EPMI purchased 225 MW of Calender 03 NEPOOL ICAP (Installed Capability) from Calpine at $1.35/kW/Mo.   The parties agreed via a recorded phone conversation (Paul Posoli and Kevin Presto) that the LCRA lawsuit would be dropped and neither party would have any further obligations with respect to that lawsuit.

The parties attorneys have 48 hours to agree on lawsuit termination language, at which time the ICAP transaction becomes a binding obligation on both parties.

Let me know if you need anything else.