?
?	VentureWire
	Wednesday, May 16, 2001		?
?	CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND	VentureWire Index
		'VentureWire
		today: 703.9 ? -0.27%	?
?

		top stories

		  Buzzsaw.com Lays Off 30%, to Close on $20M Third Round
		  Entertainment Site UGO Networks Acquires Rival Bla-Bla.com
		  EYP Mission Gets $57.5M Round One to Spin Off from Einhorn
		  Flatiron Moves in with J.P. Morgan Chase to Cool Burn Rate

		UPCOMING EVENTS
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		TODAY'S FEATURES
		PSINet Ventures Winding Down
		By Matthew Sheahan
		A source familiar with the company told VentureWire that PSINet Ventures, the
venture capital unit of troubled Internet company PSINet, has seen its staff
drop from 15 to three, is not doing any new deals whatsoever, and is doing
whatever it can to manage and liquefy its portfolio companies. more>>

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		Infineon Expands to Boston
		By Matthew Sheahan
		Infineon Ventures, the venture capital unit of German semiconductor
manufacturer Infineon, has recently expanded its reach with the placement of
an investment professional in the Boston area, managing director Rudolph
Ohnesorge told VentureWire. more>>

		Summit Partners to Pick Up the Pace
		By Amanda Briggs
		Summit Partners, a late-stage venture firm with offices in Boston and Palo
Alto, Calif., expects to pick up its investment pace later this year and is
looking to do more deals in Western Europe, according to managing partner
Bruce Evans. more>>

		Labrador Capitalizing on Early-Stage Deals
		By Amanda Briggs
		Early-stage venture firm Labrador Ventures is looking to finish investing its
current $90 million fund -- the firm's fourth -- sometime over the next six
months, according to managing director Stuart Davidson. more>>

		Intellamed Goes After First Venture Financing of $10 Million
		By Taran Provost
		Intellamed, a Bryan, Texas-based provider of online asset management
solutions for the healthcare industry, is looking to raise a round of $10
million, president and CEO David Hickson told VentureWire. more>>

		new money

		  KeepSmart Stays Ahead with $5.8 Million in First Round
		 Broadband Developer VDSL Systems Raises $12.4 Million Round
		 Creditek Receives $30M Investment from General Atlantic
		  DVD Conversion Firm LifeClips Gets $12.2M Round Two
		  Graphic Display Screen Firm Opsys Raises $11.2 Million
		  Interregnum Invests in Two U.K. Software Companies
		  Accounts Receivable Firm, Convergent Resources, Raises Round
		  DigiPlex Raises $48 Million Equity, $35 Million Debt
		  STSN Gets $66.5M of Series D Debt and Equity
		  Tribune Media Services Takes Majority Stake in TVData
		 Viator Closing $5M to $10M Series C Round in Next Two Weeks

		bad news

		  WorkingWoman.com Lays Off 63%; Looking for Buyers, Funding
		  Metiom Files for Chapter 11 after Investors Back Out
		  Idealab!'s eCRM Mybiz.com Goes Out of Business
		  Communications Firm OnSite Lays Off Two-Thirds of Staff
		  Streaming Media Tech Firm Eyecast Lays Off 50% of Workforce
		  eLedger to Shut Down ASP Service on May 31

		new products

		  Services Firm for Media KPE Launches Television Division
		  Private Biz Network Software Firm Model N Launches
		  Christianity.com Changes Name to Starwire
		  XML Networking Firm DataPower Announces Launch
		  Hi3G and Europolitan Vodaphone Form Mobile Telephony Firm
		  The MBA Co. Launches

		m&a

		  Motient Acquires Rare Medium in Cash-and-Stock Deal
		  XCare.net Buys E-Business Firm Confer Software
		  Escalate Acquires Managize Technology in All-Stock Deal
		  Qiva Acquires Supply-Chain Web Software Firm Capstan Systems
		  BrainHeart Buys Bankrupt Mobile Internet Division of Linq
		  EMS Technologies Acquires CI Wireless
		  Parthus Acquires Chicory for $41.4M in Cash and Stock
		  JAWZ Sells E-Business Unit to Rubicon for $323,000

		new directors

		  CRM Firm Parago Chairman Resigns, Remains on Board
		  Infrastructure Provider Eternal Systems Names New Director
		  Concellera Adds Two New Board Members

		new people

		  Guru Appoints Former Spherion Head to Chairman and CEO
		  Training Products Firm Cognitive Arts Appoints New CEO
		  Online Digital Printing Firm Mimeo Appoints New CEO
		  E-Commerce Firm Callbutton Names First President & CEO

		vc fund news

		  Invesco Closes $150M EuroMedia Fund as Part of $530M Pool
		 PSINet Ventures Closing Shop and Liquefying Its Portfolio
		  Schneider Electric Launches $44 Million Corporate VC Arm
		 Venture Firm Axiomlab Raises $17.1 Million Second Round
		 CalPERS Invests $10 Million in SVCV Fund 2
		  Friends Ivory & Sime Closes 3PC with $61 Million

		vw corrections

		  ProfessorQ
		  Ebrary

		 TOP STORIES... NEW MONEY... BAD NEWS... NEW PRODUCTS... M&A... NEW
DIRECTORS... NEW PEOPLE... VC FUND NEWS... VW CORRECTIONS

		top

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		top stories
		?
		Buzzsaw.com Lays Off 30%, to Close on $20M Third Round
		 mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Buzzsaw.com, a business-to-business
e-commerce marketplace for the building design and construction industry,
laid off 70 employees, or 30% of the company's staff, said chairman,
president, and CEO Carl Bass. The layoffs, which were across the board, were
"highly recommended" by the company's investors in order to lower
Buzzsaw.com's burn rate. Some senior executives, including CFO Paul Farmer,
were laid off. About 170 employees now remain at Buzzsaw.com. The company
expects to close a $20 million round in the next few weeks.  Mr. Bass
declined to name investors, but noted that existing investors are
participating and that a lead investor has been secured. Buzzsaw.com, which
has raised $90 million to date, garnered a post-money valuation of over $300
million in its $75 million second round last April. Due to market conditions,
Mr. Bass expects the upcoming financing, which is expected to carry the
company to profitability, to be a down round. Acquisition by anoth! er
company is always a choice, he said, but Buzzsaw.com is not actively looking
for such a deal. The company had revenues of over $5 million in 2000, and
expects revenues to double this year, becoming cash-flow positive in
mid-2002. Buzzsaw.com will also focus its business on printing transactions
and document sharing services. Autodesk, Bank of America, Crosspoint Venture
Partners, Impact Ventures, Morgan Stanley Dean Witter Private Equity, and
Real Estate Private Equity Groups have invested in Buzzsaw.com.
		http://www.buzzsaw.com

		Entertainment Site UGO Networks Acquires Rival Bla-Bla.com
		 mail? top

		 NEW YORK (VENTUREWIRE) -- Bla-Bla.com, an online portal for independent
content, said that it has been acquired by rival UGO (UnderGround Online)
Networks, for an undisclosed amount. Bla-Bla.com's CEO Michael O'Hara said
that the two companies had been "brainstorming" for nearly five months. Over
the past six months, both UGO and Bla-Bla.com have each announced layoffs of
about 30% of their staff, with UGO eliminating 40 people and Bla-Bla.com
cutting 16 people. UGO is expected to "pick and choose" from the remaining
employees at Bla-Bla.com to decide whom it wants to keep. Mr. O'Hara said
that he would not be involved with the combined company and is moving on to
other business opportunities. UGO has raised a total of $82 million in
funding and expects to break even within one year. The company is backed by
GRP, Gryphon Holdings III, J. & W. Seligman, and Vivendi, as well as J.P.
Morgan Chase & Co. Entertainment Group, Liberty Digital, and LiveWire.
Bla-Bla.com, which raised $7.65 millio! n in seed funding in September 2000
and an undisclosed amount two months later, is funded by Hudson Venture
Partners, Liberty View Equity Partners, SBIC, Silicon Alley Venture Partners,
Stonehenge Capital, and Youngtree Partners. As part of the overall
transaction, some of Bla-Bla.com's investors, including Liberty View and
Hudson Partners, will invest an undisclosed amount in UGO Networks.
		http://www.bla-bla.com
		http://www.ugo.com

		EYP Mission Gets $57.5M Round One to Spin Off from Einhorn
		 mail? top

		 BOSTON (VENTUREWIRE) -- TA Associates, a private equity firm, said it led a
$57.5 million first round for EYP Mission Critical Facilities, which provides
consulting, design, facilities operations management, and information
technology services to financial, telecommunications, and computer/Internet
corporate clients. Some of the investment was used to spin off EYP from its
parent company, Einhorn Yaffee Prescott Architecture & Engineering, as well
as to provide the company with growth capital. The funding also included a
minority investment from Heller Financial, TA principal Michael Wilson said.
Mr. Wilson also said that the company is planning a number of acquisitions,
the first of which will close in two months. Mr. Wilson, along with Roger
Kafka of TA, will take a seat on EYP's board of directors. TA Associates
manages over $5 billion and has invested in over 330 companies to date.
		http://www.eypmissioncritical.com

		Flatiron Moves in with J.P. Morgan Chase to Cool Burn Rate
		mail? top

		 NEW YORK (VENTUREWIRE) -- Flatiron Partners, a venture capital firm, said it
would vacate its Silicon Alley offices in order to save millions on rent. The
firm will move to the offices of its only limited partner J.P. Morgan Chase &
Co. Flatiron said that there would be no other changes in the firm's
financial structure. Last month Flatiron, which participated in more than 40
deals last year, said it may be raising its own fund. The firm still has
about $230 million of the more than $500 million committed last year by Chase
Capital Partners, which merged to form JP Morgan Partners in January. Two of
Flatiron's portfolio companies, Kozmo.com, which operated a one-hour delivery
service, and online new media company Urban Box Office Network, have closed
down. Flatiron recently said it is focused on securing follow-on financing
for its 35 portfolio companies.
		http://www.flatironpartners.com

		new money
		?
		KeepSmart Stays Ahead with $5.8 Million in First Round
		mail? top

		 HAWTHORNE, N.Y.  (VENTUREWIRE) -- KeepSmart, a provider of online and
offline continuing education services for professionals, said it has closed a
$5.8 million first round led by Deutsche Bank's Asset Management Group, with
additional participation from individual investors. The company said the
financing would be used for sales and marketing. KeepSmart, founded in 1981,
said it expects to reach profitability by the first quarter of 2002.
		http://www.keepsmart.com

