ML021500440

Second Interim Fee Application of Ernst & Young Corporate Finance LLC for Allowance of Compensation & Reimbursement of Expenses for Professional Services Rendered as Financial & Restructuring Advisor to the Debtor & Debtor in Possession

ML021500440
Person / Time
Site:	Diablo Canyon
Issue date:	05/15/2002
From:	Carlson E Ernst & Young Corporate Finance, Pacific Gas & Electric Co
To:	Office of Nuclear Reactor Regulation, US Federal Judiciary, Bankruptcy Court, Northern District of California
References
01-30923M
Download: ML021500440 (83)

Text

1 MARTIN NACHIMSON ERIC CARLSON FILLED 2 ERNST & YOUNG CORPORATE FINANCE LLC MAYx 1451 California Avenue 3 Palo Alto, CA 94304 Telephone: (650) 496-4768 4 Facsimile: (650) 496-4672 5

6 UNITED STATES BANKRUPTCY COURT 7

NORTHERN DISTRICT OF CALIFORNIA 8

SAN FRANCISCO DIVISION 9

Chapter 11 In re:

10 Case No. 01-30923M 11 PACIFIC GAS AND ELECTRIC SECOND INTERIM FEE APPLICATION OF COMPANY ERNST & YOUNG CORPORATE FINANCE LLC 12 FOR ALLOWANCE OF COMPENSATION AND Debtor and Debtor in Possession REIMBURSEMENT OF EXPENSES FOR 13 PROFESSIONAL SERVICES RENDERED AS FINANCIAL AND RESTRUCTURING ADVISOR 14 TO THE DEBTOR AND DEBTOR IN POSSESSION (THROUGH MARCH 31, 2002) 15 16 Hearing to be Scheduled 17 18 19 20 Ernst & Young Corporate Finance LLC ("EYCF") hereby submits its Second Interim 21 Fee Application for Allowance Of CompensationForProfessionalServices Rendered As 22 Financialand RestructuringAdvisor To The Debtor And DebtorIn Possession (the 23 "Application") for the period of July 1, 2001 through March 31, 2002 with respect to 24 professional fees and for the period of April 6, 2001 through March 31, 2002 with respect to 25 out of pocket expenses (the "Second Application Period").

I.

26 27 INTRODUCTION 28

,4o{ Aid:~~ ýcj I*7;2 SECOND INTERIM FEE APPLICATION

1 1. This is EYCF's second long-form interim application for approval for payment of 2 professional fees and expenses pursuant to our role as financial and restructuring advisor to the 3 Debtor and Debtor in Possession. EYCF submits this Application in accordance with 4 Bankruptcy Code sections 330 and 331, Rule 2016 of the Federal Rules of Bankruptcy 5 Procedure (the "Bankruptcy Rules"), the Office of the United States Trustee for the Northern 6 District of California Guidelines (the "UST Guidelines"), the United States Bankruptcy Court 7 Northern District of California Guidelines for Compensation and Expense Reimbursement of 8 Professionals and Trustees (the "Court Guidelines"), and the "Order Granting Motion for 9 Administrative Order Under 11 U.S.C. § 105(a) and 331 of the Bankruptcy Code Establishing 10 Procedures for Interim Compensation and Reimbursement of Expenses for Professionals and 11 Committee Members" (the "Administrative Order"), that was entered on July 26, 2001, for 12 allowance of interim compensation for professional services rendered.

13 2. Subsequent to April 6, 2001, pursuant to the Amended OrderApproving the First 14 Interim Fee Application of Ernst & Young CorporateFinanceLLCfor Allowance of 15 Compensationfor ProfessionalServices Rendered as Financialand RestructuringAdvisor to the 16 Debtorand Debtorin Possession, EYCF has received payment of $520,077.50 as compensation 17 for professional services rendered. EYCF has not received reimbursement of expenses since the 18 commencement of this case. During the post-petition period, EYCF has not filed Cover Sheet 19 Applications for interim compensation and has therefore received no other payments from the 20 Debtor.

21 3. It should be noted that during this Second Application Period, certain professional 22 services were rendered by E&Y Capital Advisors LLC ("EYCA"); however, on September 1, 23 2001, pursuant to an Assignment Agreement ("Assignment Agreement"), EYCA assigned all of 24 its assets (including the services billed contained within this Application) and obligations to 25 EYCF. The Debtor filed an Application on September 10, 2001, seeking the Court's approval of 26 the aforementioned assignment and providing additional details regarding the assignment.

27 Further, this court entered an order approving such assignment on October 26, 2001.

28 SECOND INTERIM FEE APPLICATION 2

1 4. As discussed below, during the Second Application Period EYCF rendered a total 2 of $411,394.00 in financial and advisory services and incurred a total of $130,993.80 in 3 expenses (professional fees for the nine months ended March 31, 2002 and expense a

4 reimbursement for the twelve months ended March 31, 2002). Therefore, we are requesting debtor 5 total of $542,387.80 in connection with representing Pacific Gas and Electric Company, 6 in possession in the above-captioned case, (the "Debtor"), during the Second Application Period, reflects 7 the entire balance of which is outstanding and due. This Second Interim Fee Application 8 voluntary reductions during the Second Application Period of $88,958.50 in professional fees 9 pursuant to arrangements between EYCF and the Debtor. In support of the Application, EYCF 10 respectfully represents as follows:

11 II.

12 APPLICATION 13 Approval of Employment of EYCA and Subsequent Name Change to EYCF 14 1. EYCF is a professional services firm with offices nationwide, including, but not LLP.

15 limited to, Palo Alto, California. EYCF is a wholly-owned subsidiary of Ernst & Young 16 EYCF acts as financial and restructuring advisor to, among others, debtors, creditors, and was 17 committees in cases pending throughout the United States. EYCA's employment application 2001.

18 served on the Office of the United States Trustee and other parties in interest on April 20, by the 19 By order of this Court dated May 26, 2001, the Court approved the retention of EYCA of 20 Debtor (the "Order of Retention"). On September 10, 2001 the Debtor filed its application of the 21 Debtor and Debtor in Possession for an order authorizing it to retain EYCF by virtue 22 assignment by EYCA to EYCF of EYCA's retention and on October 26, 2002 this court approved 23 that assignment. EYCA and EYCF have performed as the Debtor's financial and restructuring 24 advisor pursuant to the terms of the Order of Retention since April 6, 2001.

25 26 Background and Case Status 27 1. On April 6, 2001 (the "Petition Date"), the Debtor commenced its reorganization and is 28 case by filing a voluntary petition for relief under Chapter 11 of the Bankruptcy Code SECOND INTERIM FEE APPLICATION 3

1 operating and managing its business as a debtor in possession. On September 19, 2001 the 2 Debtor filed its first Disclosure Statement and Plan of Reorganization (the "Plan"). After an 3 initial review, the Bankruptcy Court requested the Debtor to provide additional information 4 regarding certain details of its Plan. In an effort to satisfy these requirements of the Bankruptcy 5 Court, the Debtor filed its first amended Disclosure Statement and Plan of Reorganization (the 6 "Amended Plan") on December 19, 2001. The principal objectives under the Amended Plan, 7 however, are consistent with the original Plan. On February 13, 2002 the California Public 8 Utilities Commission (the "CPUC") submitted a term sheet to the Bankruptcy Court describing 9 the CPUC's proposed alternative plan of reorganization of the Debtor. At a hearing on February 10 27, 2002, the Bankruptcy Court terminated the Debtor's exclusivity for the limited purpose of 11 allowing the CPUC to file a completing plan. The Bankruptcy Court required the CPUC to file 12 its proposed plan by April 15, 2002. In April 2002, the Debtor filed an amended Plan of 13 Reorganization. The Bankruptcy Court subsequently approved the Disclosure Statement and set 14 June 19 as the target date to begin voting. The CPUC is submitting a rival plan of reorganization 15 that will be on the same ballot.

16 17 Project Billing and Narrative Statement of Services Rendered 18 1. In accordance with the Northern District Guidelines and UST Guidelines, EYCF 19 classified all services performed for which compensation is sought into categories. EYCF 20 attempted to place the services performed in the category that best relates to the service provided.

21 However, because certain services may relate to more than one category, service descriptions 22 may, in fact, overlap categories. EYCF has established the following billing categories:

23 24 a) Preparation and Review of Information Requests and Related Matters 25 b) Claims Management Process 26 c) Preparation / Participation in Creditor Committee Meetings & Conference Calls 27 d) Participate in Other Financing Matters 28 e) Participate in Negotiation and Formulation of Plan of Reorganization SECOND INTERIM FEE APPLICATION 4

1 f) Preparation o0 ree / expense Appflcaiuons 2

3 The Exhibits to the Application provide a detailed breakdown for each of the categories in 4 which EYCF billed for services in this case.

5 6 a) Preparation and Review of Information. Requests and Related Matters (Project 7 Code 5) and review 8 Throughout the course of the project, EYCF was involved in the preparation 9 of information that would be provided to the creditors and parties in interest. The by the 10 complexity of the Debtor's business warranted a significant amount due diligence 11 Creditors and the requests that have been made and responded to have been numerous.

12 Examples of these activities include:

13 0 Participating in meetings and informational interviews requested by the parties in 14 interest; 15 N Performing research relating to electricity demand projected by the State of 16 California and its advisors; 17 0 Drafting responses to parties in interest information requests regarding several 18 issues including capital expenditure projections, business line revenue projections, 19 projected cash implications of the "Net Open Position" and the year-to-date 20 undercollections, among others; to 21 E Meetings with Debtor personnel regarding preparation of and responses 22 information requests; 23 and 24 EYCF's involvement in these matters assured seamless information flow 25 responsiveness to the requests of the parties in interest.

26 27 Total Hours 52.5 / Total Fees $23,295.50 28 SECOND INTERIM FEE APPLICATION 5

1 b) Claims Mana2ement Process (Project Code 22) 2 EYCF's assisted the Debtor in establishing a claims management process. Given the 3 immense size of these proceedings, the Debtor undertook substantial efforts to prepare an 4 organized, well-thought process through which it could proactively track, address and resolve 5 all issues related to claims made on the estate. Given EYCF's extensive experience with 6 knowledge of these issues and the complexity of the Debtor's issues, EYCF was asked to 7 assist the Debtor with the formulation of a Claims Management Process. A few examples of 8 the types of activities grouped in this project code can be characterized as follows:

9 0 Preparing for and presenting information to the Debtor relating to certain claims 10 processes such as the claims resolution process, the time-line and key dates 11 relating to claims; 12 a Analyzing claims by category, amount and classification; 13 " Creating and utilizing a database of all filed claims for reference and organization 14 purposes; 15 0 Classification of claims into categories to facilitate the reconciliation process; 16

• Meetings with various Debtor personnel and other professionals retained by the 17 Debtor regarding the claims management process; 18 a EYCF provided the Debtor with advice regarding types of issues to expect, means 19 of addressing and resolving the issues and development of tracking mechanisms 20 to ensure that all issues were known and properly resolved.

21 Total hours 123.7 / Total fees $44,139.00 22 23 c) Preparation / Participation in Creditor Committee Meetings & Conference Calls 24 (Project Code 26) 25 EYCF had been asked by the Debtor to be actively involved in the frequent creditor 26 committee meetings and conference calls. Therefore EYCF had spent time 27 0 Preparing various analyses; 28

• Reviewing documents to be provided to the creditors during certain creditor SECOND INTERIM FEE APPLICATION 6

1 committees and conference calls; and 2 Participating in the creditor committee meetings and conference calls.

