364  |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                | Other                                                                      |                     |      | (57              | )   |      |      | (15  | )   
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                | Changes in current assets and liabilities:                                
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                |                                                                            | Restricted cash     |      |                  | (1  | )    |      |      | (2   | )
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                |                                                                            | Accounts receivable |      |                  | (59 | )    |      |      | (52  | )
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                |                                                                            | Inventories         |      |                  | 12  |      |      |      | 17   |  
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                |                                                                            | Payables            |      |                  | (8  | )    |      |      | (2   | )
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                |                                                                            | Other               |      |                  | (82 | )    |      |      | (119 | )
|                                                     |                                                |                                                                            |                     |      |                  |     |      |     
|                                                     |                                                | Net cash from operating activities                                         |                     |      | 408              |     |      |      | 416  |     
|                                                     |                                                |                                                                            |                     |      |                  |     |      |     
|Investing Activities                                
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Plant and equipment expenditures               |                                                                            |                     | (396 | )                |     |      | (381 | )   
|                                                     |                                                |                                                                            |                     |      |                  |     |      |     
|                                                     |                                                | Net cash used for investing activities                                     |                     |      | (396             | )   |      |      | (381 | )   
|                                                     |                                                |                                                                            |                     |      |                  |     |      |     
|Financing Activities                                
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Issuance of long-term debt                     |                                                                            |                     | 219  |                  |     |      |     |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Increase in short-term borrowings              |                                                                            |                     | 235  |                  |     |      | 176  |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Redemption of long-term debt                   |                                                                            |                     | (240 | )                |     |      | (157 | )   
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Repurchase of common stock                     |                                                                            |                     | (70  | )                |     |      |     |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Dividends on common stock                      |                                                                            |                     | (149 | )                |     |      | (149 | )   
|                                                     |                                                |                                                                            |                     |      |                  |     |      |     
|                                                     |                                                | Net cash used for financing activities                                     |                     |      | (5               | )   |      |      | (130 | )   
|                                                     |                                                |                                                                            |                     |      |                  |     |      |     
|Net Increase (Decrease) in Cash and Cash Equivalents |                                                |                                                                            | 7                   |      |                  |     | (95  | )   
|                                                    
|                                                    
|                                                    
|                                                    
|Cash and Cash Equivalents at Beginning of the Period |                                                |                                                                            | 33                  |      |                  |     | 130  |     
|                                                     |                                                |                                                                            |                     |      |                  |     |      |     
|Cash and Cash Equivalents at End of the Period       |                                                | $                                                                          | 40                  |      |                  | $   | 35   |     
|                                                     |                                                |                                                                            |                     |      |                  |     |      |     
|Supplementary Cash Flow Information                 
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Interest paid (excluding interest capitalized) |                                                                            | $                   | 159  |                  |     | $    | 165  |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Income taxes paid                              |                                                                            |                     | 34   |                  |     |      | 36   |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | New capital lease obligations                  |                                                                            |                     | 41   |                  |     |      | 9    |     

See Notes to Condensed Consolidated Financial Statements (Unaudited)

8



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##### Table of Contents



DTE Energy Company
Condensed Consolidated Statement of Changes in Shareholders Equity
(Unaudited)
(Millions, Except Per Share Amounts; Shares in Thousands)

|                           |                                                      |  |        |         |        |   |       |       |  
|-------------------------- | ---------------------------------------------------- |  | ------ | ------- | ------ | - | ----- | ----- | -
|                           |                                                      |  | 2000  
|                           |                                                      |  |       
|                           |                                                      |  | Shares |         | Amount
|                           |                                                      |  |        |         |       
|Common Stock              
|                          
|                          
|                          
|                          
|                           | Balance at beginning of year                         |  |        | 145,041 |        |   | $     | 1,950 |  
|                          
|                          
|                          
|                          
|                           | Repurchase and retirement of common stock            |  |        | (2,383  | )      |   |       | (32   | )
|                           |                                                      |  |        |         |        |   |       |      
|                           | Balance at June 30, 2000                             |  |        | 142,658 |        |   | $     | 1,918 |  
|                           |                                                      |  |        |         |        |   |       |      
|Retained Earnings         
|                          
|                          
|                          
|                          
|                           | Balance at beginning of year                         |  |        |         |        |   | $     | 1,959 |  
|                          
|                          
|                          
|                          
|                           | Net income                                           |  |        |         |        |   |       | 225   |  
|                          
|                          
|                          
|                          
|                           | Dividends declared on common stock ($1.03 per share) |  |        |         |        |   |       | (147  | )
|                          
|                          
|                          
|                          
|                           | Repurchase and retirement of common stock            |  |        |         |        |   |       | (38   | )
|                           |                                                      |  |        |         |        |   |       |      
|                           | Balance at June 30, 2000                             |  |        |         |        |   | $     | 1,999 |  
|                           |                                                      |  |        |         |        |   |       |      
|Total Shareholders Equity |                                                      |  |        |         |        | $ | 3,917 |      
|                           |                                                      |  |        |         |        |   |       |      

See Notes to Condensed Consolidated Financial Statements (Unaudited).

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The Detroit Edison Company
Condensed Consolidated Statement of Income (Unaudited)

(Millions)

|                           |                               |                                  |       |                    |     |                  |       |      |     |      |       |     |       |   |       |     |       | 
|-------------------------- | ----------------------------- | -------------------------------- | ----- | ------------------ | --- | ---------------- | ----- | ---- | --- | ---- | ----- | --- | ----- | - | ----- | --- | ----- | 
|                           |                               |                                  |       | Three Months Ended |     | Six Months Ended
|                           |                               |                                  |       | June 30            |     | June 30         
|                           |                               |                                  |       |                    |     |                 
|                           |                               |                                  |       | 2000               |     | 1999             |       | 2000 |     | 1999
|                           |                               |                                  |       |                    |     |                  |       |      |     |     
|Operating Revenues         |                               | $                                | 1,071 |                    |     | $                | 1,006 |      |     | $    | 2,020 |     |       | $ | 1,917 |    
|                           |                               |                                  |       |                    |     |                  |       |      |     |      |       |     |       |   |       |    
|Operating Expenses        
|                          
|                          
|                          
|                          
|                           | Fuel and purchased power      |                                  |       | 336                |     |                  |       | 277  |     |      |       | 565 |       |   |       | 483 |      
|                          
|                          
|                          
|                          
|                           | Operation and maintenance     |                                  |       | 272                |     |                  |       | 261  |     |      |       | 512 |       |   |       | 498 |      
|                          
|                          
|                          
|                          
|                           | Depreciation and amortization |                                  |       | 177                |     |                  |       | 173  |     |      |       | 359 |       |   |       | 346 |      
|                          
|                          
|                          
|                          
|                           | Taxes other than income       |                                  |       | 72                 |     |                  |       | 70   |     |      |       | 147 |       |   |       | 141 |      
|                           |                               |                                  |       |                    |     |                  |       |      |     |      |       |     |       |   |       |    
|                           |                               | Total Operating Expenses         |       |                    | 857 |                  |       |      | 781 |      |       |     | 1,583 |   |       |     | 1,468 | 
|                           |                               |                                  |       |                    |     |                  |       |      |     |      |       |     |       |   |       |    
|Operating Income           |                               |                                  | 214   |                    |     |                  | 225   |      |     |      | 437   |     |       |   | 449   |    
|                           |                               |                                  |       |                    |     |                  |       |      |     |      |       |     |       |   |       |    
|Interest Expense and Other
|                          
|                          
|                          
|                          
|                           | Interest expense              |                                  |       | 70                 |     |                  |       | 69   |     |      |       | 139 |       |   |       | 137 |      
|                          
|                          
|                          
|                          
|                           | Other  net                   |                                  |       | 5                  |     |                  |       | (1   | )   |      |       | 9   |       |   |       | 2   |      
|                           |                               |                                  |       |                    |     |                  |       |      |     |      |       |     |       |   |       |    
|                           |                               | Total Interest Expense and Other |       |                    | 75  |                  |       |      | 68  |      |       |     | 148   |   |       |     | 139   | 
|                           |                               |                                  |       |                    |     |                  |       |      |     |      |       |     |       |   |       |    
|Income Before Income Taxes |                               |                                  | 139   |                    |     |                  | 157   |      |     |      | 289   |     |       |   | 310   |    
|                          
|                          
|                          
|                          
|Income Taxes               |                               |                                  | 48    |                    |     |                  | 50    |      |     |      | 101   |     |       |   | 99    |    
|                           |                               |                                  |       |                    |     |                  |       |      |     |      |       |     |       |   |       |    
|Net Income                 |                               | $                                | 91    |                    |     | $                | 107   |      |     | $    | 188   |     |       | $ | 211   |    
|                           |                               |                                  |       |                    |     |                  |       |      |     |      |       |     |       |   |       |    

See Notes to Condensed Consolidated Financial Statements (Unaudited).

11



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The Detroit Edison Company
Condensed Consolidated Balance Sheet (Unaudited)
(Millions, Except Per Share Amounts and Shares)

|                                               |                                     |                                                        |        |         |     |             |        |        |     | 
|---------------------------------------------- | ----------------------------------- | ------------------------------------------------------ | ------ | ------- | --- | ----------- | ------ | ------ | --- | 
|                                               |                                     |                                                        |        | June 30 |     | December 31
|                                               |                                     |                                                        |        | 2000    |     | 1999       
|                                               |                                     |                                                        |        |         |     |            
|ASSETS                                        
|                                              
|                                              
|                                              
|                                              
|Current Assets                                
|                                              
|                                              
|                                              
|                                              
|                                               | Cash and cash equivalents           |                                                        | $      | 14      |     |             | $      | 4      |    
|                                              
|                                              
|                                              
|                                              
|                                               | Accounts receivable                 |                                                        |        |         |     |             |        |        |    
|                                              
|                                              
|                                              
|                                              
|                                               |                                     | Customer (less allowance for doubtful
accounts of $20) |        |         | 301 |             |        |        | 316 | 
|                                               |                                     | Accrued unbilled revenues                              |        |         | 193 |             |        |        | 166 | 
|                                              
|                                              
|                                              
|                                              
|                                               |                                     | Other                                                  |        |         | 115 |             |        |        | 138 | 
|                                              
|                                              
|                                              
|                                              
|                                               | Inventories (at average cost)       |                                                        |        |         |     |             |        |        |    
|                                              
|                                              
|                                              
|                                              
|                                               |                                     | Fuel                                                   |        |         | 166 |             |        |        | 175 | 
|                                              
|                                              
|                                              
|                                              
|                                               |                                     | Materials and supplies                                 |        |         | 143 |             |        |        | 140 | 
|                                              
|                                              
|                                              
|                                              
|                                               | Other                               |                                                        |        | 103     |     |             |        | 29     |    
|                                               |                                     |                                                        |        |         |     |             |        |       
|                                               |                                     |                                                        | 1,035  |         |     |             | 968    |       
|                                               |                                     |                                                        |        |         |     |             |        |       
|Investments                                   
|                                              
|                                              
|                                              
|                                              
|                                               | Nuclear decommissioning trust funds |                                                        |        | 389     |     |             |        | 361    |    
|                                              
|                                              
|                                              
|                                              
|                                               | Other                               |                                                        |        | 37      |     |             |        | 34     |    
|                                               |                                     |                                                        |        |         |     |             |        |       
|                                               |                                     |                                                        | 426    |         |     |             | 395    |       
|                                               |                                     |                                                        |        |         |     |             |        |       
|Property                                      
|                                              
|                                              
|                                              
|                                              
|                                               | Property, plant and equipment       |                                                        |        | 11,246  |     |             |        | 11,204 |    
|                                              
|                                              
|                                              
|                                              
|                                               | Property under capital leases       |                                                        |        | 221     |     |             |        | 221    |    
|                                              
|                                              
|                                              
|                                              
|                                               | Nuclear fuel under capital lease    |                                                        |        | 703     |     |             |        | 663    |    
|                                              
|                                              
|                                              
|                                              
|                                               | Construction work in progress       |                                                        |        | 3       |     |             |        | 4      |    
|                                               |                                     |                                                        |        |         |     |             |        |       
|                                               |                                     |                                                        | 12,173 |         |     |             | 12,092 |       
|                                               |                                     |                                                        |        |         |     |             |        |       
|Less accumulated depreciation and amortization |                                     |                                                        | 5,542  |         |     |             | 5,526  |       
|                                               |                                     |                                                        |        |         |     |             |        |       
|                                               |                                     |                                                        | 6,631  |         |     |             | 6,566  |       
|                                               |                                     |                                                        |        |         |     |             |        |       
|Regulatory Assets                              |                                     |                                                        | 2,776  |         |     |             | 2,935  |       
|                                               |                                     |                                                        |        |         |     |             |        |       
|Other Assets                                   |                                     |                                                        | 176    |         |     |             | 187    |       
|                                               |                                     |                                                        |        |         |     |             |        |       
|Total Assets                                   |                                     | $                                                      | 11,044 |         |     | $           | 11,051 |       
|                                               |                                     |                                                        |        |         |     |             |        |       

See Notes to Condensed Consolidated Financial Statements (Unaudited).

