Several recent developments, and in the interest of economy (mine!), I am 
copying all of you, who will have varying interests in this.

First, as soon as the upper house of parliament passes legislation, Austria 
will have accelerated their market oppening, to 100% in power by 2001, 
October, and by 2002, October for gas.  Sadia, you will want to reflect this 
in what you are doing for Kyran/EES, and Kathryn, you will want to note this, 
if Investor Relations is updating this data for analysts.  Margaret, FYI to 
you, too.

Second, I note that this decision was reached after being supported by a 
studyby the Austrian Institute of Economic Research (WIFO), saying 
liberalisation would bring down prices by 12-15%.  Paul H., suggest you have 
Viviana get a copy, and if in English, send copies to Margaret Carson.

Belgian cabinet has approved draft regulation lowering power threshold to 
20GWh p.a.   This goes to 10 GWh on 31 December 2002.  Sadia, I think this is 
again an acceleration, to be reflected in your updated numbers.  Margaret and 
Kathryn, also note.

Finally, Kyran, I see that EnergieNed has issued a study saying that there is 
"not a direct relationship between efficiency and deregulation".  I may take 
issue with this, depending upon what the full text says.  Can you work with 
Teun/Sadia to obtain a copy, and, if not too lengthy, get it translated for 
my review (and presumably your's, too)?  thanks

Please do not hesitate to contact me should any of you have any questions.    
thanks  mcs