Attached is the October 25th South American DPR.
 
Attached is theDaily P/L Summary of  ($    25,000)

South America Trading	              $  166,000    
 
Argentina Power Total:	              $   119,000

	Power Trading
		Rho & Drift	              $     1,000
		Price Actuals		  $     4,000
					 ------------------
				              $     5,000

	Modesto Maranzana Plant
		Rho & Drift		 ($     1,000) 
		Oct Actualization Adj	 ($   14,000)
		PMA Sept Actualization	  $  129,000
				             -------------------
				              $  114,000


Brazil Power Total:		 $     59,000

		Rho & Drift		 $       8,000
		Sep O/A Adj CVRD Deal	 $     51,000
		          			-------------------
		Total			 $     59,000

	
Argentina Gas Total:   	            ($     12,000)

		Intramonth Book:
		Vol Updates 	             ($     1,000)
		Sept Modesto Gas Actual($   11,000)
					-------------------
		Total			($     12,000)

Modesto Maranzana Plant:	 ($   126,000)   

		Energy Availability Adj	 ($     31,000)
		Capactiy Availability Adj	 ($     36,000)
		Internal Consumption	 ($       5,000)
		Transmission & PAFTT	 ($     33,000)
		GEI			 ($       4,000)
		Heat Rate Adj		 ($     17,000)
					---------------------
		Total			 ($   126,000)

Modesto Maranzana Plant Mgr:	 ($      66,000)

		Sept Fixed O&M	 ($      66,000)
					---------------------
		Total			 ($      66,000)
Regards,

Patricia Rivera