12



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##### Table of Contents



|                                           |                                                                                                |   |         |       |             |   |        |       |  
|------------------------------------------ | ---------------------------------------------------------------------------------------------- | - | ------- | ----- | ----------- | - | ------ | ----- | -
|                                           |                                                                                                |   | June 30 |       | December 31
|                                           |                                                                                                |   | 2000    |       | 1999       
|                                           |                                                                                                |   |         |       |            
|LIABILITIES AND SHAREHOLDERS EQUITY      
|                                          
|                                          
|                                          
|                                          
|Current Liabilities                       
|                                          
|                                          
|                                          
|                                          
|                                           | Accounts payable                                                                               |   | $       | 229   |             |   | $      | 224   |  
|                                          
|                                          
|                                          
|                                          
|                                           | Accrued interest                                                                               |   |         | 60    |             |   |        | 54    |  
|                                          
|                                          
|                                          
|                                          
|                                           | Dividends payable                                                                              |   |         | 80    |             |   |        | 80    |  
|                                          
|                                          
|                                          
|                                          
|                                           | Accrued payroll                                                                                |   |         | 92    |             |   |        | 90    |  
|                                          
|                                          
|                                          
|                                          
|                                           | Short-term borrowings                                                                          |   |         | 382   |             |   |        | 362   |  
|                                          
|                                          
|                                          
|                                          
|                                           | Income taxes                                                                                   |   |         | 132   |             |   |        | 84    |  
|                                          
|                                          
|                                          
|                                          
|                                           | Current portion long-term debt                                                                 |   |         | 119   |             |   |        | 194   |  
|                                          
|                                          
|                                          
|                                          
|                                           | Current portion capital leases                                                                 |   |         | 101   |             |   |        | 75    |  
|                                          
|                                          
|                                          
|                                          
|                                           | Other                                                                                          |   |         | 115   |             |   |        | 159   |  
|                                           |                                                                                                |   |         |       |             |   |        |      
|                                           |                                                                                                |   | 1,310   |       |             |   | 1,322  |      
|                                           |                                                                                                |   |         |       |             |   |        |      
|Other Liabilities                         
|                                          
|                                          
|                                          
|                                          
|                                           | Deferred income taxes                                                                          |   |         | 1,815 |             |   |        | 1,879 |  
|                                          
|                                          
|                                          
|                                          
|                                           | Capital leases                                                                                 |   |         | 107   |             |   |        | 114   |  
|                                          
|                                          
|                                          
|                                          
|                                           | Regulatory liabilities                                                                         |   |         | 194   |             |   |        | 262   |  
|                                          
|                                          
|                                          
|                                          
|                                           | Other                                                                                          |   |         | 575   |             |   |        | 562   |  
|                                           |                                                                                                |   |         |       |             |   |        |      
|                                           |                                                                                                |   | 2,691   |       |             |   | 2,817  |      
|                                           |                                                                                                |   |         |       |             |   |        |      
|Long-Term Debt                             |                                                                                                |   | 3,384   |       |             |   | 3,284  |      
|                                           |                                                                                                |   |         |       |             |   |        |      
|Shareholders Equity                      
|                                          
|                                          
|                                          
|                                          
|                                           | Common stock, $10 par value, 400,000,000 shares
authorized, 145,119,875 issued and outstanding |   |         | 1,451 |             |   |        | 1,451 |  
|                                          
|                                          
|                                          
|                                          
|                                           | Premium on common stock                                                                        |   |         | 548   |             |   |        | 548   |  
|                                          
|                                          
|                                          
|                                          
|                                           | Common stock expense                                                                           |   |         | (48   | )           |   |        | (48   | )
|                                          
|                                          
|                                          
|                                          
|                                           | Retained earnings                                                                              |   |         | 1,708 |             |   |        | 1,677 |  
|                                           |                                                                                                |   |         |       |             |   |        |      
|                                           |                                                                                                |   | 3,659   |       |             |   | 3,628  |      
|                                           |                                                                                                |   |         |       |             |   |        |      
|Commitments and Contingencies (Note 7)    
|                                          
|                                          
|                                          
|                                          
|Total Liabilities and Shareholders Equity |                                                                                                | $ | 11,044  |       |             | $ | 11,051 |      
|                                           |                                                                                                |   |         |       |             |   |        |      

See Notes to Condensed Consolidated Financial Statements (Unaudited).

13



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##### Table of Contents



The Detroit Edison Company
Condensed Consolidated Statement of Cash Flows (Unaudited)

(Millions)

|                                                     |                                                                            |                                            |                     |      |                  |      |      |      |      |      |  
|---------------------------------------------------- | -------------------------------------------------------------------------- | ------------------------------------------ | ------------------- | ---- | ---------------- | ---- | ---- | ---- | ---- | ---- | -
|                                                     |                                                                            |                                            |                     |      | Six Months Ended
|                                                     |                                                                            |                                            |                     |      | June 30         
|                                                     |                                                                            |                                            |                     |      |                 
|                                                     |                                                                            |                                            |                     |      | 2000             |      | 1999
|                                                     |                                                                            |                                            |                     |      |                  |      |     
|Operating Activities                                
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Net Income                                                                 |                                            | $                   | 188  |                  |      | $    | 211  |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Adjustments to reconcile net income to net cash from operating activities: |                                            |                     |      |                  |      |      |      |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                                            | Depreciation and amortization              |                     |      | 359              |      |      |      | 346  |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                                            | Other                                      |                     |      | (52              | )    |      |      | 8    |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                                            | Changes in current assets and liabilities:
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                                            |                                            | Accounts receivable |      |                  | 11   |      |      |      | (27  | )
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                                            |                                            | Inventories         |      |                  | 6    |      |      |      | 5    |  
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                                            |                                            | Payables            |      |                  | 13   |      |      |      | (3   | )
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     |                                                                            |                                            | Other               |      |                  | (118 | )    |      |      | (108 | )
|                                                     |                                                                            |                                            |                     |      |                  |      |      |     
|                                                     |                                                                            | Net cash from operating activities         |                     |      | 407              |      |      |      | 432  |     
|                                                     |                                                                            |                                            |                     |      |                  |      |      |     
|Investing Activities                                
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Plant and equipment expenditures                                           |                                            |                     | (282 | )                |      |      | (308 | )   
|                                                     |                                                                            |                                            |                     |      |                  |      |      |     
|                                                     |                                                                            | Net cash used for investing activities     |                     |      | (282             | )    |      |      | (308 | )   
|                                                     |                                                                            |                                            |                     |      |                  |      |      |     
|Financing Activities                                
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Issuance of long-term debt                                                 |                                            |                     | 219  |                  |      |      |     |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Increase in short-term borrowings                                          |                                            |                     | 20   |                  |      |      | 173  |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Redemption of long-term debt                                               |                                            |                     | (194 | )                |      |      | (119 | )   
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Dividends on common stock                                                  |                                            |                     | (160 | )                |      |      | (160 | )   
|                                                     |                                                                            |                                            |                     |      |                  |      |      |     
|                                                     |                                                                            | Net cash used for financing activities     |                     |      | (115             | )    |      |      | (106 | )   
|                                                     |                                                                            |                                            |                     |      |                  |      |      |     
|Net Increase in Cash and Cash Equivalents            |                                                                            |                                            | 10                  |      |                  |      | 18   |     
|                                                    
|                                                    
|                                                    
|                                                    
|Cash and Cash Equivalents at Beginning of the Period |                                                                            |                                            | 4                   |      |                  |      | 5    |     
|                                                     |                                                                            |                                            |                     |      |                  |      |      |     
|Cash and Cash Equivalents at End of the Period       |                                                                            | $                                          | 14                  |      |                  | $    | 23   |     
|                                                     |                                                                            |                                            |                     |      |                  |      |      |     
|Supplementary Cash Flow Information                 
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Interest paid (excluding interest capitalized)                             |                                            | $                   | 133  |                  |      | $    | 139  |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | Income taxes paid                                                          |                                            |                     | 98   |                  |      |      | 67   |     
|                                                    
|                                                    
|                                                    
|                                                    
|                                                     | New capital lease obligations                                              |                                            |                     | 41   |                  |      |      | 9    |     

See Notes to Condensed Consolidated Financial Statements (Unaudited).

14



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##### Table of Contents



The Detroit Edison Company
Condensed Consolidated Statement of Changes in Shareholders Equity (Unaudited)
(Millions, Except Per Share Amounts; Shares in Thousands)

|                           |                                                      |  |        |         |  |  |  |  |        |   |       |       |  
|-------------------------- | ---------------------------------------------------- |  | ------ | ------- |  |  |  |  | ------ | - | ----- | ----- | -
|                           |                                                      |  | 2000  
|                           |                                                      |  |       
|                           |                                                      |  | Shares |         |  |  |  |  | Amount
|                           |                                                      |  |        |         |  |  |  |  |       
|Common Stock              
|                          
|                          
|                          
|                          
|                           | Balance at beginning of year                         |  |        | 145,120 |  |  |  |  |        |   | $     | 1,451 |  
|                           |                                                      |  |        |         |  |  |  |  |        |   |       |      
|                           | Balance at June 30, 2000                             |  |        | 145,120 |  |  |  |  |        |   | $     | 1,451 |  
|                          
|                          
|                          
|                          
|Premium on Common Stock   
|                          
|                          
|                          
|                          
|                           | Balance at beginning of year                         |  |        |         |  |  |  |  |        |   | $     | 548   |  
|                           |                                                      |  |        |         |  |  |  |  |        |   |       |      
|                           | Balance at June 30, 2000                             |  |        |         |  |  |  |  |        |   | $     | 548   |  
|                          
|                          
|                          
|                          
|Common Stock Expense      
|                          
|                          
|                          
|                          
|                           | Balance at beginning of year                         |  |        |         |  |  |  |  |        |   | $     | (48   | )
|                           |                                                      |  |        |         |  |  |  |  |        |   |       |      
|                           | Balance at June 30, 2000                             |  |        |         |  |  |  |  |        |   | $     | (48   | )
|                          
|                          
|                          
|                          
|Retained Earnings         
|                          
|                          
|                          
|                          
|                           | Balance at beginning of year                         |  |        |         |  |  |  |  |        |   | $     | 1,677 |  
|                          
|                          
|                          
|                          
|                           | Net income                                           |  |        |         |  |  |  |  |        |   |       | 188   |  
|                          
|                          
|                          
|                          
|                           | Dividends declared on common stock
($1.10 per share) |  |        |         |  |  |  |  |        |   |       | (160  | )
|                          
|                          
|                          
|                          
|                           | Other                                                |  |        |         |  |  |  |  |        |   |       | 3     |  
|                           |                                                      |  |        |         |  |  |  |  |        |   |       |      
|                           | Balance at June 30, 2000                             |  |        |         |  |  |  |  |        |   | $     | 1,708 |  
|                           |                                                      |  |        |         |  |  |  |  |        |   |       |      
|Total Shareholders Equity |                                                      |  |        |         |  |  |  |  |        | $ | 3,659 |      
|                           |                                                      |  |        |         |  |  |  |  |        |   |       |      

See Notes to Condensed Consolidated Financial Statements (Unaudited).

15



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##### Table of Contents



DTE Energy Company and The Detroit Edison Company
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 1  SIGNIFICANT ACCOUNTING POLICIES

These condensed consolidated financial statements (unaudited) should be read in
conjunction with the Annual Report Notes and the Quarterly Report Notes. The
Notes contained herein update and supplement matters discussed in the Annual
Report Notes and the Quarterly Report Notes.

The preparation of the financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.

The condensed consolidated financial statements are unaudited, but in the
opinion of the Company and Detroit Edison, with respect to its own financial
statements, include all adjustments necessary for a fair statement of the
results for the interim periods. Financial results for this interim period are
not necessarily indicative of results that may be expected for any other
interim period or for the fiscal year.

Certain prior year balances have been reclassified to conform to the current
years presentation.

The Securities and Exchange Commission Staff (staff) issued Staff Accounting
Bulletin (SAB) No. 101 in December 1999. This staff accounting bulletin
summarizes certain of the staffs views in applying generally accepted
accounting principles to revenue recognition in financial statements. The
effective date of SAB No. 101 has been delayed until the fourth quarter ended
December 31, 2000. At June 30, 2000, the Company and Detroit Edison have not
yet determined the impact the adoption of SAB No. 101 will have on the
Companys and Detroit Edisons financial statements.

NOTE 2  MERGER AGREEMENT

As discussed in Note 2 of the Annual Report Notes, the Company has entered
into a definitive merger agreement with MCN. The proposed merger is being
reviewed by the Federal Trade Commission (FTC) pursuant to the
Hart-Scott-Rodino Act. The FTC staff has focused primarily on possible
competition between the Company and MCN for cogeneration load and other
gas/electric displacement technologies in the companies coincident retail
distribution areas. The Company and MCN are taking action to address issues
raised by the FTC staff, including consideration of the potential sale of
capacity on the Michigan Consolidated Gas Co. system. Because of the length of
the FTC review, it appears unlikely that the transaction can be completed
before the fourth quarter of this year.

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##### Table of Contents



NOTE 3  REGULATORY MATTERS

On June 3, 2000, Michigan Governor John Engler signed Enrolled Senate Bill No.
937, Public Act 141 of 2000 (PA 141), which provides Detroit Edison with the
right to recover stranded costs, codifies and
establishes a date certain for the MPSCs existing electric customer choice
program, and requires the MPSC to reduce electric residential rates by 5%.

On
that same date, the Governor signed Enrolled Senate Bill No. 1253, Public Act
142 of 2000 (PA 142).
PA 142 provides for the recovery through securitization of qualified costs,
which consist of an electric utilitys regulatory assets plus various costs
associated with, or resulting from, the establishment of a competitive electric
market and the issuance of securitization bonds. In order to recover its
qualified costs, Detroit Edison must apply to the MPSC for authority to issue
the securitization bonds, which may not exceed 15 years in term. Before the
bonds may be issued, the MPSC is required to make findings that recovery of the
qualified costs will provide tangible and quantifiable benefits to customers.
PA 142 requires Detroit Edison to retire debt and equity with the proceeds of
securitization bonds. An annual reconciliation of securitization charges is
also required by statute.

In an Application for a Financing Order filed July 5, 2000, Detroit
Edison requested that the MPSC, as permitted by PA 142, make the necessary
statutory findings and rulings to permit Detroit Edison to securitize certain
qualified costs in the amount of $1.850 billion. These qualified costs include Fermi 2 costs, MPSC-approved
restructuring costs, costs of certain regulatory assets, and electric choice
implementation costs. In addition, the initial and periodic costs of issuance
associated with securitization bonds, as well as the costs of retiring and
refunding securities with the proceeds of securitization, are qualified costs.
Buyout or buydown of power purchase contract costs, and employee retraining and
transition costs, are also qualified costs, and may be included in a future
filing.

By statute, the Application for a Financing Order is to be treated as an
expedited contested case proceeding and the MPSC is to act upon such
Application no later than 90 days after the electric utility filed its
application.

The issuance of securitization bonds is expected to result in an overall
revenue requirement reduction for Detroit Edison. Acting pursuant to PA 141,
in an order issued June 5, 2000, the MPSC immediately reduced Detroit Edisons residential
electric rates by 5%, or approximately $65 million on an annual basis, and
imposed a rate freeze for all classes of customers through 2003. Since rate
reductions will be funded through securitization savings, Detroit Edison
deferred $9 million for the residential rate reduction in the second quarter of
2000. Detroit Edison anticipates that a total of approximately $42 million
will be deferred until securitization bonds are issued, which is expected to
occur

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##### Table of Contents



by December 31, 2000. Savings resulting from securitization are, by
statute, to be utilized as available in the following priority order: the 5%
residential rate reduction, rate reductions for other customers up to 5%,
funding of the low income/energy efficiency fund, and to pay for stranded and
transition costs.

