Transwestern Credit Agreement

Steve and Kim,

I spoke with Drew after the staff meeting today regarding what limitations would be imposed by the new credit agreement on Transwestern's dealings with its affiliates, most notably ENA/EWS. Drew said that this and a number of other issues are still being negotiated and that it's not yet clear where we'll wind up. Obviously, we'll try and negotiate as much flexibility on the affiliate issue with the banks as possible. Drew indicated that the agreement should be finalized in the next day or so and that he would issue guidance on this and other issues as soon as it is.