QUESTION: Attached is a listing of the top 200 customers on EOL ( as provided by Dave Forster's EOL Team). We have gone in and started to cross reference the customer overlay to determine who the PHASE 1 ( top 10 or 15 ) target customer identified as the most important for each business unit/region. Can you please add your input for your region first thing on Friday A.M. Thanks and if there are any questions, please give either Frank Vickers or myself a call. BT
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ANS: EOL Customers.xls

QUESTION: Jeff, Like everyone else in the world, I was really surprised by your annoucement. I hope the personal issues that caused you to take this step fall into the category of "manageable" with more time and attention. Just wanted you to know that I am thinking about you. Best wishes, Les +-------------------------------------------------------------+
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ANS: Thinking about you

QUESTION: We have not decided "to prevent any regulated utility from completing any financial transactions" online. If we have already satisfactorily concluded the necessary due diligence with respect to a particular utility, they will be approved. It is only with respect to those utilities which have not yet been researched that we are withholding approval. The due diligence required involves asking the utility for certain information concerning their organization and regulatory situation, hiring local counsel in the relevant state and having research done into the laws and regulations in place there and into any public utility commission orders respecting the particular utility in question, and on occasion requesting an opinion letter from the utility's counsel. We usually begin that process only when a trader believes there is a likelihood of a sufficient volume of trading with the utility to justify the time and expense. FYI, the due diligence process has in the past revealed circumstances which prevented the utility from trading derivatives or required actions to authorize such trading which had not been taken. A recent count showed about 10 executed master agreements and another 30 to 40 in one stage or another of the due diligence/negotiation process. Louise Kitchen
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ANS:
Online Derivatives Trading with Regulated Utilities