The legislation also contains provisions preventing rate increases for
residential customers through 2005, for small business customers through 2004
and remaining business customers through 2003. Certain costs may be deferred
after 2003 and during the period that rate increases are impermissible. This
rate cap may be lifted when certain market test provisions are met, namely, an
electric utility has no more than 30% of generation capacity in its market,
with allowance for capacity needed to meet a utilitys responsibility to serve
its customers. Statewide, multi-utility transmission system improvements are
also required. If these market conditions and transmission improvements
conditions are not met, the rate freeze may continue through 2013.

In addition, as a result of the legislation the Company must:



| |  | File an application to unbundle its commercial and industrial rates by June 5, 2001,                                      
|- |  | --------------------------------------------------------------------------------------------------------------------------
| 
| |  | Join a FERC approved Regional Transmission
Organization (RTO) or divest its interest in transmission by December 31, 2001,
| 
| |  | Continue to provide service to customers who wish to take service from Detroit Edison, and                                
| 
| |  | Establish a worker transition program for workers that might be displaced.                                                

As a result of the legislation discussed above, in several orders issued on
June 19, 2000, the MPSC determined that adjusting rates for changes in PSCR
expenses through continuance of the PSCR clause would be inconsistent with the
new statutes. Therefore, the MPSC dismissed Detroit Edisons application for
reconciliation of its 1999 PSCR revenues and expenses, its application for
approval of its 2000 PSCR plan, and did not allow Detroit Edison to collect the
1998 PSCR underrecovery of $8.6 million plus accrued interest of $3.0 million.
Detroit Edison reversed approximately $55 million of liabilities associated
with the PSCR clause as of the effective date of the legislation. Parties have filed Claims of Appeal
regarding the 1999 and 2000 PSCR issues with the Michigan Court of Appeals.
The Company is not able to determine the timing or outcome of these
proceedings.

Detroit Edison is unable to predict the outcome of the matters
discussed herein. Resolution of these matters is dependent upon
future MPSC orders which may impact the financial position of Detroit
Edision.

NOTE 4  SHAREHOLDERS EQUITY

The Companys board of directors has authorized the repurchase of up to 10
million common shares, with the current program tentatively set to not exceed
$100 million. Stock purchases are made from time to time on the open market or
through negotiated transactions. All common stock repurchased will be
canceled. During the six month period ended June 30, 2000, the Company
repurchased approximately 2.3 million shares at an aggregate cost of
approximately $70 million.

18



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##### Table of Contents



NOTE 5  SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS

At June 30, 2000, Detroit Edison had total short-term credit arrangements of
approximately $506 million under which $182 million of commercial paper was
outstanding. Additionally, Detroit Edison had a $200 million trade receivables
sales agreement under which $200 million was outstanding at June 30, 2000.

At June 30, 2000, DTE Capital had $240 million of commercial paper outstanding.
A $400 million short-term credit arrangement, backed by a Support Agreement
from the Company, provided credit support for this commercial paper.

During the first quarter of 2000, plans were announced to terminate DTE
Capitals operations. Subsequently, the Company assumed all of DTE Capitals
outstanding guarantees. Currently the Company is authorized to issue up to
$350 million of new guarantees. At June 30, 2000, the Company had assumed
and/or issued guarantees of various consolidated affiliate obligations of $225 million.

NOTE 6  FINANCIAL INSTRUMENTS

The Company has entered into a series of forward starting interest rate swaps
and Treasury locks in order to limit the Companys sensitivity to interest rate
fluctuations associated with its anticipated issuance of long-term debt to be
used to finance the merger with MCN. The Company has designated these
instruments as hedges. The Company expects to issue this debt subsequent to
the merger. The forward starting swaps, which include notional amounts of $250
million and $450 million in 5 and 10-year maturities, respectively, have a
weighted average interest rate of 7.55% and 7.61%, respectively. The Treasury
locks, which include notional amounts of $50 million and $150 million in 10 and
30-year maturities, respectively, have a weighted average interest rate of
6.01% and 6.26%, respectively. At June 30, 2000, the fair value of these
derivative financial instruments indicated an unrealized loss of approximately
$17 million. The unrealized loss is not reflected in the financial statements
at June 30, 2000, but would be recognized as a deferred item upon issuance of
the anticipated long-term debt. The deferred item would be amortized through
interest expense over the life of the associated long-term debt as a yield
adjustment.

Trading activities of DTE Energy Trading, Inc. (DTE ET) are accounted for using
the mark to market method of accounting. Net unrealized gains from such
contracts were $18 million and $2 million at June 30, 2000 and June 30, 1999,
respectively.

The Companys non regulated energy marketing subsidiary enters into commitments
to deliver electricity to retail customers outside southeast Michigan. To
limit its exposure to price volatility on the electricity it purchases to
fulfill its commitments, it enters into forward purchase commitments with DTE
ET. DTE ET also enters into forward purchase commitments with third parties to
cover its commitments to deliver electricity to the energy marketing
subsidiary. All such contracts have been designated as hedges of the
anticipated sale of electricity to the energy marketing company and the retail
customer, respectively. As such, unrealized gains on these contracts of $15
million have not been reflected in the consolidated financial statements at
June 30, 2000.

19



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##### Table of Contents



NOTE 7  COMMITMENTS AND CONTINGENCIES

As discussed in the Annual Report, in July 1999, ABATE made a filing with
the MPSC indicating that Detroit Edisons retail rates produce approximately
$333 million of excess revenues. Of this amount, approximately $202 million is
related to ABATEs proposed reversal of the December 28, 1998 MPSC Order
authorizing the accelerated amortization of Fermi 2.
On June 19, 2000, the MPSC dismissed with prejudice the complaint filed
initially by ABATE in 1997 alleging that Detroit Edisons rates produced
excessive revenues. A Proposal for Decision issued in March 2000 by an
administrative law judge had recommended that Detroit Edisons electric rates
be reduced by approximately $101.6 million. In dismissing the complaint, the
MPSC indicated that adjusting rates would be inconsistent with PA 141. ABATE
has filed a motion with the MPSC requesting rehearing, asking that the parties
be allowed to address whether excess earnings can be used as an offset against,
at least, electric choice implementation costs. The MPSC has not acted on the
motion. The Company is unable to predict the outcome of this proceeding.

As discussed in the Annual Report, the EPA has issued ozone transport
regulations, final new air quality standards relating to ozone and particulate
air pollution and a SIP (State Implementation Plan) call giving states a year
to develop new regulations to limit nitrogen oxide (NOx) emissions because of
their contribution to ozone formation. In June 2000, the U.S. Court of
Appeals refused to rehear a decision upholding the SIP call. The State of
Michigan has indicated its intention to appeal the decision to the U.S. Supreme
Court. Unless it is reversed, it is estimated that Detroit Edison will incur
approximately $400 million in capital expenditures to comply. Under the
recently enacted Michigan electric restructuring legislation, beginning January
1, 2004, annual return of and on this capital expenditure would be deferred
until after the expiration of the rate cap period presently expected to end
December 31, 2005.

NOTE 8  SEGMENT AND RELATED INFORMATION

The Companys reportable business segment is its electric utility, Detroit
Edison, which is engaged in the generation, purchase, transmission,
distribution and sale of electric energy in a 7,600 square mile area in
Southeastern Michigan. All Other includes non-regulated energy-related
businesses and services, which develop and manage electricity and other
energy-related projects, and engage in domestic energy trading and marketing.
Inter-segment revenues are not material. Income taxes are allocated based on
intercompany tax sharing agreements, which generally allocate the tax benefit
of alternate fuels tax credits and accelerated depreciation to the respective
subsidiary, without regard to the subsidiarys own net income or whether such
tax benefits are realized by the Company. Financial data for business segments
are as follows:

20



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##### Table of Contents



|                                 |  |          |       |  |  |       |  |                  |  |              |     |            |  |   |     |   |  |   |       | 
|-------------------------------- |  | -------- | ----- |  |  | ----- |  | ---------------- |  | ------------ | --- | ---------- |  | - | --- | - |  | - | ----- | 
|                                 |  | Electric |       |  |  | All   |  | Reconciliations 
|                                 |  | Utility  |       |  |  | Other |  | and Eliminations |  | Consolidated
|                                 |  |          |       |  |  |       |  |                  |  |             
|Three Months Ended June 30, 2000 |  |          |       |  |  |       |  |                  |  |              |     | (Millions) |  |   |     |   |  |   |      
|                                
|                                
|                                
|                                
|Operating revenues               |  | $        | 1,071 |  |  |       |  |                  |  | $            | 357 |            |  | $ |    |   |  | $ | 1,428 | 
|                                
|                                
|                                
|                                
|Net income                       |  |          | 91    |  |  |       |  |                  |  |              | 22  |            |  |   | (5  | ) |  |   | 108   | 
|                                
|                                
|                                
|                                
|Six Months Ended June 30, 2000  
|                                
|                                
|                                
|                                
|Operating revenues               |  | $        | 2,020 |  |  |       |  |                  |  | $            | 590 |            |  | $ |    |   |  | $ | 2,610 | 
|                                
|                                
|                                
|                                
|Net income                       |  |          | 188   |  |  |       |  |                  |  |              | 44  |            |  |   | (7  | ) |  |   | 225   | 
|                                 |  |         
|                                
|                                
|                                
|                                
|Three Months Ended June 30, 1999 |  |          |       |  |  |       |  |                  |  |              |     | (Millions) |  |   |     |   |  |   |      
|                                
|                                
|                                
|                                
|Operating revenues               |  | $        | 1,006 |  |  |       |  |                  |  | $            | 144 |            |  | $ |    |   |  | $ | 1,150 | 
|                                
|                                
|                                
|                                
|Net income                       |  |          | 107   |  |  |       |  |                  |  |              | 10  |            |  |   | (7  | ) |  |   | 110   | 
|                                
|                                
|                                
|                                
|Six Months Ended June 30, 1999  
|                                
|                                
|                                
|                                
|Operating revenues               |  | $        | 1,917 |  |  |       |  |                  |  | $            | 257 |            |  | $ |    |   |  | $ | 2,174 | 
|                                
|                                
|                                
|                                
|Net income                       |  |          | 211   |  |  |       |  |                  |  |              | 24  |            |  |   | (10 | ) |  |   | 225   | 
|                                 |  |         

This Quarterly Report on Form 10-Q, including the report of Deloitte & Touche
LLP (on page 22) will automatically be incorporated by reference in the
Prospectuses constituting part of the Registration Statements on Form S-3
(Registration Nos. 33-53207, 33-64296 and 333-65765) of The Detroit Edison
Company and Form S-8 (Registration No. 333-00023), Form S-4 (Registration No.
333-89175) and Form S-3 (Registration No. 33-57545) of DTE Energy Company,
filed under the Securities Act of 1933. Such report of Deloitte & Touche LLP,
however, is not a report or part of the Registration Statement within the
meaning of Sections 7 and 11 of the Securities Act of 1933 and the liability
provisions of Section 11(a) of such Act do not apply.

21



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##### Table of Contents



Independent Accountants Report

To the Board of Directors and Shareholders of DTE Energy Company and
The Detroit Edison Company

We have reviewed the accompanying condensed consolidated balance sheets of DTE
Energy Company and subsidiaries and of The Detroit Edison Company and
subsidiaries as of June 30, 2000, and the related condensed consolidated
statements of income for the three-month and six-month periods ended June 30,
2000 and 1999, the condensed consolidated statements of cash flows for the
six-month periods ended June 30, 2000 and 1999, and the condensed consolidated
statements of changes in shareholders equity for the six-month period ended
June 30, 2000. These financial statements are the responsibility of DTE Energy
Companys management and of The Detroit Edison Companys management.

We conducted our reviews in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical procedures to
financial data and of making inquiries of persons responsible for financial and
accounting matters. It is substantially less in scope than an audit conducted
in accordance with auditing standards generally accepted in the United States
of America, the objective of which is the expression of an opinion regarding
the financial statements taken as a whole. Accordingly, we do not express such
an opinion.

Based on our reviews, we are not aware of any material modifications that
should be made to such condensed consolidated financial statements for them to
be in conformity with accounting principles generally accepted in the United
States of America.

We have previously audited, in accordance with auditing standards generally
accepted in the United States of America, the consolidated balance sheets of
DTE Energy Company and subsidiaries and of The Detroit Edison Company and
subsidiaries as of December 31, 1999, and the related consolidated statements
of income, changes in shareholders equity, and cash flows for the year then
ended (not presented herein); and in our report dated January 26, 2000, we
expressed an unqualified opinion on those consolidated financial statements.
In our opinion, the information set forth in the accompanying condensed
consolidated balance sheets as of December 31, 1999 is fairly stated, in all
material respects, in relation to the consolidated balance sheets from which it
has been derived.

DELOITTE & TOUCHE LLP

Detroit, Michigan
August 9, 2000

22



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##### Table of Contents



Item 2  Managements Discussion and Analysis of Financial Condition and
Results of Operations.

This analysis for the three and six months ended June 30, 2000, as compared to
the same periods in 1999, should be read in conjunction with the condensed
consolidated financial statements (unaudited), the accompanying Notes, the
Quarterly Report Notes and the Annual Report Notes.

Detroit Edison is the principal operating subsidiary of the Company and, as
such, unless otherwise identified, this discussion explains material changes in
results of operations of both the Company and Detroit Edison and identifies
recent trends and events affecting both the Company and Detroit Edison.

GROWTH

As discussed in the Annual Report, in order to sustain earnings growth with an
objective of 6% growth annually, the Company and Detroit Edison have developed
a business strategy focused on core competencies, consisting of expertise in
developing, managing and operating energy assets, including coal sourcing,
blending and transportation skills.

As discussed in Note 2, the Company and MCN have entered into a merger
agreement. The Company expects that completion of the merger will result in the
issuance of approximately 30 million shares of its common stock and
approximately $1.4 billion in external financing. The merger is expected to
create a fully integrated electric and natural gas company that is expected to
strongly support the Companys commitment to a long-term earnings growth rate
of 6%. The merger is expected to permit the Company to be responsive to
competitive pressures. The external financing needs of the merger may create a
sensitivity to interest rate changes; and the Company will need to successfully
integrate the two operations in order to be able to service the expected debt
requirements and achieve aggregate operating cost reductions. The delay in
the receipt of regulatory approvals may impact the accretive effect on earnings
in 2001 resulting from the proposed transaction. See Note 2 and 6 for further
discussion of the pending DTE/MCN merger and the financial instruments used to
hedge the interest rate risk associated with financing the merger.

