IN: For December 21, 2000 activity, I reported a weighted average price of $16.00 for activity for December 22-26, 2000. The weighted average trade price via Enron Online will reflect a price of $15.76, but coupled with the volume not transacted online, this price was estimated to be a $16.00 midpoint. Specificially the following trades were transacted over the telephone: Nicor Gas Company $18.16 20,000 Via ANR @ Hampshire Altrade GDD +.05 10,000 NGPL Nicor WPS GDD 5,000 NGPL Nicor Nicor Gas Company $12.00 20,000 NGPL Nicor PG&E $14.00 9,000 NGPL Nicor Kaztex $18.16 4,000 NBPL/Nicor The reason for the interest in this time period is as follows: Nicor Gas Company observed their company holiday on December 22nd, while most companies observed the company holiday on December 26th. As a result, volumes were traded for the December 22-26 time period. Gas Daily published a price of $15.70 for the December 22-26 time period. Nicor Gas Company made a decision to buy gas on December 22nd for the December 23-26 time period. I received several phone calls from various marketing companies expressing concern that Gas Daily was going to revise the posting, based on the minimal activity that transacted on December 22nd. While, my practice is to simply take the price as reported on Enron Online, from time-to-time, the there will be significant volumes transacted over the telephone that will impact the Enron Online price. My volume is a little over-stated, but simply from a cursory glance standpoint, as opposed to intentionally reporting erroneous information.

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OUT: Chicago Midpoint pricing for December 21, 22, and 23, 2000

IN: Announcement Kevin Garland has joined the Sterling Group as a Principal. Kevin spent the last 7 years at Enron, where he most recently was Managing Director in charge of Enron's private equity business. Since its founding in 1982, Sterling has focused on making equity investments in LBO transactions and other acquisition-related financings, primarily in industrial operating businesses. Sterling has sponsored the buyouts of 26 companies and 20 add-on acquisitions for a total transaction value of $6.0 billion. Kevin joins the other Principals of Sterling: Frank Hevrdejs, William Oehmig, Hunter Nelson, and John Hawkins, who have a combined 50 years at the firm. Contact Information:

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OUT: Kevin Garland Joins The Sterling Group

IN: Hi Melba, Will you please create a new product that reads as follows: The interconnection between Alliance Pipeline Company and Vector Pipeline Company located in Will County, Illinois. I also would like a NGPL Nicor product set up that uses the Gas Daily Posting for "Chicago LDC-Large end-users" midpoint. I will need to have the Vector Alliance set up for tomorrow if possible. Thanks Melba!

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OUT: New Product

IN: George, Dave Cobrain of the NMED has verbally approved of the soil characterization work plan which you submitted to him for review and has said that we can begin work as soon as the plan is approved by the OCD. I have not heard from Bill Olson of the OCD yet. Dave was going to inform the OCD that their office has given approval of the plan and that this might expidite Bill's review process. Ill let you know when I hear from the OCD.

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OUT:
Approval of Sta. 9 Soil Characterization Plan