AEP Master Netting Agreement was in last stages of negotiation this afternoon -- we believe they've agreed to limit it to physical gas, physical power, and financial swaps masters/ transactions between ENA &/or EPMI and the two major AEP trading affiliates (American Electric Power Service Corporation as Agent for the AEP Operating Companies ("AEP") and AEP Energy Services, Inc. ("AEPESI"). Gas and power receivables financing notifications were made to Ephross et al, Cash et al. this afternoon.  Execution of Master Netting Agr. must be preceded by AEP and EPMI's execution of an amendment ("Amendment") to power master agreements instituting margining solely as to EPMI, which Amendment is resolved except for the $ figure to be placed on the collateral threshhold. Elizabeth Sager on standby to take this to completion if execution is to take place this evening.