Calpine-any thoughts?

Any thoughts on them- quality of management, ability to execute their
aggressive growth in production capacity? Also, how much of a haircut
are they due from California exposure?
Michael Matthews
Salomon Smith Barney
First Vice President- Investments
Portfolio Manager
1661 International Drive
Suite 200
Memphis, TN 38120
(901)818-4224 (800)227-4146

--------------------------------------------------------------
Reminder: E-mail sent through the Internet is not secure.
Do not use e-mail to send us confidential information
such as credit card numbers, changes of address, PIN
numbers, passwords, or other important information.
Do not e-mail orders to buy or sell securities, transfer
funds, or send time sensitive instructions. We will not
accept such orders or instructions. This e-mail is not
an official trade confirmation for transactions executed
for your account. Your e-mail message is not private in
that it is subject to review by the Firm, its officers,
agents and employees.
--------------------------------------------------------------