Transport Model Changes

From: john.griffith@enron.com

To: martin.cuilla@enron.com, keith.holst@enron.com, peter.keavey@enron.com,colleen.sullivan@enron.com, victor.guggenheim@enron.com, greg.couch@enron.com

Subject: Transport Model Changes

Cc: geoff.storey@enron.com, ed.mcmichael@enron.com, scott.neal@enron.com,eric.moon@enron.com, phillip.allen@enron.com, hunter.shively@enron.com

Bcc: geoff.storey@enron.com, ed.mcmichael@enron.com, scott.neal@enron.com,eric.moon@enron.com, phillip.allen@enron.com, hunter.shively@enron.com

Date: Wed, 3 Jan 2001 02:54:00 -0800 (PST)

On 12/21 Colleen sent out an email with a file showing $ changes to each
transport leg (and possibly changes to delta, gamma, vega and rho). This
change is due to an error in the formula for blending volatilities and
correlation. Please plan to attend a meeting on 1/4/01 at 12:00 to discuss
these changes. I will have an updated version of the impact of these changes
based on tonites close. Please call at x.36247 if you cannot attend.
Thanks.

John