IN: Dear All, Please test the Stage Release of PortCalc version 4.2.1s1 and let us know of the results. The executable is /stage/egs-home/ermt/bin/pwrcalc_slr New Features: Version 4.2.1s1 Changes Affecting All: Asian strip Fixed the Curve shift numbers in the adhoc table. Index Option Break up one single adhoc record into two records for physical and financial. Basis Option Fixed the issue on the break down of Peak and Off Peak curve shift for the second delivery point. Performance Improvement Disable unnecessary sensitivity calculation to improve performance typical for hourly options. Cross Portfolio flag form deal entry is now used. Before this change, PortCalc used to determine which deal is cross portfolio using internal logic. Curve and Position Manager PortCalc will now populate the peak_hours_num, off_peak_hours_num, sun_peak_hours_num and sat_peak_hours_num columns in the adhoc table to provde volumetric information for the Curve and Position Manager. Changes Affecting Australia: Asian strip Always use curve price for effective date to avoid next-day financial true up for that day, so that current previous day value can tie up yesterday's value. SRA New Deal type. Changes Affecting VATR: Populate the INSTR_TYPE_CD as TRANSMISSION in the pwr_vatr_port_posn table for Transmission deals. Please do not hesitate to ask if there is any questions. Thanks, Norman. x36976.

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OUT: PortCalc Stage Release 10/29/2001 Version 4.2.1s1

IN: Dear Chris: At Gerald Nemec's request, please find a confidentiality agreement he has approved between Enron Compression Services Company and Kinder Morgan CO2 Company, L.P. Please advise when you're ready for the execution originals, and we'll print them out for you. Best wishes,

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OUT: CA - Kinder Morgan CO2 Company, L.P.

IN: The following 12 applications will go for approval at the next executive committee meeting on Thursday, November 1. Please let me know if you know Kommunalbanken AS or KommunKredit. Thank you. Mary Primary Regional 1. Hamburger Sparkasse - German bank Associate Broker 2. Tradition (North America), Inc. - broker Associate 3. LIFFE - exchange 4. Arendt & Medernach - Luxembourg law firm 5. Wistrand Advokatbyra - Swedish law firm Associate Emerging 6. Deacons - Hong Kong law firm Subscriber 7. Kommunalbanken AS - local gov't (Norway) funding agency 8. KommunKredit - provides loans to the Danish local authorities and Danish semi-municipal institutions 9. CDC IXIS Asset Management - (its parent CDC IXIS Capital Markets is a Primary member) 10. DKR Capital Inc. - Investment management firm. (Formerly known as AIG International Asset Management Inc. DKR is no longer an affiliate of AIG.) 11. Bank of England - Central bank 12. Swiss National Bank - Central bank

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OUT: Member Applications

IN: The Board decided in today's meeting to delay the effective date for adoption of the goodwill and intangible asset portion of the business combinations exposure draft to fiscal years beginning after December 15, 2001, permitting early adoption for fiscal years beginning after March 31, 2001 if financial statements for the first quarter have not yet been reported. This means that goodwill amortization will continue through year-end. Discussion is continuing on when the first impairment analysis will be required given the new adoption date and whether or not initial impairments may be reported as a change in accounting principle. Adoption of the business combinations portion of the exposure draft is still anticipated to be required for acquisitions subsequent to June 30, 2001. The main implication of this is that more excess purchase price is expected to be allocated to identifiable intangible assets rather than goodwill for acquisitions completed after this date. The pooling-of-interests method of accounting for business combinations is still anticipated to be eliminated as of June 30, 2001.

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OUT:
Goodwill Exposure Draft