3 Total hours 53.4 / Total fees $32,356.50 4

5 d) Participate in Other Financing Matters (Project Code 37) 6 On several occasions, EYCF had been asked to perform analyses and prepare for meetings 7 related to certain financing matters. These matters frequently involved:

8 0 Analysis related to the Letter of Credit backed Pollution Control Bonds and how 9 that their security interest affects the new issuance of bonds in the proposed 10 operating company structure; 11 Analysis related to the collateralization of the self-insurance program and 12 assistance with cost analysis related to alternative collateralization programs; 13

• Analysis concerning the covenant requirements set forth in the agreements of 14 certain debt instruments; 15

• Participate and attend financial instrument team meetings; 16 Total hours 64.4 / Total fees $25,274.00 17 18 e) Participate in Negotiation and Formulation of Plan of Reorganization (Project Code 19 41) 20 EYCF was frequently asked by the Debtor to render advice, professional insight or otherwise 21 assist in the formulation of the Plan of Reorganization. Some key types of tasks involved 22 under this project code include:

23 0 Participating and attending meetings that related to the formulation of a Plan of 24 Reorganization; 25

• Reviewing key issues related to the Plan of Reorganization; 26 n Prepare and analyze financial models related to financial instruments; 27 a Prepare and analyze scenario analyses with respect to potential debt allocations 28 within the context of the tax basis of each new operating entity; SECOND INTERIM FEE APPLICATION 7

1 0 Analyze terms and conditions for debt issues and their implications on the Plan of 2 Reorganization such as determination of how to maintain the tax exempt status of 3 the pollution control bonds; 4 " Analyzing certain debt instruments and prepare cost benefit analyses related to 5 new issuance versus reinstatement in the context of the latest draft of the Plan of 6 Reorganization; and 7 0 Preparing various supporting analyses to the Debtor's preparation of Plan of 8 Reorganization.

9 10 Total hours 602.7 / Total fees $279,471.50 11 12 f) Preparation of Fee / Expense Applications (Project Code 46) 13 During the Second Application Period, EYCF professionals spent time to organize and 14 accurately prepare its First Interim Fee Application and the Second Interim Fee Application 15 (the "Fee Applications"). The type of services performed in this category include the 16 following:

17

• Compiling detailed time records related to services performed for which 18 compensation was sought in accordance with the requirements established by the 19 United States Bankruptcy Code; 20

• Preparing the necessary documents and exhibits related to fee applications.

21 Total hours 23.3 / Total fees $6,857.50 22 23 24 25 26 27 28 SECOND INTERIM FEE APPLICATION 8

1 2 III.

3 COMPENSATION FOR PROFESSIONAL SERVICES 4 Time Records/Billing Summary 5 1. It is EYCF's normal business practice to charge its clients in full for services rendered and all 6 actual and necessary out-of-pocket costs and expenses incurred by EYCF in providing those 7 services. In the ordinary course of its practice on engagements such as this one, EYCF 8 maintains records of time expenses by professional in rendering services to its clients. Time 9 records are prepared in conjunction with the rending of the services in increments of 0.1 hours1.157407e-5 days <br />2.777778e-4 hours <br />1.653439e-6 weeks <br />3.805e-7 months <br /> 10 (6 minutes).

11 2. With assets of $21.4 billion, this case is the second largest bankruptcy case filed during 2001.1 12 Further, due to both the magnitude and complexity of the issues in this case and the role that 13 the Debtor has asked EYCF to fill, this engagement has required the involvement of EYCF's 14 senior level personnel. In light of the large and complex nature of this case, EYCF believes it 15 has rendered services to the Debtor in the most efficient manner possible.

16 3. Attached hereto are exhibits which detail all time spent by EYCF's professionals on matters 17 for which compensation is sought as well as detail listing of expenses for which EYCF seeks 18 reimbursement:

19 a) Exhibit "A" contains a summary by professional and Exhibit "B" contains a 20 summary by Project Code of EYCF's services that were incurred during the Second 21 Application Period. These summaries include the time spent, rate and billing 22 attributable to each person who performed services to the Debtor. The fees sought by 23 EYCF are based on the customary compensation charged by comparatively skilled 24 practitioners in cases other than under Title 11.

25 b) Exhibits "C" & "D" contain detailed time descriptions by person and by category 26 Project Code, respectively. The time detail is organized on a daily basis. EYCF is 27 particularly sensitive to issues of "lumping" and, unless time was spent in one time 28 The American Lawyer, April 15, 2002 SECOND INTERIM FEE APPLICATION 9

1 frame on a variety of different matters for a particular client, separate time entries are 2 set forth in the time reports.

3 4 Hourly Rates 5 A summary of the billing rates applicable during the Second Application Period were:

6 7

Professional Rate 8 Nachimson, M. $ 650 9 Thomas, J. 475 Peko, J. 475 10 Frazier, D. 340 Carlson, Q. 275 11 12 13 Fees Requested Should be Awarded Based Upon Applicable Law 14 The fees requested in this Application would be an appropriate award for EYCF's services in to the Debtor.

15 acting as financial and restructuring advisor 16 Evaluation of Requests for Compensation 17 1. Pursuant to Bankruptcy Code section 330, the Court may award to a professional person 18 reasonable compensation for actual, necessary services rendered, and reimbursement for Code section 331, the Court may 19 actual, necessary expenses incurred. Pursuant to bankruptcy 20 award compensation and reimbursement to a professional. As set forth above, the fees for which EYCF requests compensation and the costs incurred for which EYCF requests 21 22 reimbursement are for actual and necessary services rendered and costs incurred. The expenditure of substantial time and 23 professional services rendered by EYCF have required an 24 effort. Moreover, time and labor devoted in only one of many pertinent factors in determining 25 an award of fees and costs. Based on the skill brought to bear in this case by EYCF and the 26 results obtained, EYCF submits that the compensation requested herein is reasonable and 27 appropriate.

28 SECOND INTERIM FEE APPLICATION 10

1 2. The time for which compensation is sought is set forth in detail in EYCF's professional fee 2 statements contained in the exhibits hereto. EYCF's services and time expenditures are 3 reasonable in light of the labor required in this case.

4 3. The award EYCF seeks in this case is similar to awards that financial and restructuring 5 advisors have received in similar cases. EYCF's charges for its professional services are 6 based upon the time, nature, extent and value of such services and the cost of comparable 7 services in the San Francisco Bay Area, other than in a case under the Bankruptcy Code. The 8 compensation EYCF seeks by way of this Application is the customary compensation sought 9 by EYCF and other professionals representing trustees, committees, and debtors in similar 10 circumstances.

11 12 Section 330(a)(3) Factors 13 1. Bankruptcy Code section 330(a)(3) sets forth four (4) factors to be considered by the Court.

14 Although several of these factors (such as the time involved, the timeliness of EYCF's 15 performance, and the complexity of the case) were addressed above, EYCF believes one of 16 the four factors should be discussed separately again here. Bankruptcy Code 17 section 330(a)(3)(C) requires that the professional services be necessary to the administration 18 of, or beneficial at the time that the service was rendered toward completion of, the case.

19 EYCF believes that the facts of this case make it evident that EYCF's services were both 20 necessary and beneficial. Without EYCF's assistance the debtor would have likely 21 experienced delays regarding the fulfillment of its obligations under the bankruptcy code and 22 local rules and in its formulation of a Plan of Reorganization. Additionally, Bankruptcy Code 23 section 330(a)(3)(E) requires the compensation be reasonable based on customary 24 compensation charged by comparably skilled practitioners in cases other than cases under 25 Chapter 11. EYCF believes its professionals are skilled and performed well in this case and 26 that the fees charged by EYCF are commensurate with the fees charged by EYCF's 27 counterparts engaged in non-bankruptcy financial advisory services.

28 SECOND INTERIM FEE APPLICATION 11

1 IV.

2 CONCLUSION 3 1. The compensation presently sought by EYCF is its second application. Neither 4 EYCF, nor any shareholders or associates of EYCF, have any agreement or any understanding of 5 any kind or nature to divide, pay over, or share any portion of the fees to be awarded EYCF with 6 any other person, except as among shareholders and associates of EYCF. Other than these fee 7 applications, there are no claims against, or interests of, the estate in which a beneficial interest 8 has been acquired or transferred by EYCF for its account after becoming financial and 9 restructuring advisor to the Debtor.

10 2. EYCF believes that the services rendered for which compensation is sought in this 11 Application have been beneficial to the estate, that the costs incurred have been necessary and 12 proper, and that the sums requested for the services rendered and the costs incurred are fair and 13 reasonable.

14 3. On July 26,2001, the Debtor filed the Notice of Motion and Motion For 15 Administrative Order Under Sections 105(a) and 331 of the Bankruptcy Code Establishing 16 Procedures and Deadlines for Interim Compensation and Reimbursement of Expenses For 17 Professionals and Committee Members (the "Fee Procedures Motion"). On or about July 26, 18 2001, the Court entered the Order Granting Motion For Administrative Order Under Sections 19 105(a) and 331 of the Bankruptcy Code Establishing procedures For Interim Compensation and 20 Reimbursement of Expenses For Professionals and Committee Members (the "Administrative 21 Order").

22 4. By this Application, Applicant requests interim approval of fees and expenses in 23 accordance with the Bankruptcy Code sections 330 and 331, Bankruptcy Rule 2016, the Court 24 Guildelines, The UST Guidelines and the Administrative Order. The total compensation for the 25 Second Application Period amounts to professional fees of $411,394.00 and reimbursement of 26 expenses of $130,993.80, or total relief of $542,387.80. Applicant requests that the Court 27 authorize the Debtor to pay fees and expenses approved by the Court.

28 5. For all of the forgoing reasons, Applicant believes that the fees requested in this SECOND INTERIM FEE APPLICATION 12

1 Application are reasonable and reflect the value of services provided to the Debtor's estate.

2 6. WHEREFORE, EYCF respectfully requests that this Court approve the Application 3 and allow and direct immediate payment of fees and expenses as follows:

4 a. Approve interim allowance of professional fees in the amount of $411,394.00; 5 b. Approve Reimbursement of costs and expenses in the amount of $130,993.80; 6 c. Direct payment to EYCF by the Debtor of the approved fees or such other relief as the 7 Court may deem just and proper.

8 Dated: May 15, 2002 ERNST & YOUNG CORPORATE FINANCE LLC 9

10 By __ __-, _ ___a _ __,_,._----_

Eric CarlsonW 11 Managing Director 12 Ernst & Young Corporate Finance LLC Financial and Restructuring Advisor to the 13 Debtor and Debtor in Possession 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 SECOND INTERIM FEE APPLICATION 13

I CERTIFICATION 2 I, Martin Nachimson, declare as follows:

3 1. I am a Managing Director of Ernst & Young Corporate Finance LLC (EYCF).

4 2. I am familiar with and have read the above application and the facts therein are true to my knowledge and belief. The copies of the billing statements are true and correct copies of 5 EYCF's billing statements for this case.

6 3. EYCF has not been paid or promised any compensation from any other source for services rendered in connection with this case.

7

4. EYCF has not entered into any agreement or understanding with any other entity for the 8 sharing of compensation received or to be received for services rendered and/or to be rendered in connection with this case.

9

5. To the best of my knowledge, information and belief, the compensation. and expense 10 reimbursement sought herein is in conformity with the Guidelines for Compensation and Expense Reimbursement of Professionals and Trustees for the United States Bankruptcy 11 Court for the Northern District of California, except to the extent set forth in the application.

12

6. This application is submitted in accordance with the Guidelines for Compensation and 13 Expense Reimbursement of Professionals and Trustees for the United States Bankruptcy Court for the Northern District of California.

14

7. The compensation and expenses sought herein were billed at rates no less favorable than 15 those customarily billed by EYCF and generally accepted by the applicant's clients.

16 I declare under penalty of perjury that the foregoing is true and correct and that this 17 certification was executed this 15th day of May 2002 at San Francisco, California.