		Broadband Developer VDSL Systems Raises $12.4 Million Round
		mail? top

		 DENVER (VENTUREWIRE) -- VDSL Systems, which develops broadband technologies
enabling very high speed digital subscriber line service distribution over
copper phone lines, said it raised $12.4 million in its second round of
funding. The round was led by UBS Capital and included investments from 3i,
Kennet Capital, and ACR, the Finnish investment company for the entrepreneur
Tatu Ylonen, founder of SSH Communications Security. VDSL systems said it
will use the capital for sales and marketing efforts and ongoing product
development.
		http://www.vdslsystems.com

		Creditek Receives $30M Investment from General Atlantic
		 mail? top

		 PARSIPPANY, N.J. (VENTUREWIRE) -- Creditek, an order-to-cash cycle
outsourcing and enterprise receivables management company, said it has
received a $30 million investment from General Atlantic Partners, a private
equity firm that focuses on IT and telecommunications businesses. The company
said the money would be used to develop technology and for operating
infrastructure. As a result of the funding, Mark Dzialga and Cliff Robbins,
partners of General Atlantic, will become the fifth and sixth members of the
board. Additional members of the board are chairman, president, CEO, and
founder John Metzger; Ernest Jacquet, managing partner of Parthenon; and
Samantha Trotman, general partner of Parthenon Capital. The company is
currently looking to add an outside person to its board, a company
spokesperson said. Parthenon is also an investor in Creditek.
		http://www.creditek.com

		DVD Conversion Firm LifeClips Gets $12.2M Round Two
		 mail? top

		 ACTON, Mass. (VENTUREWIRE) -- LifeClips, a provider of videotape-to-DVD
conversion services, announced that it has secured $12.2 million in second
round financing led by previous investor St. Paul Venture Capital, with
participation from unnamed individuals. The company plans to use the new
funds to expand its test market and to roll out the service on a national
level. Post-money, the company is valued at $25.6 million. LifeClips
anticipates break-even by the fourth quarter of 2002. With this round, there
were no additions to the LifeClips's seven-member board, which includes Brian
Jacobs of St. Paul Venture Capital. The LifeClips service is marketed via
offline film developers as well as on the company Web site. In November 1999
the company raised $4.3 million from St. Paul Venture Capital.
		http://www.lifeclips.com

		Graphic Display Screen Firm Opsys Raises $11.2 Million
		 mail? top

		 OXFORD, England (VENTUREWIRE) -- Opsys, which develops flat graphic display
screens, said it has received a GBP 8 million ($11.2 million) round of
funding led by 3i and Quester. 3i will invest $4.2 million while Quester's
investment totals $3.5 million. Other backers in this round are Japanese
venture capital group NIF and international investment bank Dresdner
Kleinwort Wasserstein. The company also said it has named professor John
Baits, former corporate director of technology for Cable & Wireless, to vice
chairman, and David Martin, former member of IBM's management team, as a
director. The company said it would use the capital to fund its new expansion
program, which includes a new manufacturing and research facility near
Silicon Valley, Calif., expansion of its U.K. research facility, and
licensing technology from Eastman Kodak. Opsys said that it plans to raise a
future round of funding.
		http://www.opsysdisplays.com

		Interregnum Invests in Two U.K. Software Companies
		 mail? top

		 LONDON (VENTUREWIRE) -- Interregnum, an IT investment and advisory company,
announced that it has invested GBP 1 million ($1.4 million) in the $2.8
million first round of Respond, a customer retention and loyalty software and
services vendor, and also invested $1.4 million in Link Software, a developer
of Web-based collaborative software. 3i also invested with Interregnum in
Respond's first round. Respond said it would use the funding to expand its
international operations and product range. Link said it plans to use the
funding for research and development and to expand into the U.S. With a
portfolio of over 30 companies, Interregnum is headquartered in London and
has offices in San Francisco and New York.
		http://www.elinksuite.com
		http://www.respond-inc.com

		Accounts Receivable Firm, Convergent Resources, Raises Round
		 mail? top

		 ATLANTA (VENTUREWIRE) -- Convergent Resources, which provides accounts
receivable management company for consumer, commercial, and healthcare
collection services, said it raised an undisclosed first round from
BancBoston Capital. Atlanta-based Cravey, Green and Wahlen, a private equity
firm, hold a majority stake in Convergent Resources. Convergent said it would
use the capital for future acquisition opportunities. As a result of the
investment BancBoston Capital will take a seat on the Convergent Resources
board of directors. Telephone 770-730-0015.

		DigiPlex Raises $48 Million Equity, $35 Million Debt
		 mail? top

		 LONDON (VENTUREWIRE) -- DigiPlex, a European operator of carrier-neutral
colocation facilities, said it has received EUR 55 million ($48 million) in
equity funding from previous investors the Carlyle Group and Providence
Equity Partners. The company also said it has drawn $35 million of debt from
a credit facility arranged by Deutsche Bank, Goldman Sachs, and CIBC. The
company said it would use the funding for the construction of its facilities
in Frankfurt, Geneva, London, Milan, Munich, and Oslo. DigiPlex offers a
range of carrier-neutral colocation, facility outfitting, and service options
to telecom operators and service providers. DigiPlex facilities provide
connectivity to fiber-optic networks and voice and data networking equipment
for its customers. The company has raised $239 million in equity and $96.6
million in debt to date. Other investors include Carrier1 and iaxis.
		http://www.digiplex.com

		STSN Gets $66.5M of Series D Debt and Equity
		 mail? top

		 SALT LAKE CITY (VENTUREWIRE) -- STSN, which provides high-speed Internet
access and specialized broadband services to hotels and conferencing centers,
said it has secured $66.5 million in debt and equity in its Series D round of
funding led by new investors Siemens and On Command. The round also includes
previous investors APV Technology Partners, Intel, Marriott International,
ThomVest Holdings, and Vantage Point Venture Partners. The debt financing was
provided by GATX. The company said it would use the funding to continue to
increase its penetration of North America, Europe and the Asia Pacific
region. Edward Grybek of Siemens Project Ventures (SPV) will join STSN's
board of directors. STSN raised over $111 million in venture capital in two
previous rounds.
		http://www.stsn.com

		Tribune Media Services Takes Majority Stake in TVData
		mail? top

		 CHICAGO (VENTUREWIRE) -- Tribune Media Services, which provides television
and film information, announced that it has made an undisclosed investment in
TVData Technologies in exchange for a majority interest in the company.
TVData Technologies collects and distributes listing information and
editorial material to multiple media companies. TVData plans to use the funds
to expand customer service in the U.S. as well as in international markets.
Previously, TVData has secured funding from undisclosed individual
investors.Tribune Media Services is a subsidiary of Chicago-based media
company Tribune.
		http://www.tvdata.com

		Viator Closing $5M to $10M Series C Round in Next Two Weeks
		 mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Viator, a provider of travel destination
products, technology, and distribution services, said it was closing a $5
million to $10 million Series C round within the next two weeks. Viator said
that Travelocity and Worldspan are participating in the round. Viator said
that the funding is its first institutional round from U.S. investors. Viator
also announced a strategic partnership with Travelocity whereby customers
will be able to book tours and attractions for destination cities on
Travelocity's site using Viator's technology. Viator has also received
funding from the Australia Technology Group, Technology Venture Partners, and
individual investors.
		http://www.viator.com

		bad news
		?
		WorkingWoman.com Lays Off 63%; Looking for Buyers, Funding
		 mail? top

		 NEW YORK  (VENTUREWIRE) -- WorkingWoman.com, a marketplace and resource for
professional and entrepreneurial businesswomen, said it has laid of 14
people, approximately 63% of its staff. A spokesperson for the company said
that the layoffs are a direct response to the difficult market conditions.
"The environment is simply not conducive to building Web sites," the
spokesperson said. The spokesperson said that the company is struggling
financially and has hired DeSilva & Phillips, an investment banking firm, to
find potential buyers. DeSilva is also exploring the possibility of
additional financing for WorkingWoman.com. WorkingWoman.com has raised $32
million in funding from two rounds of funding. Its investors include
BlackDiamond Ventures, Compaq Computer, Jefferies & Co., New York City
Investment Fund, Office Depot, PurchasePro.com, RWI Group, Sand Hill
Financial, Sycamore Ventures, and Telos Venture Partners. Carol Bartz, CEO of
Autodesk; Larry Ellison, CEO of Oracle; and Clifford Sobel, chairman o! f
Net2Phone, have also invested in WorkingWoman.com.
		http://www.workingwoman.com

		Metiom Files for Chapter 11 after Investors Back Out
		 mail? top

		 NEW YORK (VENTUREWIRE) -- Metiom, a business-to-business e-commerce
infrastructure provider for online purchasing, said that it has filed for
Chapter 11 bankruptcy. A Metiom spokesperson said that, due to market
conditions, the company's investors have decided not to invest the remaining
two tranches of Metiom's $45 million third round announced in January, of
which the company had received $15 million. Metiom had no comment about
layoffs but said it was "restructuring" and considering potential buyers. The
company said it expects the restructuring to be completed within the next 120
days. Metiom is backed by Forstmann Little & Co. and Summit Enterprises.
		http://www.metiom.com

		Idealab!'s eCRM Mybiz.com Goes Out of Business
		 mail? top

		 PALO ALTO, Calif. (VENTUREWIRE) -- Mybiz.com, which provided eCRM services
for small businesses over the Web, has shut down, according to founder Bill
Onderdonk. The idealab!-backed company had anticipated venture funding, but
was unable to close $3 million in Series A. Established in September 2000,
mybiz.com employed 12 and expected $500,000 in profits in 2001. Mybiz.com had
also held talks to be acquired, but could not close any deals. For the past
month, approximately six former mybiz.com employees have been maintaining the
Web site, which will be brought down this Friday. Mybiz.com may be acquired
by some of its former employees. Acquisition of the company or of the
company's assets remains possible, said Mr. Onderdonk.
		http://www.mybiz.com

		Communications Firm OnSite Lays Off Two-Thirds of Staff
		 mail? top

		 NEW YORK (VENTUREWIRE) -- OnSite Access, an integrated communications
provider that serves small and medium-sized business customers within
multi-tenant commercial office buildings, said it has laid off approximately
two-thirds of its 240 member staff -- about 158 employees. The company said
that the cuts were made across the board. A company spokesperson attributed
the layoffs to a lack of available capital rather than problems with the
company's business model. The spokesperson said the company is working on
financial alternatives including seeking more venture funding. While OnSite
Access will continue to serve its existing customers, the spokesperson said
that the company would not seek new customers until its financial condition
stabilizes. OnSite Access pulled its IPO last November citing current market
conditions. The company's backers include AT&T Ventures, Crosspoint Venture
Partners, Frontline Capital Group, J.P. Morgan Capital, Microsoft, Spectrum
Equity Investors, and Veritech! Ventures.
		http://www.onsiteaccess.com