The Companys earnings are largely dependent upon the earnings of Detroit
Edison and the utilization of alternate fuels tax credits generated from
non-regulated businesses. Securitization, discussed in Note 3, is expected
to reduce Detroit Edisons
earnings, which may impact the Companys ability to utilize all future
available alternate fuels tax credits.

23



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##### Table of Contents



ELECTRIC INDUSTRY RESTRUCTURING

Michigans Customer Choice and Electricity Reliability Act

See Note 3 for discussion of Public Acts 141 and 142 of 2000 (PA 141 and PA
142), new legislation signed into effect on June 3, 2000 by Michigan Governor
John Engler.

Michigan Public Service Commission

The MPSC ordered Detroit Edison to file by September 20, 2000 revised tariffs
governing both the experimental and the main electric choice programs, with
any revisions that are appropriate to comply with PA 141 and PA 142, and to
remedy problems that customers have experienced thus far. The MPSC will then
conduct a contested case proceeding to resolve any issues.

Federal Energy Regulatory Commission

On May 18, 2000, the FERC issued an order in response to the filing that the
Alliance RTO, which includes Detroit Edison, made on February 17, 2000.
The order indicated that the compliance filing does not fully satisfy the
requirements of the original order, and directed the Alliance to make
additional filings, but did not set any filing deadlines. The FERC indicated
that the Alliance still did not meet the independence requirements with its
governance structure, and reserved the judgement on the rate design and scope
and configuration until further detail is provided in future filings.

On June 29, 2000, the FERC approved Detroit Edisons May 4, 2000 request to
transfer its transmission facilities and agreements to a subsidiary, the
International Transmission Company (ITC). The disposition is intended to be a
first step in the Detroit Edisons efforts to divest the transmission business to an
entity qualified to join an RTO. On July
28, 2000, ITC filed an application with the FERC
for transmission rate treatment, pursuant to the FERCs Order 2000. The
application proposed a rate moratorium based upon the Michigan legislative rate
freeze and the transmission component of Detroit Edisons formerly bundled
retail rates. The rate would yield a revenue level of approximately $138
million annually, and is subject to refund if certain independence and RTO
compliance conditions are not met.

LIQUIDITY AND CAPITAL RESOURCES

Cash From Operating Activities

Net cash from operating activities was lower for the Company due primarily to
increases in accounts receivable and changes in other assets and liabilities.

Net cash from operating activities was lower for Detroit Edison due primarily
to decreased net income and changes in other assets and liabilities.

24



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##### Table of Contents



Cash Used for Investing Activities

Net cash used for investing activities was higher for the Company due to
increased non-regulated plant and equipment expenditures.

Net cash used for investing activities was lower for Detroit Edison due to
decreased plant and equipment expenditures.

Cash Used for Financing Activities

Net cash used for financing activities was lower for the Company due primarily
to the issuance of long-term debt and increased short-term borrowings,
partially offset by the redemption of common stock and long-term debt.

Net cash used for financing activities was higher for Detroit Edison due
primarily to increased redemptions of long-term debt and reduced short-term
borrowings, partially offset by the issuance of long-term debt.

Detroit Edison has called for redemption, on September 1, 2000, all outstanding
County of Monroe, Michigan Series I-1990 Pollution Control Revenue Bonds
($50,745,000, 7.65%) at a price of 102%. These bonds are to be refinanced with
an issue of tax exempt bonds by the Michigan Strategic Fund.

RESULTS OF OPERATIONS

For the three months ended June 30, 2000, the Companys net income was $108
million or $0.76 per common share as compared to $110 million or $0.76 per
common share during the same period in 1999. For the six months ended June 30,
2000, net income was $225 million or $1.57 per common share compared to $225
million or $1.55 per common share during the same period in 1999.

The 2000 three and six months earnings remained relatively stable compared to
1999 due to higher electric system sales and the effects of the June 2000
legislation and corresponding MPSC orders, offset by higher unit fuel costs and
increased energy purchases. Operating expenses were higher due to a
catastrophic storm in May 2000, increased generation and system maintenance and
merger expenses, partially offset by Year 2000 testing and remediation expenses
included last year. In addition, the Companys non-regulated subsidiaries
contributed higher earnings in the three and six months periods compared to
1999. A share repurchase program in 2000 accounted for slight differences in
year over year earnings per common share amounts.

25



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##### Table of Contents



Operating Revenues

Operating revenues were $2.61 billion, up approximately 20% from 1999 operating
revenues of $2.17 billion. Operating revenues increased (decreased) due to the
following:

|      |                |                                                     |                      |   |              |     |            |   |     |     | 
|----- | -------------- | --------------------------------------------------- | -------------------- | - | ------------ | --- | ---------- | - | --- | --- | 
|      |                |                                                     |                      |   | Three Months |     | Six Months
|      |                |                                                     |                      |   |              |     |           
|      |                |                                                     |                      |   | (Millions)  
|      | Detroit Edison
|     
|     
|     
|     
|      |                | Rate change                                         |                      | $ | 9            |     |            | $ | 13  |    
|     
|     
|     
|     
|      |                | System sales volume and mix                         |                      |   | 12           |     |            |   | 49  |    
|     
|     
|     
|     
|      |                | Cessation of PSCR mechanism                         |                      |   | 55           |     |            |   | 55  |    
|     
|     
|     
|     
|      |                | Wholesale sales                                     |                      |   | (3           | )   |            |   | (10 | )  
|     
|     
|     
|     
|      |                | Other  net                                         |                      |   | (8           | )   |            |   | (4  | )  
|      |                |                                                     |                      |   |              |     |            |  
|      |                |                                                     | Total Detroit Edison |   |              | 65  |            |   |     | 103 | 
|     
|     
|     
|     
|      | Non-regulated 
|     
|     
|     
|     
|      |                | DTE Energy Resources
(excluding DTE Energy Trading) |                      |   | 16           |     |            |   | 42  |    
|     
|     
|     
|     
|      |                | DTE Energy Trading                                  |                      |   | 194          |     |            |   | 293 |    
|     
|     
|     
|     
|      |                | Other  net                                         |                      |   | 3            |     |            |   | (2  | )  
|      |                |                                                     |                      |   |              |     |            |  
|      |                |                                                     | Total Non-Regulated  |   |              | 213 |            |   |     | 333 | 
|      |                |                                                     |                      |   |              |     |            |  
|Total |                | $                                                   | 278                  |   |              | $   | 436        |  
|      |                |                                                     |                      |   |              |     |            |  

Detroit Edison kWh sales increased (decreased) as compared to the prior year as
follows:

|                                            |              |  |        |      |        |  |       |      |  
|------------------------------------------- | ------------ |  | ------ | ---- | ------ |  | ----- | ---- | -
|                                            |              |  | Three  |      | Six   
|                                            |              |  | Months |      | Months
|                                            |              |  |        |      |       
|Residential                                 |              |  | 1.0    | %    |        |  | 0.4   | %   
|                                           
|                                           
|                                           
|                                           
|Commercial                                  |              |  | (2.2   | )    |        |  | 0.4   |     
|                                           
|                                           
|                                           
|                                           
|Industrial                                  |              |  | 7.6    |      |        |  | 9.5   |     
|                                           
|                                           
|                                           
|                                           
|Other (includes primarily sales for resale) |              |  | 3.7    |      |        |  | 3.7   |     
|                                           
|                                           
|                                           
|                                           
|                                            | Total System |  |        | 1.8  |        |  |       | 3.3  |  
|                                           
|                                           
|                                           
|                                           
|Wholesale sales                             |              |  | (67.4  | )    |        |  | (61.1 | )   
|                                           
|                                           
|                                           
|                                           
|                                            | Total        |  |        | (2.2 | )      |  |       | (1.3 | )

Operating Expenses

Fuel and Purchased Power

Fuel and purchased power expense increased for the Company due primarily to
non-regulated subsidiary expenses, principally energy trading operations.
Detroit Edison

26



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##### Table of Contents



fuel and purchased power expense increased due to increased
purchases of energy. The increased costs are partially offset by lower coal
and nuclear generation costs.

System output and average fuel and purchased power unit costs for Detroit Edison were as follows:

|                          |                 |  |                    |        |            |  |        |       |      |  |        |        |  |  |        |        | 
|------------------------- | --------------- |  | ------------------ | ------ | ---------- |  | ------ | ----- | ---- |  | ------ | ------ |  |  | ------ | ------ | 
|                          |                 |  | Three Months       |        | Six Months
|                          |                 |  |                    |        |           
|                          |                 |  | 2000               |        | 1999       |  | 2000   |       | 1999
|                          |                 |  |                    |        |            |  |        |       |     
|                          |                 |  | (Thousands of MWh)
|Power plant generation   
|                         
|                         
|                         
|                         
|                          | Fossil          |  |                    | 10,036 |            |  |        | 9,700 |      |  |        | 19,893 |  |  |        | 20,174 | 
|                         
|                         
|                         
|                         
|                          | Nuclear         |  |                    | 963    |            |  |        | 2,252 |      |  |        | 3,352  |  |  |        | 4,651  | 
|                         
|                         
|                         
|                         
|Purchased power           |                 |  | 3,246              |        |            |  | 2,442  |       |      |  | 5,218  |        |  |  | 3,773  |       
|                          |                 |  |                    |        |            |  |        |       |      |  |        |        |  |  |        |       
|System output             |                 |  | 14,245             |        |            |  | 14,394 |       |      |  | 28,463 |        |  |  | 28,598 |       
|                          |                 |  |                    |        |            |  |        |       |      |  |        |        |  |  |        |       
|Average unit cost ($/MWh)
|                         
|                         
|                         
|                         
|                          | Generation      |  | $                  | 15.30  |            |  | $      | 12.49 |      |  | $      | 14.23  |  |  | $      | 12.39  | 
|                          |                 |  |                    |        |            |  |        |       |      |  |        |        |  |  |        |       
|                         
|                         
|                         
|                         
|                          | Purchased power |  | $                  | 49.44  |            |  | $      | 46.09 |      |  | $      | 41.71  |  |  | $      | 38.65  | 
|                          |                 |  |                    |        |            |  |        |       |      |  |        |        |  |  |        |       

Operation and Maintenance

The Companys operation and maintenance expenses increased for the three and
six month periods due to the following:

|                           |                                                              |   |            |     |        |   |    |     |  
|-------------------------- | ------------------------------------------------------------ | - | ---------- | --- | ------ | - | -- | --- | -
|                           |                                                              |   | Three      |     | Six   
|                           |                                                              |   | Months     |     | Months
|                           |                                                              |   |            |     |       
|                           |                                                              |   | (Millions)
|Detroit Edison            
|                          
|                          
|                          
|                          
|                           | May 2000 catastrophic storm                                  |   | $          | 13  |        |   | $  | 13  |  
|                          
|                          
|                          
|                          
|                           | Merger                                                       |   |            | 7   |        |   |    | 13  |  
|                          
|                          
|                          
|                          
|                           | Generation reliability and maintenance                       |   |            | 5   |        |   |    | 9   |  
|                          
|                          
|                          
|                          
|                           | System and customer enhancements                             |   |            |    |        |   |    | 8   |  
|                          
|                          
|                          
|                          
|                           | General and administrative                                   |   |            | 3   |        |   |    | 5   |  
|                          
|                          
|                          
|                          
|                           | Year 2000                                                    |   |            | (17 | )      |   |    | (35 | )
|                          
|                          
|                          
|                          
|                           | Other                                                        |   |            |    |        |   |    | 1   |  
|                           |                                                              |   |            |     |        |   |    |    
|                           |                                                              |   | 11         |     |        |   | 14 |    
|                          
|                          
|                          
|                          
|Non-regulated subsidiaries
|                          
|                          
|                          
|                          
|                           | Increased level of operations and addition of
new businesses |   |            | 11  |        |   |    | 38  |  
|                           |                                                              |   |            |     |        |   |    |    
|                          
|                          
|                          
|                          
|                           |                                                              | $ | 22         |     |        | $ | 52 |    
|                           |                                                              |   |            |     |        |   |    |    

Depreciation and Amortization

Depreciation and amortization expense was higher due to higher levels of plant
in service and the accelerated amortization of regulatory assets associated
with unamortized nuclear costs.

27



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##### Table of Contents



FORWARD-LOOKING STATEMENTS

Certain information presented herein is based on the expectations of the
Company and Detroit Edison, and, as such, is forward-looking. The Private
Securities Litigation Reform Act of 1995 encourages reporting companies to
provide analyses and estimates of future prospects and also permits reporting
companies to point out that actual results may differ from those anticipated.

Actual results for the Company and Detroit Edison may differ from those
expected due to a number of variables including, but not limited to, interest
rates, the level of borrowings, weather, actual sales, changes in the cost of
fuel and purchased power due to cessation of the PSCR mechanism, the effects of
competition and the phased-in implementation of Electric Choice, the
implementation of utility restructuring in Michigan (which involves pending and
proposed regulatory proceedings, the recovery of stranded costs, and possible reductions in rates and earnings), environmental
and nuclear requirements, the impact of FERC proceedings and regulations, and
the success of non-regulated lines of business. In addition, expected results
will be affected by the Companys pending merger with MCN. While the Company
and Detroit Edison believe that estimates given accurately measure the expected
outcome, actual results could vary materially due to the variables mentioned,
as well as others.

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##### Table of Contents



Item 3  Quantitative and Qualitative Disclosures About Market Risk.

INTEREST RATE RISK

The Company is subject to interest rate risk in conjunction with the
anticipated issuance of long-term debt to be used to finance the merger with
MCN. The Companys exposure to interest rate risk arises from market
fluctuations in interest rates until the date of the anticipated debt issuance.
In order to limit the sensitivity to interest rate fluctuations, the Company
has entered into a series of forward starting interest rate swaps and Treasury
locks and designated such instruments as hedges. See Note 6 for further
discussion of these derivative financial instruments.

