Subject: "Williams' COGA Presentation".

Body: Here is the presentation made by Williams Gas Pipeline at COGA. Nothing earth shattering in it, but it has a few good slides (proposed generation along Kern, Northwest displacement fix, etc. ).

Subject: "EES".

Body: One of the guys here recieved a call from a guy at EES looking for contacts at gas utilities in the Northwest. They are hoping to sell them some sort of deal where they provide the utility structured products and the utility pushes them through to the endusers... isn't that my Cascade deal? Let's discuss Monday, it sounds like something we need to nip in the bud.

Subject: "Argentina: public utilities and other regulated entities".

Body: Hope you are well! I had a wonderful vacation in L.A. I never made it to either the Norton Simon or the Getty; I'll just have to plan another trip to the west coast. In connection with your recent review of our standard ISDA Schedule, Credit Support Annex and legal opinion (the "Documents"), could you please advise as the whether additional provisions are required or advisable in any of the Documents when our counterparty is an Argentine public utility, municipality or other type of regulated entity. In the U.S., we use the ISDA Multicurrency - Cross Border boilerplate and incorporate most of the ISDA municipal language and some of our own into the Schedule for municipals and governmental entities. However, for public utilities which are general corporates (and not governmentally owned), we take a different approach and incorporate language which might trigger an "Additional Termination Event" for "regulatory type developments" (e.g., orders issued by a public utility commission) which would cause or might cause our master agreement to become void or unenforceable or similar swap agreements to become void or unenforceable. For example: "The filing of a motion, pleading, application or other similar action in any proceeding or action by Party B, a commission, regulatory agency or other entity having jurisdiction over Party B, in respect of Party B, or in respect of any other similarly situated entity organized under the laws of the state(s) in which Party B is located or regulated, to the effect that performance under this Agreement or one or more Transactions hereunder or similar agreements is unlawful or that this Agreement or one or more Transactions hereunder or similar agreements are void or voidable." By fax, I will send you our Municipal Schedule. Please advise as to changes in both the (i) Schedule and (ii) legal opinion for both (a) public utilities (corporates, non-governmental) and governmental entities (municipals, public agencies, governmental utilities, etc.). Please call if you have any questions. Regards. Sara

Subject: "Counterparties".

Body:
Thank you all for being so responsive. I'm still waiting for claims on: Ameren AIG CLECO Colonial ConAgra Dominion Enterprise Chase Noble Cornerstone Occidental Carolina Power and Light Southern Co. Western Gas Resources Anyone? Please let me know by noon today. Thanks again for your help.