Please note the following additions to the domestic credit reserve for September 2001:  CP:  Williams Energy Marketing & Trading, Inc. Deal No: 766023.1  EOL No: 1827603  Deal Date:  9/7/2001 Deal Specifics:  EPMI to sell 50MW Off-Peak Power into CINERGY for Calendar Year 2004.
Term:  1/1/2004 thru 12/31/2004 Volume:  50 MWs Off-Peak Price:  $20.75  Delivery Point:  CINERGY Trader/Mid-Marketer:  Fletch Sturm Credit Reserve Amount:  $23,000 (twenty-three thousand US dollars)  CP:  Williams Energy Marketing & Trading, Inc. Deal No: 766019.1 EOL No: 1827597 Deal Date:  9/7/2001 Deal Specifics:  EPMI to sell 50MW Off-Peak Power into CINERGY for Calendar Year 2004.
Term:  1/1/2004 thru 12/31/2004 Volume:  50 MWs Off-Peak Price:  $21.00 Delivery Point:  CINERGY Trader/Mid-Marketer:  Fletch Sturm Credit Reserve Amount:  $23,000 (twenty-three thousand US dollars)  RAC: transaction confirmed under Executed Master dated 2/1/1997.
Please call w/any questions.
Regards,

Williams Cal 04 Reserve for EOL