A sensitivity analysis model was used to calculate the fair values of the
Companys derivative financial instruments, utilizing applicable market
interest rates in effect at June 30, 2000. The sensitivity analysis involved
increasing and decreasing the market rates by a hypothetical 10% and
calculating the resulting change in the fair values of the interest rate
sensitive instruments. The favorable (unfavorable) changes in fair value are
as follows:

|                   |                                                        |           |   |                   |      |                   |   |      |       |  
|------------------ | ------------------------------------------------------ | --------- | - | ----------------- | ---- | ----------------- | - | ---- | ----- | -
|                   |                                                        |           |   | Assuming A 10%    |      | Assuming A 10%   
|                   |                                                        |           |   | Increase in Rates |      | Decrease in Rates
|                   |                                                        |           |   |                   |      |                  
|                   |                                                        |           |   | (Millions)       
|Interest Rate Risk
|                  
|                  
|                  
|                  
|                   | Interest Rate Sensitive
Forward Starting Swap  5-year |           | $ | 6.7               |      |                   | $ | (7.7 | )    
|                  
|                  
|                  
|                  
|                   |                                                        |  10-year |   |                   | 20.4 |                   |   |      | (32.7 | )
|                  
|                  
|                  
|                  
|                   | Treasury Lock  10-year                                |           |   | 2.0               |      |                   |   | (2.1 | )    
|                  
|                  
|                  
|                  
|                   |                                                        |  30-year |   |                   | 11.6 |                   |   |      | (12.9 | )

MARKET RISK

The Company measures the risk inherent in DTE Energy Trading, Inc.s (DTE ET)
portfolio utilizing VaR analysis and other methodologies, which simulate
forward price curves in electric power markets to quantify estimates of the
magnitude and probability of potential future losses related to open contract
positions. DTE ETs VaR expresses the potential loss in fair value of its
forward contract and option position over a particular period of time, with a
specified likelihood of occurrence, due to an adverse market movement. The
Company reports VaR as a percentage of its earnings, based on a 95% confidence
interval, utilizing 10 day holding periods. As of June 30, 2000, the
Companys VaR from its power marketing and trading activities was less than 1%
of the Companys consolidated Income Before Income Taxes for the six month
period ended June 30, 2000. The VaR model uses the variance-covariance
statistical modeling technique, and implied and historical volatilities and
correlations over the past 20 day period. The estimated market prices used to
value these transactions for VaR purposes reflect the use of established
pricing models and various factors

29



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##### Table of Contents



including quotations from exchanges and
over-the-counter markets, price volatility factors, the time value of
money, and location differentials. For further information, see the Companys
and Detroit Edisons Note 6  Financial Instruments.

30



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##### Table of Contents



QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY




PART II  OTHER INFORMATION




Item 4  Submission of Matters to a Vote of Security Holders.



|(a) |  | The annual meeting of the holders of Common Stock of the Company was held
on April 14, 2000. Proxies for the meeting were solicited pursuant to
Regulation 14(a).                            
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|   
|   
|   
|(b) |  | There was no solicitation in opposition to the Board of Directors
nominees, as listed in the proxy statement, for directors to be elected at
the meeting and all such nominees were elected.
|   
|   
|   
|   
|    |  | The terms of the previously elected seven directors listed below
continue until the annual meeting dates shown after each name:                                                              

|                       |  |               
|---------------------- |  | --------------
|Terence E. Adderley    |  | April 25, 2001
|                      
|                      
|                      
|                      
|Anthony F. Earley, Jr. |  | April 25, 2001
|                      
|                      
|                      
|                      
|Allan D. Gilmour       |  | April 25, 2001
|                      
|                      
|                      
|                      
|Theodore S. Leipprandt |  | April 25, 2001
|                      
|                      
|                      
|                      
|Lillian Bauder         |  | April 24, 2002
|                      
|                      
|                      
|                      
|David Bing             |  | April 24, 2002
|                      
|                      
|                      
|                      
|Larry G. Garberding    |  | April 24, 2002



|(c) |  | At the annual meeting of the holders of Common Stock of the Company held
on April 14, 2000, the following four directors were elected to serve
until the annual meeting in the Year 2003 with the votes shown:
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                      |  |            |             |           |  |            |           | 
|--------------------- |  | ---------- | ----------- | --------- |  | ---------- | --------- | 
|                      |  |            |             |           |  | Total Vote
|                      |  | Total Vote |             | Withheld 
|                      |  | For Each   |             | from Each
|                      |  | Director   |             | Director 
|William C. Brooks     |  |            | 108,382,802 |           |  |            | 2,670,280 | 
|                     
|                     
|                     
|                     
|John E. Lobbia        |  |            | 108,391,253 |           |  |            | 2,670,446 | 
|                     
|                     
|                     
|                     
|Eugene A. Miller      |  |            | 108,541,071 |           |  |            | 2,512,011 | 
|                     
|                     
|                     
|                     
|Charles W. Pryor, Jr. |  |            | 108,518,183 |           |  |            | 2,534,899 | 



| |  | Shareholders ratified the appointment of Deloitte &
Touche LLP as the Companys independent auditors for
the year 2000 with the votes shown:
| |  | --------------------------------------------------------------------------------------------------------------------------------------------

|            |  |         |         |         |  |  |           | 
|----------- |  | ------- | ------- | ------- |  |  | --------- | 
|For         |  | Against |         | Abstain
|109,528,607 |  |         | 493,909 |         |  |  | 1,032,720 | 

There were no Shareholder proposals.

31



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##### Table of Contents



(d) Not applicable.




Item 5  Other Information.

DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

On February 23, 2000 the Companys Board of Directors passed a resolution that
set the number of directors on the Board at 11 members.

David E. Meador was elected Senior Vice President and Treasurer, effective May
15, 2000. From 1995 to 1997, he was Manager, Financial and Cost Management
Strategy for Chrysler Corporation. He joined the Company in 1997 as Vice
President and Controller and was elected Vice President of Finance and
Accounting in May 1999.

On May 15, 2000, Leslie L. Loomans, Vice President and Treasurer, retired from
the Company.

32



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##### Table of Contents



QUARTERLY REPORT ON FORM 10-Q FOR THE DETROIT EDISON COMPANY




PART I  FINANCIAL INFORMATION




Item 1  Condensed Consolidated Financial Statements (Unaudited).

See pages 11 through 15.




Item 2  Managements Discussion and Analysis of Financial Condition and
Results of Operations.

See the Companys and Detroit Edisons Item 2  Managements Discussion and
Analysis of Financial Condition and Results of Operations, which is
incorporated herein by this reference.




PART II  OTHER INFORMATION




Item 5  Other Information.

DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

On February 23, 2000 Detroit Edisons Board of Directors passed a resolution
which set the number of directors on the Board at 11 members.

Douglas R. Gipson was elected Executive Vice President and Chief Nuclear
Officer for Detroit Edison, effective May 15, 2000. He was elected Senior Vice
President  Nuclear Generation in April 1993.

William T. OConnor was elected a Vice President of Detroit Edison effective
May 15, 2000. From 1995 to 1998, he was Nuclear Assessment Manager at Fermi 2
Power Plant. He was elected Assistant Vice President in 1998.

See the Companys Item 5  Other Information, Directors and Executive Officers
of the Registrant for information concerning David E. Meador and Leslie L.
Loomans.

OTHER

On June 19, 2000, the MPSC established a timetable for comments on applicable
service quality and reliability standards for electric utility transmission and
distribution systems, consistent with PA 141. The MPSC allowed interested
parties to comment on the MPSC Staffs May 1, 2000 Electric Distribution System
Performance Standards proposal. Response comments are due August 18, 2000.
With regard to transmission system reliability, the Staff is required to
consult with electric utilities operating in Michigan, customer groups, and
other relevant stakeholders, and file a final report by November 1, 2000.

33



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##### Table of Contents



On June 19, 2000, the MPSC initiated a case to establish standards for the
interconnection of merchant plants with the transmission and distribution
systems of electric utilities, consistent with PA 141. The Staff is to consult
with utilities, merchant plant owners and operators, and other relevant
stakeholders to develop recommendations. The Staff is to file a final report
with the MPSC by October 2, 2000.

On May 17, 2000, the FERC accepted DTE River Rouges request to sell power at
market based rates, and rejected Nordic Electrics complaint alleging that
Detroit Edison and its affiliates plan to deter competition by blocking
alternatives to power sales. The FERC rejected the allegations that the
company is engaging in transmission hoarding, and that the sale of facilities
by Detroit Edison to DTE River Rouge violates Section 203 of the Federal Power
Act.

See the Federal Energy Regulatory Commission section of Managements Discussion
and Analysis for discussion of the filing made on July 28, 2000 with the FERC
by International Transmission Company (ITC), a Detroit Edison subsidiary.

34



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##### Table of Contents









QUARTERLY REPORTS ON FORM 10-Q FOR
DTE ENERGY COMPANY AND THE DETROIT EDISON COMPANY

Item 6  Exhibits and Reports on Form 8-K.




(a) Exhibits

(i) Exhibits filed herewith.



| |               
| | --------------
| | Exhibit
Number

|        |  |                                                                                                                                                                                                                                     
|------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|11-19 - |  | DTE Energy Company Basic and Diluted Earnings Per
Share of Common Stock.                                                                                                                                                            
|       
|12-24 - |  | DTE Energy Company Computation of Ratio of Earnings to
Fixed Charges.                                                                                                                                                               
|       
|12-25 - |  | The Detroit Edison Company Computation of Ratio of
Earnings to Fixed Charges.                                                                                                                                                       
|       
|15-14 - |  | Awareness Letter of Deloitte & Touche LLP regarding
their report dated August 9, 2000.                                                                                                                                              
|       
|27-35 - |  | Financial Data Schedule for the period ended June
30, 2000 for DTE Energy Company.                                                                                                                                                  
|       
|27-36 - |  | Financial Data Schedule for the period ended June
30, 2000 for The Detroit Edison Company.                                                                                                                                          
|       
|(ii)    |  | Exhibits incorporated herein by reference.                                                                                                                                                                                          
|       
|2(a) -  |  | Agreement and Plan of Merger, among DTE Energy, MCN Energy Group, Inc. and DTE Enterprises, Inc., dated as of
October 4, 1999 and amended as of November 12, 1999.  (Exhibit
2-1 to Form 10-K for the year ended December 31, 1999.)
|       
|3(a) -  |  | Amended and Restated Articles of Incorporation
of DTE Energy Company Energy Company dated December 13, 1995.
(Exhibit 3-5 to Form 10-Q for quarter ended September 30,
1997.)                                                       
|       
|3(b) -  |  | Certificate of Designation of Series A Junior
Participating Preferred Stock of DTE Energy Company.  (Exhibit
3-6 to Form 10-Q for quarter ended September 30, 1997.)                                                                

35



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##### Table of Contents



|       |  |                                                                                                                                                                                                                                                                                                                 
|------ |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      
|3(c) - |  | Restated Articles of Incorporation of Detroit
Edison, as filed December 10,1991 with the State of Michigan,
Department of
Commerce - Corporation and Securities Bureau (Exhibit 3-13 to
Form 10-Q for quarter ended June 30, 1999.)                                                                             
|      
|3(d) - |  | Articles of Incorporation of DTE Enterprises,
Inc. (Exhibit 3.5 to   Registration No. 333-89175.)                                                                                                                                                                                                               
|      
|3(e) - |  | Rights Agreement, dated as of September 23,
1997, by and between DTE Energy Company and The Detroit Edison
Company, as Rights Agent (Exhibit 4-1 to DTE Energy Company
Current Report on Form 8-K, dated September 23, 1997.)                                                                                   
|      
|3(f) - |  | Agreement and Plan of Exchange (Exhibit 1(2) to
DTE Energy Form 8-B filed January 2, 1996, File No. 1-11607.)                                                                                                                                                                                                   
|      
|3(g) - |  | Bylaws of DTE Energy Company, as amended
through September 22, 1999.  (Exhibit 3-3 to Registration No.
333-89175.)                                                                                                                                                                                              
|      
|3(h) - |  | Bylaws of The Detroit Edison Company, as
amended through September 22, 1999.  (Exhibit 3-14 to Form
10-Q for quarter ended September 30, 1999.)                                                                                                                                                                 
|      
|3(i) - |  | Bylaws of DTE Enterprises, Inc. (Exhibit 3.6 to
Registration No.   333-89175.)                                                                                                                                                                                                                                  
|      
|4(a) - |  | Mortgage and Deed of Trust, dated as of October
1, 1924, between Detroit Edison (File No. 1-2198) and Bankers
Trust Company as Trustee (Exhibit B-1 to Registration No.
2-1630) and indentures supplemental thereto, dated as of dates
indicated below, and filed as exhibits to the filings as set
forth below:

|                  |  |                                                            
|----------------- |  | -----------------------------------------------------------
|September 1, 1947 |  | Exhibit B-20 to Registration No. 2-7136                    
|                 
|                 
|                 
|                 
|November 15, 1971 |  | Exhibit 2-B-38 to Registration No. 2-42160                 
|                 
|                 
|                 
|                 
|January 15, 1973  |  | Exhibit 2-B-39 to Registration No. 2-46595                 
|                 
|                 
|                 
|                 
|June 1, 1978      |  | Exhibit 2-B-51 to Registration No. 2-61643                 
|                 
|                 
|                 
|                 
|June 30, 1982     |  | Exhibit 4-30 to Registration No. 2 78941                   
|                 
|                 
|                 
|                 
|August 15, 1982   |  | Exhibit 4-32 to Registration No. 2-79674                   
|                 
|                 
|                 
|                 
|October 15, 1985  |  | Exhibit 4-170 to Form 10-K for year ended December 31, 1994
|                 
|                 
|                 
|                 
|November 30, 1987 |  | Exhibit 4-139 to Form 10-K for year ended December 31, 1992
|                 
|                 
|                 
|                 
|July 15, 1989     |  | Exhibit 4-171 to Form 10-K for year ended December 31, 1994

