RE: Credit Reserve - Mesa, City of and Electrical District

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Does anyone ask how the reserve is split between deals? Also, do they ask is it can be reduced because of portfolio effect? Just curious. Rick

-----Original Message-----
From: Sacks, Edward
Sent: Monday, October 01, 2001 7:26 PM
To: Hardy, Trey; White, Stacey W.; Belden, Tim; Foster, Chris H.; Choi, Paul; Motley, Matt; Postlethwaite, John; Dunton, Heather; Warner, Nicholas; Law, Samantha; Chang, Fran
Cc: Buy, Rick; Rohauer, Tanya; Bradford, William S.; Ngo, Tracy; Reasoner, Monica; Brown, Kortney
Subject: Credit Reserve - Mesa, City of and Electrical District Number Two, Pinal County

Please note the following addition to the EPMI credit reserve:

Counterparty: Mesa, City of
Deal No: 765297
Deal Date: 9/6/01
Deal Specifics: EPMI sale, 10mw/h, July/Aug only, peak
Term: 7/1/02 to 8/31/12
Delivery Point: Pinnacle Peak
Fixed Price: $53.25
Marketer: Paul Choi/Matt Motley

Counterparty: Mesa, City of
Deal No: 765250
Deal Date: 9/6/01
Deal Specifics: EPMI sale, 15 mw/h (May-Aug), 20 mw/h (Sept), peak
Term: 5/1/02 to 9/30/12
Delivery Point: Pinnacle Peak
Fixed Price: $46.75
Marketer: Paul Choi/Matt Motley

Counterparty: Mesa, City of
Deal No: 765268
Deal Date: 9/6/01
Deal Specifics: EPMI sale, 20mw/h, baseload
Term: 6/1/03 to 5/31/13
Delivery Point: Pinnacle Peak
Fixed Price: $36.12
Marketer: Paul Choi/Matt Motley

Counterparty: Electrical District Number Two, Pinal County
Deal No: 765306
Deal Date: 9/6/01
Deal Specifics: EPMI sale, 6 mw/h (June-Aug), baseload
Term: 6/1/02 to 8/31/07
Delivery Point: Pinnacle Peak
Fixed Price: $43.50
Marketer: Paul Choi/Matt Motley

Counterparty: Electrical District Number Two, Pinal County
Deal No: 765317
Deal Date: 9/6/01
Deal Specifics: EPMI sale, 5 mw/h (May-Aug), peak
Term: 5/1/02 to 8/31/12
Delivery Point: Pinnacle Peak
Fixed Price: $46.75
Marketer: Paul Choi/Matt Motley

Credit Reserve for all deals above: $930,000 (U.S. dollars)

Comments or questions, please reply.

Ed Sacks