We are certainly two different companies.  At first blush, the stable cash flow from the utility business is certainly a good thing.  A foothold in PJM may also be beneficial.  Combined market cap would be about $25 million--debt-to-cap still high, offset by more stable cash flows.  EXC's ROA and ROE appears much stronger.  More later....

 -----Original Message-----
From: 	Steffes, James D.  
Sent:	Friday, October 26, 2001 8:29 AM
To:	Schneider, Chip
Subject:	Exelon + Enron -- Do the financials look good?

Chip --

Did you get the chance to look at the combined company?  Just interested.  

Thanks