This is the content of an email: I have received a bill from LeBoeuf for work done in June on the ACE insurance matter for a bit over $36,000. This included around 23 hours by PB Wright ($12,000) and 38 hours by SD Avitabile ($13,000). Does that sound right to you? I have to allocate this to the business units - should it all go to East Power Trading?

Subject: LeBoeuf bill

This is the content of an email: <<IPPupdate092001.pdf>> Good Morning, Attached, please find our latest FC note on the Power Generation sector. Summary: 1. IPPs Down 6%; Generation Oriented Utilities Down 2% On September 17, 2001, our IPP composite traded off 6.2%, outperforming the NASDAQ (-6.8%), but underperforming the S&P 500 (-4.9%). Reflecting their more defensive characteristics, our universe of generation oriented utilities traded off only 1.9%, outperforming all the major market indices. 2. CSFB Hosting Conference Call on Thursday at 11 AM EDT This Thursday (9/20/01) at 11 AM EDT we will be hosting a conference call featuring Judah Rose-a power generation expert with ICF Consulting. The dial-in number is 877/715-5321. Among other topics to be discussed, the relationship between economic conditions and power demand growth will be explored in greater detail. In the near-term, we believe the key analytical challenge for all equity investors will be to determine how the prospect of slower economic growth will impact the outlook for corporate earnings across sectors. 3. MIR Outperforms Following 2 Key Announcements MIR issued revised 2001 EPS guidance of $1.95 versus its prior forecast of $1.90. Management noted that this revision reflects its continued success in using its trading and marketing operation to optimize the value of its asset base. Concurrently, management announced that its board has approved the repurchase of up to 10 million shares over the next 30 days. We have revised our EPS estimate accordingly in a separate First Call note issued today. 4. ORN Down on NYC Power Market Concerns; Con Ed Filing Indicates Intact Fundamentals Orion Power traded off 14.6% owing to concerns surrounding the potential impact of the WTC tragedy on the New York City power market. In particular investors are questioning the magnitude of lost power demand and the potential impact on the supply/demand balance in the region. In an 8K filing issued yesterday, Con Ed notes that lost demand approximates 140 MW-30% below the low end of the initial range of estimates. In addition, a portion of this demand will likely be relocated to other parts of the city. Overall, Con Ed's filing gives us greater comfort in our conclusion that the fundamentals of the New York City power market remain intact. Regards,

Subject: CSFB Power Generation Update; Hosting Conference Call at 11 AMED T on Thursday (9/20/01)

This is the content of an email: Be prepared...this one's a downer, but oh so true. Email me and let me know @ what time you think you're going to try and call so I'll be sure to stay at my desk. Sue

Subject: Fwd

This is the content of an email: Nancy, I've made a list of the transactions I see in the VEPCO deal. Perhaps you can think of more. I would appreciate your suggestions for B & P lawyers to assist with these various aspects of the deal, with local counsel input as necessary. Additionally, I would like to have someone in the Houston office involved for backup. last minute meetings, etc. Thanks for your help.
Subject: VEPCO "to do" list