Wheeling-Pittsburgh Steel Corporation

FYI
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/22/2000
08:31 AM ---------------------------

From: William S Bradford 11/21/2000 08:09 PM

To: David W Delainey/HOU/ECT@ECT
cc: Jeffrey McMahon/HOU/ECT@ECT, Rick Buy/HOU/ECT@ECT
Subject: Wheeling-Pittsburgh Steel Corporation

Dave,

I am sending this in response to your query regarding the slow payment from
Wheeling Pittsburgh. Wheeling Pittsburgh has allegedly filed bankruptcy some
time last week. Legal is trying to obtain the bankruptcy filing we are
beginning to solidfy our potential claim. Our current exposure is
approximately $1.55mm ($1.07mm in receivable and $375k MTM). We are working
with the steel team (the deal was orginated by Tammy Mulrooney) and legal to
determine our rights under our contract. We will keep you posted with any
updates.

Let me know if you have any questions.
Bill