18 19 7 Eric Carlsbn 20 21 22 23 24 25 26 27 28 SECOND INTERIM FEE APPLICATION 133

ERNST & YOUNG CORPORATE FINANCE LLC Summary July 1st, 2001 through March 31st, 2002 Exhibit A Professional I Rate I Total Hours Fees Expenses (1) Total Nachimson, M. $ 650 179.4 $ 116,610.00 $ 25,692.98 $ 142,302.98 Thomas, J. 475 105.0 49,875.00 519.00 50,394.00 Peko, J. 475 332.3 157,842.50 41,571.61 199,414.11 Ainsworth, J. 375 594.40 594.40 Frazier, D. 340 56.3 19,142.00 10,157.09 29,299.09 Carlson, Q. 275 247.0 67,924.50 52,388.02 120,312.52 "NkT,. T -'-'-C N a,1 J. LI. -- 70.70 70.70 Total Fees and Expenses 920.0 $ 411,394.00 $ 130,993.80 $ 542,387.80 (1) The expenses relate to the 12 month period, April 6th through March 31st, 2001.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC PCD Code Summary Related to July 1st, 2001 through March 31st, 2002 Exhibit B Monthly Total (fAda flD¢rrinfinn PCD Code Hours Fees jr V A%;n ý0ý Vi F +in" i 23,295.50 5 52.5 Preparation and Review of Info. Requests and Related Matters 22 123.7 44,139.00 Claims Management Process 26 53.4 32,356.50 Preparation/Participation in Creditor Committee Meetings & Conference Calls 37 64.4 25,274.00 Participate in Other Financing Matters 41 602.7 279,471.50 Participate in Negotiation and Formulation of Plan of Reorganization 46 23.3 6,857.50 Preparation of Fee/Expense Applications 920.0 411,394.00 Total 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C PCD Professional I Date I Rate I ours I Fees I Code Comments Nachimson, M. 2-Jul-01 650 1.2 780.0 37 Cash management issues including teleconference with Mellon Bank and Mike Donnelly Nachimson, M. 2-Jul-01 650 0.8 520.0 37 Interest rate issues including teleconference with J. Lopes, K. Tapparo & M. Donnelly Nachimson, M. 3-Jul-01 650 1.7 1,105.0 41 Review debt instruments in connection with POR including teleconference with Mike Donnelly and M. Kessler Nachimson, M. 3-Jul-01 650 0.3 195.0 37 Review net open position issues including projections and current status Nachimson, M. 3-Jul-01 650 0.2 130.0 37 Issue re indenture trustee Nachimson, M. 5-Jul-01 650 2.5 1,625.0 41 Review debt instruments re POR Nachimnson, M. 5-Jul-01 650 2.3 1,495.0 37 Review Net open position including meeting with S. Hartman and Mike Donnelly Nachimson, M. 5-Jul-01 650 0.3 195.0 22 Review vendor claims issues Nachimson, M. 5-Jul-01 650 0.3 195.0 37 Review tax issues Nachimson, M. 6-Jul-01 650 0.5 325.0 26 Preparation for committee meeting including teleconference with J. Lopes Nachirnson, M. 6-Jul-01 650 0.3 195.0 37 RE bond indenture trustee including teleconference with B. Britton Nachimson, M. 8-Jul-01 650 1.2 780.0 37 Pollution control board issues including teleconference with agent and counsel Nachimson, M. 9-Jul-01 650 7.0 4,550.0 41 Preparation or POR issues including meeting with financial instruments team Nachimson, M. 10-Jul-01 650 2.0 1,300.0 41 Preparation for meeting re POR Nachimson, M. 10-Jul-01 650 1.7 1,105.0 26 Preparation for creditors committee meeting including teleconference with Clara Strand/Bank of America Nachimnson, M. 10-Jul-01 650 1.5 975.0 37 Review pollution control bond issues Nachimson, M. 11-Jul-01 650 3.0 1,950.0 41 Preparation of POR - financial instruments meeting; review term sheet Nachimson, M. 11-Jul-01 650 1.8 1,170.0 26 Preparation for committee meeting Nachimson, M. 11-Jul-01 650 1.2 780.0 41 Review mortgage and bonds re POR Nachimson, M. 11-Jul-01 650 1.0 650.0 22 Review issues related to the claims resolution process 11-Jul-01 650 1.0 650.0 5 Respond to committee requests Nachimson, M.

Nachimson, M. 12-Jul-01 650 4.6 2,990.0 26 Preparation for and participation in meeting with creditors committee Nachimson, M. 12-Jul-01 650 1.0 650.0 41 Participation in debt holders teleconference Nachimson, M. 12-Jul-01 650 0.5 325.0 22 Review claims issues 12-Jul-0 1 650 0.5 325.0 37 Review mortgage bond issues Nachimson, M.

13-Jul-01 650 1.0 650.0 37 Review debt issues Nachimson, M.

17-Jul-01 650 1.4 910.0 26 Preparation for committee meeting including teleconference with debtor team and J. McGuire Nachimson, M.

Nachimson, M. 17-Jul-01 650 0.7 455.0 41 Review committee POR issues including teleconference with C. Strand Nachimson, M. 17-Jul-01 650 0.3 195.0 41 Review debt instrument issue re POR including teleconference with Mike Donnelly Nachimson, M. 17-Jul-01 650 0.2 130.0 22 Review claims issue Nachinison, M. 18-Jul-01 650 4.0 2,600.0 41 Review disclosure statement 18-Jul-01 650 1.5 975.0 26 Prepare for creditors meeting Nachimson, M.

18-Jul-01 650 1.0 650.0 37 Review mortgage bond issues Nachimson, M.

18-Jul-01 650 0.3 195.0 5 Respond to committee requests Nachimson, M.

19-Jul-01 650 4.6 2,990.0 26 Preparation for and participation in creditors committee meeting Nachimson, M.

19-Jul-01 650 1.0 650.0 26 Debtholder teleconference Nachimson, M.

19-Jul-01 650 0.5 325.0 37 Review mortgage bond issues Nachimson, M.

Nachinison, M. 19-Jul-01 650 0.5 325.0 22 Review claims issue 23-Jul-01 650 2.2 1,430.0 41 Review POR debt issues Nachimson, M.

23-Jul-01 650 1.9 1,235.0 5 Review committee statement Nachinison, M.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C I Hours I I Professional Nachimson, M.

I Date 23-Jul-01 Rate 650 K

1.0 1I Fees 650.0 L

PCD Code 5

Comments Meeting with L. Barnes re committee requests Nachimson, M. 23-Jul-0 I 650 0.6 390.0 37 Review tax issues Nachirnson, M. 24-Jul-01 650 2.0 1,300.0 41 Review POR & discuss statement issues including meeting of finance team Nachimson, M. 24-Jul-01 650 1.5 975.0 26 Preparation for committee meeting Nachimson, M. 24-Jul-01 650 1.0 650.0 26 Teleconference with Lehman, PWC re financing trust Nachimson, M. 25-Jul-01 650 3.8 2,470.0 41 Review debt instruments re POR and capital structure Nachimson, M. 25-Jul-01 650 1.2 780.0 41 Discussion with J. Thomas re: negotiations with creditors committee over POR Nachimson, M. 25-Jul-01 650 0.5 325.0 5 Review current pleading Nachimson, M. 26-Jul-01 650 4.5 2,925.0 26 Creditors committee meeting Nachimson, M. 26-Jul-01 650 1.0 650.0 37 Review debt instruments Nachimson, M. 26-Jul-01 650 0.6 390.0 5 Respond to committee requests, teleconference with PWC, Ted Huntley and W. Campbell Nachimson, M. 26-Jul-01 650 0.3 195.0 26 Discussion with J. Thomas and PwC re: follow up questions re: generation business forecasts Nachimson, M. 27-Jul-01 650 0.8 520.0 46 Prepare fee filing Nachimson, M. 27-Jul-01 650 0.3 195.0 5 Respond to committee request Nachimson, M. 31-Jul-01 650 3.0 1,950.0 41 Financial instruments review re POR Nachimson, M. 3 1-Jul-01 650 2.2 1,430.0 26 Preparation for creditors committee meeting Nachimson, M. 31-Jul-01 650 1.0 650.0 5 Review creditor committee information requests re operating results Nachimson, M. 31-Jul-01 650 0.8 520.0 26 Meeting with Leroy Barnes re creditors committee Nachimson, M. 2-Aug-01 650 1.0 650.0 26 Review creditor committee issues re operating Nachimson, M. 6-Aug-01 650 3.2 2,080.0 41 Telephonic meeting of financial instruments team re POR Nachimson, M. 6-Aug-01 650 0.8 520.0 26 Preparation for committee meeting Nachimson, M. 7-Aug-01 650 1.4 910.0 26 Preparation for committee meeting including review of presentation Nachimson, M. 8-Aug-01 650 2.1 1,365.0 41 Review POR issues including meeting with M. Kessler Nachimson, M. 8-Aug-01 650 1.5 975.0 41 Meeting with M. Donnelly and Rothchild re POR issues Nachimson, M. 8-Aug-0 1 650 0.4 260.0 37 Review officers' certificates re mortgage bonds Nachimson, M. 9-Aug-01 650 5.2 3,380.0 26 Preparation for and participation in committee meeting Nachimson, M. 9-Aug-01 650 0.2 130.0 41 Discussion with J. Peko related to treatment of PC bond holders.

Nachimson, M. 10-Aug-01 650 0.4 260.0 46 Preparation of billing data including teleconference with Mike Donnelly and D. Mistry Nachimson, M. 10-Aug-01 650 0.4 260.0 5 Re committee requests including teleconference with P. Joost Nachimson, M. 10-Aug-01 650 0.3 195.0 37 Review Morgan assignment issues Nachimson, M. 14-Aug-01 650 7.2 4,680.0 41 Analysis of debt structure in connection with POR including meeting with financial instruments Nachimson, M. 14-Aug-01 650 0.8 520.0 26 Review creditor committee issue with L. Barnes and K. Harvey Nachimson, M. 15-Aug-01 650 4.2 2,730.0 41 Analysis of debt structure in connection with POR with K. Harvey and L. Barnes Nachimson, M. 15-Aug-01 650 1.5 975.0 26 Meeting with debtor, counsel and Rothchild to discuss creditor issues Nachimson, M. 15-Aug-01 650 1.3 845.0 37 Review pollution control bond stipulations Nachimson, M. 16-Aug-01 650 5.9 3,835.0 41 Review debt instruments in connection with POR including meeting of financial instrument team Nachimson, M. 20-Aug-01 650 3.0 1,950.0 41 Preparation of POR and D/S Nachimson, M. 20-Aug-01 650 1.0 650.0 26 Review debt alternatives Nachimson, M. 21-Aug-01 650 3.0 1,950.0 41 Review POR & D/S Nachimson, M. 22-Aug-01 650 4.0 2,600.0 41 Review POR and D/S including meeting with financial instruments team Nachimson, M. 22-Aug-01 650 1.2 780.0 26 Review debt issues in connection with upcoming creditor committee meetings Nachimson, M. 22-Aug-01 650 0.8 520.0 41 Meet with L. Barnes re POR issue 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C I[Professional I I I I PCD Date 22-Aug-01 K Rate L Hours 1I Fees I Code Comments Nlacnlmson, M. 650 0.3 195.0 41 Discussions with J. Peko related to POR.

Nachimson, M. 22-Aug-01 650 0.2 130.0 41 Review plan alternatives with S. Shelan Nachimson, M. 23-Aug-01 650 0.5 325.0 41 Review mortgage bond issue with regard to POR Nachinison, M. 24-Aug-01 650 4.7 3,055.0 41 Review debt issues in connection with POR Nachimson, M. 3 1-Aug-01 650 0,5 325.0 26 Review disclosure statement Nachimson, M. 4-Sep-01 650 2.0 1,300.0 41 Review draft disclosure statement Nachimson, M. 5-Sep-01 650 1.6 1,040.0 41 Review issues related to the LC backed Pollution Control Bonds Nachimson, M. 5-Sep-01 650 0.5 325.0 41 Discuss DS issue with J. Peko Nachimson, M. 5-Sep-01 650 0.1 65.0 41 Discuss LC treatment with J. Peko Nachimson, M. 6-Sep-01 650 2.0 1,300.0 41 Re POR - pollution control bond issues including teleconference with C. Strand and M. Donnelly Nachimson, M. 6-Sep-01 650 0.2 130.0 41 Discuss monthly officers certificate sign off for stipulation with J. Peko Nachimson, M. 7-Sep-01 650 0.2 130.0 41 Review financial instruments in preparation for financial instruments team meeting Nachimson, M. 10-Sep-01 650 2.0 1,300.0 41 Review draft plan of reorganization and disclosure statement Nachimson, M. 10-Sep-01 650 0.2 130.0 41 Discuss PC bond treatment with J. Peko Nachimson, M. 11 -Sep-01 650 1.4 910.0 41 Re POR - review pollution control bond issue including teleconference with debtor and counsel Nachimson, M. 1 -Sep-01 650 1.1 715.0 41 Review plan of reorganization and disclosure statement Nachinison, M. 13-Sep-01 650 4.2 2,730.0 41 Re POR- review treatment of pollution control bonds including teleconference with debtor and committee Nachimson, M. 13-Sep-01 650 1.4 910.0 41 Discussion with creditors re POR issue Nachimson, M. 13-Sep-01 650 0.5 325.0 41 Discussion with J. Peko and M. Donnelly re: PC treatment.

Nachimson, M. 13-Sep-01 650 0.2 130.0 41 Discussion with J. Peko regarding PC bond treatment.

Nachimson, M. 14-Sep-01 650 1.8 1,170.0 41 Re POR - treatment of PCB's including teleconference with C. Strand, J. Schaffer, L. Barnes & M.

