Spreadsheet: louise_kitchen__23018__$List 110101
Sheet: Sheet1

Margin Valuation/Exchange Disputes
as of COB 10/31/01
Counterparty | Entity | No. Of Deals | ENE | C/P | Dispute | Difference | Status
BP Corporation | ENA | 1630 | 36863522 | 30569112 | Y |  | -Dispute exists on Options Values, currently under review
Deutsche Bank | ENA |  |  | -42831349 | Y |  | -Disputed option value
El Paso Merchant | ENA | 3470 | -231288908 | -241307429 | Y |  | -Margin based on the avg. of the MTM
Morgan Stanley Capital Group | EPMI | 1641 |  |  | Y |  | -Exchanged files on 10/31/01, reconciliation in process
Phibro Inc. | ENA | 464 |  | -76000000 | Y |  | -Have reconciled deal flow, discussing valuation
Williams Energy Marketing & Trading Co. | ENA | 1628 | -231443713 | -345000000 | Y |  | -Williams value not accounting for power trading properly.
AEP Energy Services | ENA | 3844 | -85150000 | -98900000 | N |  | -Settlements issues for today
AIG Commodity Arbitrage Fund Limited | ENA | 28 | -156481 | -156481 | N |  | -Agreed with their marks
AIG Commodity Arbitrage Fund LP | ENA | 29 | -33373 | -33373 | N |  | -Agreed with their marks
APEA | ENA | Prepay |  | -120084575 | N |  | -Prepay contract requires monthly repricing and inclusion of surety bond value.
Aquila Energy Marketing Corp. | EPMI | 4635 | 15308370 | 15308370 | N | 0 | -Margin based on the avg. of the MTM
[NAME] | ENA | 4128 | -63487975 | -66682462 | N |  | -Margin based on the avg. of the MTM
Arizona Public Service Company | ENA | 16 | 10662519 | 10662519 | N |  | -APSC uses our marks to call for, or post collateral.  Agreed on return due of $3MM
Bank of America | ENA | 1798 | -19094114 | -19094114 | N |  | -Margin based on the avg. of the MTM
Bank of Montreal | ENA | 612 | -98401082 | -98401082 | N |  | -Margin based on the avg. of the MTM
Barclays Bank PLC | ENA | 203 | -6444310 | -7341000 | N |  | -Margin based on the avg. of the MTM
BP Capital Energy Fund LP | ENA | 31 | 55035338 | 55035338 | N |  | -Agreed with their marks
Calpine Energy Services | Various |  |  |  | N |  | Master Netting Agreement
Canadian Imperial Bank of Commerce | ENA | 355 | 27591749 | 30900000 | N |  | -Agreed to their marks (Enron benefit)
Catequil Overseas Partners | ENA | 80 | -13635285 | -13635285 | N |  | -Agreed with our marks
Catequil Partnes LP | ENA | 81 | -9011624 | -9011624 | N |  | -Agreed with our marks
Chase | ENA | 802 | 657962918 | 603008546 | N |  | -Multiple prepay contracts merged with daily trading activity.
Cinergy Marketing and Trading LLC | ENA | 1080 |  | -27324949 | N |  | -Difference today due to settlements
Citibank, N.A. | ENA | 207 | 64039249 | 64039249 | N |  | -Prepay contracts merged with daily trading activity.
CMS Marketing Services and Trading Co. | ENA | 529 | -3036154 | -3036154 | N |  | -Agreed with our marks
CMS Marketing Services and Trading Co. | EPMI | 489 | 16079613 | 16079613 | N |  | -Agreed with our marks
Conectiv Energy Supply Inc. | ENA | 889 | 42957259 | 42957259 | N |  | -Agreed with our marks
Constellation Power Source, Inc. | EPMI | 2621 | 116944491 | 116944491 | N |  | -Margin based on the avg. of the MTM
Constellation Power Source, Inc. | ENA | 1003 | 58856206 | 54383164 | N |  | -Margin based on the avg. of the MTM
Credit Suisse First Boston (10/29/01 - 4 days to post | ENA | 56 | 5208337 | 20462263 | N |  | -Margined based on undisputed amount
Duke Energy Marketing Limited Partnership | EGSC | 875 | -64430124 | -60000000 | N |  | -Margin based on the avg. of the MTM
Duke Energy Trading and Marketing | EPMI | 4426 | -244873375 | -244873375 | N |  | -Agreed to their marks (Enron benefit)
Duke Energy Trading and Marketing | ENA | 2673 | -124091421 | -117910310.42 | N |  | -Agreed to their marks (Enron benefit)
e Prime | ENA | 137 | 4872287 | 8140743 | N |  | -Agreed to their marks (Enron benefit)
El Paso Merchant | EPMI | 3985 | 170798851 | 170269289 | N |  | -Margin based on the avg. of the MTM