		Streaming Media Tech Firm Eyecast Lays Off 50% of Workforce
		 mail? top

		 ARLINGTON, Va.  (VENTUREWIRE) -- Eyecast, a, developer of  technology that
enables Web-based live video access to remote sites, said it has cut
approximately 50% of its 65 member staff. Board member Pierre Eskonda said
Eyecast is realigning its business plan due to current market conditions. The
company closed a $30 million second round in April 2000 with investments from
ComVentures, New Enterprise Associates, and New Horizons Venture Capital.
Eyecast has also developed Web-based remote camera control, digital off-site
storage of video, and archived video access. Telephone 703-375-6900.

		eLedger to Shut Down ASP Service on May 31
		 mail? top

		 TOLEDO, Ohio (VENTUREWIRE) -- eLedger, which develops Web-based accounting
systems for small businesses, said it is shutting down its ASP service
effective May 31, 2001. The company laid off 30 people in April without
severance packages, leaving the company with two employees. It will sell
licenses to its source code on CD beginning May 17. The CDs will contain its
eLedger 2.2, eLedger ASP Server, and eLedger Business Manager products. The
company said that the announcement comes after it was unable to raise
additional capital. It had approached venture capital firms at the end of
last year, but was unable to find further funding. President and CEO Lee
Mellinger founded eLedger in January 1999. The company raised a total of $3.8
million from individual investor Gary Peat, a partner at Council Ventures,
and Lexware.
		http://www.eledger.com

		new products
		?
		Services Firm for Media KPE Launches Television Division
		 mail? top

		 NEW YORK  (VENTUREWIRE) -- KPE, a provider of digital services, including
integrated design and creative services, Web site development, and original
content creation for media and entertainment companies, said it launched a
new division, KPE Television, which will offer clients broadcast creative and
production services for on-air branding and promotional initiatives. Parent
company KPE, which operates a venture capital division as well, has also made
a few layoffs in most of its other divisions including its technology and
creative units. "There were overlaps and we felt we needed to do a little
restructuring to focus on new skill sets," said Rob Argento, KPE's vice
president of corporate communications. Mr. Argento would not disclose the
specific number of layoffs, only saying that the number was low. The new
television division will also offer enhanced and interactive television
services. Win Peniston, who was previously senior vice president and managing
director of Pittard Sullivan's New! York offices, will lead the new division
as managing director and has been named vice president of KPE. Mr. Peniston
said that, besides on-air initiatives including graphics and image spots, KPE
Television will merge online strategy and technology services into its
services. The division's clients include ABC Sports, Discovery Canada, and
Discovery Health. Mr. Penniston said that the KPE Television's four-person
staff will grow rapidly and at least double in size by the end of the year.
KPE raised $21.5 million in November 1999 from a group of investors including
Clarion Capital Partners, Grey Advertising, Wasserstein Adelson Ventures, as
well as several individual investors.
		http://www.kpe.com

		Private Biz Network Software Firm Model N Launches
		 mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Model N, which provides inter-enterprise
software to create private business networks, announced the launch of its
first product, Private Business Network Platform software. The new product
enables bricks-and-mortar companies to increase efficiency and reduce cost
for inter-enterprise business relationships. The company also launched this
week. Model N's board consists of James Breyer, managing partner of Accel
Partners; Robert Gunderson Jr., co-founder of Gunderson Dettmer LLP; and
chairman, CEO, and founder Zack Rinat. Model N is backed by Accel Partners
and Accel-KKR.
		http://www.modeln.com

		Christianity.com Changes Name to Starwire
		 mail? top

		 HAYWARD, Calif.  (VENTUREWIRE) -- Christianity.com, which provides online
content as well as online services and tools to churches and ministries, said
it has changed its name to Starwire. The company said the new name more
accurately represents its service offering. Starwire is backed by CBN; Regent
University, a Virginia Beach, Va.-based Christian graduate school founded by
Pat Robertson; Sequoia Capital; and an undisclosed private foundation. The
company has also received funding from Comdisco.
		http://www.starwire.com

		XML Networking Firm DataPower Announces Launch
		 mail? top

		 CAMBRIDGE, Mass. (VENTUREWIRE) -- DataPower, which provides advanced
XML-aware networking technology to enhance XML performance and security,
announced that it has launched. The company was founded by its CTO, Eugene
Kuznetsov. DataPower, which raised $1.1 million in its first round, is funded
by Bessemer Venture Partners, euclid technology ventures, and Latona
Associates. The company said that it plans to raise an addition $8 million to
$10 million within 90 days. With this funding, DataPower said it would build
out its sales and marketing force, and expand its engineering and
infrastructure capabilities. The company said it plans to grow its workforce
from 12 to 50 by the end of the year. DataPower's technology enables the
delivery of wire-speed XML processing and intelligent routing of XML
documents from a secure network device. DataPower, which is also considering
opportunities in Japan, expects to be profitable by the end of 2002.
		http://www.datapower.com

		Hi3G and Europolitan Vodaphone Form Mobile Telephony Firm
		 mail? top

		 STOCKHOLM, Sweden (VENTUREWIRE) -- Telecommunications firm Hi3G and publicly
traded Europolitan Vodafone have formed 3G Infrastructure Services, a jointly
owned company that will provide Hi3G and Europolitan with 3G mobile telephony
infrastructure. Both Hi3G and Europolitan own half of 3G Infrastructure, and
have made investments in the company. Based in Stockholm, 3G will operate in
areas outside of Goteborg, Malmo, and Stockholm. Hutchison Whampoa has a 60%
stake in Hi3G, and Sweden's Investor AB holds the remaining 40%.
		http://www.europolitan.se
		http://www.hi3gaccess.se

		The MBA Co. Launches
		 mail? top

		 WASHINGTON (VENTUREWIRE) -- The MBA Co., an online and offline business club
for graduates of leading MBA programs, said that it has officially launched.
The company will offer a number of networking services ranging from golf
tours, career information, and online reference materials. The company is
backed by individual investors.
		http://www.thembacompany.com

		m&a
		?
		Motient Acquires Rare Medium in Cash-and-Stock Deal
		 mail? top

		 RESTON, Va. (VENTUREWIRE) -- Motient, a publicly traded owner and operator
of an integrated terrestrial/satellite network, said it has signed an
agreement to acquire Rare Medium Group, a publicly traded  provider of
incubator and professional services for e-business initiatives. The
acquisition will include a combination of 9 million shares of Motient
subsidiary XM Satellite Radio's stock, worth approximateley $128 million,
newly issued Motient stock, and $13 million in cash. Under the agreemnet each
share of Rare Medium's outstanding stock will be exchanged for one-tenth of a
share of a new class of Motient preferred stock. Motient common stock closed
at $1.90 a share yesterday. In early April Rare Medium and Motient announced
that they had signed an agreement under which Rare Medium provided Motient
with $25 million by purchasing $25 million of exchangeable notes of Motient,
with another $25 million available.The previously announced $25 million loan
to Motient will be absorbed by the combin! ed company upon closing of the
transaction, expected in the third quarter of 2001. At the closing, Motient
will repay approximately $34 million of its outstanding bank obligations.
Rare Medium recently laid off 170 employees. The merged company will double
Motient's current 500 member staff. Motient was advised by J.P. Morgan
Securities. A Motient spokesperson said that the company has not decided what
position Glenn Meyers, chairman of Rare Medium Group, will take with the
newly merged company.
		http://www.motient.com
		http://www.raremedium.com

		XCare.net Buys E-Business Firm Confer Software
		 mail? top

		 ENGLEWOOD, Colo. (VENTUREWIRE) -- Publicly traded XCare.net, a provider of
e-business technology, announced that it has agreed to acquire Confer
Software, a developer of e-business process management systems. XCare.net
will acquire all outstanding capital stock of Confer for 595,000 shares of
XCare.net common stock, worth approximately $4.5 million, and $450,000 in
cash. As a result of this transaction, Ann Ting, president and COO of Confer
Software, will join XCare.net as CTO. An XCare.net representative said that
the company would be retaining an undisclosed number of Confer Software
employees. The Confer headquarters will remain an R&D site for XCare.net.
Confer Software is backed by CIBC Oppenheimer First Consulting Group, Frazier
& Co., JC Bradford, LiveOak Equity Partners, Matria Healthcare, Mayfield, Rho
Management, Robertson Stephens, and Salix Ventures.
		http://www.confer.com
		http://www.xcare.net

		Escalate Acquires Managize Technology in All-Stock Deal
		 mail? top

		 REDWOOD SHORES, Calif. (VENTUREWIRE) -- Escalate, which provides enterprise
e-commerce applications for integrated selling, said it has acquired the core
technology and assets of Managize, a supply-chain management and visibility
application technology company, in an all-stock deal. Full terms of the
transaction were not disclosed. According to an Escalate spokesperson,
Managize was approached about the sale when it was preparing to shut its
doors as a result of inadequate funding. However, Crescendo Ventures, an
investor in Managize, stressed that the company was not going out of
business, even though it had laid off 15 people -- a majority of its staff --
in April. Escalate is backed by Accel Partners, the Barksdale Group, Charter
Growth Capital, and Norwest Venture Partners. It employs 135 people and has
offices in Chicago, New York, and Redwood Shores, Calif. Managize raised
approximately $8 million in its Series A, its only round.
		http://www.escalate.com

		Qiva Acquires Supply-Chain Web Software Firm Capstan Systems
		 mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Qiva, which provides global logistics and
transportation management applications, said that it expects to acquire San
Francisco-based Capstan Systems, a provider of Web applications for global
supply-chain execution, within 45 to 60 days for an undisclosed amount. Qiva
said that no layoffs or office closings are planned. Qiva was founded in 1989
and has 195 employees in offices in San Francisco, Australia, France,
Malaysia, and  the U.K. It is backed by Aurora Funds, Bessemer Venture
Partners, Net Market Partners, and the Valent Group. Capstan is backed by
Bechtel, Celestica, Craig Walker, FG II Ventures, i2 Technologies, Jafco
Ventures, Orchid Asia Holdings, and Sterling Payot Co. Founded in 1998,
Capstan employs 51 people.
		http://www.capstan.com
		http://www.qiva.com

