Chris:

Will this result in EPMI getting more $ for Dec.?

C
---------------------- Forwarded by Chris H Foster/HOU/ECT on 04/10/2001 02:32 PM ---------------------------
   
	Enron Capital & Trade Resources Corp.  From:  CRCommunications <CRCommunications@caiso.com>                           04/10/2001 11:19 AM	
		


To:	ISO Market Participants <IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=ISO+20MARKET+20PARTICIPANTS@caiso.com>
cc:	 
Subject:	CAISO Notice: Update to California Power Exchange Request for Tra	nsfer of Funds


ISO Market Participants:

> Please be advised of this important follow-up from the Market Notice of
> March 8, 2001, (an extract of which is provided below.)
>
> The ISO has been informed by our counsel that Judge Moreno has granted the
> California Power Exchange's temporary restraining order request which
> would prohibit the ISO from distributing the funds referenced below.
> Additionally, an order is being finalized which will direct the ISO to
> turn over the $171,116,114.43 to the California Power Exchange.
>
>
> March 8, 2001 Market Notice Extract:
>
> Additionally, the ISO received $171,116,114.43 ($177 million less GMC
> obligation) directly from PG&E.  PG&E indicated the funds were to be
> applied in payment of California Power Exchange ("Cal PX") obligations.
> The ISO has been contacted by the Cal PX, and they have indicated they
> believe they are entitled to such funds and that such funds are subject to
> a pending action in federal court entitled "Enron Power Marketing, Inc.
> and Enron Corp. v. California Power Exchange Corporation", Case No.
> 01-00901CM (Central District of  California.  The Cal PX has indicated
> they plan to seek an order within the next 7-10 days with the Court to
> have the funds transferred to the Cal PX for deposit into an escrow
> account pursuant to Judge Moreno's Preliminary Injunction.   These funds
> are being held by the ISO in a segregated interest bearing account pending
> resolution of this issue by that court.
>
>
CR Communications
California ISO