Donnelly Nachimson, M. 17-Sep-01 650 3.5 2,275.0 41 Review POR issues re PCB including teleconference with M. Donnelly, L. Barnes and C. Strand Nachimson, M. 17-Sep-01 650 2.5 1,625.0 41 Review POR and disclosure statement Nachimson, M. 17-Sep-01 650 0.2 130.0 41 Discussion with J. Peko re: PC bond treatment.

Nachimson, M. 20-Sep-01 650 2.3 1,495.0 41 Review POR issues ahead of conference call Nachimson, M. 20-Sep-01 650 1.8 1,170.0 41 Investor teleconference re POR, including preparation Nachimson, M. 21-Sep-01 650 1.1 715.0 41 Review POR issue including teleconference with C. Strand Nachimson, M. 24-Sep-01 650 1.0 650.0 41 Review POR in preparation for teleconference call with C. Strand Nachimson, M. 28-Sep-01 650 0.5 325.0 41 Review POR status with Mike Donnelly Nachimson, M. 1-Oct-01 650 0.2 130.0 41 Review POR issue with Mike Donnelly Nachimson, M. 4-Oct-01 650 0.5 325.0 41 Review EIX deal Nachimson, M. 4-Oct-01 650 0.2 130.0 41 Status review re POR with Mike Donnelly Nachimson, M. 5-Oct-01 650 0.2 130.0 41 Review POR issue re creditor with Mike Donnelly Nachimson, M. 5-Oct-01 650 0.1 65.0 41 Review creditor issues re POR Nachimson, M. 8-Oct-01 650 0.2 130.0 41 Status update with Mike Donnelly Nachimson, M. 11-Oct-01 650 0.5 325.0 41 Review POR creditor issues including teleconference with Clara Strand Nachimson, M. 12-Oct-01 650 0.3 195.0 41 POR status review with Mike Donnelly Nachimson, M. 12-Oct-01 650 0.3 195.0 41 Review disclosure statement plan Nachimson, M. 12-Oct-01 650 0.1 65.0 41 Teleconference with Jim Peko re workplan 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C PCD IProfessional Date Rate Hours Fees Code Comments Nachimson, M. 16-Oct-01 650 0.9 585.0 41 Re POR - discussions with counsel for commercial paper holders and with debtor concerning POR issues Nachimson, M. 16-Oct-01 650 0.2 130.0 41 Review latest disclosure statement draft with Mike Donnelly Nachimson, M. 22-Oct-01 650 0.1 65.0 41 Discussion with Mike Donnelly re POR issues - pollution control board letters of credit Nachimson, M. 26-Oct-01 650 0.2 130.0 41 Review other POR work plan issues Nachimson, M. 26-Oct-01 650 0.2 130.0 41 Pollution control board - POR issues - discussions with Mike Donnelly Nachimson, M. 29-Oct-01 650 0.3 195.0 41 Discussions with Jim Peko with regard to POR work plan Nachlmson, M. Total 179.4 116,610.0 Thomas, J. 2-Jul-01 475 1.3 617.5 5 Review draft responses to creditor committee information requests Thomas, J. 2-Jul-01 475 1.2 570.0 22 Meeting with debtor personnel re: communications issues surrounding claims management Thomas, J. 2-Jul-01 475 0.9 427.5 22 Meeting with Debtor personnel re: claims management process and reconciliation procedures Thomas, J. 2-Jul-01 475 0.8 380.0 22 Analysis of creditors included on revised schedules of liabilities Thomas. J. 2-Jul-01 475 0.4 190.0 22 Draft correspondence with Berger and Associates re: information requirements of debtor for claims management Thomas, J. 3-Jul-01 475 0.6 285.0 22 Draft correspondence to R. Berger re: amended schedules and information requirements for analysis related to claims management Thomas, J. 5-Jul-01 475 1.3 617.5 5 Analysis of long-term projections by business line Thomas, J. 5-Jul-01 475 1.2 570.0 22 Analysis of procedures required to process and document claims resolutions post-receipt of proof of claims Thomas, J. 5-Jul-01 475 0.8 380.0 22 Discussions with Q. Carlson re: reports of scheduled liabilities and related analyses Thomas, J. 5-Jul-01 475 0.7 332.5 22 Analysis of claims included on revised schedules and categorization for claims management Thomas, J. 5-Jul-01 475 0.6 285.0 22 Analysis of claims stratifications based on amended schedules Thomas, J. 5-Jul-01 475 0.6 285.0 26 Preparation for site visits with creditor committee representatives Thomas, J. 5-Jul-01 475 0.6 285.0 37 Analysis of potential alternatives for financial restructurings Thomas, J. 5-Jul-01 475 0.5 237.5 5 Discussion with D. Hall re: long-term projections of debtor Thomas, J. 5-Jul-01 475 0.4 190.0 22 Discussion with B. Berger re: information requirements of debtor for claims management Thomas, J. 5-Jul-01 475 0.4 190.0 22 Discussions with D. Frazier re: claims management process Thomas, J. 6-Jul-01 475 5.2 2,470.0 26 Meeting and site tour with creditors committee representatives re: non-generation real property Thomas, J. 6-Jul-01 475 0.9 427.5 22 Discussions with D. Frazier regarding open claims projects and next steps Thomas, J. 6-Jul-01 475 0.5 237.5 22 Analysis of recipients of POC forms not on the schedule of liabilities Thomas, J. 6-Jul-01 475 0.4 190.0 22 Draft communication re: issues to be resolved through claims agent Thomas, J. 6-Jul-01 475 0.3 142.5 22 Review draft report of all claims by reconciliation category Thomas, J. 6-Jul-01 475 0.3 142.5 22 Discussion with J. Vanderhooven (Berger) re: POC mailing issues and schedules Thomas, J. 9-Jul-01 475 2.3 1,092.5 22 Analysis of all parties receiving proof of claim forms and development of reports for team leads Thomas, J. 9-Jul-01 475 1.4 665.0 5 Review draft responses to creditor committee information requests Thomas, J. 9-Jul-01 475 1.3 617.5 22 Analysis of amended schedules and claim categories Thomas, J. 9-Jul-01 475 1.2 570.0 5 Update information request status report Thomas, J. 9-Jul-01 475 0.5 237.5 22 Discussion with D. Frazier re: resolution team lead training materials Thomas, J. 9-Jul-01 475 0.4 190.0 22 Discussion with K. Dowd re: clairms classifications and resolution teams Thomas, J. 9-Jul-01 475 0.3 142.5 22 Discussions with D. Frazier re: unscheduled claims categories Thomas, J. 10-Jul-01 475 2.2 1,045.0 22 Analysis of reports of all scheduled claims by claim category to be distributed to team leads Thomas, J. 10-Jul-01 475 1.9 902.5 22 Preparation for meeting re: schedules and claims 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July Ist, 20011 through March 31st, 2002 Exhibit C I~1 PCD Professional Thomas, J.

I Date 10-Jul-01 Rate I Hours 475 1.4 Fees 665.0 L Code 5

Comments Review and analysis of responses to creditor committee information requests Thomas, J. 10-Jul-01 475 0.8 380.0 22 Discussion with D. Frazier re: POC summary schedules Thomas, J. 10-Jul-01 475 0.8 380.0 5 Discussions with Saybrook Capital re: site visits to company properties.

Thomas, J. 10-Jul-01 475 0.8 380.0 22 Preparation for claims resolution team lead meeting.

Thomas, J. 10-Jul-01 475 0.3 142.5 5 Correspondence with E. Jacobson re: status of information requests.

Thomas, J. 11-Jul-01 475 2.3 1,092.5 5 Analysis of claims included on schedules as potential response to creditors committee request Thomas, J. 11-Jul-01 475 2.1 997.5 22 Preparation of reports to be distributed at resolution team lead meeting Thomas, J. 11-Jul-01 475 1.7 807.5 22 Meeting with debtor personnel re: claims resolution team lead instructions.

Thomas, J. 11 -Jul-01 475 0.6 285.0 22 Meeting with debtor personnel re: bankruptcy compliance issues.

Thomas, J. 11-Jul-01 475 0.6 285.0 22 Discussion with Q. Carlson and D. Frazier re: status of claims management process Thomas, J. I I-Jul-01 475 0.5 237.5 5 Update status report re: creditor committee information requests Thomas, J. 1 -Jul-01 475 0.4 190.0 22 Preparation for meeting with debtor personnel re: bankruptcy compliance isssues.

Thomas, J. 11 -Jul-01 475 0.2 95.0 22 Discussion with K. Dowd re: claims resolution team lead meeting Thomas, J. 12-Jul-01 475 2.6 1,235.0 22 Analysis of claims classifications for purposes of facilitating the reconciliation process Thomas, J. 12-Jul-01 475 2.1 997.5 41 Research re: bond holder abilities/rights for voting on POR Thomas, J. 12-Jul-01 475 0.9 427.5 41 Research re: current bondholders by issuance.

Thomas, J. 12-Jul-01 475 0.7 332.5 41 Draft correspondence to H Rice re: procedures for voting on plan of reorganization Thomas, J. 12-Jul-01 475 0.4 190.0 22 Discussion with M. Snyder re: claims listing reports and classification of claims Thomas, J. 13-Jul-01 475 1.7 807.5 41 Research re: current holders of various issues of bonds.

Thomas, J. 13-Jul-01 475 0.8 380.0 5 Preparation for real estate site visits with creditor committee representatives Thomas, J. 13-Jul-01 475 0.7 332.5 5 Discussions with E. Jacobson re: status of information requests and procedures for updating information already supplied to committee Thomas, J. 13-Jul-01 475 0.6 285.0 41 Discussion with D. Frazier and Q. Carlson re: procedures for determining large holders of PGE Thomas, J. 13-Jul-01 475 0.4 190.0 41 Research re: ability of and procedures for various parties to vote on POR Thomas, J. 16-Jul-01 475 1.6 760.0 41 Research re: procedures required to obtain complete lists of current debt holders Thomas, J. 16-Jul-01 475 0.6 285.0 5 Preparation for participation in real estate site visits with creditor committee representatives.

Thomas, J. 16-Jul-01 475 0.6 285.0 41 Discussion with debtor personnel re: current bondholders and issues related to voting on POR Thomas, J. 17-Jul-01 475 4.9 2,327.5 5 Participate in real estate site visits with creditor committee representatives and POE land and building personnel Thomas, J. 17-Jul-01 475 0.6 285.0 41 Research re: procedures and rights of various parties with respect to voting on the POR Thomas, J. 17-Jul-0 I 475 0.5 237.5 41 Research re: current holders of various debt issuances of PGE Thomas, J. 17-Jul-01 475 0.4 190.0 41 Discussion with debtor personnel re: procedures and rights of creditors to vote on POR Thomas, J. 17-Jul-01 475 0.4 190.0 5 Discussion with POE legal re: procedures used to respond to information requests from outside Thomas, J. 17-Jul-01 475 0.3 142.5 22 Discussion with K. Dowd re: EYCA near term involvement in claims management process Thomas, J. 17-Jul-01 475 0.2 95.0 5 Discussion with M. Snyder re: creditor committee information requests.

Thomas, J. 18-Jul-01 475 5.2 2,470.0 5 Participate in real estate site visits with representatives from creditors committee and POE land and building personnel Thomas, J. 18-Jul-0 1 475 0.4 190.0 5 Review draft responses to information requests by creditors committee Thomas, J. 19-Jul-01 475 0.9 427.5 41 Meeting with Q. Carlson and J. Peko re: POR and refinancing issues.

Thomas, J. 19-Jul-01 475 0.8 380.0 41 Preparation for meeting re: POR issues and long-term financial planning Thomas, J. 19-Jul-01 475 0.8 380.0 41 Discussion with Q. Carlson and J. Peko re: debt restructuring plan Thomas, J. 19-Jul-01 475 0.4 190.0 41 Meeting with M. Nachimson re: POR issues and creditor committee meeting.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C I I II I I PCD IProfessional I Date I Rate Hours I Fees I Code Comments Thomas, J. 20-Jul-01 475 4.7 2,232.5 41 Meeting with debtor personnel re: POR issues and long-term financial planning Thomas, J. 24-Jul-01 475 1.6 760.0 37 Review of debt restructuring model Thomas, J. 25-Jul-01 475 1.3 617.5 37 Analysis of debt restructuring model Thomas, J. 25-Jul-01 475 1.2 570.0 41 Discussion with M. Nachimson re: negotiations with creditors committee over POR Thomas, J. 25-Jul-01 475 0.8 380.0 41 Discussion with Q. Carlson and J. Peko re: debt restructuring plan Thomas, J. 25-Jul-01 475 0.5 237.5 5 Review draft responses to creditors committee requests Thomas, J. 26-Jul-01 475 1.1 522.5 41 Analysis of debt claims to be incorporated into the POR.

