Subject: "PEAK 2001A RFP".

Body: Mary, I see that Phil Bair from JWorthan has responded to Phil DeMoes concerning the bond term. No comments were made concerning the legal opinion for the legal counsel for the bond provider. I was going to suggest that the contract language be modified to provide that the Company had a reasonable amount of time at the end of the lst 5 yr bond term to provide a substitute bond for the remaining term and that if the Company was able to get a replacement bond in place before the expiration of such period, no default would occur. Can you tell from the letter that Phil Bair is proposing if their are any other issues that either ENRON or the Bond Provider would have concerning the terms of the Bond and the Customer's methods of getting funding thereunder. ****************************************************************************** ****************************************************************************** ****************************************************************************** ********************************************** This was forwarded to me by Phil DeMoes. Dan, Take a look at this letter prepared by our surety provider on the PEAK pre-pay. In particular, note the last paragraph. I'm concerned on the unwind if there is a default. We plan to meet tomorrow with Joe Deffner and Breese tomorrow morning. Are you available?

Subject: "Commentary".

Body: Hey, I missed your wonderful response on Monday. Tim filled me in. I was on a plane to Notre Dame on Monday when I heard the wonderful news of my termination. Oh well, life's a bitch! No bets for the LSU game, but I feel that LSU should give the Vols. a run for their money. Texas finally wised up and gave Major the start...Mack must need to win this bowl game? Oh well, have fun at work. I have to go back to sleep.

Subject: "ENA credit derivative transaction".

Body: Janine: First Union National Bank ("FUNB") entered into a credit derivative trade with ENA effective 20 April 2001 (our trader was a London trader). Although ENA has a Master ISDA Agreement with FUNB (the "ISDA"), this does not appear to be the impetus for the booking since the confirm didn't reference the ISDA. Is ENA alright confirming trades in this manner?

Subject: "Assignment Agreements".

Body:
Attached are the executables forms of assignments. All of your attorney's changes were accepted. Note that the assignment for the Wind River Contract No. 124620 is assigned for the period from Jan 1, 2001 to May 31, 2001. The other contract is assigned for Dec. 1, 2000 thru March 31, 2001. Let me know if you have any questions (713) 853-3512. Please print three executables of each assignment. Thanks.