IN: Scott: At Paul Radous' request I am sending you the form of LC for the prospective issuing bank to look at. I'm at ext. 33989 if you have any questions. Carol

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OUT: LC Form

IN: We have received an executed First Amendment to Master Agreement by and between Vermont Gas Systems, Inc. and Enron North America Corp., which amends a) certain credit provision for both parties and b) certain other provision of the Master Agreement due to regulatory changes. Copies will be distributed. Stephanie Panus

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OUT: Vermont Gas Systems, Inc.

IN: Volume 2, Number 1 Nov. 27, 2001 Welcome to the first issue of the second year of the IU Alumni Association e-Newsletter, which is sent monthly to IU alumni for whom we have e-mail addresses. The e-Newsletter connects you to IU with information on alumni happenings, special deals, new features, and more. You can unsubscribe or resubscribe at any time by following the directions at the bottom of the newsletter. Contents

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OUT: IUAA e-Newsletter #13 (526139)

IN: When we do the emissions testing at C/S No. 3, Luepp, we should be aware of the positives and negatives. The positives being the information which Steve and company will collect. This appears to be a very useful tool. There is also is no permit emission limits associated with the permit at this facility. There also exists the potential to pay lower emissions fees should this investigation show that the emissions from the units to be significantly lower than what was placed into the permit application. The downside to this effort is that the data we collect may in fact show that our emissions fees which we have been paying actually under estimate those submitted in our application and we would more than likely be held accountable for the difference (1996 to the present). Additionally, enforcement action could result by the Navajos. I say this to apprise everyone of the positive and negative potentials involved in completing this study. From the emission estimates which were placed into the permit application we included a defendable buffer or excess of emissions to account for variations in the temperature, humidity, engine age and poor engine mechanics should they exist. And finally, we have the unknown of not knowing what the three units actually emit. These units have never been tested. This uncertanty in itself may be the driver to know so as not to have a situation which was similar to what happened at Atoka No. 3 several months ago.

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OUT:
Testing at Station 3