Realistic and Prudent Business PlanHighlights of Business Plan

• Capital Budget

  • $1.9 billion in 2002
  • $5 billion over 5-year planning horizon

• Refocused Development Plan

  • Announced North American development reduced to 5,700 MW
  • Reduced spending in Energy Capital and Gas Production Co.
  • Exiting European marketing and risk management
  • Cost cutting initiatives reduce expenses by $75 million in 2002 and $150 million in 2003

• No need to return to capital markets for new capital in planning horizon

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