RE: EPI Watch List

Kevin: It is understood and appreciated that EPI keeps all of their portfolio investments under close "watch". The purpose of the report is more to provide management (some of them outside of EPI) an update on investments experiencing issues. Additionally, the classifications "Watch", "Troubled", and "Loss" form the basis of a merchant investment portfolio report that Rick Buy provides to the Finance Committee at each Board meeting. The Watch report provides RAC an opportunity to get EPI's input for that process.

All that being said, we are certainly open to changes that help us better accomplish these objectives. I am ready to discuss at your convenience. Regards! Rick C.

-----Original Message-----
From: Garland, Kevin
Sent: Thursday, October 11, 2001 10:36 PM
To: Gray, Chris; Buy, Rick; Carson, Rick L.; Gorte, David; Lydecker Jr., Richard; Melman, Gil M.; Paige, Barbara
Subject: RE: EPI Watch List

For future reference, please note that all of our investments are "on watch" all of the time. Any concept to the contrary seems absurd.

Thanks,
KG

-----Original Message-----
From: Gray, Chris
Sent: Wed 10/10/2001 4:54 PM
To: Buy, Rick; Carson, Rick L.; Garland, Kevin; Gorte, David; Lydecker Jr., Richard; Melman, Gil M.; Paige, Barbara
Cc:
Subject: EPI Watch List

Please see the attached EPI Watch List. If you have any questions, please contact Rick Carson at 3-3905 or Lynn Bellinghausen at 5-7346.

<<EPI Final Watch Report 9-30-01.pdf<<