Louise:  We are attempting to revise the Watch Report from the 7 to 8 page narrative report that has evolved to a streamlined two page analysis.  The results for EWS are attached as a draft report.  Before we make a wider distribution to other executives in EWS, I would really appreciate your comments and/or suggestions for improvement.  The Principal Investment assets have been pulled out and placed in a similar report that has been furnished to Kevin G.

Thanks for your help!      

Rick C.