		BrainHeart Buys Bankrupt Mobile Internet Division of Linq
		 mail? top

		 STOCKHOLM, Sweden (VENTUREWIRE) -- BrainHeart Capital, a venture firm
focused on the wireless IT industry in Scandinavia, said it bought the mobile
Internet division of Linq, an IT company that filed for bankruptcy in April.
Financial details of the all-cash transaction were not disclosed. BrainHeart
said the acquired division would have a new name by next week and that the
company was expected to be profitable by the end of the year. Linq's founders
Jan Morath and Mikael Mandahl will continue to work at the acquired division.
Linq had raised $36.8 million from Emerging Technology, TekCapital, and six
Swedish pension funds. BrainHeart has $210 million in assets under
management.
		http://www.brainheart.com

		EMS Technologies Acquires CI Wireless
		 mail? top

		 ATLANTA (VENTUREWIRE) -- EMS Technologies, a publicly traded company that
designs and manufactures wireless and satellite applications, said that it
has acquired CI Wireless, a supplier of repeaters and other wireless signal
distribution products. Terms of the deal were not disclosed. CI Wireless will
relocate to EMS's Atlanta facilities, where its 17 employees have been
offered positions. The transaction gives EMS Wireless, a division of EMS
Technologies, two new product areas, which are extended indoor RF coverage
and outdoor repeaters. Investissements Novacap invested in CI Wireless's only
round of funding. The company was advised for this deal by Dallas-based law
firm Munsch Hardt Kopf Harr.
		http://www.ciwireless.com
		http://www.ems-t.com

		Parthus Acquires Chicory for $41.4M in Cash and Stock
		 mail? top

		 DUBLIN (VENTUREWIRE) -- Parthus Technologies, a publicly traded company that
provides platform-level semiconductor intellectual property, said that it has
acquired Austin-based Chicory Systems, which provides semiconductor
intellectual property, for a total of $41.4 million, including $11.7 million
in cash and 22.6 million in ordinary shares. An additional 20.5 million
ordinary shares may also be issued based upon achievement of certain
performance targets. None of Chicory Systems' 26 employees will be laid off
and no offices will close. Chicory was advised on this deal by the Austin
branch of San Jose-based law firm Brobeck. Founded in October 1999, Chicory
raised $5.3 million through two rounds from Convergent Group and
individuals.
		http://www.chicorysystems.com
		http://www.parthus.com

		JAWZ Sells E-Business Unit to Rubicon for $323,000
		 mail? top

		 CALGARY, Canada (VENTUREWIRE) -- JAWZ, a publicly traded provider of secure
information management products, said it sold its e-business division to the
division's management and the Rubicon Investment Group, a newly formed
merchant bank focusing on private equity buy-outs and public market
investments, for CAD 500,000 ($323,000) in cash. The new company will be
renamed Centient Solutions and will provide e-business application services
for business-to-business and business-to-customer companies. Rubicon founders
Raghu Kilambi and Greg Nuttall hold two seats on Centient's four-member board
of directors. Centient said it expects to be profitable this quarter.
		http://www.centientsolutions.com

		new directors
		?
		CRM Firm Parago Chairman Resigns, Remains on Board
		 mail? top

		 DALLAS (VENTUREWIRE) -- Parago, an Internet-based CRM company focusing on
promotional management, said that Steve Solomon has resigned from his
position as chairman of the company in order to spend more time in his CEO
position for CT Holdings, Parago's parent company. Mr. Solomon, who is also
the founder of Parago, will remain on its nine-member board. Although a
replacement chairman has not yet been named, Parago's operating duties will
be assumed by the company's president and CEO Ken Johnsen. Investors in
Parago include Dain Rauscher Wessels Investors, Seaboard Ventures, TH
Lee.Putnam Internet Partners, and Watershed Capital.
		http://www.ct-holdings.com
		http://www.parago.com

		Infrastructure Provider Eternal Systems Names New Director
		 mail? top

		 SANTA BARBARA, Calif. (VENTUREWIRE) -- Eternal Systems, a provider of
software infrastructure technology for the embedded and enterprise markets,
announced the appointment of Charles Perrell to its board of directors. Mr.
Perrell, a co-founder of Network Appliance, will be granted the fourth seat
on the board, which also includes Joseph Marks and Joel Balbien of Smart
Technlogy Ventures. In May 2000 Eternal Systems raised $7 million in Series A
financing from Smart Technlogy Ventures.
		http://www.eternal-systems.com

		Concellera Adds Two New Board Members
		 mail? top

		 MALVERN, Pa. (VENTUREWIRE) -- Concellera Software, a software technology
firm for Internet marketplaces, has announced two new board members. Jeremy
P. Coote, president of eCal, and Bruce E. Terker, a co-founder of Geewax
Terker, have been granted the third and fourth seats on the company's board.
Also on the board is Daniel Gardner, a partner of Lancaster Investment
Partners. To date, Concellera has received $4 million in two rounds from
individual investors who hold a 45% stake in the firm.
		http://www.concellera.com

		new people
		?
		Guru Appoints Former Spherion Head to Chairman and CEO
		 mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Guru, which operates a career Web site for
independent professionals, said it has appointed Ray Marcy to the position of
chairman and CEO. Mr. Marcy was most recently chairman and CEO of publicly
traded information technology provider Spherion. He replaces Guru's founding
co-CEOs Jon and James Slavet, who will remain with the company. To date, Guru
has raised $63 million in financing from investors including American
Express, August Capital, CS First Boston, Greylock, Investor AB, Texas
Pacific Group, and WR Hambrecht.
		http://www.guru.com

		Training Products Firm Cognitive Arts Appoints New CEO
		 mail? top

		 NEW YORK (VENTUREWIRE) -- Cognitive Arts, a developer of Internet-based
products and services for educational and corporate training, said it has
appointed Robert C. Daugherty as CEO. Mr. Daugherty replaces Russell C.
White, who has left the company to pursue other interests. Prior to joining
Cognitive Arts, Mr. Daugherty served as president and COO of inaQuest.com, a
provider of commercial commercial printing software until its July 2000
merger with ProForma.  He also joins as the eighth director on the company's
board, which includes Rob Bernstein of Leeds Weld, Brian Friedman of FS
Private investments, and Elliot Royce of GE Equity. To date, the company has
raised $33 million in three rounds of financing. Backers include Catterton
Partners, FS Private investments, GE Equity, Leeds Equity Partners, and
Regent Capital.
		http://www.cognitivearts.com

		Online Digital Printing Firm Mimeo Appoints New CEO
		 mail? top

		 NEW YORK (VENTUREWIRE) -- Mimeo, which provides Internet-based digital
printing services for the production and delivery of business documents,
announced the appointment of John F. Lyons as its new CEO. Mr. Lyons replaces
founder Jeff Stewart, who will serve as chief strategist and will remain on
the company's board of directors. Prior to joining Mimeo, Mr. Lyons served as
entrepreneur-in-residence at Impact Venture Partners. He joins as the fourth
member of the board, which includes Ross Goldstein, managing partner of
Draper Fisher Jurvetson Gotham. In February 2000 Mimeo raised $21 million in
a first round of funding. Investors include Draper Fisher Jurvetson Gotham,
Hewlett-Packard, and unnamed individuals.
		http://www.mimeo.com

		E-Commerce Firm Callbutton Names First President & CEO
		 mail? top

		 DALLAS (VENTUREWIRE) -- Callbutton, a provider of e-commerce technology that
aims to enable businesses to interact one-on-one with potential and current
online customers, announced the appointment of Michael Markette as the
company's new president and CEO. He is the first person to hold this
position. Prior to his appointment, the company was headed by founder Eric
Linington, who will continue with the company as its chairman. Before joining
Callbutton, Mr. Markette headed LeadSwapNetwork, a spin-off of Onyx Software.
Currently backed by individuals, Callbutton is actively seeking Series A
financing.
		http://www.callbutton.com

		vc fund news
		?
		Invesco Closes $150M EuroMedia Fund as Part of $530M Pool
		mail? top

		 NEW YORK (VENTUREWIRE) -- Invesco Private Capital announced the closing of
EuroMedia Venture Fund at $150 million for early- and expansion-stage
investments in information technology, communications, broadband
infrastructure, and global commerce companies. The EuroMedia Venture Fund,
Citi Venture 2000 with $150 million, and Chancellor V with $230 million are
three funds that make up the $530 million Chancellor V pool of capital
Invesco closed on March 31, 2001. EuroMedia and the other two funds will
co-invest in technology companies. EuroMedia is expected to invest in
approximately 40 companies over a period of three years and has already
invested $41 million in 16 communications infrastructure and software
companies in the U.S. and Europe. EuroMedia also said it expected to announce
four to five U.S. investments in this quarter. The limited partners in
EuroMedia Venture Fund include 21 Investimenti; Arnoldo Mondadori Editore;
Banca Nazionale Del Lavoro; Ciao Holding; Fininvest of Italy, which contri!
buted $41 million; KirchGruppe; Mediaset; and Monte Dei Paschi di Siena.
There are six partners handling the fund and Alessandro Piol is the managing
partner responsible for the EuroMedia Venture Fund. Invesco Private Capital
manages over $2.3 billion.
		http://www.privatecapital.invesco.com

		PSINet Ventures Closing Shop and Liquefying Its Portfolio
		 mail? top

		 ASHBURN, Va. (VENTUREWIRE) -- PSINet Ventures, the venture capital unit of
troubled Internet company PSINet, will not do any more new deals and will
focus on managing and liquefying its portfolio companies, a source familiar
with the company told VentureWire. Following the layoffs or departure of all
but three employees, company treasurer Michael A. Erfurt is managing the
venture capital unit. PSINet Ventures' portfolio companies include
AccessBroker.com, a Dallas-based provider of online investing and trading
services; Agea, formerly agentGO, an application platform developer in
Austin, Texas; Boulder, Colorado-based Cirdadence, which developed online
service management technology; Coventus, a Kanata, Ontario provider of
Web-based applications and remote access services; and Roku Technologies, a
Chantilly, Va.-based software developer.
		http://www.psinetventures.com

		Schneider Electric Launches $44 Million Corporate VC Arm
		mail? top

		 CHICAGO (VENTUREWIRE) -- Schneider Electric, a manufacturer of components
for electrical distribution, industrial control, and automation, announced
the formation of Schneider Electric Ventures, a EUR 50 million ($44 million)
fund to invest in technology and e-business companies with long-term
potential to enhance Schneider Electric's products and services. Schenider
said possible areas would include remote monitoring, engineering design
tools, collaborative project management, micro-power generation, and wireless
technology. Schneider said it would invest up to $5 million in Series B
rounds or later and would prefer to co-invest with other venture capital
firms. The company also said that its equity stake in a startup would not
exceed 40%. To date, Schneider Electric Ventures has made nine investments,
among them Entivity, Knexsis, Ixia Soft, and Team Photonics. The fund will
consider investments in Asia, Europe, and the U.S. and has offices in
Chicago, Paris, and Singapore. There are five part! ners managing the fund,
with Jean Francois Masson in Chicago responsible for e-business investments
and Jean Netter in Paris responsible for technology investments. Schneider
Electric is headquartered in Paris and traded on the Paris Stock Exchange.
Telephone 847-925-3513.
		http://www.schneider-electric.com

