Q: <<IPW111201a.pdf>> Good Morning, Attached, please find the latest issue of our Independent Power Weekly. Summary: 1. IPPs Rise 3.8% Last week our IPP composite rose 3.8%, outperforming the S&P 500 (+3.0%), but underperforming the NASDAQ (+4.7%). Mirant, which was up 12.9%, was the strongest generator in the group. International Power was the weakest performer, declining 2.4%. 2. Generation Oriented Utilities Rise 5.5% Our universe of generation oriented utilities rose 5.5%, outperforming all major indices including the UTY (4.0%). Constellation Energy, which was up 8.6%, was the strongest performer in the group. Cleco Corp was the weakest performer, improving 3.4%. 3. DYN/ENE Deal Removes Overhang We attribute last week's strong performance to indications of an imminent resolution to Enron's financial difficulties in the form of an investment from Dynegy. Late on Friday, these reports proved true with Dynegy agreeing to acquire Enron and provide immediate liquidity support. Over the last few weeks, the group came under pressure owing to concerns about Enron's deteriorating credit quality. In particular, IPP investors were concerned about the level of receivables exposure of various companies to Enron. Further, some industry observers suggested that a damaging reduction in trading liquidity could result if Enron were forced to withdraw from the natural gas and power markets. 4. New Feature: Regional Spark Spread Analysis Inside we include a regional spark spread analysis looking back 2 years. Going forward, this analysis will be a regular feature in the Weekly. 5. Valuations Remain Attractive; Focus On the Major IPPs: Highlighting CPN, MIR and NRG Given diminishing Enron concerns, we would expect investors to refocus on attractive valuations across the sector. The pure play power producers are trading at a 12% average discount to their private market asset values. We continue to highlight Calpine, Mirant and NRG Energy. 6. MIR Hosting Analyst Seminar On Tuesday (11/13), Mirant will host its second major analyst meeting in Atlanta, Georgia. We expect management to discuss the following: 1. Business plan update; 2. 2002 earnings visibility; 3. Financing plans; and 4. Reaction to DYN/ENE deal. 7. CSFB Philippines Energy Forum; Relevant to MIR On 11/15 at 3.30 pm CSFB will host a Philippines Energy Forum at the Waldorf Hotel in NYC. The meeting will feature 3 speakers: 1. Her Excellency Gloria Macapagal Arroyo, The President of the Philippines; 2. the Honorable Vincent S. Perez, Jr., Secretary of the Department of Energy of the Philippines; and, 3. Rick Kuester, CEO of Mirant Asia Pacific. The forum will focus on upcoming developments and opportunities in the power and oil/gas industry in the Philippines. Regards,
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A: CSFB IPP Weekly: DYN/ENE Deal Mitigates Overhang; MIR MeetingPre view; New Regional Spark Spread Analysis

Q: The EES/EWS Process Meeting will now be held EVERY THURSDAY at 3:00. We have also changed the location since we were bumped the last two meeting dates. The NEW LOCATION is EB2868.
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A: EES/EWS Process Meeting

Q: Steve, Two internal presentations that use a few slides from Blake's presentation. He developed it under a contract with Enron, but we don't want to use it verbatim. Vince
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A: Presentations

Q: We have received an executed Amendment Agreement dated as of September 19, 2001 between The Chase Manhattan Bank and Enron North America Corp. The amendment (i) amends the definition of "Specified Swap" to include foreign exchange spot or foreign exchange forward transactions or currency option transactions; (ii) to specify that The Chase Manhattan Bank is a Multibranch Party and may act through any Office specified in a confirmation; and (ii) to add a "Scope of the Agreement" provision which states that if the parties enter into a "Specified Swap" (as defined in the master agreement) such "Specified Swap" shall be subject to, governed by and construed in accordance with the terms of the agreement unless the confirmation relating thereto specifically states to the contrary. In addition, we have received an executed Amendment Agreement dated as of November 8, 2001 between The Chase Manhattan Bank and Enron North America Corp. The amendment replaces the definitions of "Settlement Amount" and "Loss" as set forth in the master agreement. Copies will be distributed.
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A:
The Chase Manhattan Bank