Thomas, J. 26-Jul-01 475 0.8 380.0 26 Preparation for meeting with PwC re: generation business Thomas, J. 26-Jul-01 475 0.4 190.0 5 Review draft responses to information requests by the creditors' committee Thomas, J. 26-Jul-01 475 0.3 142.5 26 Discussion with M. Nachimson and PwC re: follow up questions re: generation business forecasts Thomas, J. 27-Jul-01 475 1.3 617.5 41 Read draft POR Thomas, J. 27-Jul-01 475 1.2 570.0 26 Meeting with creditors committee reps and debtor personnel to discuss generation business Thomas, J. 27-Jul-01 475 1.1 522.5 5 Discussions with debtor personnel re: financial projections for generation business Thomas, J. 27-Jul-01 475 0.5 237.5 26 Preparation for meeting with creditors committee reps. Re: generation business Thomas, J. 27-Jul-01 475 0.5 237.5 26 Follow up conversation with creditors committee reps re: generation business Thomas, J. 27-Jul-0 1 475 0.4 190.0 26 Discussion with debtor personnel re: meeting with creditors committee reps Thomas, J. 30-Jul-01 475 1.8 855.0 37 Analysis of debt restructuring model re: new debt Thomas, J. 30-Jul-01 475 0.9 427.5 5 Review of draft responses to creditors committee.

30-Jul-01 475 0.6 285.0 26 Discussions with creditors committee representatives re: follow up questions to business plan Thomas, J.

presentation.

Thomas, J. 30-Jul-01 475 0.5 237.5 5 Prepare analysis debt grades for comparable deals.

Thomas, J. 3 1-Jul-01 475 1.4 665.0 26 Prepare analysis of capital expenditure projections for discussion with creditors' committee Thomas, J. 3 1-Jul-01 475 1.2 570.0 37 Analysis of debt capacity matters and working capital requirements of proposed reorganized entity Thomas, J. 31-Jul-01 475 0,9 427.5 37 Research of historical bond ratings for comparable cases Thomas, J. 1-Aug-01 475 1.4 665.0 41 Analysis of current bondholders Thomas, J. 1-Aug-01 475 1.3 617.5 41 Preparation for meeting re: presentation to creditors committee re: proposed debt structure in POR J. 1-Aug-01 475 0.8 380.0 5 Review draft responses to creditor committee information requests Thomas, 1-Aug-0 1 475 0.6 285.0 37 Discussions with V. Fong re: proposed capital expenditure projects Thomas, J.

J. 1-Aug-01 475 0.2 95.0 37 Meeting with debtor personnel re: post-petition interest on secured debt.

Thomas, Thomas, J. 2-Aug-01 475 1.2 570.0 5 Review draft information regarding large capital expenditure projects and determine communication strategy to creditors.

2-Aug-01 475 0.6 285.0 37 Research re: large bankruptcy cases of utilities Thomas, J.

2-Aug-01 475 0.3 142.5 5 Review draft response to creditor committee information request, Thomas, J.

19-Sep-01 475 0.2 95.0 41 Discussion with J. Peko re: convenience class claims.

Thomas, J.

105.0 49,875.0 Thomas, J. Total 2-Jul-0 1 275 0.5 137.5 5 Discussion with Don Hall re revenue and expense projections for each business line Carlson, Q.

3-Jul-01 275 4.0 1,100.0 22 Preparation of reports summarizing claims statistics using claims database Carlson, Q.

3-Jul-01 275 2.8 770.0 22 Drafting claim category report Carlson, Q.

5-Jul-01 275 2.1 577.0 5 Analysis re revenue projections of Diablo Carlson, Q.

Carlson, Q. 5-Jul-01 275 0.8 220.0 22 Discussions with J. Thomas re: reports of scheduled liabilities and related analyses 6-Jul-01 275 4.1 1,127.5 22 Finalizing claims report to be sent to the different team leads involved in the claims resolution Carlson, Q.

6-Jul-0 1 275 1.2 330.0 22 Discussions with D. Frazier re claims process Carlson, Q, 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C PCD I II I I Code Comments Professional I Date Rate I Hours I Fees I Carlson, Q. 6-Jul-01 275 0.3 82.5 22 Discussions with D, Frazier to discuss claims report Carlson, Q. 9-Jul-01 275 3.1 852.5 22 Preparation of report showing the types of claims that were not classified by Berger & Assoc Carlson, Q. 9-Jul-01 275 2.7 742.5 22 Preparation of team lead reports re claims Carlson, Q. 9-Jul-01 275 2.1 577.5 41 POR issues Carlson, Q. 9-Jul-01 275 1.5 412.5 22 Applying the 'Zia map' to the uncategorized claims Carlson, Q. 9-Jul-01 275 0.5 137.5 5 Discussion with E. Jacobsen re information requests Carlson, Q. 10-Jul-01 275 3.7 1,017.5 22 Preparation of reports to be distributed at claims meeting Carlson, Q. 10-Jul-01 275 2.5 687.5 22 Preparing a report summarizing the types of claims within each category Carlson, Q. 10-Jul-01 275 2.5 687.5 22 Reviewing the claim categories Carlson, Q. 10-Jul-01 275 0.9 247.5 22 Discussions with D. Frazier re: POC schedule analysis Carlson, Q. 10-Jul-01 275 0.5 137.5 22 Discussions with D. Frazier re claims resolution process Carlson, Q. 11-Jul-01 275 2.5 687.5 22 Reviewing information related to schedules D, E and F within claims database Carlson, Q. 11-Jul-01 275 2.1 577.5 22 Preparation of reports to be distributed at team meeting re claims Carlson, Q. 11-Jul-01 275 0.6 165.0 22 Discussions with J. Thomas and D. Frazier re claims management process Carlson, Q. 12-Jul-01 275 3.1 852.5 22 Preparing a report summarizing the revisions applied to the claims database Carlson, Q. 12-Jul-01 275 2.1 577.5 22 Revising previously categorized tax claims into other categories Carlson, Q. 13-Jul-01 275 0.6 165.0 41 Discussion with D. Frazier and J. Thomas re: procedures for determining large holders of PGE debt Carlson, Q. 16-Jul-01 275 3.1 852.5 41 Research of owners of bondholders (Pollution control)

Carlson, Q. 16-Jul-01 275 1.0 275.0 5 Discussion with K. Lee re various debt instruments of the Utility Carlson, Q. 16-Jul-01 275 0.8 220.0 22 Discussion with D. Frazier to discuss status of detailed claim analysis Carlson, Q. 18-Jul-01 275 0.5 137.5 5 Review draft responses to information requests by creditors committee Carlson, Q. 19-Jul-01 275 0.9 247.5 41 Meeting with J. Thomas and J. Peko re: POR and refinancing issues.

Carlson, Q. 19-Jul-01 275 0.8 220.0 41 Discussion with J. Peko and J. Thomas re: debt restructuring plan Carlson, Q. 24-Jul-01 275 1.5 412.5 41 Analysis draft report to M. Kassissieh re maturities of restructured debt.

Carlson, Q. 24-Jul-01 275 0.5 137.5 41 Analysis re: maturities of restructured and new debt Carlson, Q. 24-Jul-01 275 0.4 110.0 41 Discussion with J. Peko re: maturities of restructured and new debt Carlson, Q. 25-Jul-01 275 3.0 825.0 41 Develop new maturity profile for new and restructured debt. Discussed with M. Donnelly and J.

Carlson, Q. 25-Jul-01 275 3.0 825.0 37 Analysis of debt restructuring model incorporating revisions from J. Peko Carlson, Q. 25-Jul-01 275 0.8 220.0 41 Discussion with J. Thomas and J. Peko re: debt restructuring plan Carlson, Q. 26-Jul-01 275 2.5 687.5 37 Review classes of debt under the restructuring plan and compare to classes of liabilities scheduled with the Bankruptcy court Carlson, Q. 27-Jul-0 1 275 2.3 632.5 41 Review and make revisions to the latest debt restructuring model Carlson, Q. 27-Jul-0 1 275 2.1 577.5 41 Discussions with J. Peko re: restructuring model and developing consistent allocations of restructured securities under POR Carlson, Q. 27-Jul-01 275 1.0 275.0 41 Discussion with Maher Kassisieh re: restructuring model Carlson, Q 30-Jul-0 1 275 3.9 1,072.5 41 Revised restructuring model to reflect the latest thinking on how much cash is projected to be distributed to each class of creditor Carlson, Q. 30-Jul-0 1 275 2.5 687.5 5 Research of other utility bankruptcies and the ratings related to the restructured debt.

Carlson, Q. 31-Jul-01 275 3.2 880.0 41 Layering in the maturities of debt under the newco's into the restructuring model Carlson, Q. 3 1-Jul-01 275 2.9 797.5 41 Analysis of the maturities of restructured debt under the latest restructuring model.

Carlson, Q. 3 1-Jul-01 275 2.4 660.0 37 Research of historical bond ratings for comparable cases Carlson, Q. 31-Jul-01 275 1.0 275.0 41 Discussion with J. Peko re restructuring plan 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C I I PCD IProfessional Date I Rate Hours I Fees K Code Comments Carlson, Q. 1-Aug-01 275 2.5 687.5 41 Preparation for meeting re: presentation to creditors committee re: proposed debt structure in POR Carlson, Q. 1-Aug-01 275 1.4 385.0 41 Research identifying current mortgage bondholders Carlson, Q. 6-Aug-01 275 2.1 577.5 5 Research other solvent bankruptcies and treatment of creditors (Dow Coming and Finova)

Carlson, Q. 7-Aug-01 275 3.5 962.5 41 Prepare summary of discussion points on 8-6 conference call with M. Donnelly and other Carlson, Q. 8-Aug-01 275 3.2 880.0 41 Determining cash distribution to mtg bondholders with a fractional share issue pursuant to the latest restructuring plan Carlson, Q. 8-Aug-01 275 3.1 852.5 41 Revising financial restructuring model Carlson, Q. 8-Aug-01 275 2.5 687.5 5 Research holders of Mtg bondholders and preparing summary report of the owners.

Carlson, Q. 9-Aug-01 275 2.3 632.5 41 Preparation of analysis to be provided to Debtor re: 3 restructuring scenarios.

Carlson, Q. 9-Aug-01 275 1.8 495.0 41 Review amend creditor treatment model and discuss with J. Peko.

Carlson, Q. 9-Aug-0 1 275 1.0 275.0 41 Mtg w/ M. Donnelly disc 3 scenarios re restructuring (1-refi mtg bonds, 2-4 B of new money & 3 10 B of new money)

Carlson, Q. 9-Aug-01 275 0.6 165.0 41 Meeting with J. Peko regarding amended allocation of cash and notes.

Carlson, Q. 13-Aug-01 275 3.7 1,017.5 41 Research treasury yields on various maturities Carlson, Q. 13-Aug-01 275 2.7 742.5 41 Prepare model for delivery to M. Donnelly showing the latest allocations to the newly formed Carlson, Q. 13-Aug-01 275 1.3 357.5 41 Incorporating the latest changes to the maturity profile of debt instruments per J. Peko and M.

Donnelly discussion Carlson, Q. 13-Aug-01 275 0.6 165.0 41 Discuss MTN interest rate model with J. Peko.

Carlson, Q. 14-Aug-01 275 3.5 962.5 41 Working on debt restructuring model to create various scenarios that optimize the excess loss Carlson, Q. 14-Aug-01 275 2.4 660.0 41 Review debt reorganization section of the disclosure statement Carlson, Q. 14-Aug-01 275 1.2 330.0 46 Preparation of time and expense detail related to July Carlson, Q. 15-Aug-01 275 3.1 852.5 37 Meeting with M. Donnelly regarding the "Funding Gap" and risks related to the plan Carlson, Q. 15-Aug-01 275 2.8 770.0 41 Creating mortgage collateral coverage analysis reflecting latest version of the restructuring plan Carlson, Q. 15-Aug-01 275 2.3 632.5 41 Drafting memo outlining the three showstopper risks - funding gap, capital market execution and the allocation to creditor risks Carlson, Q. 15-Aug-01 275 0.4 110.0 41 Discuss structure of financial model for debt optimization strategy with J. Peko.

