Please note the following addition to the Credit Reserve for October 2001.

CP: PG&E Energy Trading - Power L.P.
Deal No: 817705.1
Deal Date: 10/12/01
Deal Specifics: Enron to Buy Financial Swap from PG&E Energy Trading - Power L.P. 
Term: 01/01/2004 - 12/31/2006 
Volume:  50 Mw On-Peak
Price:  $49
Region:  NY Zone G (East)
Trader/Mid-Marketer:  Fletch Sturm
Credit Reserve Amount:  $60,000 USD

RAC: transaction confirmed under ISDA Master Agreement executed 6/27/01 between ENA and PG&E Energy Trading, Power L.P.

Please call with questions or comment.

Thank you
Wendy Conwell