		Venture Firm Axiomlab Raises $17.1 Million Second Round
		mail? top

		 LONDON  (VENTUREWIRE) -- Axiomlab, an early-stage venture firm, said it has
raised GBP 12 million ($17.1 million) in its second round of funding from
Aberdeen Asset Managers, M&G, Merrill Lynch Investment Managers, Morley Fund
Management, and individual investors. The company said the financing would be
used for staff expansion, opening offices in the Midlands, Ireland, and in
the Northeast area of the U.K., as well as for portfolio investments. To
date, Axiomlab has invested in eight companies, including auctions2business
and empiricom. The company said it has a post-money valuation of $46 million,
with institutional investors owning 50% equity in the company. Axiomlab has
raised $25.6 million in two rounds of funding and is trading on the London
Stock Exchange's alternative investment market.
		http://www.axiomlab.com

		CalPERS Invests $10 Million in SVCV Fund 2
		 mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Silicon Valley Community Ventures (SVCV), a
venture assistance fund that provides advisory services and capital, said it
has secured a commitment of $10 million from CalPERS for its second fund. The
fund, which has not yet closed, expects to secure additional limited
partners. The fund will provide equity financing for companies with revenues
between $1 million to $10 million in low-income communities, mainly in the
San Francisco Bay area. SVCV typically invests from $250,000 to $1 million in
initial and follow-on financing in each company. The firm expects to add a
senior portfolio manager to its team. To date, SVCV has invested $1.69
million in eight companies and provided a total of $275,000 in loans to three
companies. This investment in SVCV is part of a $475 million commitment by
CalPERS to 11 venture capital and private equity firms in an effort to invest
in the state's urban and rural markets.
		http://www.calpers.ca.gov
		http://www.svcv.org

		Friends Ivory & Sime Closes 3PC with $61 Million
		mail? top

		 LONDON (VENTUREWIRE) -- Friends Ivory & Sime, an international asset
management firm, announced closing 3PC Investment Trust,  its 12th  trust,
with GBP 43 million ($61 million). The firm had targeted raising between $57
million and $214 million. Friends Ivory & Sime said that up to 40% of the
fund would be invested in private companies and the remaining 60% will be
invested in initial public offerings on European stock exchanges. The firm
said it expects to invest in between 30 to 40 technology and biotechnology
companies over a period of two years. Friends Ivory & Sime has $53 billion of
assets under management. Cazenove & Co. acted as the placement agent for
raising the capital.
		http://www.friendsis.com

		vw corrections
		?
		ProfessorQ
		 mail? top

		 NEW YORK (VENTUREWIRE) -- An item in Tuesday's VentureWire incorrectly
spelled the name of ProfessorQ's new director David Seldin.

		Ebrary
		 mail? top

		 NEW YORK (VENTUREWIRE) -- A story in Tuesday's VentureWire about Ebrary
adding to its board, incorrectly identified new board member John Warnock's
relationship with Ebrary's CEO Christopher Warnock. John Warnock is
Christopher Warnock's father.

		company index
		top

		AuctionMart.com, AxiomLab, Bla-Bla.com, BrainHeart Capital, Buzzsaw.com,
California Public Employees, Callbutton, Capstan Systems, Centient Solutions,
Chicory Systems, CI Wireless, Cognitive Arts, Concellera Software, Confer
Software, Creditek, CT Holdings, DataPower Technology, Digiplex, eLedger.com,
EMS Technologies, Escalate, Eternal Systems, Europolitan Vodafone, EYP
Mission Critical Facilities, Flatiron Partners, Friends Ivory & Sime Private
Equity, Guru.com, Hi3G, Infineon Technologies, Invesco Private Capital,
KeepSmart, KPE, LifeClips.com, Metiom, Mimeo.com, Model N, Motient Satellite
Ventures, MyBiz.com, OnSite Access, Opsys, Parago, Parthus Technologies,
PSINet, PSINet Ventures, Qiva, Rare Medium Group, Schneider Electric, Silicon
Valley Community Ventures, Starwire, STSN, Summit Partners, The MBA Co., TV
Data Technologies, UGO Networks, VDSL Systems, Viator, Working Woman Network,
XCare.net

		Mobile Outlook - June 5 & 6

		The era of the Dick Tracy-style wrist videophone isn't upon
		us yet, but if the current generation of entrepreneurs and
		visionaries has its way, the arrival may not be far off.
		Even in a time of turbulent markets and an unsteady economy,
		the promise of the mobile Internet has turned out to be one
		of the brighter spots, one of the few remaining refuges of
		investors' interest. Technologic's newest Outlook will ex-
		amine the possibilities and pitfalls of mobile connectivity,
		and cover the market and technology opportunities for
		innovators and investors alike.http://www.mobile2001.net/

		investor index
		top

		3i Group, APV Technology Partners, Asset Management, Carlyle Venture
Partners, General Atlantic Partners, Intel Capital, Marriott International,
On Command, Providence Equity Partners, Quester, Siemens Mustang Ventures,
Thomvest Holdings, Travelocity, Tribune Media Services, VantagePoint Venture
Partners, Worldspan

		your account

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		legal

		This copy of VentureWire and the information within it may not be reproduced,
saved, or otherwise copied into a database without the prior written consent
of Technologic Partners.

		VentureWire is a service mark of Technologic Partners
		,2001 Technologic Partners
			?


Dear Mr. LARRY CAMPBELL:

Thank you for your order.

You sold 25 shares of JNPR (Juniper Networks Inc Com) at 125.000000.

ORDER DETAILS:
The tracking number for this order is: B-170-AAXB-7542
Order entered at:                      14:38:43 on 11/30/00
Order processing began at:             14:38:44
Order executed at:                     14:39:25 on 11/30/00

ACCOUNT DETAILS:
Time and Date: 14:39:25 on 11/30/00
Your position in JNPR is 95 shares
Your real cash total is $8,810.32

You will receive a printed Datek Online confirmation by postal mail, or by
electronic delivery if you are subscribed to that service.

Questions regarding this transaction? Contact our Customer Support department
by e-mailing support@datek.com. Please reference the order tracking number.


Got your message.  Which bill?  Could you try Scott Govenar (916.448.8240), since he's the lord of all bill activity?  Thanks a bunch.

Best,
Jeff


Jeff,

I would like to invite you to an off-site meeting of John Griebling's
organization
and the Research Group.

Date:   April 27 - April 29
Location:  Breckenridge, Colorado

As you know, John Griebling is managing the network design and construction
project
currently under way in EBS. The Research Group is actively involved in this
effort
which requires advanced quantitative skills in the area of stochastic
optimization and
stochastic processes (for modeling and forecasting Internet traffic flows).

The objective of this meeting is to develop common language and accomplish
transfer
of skills between the two groups, to facilitate cooperation on this project
in the future.

We are also inviting to this off-site senior management of EBS and plan to
have
on the agenda several presentations about strategic directions of EBS. The
effort
of network design and construction currently under way is  unprecedented in
terms
of its scope and complexity and it is important  for technical people, who
often have
highly specialized technical skills, to understand the broad picture.

I would appreciate if you could join us for Friday afternoon (April 28) and
Saturday (April 29). I understand  that you have commitments on Thursday and
Friday
morning. We have reorganized the tentative agenda of the meeting to devote
Friday afternoon to more general topics.

Vince


Martin:

Looks like great progress!  Mark


Notice No. 00-421
December 12, 2000

MEMORANDUM

TO:  ALL NYMEX AND COMEX MEMBERS

FROM:  Neal L. Wolkoff
  Executive Vice President

DATE:  December 12, 2000

RE:  Reminder of Price Fluctuation Limits Applicable to Trading on NYMEX
ACCESS

The purpose of this Notice is to remind Members and Member Firms that an
Executive Committee Resolution that was ratified by the Board of Directors
and that concerns Exchange price fluctuation limit rules as those rules apply
to trading on NYMEX ACCESS (Resolution), remains in effect and will
continue until February 1, 2001, unless Members are notified otherwise by the
Exchange.

As background, on October 6, 2000, the Exchange issued a Notice to Members
(#347), advising Members and Member Firms that the CFTC had approved this
Resolution.  The Resolution, which became effective with the commencement of
the NYMEX ACCESS session on Sunday, October 8, 2000, has amended on a
temporary basis a number of Exchange price fluctuation limit rules as those
rules apply to trading on NYMEX ACCESS. The Resolution is included
below.

The Resolution was issued so as to ensure the successful reimplementation of
the new implied order functionality on NYMEX ACCESS.  By
significantly expanding the price fluctuation limits applicable to trading
activity occurring on NYMEX ACCESS, the Resolution reduces the
possibility that a price limit would be triggered by the implied
functionality.

The Resolution amends, on a temporary basis, Exchange price fluctuation limit
rules - but only with respect to market activity occurring on NYMEX
ACCESS.

Thus, the new price limits that went into effect last week for Natural Gas
are further expanded as provided by the terms of the Resolution.

The Resolution amends the Exchange,s price fluctuation limit rules with
regard to trading on NYMEX ACCESS in four ways:

(1) The initial and subsequent price fluctuation limits (for each Exchange
futures contract that has such limits) are expanded to 200% of the initial
and subsequent price fluctuation limits applicable to the first two contract
months for energy contracts, or to the first contract month with limits in
effect for metals contracts, of that futures contract under the applicable
rule.

(2) This expanded limit (e.g., 200% of the limits for the front two months
for energy contracts) is applicable to all contract months for that futures
contract.

(3) In the event that an expanded price limit was touched by a bid or offer,
trading on NYMEX ACCESS generally would be halted immediately, rather
than requiring the market to trade at that price for five minutes. During the
last 90 minutes of a NYMEX ACCESS session, the market would be halted
only far as long as it takes for the system to incorporate expanded price
limits.

(4) As a clarification, the Resolution suspends use of certain &haircuts8
narrowing price limits based on notional settlement prices.  Specifically,
NYMEX Rule 6.56 (Settlement Prices and Price Fluctuation Limits for NYMEX
ACCESS) establishes the use of notional settlement prices as the base
point for price limits (until the actual settlement prices from the RTH
session can be input into the system.)  NYMEX ACCESS will continue to
use such notional settlement prices under the Resolution.  However, Rule 6.56
reduces applicable price limits by certain specified percentages during the
period when notional settlement prices are used as the base point for
establishing limits. Such &haircuts8 are not being used under the Resolution;
the Exchange will resume use of such haircuts following the expiration of the
Resolution.