36



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##### Table of Contents



|                   |  |                                                                            
|------------------ |  | ---------------------------------------------------------------------------
|                  
|                  
|                  
|                  
|December 1, 1989   |  | Exhibit 4-172 to Form 10-K for year ended December 31, 1994                
|                  
|                  
|                  
|                  
|February 15, 1990  |  | Exhibit 4-173 to Form 10-K for year ended December 31, 1994                
|                  
|                  
|                  
|                  
|April 1, 1991      |  | Exhibit 4-15 to Form 10-K for year Ended December 31, 1996                 
|                  
|                  
|                  
|                  
|November 1, 1991   |  | Exhibit 4-181 to Form 10-K for year ended December 31, 1996                
|                  
|                  
|                  
|                  
|January 15, 1992   |  | Exhibit 4-182 to Form 10-K for year ended December 31, 1996                
|                  
|                  
|                  
|                  
|February 29, 1992  |  | Exhibit 4-187 to Form 10-Q for Quarter ended March 31, 1998                
|                  
|                  
|                  
|                  
|April 15, 1992     |  | Exhibit 4-188 to Form 10-Q for quarter ended March 31, 1998                
|                  
|                  
|                  
|                  
|July 15, 1992      |  | Exhibit 4-189 to Form 10-Q for Quarter ended March 31, 1998                
|                  
|                  
|                  
|                  
|July 31, 1992      |  | Exhibit 4-190 to Form 10-Q for quarter ended September 30, 1992            
|                  
|                  
|                  
|                  
|January 1, 1993    |  | Exhibit 4-131 to Registration No. 33
56496                                 
|                  
|                  
|                  
|                  
|March 1, 1993      |  | Exhibit 4-191 to Form 10-Q for quarter ended March 31, 1998                
|                  
|                  
|                  
|                  
|March 15, 1993     |  | Exhibit 4-192 to Form 10-Q for Quarter ended March 31, 1998                
|                  
|                  
|                  
|                  
|April 1, 1993      |  | Exhibit 4-143 to Form 10-Q for quarter ended March 31, 1993                
|                  
|                  
|                  
|                  
|April 26, 1993     |  | Exhibit 4-144 to Form 10-Q for quarter ended March 31, 1993                
|                  
|                  
|                  
|                  
|May 31, 1993       |  | Exhibit 4-148 to Registration No. 33
64296                                 
|                  
|                  
|                  
|                  
|June 30, 1993      |  | Exhibit 4-149 to Form 10-Q for quarter ended June 30, 1993 (1993 Series AP)
|                  
|                  
|                  
|                  
|June 30, 1993      |  | Exhibit 4-150 to Form 10-Q for quarter ended June 30, 1993 (1993 Series H) 
|                  
|                  
|                  
|                  
|September 15, 1993 |  | Exhibit 4-158 to Form 10-Q for quarter ended September 30, 1993            
|                  
|                  
|                  
|                  
|March 1, 1994      |  | Exhibit 4-163 to Registration No. 33-53207                                 
|                  
|                  
|                  
|                  
|June 15, 1994      |  | Exhibit 4-166 to Form 10-Q for quarter ended June 30, 1994                 

37



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##### Table of Contents



|                 |  |                                                                
|---------------- |  | ---------------------------------------------------------------
|                
|                
|                
|                
|August 15, 1994  |  | Exhibit 4-168 to Form 10-Q for quarter ended September 30, 1994
|                
|                
|                
|                
|December 1, 1994 |  | Exhibit 4-169 to Form 10-K for year ended December 31, 1994    
|                
|                
|                
|                
|August 1, 1995   |  | Exhibit 4-174 to Form 10-Q for quarter ended September 30, 1995
|                
|                
|                
|                
|August 1, 1999   |  | Exhibit 4-204 to Form 10-Q for quarter ended September 30, 1999
|                
|                
|                
|                
|August 15, 1999  |  | Exhibit 4-205 to Form 10-Q for quarter ended September 30, 1999
|                
|                
|                
|                
|January 1, 2000  |  | Exhibit 4-205 to Form 10-K for year ended December 31, 1999    
|                
|                
|                
|                
|April 15, 2000   |  | Exhibit 206 to Form 10-Q for quarter ended March 31, 2000.     

|       |  |                                                                                                                                                                
|------ |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------
|4(b) - |  | Collateral Trust Indenture (notes), dated as of
June 30, 1993 (Exhibit 4-152 to Registration No. 33-50325).                                                    
|      
|4(c) - |  | First Supplemental Note Indenture, dated as of
June 30, 1993 (Exhibit 4-153 to Registration No. 33-50325).                                                     
|      
|4(d) - |  | Second Supplemental Note Indenture, dated as of
September 15, 1993 (Exhibit 4-159 to Form 10-Q for quarter
ended September 30, 1993).                          
|      
|4(e) - |  | First Amendment, dated as of August 15, 1996,
to Second Supplemental Note Indenture (Exhibit 4-17 to Form
10-Q for quarter ended September 30, 1996).          
|      
|4(f) - |  | Third Supplemental Note Indenture, dated as of
August 15, 1994 (Exhibit 4-169 to Form 10-Q for quarter ended
September 30, 1994).                              
|      
|4(g) - |  | First Amendment, dated as of December 12, 1995,
to Third Supplemental Note Indenture, dated as of August 15,
1994 (Exhibit 4-12 to Registration No. 333-00023).
|      
|4(h) - |  | Sixth Supplemental Note Indenture, dated as of
May 1, 1998, between Detroit Edison and Bankers Trust Company,
as Trustee,                                      

38



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##### Table of Contents



|        |  |                                                                                                                                                                                                                                                                                                                                                                                                                                            
|------- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       
|        |  | creating the 7.54% Quarterly Income Debt
Securities (QUIDS), including form of QUIDS.  (Exhibit 4-193
to Form 10-Q for quarter ended June 30, 1998.)                                                                                                                                                                                                                                                                                     
|       
|4(i)-   |  | Seventh Supplemental Note Indenture, dated as
of October 15, 1998, between Detroit Edison and Bankers Trust
Company, as Trustee, creating the 7.375% QUIDS, including
form of QUIDS.  (Exhibit 4-198 to Form 10-K for year ended
December 31, 1998.)                                                                                                                                                                                       
|       
|4-(j) - |  | Eighth Supplemental Indenture, dated as of
April 15, 2000, appointing Bank One Trust Company of New York
as Trustee under the Detroit Edison Trust Indenture (Notes),
dated as of June 30, 1993. (Exhibit 4-207 to form 10-Q for the
quarter ended March 31, 2000.)                                                                                                                                                                        
|       
|4(k) -  |  | Standby Note Purchase Credit Facility, dated
as of August 17, 1994, among The Detroit Edison Company,
Barclays Bank PLC, as Bank and Administrative Agent, Bank of
America, The Bank of New York, The Fuji Bank Limited, the
Long-Term Credit Bank of Japan, LTD, Union Bank and Citicorp
Securities, Inc. and First Chicago Capital Markets, Inc. as
Remarketing Agents (Exhibit 99-18 to Form 10-Q for quarter
ended September 30, 1994.)
|       
|4(l)-   |  | $60,000,000 Support Agreement dated as of
January 21, 1998 between DTE Energy Company and DTE Capital
Corporation.  (Exhibit 4-183 to Form 10-K for year ended
December 31, 1997.)                                                                                                                                                                                                                                                         
|       
|4(m) -  |  | $100,000,000 Support Agreement, dated as of
June 16, 1998, between DTE Energy Company and DTE Capital
Corporation.  (Exhibit 4-194 to Form 10-Q for quarter ended
June 30, 1998.)                                                                                                                                                                                                                                                          
|       
|4(n)-   |  | $300,000,000 Support Agreement, dated as of
November 18, 1998, between DTE Energy and DTE Capital
Corporation.  (Exhibit 4-199 to Form 10-K for year ended
December 31, 1998.)                                                                                                                                                                                                                                                             
|       
|4(0) -  |  | $400,000,000 Support Agreement, dated as of
January 19, 1999, between DTE Energy Company and DTE Capital
Corporation.  (Exhibit 4-201 to Form 10-K for year ended
December 31, 1998.)                                                                                                                                                                                                                                                      
|       
|4(p) -  |  | $40,000,000 Support Agreement, dated as of
February 24, 1999 between DTE Energy Company and DTE Capital
Corporation.  (Exhibit 4-202 to Form 10-Q for quarter ended
March 31, 1999.)                                                                                                                                                                                                                                                       

39



---



##### Table of Contents



|        |  |                                                                                                                                                                                                                                                                                     
|------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       
|4(q) -  |  | $50,000,000 Support Agreement, dated as of
June 10, 1999 between DTE Energy Company and DTE Capital
Corporation.  (Exhibit 4-203 to Form 10-Q for quarter ended
June 30, 1999.)                                                                                                     
|       
|4(r) -  |  | Indenture, dated as of June 15, 1998, between
DTE Capital Corporation and The Bank of New York, as Trustee.
(Exhibit 4-196 to Form 10-Q for quarter ended June 30,
1998.)                                                                                                           
|       
|4(s) -  |  | First Supplemental Indenture, dated as of
June 15, 1998, between DTE Capital Corporation and The Bank
of New York, as Trustee, creating the $100,000,000 Remarketed
Notes, Series A due 2038, including form of Note.  (Exhibit
4-197 to Form 10-Q for quarter ended June 30, 1998.)
|       
|4(t) -  |  | Second Supplemental Indenture, dated as of
November 1,1998, between DTE Capital Corporation and The Bank
of New York, as Trustee, creating the $300,000,000 Remarketed
Notes, 1998 Series B, including form of Note.  (Exhibit 4-200
to Form 10-K for year ended December 31, 1998.)
|       
|99(a) - |  | Belle River Participation Agreement between
Detroit Edison and Michigan Public Power Agency, dated as of
December 1, 1982 (Exhibit 28-5 to Registration No. 2-81501).                                                                                                               
|       
|99(b) - |  | Belle River Transmission Ownership and
Operating Agreement between Detroit Edison and Michigan Public
Power Agency, dated as of December 1, 1982 (Exhibit 28-6 to
Registration No. 2-81501).                                                                                        
|       
|99(c) - |  | 1988 Amended and Restated Loan Agreement,
dated as of October 4, 1988, between Renaissance Energy
Company (an unaffiliated company) (Renaissance) and Detroit
Edison (Exhibit 99-6 to Registration No. 33-50325).                                                                 
|       
|99(d) - |  | First Amendment to 1988 Amended and Restated
Loan Agreement, dated as of February 1, 1990, between Detroit
Edison and Renaissance (Exhibit 99-7 to Registration No.
33-50325).                                                                                                      
|       
|99(e)-  |  | Second Amendment to 1988 Amended and Restated Loan
Agreement, dated as of September 1, 1993, between Detroit
Edison and Renaissance (Exhibit 99-8 to Registration No.
33-50325).                                                                                                    
|       
|99(f) - |  | Third Amendment, dated as of August 28, 1997,
to 1988 Amended and Restated Loan Agreement between Detroit
Edison and                                                                                                                                                                

40



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##### Table of Contents



|        |  |                                                                                                                                                                                                                                                                                                                                                 
|------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |  | Renaissance. (Exhibit 99-22 to Form 10-Q for quarter ended September 30, 1997.)                                                                                                                                                                                                                                                                 
|       
|99(g) - |  | $200,000,000 364-Day Credit Agreement, dated as
of September 1,1993, among Detroit Edison, Renaissance and
Barclays Bank PLC, New York Branch, as Agent (Exhibit 99-12 to
Registration No. 33-50325).                                                                                                                                           
|       
|99(h) - |  | First Amendment, dated as of August 31, 1994,
to $200,000,000 364-Day Credit Agreement, dated September 1,
1993, among The Detroit Edison Company, Renaissance Energy
Company, the Banks party thereto and Barclays Bank, PLC, New
York Branch, as Agent (Exhibit 99-19 to Form 10-Q for quarter
ended September 30, 1994).                     
|       
|99(i) - |  | Third Amendment, dated as of March 8, 1996, to
$200,000,000 364-Day Credit Agreement, dated September 1,
1993, as amended, among Detroit Edison, Renaissance, the Banks
party thereto and Barclays Bank, PLC, New York Branch, as
Agent (Exhibit 99-11 to Form 10-Q for quarter ended March 31,
1996).                                          
|       
|99(j) - |  | Fourth Amendment, dated as of August 29, 1996,
to $200,000,000 364-Day Credit Agreement as of September 1,
1990, as amended, among Detroit Edison, Renaissance, the Banks
party thereto and
Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13
to Form 10-Q for quarter ended September 30, 1996).                                    
|       
|99(k)-  |  | Fifth Amendment, dated as of September 1, 1997, to
$200,000,000 Multi-Year Credit Agreement, dated as of
September 1, 1993, as amended, among Detroit Edison,
Renaissance, the Banks Party thereto and Barclays Bank PLC,
New York Branch, as Agent.  (Exhibit 99-24 to Form 10-Q for
quarter ended September 30, 1997.)                        
|       
|99(l) - |  | Seventh Amendment, dated as of August 26,
1999, to $200,000,000 364-Day Credit Agreement, dated as of
September 1, 1993, as amended among The Detroit Edison
Company, Renaissance Energy Company, the Banks parties thereto
and Barclays Bank PLC, New York branch as Agent.  (Exhibit
99-30 to Form 10-Q for quarter ended September 30, 1999.)
|       
|99(m) - |  | $200,000,000 Three-Year Credit Agreement, dated
September 1, 1993, among Detroit Edison, Renaissance and
Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13
to Registration No. 33-50325).                                                                                                                                            

41



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##### Table of Contents



|        |  |                                                                                                                                                                                                                                                                                                                                              
|------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       
|99(n) - |  | First Amendment, dated as of September 1, 1994,
to $200,000,000 Three-Year Credit Agreement, dated as of
September 1, 1993, among The Detroit Edison Company,
Renaissance Energy Company, the Banks party thereto and
Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-20
to Form 10-Q for quarter ended September 30, 1994).       
|       
|99(o) - |  | Third Amendment, dated as of March 8, 1996, to
$200,000,000 Three-Year Credit Agreement, dated September 1,
1993, as amended among Detroit Edison, Renaissance, the Banks
party thereto and Barclays Bank, PLC, New York Branch, as
Agent (Exhibit 99-12 to Form 10-Q for quarter ended March 31,
1996).                                     
|       
|99(p)-  |  | Fourth Amendment, dated as of September 1, 1996, to
$200,000,000 Multi-Year (formerly Three-Year) Credit
Agreement, dated as of September 1, 1993, as amended among
Detroit Edison, Renaissance, the Banks party thereto and
Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-14
to Form 10-Q for quarter ended September 30, 1996).
|       
|99(q)-  |  | Fifth Amendment, dated as of August 28, 1997, to
$200,000,000 364-Day Credit Agreement, dated as of September
1, 1990, as amended, among Detroit Edison, Renaissance, the
Banks Party thereto and Barclays Bank PLC, New York Branch, as
Agent.  (Exhibit 99-25 to Form 10-Q for quarter ended
September 30, 1997.)                          
|       
|99(r) - |  | Sixth Amendment, dated as of August 27, 1998,
to $200,000,000 364-Day Credit Agreement dated as of September
1, 1990, as amended, among Detroit Edison, Renaissance, the
Banks party thereto and Barclays Bank PLC, New York Branch, as
agent.  (Exhibit 99-32 to Registration No. 333-65765.)                                               
|       
|99(s) - |  | 1988 Amended and Restated Nuclear Fuel Heat
Purchase Contract, dated October 4, 1988, between Detroit
Edison and Renaissance (Exhibit 99-9 to Registration No.
33-50325).                                                                                                                                                                    
|       
|99(t) - |  | First Amendment to 1988 Amended and Restated
Nuclear Fuel Heat Purchase Contract, dated as of February 1,
1990, between Detroit Edison and Renaissance (Exhibit 99-10 to
Registration No. 33-50325).                                                                                                                                         
|       
|99(u) - |  | Eighth Amendment, dated as of August 26, 1999
to 1988 Amended and Restated Nuclear Fuel heat Purchase
Contract between                                                                                                                                                                                                                       

