FYI on Project "EWE 2"

We just received the proposed Confidentiality Agreement for the Reliant asset
disposition to be handled by Merrill Lynch.
The package will include Reliant Gas Transmission (used to be the NorAm
system), the gathering facilities upstream of
RGT, Mississippi River Transmission, Minnegasco, and the Ark-La LDC assets
(does NOT include Entex). No details
yet on transaction timing, preferred bid structure, etc. however, I believe
that bids for all, or any part of the package are OK.

Legal is now reviewing the CA. The Information Packets will be forwarded to
us as soon as it is signed.

More to follow.

JNG