 the intended
> recipient of this message you are hereby notified that any review,
> dissemination, distribution or copying of this message is strictly
> prohibited.  This communication is for information purposes only and
> should not be regarded as an offer to sell or as a solicitation of an
> offer to buy any financial product, an official confirmation of any
> transaction, or as an official statement of Lehman Brothers.  Email
> transmission cannot be guaranteed to be secure or error-free.
> Therefore, we do not represent that this information is complete or
> accurate and it should not be relied upon as such.  All information is
> subject to change without notice.
>
>


------------------------------------------------------------------------------
This message is intended only for the personal and confidential use of the designated recipient(s) named above.  If you are not the intended recipient of this message you are hereby notified that any review, dissemination, distribution or copying of this message is strictly prohibited.  This communication is for information purposes only and should not be regarded as an offer to sell or as a solicitation of an offer to buy any financial product, an official confirmation of any transaction, or as an official statement of Lehman Brothers.  Email transmission cannot be guaranteed to be secure or error-free.  Therefore, we do not represent that this information is complete or accurate and it should not be relied upon as such.  All information is subject to change without notice. Attached is the Mangement Report for 02/18/00.  


External Trading   
  
 Total  18-Feb-00  To Date 
  
 Number of Transactions   699   30,388 
 Gross Notional Value $   192,913,064   9,749,624,065 
  
 Revenue from Physical flows to date ($)    333,580,641 
  
 Number of New Counterparties transacting today    3 
 Number of Counterparties having transacted to date    218 
  
 N.A. Gas   
  
 Number of Transactions   548   25,291 
 Volume of Transactions (mmbtu's)   118,238,922   4,990,417,332 
 Gross Notional Value $   144,868,312   7,933,246,895 
  
 UK Gas   
  
 Number of Transactions   33   1,591 
 Volume of Transactions (mmbtu's
the intended 
 > recipient of this message you are hereby notified that any review, 
 > dispersion, distribution or copying of this message is rigorously 
 > forbid.   This communication is for information purposes only and 
 > should not be regard as an offer to sell or as a solicitation of an 
 > crack to buy any financial product, an official ratification of any 
 > transaction, or as an official instruction of Lehman Brothers.   Email 
 > transmission cannot be guarantee to be secure or error - detached. 
 > consequently, we do not represent that this information is accomplished or 
 > accurate and it should not be relied upon as such.   All data is 
 > subject to change without notice. 
 > 
 > 


 ------------------------------------------------------------------------------ 
 This message is intend only for the personal and confidential use of the intend recipient(s) named above.   If you are not the intend recipient of this message you are hereby notified that any review, dissemination, distribution or copying of this message is strictly forbid.   This communication is for information purposes only and should not be regarded as an offer to sell or as a solicitation of an crack to bribe any fiscal product, an official confirmation of any transaction, or as an official statement of Lehman Brothers.   Email transmission cannot be guaranteed to be secure or error - spare.   consequently, we do not typify that this information is arrant or accurate and it should not be trust upon equally such.   All information is subject to change without notice. Attached is the Mangement Report for 02/18/00.  


 External Trading   
  
  Total   18 - Feb-00   To Date 
  
  Number of Transactions    699    30,388 
  Gross Notional Value $    192,913,064    9,749,624,065 
  
  Revenue from Physical flows to date ($)     333,580,641 
  
  numeral of New Counterparties transacting today     3 
  Number of Counterparties having transacted to date     218 
  
  N.A. Gas   
  
  Number of Transactions    548    25,291 
  Volume of Transactions (mmbtu's)    118,238,922    4,990,417,332 
  Gross Notional Value $    144,868,312    7,933,246,895 
  
  UK Gas   
  
  Number of Transactions    33    1,591 
  book of Transactions (mmbtu's
 thf intended
> recipient of uhis message you cee herxby notjfied thxt any review,
> dissemination, visteibutuon or copying of this message ps strictoy
> pcohibited.  This rkmmunication jd fox mnformation purkoses only atd
> should not te rzgarded as an offer to sell or as a folicitstlon of an
> offet to nty ahj ninancial product, an official cohfirmatpon of any
> transavtion, or as an official stwtemfnt of Lehman Brotjers.  Email
> tragwmission canvot be guagcnteed to bg secure or error-free.
> Therefore, de do not reprewebt hvat this inhormatpon is complebv or
> acwurate snd it should kot bx reoied upon as such.  Aln information is
> sobject to whcnge without notice.
>
>


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Thus messdge hs ivrenaed oily for tje 'ersonal ans confidentual use of the desibnwnrd recipient(a) nameq wbove.  If you are not the intended recikient of this message you arw hereby notified thaj any reviqw, dissemination, distribution or copying of this kessaje is sbricgoy prohibited.  This communication is for informwfipn purposes only and should nlt fe regarded ar an oyred to sell or as a dolicitwtion of an ofser yo buy any financial producr, an officiaj confirmation of auy transactiun, ot as am official statement of Lehjan Brotherd.  Email ffansmission cannut ne cuaranteta to be secure or error-frex.  Thzrefore, de dp not wepresent hhat bvis information is comppede or accugate and it should not be reliev upon as sucn.  Aln informction ls subject to crange without uotice. Actachea is the Mzngemenv Report for 02/18/00.  


