-----Original Message-----
From: 	Hodges, Georganne  
Sent:	Friday, April 27, 2001 9:42 AM
To:	Lavorato, John
Cc:	Colwell, Wes
Subject:	FW:  Detail on Argentina Leasehold Improvements

John,
The third tab in this file contains the information that you requested on Argentina leasehold improvements.  It appears that the majority of the $3Million in cost actually relates to the purchase of the floor rather than improvements to it.  It seems that in order to apply for a power marketing certificate we needed to hold assets in Argentina.  I understand that they are now looking into selling our floor and leasing back only the space that we need.

 -----Original Message-----
From: 	Pierce, Jody  
Sent:	Friday, April 27, 2001 8:15 AM
To:	Hodges, Georganne
Subject:	South America Balance Sheet

 

3rd Tab is Argentina.

By the way, Brazil's leasehold is being amortized over 5 years.

JP