RE: Status of invoices

Chris -

I did discuss Enron's payment issues with PJM with our team.

To make sure that we are on the same page.

1. No additional collateral is required at this time.
2. EPMI owes on 12/20/01 = $1,704,182.63
EESI owes on 12/20/01 = $134,456.58
3. The Annual Fee is also due on 12/20/01 = $5,000 (one fee for all affiliated companies).

I will call you tomorrow.

Jim

-----Original Message-----
From: heinc@pjm.com@ENRON
Sent: Tuesday, December 18, 2001 2:53 PM
To: Steffes, James D.
Subject: Status of invoices

Jim-

I was hoping that you could give me a status update on the outstanding invoices
from PJM to the two Enron subs. It was my understanding that you were going to
be discussing them with the "5 day" committee today.

Given the ramifications of a default, some of which we spoke of this morning, I
would like to stay as up-to-date as possible with Enron's plans and intentions.

Thank you very much,

Chris Hein