Carlson, Q. 16-Aug-01 275 2.4 660.0 41 Finalizing document re: risks associated with plan for M. Donnelly Carlson, Q. 16-Aug-01 275 2.4 660.0 37 Draft preliminary write-up of other risks associated with plan (ie. Interest rate risk, PC L/C drawn risk, ability to raise new money) 17-Aug-01 275 0.3 82.5 41 Call with J. Peko regarding ELA scenarios and risk issues.

Carlson, Q.

Carlson, Q. 20-Aug-01 275 6.5 1,787.5 41 Preparation for the meeting with L. Barnes discussing the matrix of PX I ISO and Mortgage Cash

% plan Carlson, Q. 20-Aug-01 275 0.5 137.5 37 Discussion with L. Barnes and M. Donnelly regarding the matrix of PX / ISO and mortgage payout scenarios 22-Aug-01 275 4.3 1,182.5 46 Preparing invoice for July services to the debtor Carlson, Q.

Carlson, Q. 22-Aug-01 275 2.1 577.5 41 Preparation and analysis of debt instrument meeting - summaries of creditor recoveries assuming

$7 billion of new money 22-Aug-01 275 1.4 385.0 46 Preparing projections of EYCA's monthly fee estimates for the Debtor Carlson, Q.

22-Aug-01 275 1.2 330.0 41 Claims allocation analysis with J. Peko Carlson, Q.

Q. 22-Aug-01 275 0.5 137.5 37 Discussion with Y. Liang (Andersen) regarding debt restructuring model Carlson, Carlson, Q. 22-Aug-01 275 0.2 55.0 41 Discussion with J. Peko regarding capital structure.

Carlson, Q. 23-Aug-01 275 2.2 605.0 41 Check calculation of post-petition interest 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C PCD IProfessional I Date IRate Hours Fees I Code Comments Carlson, Q. 23-Aug-01 275 1.2 330.0 37 Revising pre-petition claim amounts related to certain debt instruments because of interest accrual Carlson, Q. 23-Aug-01 275 0.3 82.5 37 Analysis preparation re status of defaulted QUID's Carlson, Q, 24-Aug-01 275 4.0 1,100.0 37 Pre-petition vs post-petition interest analysis Carlson, Q. 24-Aug-01 275 1.2 330.0 41 Discussions with J. Peko regarding pre/post petition interest.

Carlson, Q. 27-Aug-01 275 3.1 852.5 37 Estimating the weighted average cost of debt related to the new entities for K. Tappero Carlson, Q. 27-Aug-01 275 2.7 742.5 37 Applying appropriate rates to determine interest expense during the period between final coupon and confirmation Carlson, Q. 27-Aug-01 275 1.5 412.5 37 Research off maturity treasury yields to determine appropriate interest rates for old and new debt in connection with plan Carlson, Q. 27-Aug-01 275 1.5 412.5 37 Preparing final spreadsheet indicating pre vs post petition Carlson, Q. 28-Aug-01 275 2.5 687.5 41 Updating restructuring model to reflect latest disclosure statement and creditor treatment Carlson, Q. 28-Aug-01 275 1.0 275.0 41 Reading disclosure statement Carlson, Q. 30-Aug-01 275 2.9 797.5 37 Revising pre and post petition interest calculation to reflect latest thinking on debt instruments and negotiated interest rates Carlson, Q. 4-Sep-01 275 2.1 577.5 41 Meetings with M. Donnelly and K. Lee discussing claim amounts in latest disclosure statement Carlson, Q. 4-Sep-01 275 0.5 137.5 41 Meeting with S. Ledoux, J. Peko, M. Donnelly, J. Maguire, J. Savage discussing POR Carlson, Q. 5-Sep-01 275 2.5 687.5 37 Revising post-petition interest calculation Carlson, Q. 5-Sep-01 275 0.5 137.5 37 Discussions with B. Shaw and K. Lee re post-petition interest calculation incl DWR, PC MBIA bonds, and Commercial Paper Carlson, Q, 5-Sep-01 275 0.3 82.5 41 Analyze DS issues with J. Peko Carlson, Q. 6-Sep-01 275 1.5 412.5 37 Reconciling difference between two different post-petition interest calculations Carlson, Q. 6-Sep-01 275 0.4 110.0 41 Analyze debt capacity with J. Peko Carlson, Q. 7-Sep-01 275 3.5 962.5 41 Participate in meeting with R. Morrison, K. Tappero, L. Barnes, J. Peko and M. Donnelly re pollution control bonds Carlson, Q. 7-Sep-01 275 1.5 412.5 41 Adjusting debt allocation model to reflect the latest thinking resulting from meeting re pollution control bonds Carlson, Q. 7-Sep-01 275 0.3 82.5 41 Discussion with J. Peko re: pre-petition claims.

Carlson, Q. 7-Sep-01 275 0.2 55.0 41 Discussion of assignment with J. Peko Carlson, Q. 10-Sep-01 275 2.2 605.0 41 Researching prior bankruptcies re the application of the federal judgment rate Carlson, Q. 13-Sep-01 275 2.4 660.0 41 Revising debt restructuring model to incorporate latest thinking on the POR and disclosure Carlson, Q. 13-Sep-01 275 0.5 137.5 41 Providing a response to J. Tabor regarding the claim amounts applicable to each creditor class in Carlson, Q. 13-Sep-01 275 0.2 55.0 41 Discussions with M. Donnelly re post-petition interest calculation Carlson, Q. 14-Sep-01 275 2.5 687.5 41 Making adjustments to debt restructuring model Carlson, Q. 17-Sep-01 275 2.7 742.5 41 Revising debt allocation model Carlson, Q. 17-Sep-01 275 1.9 522,5 41 Refining pre and post-petition interest calculation on the PC MBIA and PC LC debt Carlson, Q. 17-Sep-01 275 1.2 330.0 41 Meeting with M. Donnelly re total new debt projections at each entity Carlson, Q. 17-Sep-01 275 0.5 137.5 37 Discussion with K. Tappero re working capital requirements associated with each line of business Carlson, Q. 17-Sep-01 275 0.5 137.5 37 Analysis of the working capital liability assumptions and the resulting impact on tax basis Carlson, Q. 17-Sep-01 275 0.3 82.5 41 Discussions with K. Tappero / J. Peko re: preferred stock treatment.

Carlson, Q. 18-Sep-01 275 2.5 687.5 41 Preparation for meeting with W. Campbell, M. Donnelly and M. Bogyo including revising debt restructuring model Carlson, Q. 18-Sep-01 275 2.5 687.5 41 Revising debt restructuring model incorporating the latest projections and debt coverage 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C PCD IProfessional Date Rate Hours Fees Code Comments Carlson, Q. 18-Sep-01 275 1.5 412.5 41 Meetings with M. Donnelly regarding the appropriate numbers to be referenced in the disclosure statement drafts Carlson, Q. 18-Sep-01 275 1.1 302.5 37 Discussions with B. Shaw and J. Peko regarding several issues such as post-petition interest calculations, financing transaction fees and wtd cost of debt Carlson, Q. 18-Sep-01 275 0.5 137.5 37 Prepared analysis for K. Tappero regarding the maturity profiles of the newly issued debt, restructured debt and PC debt Carlson, Q. 18-Sep-01 275 0.5 137.5 41 Meeting with W. Campbell, M. Donnelly and M. Bogyo reviewing the disclosure statement Carlson, Q. 28-Sep-01 275 0.3 82.5 41 Discussion with J. Peko re: 100% cash for interest and corresponding debt issues.

Carlson, Q. 6-Nov-01 275 2.6 715.0 41 Maintaining integrated financial model to reflect open issues re: POR Carlson, Q. 6-Nov-01 275 2.3 632.5 41 Updated financial restructuring model according to latest estimate of cash balance at confirmation Carlson, Q. 30-Nov-01 275 3.4 935.0 41 Prepared summaries of new operating companies' debt structure and maturity profile Carlson, Q. 10-Dec-01 275 2.9 797.5 41 Reviewing case status and analyze open issues (cash generation, allocation of debt to post bankruptcy entities)

Carlson, Q. 10-Dec-01 275 2.7 742.5 41 Updating / maintaining financial model to reflect potential amendments to the POR Carlson, Q. 22-Mar-02 275 2.4 660.0 46 Preparing fee application for period July 2001 through the end of March 2002 Carlson, Q. 24-Mar-02 275 2.5 687.5 46 Organizing EYCF professionals time Carlson, Q. 24-Mar-02 275 1.1 302.5 46 Compiling detail reports for Fee Application #2 Carlson, Q. 25-Mar-02 275 3.6 990.0 46 Integrating time and expense information into fee application detail database Carlson, Q. 25-Mar-02 275 2.5 687.5 46 Preparation of fee application signature page / time descriptions Carlson, Q. 27-Mar-02 275 3.1 852.5 46 Fee application #2 preparation - finishing report Carlson, Q. Total 247.0 67,924.5 Frazier, D. 2-Jul-01 340 2.8 952.0 22 Preparation of misc. materials for traige team meeting Frazier, D. 2-Jul-01 340 2.4 816.0 22 Prepare misc. analayses for C. Taylor & T. Tullis Frazier, D. 2-Jul-01 340 1.5 510.0 22 Organize claims process tasks to do Frazier, D. 3-Jul-01 340 3.2 1,088.0 22 Analysis and continued preparation of claims dispute resolution materials Frazier, D. 3-Jul-01 340 0.8 272.0 22 Meeting w/ Kevin Dowd and Claims Resolution team Frazier, D. 5-Jul-01 340 3.4 1,156.0 22 Preparation of misc. materials for claims team meeting Frazier, D. 5-Jul-01 340 1.0 340.0 22 Daily claims resolution team meeting with Kevin Dowd and Mike Schonherr Frazier, D. 5-Jul-01 340 0.6 204.0 22 Update category analysis Frazier, D. 5-Jul-01 340 0.6 204.0 22 Meeting with Megan Ardell -- discuss next steps for roles and responsibilities Frazier, D. 5-Jul-01 340 0.4 136.0 22 Discussions with J. Thomas re: claims management process Frazier, D. 5-Jul-01 340 0.4 136.0 22 E-mail several claims roles and responsibilities documents to Mike Schonherr for review Frazier, D. 6-Jul-01 340 1.9 646.0 22 Create list of Berger open items and distribute to claims team for comments Frazier, D. 6-Jul-01 340 1.5 510.0 22 Review claims report analysis and forward to Mike Schonherr and Megan Ardell for comments Frazier, D. 6-Jul-01 340 1.2 408.0 22 Discussions with Q. Carlson re: claims resolution process Frazier, D. 6-Jul-01 340 0.9 306.0 22 Discussions with Jason Thomas regarding open claims projects and next steps Frazier, D. 6-Jul-01 340 0.8 272.0 5 Review and file documents sent to PWC per data request Frazier, D. 6-Jul-01 340 0.6 204.0 22 Discussions with Megan Ardell to discuss claims process Frazier, D. 6-Jul-01 340 0.3 102.0 22 Discussions with Quinn Carlson to discuss claims report Frazier, D. 9-Jul-01 340 2.6 884.0 22 Allocate unscheduled claims categories into "buckets" and distribute to M. Schonherr for comments Frazier, D. 9-Jul-01 340 0.8 272.0 22 Discussions with Megan Ardell re detailed claims lists and required assistance for team lead trng Frazier, D. 9-Jul-01 340 0.5 170.0 22 Discussion with J. Thomas re; resolution team lead training materials 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C IIProfessional

[ Professional I I Ilours I I Code PCD Date Rate L I Fees K Comments Frazier, D. 9-Jul-01 340 0.4 136.0 22 Discussions with M. Schonherr re: unscheduled claim category analysis Frazier, D. 9-Jul-01 340 0.3 102.0 22 Communcations with Jason Thomas re: unscheduled claims categories Frazier, D. 10-Jul-01 340 4.3 1,462.0 22 Summary analysis of POC recipients not on schedule Frazier, D. 10-Jul-01 340 0.9 306.0 22 Discussions with Quinn Carlson re: POC schedule analysis Frazier, D. 10-Jul-01 340 0.8 272.0 22 Discussions with Jason Thomas re: POC summary schedules Frazier, D. 10-Jul-01 340 0.6 204.0 22 Discussions with Mike Schonherr Frazier, D. 10-Jul-01 340 0.5 170.0 22 Discussions with Q. Carlson re: claims resolution process Frazier, D. 11-Jul-0 1 340 3.7 1,258.0 22 Prepare materials for team lead meeting Frazier, D. 11-Jul-0 1 340 2.6 884.0 22 Write/ review/ distribute team lead e-mail providing lists of claims Frazier, D. 11-Jul-0 1 340 1.8 612.0 22 Dispute resolution team lead meeting Frazier, D. 11-Jul-01 340 0.6 204.0 22 Discussion with Q. Carlson and J. Thomas re: status of claims management process Frazier, D. 11-Jul-01 340 0.4 136.0 22 Speak with Megan Ardell regarding next steps Frazier, D. 12-Jul-01 340 0.9 306.0 5 Review items sent by Dick Patterson to PWC regarding data request Frazier, D. 13-Jul-0 1 340 1.1 374.0 37 Bloomberg analysis of PG&E debt Frazier, D. 13-Jul-0 1 340 0.6 204.0 41 Discussion with J. Thomas and Q. Carlson re: procedures for determining large holders of PGE Frazier, D. 16-Jul-0 1 340 1.8 612.0 22 Legal meeting with Mari Snyder, Kevin Dowd, Mike Schonherr, Megan Ardell, et. Al.

