Subject: "Coral Energy Holding L.P.".

Body: Carol: I missed this deal the other day which was originally assigned to Marie. In our last legal/credit meeting, Brant was going to call Christina Tice, the CP credit manager. Maybe this is a good one for Tana to stay on top of Brant. Your name is on this one. Also, nothing happened with credit on Friday. Although Richard inquired about Palladium. I let him know that we drew on the LC's last week (according to Tanya). Sara

Subject: "Cargil Guaranty".

Body: Here's the original blackline. Leave me a voice mail with the names and I'll revise my latest blackline today so that we can satisfy Cargil. SS

Subject: "Carolina Power & Light EEI".

Body: Ed: We are really close on finalizing the EEI. The following are open credit points with them: 1. They want their cross default to be $100 million too instead of $50. 2. They want to exclude from the affiliate definition Florida Power & Light and its subs. Their lawyer is sending me a list. 3. They want to raise both collateral thresholds from $20 to $50 million. 4. In the assignment language in section 10.5, they want to specify a creditworthiness test in clauses (ii) and (iii), such that if the assignee or its guarantor is rated BBB- or Baa3, the assignment is permitted. Clauses (ii) and (iii) relate to assignments to affiliates and assignments that occur as a result of mergers or asset transfers. Right now the test is a generic creditworthiness test. I look forward to hearing from you.

Subject: "PGE Position Report".

Body:
I would appriciate if you would send to me each week the PGE Position Report. Also, at your convenience I would like to spend some time via telephone to run through the report to make sure I understand just what is being reported. I'll have my assistant call to set-up the phone call early next week. Also, to whom in Risk Management do you send the position report? Thanks.