Subject: "Enron Re/European Finance Re Swap".

Body: Steve: Here is the most recent draft of the swap agreement. The marked copy (the second attachment) shows the changes with the exception of the payee tax rep which has been deleted in the clean version. Mark

Subject: "CDWR Credit Proposal".

Body: FYI. Calger is in active talks with Freeman and DWR lawyers about the offer letter we submitted on Tuesday. Freeman's very anxious to do a deal for 200 MWs from the West Desk and then start talking about a deal for power from Parquet's Pastoria plant. Credit is of course the issue and Calger's told them that unless the credit issue is bulletproof it's not going to work. See Chris' comments below. It looks like progress is being made, but the details will make it or break it. Any thoughts? Might make sense to discuss on the call. Please forward along to others. Thanks. Best,

Subject: "Tenaska IV".

Body: Charlie, Joe Parks told me that you would be handling the Clebure deal for the estate team. Attached are the forms you will need and some other basic information about the deal. Let me know when you would like to go over it all. Mike

Subject: "Development offsite".

Body:
Ben Jacoby is having an offsite Friday at the Hyatt for the East Development group to discuss 2001. He has asked me (and I think Roger) to sit in. I'm planning on attending. I'm sure either or both of you are welcome, although it won't be a problem if you don't attend. Kay