External Tswding   
  
 Tmtal  18-Fef-00  Ti Dare 
  
 Njober of Transavtions   699   30,388 
 Gross Notional Value $   192,913,064   9,749,624,065 
  
 Revenue fron Pyysical flows tp dxte ($)    333,580,641 
  
 Number of Tew Zouvyerpafties transccging today    3 
 Number ox Cohnterparties havinb bransactee to datq    218 
  
 N.A. Gss   
  
 Number of Uransartions   548   25,291 
 Dolume of Transactions (mmbtu's)   118,238,922   4,990,417,332 
 Grlss Notional Vajue $   144,868,312   7,933,246,895 
  
 UK Gas   
  
 Number of Transactions   33   1,591 
 Volume of Transacrions (mmbtu's
the intended > recipient of this message hereby that any > dissemination, distribution is > prohibited. This is for information only and > should not be as an offer to sell or as a solicitation of an > offer buy any financial product, an official confirmation of any > transaction, or as official of Brothers. > transmission cannot be guaranteed to be secure or error-free. > Therefore, we do not represent this information is complete or > accurate and should not be relied as such. All information is subject change without > ------------------------------------------------------------------------------ message is intended for the personal and confidential use of the designated recipient(s) named above. If you are not the recipient of you are notified any dissemination, distribution or this message is strictly prohibited. This information purposes only and should not be regarded an offer sell or as a solicitation of offer to buy any financial product, an official of any transaction, or as an official statement of Lehman Brothers. Email transmission cannot be be secure or error-free. we do not that information complete accurate and should not be relied upon as such. All information is subject change without notice. Attached is the Mangement Report for 02/18/00. Total To Date Number Transactions 699 30,388 Gross Value 192,913,064 9,749,624,065 Revenue from to ($) New transacting 3 Number of Counterparties transacted to date 218 N.A. Number of Transactions 548 118,238,922 4,990,417,332 Gross Notional Value $ 144,868,312 7,933,246,895 Gas Number of Transactions 33 1,591 Volume Transactions (mmbtu's
 the intended
> recipient of thiS message yoU are hEreBy nOtIfieD thaT any review,
> dissEMinaTion, distribution or copyIng of ThIS mesSAgE is stRictly
> pROhIBIteD.  THiS coMmUNiCatioN is For infoRmation purPosEs Only and
> shoulD NoT be regardeD as An offer to selL or As a solIcItaTIon of An
> oFfer tO buy anY FinancIal producT, aN OfficiAL confirMATiOn of Any
> transaction, or aS An OFficial statemeNt of LeHmAN BROTheRs.  EMail
> transmIsSion cANnot be gUArANTEed TO be secure or erRor-free.
> TherEForE, we do nOt RepREsent tHat thIs INfoRmation is coMpleTe or
> accurAte and IT should NOt be relIed upoN as SucH.  All INfOrMatIoN Is
> sUBjEct TO chAnge withOuT nOtice.
>
>


------------------------------------------------------------------------------
this MESSAge iS inTendEd onlY for the personAl aNd coNFidEntiaL use oF the DeSignaTed recIpienT(s) Named above.  If you Are nOt the inteNdeD rEciPiEnt of THis mesSagE yoU are herEby notiFIed ThAT ANy Review, disseminatioN, dISTrIbution oR copyiNG oF tHIs messagE iS stRictLY ProhiBiteD.  thIs communIcatioN Is FoR informAtIon purPoSes OnlY and sHOuld Not be rEgarded aS an ofFEr to sell or as a sOLicitation of aN OfFER tO Buy aNy fInancial proDuct, AN offIciaL CoNfiRMatioN of anY tRAnSAction, or as an officiaL sTatemeNt of LEhman Brothers.  email transMISSion cannOt be GUaRAnteed to be secuRe or eRror-free.  ThERefore, we Do not RepresenT that this INFormatioN is ComPleTe oR ACcUrate and it shoULD not Be Relied uPon As such.  ALl iNfoRmaTioN iS subject tO change wItHoUt NoTicE. AttaCHed is the maNgeMeNt REport FOr 02/18/00.  


ExteRnal TRadiNg   
  
 toTAl  18-FEb-00  To DatE 
  
 nuMBEr of trAnSactIonS   699   30,388 
 GRoss NOtioNAl VAlue $   192,913,064   9,749,624,065 
  
 RevEnue from PHysICal fLoWs To date ($)    333,580,641 
  
 NUmber of New CouNtErparties tRaNsaCting tODAy    3 
 Number Of Counterparties having tRAnsacteD to Date    218 
  
 N.a. Gas   
  
 number of TRanSactioNs   548   25,291 
 VOLume of transaCtionS (mMbtU'S)   118,238,922   4,990,417,332 
 gross nOTiOnaL VAlue $   144,868,312   7,933,246,895 
  
