Value-at-Risk for NBSK/Newsprint

John,

Looks like my back-of-the-envelope was off a bit.

Bob

---------------------- Forwarded by Bob Crane/HOU/ECT on 06/19/2000 03:10 PM
---------------------------

Matthew Adams@ENRON
06/19/2000 01:47 PM
To: Bob Crane/HOU/ECT@ECT
cc: Rudi Zipter/HOU/ECT@ECT
Subject: Value-at-Risk for NBSK/Newsprint

Bob -

I ran the stand-alone value-at-risk for the proposed deals:

Combined: $28,190,257

NBSK Only: $24,078,578

NEWSPRINT-RISI Only: $12,968,235

Hope this helps.

Thanks,
Matthew
ext. 33298