Dear Sally,

Since we may not be able to have our bi-weekly meeting, I thought I'd let you
know what's going on:

DPR
I'm working with London to determine how to report the MG DPR to us. Nothing
has been decided yet as we are waiting on the risk management policies & risk
limits from our guys in London.
As you know, plenty of V@R questions have been coming our way, and are
somewhat difficult for Mike's team to answer. I talked with Eugenio and he
is in the process of putting together some V@R analytics/graphs Mike's guys
can easily create to answer simpler V@R questions.
Burton, a book analyst in Brent's group is coming back to Mike's DPR group to
support Gary Stadler and work on the benchmark reports and curve
validations. Jenifer Bagwell has taken Burton's place in Brent's group.

A while back, Eugenio created a database to capture information and allows
book & commodity analysis. He has been showing this to Business Unit
controllers & the RAC group, but has not distributed it yet, due to security
issues. Currently, the database does not restrict different users to
different commodities (power people can see gas and vice versa). It will
slow down the database considerably if these restrictions are put in, but it
may be necessary. I think the business controllers would not share the
information with commercial, but I'm not sure about the analysts in the RAC
group. I'd like to get your opinion on this.

Doorstep
I've updated the presentation to include places and planned visits for
offices previously not visited and second offices visits for the next year
Donna, Ted, Richard L. and I have a meeting scheduled to go over the follow
up of the first visits - I'll update you after the meeting.

Hope you had a good vacation!

Regards