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October 5, 2000

Porcupine I LLC Financing (Phase II). Legend. Corporation. Partnership. Branch. October 5, 2000. ASF. Enron Corp. (Oregon Corp.). LJM2 Capital Management LLC (Delaware LLC). Other Investors. LJM2 Capital Management LP (Delaware LP). GP Interest. 100%. Other Investors.

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October 5, 2000

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  1. Porcupine I LLC Financing (Phase II) Legend Corporation Partnership Branch October 5, 2000 ASF Enron Corp. (Oregon Corp.) LJM2 Capital Management LLC (Delaware LLC) Other Investors LJM2 Capital Management LP (Delaware LP) GP Interest 100% Other Investors LJM2 Co-Investment LP (Delaware LP) Enron Energy Services, LLC (Delaware LLC) GP Interest 100% Other Investors LJM2- Porcupine LLC (Delaware LLC) “Desert A Interest” Managing Member Pronghorn I LLC (Delaware LLC) BSCS XXIII, Inc. (Delaware Corp.) .01% 100% Vote “Warrant A Interest” Member Interest (Debt for tax) Member Interest Derivatives Management Duties (Per LLC Agreement) Porcupine I LLC (Delaware LLC) $259M Porcupine Term Debt Security $50M Porcupine Revolving Debt Security $259 MM Pronghorn Note 1 “Desert B Interest” Transaction Step Enron will contribute its managing member interest in Pronghorn to EES after Enron has paid off the $50M note payable to Pronghorn. Desert I LLC (Delaware LLC) $30M Enron Demand Note 99.99% “Warrant B Interest” EES Warrant Trust (Delaware Business Trust) Special warrant granting the holder the right to purchase 120,589 shares of TNPC, Inc. and valued @ $259,212,085 (120,589 shares X $2,149.55). Revised by JBV: 11/27/2000

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