Engage Energy Canada LP | EGSC | 996 | 62138137 | 62138137 | N |  | -Margin based on the avg. of the MTM
EPCOR Energy Services | EGSC | 17 | 31007210 | 31007210 | N |  | -Margin based on the avg. of the MTM
FirstEnergy Solutions Corp. | ENA | 20 | 4853990 | 4853990 | N |  | -Margin based on the avg. of the MTM
General Re Financial Products | ENA | 10 | -50992182 | -50237050 | N |  | -Agreed with our marks
Goldman Sachs | ENA | 422 |  |  | N |  | -Margin based on the avg. of the MTM
Hess Energy Trading Compnay LLC | ENA | 2877 | -9504919 | -20000000 | N |  | -Difference due to Settlements, will resolve 11/2/01
[NAME] | ENA | 2789 |  | -24000000 | N |  | -Difference due to Settlements, will resolve 11/2/01
Kerr-McGee Energy Services Corp. | ENA | 131 | 3368122 | 3368122 | N |  | -Agreed with our marks
Kinder Morgan Inc. | ENA | 153 | -33553040 | -33553040 | N |  | -Agreed with our marks
Louis Dreyfus Corporation | ENA | 144 | -1630519 | -1630519 | N |  | -Margin based on the avg. of the MTM
Mahonia | ENA | 13 | -410277093 | -410277093 | N |  | -Agreed with their marks
Merrill Lynch Capital Services, Inc. | ENA | 360 | -112080115 | -106504578 | N |  | -Agreed to their marks (Enron benefit)
Merrill Lynch Capital Services, Inc. | EPMI | 27 | 7278986 | 7278986 | N |  | -Within collateral threshold
Mieco Inc. | EPMI | 184 | -20025603 | -20025603 | N |  | -Agreed with our marks
Mieco Inc. | ENA | 183 | 143052 | 143052 | N |  | -Within collateral threshold
Mirant Americas Energy Marketing LP | ENA | 1737 | -33820349 | -42836000 | N |  | -Difference due to Settlements, will resolve 11/2/01
Mirant Americas Energy Marketing LP | EPMI | 3403 | 9997604 | 9997604 | N |  | -Margin based on the avg. of the MTM
Morgan Stanley Capital Group | ENA | 1880 | -18321208 | -18321208 | N |  | -Margin based on the avg. of the MTM
Niagra Mohawk Energy Marketing | EPMI | 24 | -703481 | -703481 | N |  | -Agreed with our marks
PanCanadian Energy Services Inc. | ENA | 153 | 9800469 | 9800469 | N |  | -Agreed with our marks
PMI Trading, LTD (10/29/01 - 4 days to post) | ENA | 35 | 16250000 | 16250000 | N |  | [NAME] uses our marks to call for, or post collateral
PSEG Energy Resources & Trade LLC | ENA | 687 | 28895044 | 34273683 | N |  | -Agreed to their marks (Enron benefit)
Reliant Energy Services Inc. | ENA | 1800 | 53472089 | 53472089 | N |  | -Margin based on the avg. of the MTM
Reliant Energy Services Inc. | EPMI | 3447 | -42924724 | -42924724 | N |  | -Margin based on the avg. of the MTM
Sempra Energy Trading Corp. | ENA | 5725 | 102986941 | 102986941 | N |  | -Margin based on the avg. of the MTM
Sempra Energy Trading Corp. | EPMI | 1142 | -21238264 | -21238264 | N |  | -Margin based on the avg. of the MTM
Southern California Edison Company | ENA | 3 | 16165914 | 16165914 | N |  | -Agreed with our marks
Stoneville Aegean | EGF | 1 | -19876810 | -19876810 | N |  | -Agreed with their marks
Swiss Re Financial Products Corp. | ENA | 28 | -27161467 |  | N |  | -Margin based on the avg. of the MTM
[NAME] | ENA | 17 | 17339099 | 17339099 | N |  | -Agreed with our marks
The New Power Company | Various |  |  |  | N |  | -Master Netting Agreement
The Ospraie Portfolio | ENA | 139 | 2844470 | 2844470 | N | 0 | -Agree with our marks
The Tudor BVI | ENA | 174 | 7113307 | 7113307 | N | 0 | -Agree with our marks
[NAME] | ENA | 172 | 16205570 | 16205570 | N | 0 | -Agree with our marks
TXU Energy Trading | ENA | 705 | 96807306 | 96807306 | N | 0 | -Margin based on the avg. of the MTM
Virginia Electric and Power | EPMI | 695 | 52918318 | 52918318 | N |  | -Agreed with their marks
Vitol Capital Management LTD | ENA | 23 | 15064197 | 15064197 | N |  | -Margin based on the avg. of the MTM
Vitol S.A. | ENA | 157 | 6500000 | 6500000 | N |  | -Margin based on the avg. of the MTM
Williams Energy Marketing & Trading Co. | EPMI | 6741 | -185842068 | -185842068 | N |  | -Margin based on the avg. of the MTM