Finally, the Resolution also clarifies one aspect of existing Exchange
practice.  In the event that a contract trading on NYMEX ACCESS
traded for five minutes at a price fluctuation limit applicable to Regular
Trading Hours (RTH) trading, then the RTH session would open with expanded
price fluctuation limits as provided under the applicable rule.  This
practice will continue to be followed during the period when the Resolution
is in effect, even though there had been no temporary cessation of trading
during the NYMEX ACCESS trading session because the market had not
hit the expanded limits applicable only to NYMEX ACCESS.

*  * * *
As noted, these temporary amendments to the Exchange,s price limits shall
expire on February 1, 2001, unless Members are notified otherwise by the
Exchange.
*  * * *

If you have any questions, please contact Stu Homler, Director, NYMEX
ACCESS Operations, NYMEX ACCESS Department, at (212)
299-2754, Matt Morano, NYMEX ACCESS Department, at (212) 299-2679, or
Brian Regan, Senior Associate General Counsel, at (212) 299-2207.

APPROVED RESOLUTION OF THE EXECUTIVE COMMITTEE
OF THE BOARD OF DIRECTORS REGARDING PRICE
FLUCTUATION LIMITS FOR EXCHANGE CONTRACTS

The Executive Committee of the Board of Directors hereby

Resolves that, until further notice, the price fluctuation limit rules for
each futures contract that is listed for trading on NYMEX ACCESSc and that
has such applicable rules shall continue in effect except as amended below
with regard to market activity occurring on NYMEX ACCESSc:

The initial and subsequent price fluctuation limits (for each Exchange
futures contract that has such limits) shall be expanded to 200% of the
initial and subsequent price fluctuation limits applicable to the first two
contract months of that futures contract that have price limits under the
applicable rule.

This expanded limit (200% of the limits for the first two months with limits)
shall be applicable to all contract months for that futures contract.

In the event that such a price fluctuation limit is reached by a bona fide
bid at the high price fluctuation limit or a bona fide offer at the low price
fluctuation limit, trading on NYMEX ACCESSc shall be halted immediately
except as directed otherwise by the President or the President,s designee.
Following resumption of trading, the price limits in effect shall be 200% of
the limits applicable to RTH trading.  In the event that a limit is touched
during the last 90 minutes of a NYMEX ACCESSc session, the market shall be
halted briefly, and price limits shall be expanded thereafter

In addition, in the event that a contract trading on NYMEX ACCESSc traded for
five minutes during the NYMEX ACCESS session at a price fluctuation
limit applicable to the Regular Trading Hours session, then the RTH session
shall open with expanded price fluctuation limits as provided under the
applicable rule, even though no temporary cessation of trading occurred
during the NYMEX ACCESSc trading session.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=mark.taylor@enron.com&refd
oc=(00-421)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


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Looks good to me - We should probably change Enron North America Corp. to
EnronOnline LLC.

	Leslie Hansen
	07/11/2000 10:31 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject:

Mark:

I'm going to put together a very short form of consent to obtain from those
entities that have consented to the republication of their work on EOL.
Please look over the proposed language below and advise.

Leslie

*********************************8

The undersigned has been notified that Enron North America Corp. and/or its
affiliates ("Enron") desires to publish "[Title of Content"] (the "Content")
on EnronOnline.  The undersigned owns and/or otherwise has the license to
republish, reproduce, and distribute the Content and hereby consents to the
use and/or republication of the Content by Enron on EnronOnline or any
successor thereto.

_____________________________

By: __________________________
 Name: _______________________
 Title: ________________________
 Date: ________________________


There's been a flurry of e-mail on this.

My original question remains -- can whomever (in Govt Affairs) received the
PX Credit calculation info from PG&E please let me know?

(I am working on this on several fronts, i.e. with Wanda, Diann and Mary
Lynne.  But I do need to see the PG&E info.)

Thanks.
Tamara
---------------------- Forwarded by Tamara Johnson/HOU/EES on 07/17/2001
09:18 AM ---------------------------

James D Steffes@ENRON
07/17/2001 07:47 AM
To: Tamara Johnson/HOU/EES@EES
cc:
Subject: Re: trying to locate PX Credit information

Did Jeff get this info?

Jim

	Enron Capital & Trade Resources Corp.

	From:  Tamara Johnson @ EES                           07/16/2001 04:19 PM

To: JMB <JBennett@GMSSR.com>, Harry Kingerski/Enron@EnronXGate, Jeff
Dasovich/NA/Enron@Enron, Leslie Lawner/Enron@EnronXGate, James D
Steffes/NA/Enron@Enron, Diann Huddleson/HOU/EES@EES, Mary Lynne
Ruffer/HOU/EES@EES
cc:

Subject: trying to locate PX Credit information

PG&E has changed the method of calculating the PX Credit recently.  Prior to
June they appeared to be using a market based price for power, but in June
the credit dropped to about $40/MWh which looks like utility-owned gen.

We want to make sure we are not missing a utility-levied charge in our
forward curves ( e.g. CTC charge that will be applied to DA) so we're trying
to verify the utilities' method of calculating PX credits.

I talked to the PG&E accounting person who said that their Regulatory group
has sent Enron's regulatory group information on the way the PX Credit is
calculated.  Can someone locate this information and forward it to me as soon
as possible?  Given that our customers are all switching to DA we don't want
to discover there's a charge we don't know about.

Thanks,
Tamara.


Have you done an analysis of the the latest price cap that was approved  last
week? How does it work?

Mary Hain@ECT
10/24/2000 03:17 PM
To: jdasovic@ees.enron.com, Stephanie Miller/Corp/Enron@ENRON
cc:

Subject: Fwd: White Paper - Final version

---------------------- Forwarded by Mary Hain/HOU/ECT on 10/24/2000 01:25 PM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Ronald Carroll" <rcarroll@bracepatt.com>
10/20/2000 12:09 PM

To: <mary.hain@enron.com>
cc:
Subject: Fwd: White Paper - Final version

Received: from mcafee.bracepatt.com by bracepatt.com; Fri, 20 Oct 2000
14:03:01 -0500
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-0400 (EDT)
From: "Seabron Adamson" <seabron.adamson@frontier-economics.com>
To: <rcarroll@bracepatt.com>
Subject: White Paper - Final version
Date: Fri, 20 Oct 2000 14:56:25 -0400
Message-ID:
<NDBBJDNDALMDFFFCOAEBGEABCFAA.seabron.adamson@frontier-economics.com>
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Please see attached Word document.

Seabron

This e-mail, and any attachments thereto, is intended only for use by the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution or
copying of this e-mail, and any attachments thereto, is strictly prohibited.
If you have received this e-mail in error, please immediately notify me at
(617) 354-0060 and permanently delete the original and any copy of any
e-mail and any printout thereof.

Seabron Adamson
Frontier Economics Inc
Two Brattle Square
Cambridge, MA 02138 USA
Ph:  (617) 354-0060
Fax: (617) 354-0640
seabron.adamson@frontier-economics.com

www.frontier-economics.com

 - 00-10-19 SA Enron White Paper - Final.doc
 - 0132257.01


To promote PEP:

We have mini Etch-A-Sketch key chains in green, purple and pink (yes, they work!)

OR

Silly Putty in green, yellow and red.

If you have not yet received your PEP toy from Amy or myself, please let me know!

*Note: Items and colors are limited and are available on a first-come, first-serve basis! =o)


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/23/2001
06:08 PM ---------------------------

Gwyn Koepke@ENRON
03/23/2001 03:40 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: FYI Re: South Korea curve: FX and inflation, dated 1/8/2001

---------------------- Forwarded by Gwyn Koepke/NA/Enron on 03/23/2001 03:40
PM ---------------------------

Gwyn Koepke
01/12/2001 11:34 AM
To: Cindy Hudler/HOU/ECT@ECT
cc:

Subject: FYI Re: South Korea curve: FX and inflation, dated 1/8/2001

---------------------- Forwarded by Gwyn Koepke/NA/Enron on 01/12/2001 11:34
AM ---------------------------

Gwyn Koepke
01/11/2001 06:56 PM
To: Monica Reasoner/HOU/ECT@ECT
cc: David Port/Market Risk/Corp/Enron@ENRON, Rudi Zipter/HOU/ECT@ECT, Frank
Economou/NA/Enron@Enron, Maureen Raymond/HOU/ECT@ECT

Subject: Re: South Korea curve: FX and inflation, dated 1/8/2001

Monica,

In preparing the FX curve, we assumed the following main points:

General outlook: a slightly more aggressive depreciation rate than the
consensus forecast and the forward market would indicate on the short-end
because of the lack of complete, measurable and sustainable progress in the
financial and corporate restructuring efforts.  The won depreciated more than
most analysts expected at the end of last year because of heightened concerns
regarding the government's banking sector reform program.   If the Koreans
follow the Japanese model and continue to put off badly needed banking sector
reform, the country is in for a long period of economic uncertainty.
Reform: We think the financial restructuring effort (bank mergers, etc, which
have led to public strikes recently) is going to take at least two years.
Industrial restructuring has been slow moving, the 50% drop in the stock
market since early 2000 is strong evidence of that, and the banks in their
weak state are not creating the liquidity needed to boost the economy.
Although the IMF package has been largely paid off, these underlying problems
remain.  The goal of government-sponsored financing is to shore up the
banking sector (which is burdened by non-performing loans) and to close
nonviable companies, but reform efforts have appeared to languish of late and
the cost of the program by some measures is as high as 26 percent of GDP.
Failure to find investors for the Daewoo Motor Company and Hanbo Steel should
warn investors of the impediments to reform in the Korean market.
Exports:  The weak Japanese yen (following stagnating demand at home in Japan
and abroad, coupled with a weak financial system and a huge public debt
burden) will likely cause the central bank to be very cautious about any
intervention to stem any possible slide in the won.  This is because Korea's
largest competitor on world product markets is Japan, and a weak yen hurts
Korea's export competitiveness (exports account for half of the Korea's
GDP).  Korea's FX reserves are strong.
Risks to Forecast: The risks to our forecast are those factors which could
lead to negative investor sentiment toward Korea.  Included in these risks
are stalls in restructuring or that restructuring efforts uncover serious
resistance by banks or corporates (chaebols) to proceed smoothly with reform
or the government succumbs to public pressure to soften the reform objectives
or implementation timeframes.

