fyi calpine announces new texas power sales contracts earningsvisibili ty enhanced original message stein neil mailto neil stein csfb com sent wednesday july 18 2001 12 31 pm undisclosed recipients subject cpn announces new texas power sales contracts earningsvisibili ty enhanced good afternoon attached please find recent fc note calpine summary 1 reiterate strong buy rating calpine last 2 days company announced number significant power sales agreements associated texas capacity 2 july 17 cpn announced entered 2 agreements reliant energy services provide 1 000 mw power 5 year period july 18 cpn announced agreement shell oil provide 3 000 mw power also 5 year period contracts commence january 1 2002 coincides beginning retail competition texas 3 details relating pricing contract structure disclosed 4 texas cpn currently owns 2 337 mw capacity operation 3 786 mw construction 1 007 mw development 5 importantly result announcements recent agreements calpine texas capacity 85 sold forward next 2 years overall hedged position gives us additional comfort cpn ability meet exceed 2001 2003 eps estimates 1 94 2 35 3 08 respectively 6 investors expressed concern calpine exposure potential overbuilding texas market cpn recent contract announcements reassure investors company actively taking steps manage minimize market price risk region regards neil stein 212 325 4217 bryan sifert 212 325 3906 message named person use may contain confidential proprietary legally privileged information confidentiality privilege waived lost mistransmission receive message error please immediately delete copies system destroy hard copies notify sender must directly indirectly use disclose distribute print copy part message intended recipient credit suisse group subsidiaries reserve right monitor e mail communications networks views expressed message individual sender except message states otherwise sender authorised state views entity unless otherwise stated pricing information given message indicative subject change constitute offer deal price quoted reference terms executed transactions treated preliminary subject formal written confirmation