L-Pac and Smurfit

Group,
When we make deals for Montana industrial counterparties in RT, we make the
transmission and the sales under the ST-Whourly book. I will then make
annuities from our book to L-PAC (or smurfit) and LT-NW.

The volume of deals we do under other desks is growing, and with the addition
of the services book will continue to grow. However, we cannot continue to
make mistakes when entering desk to desk deals, or doing service deals. If
you have questions or are unsure how to enter a deal please ask.

Bill