Frazier, D. 16-Jul-01 340 0.8 272.0 22 Discussion with Quinn Carlson to discuss status of detailed claim analysis Frazier, D. 17-Jul-0 I 340 2.2 748.0 22 Create agenda for Megan Ardell for Berger database training for team leads and claims team Frazier, D. 17-Jul-0 I 340 1.5 510.0 5 Discuss with PG&E staff and Marg Neis (PWC) to track down creditor commitee requested Schedule F cd rom of SOFA statements Frazier, D. 17-Jul-0 1 340 1.1 374.0 26 Meet with Dick Patterson and pwc team regarding recent analyses Frazier, D. 17-Jul-0 1 340 0.5 170.0 22 Discussions with Megan Ardell Frazier, D. 19-Jul-01 340 0.7 238.0 5 Review items sent by Dick Patterson to PWC regarding data request Frazier, D. Total 56.3 19,142.0 Peko, J. 25-Jun-01 475 4.5 2,137.5 41 Conference Call - Financial Instrument Team Peko, J. 28-Jun-01 475 2.6 1,235.0 41 Conference Call - Financial instrument team.

Peko, J. 29-Jun-0 1 475 0.6 285.0 41 Model input for mortgage bonds.

Peko, J. 29-Jun-01 475 0.4 190.0 41 Phone call with John Plaster (Lehman) and completed spreadsheet for Mortgage bond.

Peko, J. 2-Jul-01 475 1.4 665.0 41 Call with Mike Donnelly regarding Mortgage bond pricing and qualifying long term exchange Peko, J. 2-Jul-01 475 0.5 237.5 41 Review WGM draft term sheets 6/29 for new debt and restructuring old debt.

Peko, J. 2-Jul-01 475 0.5 237.5 41 Call with Lee Jay related to tax issues & reinstatement of Mortgage bonds and the ability to treat tranches discretely.

Peko, J. 3-Jul-01 475 0.4 190.0 41 Discussed & analyzed reorg impact on mortgage bond holders with Mike Kessler - minimize tax and interest cost.

Peko, J. 3-Jul-01 475 0.2 95.0 41 Discussed mortgage bond calls with Jay Tabor.

Peko, J. 5-Jul-01 475 0.6 285.0 41 Analyze memo prepared by Stuart Goldring related tax considerations discussed on June 29.

Peko, J. 5-Jul-01 475 0.3 142.5 41 Analyze Mike Donnelly's spreadsheet related to tax basis and allocation of debt.

Peko, J. 5-Jul-01 475 0.2 95.0 41 Call w/ J. Tabor re call provisions/redemption provisions/ability to classify different series as separate classes on the mortgage debt Peko, J. 5-Jul-01 475 0.2 95.0 41 Call with Mike Donnelly to analyze & review findings of Jay Tabor related to flexibility to call &

reinstate mortgage bonds.

Peko, J. 6-Jul-01 475 1.8 855.0 41 Conference Call related to tax implications of finco structure 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C PCD IProfessional I IRate Hours Fees I Code Comments Peko, J. 6-Jul-01 475 0.6 285.0 41 Analyze amended term sheet from WGM Peko, J. 6-Jul-01 475 0.5 237.5 41 Analyze current bank list and suggest new potential bank candidates Peko, 1. 9-Jul-01 475 6.0 2,850.0 41 Analyze tax compliant semi-prorata Jigsaw (with the new residual Finco) debt allocation work Peko, J. 9-Jul-01 475 1.5 712.5 41 Review term sheet with Mike Donnelly highlighting key areas of focus related to mortgage and p/c bonds.

Peko, J. 9-Jul-01 475 1.2 570.0 41 Review and analyze mortgage indenture for First and Refuding Mortgage bonds.

Peko, J. 10-Jul-01 475 2.7 1,282.5 41 Develop debt allocation and maturity schedule for existing and new debt.

Peko, J. 10-Jul-01 475 1.9 902.5 41 Conference Call related to mortgage and P/C bond structuring. Analyzing impairment, restatement and tax consequences.

Peko, J. 10-Jul-01 475 1.4 665.0 41 Conference call with I/c counsel to creditors positions related providing credit enhancement for bond issues.

Peko, J. 10-Jul-01 475 0.4 190.0 41 Review and analyze summary terms for restructured PC bonds.

Peko, J. 10-Jul-01 475 0.3 142.5 41 Discussion to clarify mortgage release impact on tax treatment of PC bonds.

Peko, J. 10-Jul-01 475 0.1 47.5 41 Clarification of collateral release on mortgage bond with Doreen Ludermann.

Peko, J. 11-Jul-01 475 3.4 1,615.0 41 Mtg for Financial team to evaluate Finco structure, allocation of debt & review revised team sheets for pc bonds.

Peko, J. 11-Jul-01 475 1.1 522.5 41 Analyze and quantify potential savings on selectively reinstating mortgage bonds.

Peko, J. 11-Jul-01 475 0.6 285.0 41 Review PC bond term sheet.

Peko, J. 12-Jul-01 475 3.5 1,662.5 41 Finance team meeting to evaluate structure for Mortgage and mortgage backed PC bonds.

Peko, J. 12-Jul-01 475 1.9 902.5 41 Build PC bond spreadsheet and analyze potential cost saving related reinstating pc bonds.

Peko, J. 12-Jul-01 475 0.7 332.5 41 Meeting with Mike Donnelly to discuss PV savings of PC bonds vs. tax implications of excess tax basis if considered assumed debt.

Peko, J. 13-Jul-01 475 3.0 1,425.0 41 Finance team meeting related to PC and Mortgage debt restructuring related to tax implications and redrafting terms & conditions.

Peko, J. 13-Jul-01 475 0.9 427.5 41 Mtg with Mike Donnelly re creditors reaction to POR and began to lay out strategy on how to allocate restructured debt.

Peko, J. 13-Jul-01 475 0.5 237.5 41 Meeting with M. Kassisieh to rework debt allocations among new operating cos.

Peko, J. 16-Jul-01 475 0.6 285.0 41 Review amended term sheet drafts of PC, restructured and new debt offerings.

Peko, J. 16-Jul-01 475 0.5 237.5 41 Compare PC bond PV savings with Ken Lee and discuss analysis and methodology behind Peko, J. 16-Jul-01 475 0.5 237.5 41 Call with Mike Donnelly and Mike Kessler related to interest rate costs - Federal rates vs.

Contractual rates.

Peko, J. 16-Jul-01 475 0.5 237.5 41 Analyze amended maturity profiles.

Peko, J. 16-Jul-01 475 0.2 95.0 41 Call with Doreen Ludemann to discuss disaggregation of mortgage collateral.

Peko, J. 16-Jul-01 475 0.2 95.0 41 Review and amend POR work plan.

Peko, J. 17-Jul-01 475 2.4 1,140.0 41 Conference Call with Finance team to review term sheets for PC, restructured and new debt issues.

Peko, J. 17-Jul-01 475 2.0 950.0 41 Analyze first draft of disclosure statement.

Peko, J. 17-Jul-01 475 1.0 475.0 41 Conference call with Mike Donnelly and Jeremy McGuire related sizing, maturities, and liquidity of new debt offerings.

Peko, J. 17-Jul-01 475 0.7 332.5 41 Disc w/ L. Jay, B. Lange, T. Huntley and D. Ludemann related to release of assets under current mortgage indenture and value of newcos Peko, J. 17-Jul-01 475 0.5 237.5 41 Review and analyze old and new mortgage comparison chart produced by D. Mao.

Peko, J. 18-Jul-01 475 5.3 2,517.5 41 Conference Call - review and amend first draft of disclosure statement.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31 st, 2002 Exhibit C PCD iProfessional I Date IRate Hours Fees I Code Comments Peko, J. 18-Jul-01 475 1.3 617.5 41 Adjust debt allocations and maturity profiles to reflect changes based on amended disclosure Peko, J. 18-Jul-01 475 1.0 475.0 41 Review and provide comments on 1st draft of disclosure statement.

Peko, J. 18-Jul-01 475 0.2 95.0 41 Discussion with Mike Bogyo related to potential interest rates on Finco notes.

Peko, J. 19-Jul-01 475 1.7 807.5 41 Mtg w/ Orrick, WGM and D. Ludemann re collateral release under mortgage and impact on disaggregation & non-impairment strategy.

Peko, J. 19-Jul-01 475 0.9 427.5 41 Meeting with Q. Carlson and J. Thomas re: POR and refinancing issues Peko, J. 19-Jul-01 475 0.8 380.0 41 Discussion with Q. Carlson and J. Thomas re: debt restructuring plan Peko, J. 19-Jul-01 475 0.6 285.0 41 Review and analyze spreadsheets from D. Ludemann related to unreimbursed capex calculations.

Peko, J. 19-Jul-01 475 0.5 237.5 41 Call with Orrick related to asset releases to the Newcos under the mortgage indenture.

Peko, J. 19-Jul-01 475 0.4 190.0 41 Call Orrick related to collateral release provisions under mortgage indenture and possible tax implications.

Peko, J. 19-Jul-01 475 0.4 190.0 41 Call with Lehman to discuss market rates for newcos and potential terms for mortgage bonds.

Peko, J. 19-Jul-01 475 0.3 142.5 41 Brief Mike Donnelly on attorney findings related to unimpaired mortgage strategy.

Peko, J. 19-Jul-01 475 0.2 95.0 41 Call with M. Kessler related to bankruptcy treatment of collateral release under mortgage bonds.

Peko, J. 19-Jul-01 475 0.2 95.0 41 Amended mortgage debt financial model.

Peko, J. 19-Jul-01 475 0.2 95.0 41 Review creditor class breakdown for disclosure statement provided by Orrick.

Peko, J. 20-Jul-01 475 0.3 142.5 41 Prepare updated spreads by newco for Mike Bogyo.

Peko, J. 23-Jul-01 475 2.7 1,282.5 41 Non-Working Travel time Peko, J. 23-Jul-01 475 1.7 807.5 41 Review and amend presentation on Finco structure by Lehman.

Peko, J. 23-Jul-01 475 1.2 570.0 41 Review and comment on updated disclosure statement.

Peko, J. 23-Jul-01 475 0.4 190.0 41 Review updated debt allocation and recommend new debt maturity profiles.

Peko, J. 23-Jul-01 475 0.3 142.5 41 Review updated summary terms and conditions for restructured debt.

Peko, J. 23-Jul-01 475 0.2 95.0 41 Review industry and spread commentary from BofA.

Peko, J. 23-Jul-01 475 0.1 47.5 41 Call with B. Lange regarding debt convenants coordination with Lehman.

Peko, J. 24-Jul-01 475 3.0 1,425.0 41 Finance team call to consolidate comments and amend draft disclosure statement.

Peko, J. 24-Jul-01 475 1.5 712.5 41 Discuss with Q. Carlson re maturities of restructured debt.

Peko, J. 24-Jul-01 475 1.1 522.5 41 Call with credit committee professionals to explain Finco structure.

Peko, J. 24-Jul-01 475 0.7 332.5 41 Call with Lehman/Orrick related debt covenant packages for mortgage, unsecured and sub debt.

