Link to www.ze.com  [IMAGE]  [IMAGE]  [IMAGE] [IMAGE]   [IMAGE] [IMAGE]   Critical Trade Information on a Timely Basis [IMAGE] 	
   [IMAGE]Price  Views - Market Views - Credit Views      An Unforgiving Market Deciphering and responding to elements driving the changing competitive  power and natural gas markets is an inordinately complex task. The  challenge has proven to be too difficult for even some of the largest  players; those which have appeared to be the most stable and capable.  The plights of Enron, the California Power Exchange, SDG&E and  PG&E highlight the difficulties that sophisticated market participants  and regulators face when trying to manage change. The Enron collapse,  in particular, should drive home the extent of exposure that interconnected  counterparties and market participants face.  The market is impartial and unforgiving. From the biggest to  the smallest; the public and the private, all face similar risks  and have similar needs. The major ratings agencies and the financial  community have begun to focus heavily on the risks and information  requirements of the power industry. We, as active market participants,  must also be concerned about these risks, taking steps to identify,  measure and mitigate them as much as possible. In most cases,  the difference between success and failure depends on whether  you have access to the right data and are able to use it in the  right way in a timely manner.   Maintaining a competitive advantage and surviving  the volatile swings of transacting in competitive energy markets  requires having access to, and being able to interpret and respond  to, the right data before such information becomes commonly obvious.  Hindsight is 20/20 - success in evolving markets is achieved through  developing the capability and foresight to take preventative and  proactive steps.  History of Providing Clients with the Right Tools ZE PowerGroup has a long history of providing its clients with  the strategic support they need to navigate through uncertain  markets. In response to high market demand, we have developed  a market-monitoring product that provides corporations the market  intelligence, direction, forward price views and credit data needed  to support trading activities.  We realize that the cost, expertise and infrastructure required  to develop timely data systems and analytical intelligence can  be prohibitive on an individual basis. We think that we can leverage  our expertise and considerable investment in these systems with  a diverse group of clients and hence, greatly reduce individual  subscriber costs. Decision making in current markets is not easy,  it requires rigorous information extraction, sophisticated data  analysis and application of considerable expert judgment (all  difficult, costly and time consuming endeavors)   Price, Market and Credit View Subscription  Service We believe the service described below provides cost effective  and timely access to information critical to portfolio management,  credit risk management and term trading.  The service will include one ZE Area and the  following,  1. Initial report  Regional background information     Description of the ZE Forward Views development  philosophy and methodology     Description of the credit review system and  ratings methodology        2. Mid-term views (eighteen months);  includes     Monthly average prices and LLH/HLH  differentials    Provide probabilistically derived mean  price view and associated bands of uncertainty (5%,  25%, 75% 95%)    Provided for client selected electric  and gas hubs    Detailed explanation of assumptions    Tables and Graphs provided in user  friendly excel sheets    Updated monthly    3. Intermediate-term views (five year);  includes     Monthly average prices for sixty months  and LLH/HLH differentials    Provide probabilistically derived mean  price view and associated bands of uncertainty (5%,  25%, 75% 95%)    Provided for client selected electric  and gas hubs    Detailed explanation of assumptions    Tables and Graphs provided in user  friendly excel sheets    Updated quarterly     4. Long-term views (twenty year);  includes     Yearly average prices for twenty years    Provide probabilistically derived mean  price view and associated bands of uncertainty (5%,  25%, 75% 95%)    Provided for client selected electric  and gas hubs    Detailed explanation of assumptions    Tables and Graphs provided in user  friendly excel sheets    Updated semi-annually    5. Executive market views:     Two page regional review which provides  key perspectives on market events    Delivered monthly     [IMAGE]     [IMAGE]      [IMAGE]  6. Counter-party credit views     ZE PowerGroup uses its software and expertise,  combined with financial and market analysis to develop client  specific credit reviews of counter-parties.     Clients can specify the counterparties that  they wish to have reviewed.    Counter-party reviews are updated monthly;  includes updating credit review rating, updating of trade  limits and reporting of assumptions/changes from last period        Contact  To download a PDF brochure with additional information click  here .   To speak to someone directly regarding the service,  pricing or product customization please contact:    Paul Seo Marketing Manager   paul@ze.com  , 604-244-1469 or   Aiman El-Ramly Vice President Marketing  and Business Development aiman@ze.com   , 604-244-1654.     General information about ZE PowerGroup can be  found at www.ze.com .     [IMAGE] [IMAGE] [IMAGE] 	
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