Risk Officers Roundtable

Rick - this is the event that Cal Payne spoke to you about several weeks
ago. He indicated to me that you would be interested in attending.

I am David Johnson - a partner with Andersen and we are sponsoring the Risk
Officers Roundtable. This is not a training seminar or an event with an
audience. This group has been meeting for a couple of years and recently
asked Andersen to take the lead in facilitating the group. The objective
of this group is to focus on issues that each of you are facing as risk
officers or leading energy trading organizations. The ideas and issues
dicussed will remain confidential. This is a forum for people facing
similar issues to bounce ideas off of each other and to discuss topics of
mutual interest. From an anti-trust perspective, competitive approaches as
an industry or similar initiatives will not be discussed. The group will
meet about 4 times a year

Our plans for the next meeting are as follows:

Location - Las Vegas (Bellagio currently has rooms for $129/night)

Date - Monday November 12 and Tuesday November 13

Agenda - We will get with each attendee and formulate an agenda. This will
be circulated prior to the meeting.

Attendees - Confirmed - Eddie Meche, Reliant, Philip Chesson - Williams,
Glen Labhart - Dynegy, Cal Payne - UtiliCorp
Invitations extended to Rick Buy - Enron, Rich Osborne - Duke, Mark Randle
- Sempra and Bob Andersen - ElPaso.

The group will be limited to these indivuduals unless the participants
desire to add other indivuduals to the mix.

If you have any questions, please call me at 713.237.2351.

Please let me know if you will be available to attend. The date is drawing
near and we need to finalize plans.

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