Lisa and Richard,

I wanted to give you both a heads up on the two latest bankruptcies:  Arcadia 
Energy Corp and Armstrong World Industries.  EES is the only Enron entity 
with exposure to Arcadia (approx $4MM); ECC and EES have limited exposure 
(<100K) to Armstrong and its Canadian subsidiary.  If you have any questions, 
please give Tanya, Bill, or myself a call.

Thanks,
Veronica