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Bonds Issue Date Maturity Issuer Amount ($ mil) Offer Price Type of Security Coupon (%) Moody's S&P Bookrunner(s) 11/08/01 11/15/06 FirstEnergy 1,000 99.888 Notes 5.5 Baa2 BBB- BARCLAYS/MORGAN STANLEY/SSB 11/08/01 11/15/11 FirstEnergy 1,500 99.651 Notes 6.45 Baa2 BBB- BARCLAYS/MORGAN STANLEY/SSB 11/08/01 11/15/31 FirstEnergy 1,500 99.832 Notes 7.375 Baa2 BBB- BARCLAYS/MORGAN STANLEY/SSB 11/08/01 - Gulf Power Capital Trust III 30 25 Trust Pfd Sec's - a3 BBB+ SSB 11/08/01 11/14/08 IPALCO Enterprises 375 100 Notes 7.375 Baa1 BBB- LEHMAN 11/08/01 11/14/11 IPALCO Enterprises 375 100 Notes 7.625 Baa1 BBB- LEHMAN 11/09/01 12/01/11 Alliant Energy Resources 300 99.838 Notes 7 Baa1 BBB+ J.P. MORGAN/MERRILL 11/13/01 05/12/02 Coelce(Investluz) 57.1 Market Promissory Nts Zero - - HSBC/BANK BOSTON/BBVA 11/13/01 12/01/08 Wisconsin Energy 300 99.664 Notes 5.5 A2 A- BofA/BEAR STEARNS 11/14/01 11/25/11 Chugoku Electric Power 246.5 Market Bonds 1.38 NA NA NOMURA/MORGAN STANLEY 11/14/01 12/16/03 Virginia Electric & Power 120 100 MTNs Floats A3 A- LEHMAN M&A Date Announced Date Effective Target Target Country Acquiror Acquiror Advisors Acquiror Country Value ($mil) 11/08/01 - Tractebel Belgium Suez Lyonnaise des Eaux Morgan Stanley France 192.132 11/09/01 - Baltic Cable Sweden Statkraft - Norway - 11/09/01 11/03/01 China Merchants Power Supply China China Merchants Shekou - China - 11/12/01 - Gulf Electronic Thailand EPDC - Japan 28.575 11/13/01 - "Energieversorg Gera,Kraft Gera" Germany Electrabel Deutschland - Germany 38.708 Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

Overview

Chivor, a subsidiary of AES and Colombia's fourth largest generator, plans to issue approximately $150-$200 million in peso-denominated bonds within the next two weeks to avoid defaulting on a $400 million syndicated loan that matures at year-end.

AES and its group of lead banks were looking to seal funding of the $572 million Ras Lafan project loan last Friday and hope to launch retail syndication by the end of the month.

Bank of Scotland is looking at financing power projects in the Middle East for the first time to exploit increased activity in the region. The Edinburgh-based bank presently provides non-recourse power project financing in the U.K., the U.S., mainland Europe and Australia, but it is considering adding the Middle East to its remit in the medium-term, says Neil Rutherford, associate director in the project and specialised industries finance group in Edinburgh. It is formulating its business plan now, which will likely take two months to complete. Another BoS official notes that its greater ambition is in part driven by its recent merger with the Halifax Group.

Following is a directory of upcoming Middle Eastern power projects. To report new projects, please call Will Ainger, Managing Editor, at (44-20) 7303-1735 or email: wainger@euromoneyplc.com