42



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##### Table of Contents



|         |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|-------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        
|         |  | Detroit Edison and Renaissance Energy
Company.  (Exhibit 99-31 to Form 10-Q for quarter ended
September 30, 1999.)                                                                                                                                                                                                                                                                                                                                   
|        
|99(v) -  |  | U.S. $160,000,000 Standby Note Purchase Credit
Facility, dated as of October 26, 1999, among Detroit Edison,
the Banks signatory thereto, Barclays Bank PLC, as
Administrative Agent and Barclays Capital Inc., Lehman
Brothers Inc. and Banc One Capital Markets, Inc., as
Remarketing Agents.  (Exhibit 99-29 to Form 10-Q for quarter
ended September 30, 1999.)                                                                                 
|        
|99(w) -  |  | Standby Note Purchase Credit Facility, dated as
of September 12, 1997, among The Detroit Edison Company and
the Banks Signatory thereto and The Chase Manhattan Bank, as
Administrative Agent, and Citicorp Securities, Inc., Lehman
Brokers, Inc., as Remarketing Agents and Chase Securities,
Inc. as Arranger.  (Exhibit 99-26 to Form 10-Q for quarter
ended September 30, 1997.)                                                               
|        
|99(x) -  |  | Third Amended and Restated Credit Agreement,
Dated as of January 18, 2000 among DTE Capital Corporation,
the Initial Lenders, Citibank, N.A., as Agent, and ABN AMRO
Bank N.V., Bank One N.A., Barclays Bank PLC, Bayerische
Landesbank Girozertrale, Cayman Islands Branch, Comerica Bank
and Den Daske Bank Aktieselskab, as Co-Agents.                                                                                                            
|        
|99(y) -  |  | First Amendment, dated as of April 5, 2000, to
Third Amended and Restated Credit Agreement, dated as of January
18, 2000 among DTE Capital Corporation, certain Lenders,
Citibank, N.A., as Agent, and ABN AMRO Bank N.V., Bank One,
N.A., Barclays Bank PLC, Bayerische Landesbank Girozertrale,
Cayman Islands Branch, Comerica Bank and Den Daske Bank
Aktieselskab, as Co-Agents.  (Exhibit 99-33 to Form 10-Q for
quarter ended March 31, 2000.)
|        
|(b)  (i) |  | On June 9, 2000, the Company and Detroit Edison
filed a current Report on Form 8-K discussing newly - enacted
Michigan legislation permitting electric public utilities to recover
stranded costs (as a result of the transition to competition and
requiring a rate reduction).                                                                                                                                                                     
|        
|(ii)     |  | On June 14, 2000, the Company filed a Current
Report on Form 8-K discussing the status of regulatory
approvals with respect to its pending merger with MCN Energy
Group Inc.                                                                                                                                                                                                                                                                         
|        
|(iii)    |  | On July 7, 2000,  the Company and Detroit Edison filed a Current                                                                                                                                                                                                                                                                                                                                                                                     

43



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##### Table of Contents



| |  |                                                                                                                                                                       
| |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| |  | Report on Form 8-K discussing Detroit Edisons July 5, 2000
application to the MPSC requesting a securitization financing
order in the amount of up to $1.850 billion.

44



---



##### Table of Contents



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

|                     |  |                                                                        
|-------------------- |  | -----------------------------------------------------------------------
|                     |  | DTE ENERGY COMPANY
(Registrant)                                        
|                    
|Date  August 9, 2000 |  | /s/ ELAINE M. GODFREY
Elaine M. Godfrey
Assistant Corporate Secretary  
|                    
|Date August 9, 2000  |  | /s/ DAVID E. MEADOR
David E. Meador
Senior Vice President and Treasurer

45



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##### Table of Contents



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

|                     |  |                                                                      
|-------------------- |  | ---------------------------------------------------------------------
|                     |  | THE DETROIT EDISON COMPANY
(Registrant)                              
|                    
|Date August 9, 2000  |  | /s/ ELAINE M. GODFREY
Elaine M. Godfrey
Assistant Corporate Secretary
|                    
|Date  August 9, 2000 |  | /s/ DANIEL G. BRUDZYNSKI
Daniel G. Brudzynski
Controller             

46



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##### Table of Contents



QUARTERLY REPORTS ON FORM
10-Q FOR THE QUARTER
ENDED JUNE 30, 2000

|                           |  |                 
|-------------------------- |  | ----------------
|DTE ENERGY COMPANY         |  | File No. 1-11607
|                          
|THE DETROIT EDISON COMPANY |  | File No. 1-2198 

EXHIBIT INDEX

|    |  |                         
|--- |  | ------------------------
|(i) |  | Exhibits filed herewith.

|               |  |                                                                                                                                                                                                                                     
|-------------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Exhibit
Number |  |                                                                                                                                                                                                                                     
|11-19 -        |  | DTE Energy Company Basic and Diluted Earnings Per
Share of Common Stock.                                                                                                                                                            
|              
|12-24 -        |  | DTE Energy Company Computation of Ratio of Earnings to
Fixed Charges.                                                                                                                                                               
|              
|12-25 -        |  | The Detroit Edison Company Computation of Ratio of
Earnings to Fixed Charges.                                                                                                                                                       
|              
|15-14 -        |  | Awareness Letter of Deloitte & Touche LLP regarding
their report dated August 9, 2000.                                                                                                                                              
|              
|27-35 -        |  | Financial Data Schedule for the period ended June
30, 2000 for DTE Energy Company.                                                                                                                                                  
|              
|27-36 -        |  | Financial Data Schedule for the period ended June
30, 2000 for The Detroit Edison Company.                                                                                                                                          
|              
|(ii)           |  | Exhibits incorporated herein by reference.      See Page Nos. __ through
__ for location of exhibits incorporated by reference.                                                                                                     
|              
|2(a) -         |  | Agreement and Plan of Merger, among DTE Energy, MCN Energy Group, Inc. and DTE Enterprises, Inc., dated as of
October 4, 1999 and amended as of November 12, 1999.  (Exhibit
2-1 to Form 10-K for the year ended December 31, 1999.)
|              
|3(a) -         |  | Amended and Restated Articles of Incorporation
of DTE Energy Company Energy Company dated December 13, 1995.
(Exhibit 3-5 to Form 10-Q for quarter ended September 30,
1997.)                                                       
|              
|3(b) -         |  | Certificate of Designation of Series A Junior
Participating Preferred Stock of DTE Energy Company.  (Exhibit
3-6 to Form 10-Q for quarter ended September 30, 1997.)                                                                





---



##### Table of Contents



|       |  |                                                                                                                                                                                                                                                                                                                 
|------ |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      
|3(c) - |  | Restated Articles of Incorporation of Detroit
Edison, as filed December 10,1991 with the State of Michigan,
Department of
Commerce - Corporation and Securities Bureau (Exhibit 3-13 to
Form 10-Q for quarter ended June 30, 1999.)                                                                             
|      
|3(d) - |  | Articles of Incorporation of DTE Enterprises,
Inc. (Exhibit 3.5 to   Registration No. 333-89175.)                                                                                                                                                                                                               
|      
|3(e) - |  | Rights Agreement, dated as of September 23,
1997, by and between DTE Energy Company and The Detroit Edison
Company, as Rights Agent (Exhibit 4-1 to DTE Energy Company
Current Report on Form 8-K, dated September 23, 1997.)                                                                                   
|      
|3(f) - |  | Agreement and Plan of Exchange (Exhibit 1(2) to
DTE Energy Form 8-B filed January 2, 1996, File No. 1-11607.)                                                                                                                                                                                                   
|      
|3(g) - |  | Bylaws of DTE Energy Company, as amended
through September 22, 1999.  (Exhibit 3-3 to Registration No.
333-89175.)                                                                                                                                                                                              
|      
|3(h) - |  | Bylaws of The Detroit Edison Company, as
amended through September 22, 1999.  (Exhibit 3-14 to Form
10-Q for quarter ended September 30, 1999.)                                                                                                                                                                 
|      
|3(i) - |  | Bylaws of DTE Enterprises, Inc. (Exhibit 3.6 to
Registration No.   333-89175.)                                                                                                                                                                                                                                  
|      
|4(a) - |  | Mortgage and Deed of Trust, dated as of October
1, 1924, between Detroit Edison (File No. 1-2198) and Bankers
Trust Company as Trustee (Exhibit B-1 to Registration No.
2-1630) and indentures supplemental thereto, dated as of dates
indicated below, and filed as exhibits to the filings as set
forth below:

|                  |  |                                                            
|----------------- |  | -----------------------------------------------------------
|September 1, 1947 |  | Exhibit B-20 to Registration No. 2-7136                    
|                 
|                 
|                 
|                 
|November 15, 1971 |  | Exhibit 2-B-38 to Registration No. 2-42160                 
|                 
|                 
|                 
|                 
|January 15, 1973  |  | Exhibit 2-B-39 to Registration No. 2-46595                 
|                 
|                 
|                 
|                 
|June 1, 1978      |  | Exhibit 2-B-51 to Registration No. 2-61643                 
|                 
|                 
|                 
|                 
|June 30, 1982     |  | Exhibit 4-30 to Registration No. 2 78941                   
|                 
|                 
|                 
|                 
|August 15, 1982   |  | Exhibit 4-32 to Registration No. 2-79674                   
|                 
|                 
|                 
|                 
|October 15, 1985  |  | Exhibit 4-170 to Form 10-K for year ended December 31, 1994
|                 
|                 
|                 
|                 
|November 30, 1987 |  | Exhibit 4-139 to Form 10-K for year ended December 31, 1992
|                 
|                 
|                 
|                 
|July 15, 1989     |  | Exhibit 4-171 to Form 10-K for year ended December 31, 1994





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##### Table of Contents



|                   |  |                                                                            
|------------------ |  | ---------------------------------------------------------------------------
|                  
|                  
|                  
|                  
|December 1, 1989   |  | Exhibit 4-172 to Form 10-K for year ended December 31, 1994                
|                  
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|                  
|February 15, 1990  |  | Exhibit 4-173 to Form 10-K for year ended December 31, 1994                
|                  
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|                  
|                  
|April 1, 1991      |  | Exhibit 4-15 to Form 10-K for year Ended December 31, 1996                 
|                  
|                  
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|                  
|November 1, 1991   |  | Exhibit 4-181 to Form 10-K for year ended December 31, 1996                
|                  
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|                  
|January 15, 1992   |  | Exhibit 4-182 to Form 10-K for year ended December 31, 1996                
|                  
|                  
|                  
|                  
|February 29, 1992  |  | Exhibit 4-187 to Form 10-Q for Quarter ended March 31, 1998                
|                  
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|April 15, 1992     |  | Exhibit 4-188 to Form 10-Q for quarter ended March 31, 1998                
|                  
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|July 15, 1992      |  | Exhibit 4-189 to Form 10-Q for Quarter ended March 31, 1998                
|                  
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|                  
|July 31, 1992      |  | Exhibit 4-190 to Form 10-Q for quarter ended September 30, 1992            
|                  
|                  
|                  
|                  
|January 1, 1993    |  | Exhibit 4-131 to Registration No. 33
56496                                 
|                  
|                  
|                  
|                  
|March 1, 1993      |  | Exhibit 4-191 to Form 10-Q for quarter ended March 31, 1998                
|                  
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|                  
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|March 15, 1993     |  | Exhibit 4-192 to Form 10-Q for Quarter ended March 31, 1998                
|                  
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|April 1, 1993      |  | Exhibit 4-143 to Form 10-Q for quarter ended March 31, 1993                
|                  
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|                  
|April 26, 1993     |  | Exhibit 4-144 to Form 10-Q for quarter ended March 31, 1993                
|                  
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|May 31, 1993       |  | Exhibit 4-148 to Registration No. 33
64296                                 
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|June 30, 1993      |  | Exhibit 4-149 to Form 10-Q for quarter ended June 30, 1993 (1993 Series AP)
|                  
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|June 30, 1993      |  | Exhibit 4-150 to Form 10-Q for quarter ended June 30, 1993 (1993 Series H) 
|                  
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|September 15, 1993 |  | Exhibit 4-158 to Form 10-Q for quarter ended September 30, 1993            
|                  
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|March 1, 1994      |  | Exhibit 4-163 to Registration No. 33-53207                                 
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|June 15, 1994      |  | Exhibit 4-166 to Form 10-Q for quarter ended June 30, 1994                 





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##### Table of Contents



|                 |  |                                                                
|---------------- |  | ---------------------------------------------------------------
|                
|                
|                
|                
|August 15, 1994  |  | Exhibit 4-168 to Form 10-Q for quarter ended September 30, 1994
|                
|                
|                
|                
|December 1, 1994 |  | Exhibit 4-169 to Form 10-K for year ended December 31, 1994    
|                
|                
|                
|                
|August 1, 1995   |  | Exhibit 4-174 to Form 10-Q for quarter ended September 30, 1995
|                
|                
|                
|                
|August 1, 1999   |  | Exhibit 4-204 to Form 10-Q for quarter ended September 30, 1999
|                
|                
|                
|                
|August 15, 1999  |  | Exhibit 4-205 to Form 10-Q for quarter ended September 30, 1999
|                
|                
|                
|                
|January 1, 2000  |  | Exhibit 4-205 to Form 10-K for year ended December 31, 1999    
|                
|                
|                
|                
|April 15, 2000   |  | Exhibit 206 to Form 10-Q for quarter ended March 31, 2000.     

