Raptor Valuation

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/09/2001
02:17 PM ---------------------------

Rakesh Bharati@ENRON
04/05/2001 09:45 AM
To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT
cc:
Subject: Raptor Valuation

Vince and Stinson,

Here is the copy of the spreadsheet for your review. This will form the
basis for the discussion with AA today.

The arguments are provided in the sheet named "Simulation." Case1, Case2,
Case3 and Total have the simulation templates.

Rakesh