 ,
 Mark

We get a much different story from our appointed arbitrator for PAN NAT.  Although the main arbitrator did not do exactly what we wanted he had strong words to Duke that they had no support for their position.  We would like to ignore their pleas to settle because they have been making very unreasonable settlement offers.  
As we understand it arbitration starts July 1.  I'll talk to you more next week.  If you want an update prior call Richard Sanders.

John
mark.frevert@enron.com