|       |  |                                                                                                                                                                
|------ |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------
|4(b) - |  | Collateral Trust Indenture (notes), dated as of
June 30, 1993 (Exhibit 4-152 to Registration No. 33-50325).                                                    
|      
|4(c) - |  | First Supplemental Note Indenture, dated as of
June 30, 1993 (Exhibit 4-153 to Registration No. 33-50325).                                                     
|      
|4(d) - |  | Second Supplemental Note Indenture, dated as of
September 15, 1993 (Exhibit 4-159 to Form 10-Q for quarter
ended September 30, 1993).                          
|      
|4(e) - |  | First Amendment, dated as of August 15, 1996,
to Second Supplemental Note Indenture (Exhibit 4-17 to Form
10-Q for quarter ended September 30, 1996).          
|      
|4(f) - |  | Third Supplemental Note Indenture, dated as of
August 15, 1994 (Exhibit 4-169 to Form 10-Q for quarter ended
September 30, 1994).                              
|      
|4(g) - |  | First Amendment, dated as of December 12, 1995,
to Third Supplemental Note Indenture, dated as of August 15,
1994 (Exhibit 4-12 to Registration No. 333-00023).
|      
|4(h) - |  | Sixth Supplemental Note Indenture, dated as of
May 1, 1998, between Detroit Edison and Bankers Trust Company,
as Trustee,                                      





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##### Table of Contents



|        |  |                                                                                                                                                                                                                                                                                                                                                                                                                                            
|------- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       
|        |  | creating the 7.54% Quarterly Income Debt
Securities (QUIDS), including form of QUIDS.  (Exhibit 4-193
to Form 10-Q for quarter ended June 30, 1998.)                                                                                                                                                                                                                                                                                     
|       
|4(i)-   |  | Seventh Supplemental Note Indenture, dated as
of October 15, 1998, between Detroit Edison and Bankers Trust
Company, as Trustee, creating the 7.375% QUIDS, including
form of QUIDS.  (Exhibit 4-198 to Form 10-K for year ended
December 31, 1998.)                                                                                                                                                                                       
|       
|4-(j) - |  | Eighth Supplemental Indenture, dated as of
April 15, 2000, appointing Bank One Trust Company of New York
as Trustee under the Detroit Edison Trust Indenture (Notes),
dated as of June 30, 1993. (Exhibit 4-207 to form 10-Q for the
quarter ended March 31, 2000.)                                                                                                                                                                        
|       
|4(k) -  |  | Standby Note Purchase Credit Facility, dated
as of August 17, 1994, among The Detroit Edison Company,
Barclays Bank PLC, as Bank and Administrative Agent, Bank of
America, The Bank of new York, The Fuji Bank Limited, the
Long-Term Credit Bank of Japan, LTD, Union Bank and Citicorp
Securities, Inc. and First Chicago Capital Markets, Inc. as
Remarketing Agents (Exhibit 99-18 to Form 10-Q for quarter
ended September 30, 1994.)
|       
|4(l)-   |  | $60,000,000 Support Agreement dated as of
January 21, 1998 between DTE Energy Company and DTE Capital
Corporation.  (Exhibit 4-183 to Form 10-K for year ended
December 31, 1997.)                                                                                                                                                                                                                                                         
|       
|4(m) -  |  | $100,000,000 Support Agreement, dated as of
June 16, 1998, between DTE Energy Company and DTE Capital
Corporation.  (Exhibit 4-194 to Form 10-Q for quarter ended
June 30, 1998.)                                                                                                                                                                                                                                                          
|       
|4(n)-   |  | $300,000,000 Support Agreement, dated as of
November 18, 1998, between DTE Energy and DTE Capital
Corporation.  (Exhibit 4-199 to Form 10-K for year ended
December 31, 1998.)                                                                                                                                                                                                                                                             
|       
|4(0) -  |  | $400,000,000 Support Agreement, dated as of
January 19, 1999, between DTE Energy Company and DTE Capital
Corporation.  (Exhibit 4-201 to Form 10-K for year ended
December 31, 1998.)                                                                                                                                                                                                                                                      
|       
|4(p) -  |  | $40,000,000 Support Agreement, dated as of
February 24, 1999 between DTE Energy Company and DTE Capital
Corporation.  (Exhibit 4-202 to Form 10-Q for quarter ended
March 31, 1999.)                                                                                                                                                                                                                                                       





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##### Table of Contents



|        |  |                                                                                                                                                                                                                                                                                     
|------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       
|4(q) -  |  | $50,000,000 Support Agreement, dated as of
June 10, 1999 between DTE Energy Company and DTE Capital
Corporation.  (Exhibit 4-203 to Form 10-Q for quarter ended
June 30, 1999.)                                                                                                     
|       
|4(r) -  |  | Indenture, dated as of June 15, 1998, between
DTE Capital Corporation and The Bank of New York, as Trustee.
(Exhibit 4-196 to Form 10-Q for quarter ended June 30,
1998.)                                                                                                           
|       
|4(s) -  |  | First Supplemental Indenture, dated as of
June 15, 1998, between DTE Capital Corporation and The Bank
of New York, as Trustee, creating the $100,000,000 Remarketed
Notes, Series A due 2038, including form of Note.  (Exhibit
4-197 to Form 10-Q for quarter ended June 30, 1998.)
|       
|4(t) -  |  | Second Supplemental Indenture, dated as of
November 1,1998, between DTE Capital Corporation and The Bank
of New York, as Trustee, creating the $300,000,000 Remarketed
Notes, 1998 Series B, including form of Note.  (Exhibit 4-200
to Form 10-K for year ended December 31, 1998.)
|       
|99(a) - |  | Belle River Participation Agreement between
Detroit Edison and Michigan Public Power Agency, dated as of
December 1, 1982 (Exhibit 28-5 to Registration No. 2-81501).                                                                                                               
|       
|99(b) - |  | Belle River Transmission Ownership and
Operating Agreement between Detroit Edison and Michigan Public
Power Agency, dated as of December 1, 1982 (Exhibit 28-6 to
Registration No. 2-81501).                                                                                        
|       
|99(c) - |  | 1988 Amended and Restated Loan Agreement,
dated as of October 4, 1988, between Renaissance Energy
Company (an unaffiliated company) (Renaissance) and Detroit
Edison (Exhibit 99-6 to Registration No. 33-50325).                                                                 
|       
|99(d) - |  | First Amendment to 1988 Amended and Restated
Loan Agreement, dated as of February 1, 1990, between Detroit
Edison and Renaissance (Exhibit 99-7 to Registration No.
33-50325).                                                                                                      
|       
|99(e)-  |  | Second Amendment to 1988 Amended and Restated Loan
Agreement, dated as of September 1, 1993, between Detroit
Edison and Renaissance (Exhibit 99-8 to Registration No.
33-50325).                                                                                                    
|       
|99(f) - |  | Third Amendment, dated as of August 28, 1997,
to 1988 Amended and Restated Loan Agreement between Detroit
Edison and                                                                                                                                                                





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##### Table of Contents



|        |  |                                                                                                                                                                                                                                                                                                                                                 
|------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |  | Renaissance. (Exhibit 99-22 to Form 10-Q for quarter ended September 30, 1997.)                                                                                                                                                                                                                                                                 
|       
|99(g) - |  | $200,000,000 364-Day Credit Agreement, dated as
of September 1,1993, among Detroit Edison, Renaissance and
Barclays Bank PLC, New York Branch, as Agent (Exhibit 99-12 to
Registration No. 33-50325).                                                                                                                                           
|       
|99(h) - |  | First Amendment, dated as of August 31, 1994,
to $200,000,000 364-Day Credit Agreement, dated September 1,
1993, among The Detroit Edison Company, Renaissance Energy
Company, the Banks party thereto and Barclays Bank, PLC, New
York Branch, as Agent (Exhibit 99-19 to Form 10-Q for quarter
ended September 30, 1994).                     
|       
|99(i) - |  | Third Amendment, dated as of March 8, 1996, to
$200,000,000 364-Day Credit Agreement, dated September 1,
1993, as amended, among Detroit Edison, Renaissance, the Banks
party thereto and Barclays Bank, PLC, New York Branch, as
Agent (Exhibit 99-11 to Form 10-Q for quarter ended March 31,
1996).                                          
|       
|99(j) - |  | Fourth Amendment, dated as of August 29, 1996,
to $200,000,000 364-Day Credit Agreement as of September 1,
1990, as amended, among Detroit Edison, Renaissance, the Banks
party thereto and
Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13
to Form 10-Q for quarter ended September 30, 1996).                                    
|       
|99(k)-  |  | Fifth Amendment, dated as of September 1, 1997, to
$200,000,000 Multi-Year Credit Agreement, dated as of
September 1, 1993, as amended, among Detroit Edison,
Renaissance, the Banks Party thereto and Barclays Bank PLC,
New York Branch, as Agent.  (Exhibit 99-24 to Form 10-Q for
quarter ended September 30, 1997.)                        
|       
|99(l) - |  | Seventh Amendment, dated as of August 26,
1999, to $200,000,000 364-Day Credit Agreement, dated as of
September 1, 1993, as amended among The Detroit Edison
Company, Renaissance Energy Company, the Banks parties thereto
and Barclays Bank PLC, New York branch as Agent.  (Exhibit
99-30 to Form 10-Q for quarter ended September 30, 1999.)
|       
|99(m) - |  | $200,000,000 Three-Year Credit Agreement, dated
September 1, 1993, among Detroit Edison, Renaissance and
Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13
to Registration No. 33-50325).                                                                                                                                            





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##### Table of Contents



|        |  |                                                                                                                                                                                                                                                                                                                                              
|------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       
|99(n) - |  | First Amendment, dated as of September 1, 1994,
to $200,000,000 Three-Year Credit Agreement, dated as of
September 1, 1993, among The Detroit Edison Company,
Renaissance Energy Company, the Banks party thereto and
Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-20
to Form 10-Q for quarter ended September 30, 1994).       
|       
|99(o) - |  | Third Amendment, dated as of March 8, 1996, to
$200,000,000 Three-Year Credit Agreement, dated September 1,
1993, as amended among Detroit Edison, Renaissance, the Banks
party thereto and Barclays Bank, PLC, New York Branch, as
Agent (Exhibit 99-12 to Form 10-Q for quarter ended March 31,
1996).                                     
|       
|99(p)-  |  | Fourth Amendment, dated as of September 1, 1996, to
$200,000,000 Multi-Year (formerly Three-Year) Credit
Agreement, dated as of September 1, 1993, as amended among
Detroit Edison, Renaissance, the Banks party thereto and
Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-14
to Form 10-Q for quarter ended September 30, 1996).
|       
|99(q)-  |  | Fifth Amendment, dated as of August 28, 1997, to
$200,000,000 364-Day Credit Agreement, dated as of September
1, 1990, as amended, among Detroit Edison, Renaissance, the
Banks Party thereto and Barclays Bank PLC, New York Branch, as
Agent.  (Exhibit 99-25 to Form 10-Q for quarter ended
September 30, 1997.)                          
|       
|99(r) - |  | Sixth Amendment, dated as of August 27, 1998,
to $200,000,000 364-Day Credit Agreement dated as of September
1, 1990, as amended, among Detroit Edison, Renaissance, the
Banks party thereto and Barclays Bank PLC, New York Branch, as
agent.  (Exhibit 99-32 to Registration No. 333-65765.)                                               
|       
|99(s) - |  | 1988 Amended and Restated Nuclear Fuel Heat
Purchase Contract, dated October 4, 1988, between Detroit
Edison and Renaissance (Exhibit 99-9 to Registration No.
33-50325).                                                                                                                                                                    
|       
|99(t) - |  | First Amendment to 1988 Amended and Restated
Nuclear Fuel Heat Purchase Contract, dated as of February 1,
1990, between Detroit Edison and Renaissance (Exhibit 99-10 to
Registration No. 33-50325).                                                                                                                                         
|       
|99(u) - |  | Eighth Amendment, dated as of August 26, 1999
to 1988 Amended and Restated Nuclear Fuel heat Purchase
Contract between                                                                                                                                                                                                                       





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##### Table of Contents



|        |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       
|        |  | Detroit Edison and Renaissance Energy
Company.  (Exhibit 99-31 to Form 10-Q for quarter ended
September 30, 1999.)                                                                                                                                                                                                                                                                                                                                   
|       
|99(v) - |  | U.S. $160,000,000 Standby Note Purchase Credit
Facility, dated as of October 26, 1999, among Detroit Edison,
the Banks signatory thereto, Barclays Bank PLC, as
Administrative Agent and Barclays Capital Inc., Lehman
Brothers Inc. and Banc One Capital Markets, Inc., as
Remarketing Agents.  (Exhibit 99-29 to Form 10-Q for quarter
ended September 30, 1999.)                                                                                 
|       
|99(w) - |  | Standby Note Purchase Credit Facility, dated as
of September 12, 1997, among The Detroit Edison Company and
the Banks Signatory thereto and The Chase Manhattan Bank, as
Administrative Agent, and Citicorp Securities, Inc., Lehman
Brokers, Inc., as Remarketing Agents and Chase Securities,
Inc. as Arranger.  (Exhibit 99-26 to Form 10-Q for quarter
ended September 30, 1997.)                                                               
|       
|99(x) - |  | Third Amended and Restated Credit Agreement,
Dated as of January 18, 2000 among DTE Capital Corporation,
the Initial Lenders, Citibank, N.A., as Agent, and ABN AMRO
Bank N.V., Bank One N.A., Barclays Bank PLC, Bayerische
Landesbank Girozertrale, Cayman Islands Branch, Comerica Bank
and Den Daske Bank Aktieselskab, as Co-Agents.                                                                                                            
|       
|99(y) - |  | First Amendment, dated as of April 5, 2000, to
Third Amended and Restated Credit Agreement, dated as of January
18, 2000 among DTE Capital Corporation, certain Lenders,
Citibank, N.A., as Agent, and ABN AMRO Bank N.V., Bank One,
N.A., Barclays Bank PLC, Bayerische Landesbank Girozertrale,
Cayman Islands Branch, Comerica Bank and Den Daske Bank
Aktieselskab, as Co-Agents.  (Exhibit 99-33 to Form 10-Q for
quarter ended March 31, 2000.)