Louise,

A couple of weeks ago we bought an option on four more LM6000's for a Jan02 delivery.  The intent was to sell our 4 July01 machines and recognize approximately $5MM for this "time swap".  We believe that we are in a position to execute this swap (Delta Power is at the table), but during the past two weeks we have received very strong tolling bids (Merrill Lynch, Duke, Constellation) for the LV project that imply a $20MM value to the project but require a commercial operation date of Sep02.  COD of Sep02 requires early turbine delivery.  We are therefore leaning towards canceling the turbine sale/repurchase in order to go for the bigger prize.  It will require finalizing development, EPC contract, tolling agreement, finance plan and internal approvals by May 1.  I am recommending that we go for it.  If we are not able to pull it off, I am confident that the high bids for these machines will still be there.  

Chris