IN: This is an email
Kim, Russel Diamond is going to provide to you a complete overview of deals, power and gas, and MTM positions, plus contractual status. You should get a copy of the master documents. ( this will include credit covenants). Also, can I have a summary of LADWP, how they operate, how they are paid.... Russel will have this to you by tommorow. Pls have the consolidated package for me prior to my departure at 1:30 to Las Vegas. BT

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OUT: LADWP

IN: This is an email
This evening, ECT faxed comments to counterparty's proposed ISDA to both John Joel and Douglas Marshall. We also resent the Credit Support Annex because counterparty never commented on ours and failed to include one. John Joel called me this morning to determine when the lawyers could speak. I told him to schedule a conference call because ECT was ready and was faxing comments today. I haven't heard from him. SS

What is the subject?

OUT: Xerox Corp.

IN: This is an email
Today, The American Coal Company paid Enron $113.5 million in principal and interest, which included a prepayment of the remaining $110.7 million balance on its debt with Enron ($75.7 million Senior Note, $35.0 million Subordinated Note). These two notes, with maturities of July 2004 and July 2008 respectively, were established in July 1998 to provide financing for the acquisition of the Galatia Mine by Bob Murray. Despite the termination of the credit relationship, the physical relationship remains in place through December 2006 with projected deliveries of 1,900,000 tons of Galatia coal and 1,200,000 tons of Maple Creek Coal. The value in the remaining coal, supported by puts and fixed price arrangements, is in excess of $25 million. Beyond the value in the transaction, this deal, along with the DPR transaction with Cline in 1998, provided the foundation for Enron's coal business. With this prepayment, Enron has now received over $250 million from its coal investments. The breakdown of the funding and cash flow is shown below: Approved Commitments $275 million Funded Commitments $271 million Enron Funding (Net of Calpers) $240 million Enron Cash Flows Principal $188 million Interest $ 44 million Equity Distributions $ 8 million Marketing Fees $ 7 million Margin on Physical Coal $ 3 million Total $ 250 million In addition to the cash flow received to date, the investments are projected to provide minimum future cash flows as follows: Principal and interest $ 20 million Loans secured by assets Marketing fees $ 39 million Minimum marketing fees Coal commodity margin $ 25 million Value of American Coal physical transaction Equity distributions ??? 42% interest in Dakota & Remington 20% interest in BMR Total $ 84 million + equity distributions

What is the subject?

OUT:
The American Coal Company $113 Million Debt Prepayment