Following is a directory of ongoing generation asset sales. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. To report new auctions or changes in the status of a sale, please call Will Ainger, managing editor, at (44-20) 7303-1735 or e-mail wainger@euromoneyplc.com. Seller Plants Location MW Plant Type Advisor Status American Electric Power/ Northeastern units 3 & 4 Okla. 300 Coal N/A Reviewing sale strategies. Central and Southwest Corp. Lon C. Hill Texas 546 Gas Nueces Bay Texas 559 Gas Ennis S. Joslin Texas 249 Gas ADWEA Um Al Nar Abu Dhabi 1,100 Gas & Water Desalination CSFB Expected to send out RFPs in December. Central Hudson Gas & Electric Syracuse N.Y. 100 CHP Navigant Final Bids due by late Nov. Beaver falls N.Y. 100 CHP Niagara falls N.Y. 52 Coal CMS Energy Loy Yang Melbourne, Australia 2,000 Coal Not chosen Announced intention to sell. DPL All plants Ohio 3,500 N/A Morgan Stanley Edison Mission Fiddler's Ferry U.K. 1,440 Coal Goldman Sachs Examining possible sale. Ferrybridge U.K. 1,900 Coal Enel Eurogen Italy 7,008 Various - Having sold Elettrogen it will sell one of two Interpower Italy 2,611 Various - other generation portfolios shortly. IVO Energy Brigg U.K. 240 Gas BNP Paribas Preparing information memo. South Humber U.K. 1,240 Gas Grangemouth*** U.K. 130 Gas Edenderry Ireland 120 Peat Independent Energy Various U.K. 130 N/A KPMG KPMG is handling the asset sale after Independent Energy went into receivership. MARCOR Remediation - Calif. 5.7 Wood - - (A broker acting for an undisclosed seller) Niagara Mohawk Power Nine Mile Point 1 N.Y. 1,614 Nuclear N/A Awaiting bids. Nine Mile Point 2 N.Y. 1,140 Nuclear N/A North Atlantic Energy Seabrook* N.H. 408 Nuclear N/A Must be sold by Dec. 2003. Oman (Ministry of Housing, Rusail Oman 730 Gas - - Electricity & Water) Ghubratt Oman 507 CHP Wad Al-Jazzi Oman 350 Gas Ontario Power Generation Lennox Ontario 2,140 Oil, gas Merrill Lynch & Expects to sell Lennox and Lakeview shortly. Lakeview Ontario 1,140 Coal Scotia Capital- Atikokan Ontario 215 Coal Thunder Bay Ontario 310 Coal Mississagi River Ontario 490 Hydro Pacific Gas & Electric 68 Plants Calif. 3,800 Hydro Morgan Stanley Awaiting PUC approval. Expect sale to close shortly. Powergen Powergen CHP Ltd. U.K. 600 CHP Dresdner Hopes to sell business by year-end. Public Service Co. of New Merrimack N.H. 475.8 Coal J.P. Morgan Subject to approval for rate settlement by PUC Hampshire (Northeast Utilities) Newington N.H. 415 Oil/gas and state legislature. Schiller N.H. 146.6 Oil/gas Lost Nation N.H. 19.1 Diesel Merrimack N.H. 42.2 Diesel Schiller N.H. 18 Diesel Public Service Co. of New White Lake N.H. 23 Diesel Subject to approval for rate settlement by PUC Hampshire (Northeast Utilities) Amoskeag N.H. 17.5 Hydro and state legislature. Ayers Island N.H. 9.1 Hydro Canaan Vt. 1.1 Hydro Eastman Falls N.H. 6.5 Hydro Garvins Falls N.H. 12.1 Hydro Gorham N.H. 2.1 Hydro Hoolsett N.H. 1.95 Hydro Jackman N.H. 3.55 Hydro Smith N.H. 14.2 Hydro ScottishPower Hazelwood Victoria, Australia 1,600 Coal CSFB Final bids due this summer. TXU Lake Creek Texas 323 Gas Merrill Lynch Reviewing sales strategy. Tradinghouse Texas 1,340 River Crest Texas 110 Mountain Creek Texas 893 Parkdale Texas 327 North Main Texas 123 Monticello Texas 1,900 Coal Merrill Lynch Is looking to sell an undisclosed number of its Martin Lake Texas 2,250 coal assets. Big Brown Texas 1,150 Sandow Texas 545 TXU Europe West Burton U.K. 2,012 Coal Morgan Stanley It sold one plant, to International Power and two to Centrica. High Marnham U.K. 945 Coal Ironbridge U.K. 970 Coal Drakelow U.K. 976 Coal Wisconsin Energy Bridgeport Conn. 1,100 (combined) - - Has put up for sale following collaspe New Haven Conn. 1,100 (combined) of NRG deal. * North Atlantic Energy owns 34.8% of Seabrook *** Fortum owns 75% of Grangemouth. Mitsubishi owns the remainder.

Both Reliant Resources and Enel are set to announce this week shortlisted bidders for generation assets they are selling in the Netherlands and Italy, respectively.

Bonds Issue Date Maturity Issuer Amount ($ mil) Offer Price Type of Security Coupon (%) Moody's S&P Bookrunner(s) 10/25/01 10/25/03 CA La Electricidad de Caracas 9.1 Market CP Varies - - BANCO PRO V 10/26/01 08/10/06 Cia Energetica de Brasilia 46.3 Market Debentures Floats Aa1 - BSBRA 10/29/01 10/29/03 CA La Electricidad de Caracas 15.6 Market CP Varies - - VENEZOLANO 10/29/01 04/27/02 Edelnor 8.3 100 Obligations 6.924 - - N/A 10/29/01 11/25/04 Shikoku Electric Power 82.0 100 Bonds 0.3 N/A N/A NIKKO SSB 10/30/01 11/08/04 Iberdrola International 45.2 100 FRNs Floats A1 AA- MORGAN STANLEY 10/30/01 11/15/04 KEPCO(South Korea) 204.9 100 Fxd/Straight Bd 1.18 Baa3 BBB BARCAP/MERRILL M&A Date Announced Date Effective Target Name Target Country Acquiror Name Acquiror Advisors Acquiror Country Value of Deal ($mil) 10/25/01 10/25/01 Amata Natural Gas Distribution Thailand Amata - Thailand - 10/25/01 - Michigan Electric Transmission U.S. Trans Elect Deutsche Banc Alex Brown, CIBC World Markets U.S. 290.0 10/25/01 10/25/01 Union Power Development Thailand Hong Kong Electric - Hong Kong 89.74 10/29/01 - Stadtwerke Hagen Germany Elektromark Kommunales AG - Germany 159.515 10/29/01 10/29/01 Union Power Development Thailand Chubu Electric Power - Japan - 10/29/01 10/29/01 Union Power Development Thailand Toyota Tsushu - Japan - 10/30/01 10/30/01 Desarrollos Eolicos Spain Nuon Lehman Brothers Netherlands 152.951 Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

AES plans to arrange a $900 million non-recourse and recourse bank loan to fund its $1.37 billion hostile takeover bid for Venezuelan telecommunications concern Compania Anonima Nacional de Telefonos de Venezuela (CANTV).