Project Stanley - Comments Made in Alberta By Enron Canada Corp

Privileged and Confidential

As requested, attached are copies of selected correspondence prepared by
Enron Canada to either the Alberta Government or the Power Pool of Alberta
addressing various Alberta electricity restructuring issues that may directly
or indirectly relate to Project Stanley. Also attached are the speaking
notes that I relied on during two panel discussions that I participated in at
conferences on Alberta electricity restructuring earlier this year. These
speaking notes reflect the messages that Enron Canada has communicated in
many different forums in Alberta on the PPAs and other electricity
restructuring issues.

I have organized the documents into groups as some of the documents may not
be relevant to the work being undertaken by both GPC and Blake Cassels and
therefore may only be of interest to just one of them.

1) Speaking Notes Reflecting Comments Made by Rob Hemstock on Alberta
Electricity Restructuring in March and April 2000

2) Concerns Regarding Design of Power Purchase Arrangements

3) Concerns Regarding Changes to Power Pool of Alberta Restatement Rules

4) Concerns Regarding Formal Implementation of Power Pool Price Cap

5) Concerns Regarding Power Pool of Alberta Disclosure of Identity of Bidders
into Power Pool and Their Prices

Regards,

Rob