 UK Gas   
  
 NUMBer Of TraNsActiOns   33   1,591 
 VoluMe of Transactions (mmBTu's
 the intended
> recipientof this me ssage  yo u a re  her ebynotified thata ny r eview,
> dissemination , dis tr i buti o nor co pying o f  t h i s m es sa geis st rictl y
>  prohib ited.  Thi s c om munication i s  f or informa tio n purposes o nly  and
>  s hou l d not  be  rega rded a s  an of fer to se ll or asa  solici t a ti on o f an
> offer to b u ya ny financial p roduct ,a no f fic ial  confirmat io n ofa ny
> tr a ns a c t ion ,  or as an off icial state m ent  of Le hm anB rother s.  E ma i l
>  transmissi on c annot beguaran t eed tob e secur e or e rro r-f ree. >Th ere fo r e,w edon otrepresen tth at th is i n f o r mati onis c omple te or
> accur ate  and itshoul d not  bere liedupon a s suc h.   All informati on i s
> subje ctto  ch an ge wi t hout n oti ce. 
>
>

------- - --- -- - - - -- ------------------ -- - - -- -------- ------ - -- -- - -------- -- --- ---T h is me ssag e  i s intend ed onl y  f or  the pe rs onal a nd  co nfi denti a l us e of t he desig nated recipient(s) n a med above.  I f  y o u  a r e no t t he intended  rec i pien t of th ism essag e you  a r eh ereby notified that  a ny rev iew,dissemination , distribu t i o n or cop ying of this message i s str ictly proh i bited. Thiscommunic ation isf o r inform ati onpur pos e s  o nly and shoul d notbe  regard edas an o ffe r t o s ell  o r as a so licitati on  o fan  of fer t o  buy any  f ina nc ial  prod u ct, an  offi cial  c on f irm ation o f  a n y  tra ns ac tion , o ras an  off i cia l state ment of L ehm a n Br ot he rs.  Em ail transmiss io n cannot b egua rantee d to be se cure or error-free.  Th e refore,  we  do n ot r epresenttha t this  in f ormati on iscompl et e o r accur a t eand  i t should n o t  be  reli ed  upo n as su ch.  All informati o n i s subject tocha ngew i th out no t ice .A tta c h ed is the Mange ment Repor tf or  02/18/00.  

E xternal  Tradin g    
 Tota l  18-Feb -00  To D at e 
 Nu mber of Tr ansactio ns   699 30,3 8 8
 Gro ssNotion al  Va lue $    192 , 913 ,064  9,74 9, 624,06 5 
 
Revenuefrom Physical flows todate ( $)   33 3,580,641  

 N umber ofNewCounterpar tie s t ransa cti n g tod ay  3  
N umber  ofC ounterpar t ie s h a v in g transacte d t o d ate   2 1 8 
   N.A . Gas   
  
 Numb e r of Transacti ons548   2 5,29 1
 Volume of Tr ans ac t i ons (mmb tu 's)   118,2 38,922  4 , 990,4 17,332  
 Gro ss Noti o n al Value$  144 ,868,312  7 ,9 3 3,246,8 95   
 UKGas 
  
 N umbero f Tr a n sactions   33  1,591  Volu m e o f Tra ns actions (mmb tu's
 the_intended
> recipient_of this message you_are hereby_notified_that any_review,
>_dissemination, distribution or_copying of this_message is strictly
> prohibited._ This communication_is_for information purposes only and
> should not be regarded as an offer to sell_or_as a_solicitation_of_an
> offer to buy any_financial product, an official confirmation_of any
>_transaction, or as an official statement of Lehman_Brothers._ Email
> transmission_cannot be guaranteed to be secure or error-free.
> Therefore,_we do not represent that this_information is complete_or
>_accurate_and it should not_be relied upon as such. _All information is
> subject to change_without notice.
>
>


------------------------------------------------------------------------------
This message is intended only for_the personal and confidential use of_the designated recipient(s) named above._ If_you are not the intended_recipient of this_message you_are hereby notified_that any review, dissemination, distribution or_copying of this_message is strictly prohibited.  This_communication_is for information_purposes_only_and should_not be regarded_as_an offer_to_sell or as a solicitation of_an_offer to buy any financial product, an_official confirmation of any_transaction,_or as an official_statement of Lehman Brothers. _Email transmission cannot be guaranteed to_be secure_or error-free._ Therefore, we do not represent that this information is complete_or accurate and it should not_be relied upon as_such. _All_information is subject_to_change without_notice. Attached is the Mangement Report for_02/18/00. _


External Trading   
 _
 Total  18-Feb-00__To Date 
  
 Number_of Transactions   699 _ 30,388 
 Gross Notional_Value_$_  192,913,064  _9,749,624,065 
  
 Revenue from_Physical flows to_date ($)    333,580,641 
__
 Number of New Counterparties transacting_today_   3 
 Number_of_Counterparties_having transacted to date _  218 
  
_N.A. Gas   
  
 Number of_Transactions  _548   25,291 
_Volume_of_Transactions (mmbtu's)   118,238,922   4,990,417,332 
 Gross_Notional Value_$  _144,868,312   7,933,246,895 
  
 UK Gas _ 
  
 Number of Transactions_  33   1,591 
 Volume of Transactions (mmbtu's