BAMMEL AD VALORUM TAX

As we draw near to the HPL transfer to AEP on June 1, I wanted to remind everyone about the Bammel Ad Valorum Tax. As we discussed earlier this year the Tax needs to be split between Enron and AEP based on the number of months ownership during the year. Since the actual liability is not likely to be known until August or September
I assume both parties will have to reach agreement as to how to handle this matter.