Gwyn Koepke

To: Gwyn Koepke/NA/Enron@Enron
cc: David Port/Market Risk/Corp/Enron@ENRON, Rudi Zipter/HOU/ECT@ECT, Frank
Economou/NA/Enron@Enron

Subject: South Korea curve: FX and inflation, dated 1/8/2001

Thank you for providing the South Korea curve.  Can you please provide a more
detailed explanation regarding you assumptions to calculate the curve?  The
SK-Enron team is interested in knowing your view points on the market.

Thanks again
Monica
---------------------- Forwarded by Monica Reasoner/HOU/ECT on 01/08/2001
03:15 PM ---------------------------

Maureen Raymond@ENRON
01/08/2001 03:34 PM
Sent by: Gwyn Koepke@ENRON
To: Monica Reasoner/HOU/ECT@ECT
cc: Cindy Hudler/HOU/ECT@ECT, Pushkar Shahi/ENRON@enronxgate
Subject: South Korea curve: FX and inflation, dated 1/8/2001

Monica,

Please find attached an updated forward curve for the Korean won and
inflation for 20 years dated as of 1/8/01.

Gwyn Koepke for
Maureen Raymond-Castaneda


FYI - Below are meeting notes from last week's Central Data Repository
meeting.

Summary.
The challenge - there are many technical steps necessary to achieve a single
data source for all of Enron.  Below are our team's immediate technical "To
Do's".
The good news - teams are continuing to work together to bring about a ONE
Enron single source of data.

Marie
----- Forwarded by Marie Hejka/Corp/Enron on 01/08/2001 09:58 AM -----

	Geary Surratt
	01/05/2001 06:40 PM

		 To: Steve Woods/EPSC/HOU/ECT@ECT, Joe Dorn/Corp/Enron@ENRON, Marie
Hejka/Corp/Enron@ENRON
		 cc: Kathryn Schultea/HR/Corp/Enron@ENRON, Michael Baust/Corp/Enron@Enron,
Antionette Forrest/HR/Corp/Enron@ENRON, Regina Figueroa/Corp/Enron@ENRON, Jo
Ann Hill/Corp/Enron@ENRON
		 Subject: Meeting Notes

This note summarizes the discussion and decisions made in today's meeting.
If your take on the meeting is different or if I have not accurately outlined
the decisions, please let me know and I will correct the synopsis below.

1. Facilities room and work phone for Houston Headquarters personnel will be
published in PeopleFinder and instructions will be provided on how to contact
facilities to correct data if needed.  The verbage for these instructions
will be developed with input from facilities.
2. The room and work phone in eHROnline will be display only for Houston
Headquarters personnel and will show the room and phone on Infotype 1028 in
SAP.  Instructions will be provided on how to contact facilities to correct
data if needed.  Whether or not to make these fields display only in
eHROnline can be determined by use of the SAP "z" table of Houston
Headquarters personnel areas currently used in the paycheck distribution
process.
3. SAP HR Houston will continue to process a nightly interface from
facilities to update room and work number on Infotype 1028.  This interface
can use either SS# or SAP ID.  The ISC will work with facilities to change
the interface to use Apeture data when FMS is retired.
4. "Global Data" people located in Houston Headquarters who are entered into
SAP in the new personnel area "Global Data" will have facilities data sent to
PeopleFinder.  These folks will be able to provide facilities with an SAP ID
instead of a SS# for entry into the facilities churn database.
5.  Contractors and "Global Data" people who are not in SAP HR Houston will
still be able to enter room and work phone in eHROnline.

------------------------------------------------------------------------------
------------------------------------------------------------------------------
----------------------------------------------------------------------------
For your reference, below is the original list of TO DO's from the 12/6/00
meeting with regard to employee entered SAP data in eHROnline.  The above
decision affects item 5.

1. Proceed with the load of email and GIS# via the existing SAP I0105
interface per the specifications provided on 11/16.  Tony Forrest will
coordinate with the data mart team to work out processing details.
ACTION ITEM FOR: Tony Forrest (coordinating with Data Mart Team)

2. Obtain cost estimate to provide for cell phone, fax and pager entry on a
web page that will directly update SAP.  Exactly how the page should look and
how to utilize the existing ESS transactions still needs to be finalized.
Once implemented, perform a one-time conversion of eHROnline data into SAP.
ACTION ITEM FOR: Kathy Schultea (eHROnline cost estimate)

3. Create an interim interface to keep "Known as" in sync between SAP and in
the DataMart.   The issues which still need to be addressed here is how to
keep the interface from overwritting changes entered in either eHROnline or
in SAP.
ACTION ITEM FOR: Tony Forrest  (coordinating  with Data Mart Team)

4. Since there is no current ESS functionality for employees to update this
field, obtain a cost and time estimate for creating transactions direct entry
into SAP by employees from an eHROnline web page.
ACTION ITEM FOR: Geary Surratt (SAP cost estimate)/ Kathy Schultea (eHROnline
cost estimate)

5. Meet with Steve Woods to work out the process to publish FMS data, allow
employees to enter corrections which will be published until they move to a
new phone, location, and publish new rooms/phone numbers from FMS upon
processing a churn, whether or not the employee has entered a correction.
ACTION ITEM FOR: Geary Surratt/Kathy Schultea


I just wanted to let you know that starting on September 5th, CEA's phones
will be answered by an automatic system.  This is being done so that we can
free up Carin to focus more on office management and client services.  As a
result, when you dial the CEA number (415-421-4213) you will hear a recorded
message asking you to enter the three digit extension of the person you are
trying to reach.  If you do not know the extension, you can select an option
that puts you into the company directory.  If you know the extension, you
can enter the three digits as soon as you hear the voice from the automated
system (i.e., you don't have to wait).  For your information, here are the
three digit extensions for everyone at CEA:

Carin D'Oliva - 101
Kirk Marckwald - 102
Peter Okurowski - 103
Darcy Whaley - 104
Andreas Merkl - 105
Tisha Mercado - 107
Darcy Wheeles - 109
John Claussen - 110
Jill Kaufman Johnson - 113
Lauren Johnson - 114

Peter Okurowski
Senior Associate
California Environmental Associates
423 Washington Street, Third Floor
San Francisco, CA 94111

Tel (415) 421-4213 x103
Fax (415) 982-7989
Cell (415) 999-0418
http://www.ceaconsulting.com
peter@ceaconsulting.com


Jeff and Laura,

I've attached the Gas Bench Porfolio that we discussed.  If you need any more
information just let me know.

Thanks for being patient.

Robin
x57478


Ben wants to know if you, Marissa and Carolyn are available for lunch
tomorrow at 1130.  How does it sound to you?

Kay


ABX1 Implementation:  Items H-23, H-24, and H-25 were held to the April 19,
2001 regularly scheduled meeting.  These items deal with funding issues to
allow the Department of Water Resources to continue with its
commodity-purchasing directives and regarding flow of funds from the
utilties. Items 4 and 4a address derivation of the California Procurement
Adjustment.  Item 4, provisions of which were passed at the March 27, 2001
business meeting, was unanimously approved.  This item adopts a mthod to
calculate the CA Procurement Adjustment. We will have a summery of this order
later today.

 Utility Holding Company Investigation:  The Commission voted 4-0 to
institute an investigation into the business practices of the utilities,
holding companies.  Commissioner Duque read a prepared statement by
Commissioner Bilas expressing his concerns regarding the intent of the OII,
whether it be investigative or punitive.  Commissioner Bilas requested that
the Scoping Memo yet to be issued address other relevant issues such as ring
fencing structures approved by FERC and the capital structure of the utility
companies.

 Interruptible Programs:  Commissioner Wood,s draft decision implementing 4
interruptible programs (agenda item 6) was approved on a 4-0 vote.  This
decision implements 4 programs designed to provide incentives to ratepayers
to manage their load including air conditioner cycling, voluntary load
reduction on the entire circuit, pay for load reduction incentives, and
discounts to customers who can reduce load on very short notice.

 Utility Solvency:  Items regarding issuance of bonds and other financing
items for the utiltities continue to be held

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854


Naomi

Shona Wilson suggested that you may be able to assist with the following
request for information. We are having to make some filings with the CFTC
arising out of the acquisition and change of names of the MG entities.
Specifically we are advised that , we will need to supply a corporate chart
showing the relationship with all previous MG entities and Enron Corp. We
will also need to provide a brief description of the acquisition itself.

Apologies for the short notice, but the filing will need to be made on or
before 25 November and we will need to conduct a full review with external
counsel to ensure that the correct filing is made.

If you need to speak to me my number is 713 345 8161.

Kind regards

Marcus

	Enron Europe

	From:  Naomi Connell @ ECT                           11/07/2000 01:04 PM

To: Shona Wilson/NA/Enron@ENRON
cc: Alan Aronowitz/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON, Justin
Boyd/LON/ECT@ECT, Tim Davies/LON/ECT@ECT, Sherri Griffin/Corp/Enron@Enron,
Donna Lowry/HOU/ECT@ECT, Tim Poullain-Patterson/LON/ECT@ECT, Tina
Ward/LON/ECT@ECT, Marcelo Parra/NYC/MGUSA@MGUSA

Subject: Re: st louis and chicago reports

Please note that there is a global review of Agency agreements that is going
on for the entire metals structure at this stage.  It is totally linked with
the tax structuring for metals that is being undertaken.  The resolution to
this issue will therefore depend on the tax department's timing.  Tina Ward
is heading up this intiative.

Many thanks

Naomi

	Enron Capital & Trade Resources Corp.

	From:  Shona Wilson @ ENRON                           07/11/2000 16:52

To: Alan Aronowitz/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON, Justin
Boyd/LON/ECT@ECT, Naomi Connell/LON/ECT@ECT, Tim Davies/LON/ECT@ECT
cc: Sherri Griffin/Corp/Enron@Enron, Donna Lowry/HOU/ECT@ECT, Tim
Poullain-Patterson/LON/ECT@ECT

Subject: st louis and chicago reports

As requested, here are the reports for St. Louis and Chicago.  You will note
that you have been named as one of the owners - person responsible to fix the
finding.  Please call me if you have questions.

Tim - Will you liase with Sam and Achim?

