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Bonds Date Maturity Issuer Amt ($ mil) Offer Price Type of Security Coupon (%) Moody's S&P Bookrunner(s) 10/02/01 10/15/11 Arizona Public Service 400 99.668 Bonds 6.375 Baa1 BBB CSFB/JPM 10/02/01 10/01/05 Detroit Edison (DTE Energy) 200 99.856 Fst Mtg Bonds 5.05 A3 A- SALOMON/BARCLAYS/BANK ONE 10/02/01 10/01/10 Detroit Edison(DTE Energy) 500 99.982 Fst Mtg Bonds 6.125 A3 A- SALOMON/BARCLAYS/BANK ONE 10/03/01 10/01/08 Mirant 300 99.813 Bonds 7.2 Baa3 BBB- SALOMON/BofA 10/03/01 10/01/21 Mirant 450 99.851 Bonds 8.5 Baa3 BBB- SALOMON/BofA 10/03/01 10/26/11 Tokyo Electric Power 413.9 100 Bonds 1.445 Aa2 AA- NIKKO-SSB 10/03/01 10/26/06 Tokyo Electric Power 413.9 100 Bonds 0.5 Aa2 AA- DAIWA M&A Date Announced Date Effective Target Target Country Acquiror Acquiror Country Value ($mil) 09/27/01 - Orion Power U.S. Reliant Resources U.S. 4,975.257 09/28/01 - Furnas Centrais Eletricas Brazil Investors N/A - 09/28/01 - Furnas Centrais Eletricas Brazil Investors N/A - 09/28/01 - OEstnett Norway Viken Energinett Norway - 09/28/01 - PEC Tarnobrzes Poland Elektrocieplownia Krakow Poland - 09/28/01 09/28/01 SPE Belgium EdF France - 09/28/01 09/28/01 Tindra Norway ASA Norway 39.072 10/01/01 10/01/01 Gruzgaz Georgia Itera Group Russian Fed. - 10/02/01 - GAIL India Indian Oil India - 10/02/01 - Niagara Mohawk Energy U.S. Select Energy U.S. - Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

Bahrain's Ministry of Finance has selected Gulf International Bank to provide short-term financing to fund an expansion of the Al Hidd power and water desalination plant, according to Shahriar Khoshabi, a financier at GIB in Abu Dhabi. The bank is currently in the process of closing the $350 million six-month bridge loan. It does not intend to syndicate the transaction, says Khoshabi.

Following is a directory of upcoming Middle Eastern power projects. To report new projects, please call Will Ainger, Managing Editor, at (44-20) 7303-1735 or email: wainger@euromoneyplc.com

Middle East & North Africa

Delays to the syndication of the $1.3 billion Al Shuweihat S1 project loan because of the recent U.S. terrorist attack could jeopardize the validity of the project's power purchase agreement, say financiers that have studied the deal.

Bonds Maturity Issue Date Issuer Amt ($ mil) Offer Price Type of Security Coupon (%) Moody's S&P Bookrunner(s) 09/18/01 09/15/03 Nevada Power(Sierra Pac Res) 150.0 100.000 Notes 6.000 Baa2 BBB- LEHMAN 09/19/01 09/15/06 Consumers Energy(CMS Energy) 350.0 99.696 Notes 6.250 Baa3 BBB+ BANK ONE\SALOMON M&A Date Announced Date Effective Target Target Country Acquiror Name Acquiror Industry Sector Acquiror Country Value ($mil) 09/13/01 - Electra de Viesgo SA(Endesa) Spain Ente Nazionale per l'Energia Electric, Gas, and Water Distribution Italy 1946.041 09/13/01 09/13/01 Houay Ho Power Laos Belgelectric Finance Electric, Gas, and Water Distribution Netherlands 30 09/13/01 09/13/01 Houay Ho Power Co-Receivables Laos Tractebel Electric, Gas, and Water Distribution Belgium 98.7 09/13/01 09/13/01 StateWest Power Australia Wesfarmers Energy Miscellaneous Retail Trade Australia - 09/14/01 09/14/01 Taegu Electric Power Co South Korea SK Corp Oil and Gas; Petroleum Refining South Korea 0.401 09/15/01 09/15/01 Wasserversorgung Sarstedt Germany Avacon (E.on) Electric, Gas, and Water Distribution Germany - 09/17/01 - American Water Works Co Inc U.S. RWE Electric, Gas, and Water Distribution Germany 7972.783 09/17/01 - COPEL Brazil Estado do Parana Public Administration Brazil 93.623 09/17/01 - G-8 Group Poland Iberdrola Electric, Gas, and Water Distribution Spain - 09/17/01 09/17/01 Osan Energy South Korea Daesung Industrial Co Chemicals and Allied Products South Korea 11.627 Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

Enron's corporate model is to open new markets using skills and approaches that are successful in other markets. This is actually a very straightforward and transparent approach, but not always successful. Enron has a corporate structure that accepts more risk and seeks more opportunities than most other energy companies. The firm also has a very flexible and adaptable learning environment.

TheDhofar Power Consortium (DPS) has hired a third bank to lead arrange a $232 million non-recourse loan to fund a power project at Salalah, Oman, and hopes to launch syndication in late September. A banker involved in the deal says local lender Bank Muscat has joined Westdeutsche Landesbank andBNP Paribas as a lead arranger. The leads are looking to hold bank meetings in London and Muscat, Oman, during the last week of September, but last week's New York and Washington terrorist attacks could delay proceedings, says the banker.

Lead arrangersCitibank ,Barclays Capital, Royal Bank of Scotland, Bank of Tokyo-Mitsubishi, Kreditanstalt für Wiederaufbau, National Bank of Abu Dhabi and Abu Dhabi Investment Co. sent out invitations early last week for banks to participate at the co-arranger level in syndication of a roughly $1.3 billion non-recourse loan for the sponsors of the Al Shuweihat S1 power and desalination plant in Abu Dhabi.

Following is a directory of upcoming Middle Eastern power projects. To report new projects, please call Will Ainger, Managing Editor, at (44-20) 7303-1735 or email: wainger@euromoneyplc.com.