Re: CalPX - Revisions to SCE arbitration demand letter ,
 This is being sent on behalf of Bryant Delgadillo.

It appears that some of you did not receive the attached the first time.

Dear Committee Member,

Some minor revisions were made to the draft arbitration demand letter which
was circulated last week.  Please note the following changes:

Page 1, 1st Paragraph:

"Southern California Edison ("SCE") has failed to pay more than $800
million for electricity that it contracted to purchase through the
California Power Exchange Corporation ("PX").  SCE and its parent Edison
International have admitted owing this debt in numerous public filings with
the Securities and Exchange Commission.  Yet, SCE publicly announced that
it owes nothing.  SCE has refused all efforts to discuss payment and, in
recent meetings responded with threats of litigation.  The PX has been left
with no alternative except to commence arbitration to establish the amount
due and to collect the debt."

Page 2, 4th Paragraph:
"As a result of defaults by SCE and the largest investor-owned utility PG&E
Corp., the PX filed bankruptcy pursuant to Chapter 11 on March 9, 2001,
case No. LA-01-16577-ES.  Pursuant to order of the bankruptcy court,
entered on June 29, 2001, the Official Committee of Participant Creditors
of the PX was authorized to prosecute this action in the name of the PX.
The PX is pursuing this arbitration for the benefit of its participants and
the PX does not intend to preclude, waive or prejudice any effort by any
participant that may choose to pursue its own claim on its own behalf."

I also have attached a revised version for your convenience.

(See attached file: 23052653.pdf)

 - 23052653.pdf
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