TVA MOPA - Notification of Triggering Event

At 10:45 am today, Jan 6th, we sent a notice to TVA advising them that a
Triggering Event under the MOPA had occurred. As a result of the Triggering
Event, EPMI has the right to suspend deliveries and/or to terminate the
MOPA. At this point, we have not elected to suspend deliveries or to
terminate the MOPA. Accordingly, our performance under the MOPA at this
point will not be impacted and we will continue to perform under the terms of
the MOPA.

The letter also sets forth a proposal to TVA pursuant to which EPMI would be
willing to continue performing under the MOPA. This proposal is conditioned
on TVA allowing EPMI to seek a judicial determination of its rights and TVA
paying market-based rates for the energy delivered by EPMI to TVA under the
MOPA pending the judicial proceedings.

If you have any questions, please call me at 36349.