This is the content of an email: Lisa, I've made some preliminary suggestions on the term sheet. We will have some comments on the asset management attachment, but I don't have those together yet. In looking through our files I don't find a confidentiality agreement. Therefore, I'm attaching a draft of what we would like to have executed so that we can send you other documents. Thanks,

Subject: Co Op City

This is the content of an email: Hey Jeff: I just saw your email address on the Monmouth web site. I didn't realized you were at Mayer Brown. I don't even know if we've talked since I left New York (almost 5 years ago). I'm now in the legal department at Enron Capital & Trade Resources in Houston where my group is responsible for the legal issues in derivatives trading here. I don't get to Chicago often but if they ever send you down this way, be sure to look me up! C., F. & S., Mark

Subject: Hello!

This is the content of an email: Without Prejudice Here is the matrix with work allocated. If you run out of work or have too much, let me know. Thanks. Any other issues let me know. Please follow the procedures laid out in Kyle's memo. Please set up a file (use a legal file with sections for the model calc's, termination status notes and letters, notes on telephone conversations and script reviewed, release and other agreements, etc. for each counterparty with all of the relevant data. At the end of the day these will be merged with the legal files. Use orange labels so that we can easily identify these files around the office. We now have a directory set up under i:\CES\Estate to capture clean-up stuff. You should save your models or anything else created in a sub-directory of the company name. To get a sense of exposures and contract type for a given counterparty, please see Jason Biever. We have an exposures report prepared out of TAGG with AR/AP from accounting - I don't want this to be widely copied so if you wouldn't mind, just work through Jason to get the 4 pieces of information for your counterparty (physical contract type, FMTM, PMTM, AR, AP). The MTM is from Dec 11, somewhat in the middle of all the termination dates. You will have to ask Risk to get a TAGG run from the termination date. Kyle, We need to confirm a process for handling counterparties with many deals (eg. Duke, PanCdn). I would suggest that we run TAGG, then take all deals of MTM over $50,000 and model them separately. The rest of the small deals we would group using the TAGG run to value. You might want to set a higher or lower threshold. Please let me know. Peter, We need to issue to the teams a termination status for each of the counterparties on the priority list, or would you prefer that groups contact Chris Christopher in Greg's absence to go through the details on termination status (this could prove a roadblock over the next few days). At any rate, per our process, the teams need to sit down with legal before they start, to understand the situation.

Subject: Responsibilities breakdown for clean-up

This is the content of an email: Energy Firms' Mixed Message Is Focus of Inquiry Deregulation: Senate panel will investigate whether suppliers were being misleading when they promised lower rates for consumers while they were also predicting bigger profits for investors. By ROBERT J. LOPEZ and RICH CONNELL, Times Staff Writers In the summer of 1999, a top official with a major player in California's power market testified during a congressional committee hearing in support of speeding up deregulation. Unleashing market forces, said the Dynegy Inc. executive, would ensure "maximum customer savings" and "low-cost power." That same month, the Houston-based firm made a far different pitch to Wall Street: Deregulation and major swings in electricity prices would boost revenue and stock value. "We know how to take advantage of volatility spikes across the gas and power market," Chief Executive Officer Charles Watson declared in a publication targeting large investors. "The energy marketplace," he predicted, "will simply get more volatile." Dynegy was not alone, a review of federal filings, company documents and public records shows. In the years since California's pioneering deregulation plan was approved, other major out-of-state energy suppliers were sending similar, seemingly contradictory signals to the public and stock buyers. Now, those divergent messages--electricity prices will fall but corporate
Subject: More on CA Legislature Inquiry into Wholesale Prices