Janet,

Colleen Sullivan has replaced Kate Fraser in the team to finalize the 
negotiations
with the folks at Keyspan.  My intention is to finish up the calculations 
that Colleen 
has requested over the next few days so that she can get a feel for the 
offsets that
occur in the proxy pricing given certain decisions.  We will then be able to 
finish up
with Keyspan.  Hopefully, Ed Anderson and Melissa Reges will not be taking any
more vacations for a while.

Colleen has talked to Scott about internally releasing East Origination 
Group's cut of
the accrual profits for Year 2 of the asset management deal.  There should 
not be a
be a problem doing this before the end of the quarter.

Sorry for the delay,

Ruth

---------------------- Forwarded by Ruth Concannon/HOU/ECT on 09/08/2000 
01:34 PM ---------------------------


Janet R Dietrich
09/08/2000 12:43 PM
To: Ruth Concannon/HOU/ECT@ECT
cc: Scott Neal/HOU/ECT@ECT, Edie Leschber/HOU/ECT@ECT 
Subject: Keyspan true-up


Ruth, have we gotten everything finalized with Keyspan re: the one-year deal? 
If so, let's finalize the internal dollar true-ups now. If not, please set up 
a meeting next week with Scott and I so that we can decide how we need to 
proceed for closure on these issues. Thanks.