Accomplishments for the First Half of 1999

1. Legal Risk Report -- developed the concept of the legal risk report for
ECT. I began reporting and managing the ECT legal risks on that basis. This
resulted in a better understanding of legal risks such as the power contract
risks. There will be many collateral benefits for the company as a result of
this new technology for legal risks such as better decision making on
transactions and faster focus on solving problems.

2. Developed and implemented new Chinese Wall Policy -- in the face of
almost daily breaches of the then existing policy, a new policy was developed
that is fashioned to fit the unique business of ECT. The traders and
originators helped design the policy and have "bought in". Training was
completed in June. This new policy should reduce our SEC risk, while at the
same time, allow us to take advantage of certain information.

3. Lead power industry to develop a standardized form -- pushed ISDA
and EEI to work with the major IOU's to jointly develop a standard master
trading form for power. The form is now 80% complete and is modeled after
the ECT form. The result will be a significant saving of legal time and
effort and more transactions will be completed in the industry with less risk
of an unintended default.

4. Cutting edge legal work -- identified and solved many cutting edge
legal questions in connection with the start-up of many ECT businesses.
These businesses include (i) the acquisition of competitive information, (ii)
weather, coal, emissions, band- width and electronic trading, and (iii)
acquisition of businesses through contract such as contemplated in the UI and
the Peoples deals.

5. Carolina Power & Light -- after filing suit against CP&L, acheiving a
settlement at 90% of the value, despite difficult legal issues.

6. Deals are Us -- lots and lots of deals done. Legal built a closer
relationship with several difficult groups with improved results for the
company.