Subject: California Rate Exposure
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked], [email-masked]
Date: Tue, 21 Aug 2001 15:27:58 -0700 (PDT)

Michael,

Jim has asked Jennifer and me to estimate the potential exposure (worst case) to the Company's book position for DA customers in California.  Starting from the  model you and Jeff developed we have added other possible categories of charges allowed by existing regulations.

We would appreciate if you could please review the attached and provide us with any feedback.  If available we would like to call you Wednesday morning to discuss.