Thanks,

Shona


---------------------- Forwarded by Larry May/Corp/Enron on 05/15/2001 12:04
PM ---------------------------

John Arnold@ECT
05/11/2001 11:53 AM
To: Mike Maggi/Corp/Enron@Enron, Larry May/Corp/Enron@Enron
cc:

Subject: PG&E Energy Trading

---------------------- Forwarded by John Arnold/HOU/ECT on 05/11/2001 11:53
AM ---------------------------
From: Jason R Williams/ENRON@enronXgate on 05/11/2001 10:50 AM
To: Phillip K Allen/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Hunter S
Shively/ENRON@enronXgate, Thomas A Martin/ENRON@enronXgate, John
Arnold/HOU/ECT@ECT
cc: William S Bradford/ENRON@enronXgate, Tanya Rohauer/ENRON@enronXgate,
Russell Diamond/ENRON@enronXgate
Subject: PG&E Energy Trading

Phillip, Scott, Hunter, Tom and John -

Just to reiterate the new trading guidelines on PG&E Energy Trading:

1.  Both financial and physical trading are approved, with a maximum tenor of
18 months

2.  Approved entities are: PG&E Energy Trading - Gas Corporation
    PG&E Energy Trading - Canada Corporation

    NO OTHER PG&E ENTITIES ARE APPROVED FOR TRADING

3.  Both EOL and OTC transactions are OK

4.  Please call Credit (ext. 31803) with details on every OTC transaction.
We need to track all new positions with PG&E Energy Trading on an ongoing
basis.  Please ask the traders and originators on your desks to notify us
with the details on any new transactions immediately upon execution.  For
large transactions (greater than 2 contracts/day or 5 BCF total), please call
for approval before transacting.

Thanks for your assistance; please call me (ext. 53923) or Russell Diamond
(ext. 57095) if you have any questions.

Jay


I am putting together that right now.  Thanks
Ben


Thanks, Mike.

I prefer the $15,000/clean slate option.  For comments on the proposed
decision and lobbying on this specific case, I'm willing to go straight
hourly basis, but I will continue to request fixed prices going foward.  And
worry not, it's not a Rick, Paul, Steffes issue.  I'm the headache.

All this said, and budget haggling aside, I'm sure you're aware that it's my
view that 1) you do fantastic work and 2) it's great to work with you.

Best,
Jeff

	MBD <MDay@GMSSR.com>
	10/10/2000 12:14 PM

		 To: "'Jeff.Dasovich@enron.com'" <Jeff.Dasovich@enron.com>
		 cc:
		 Subject: RE: Bills for Gas Restructuring Activities

Jeff:

 You are quite correct about the facts of the arrangement.  However, between
the previous fixed price deal we did on the alternative settlement  and this
most recent agreement, we have lost $10,000 plus $12,500 for a total of
$22,500 on this one case.  In both situations, our hours were required by
the expanded press of the work in the hearing, and the uncertainty that is
involved in estimating the cost of hearing work is always difficult to deal
with.  As you will no doubt recall, on our last arrangement, I provided an
estimate that was much closer to what we have acutally spent on the GRI
hearing and briefing to date, which you then proceeded to propose paring on
an essentially arbitrary basis.  I unable to plead anything other than brain
disfunction as to why I agreed with your numbers, which I knew would be too
low.  So here we are.   In response to your proposal, I offer two
suggestions, one: we should split the difference between the estimate and
the actuals to date. That would mean you would pay $19,761 of the current
balance.  On that basis, we would prepare written comments and lobby for the
proposed decision when it comes out at no additional cost.  Two:  you pay
only the $15,000 that you propose ($13,500 plus the extra $1500), but we
clean the slate and start over on the file and any written comments or
lobbying on the proposed decision are paid for on a straight hourly basis.
I think either solution is fair to both sides.  We continue to absorb
losses, but get some additional compensation, you pay a bit more, but no
more than is fair, and there is still substantial commercial value in the
outcome of the case to warrant the regulatory expense.  If you want me to
explain the situation to Paul or Rick or Steffes in order to assist in
justifying the additional expense, I would be more than happy to do so.
Thank you, and I mean this sincerely, for considering our request for a
revision of the billing arrangements.  I am also willing to get together
today and talk about this face to face if you want.  Mike

-----Original Message-----
From: Jeff.Dasovich@enron.com [mailto:Jeff.Dasovich@enron.com]
Sent: Tuesday, October 10, 2000 9:27 AM
To: MDay@GMSSR.com
Subject: Bills for Gas Restructuring Activities

Mike:

We'd talked about getting together to discuss the bills for the case.  We'd
originally agreed to a flat fee of $13, 500 (if memory serves) with a bonus
for coming in under the cap.  You've sent me bills (as of August 17
according to my records) for over $25,000.  As you recall, we had a very
lengthy discussion regarding the magnitude of the work associated with the
hearings and associated briefs.  I stressed that $13.5 was what I'd spend
and that we'd have to do the best we could within that constraint, which is
why I pressed for a flat fee arrangement at the outset.  With that in mind,
I believe that it's important to honor the arrangement.  However, in light
of the particular circumstances in this case, I'm willing to exceed the
previous arrangement for a total of $15,000, but can't go above that.  If
you'd like to discuss it further, I'd be happy to talk about it.  Let me
know.

Best,
Jeff


Shooting to get you the balance of the info by noon.  Glad to hear it's
useful.  Hang in there.

Best,
Jeff

	Kari Dohn <Kari.Dohn@GOV.CA.GOV>
	01/03/2001 12:43 PM

		 To: "'Jeff.Dasovich@enron.com'" <Jeff.Dasovich@enron.com>
		 cc:
		 Subject: RE: Follow up materials

Jeff, thanks so much!  Don't know how I missed this email last night.
Really appreciate it, and look forward to receiving the remaining material.
The Governor referenced the nordpool last night in a session, so this will
make our research alot easier, at least on that one!!!

-----Original Message-----
From: Jeff.Dasovich@enron.com [mailto:Jeff.Dasovich@enron.com]
Sent: Tuesday, January 02, 2001 6:22 PM
To: kari.dohn@gov.ca.gov
Subject: Follow up materials

Greetings Kari:

Attached is follow-up information from the meeting that the Governor and
you had with Ken Lay and Steve Kean last Thursday.  Tomorrow morning I will
email three additional pieces of information:

   Our specific comments on the proposals that the Governor raised at the
   meeting.
   More details on the "demand buy-down" concept.
   Information on Norway's version of the ISO, "Nord Pool."

If there's anything you need, don't hesitate to contact me at 415.782.7822.

Happy New Year.

Best,
Jeff

(See attached file: Follow up to Gov Davis-Ken Lay meeting0102.doc)


Title: One Tight Winter Peak Remains
URL(s):

http://www20.cera.com/eprofile?u=35&m=2760;

***********************************************************************

WESTERN ENERGY--WINTER DEMAND PEAKS NOT EXPECTED TO RESULT IN PRICE SPIKES OR RELIABILITY PROBLEMS

Building natural gas and power supplies are providing a cushion for the western
energy markets for this winter. Although seasonal gas and power demand spikes
will again push prices higher, this winter will not look like the winter of
2000/01. Unlike during the record high gas and power prices and blackouts last
year winter, reduced demand, increased gas storage levels, and new gas and
power supplies will significantly temper prices and significantly reduce the
risk of supply disruptions.

*  A supply build of 300 million cubic feet (MMcf) per day in the Rockies and
900 MMcf in western Canada is meeting with declining demand in the West

*  Fourth quarter power demand is expected to be 13 percent below levels last
year, while over 5,000 megawatts of new supply has been added this year

*  Only severe cold weather, prolonged drought, or a supply disruption could
produce a reliability problem this winter

**end**

Follow above URL for complete CERA Monthly Briefing (10 pages).

E-mail Category: Monthly Briefing
CERA Knowledge Area(s): Western Energy

***********************************************************************
***********************************************************************
CERA's Autumn 2001 Roundtable event dates and agendas
are now available at http://www20.cera.com/event
***********************************************************************

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Ravi:

Samer and I met this morning with Sara Ledbetter.   She is starting the
groundwork for setting up a storage book and a streaming book for tracking
the e-powered products positions.    They are having a meeting on next
Tuesday to discuss this.  Samer will attend.    This is a good opportunity to
start compiling the data that we will need for some of John Grieblings
questions.

--stinson

p.s.   Sara also asked if we knew anyone who would be interested in managing
the storage book.  Any suggestions?


FYI
---------------------- Forwarded by Chris Germany/HOU/ECT on 12/23/99 10:09
AM ---------------------------

jwhodge@columbiaenergygroup.com on 12/23/99 08:45:51 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Storage Questions

Here are the answers to your questions:

1.  Cove Point LNG is a peaking facility.  There are three 10-day peaking
contracts for 50,000 Dthd each or a total of 150,000 Dthd of peaking
capability
by delivery from the Cove Point pipeline into the east side of TCO's system.
The gas can also go directly into Washington Gas Light or into PEPCO's Chalk
Point electric generation facility.  The variable transport cost on Cove Point
LNG is less than $0.005/Dth.  This gas was hedged by CES as baseload
withdrawal
during the January 1999, but can be withdrawn any time before the end of the
contracts which is 2/29/2000.

2.  The TCO storage is the CES retail storage.  Enron's contract with CES
retail contains the withdrawal schedule for this storage.  I would work with
Ed
McMichael's group who should be getting this schedule from CES Retail.

cgerman@ect.enron.com on 12/23/99 08:22:40 AM
Please respond to cgerman@ect.enron.com

To: Scott Goodell [NOTES.sgoodel]@LMSOV
cc: John Hodge/CES/ColumbiaGas@COLUMBIAGAS, djunek@ect.enron.com
Subject: Storage Questions

I have 2 storage questions for now.

1.  Cove Point LNG - it's my understanding that this is a LNG peaking
facility.
The current balance is 1,500,000 dth.  Did you have a withdrawal schedule or
were you going to use this as peaking gas?

2.  TCO contract 63304 - has capacity of 7 BCF, and I think your current
storage
balance is about 5 BCF.  What is your withdrawal schedule for Jan??

thanks


John and Krishna,

I am sending you an outline of a conference at Stanford on topics related to
demand-side pricing and management in the power markets.

Please, let me know if you are personally interested and who else
in your respective  organizations would like to attend.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/19/2001
08:10 AM ---------------------------

Hill Huntington <hillh@stanford.edu> on 03/15/2001 05:26:55 PM
To: vkamins@enron.com
cc:
Subject: RTP project

Vince,

Targetted conference date is Th-F June 21-22 at Stanford.  Enclosed in the
recent revision to what I sent before.

Great to meet you,
Hill

 - retail notes.rtf
*******************************************************************
Hillard G. Huntington
EMF - an international forum on
energy and environmental markets Voice:  (650) 723-1050
408 Terman Center    Fax:    (650) 725-5362
Stanford University   Email:  hillh@stanford.edu
Stanford, CA  94305-4026

EMF Website: http://www.stanford.edu/group/EMF/