QUESTION: Guys, attached you will find a list of key transactions identified in the Hot List for each business unit. The performance of your group is key to making our targets for Q4 and to meet budgeted origination performance for the year. Independent of specific budgets for the groups, the origination organization needs to generate $250M for Q4. Ultimately, a strong performance in Q4 by the origination organization will help build momentum into the year-end PRC. I will be setting up time with each of you to go through your numbers and specifics on the deals. Regards
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ANS: Q4 Plan

QUESTION: Just when you thought it was safe . . . I have received a question from NEPCO about Project 50. Apparently, they have temporary employees who work on projects and then leave the company. These are hourly employees who do not work regularly. Originally, these employees were thought to be included in the scope of Project 50 by corp. Mike Indivero called me and said that these people should not receive the 50 options because they are not "regular, full-time or regular part-time employees" as described in the memo from the Office of the Chairman. What are your thoughts on that? Should they be included or not? My reading of the email to all employees is that it does not include temporary employees. Do you know how other temporary employees were treated? Let me know what you think. Thanks, as always.
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ANS: Project 50

QUESTION: Here's the file showing which brokers owe us cash as of close of business 1/24/02. Look at the "0124" tab and under the "Wire Day Cash In/Out" column. The $95.6MM represents the amount each of these brokers owes to us (We owe HSBC $2,132). Also, I sent figures to Steve Van Hooser and Mark Taylor on 12/5/01 for the exchange amounts that were due as of 11/30 and 12/4 for $58.4MM and $87.3MM respectively. Currently all of our exchange positions are closed. Thanks,
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ANS:
Exchange Cash