This is the content of an email: Hunter... I spoke with Louise on executing MGU. She wants us all to sign the dash that I provided you yesterday and then I can sign the contract. Of course the conversation went to value and I described the arrangement as such 1) Original mark to Russell of $2 MM - I described that the value would either a) fall out of the structure or b) you and I would determine another manner and 2) trading and origination would share the go forward value in the transaction as 60/40 unless you were required to create $2MM and then you would be covered on the monthly cost annuity first and then a sharing of 60% to you 40% to origination. I emphasized the exercise of tracking this transaction against structure to determine the merits of our current analysis/internal process. Attached is the dash for you to review and then call me with 1) your changes or 2) your approval. Thanx,

Subject: MGU

This is the content of an email: David, Hello, I hope all is well with you. I was out last week on holiday and am just now getting back into the swing of things. Alan and I have spoken about your contract, and I am getting in touch with the CU lawyers to work on an appropriate form for Australia. I will be keep you apprised of the status. Have a good weekend. Michelle

Subject: Employment Contract

This is the content of an email: My worksheet has a lot of support for the pricing we billed for January. Take a look at the worksheet and give me a call. We probably will not be able to cover everything at once. We still have a few items to bill. I will let you know what those items are and when we expect to bill them.

Subject: Jan Billing

This is the content of an email: TXU LSP observes a holiday on Friday, Mar 29. Nom's for April 'first-of-the-month' business are due Wednesday, Mar 27, at 2 P.M. Nom's for Gas Day Friday, Mar 29 through Gas Day Monday, Apr 1 are due Thursday Mar 28, at 11:30 A.M. fyi - Monthly nomination deadlines are posted on our website at www.txulsp.com. Please call your representative if there are any questions.
Subject: TXU LSP Friday Holiday - Revised