Friends and co-workers:

 I have accepted a job trading next-day power in the Entergy region effective 
January 2nd.      I will be reporting directly  to Rogers Herndon and,  
ultimately,   Kevin Presto.        This move gives me the chance to be closer 
to family and an opportunity to further develop my trading skills.      This 
would not have been possible without  the tremendous opportunities that were 
available to me during my three year stay in Portland.    

I would like to thank the entire floor for their help in making the Real Time 
& also the Services Desk a success this year.       The decision to leave was 
extremely hard,   given this level of support.     

 I am confident that next year will be a great one for each of you and I wish 
you luck in your careers at the Big E!       

Thanks,     

JMF