Subject: "Options".

Body: Hi Greg, I just wanted to mention that if we are going to bust the percentage rule on the option payment, there is no incremental damage in having the option payment credited to the purchase price of the land. As for officers of the development company, I would use Dave Duran. Ben holds a power of attorney, but isn't an officer. Hope you get email! Kay

Subject: "Alcoa".

Body: In a conference call today with Alcoa on the Services business we are pursuing, the following issues with regard to credit were mentioned: 1. Alcoa has revoked a $10MM credit line they had open with Enron. 2. Alcoa was uncomfortable taking on more Enron exposure given the recent press. In addition to the power/gas exposure, there is metals exposure. 3. Future deals will need to be closely reviewed by Alcoa's credit group. By copy of this e-mail, I am requesting that Ed Sacks contact Mike Fry of Alcoa's credit group in Atlanta. Please advise if you need his phone number. Also, we want to move ahead with getting the EEI in place as Alcoa's represents one of our strongest prospects for the new Services business. We will need to get Alcoa comfortable with our credit issues. In addition, we are talking to Alcoa on various other pieces of business at their various smelters in PJM and TVA as well as rainfall hedges for their hydro operations. Oscar Dalton

Subject: "New Power buy/sales".

Body: Dear Team, I updated the bookout deals 523459 and 523444 for the following dates, 20th, 21st, 23rd, 29th, 30th, and 31st. Please path this in Unify and let me know when its done. Thanks.

Subject: "gas & power interviewers Trading Track".

Body:
Kevin/Hunter We are short 4 interviewers for the ENA Trading Track Interviews on Thursday, November 1. John asked me to contact you to get some more names. Attached is the current list of interviewers we have thus far. Rgds, Karen.