Williams Cal 04 Reserve for EOL

Please note the following additions to the domestic credit reserve for September 2001:

CP: Williams Energy Marketing & Trading, Inc.
Deal No: 766023.1
EOL No: 1827603
Deal Date: 9/7/2001
Deal Specifics: EPMI to sell 50MW Off-Peak Power into CINERGY for Calendar Year 2004.
Term: 1/1/2004 thru 12/31/2004
Volume: 50 MWs Off-Peak
Price: $20.75
Delivery Point: CINERGY
Trader/Mid-Marketer: Fletch Sturm
Credit Reserve Amount: $23,000 (twenty-three thousand US dollars)

CP: Williams Energy Marketing & Trading, Inc.
Deal No: 766019.1
EOL No: 1827597
Deal Date: 9/7/2001
Deal Specifics: EPMI to sell 50MW Off-Peak Power into CINERGY for Calendar Year 2004.
Term: 1/1/2004 thru 12/31/2004
Volume: 50 MWs Off-Peak
Price: $21.00
Delivery Point: CINERGY
Trader/Mid-Marketer: Fletch Sturm
Credit Reserve Amount: $23,000 (twenty-three thousand US dollars)

RAC: transaction confirmed under Executed Master dated 2/1/1997.

Please call w/any questions.

Regards,
Kortney
x30616