Lin
 
As you know Enron Power Marketing, Inc ("EPMI") had executed an EEI Master 
Agreement with Commonwealth Edison Company and with the assignment and 
assumption of this Agreement, amongst others, and with no EEI Master 
Agreement in place with PECO, unless otherwise agreed by the parties we will 
assume that this EEI Master Agreement will govern future transactions between 
EPMI and Exelon Generating Company, LLC ("Exelon"). There may be some credit 
issues going forward, however while we have the Exelon Corp. guaranty in 
place in its current form, we do not have any credit issues insofar as they 
relate to physical power trading.

However, in the interim, we will need to clearly identify, at an operational 
level, with whom we are trading. To that end we will be terminating access to 
EnronOnline to all users who are still trading under either PECO or ComEd 
identifications. While we realise that they are trading for and on behalf of 
Exelon, this is an operational matter and we will need to carry out this task 
to reflect the legal position. 
 
This is not to be taken as, and is not a consent by EPMI to any such 
assignment or assumption, but solely a suggested way forward in the short 
term to ensure clarity in any dealings between the new legal entity that is 
Exelon and EPMI
 
 
Kind regards,
 
Marcus