This is the content of an email: One change to the drafts I just forwarded. The second sentence of the Purchase Price section in the Term Sheet will be deleted. The purchase price will be all cash and no note will be executed.

Subject: Project 20/20

This is the content of an email: Mark and Greg, I hope that you are receptive to unsolicited advice. 1) Give a single officer the authority to say "no" to deals before they get to your Office of the Chairman. Rick Buy may not want the job, but it should be someone in a similar position with real authority. Perhaps, each business unit should have such a person. Key to making this work is to find a person who will try all ideas to make a deal "good" before killing it. 2) EIM may need a new CEO. If Bowen is not going to take the job, then you should strongly consider Shankman for the post. I think that he has done a fine job at EGM in the last 12 months, and this could be his chance to step up and run his own shop. 3) Stop paying a dividend!!!!!!! Given that we are not appealing to an institutional investor base that requires a dividend, we should keep the hundreds of millions of dollars. 4) We probably have too much metal in inventory in London. We should consider getting out of a business that requires that much physical inventory. Thank you for taking the time to read my suggestions. James C. Lewis VP Finance and Structuring EGM

Subject: General Suggestions

This is the content of an email: Any more documentation on this deal? Midwestern Gas Transmission 5/18/00 - Midwestern filed notice of a negotiated rate deal with Dynegy. It provides for a monthly reservation charge of $.025/dth and a tiered indexed commodity rate based on spreads. If the index spread is less than or equal to $.02, then the daily commodity rate shall be $.01. If the index spread is greater than $.02 but less than $.10, then the rate shall be 50% of the spread. If the index spread is greater than $.10, then the rate shall be $.05 plus 75% of the spread exceeding $.10. The deal is effective 5/1/00 through 10/31/00.

Subject: Midwestern

This is the content of an email: Tanya: When the Columbia purchase was done in January, did the 1/30/98 ISDA Master between ENA and Columbia Energy Services Corporation stay with Columbia or come over to us? The reason that I am asking is that they have sent ENA a letter notifying us of Columbia's transfer of its rights under such Master to The New Power Company, so it seems as if they believe that that Master was not part of our acquisition. Who in credit needs to be aware of this if in fact this Master will be assigned to New Power? Carol
Subject: Columbia assignment