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M&A Date Announced Date Effective Target Target Country Acquiror Acquiror Industry Sector Acquiror Country Value ($m) 18/1/2001 - Kogeneracja Poland EDF Electric, Gas, and Water Distribution Poland - 18/1/2001 18/1/2001 Intergas Netherlands RWE Gas AG(VEW/RWE) Electric, Gas, and Water Distribution Netherlands - 20/1/2001 - Ansaldo Energia-Milan Unit Italy Private Investor Investment Firms,Dealers,Exchanges Italy - 22/1/2001 - EDP Electricidade de Portugal Portugal Investors Investment Firms,Dealers,Exchanges Portugal - 23/1/2001 - ESWE Versorgungs Germany Thuega AG Electric, Gas, and Water Distribution Germany 141.0 BONDS Maturity Issue Date Issuer Amount ($m) Offer Price Type of Security Coupon (%) Yield (%) Moody's S&P Book Manager(s) 01/24/2003 01/19/2001 SCANA 202.0 100.00 FRNs Floats Floats A3 A- CSFB 01/31/2003 01/23/2001 Dominion Resources 999.3 99.93 Notes 6.000 6.040 Baa1 BBB+ LEH 02/02/2004 01/24/2001 International Endesa 276.0 99.85 FRNs Floats Floats Aa3 AA- HSBC/CCF 02/25/2013 01/24/2001 Kyushu Electric Power 170.8 100.00 Bonds NA NA NA NA NOMURA Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

M&A Date Announced Date Effective Target Target Country Acquiror Acquiror Industry Sector Acquiror Country Value ($mil) 11/1/2001 - Houston Pipe Line Co(Enron) United States AEP Energy Services Gas Electric, Gas, and Water Distribution United States - 11/1/2001 11/1/2001 Lomellina Waste to Energy Proj Italy Fineldo(Vittorio Merloni) Electronic and Electrical Equipment Italy - 11/1/2001 - Sydkraft Sweden E.On Energie Electric, Gas, and Water Distribution Germany - 11/1/2001 11/1/2001 Tata Steel-Power Plant India Tata Power Electric, Gas, and Water Distribution India - 12/1/2001 12/1/2001 Gelsenwasser Germany E.On Energie Electric, Gas, and Water Distribution Germany - 15/1/2001 15/1/2001 Oestenfjeldske Kraftomsetning Norway Hafslund Electric, Gas, and Water Distribution Norway - 16/1/2001 - Beijing Datang Power Gen China China Light & Power Electric, Gas, and Water Distribution Hong Kong - 16/1/2001 - Union Power Development Thailand Union Energy(Saha Union Group) Oil and Gas; Petroleum Refining Thailand - 17/1/2001 - Fawley Power Station(Innogy) United Kingdom Independent Power(UK) Electric, Gas, and Water Distribution United Kingdom 62.0 17/1/2001 17/1/2001 Guascor Spain Mercapital Investment & Commodity Firms,Dealers,Exchanges Spain 77.0 BONDS Maturity Issue Date Issuer Amount ($ mil) Offer Price Type of Security Coupon (%) Yield (%) Moody's S&P Book Manager(s) . 01/11/2001 Entergy Mississippi(Entergy) 540.0 - Debt, First Mtg Bonds - - Baa2 BBB+ TBA 01/23/2009 01/11/2001 Tractebel Invest International 190.7 100.17 Guaranteed Nts 5.625 5.599 NR NR FORTIS Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

* Brazil will offer plant developers concessions to build and operate some 6,700 MW of hydroelectric plants this year, nearly triple the capacity offered last year. The government, which faces a potential power crunch, will also offer 18 new transmission concessions covering 3,400 miles of lines (Reuters, 1/15).

* Innogy, an U.K. electric utility, said it would book a $370 million exceptional profit this year after restructuring lease arrangements for three power stations. The restructuring enables TXU Europe to purchase the freehold of the three U.K. plants, West Burton, Ironbridge and Rugeley B (Reuters, 1/16).

* Dynegy is prepping to take Southern California Edison and Pacific Gas & Electric to court if they fail to make payments due this week (Associated Press, 1/16).

* Investigators have uncovered a web of corruption within China's state-run power monopoly. Officials said Cha Keming, a former deputy minister of power, has been arrested for taking bribes during power project tenders (Financial Times, 1/16).

Poland has 33,000 MW of installed capacity, making it the largest power market in central and eastern Europe. Coal is the dominant fuel in the electricity industry, accounting for 94% of the country's primary energy production. This is split between hard coal and brown coal (lignite), which provides nearly all of the fuel consumed in Poland's power plants. The remaining electricity comes from thermal generation and hydroelectric generation.

Following is a directory of ongoing generation asset sales. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. To report new auctions or changes in the status of a sale, please call Will Ainger, managing editor, at (44-20) 7303-1735 or e-mail wainger@euromoneyplc.com.

