Business Review

After returning home and reviewing the material handed out at the PGE
business review, there are two areas that I think I need to understand
better. The first is PGE's energy positions going forward and the financial
exposures to changing prices. The second is the rate case. I would be happy
to return to Portland to get a more in depth review with a much smaller cast
of players. I am open to suggestions from you.

Given the status of the divestiture process, Jeff wants to make sure he (and
subsequently I) have a good handle on these two important issues.

Thanks!