Subject: NewPower
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked], [email-masked], [email-masked]
Date: Wed, 22 Aug 2001 21:11:33 -0700 (PDT)

Mark, The word on the street is that the NewPower folks are getting further in trouble (ie) strange trading activity, etc. Looks and smells a little like the old EES.

Couple of opps:
	- get another shareholder on-side and demand an Enron led audit to confirm financial and operating health;
	- followed up by hostile exit of mgt team if significant issues arise.

Issues:
	- obviously pushes us into another level of complicity/fiduciary in a blow up or bankruptcy not unlike the issues we faced with Kafus et al; however, given our continued interest a significant control issue could result in a significant acceleration of a write-off of our existing position plus any outstanding credit.

I would recommend we force the management team to submit to a detailed audit as a part of a united shareholder iniative - Lets discuss.

Rick Buy, what is our current credit position?

Greg/John, do you have a view on this one?

Rick Causey, we  probably need a more "permanent solution" ot the NewPower issue.

Regards
Delainey