Kim -

A couple of thoughts regarding Charles Hinckley's email and your pending trip
to San Diego:

1. I have scoured all of United Technologies' filings and even their
website. I found exactly ZERO references to CalPeak Power, LLC. I'm not
saying that CalPeak ISN'T a wholly-owned subsidiary of United Technologies,
but I find it strange that I can't find anything on CalPeak in United's
filings/online info.

2. If CalPeak is indeed a subsidiary and WILL guarantee CalPeak's
obligations, then we are in great shape. United Technologies is A+ rated,
with lots of liquidity available in the form of unused lines of credit.

3. If CalPeak will not benefit from a United Technologies guaranty, then we
definitely need to see their financials/management notes.

Will they send you the financials/notes before you leave for San Diego?


JRW

-----Original Message-----
From: Ward, Kim
Sent: Monday, April 02, 2001 2:14 PM
To: Williams, Jason R.
Cc: Tycholiz, Barry
Subject: Re: CalPeak Power RFP - Shortlist

J. -

What's your take on this? They want to meet with me on friday in San Diego
to discuss a potential deal as we were short listed on the RFP to supply gas
to the Calpeak power plants. If we can't get credit established and
contracts in their hands, I don't know if we want to waste our time - or
money. Let me know what you think ASAP.

Thanks,

Kim


---------------------- Forwarded by Kim Ward/HOU/ECT on 04/02/2001 03:09 PM
---------------------------


"Charles Hinckley" <cch@cchinckley.com< on 04/02/2001 12:07:54 PM
To: <Kim.Ward@enron.com<, <adonnell@prmllp.com<
cc: "Lyons, Mark" <mhlyons@earthlink.net<
Subject: Re: CalPeak Power RFP - Shortlist


CalPeak Power, LLC is a project company and is now a wholly owned subisdiary
of Untited Technologies Corporation (NYSE: UTC). UTC information is
available at www.utc.com, and from the commercial rating services.

It is not invisioned that CalPeak will benifit from an absolute gurantee
from UTC; however, some credit suport mechanism will be built into the
project and into the fuel supply agreements.

Chuck


----- Original Message -----
From: <Kim.Ward@enron.com<
To: <adonnell@prmllp.com<
Cc: <cch@cchinckley.com<
Sent: Monday, April 02, 2001 2:39 PM
Subject: Re: CalPeak Power RFP - Shortlist


<
< Ann,
<
< I just spoke with Jay Williams from our credit department and he only
needs
< CalPeak's latest audited financial statements with management notes. Any
< additional information that helps us understand the company and how it is
< set up will be helpful. Sending this information overnight will probobly
< be our best bet. My address is as follows:
<
< 1400 Smith Street, EB3206a
< Houston, TX 77002
<
< Also, Jay's phone number is 713-345-3923. Let me know if you have any
< questions.
<
< Thanks,
<
< Kim
<
<
<
<
<