Let's discuss tommorow.

 -----Original Message-----
From: 	Herndon, Rogers  
Sent:	Tuesday, September 18, 2001 3:23 PM
To:	Presto, Kevin M.
Subject:	Retail Positions and Hedge Management Reserves



Kevin -

Retail Commodity book (East) should now be essentially flat on a portfolio basis.  We have approximately $40 MM in Hedge Management reserve.  We will assess how much we should release in Q3 and I will discuss with you.

Rogers