Subject: "California Storage".

Body: Congratulations! Sounds like the merchant storage business has had a good couple of weeks with you guys clearing your environmental hurdles and the Tioga guys finally starting construction! I may have acted rashly in joining the evil empire--should have jumped into the storage business instead!

Subject: "North American Printing & Writing Papers Statistics - Flash Report for October 2001".

Body: The North American Printing & Writing Papers Statistics - Flash Report for October 2001 is now available on Economics Online at www.pppc.org/econ/ , in the section Flash Reports. Should you have any questions concerning the content of this report, please do not hesitate to contact Paul Leclair Analyst - Finance and Markets at (514) 861-8834 or by e-mail pleclair@pppc.org. For questions or comments concerning Economics Online, please contact:

Subject: "National Energy Group, Inc.".

Body: Stephanie and Sara - We currently have several deals on the books with National Energy Group, Inc. that we confirmed under omnibus confirms. The initial two deals that we did with them, TAGG numbers QY8453 and QY9133, required independent amounts and had the credit language attached. I have attached those annexes below. We have since executed the following trades: VH0606 VH0931 VH0969 VH0982 VT5854 VT5861 Our positions with this counterparty have gone deep in the money to them, and they have asked us to send them back the collateral. While I am not thrilled about doing this, I understand that this is a commercial issue and we probably need to do this to be responsive to the customer. If you hadn't guessed by now, this is a Lagrasta customer, so I am getting the requisite incentive from Fred to get this done. In concert with the return of their collateral, I want to send them a document that allows us to call for margin again if their positions start moving back in ENA's favor. I want to be able to call them if their position moves any less than $3 million in their favor. Right now, the positions are over $6 MM in National Energy Group's favor; I want to call them if that exposure changes to anything less than $3 MM in their favor. This would still give us some "cushion". What do we need to do to make this happen? JRW

Subject: "Basis".

Body:
Please approve my authorization request for control over daily and monthly basis products on enrononline. I will need these products available for management on my stack manager. I currently cannot access basis products on my stack manager. They were removed to facilitate timely messaging updates between my stack and the website. I will be managing monthly and daily basis products for the East Desk. I will also be retaining my management of gas daily products for the east desk. I will be managing these products as of 10/2/2000. Please call id there anre any problems