BONDS Maturity Issue Date Issuer Amount ($ mil) Offer Price Type of Security Coupon (%) Yield (%) Moody's Rating S & P Rating Book Manager(s) 2/6/2008 8/1/2001 EPCOR Utilities - na MTNs - - - - RBC-DOM - 5/1/2001 TXU Electric 923.9 - Debt Sec, Pfd - - Baa1 BBB+ TO-BE-ANNOUNCED 9/1/2008 9/1/2001 Luz del Sur 10.0 100.00 Bonds Serial Serial - - CITICORP-PERU 23/1/2009 11/1/2001 Tractebel Invest International 190.7 100.17 Guaranteed Nts 5.625 5.599 NR NR FORTIS SHARES - 10/1/2001 Dominion Resources 300.0 25.00 Preferred Shs - 8.400 baa1 BBB- MERRILL/MSDW M&A Date Announced Date Effective Target Target Industry Sector Target Country Acquiror Name Acquiror Industry Sector Acquiror Country Value ($mil) 01/04/01 01/04/01 Seas-Gas-Power Plants(6) Electric, Gas, and Water Distribution Denmark Sydkraft Danmark Electric, Gas, and Water Distribution Denmark - 01/04/01 - Southern Energy Phil (Southern) Electric, Gas, and Water Distribution Philippines Keppel FELS Energy Oil and Gas; Petroleum Refining Singapore 164.0 01/05/01 - Electro Norte Oeste,Electro Electric, Gas, and Water Distribution Peru JORBSA Investment & Commodity Firms, Dealers,Exchanges Peru - 01/08/01 - Merrill Lynch-Global Energy Electric, Gas, and Water Distribution United States Allegheny Energy Electric, Gas, and Water Distribution United States 490.0 01/08/01 - Van Leeuwen Pipe & Tube Electric, Gas, and Water Distribution United States Wilson Industries Oil and Gas; Petroleum Refining United States - 01/09/01 01/09/01 Orton Utility Supply Electric, Gas, and Water Distribution United States WESCO International Construction Firms United States - 01/10/01 01/10/01 Sydkraft Electric, Gas, and Water Distribution Sweden E.On Energie Electric, Gas, and Water Distribution Germany 254.0 Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

Following is a directory of ongoing generation asset sales. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. To report new auctions or changes in the status of a sale, please call Will Ainger, managing editor, at (44-20) 7303-1735 or e-mail wainger@euromoneyplc.com. Seller Plants Location MW Plant Type Advisor Status Ahlstrom Development Mt. Posos Calif. 8.5 Coal N/A . . Ace Co-generation Calif. 5 Coal .. .. . Colver Pa. 29 Coal .. .. . Panther Creek Pa. 40 Coal .. .. . Gilberton Pa. 8 Coal .. .. American Electric Power/Central and Southwest Corp. Northeastern units 3 & 4 Okla. 300 Coal N/A Reviewing sale strategies. . Frontera Texas 250 Natural gas .. .. . Lon C. Hill Texas 546 Gas .. .. . Nueces Bay Texas 559 Gas .. .. . Ennis S. Joslin Texas 249 Gas .. .. CMS Energy Loy Yang Melbourne, Australia 2000 Coal Not Chosen Announced intention to sell. Denton Municipal Electric Spencer Station Texas 176 Natural gas Navigant Consulting Re-evaluating final bids. . Gibbons Creek Texas 98.4 Coal. .. .. . Ray Roberts Texas 1.2 Hydro .. .. . Lewisville Texas 2.1 Hydro .. .. Fortum Brigg U.K. 240 Gas BNP Paribas Preparing information memo. . South Humber U.K. 1,240 Gas .. .. .. Grangemouth*** U.K. 130 Gas .. .. .. Edenderry Ireland 120 Peat .. .. Independent Energy Various U.K. 130 N/A KPMG KPMG is handling the asset sale after Independent Energy went into receivership Nevada Power/Sierra Pacific All plants Nev. 663 Gas & Oil CSFB & Navigant Consulting First bids due in April. Sale expected by early 2001. Niagara Mohawk Power Nine Mile Point 1 N.Y. 1,614 Nuclear N/A Awaiting bids. .. Nine Mile Point 2 N.Y. 1,140 Nuclear N/A North Atlantic Energy Seabrook* N.H. 408 Nuclear N/A Must by sold by Dec. 2003. Ontario Power Generation Pickering Ontario 2,000 Nuclear Salomon Smith Barney Leased Bruce to British Energy. .. Darlington Ontario 3,600 Nuclear .. Sale of other plants has been put on hold. Ontario Power Generation Bruce Ontario 3,200 Nuclear . .. . .. Lennox Ontario 2,140 Oil, gas Merrill Lynch & Scotia McLead .. Lakeview Ontario 1,140 Coal .. .. Pacific Gas & Electric 68 Plants Calif. 3,800 Hydro Morgan Stanley Dean Witter Awaiting PUC approval. Expect sale to close by July 2001. DPL All plants Ohio. 3,500 N/A Morgan Stanley Public Service Co. of New Hampshire (Northeast Utilities) Merrimack N.H. 475.8 Coal J.P. Morgan Subject to approval for rate settlement by PUC and state legislature. . Newington N.H. 415 Oil/gas . . . Schiller N.H. 146.6 Oil/gas . . . Lost Nation N.H. 19.1 Diesel . . . Merrimack N.H. 42.2 Diesel . . Public Service Co. of New Hampshire (Northeast Utilities) Schiller N.H. 18 Diesel . . . White Lake N.H. 23 Diesel . . . Amoskeag N.H. 17.5 Hydro . . . Ayers Island N.H. 9.1 Hydro . . . Canaan Vt. 1.1 Hydro . . . Eastman Falls N.H. 6.5 Hydro . . . Garvins Falls N.H. 12.1 Hydro . . . Gorham N.H. 2.1 Hydro . . . Hooksett N.H. 1.95 Hydro . . . Jackman N.H. 3.55 Hydro . . . Smith N.H. 14.2 Hydro . . ScottishPower Hazelwood Victoria, Australia 1,600 Coal CSFB Final bids due this summer. TXU Lake Creek Texas 323 Gas Merrill Lynch . Tradinghouse Texas 1,340 . . . River Crest Texas 110 . . . Mountain Creek Texas 893 . . . Parkdale Texas 327 . . . North Main Texas 123 . . * North Atlantic Energy owns 34.8% of Seabrook *** Fortum owns 75% of Grangemouth. Mitsubishi owns the remainder. **** GPU owns 50% of each plant, via Prime Energy Ltd Partnership. Financial partners, such as insurance companies, own the remainder.