Peko, J. 24-Jul-01 475 0.5 237.5 41 Update M. Donnelly on required covenants and potent ial call provisions for mortgage debt.

Peko, J. 24-Jul-01 475 0.5 237.5 41 Review disclosure statement.

Peko, J. 24-Jul-01 475 0.2 95.0 41 Call with John Paster discussing secondary spreads.

Peko, J. 24-Jul-01 475 0.2 95.0 41 Amend maturity profile and class breakdown.

Peko, J. 24-Jul-01 475 0.1 47.5 41 Review spreads with M. Bogyo.

Peko, J. 25-Jul-01 475 3.0 1,425.0 41 Develop new maturity profile for new and restructured debt. Discussed with M. Donnelly and Q.

Carlson.

Peko, J. 25-Jul-01 475 1.5 712.5 41 Review draft POR.

Peko, J. 25-Jul-01 475 0.8 380.0 41 Discussion with J. Thomas and Q. Carlson re: debt restructuring plan 25-Jul-01 475 0.4 190.0 41 Review draft POR.

Peko, J.

Peko, J. 26-Jul-01 475 1.0 475.0 41 Conference Call with WGM Donnelly, Benz related to tax basis issues on spin.

Peko, J. 26-Jul-01 475 0.6 285.0 41 Analyze tax implication of spin with WGM and G. Benz.

Peko, J. 26-Jul-01 475 0.4 190.0 41 Review amended maturity schedule with M. Donnelly.

Peko, J. 26-Jul-01 475 0.3 142.5 41 Analyze no cash to mortgage holders option and impact on collateral coverage.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C PCD iProfessional Date Rate Hours Fees I Code Comments Peko, J. 26-Jul-01 475 0.3 142.5 41 Analyze collateral coverage post spin.

Peko, J. 26-Jul-01 475 0.2 95.0 41 Discussion with B. Lange related to bond covenants.

Peko, J. 26-Jul-01 475 0.2 95.0 41 Call with Mike Donnelly regarding no cash mortgage option and impact on collateral.

Peko, J. 26-Jul-01 475 0.2 95.0 41 Review market spread and weekly update from BofA Sec.

Peko, J. 26-Jul-01 475 0.2 95.0 41 Debrief on meeting with Rothschild and discuss cram up strategy.

Peko, J. 27-Jul-0 I 475 2.1 997.5 41 Discussions with Q. Carlson re: debt restructuring model and developing of consistent allocations of restructured securities under POR Peko, J. 27-Jul-01 475 1.0 475.0 41 Review amended covenant packages for debt securities.

Peko, J. 27-Jul-0 I 475 0.3 142.5 41 Call with Mike Donnelly to discuss zero cash mortgage option.

Peko, J. 27-Jul-01 475 0.3 142.5 41 Call with B. Lange regarding debt covenants.

Peko, J. 27-Jul-01 475 0.2 95.0 41 Review amended maturity schedules for restructured debt.

Peko, J. 31-Jul-01 475 2.0 950.0 41 Meeting with Rothschild related to debt structure.

Peko, J. 3 1-Jul-01 475 1.0 475.0 41 Review and provide comments on debt term and conditions and follow-up call with B. Lange.

Pcko, J. 31-Jul-01 475 1.0 475.0 41 Discussions with Q. Carlson re: restructuring plan Peko, J. 31-Jul-01 475 0.5 237.5 41 Research credit ratings history on El Paso and Public Service New Hampshire.

Peko, J. 31-Jul-01 475 0.5 237.5 41 Analyze post petition interest memo provided byWGM.

Peko, J. 31-Jul-01 475 0.4 190.0 41 Research disclosure does for El Paso and Public Service New Hampshire.

Peko, J. 3 1-Jul-01 475 0.3 142.5 41 Review Cajun Electric disclosure documents section related ot treatment of mortgage bond holders.

31-Jul-01 475 0.1 47.5 41 Call with B. Lange regarding bond covenants.

Peko, J.

31-Jul-01 475 0.1 47.5 41 Discussion with WGM regarding El Paso and Public Ser Ni Peko, J.

1-Aug-01 475 2.5 1,187.5 41 Meeting with M. Donnelly, Rothschild, Lehman to discuss treatment of creditors.

Peko, J.

Peko, J. 1-Aug-01 475 2.5 1,187.5 41 Meeting with M. Donnelly, Rothschild, Lehman to discuss treatment of creditors.

Peko, J. 1-Aug-01 475 2.0 950.0 41 Review disclosure statements and treatment of mortgage holders for El Paso and PS New Peko, J. 1-Aug-01 475 2.0 950.0 41 Review disclosure statements and treatment of mortgage holders for El Paso and PS New 1-Aug-01 475 1.1 522.5 41 Meeting to discuss breakdown and treatment of classes for POPR, Peko, J.

1-Aug-01 475 1.1 522.5 41 Meeting to discuss breakdown and treatment of classes for PORl Peko, J.

I-Aug-01 475 0.6 285.0 41 Meeting with L. Barnes, K. Harvey etal regarding Finco structure.

Peko, J.

1-Aug-01 475 0.6 285.0 41 Meeting with L. Barnes, K. Harvey etal regarding Finco structure.

Peko, J.

1-Aug-01 475 0.4 190.0 41 Analyze amended restructured debt schedules after adjustments to ISO and Generator Claims.

Peko, J.

1-Aug-01 475 0.4 190.0 41 Analyze amended restructured debt schedules after adjustments to ISO and Generator Claims.

Peko, J.

1-Aug-01 475 0.3 142.5 41 Discussion with B. Lange related to debt covenant package.

Peko, J.

1-Aug-01 475 0.3 142.5 41 Discussion with B. Lange related to debt covenant package.

Peko, J.

1-Aug-01 475 0.2 95.0 41 Call with B. Lange to discuss treatment of fractional bondholders, Peko, J.

1-Aug-01 475 0.2 95.0 41 Call with B. Lange to discuss treatment of fractional bondholders.

Peko, J.

Peko, J. 2-Aug-01 475 1.5 712.5 41 Discussion with M. Donnelly and WGM regarding creditor claim classes and review of creditor committee position on current POR.

2-Aug-01 475 1.5 712.5 41 Discussion with M. Donnelly and Rothschild related to creditor class allocation.

Peko, J.

2-Aug-01 475 1.5 712.5 41 Discussion with M. Donnelly and Rothschild related to creditor class allocation.

Peko, J.

2-Aug-01 475 1.5 712.5 41 Discussion with M. Donnelly and WGM regarding creditor claim classes and review of creditor Peko, J.

committee position on current POR.

2-Aug-01 475 1.1 522.5 41 Meeting with Kassiesieh to discuss initial treatment of creditors.

Peko, J.

2-Aug-01 475 1.1 522.5 41 Meeting with Kassissieh to discuss initial treatment of creditors.

Peko, J.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C I I IProfessional Peko, J.

I Date 2-Aug-01 I

II Rate 475 Hours 1.0 Fees 475.0 I

PCD K Code41 IComments Analyze amended debt covenant package from Orrick.

Peko, J. 2-Aug-01 475 1.0 475.0 41 Analyze amended debt covenant package from Orrick.

Peko, J. 2-Aug-01 475 0.7 332.5 41 Prepare and review agenda and strategy for creditor classification meeting.

Peko, J. 2-Aug-01 475 0.7 332.5 41 Prepare and review agenda and strategy for creditor classification meeting.

Peko, J. 2-Aug-01 475 0.6 285.0 41 Review El Paso disclosure document.

Peko, J. 2-Aug-01 475 0.6 285.0 41 Review El Paso disclosure document, Peko, J. 2-Aug-01 475 0.5 237.5 41 Review document outlining default interest rates prepared by E&Y.

Peko, J. 2-Aug-01 475 0.5 237.5 41 Review document outlining default interest rates prepared by E&Y.

Peko, J. 2-Aug-01 475 0.3 142.5 41 Discussion with M. Donnelly regarding default interest rates on outstanding debt.

Peko, J. 2-Aug-0 I 475 0.3 142.5 41 Discussion with M. Donnelly regarding default interest rates on outstanding debt.

Peko, J. 2-Aug-01 475 0.2 95.0 41 B. Lange discuss bond issues with non-default interest.

Peko, J. 2-Aug-01 475 0.2 95.0 41 B. Lange discuss bond issues with non-default interest.

Peko, J. 3-Aug-01 475 1.5 712.5 41 Research post petition interest treatment.

Peko, J. 3-Aug-01 475 1.5 712.5 41 Research post petition interest treatment.

Peko, J. 3-Aug-01 475 0.4 190.0 41 Analyze amended debt restructuring allocations and profile.

Peko, J. 3-Aug-01 475 0.4 190.0 41 Analyze amended debt restructuring allocations and profile.

Peko, J. 6-Aug-01 475 3.3 1,567.5 41 Prep and conference call with PGE, WGM and Rothschild re: creditor classes and post petition interest issues.

Peko, J. 7-Aug-01 475 2.0 950.0 41 Research post petition interest issues.

Peko, J. 7-Aug-01 475 0.5 237.5 41 Discussion with Rothschild regarding creditor classes.

Peko, J. 7-Aug-01 475 0.5 237.5 41 Discuss research and collateral coverage issues with M. Donnelly.

Peko, J. 7-Aug-01 475 0.5 237.5 41 Review fractional share - cash requirements.

Peko, J. 7-Aug-01 475 0.4 190.0 41 Analyze current true mortgage coverage if no spin were executed and release or new issuance were executed.

Peko, J. 7-Aug-01 475 0.4 190.0 41 Review secured shareholder list.

Peko, J. 7-Aug-01 475 0.3 142.5 41 Analyze amended financial model prepared by M. Kassisieh.

Peko, J. 7-Aug-01 475 0.2 95X0 41 Analyze collateral coverage on mortgage bonds with Orrick.

Peko, J. 7-Aug-01 475 0.2 95.0 41 Discuss analysis of collateral coverage on mort bonds with M. Kassisieh.

Peko, J. 8-Aug-01 475 3.0 1,425.0 41 Meeting with Rothschild and M. Donnelly regarding creditor treatment and creditor recovery Peko, J. 8-Aug-01 475 1.5 712.5 41 Discussions with Orrick, WGM and M. Donnelly regarding all cash strategy for creditors.

Peko, J. 8-Aug-01 475 0.8 380.0 41 Update PC model and analyze PV savings vs. taxable new issue.

Peko, J. 8-Aug-01 475 0.5 237.5 41 Review to do list with M. Donnelly resulting from conference call Mon. 8/6/0 1.

Peko, J. 8-Aug-01 475 0.5 237.5 41 Meeting with M. Donnelly - discuss research issues and cash requirements for fractional shares.

Peko, J. 8-Aug-01 475 0.5 237.5 41 Discuss ELAs and constraints on new money relative to cash distributions to creditors.

Peko, J. 8-Aug-01 475 0.2 95.0 41 Analyze POR financing issues.

Peko, J. 8-Aug-01 475 0.2 95.0 41 Analyze cash requirements for fractional amounts under the mortgage bond.

Peko, J. 8-Aug-01 475 0.2 95.0 41 Discussion with Orrick regarding changes to creditor treatment.

Peko, J. 8-Aug-01 475 0.2 95.0 41 Analyze creditor recovery analysis prepared by Rothschild.

Peko, J. 9-Aug-01 475 1.8 855.0 41 Review amend creditor treatment model and discuss with Q. Carlson.

Peko, J. 9-Aug-01 475 1.1 522.5 41 Review financial model related to creditor treatment and presentation prepared by Q. Carlson.

Peko, J. 9-Aug-01 475 0.6 285.0 41 Meeting with M. Donnelly related to creditor class allocations.

Peko, J. 9-Aug-01 475 0.6 285.0 41 Meeting with Q. Carlson regarding amended allocation of cash and notes.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July Ist, 2001 through March 31st, 2002 Exhibit C I I I I I PCD Code lComments I Professional Date I Rate I flours I Fees 9-Aug-01 475 0.3 142.5 41 Analyze POR financing issues.

Peko, J.

Peko, J. 9-Aug-01 475 0.2 95.0 41 Discussion with M. Nachimson related to treatment of PC bond holders.

10-Aug-01 475 0.3 142.5 41 Review debt allocation financial model.

Peko, J.

Peko, J. 13-Aug-01 475 0.9 427.5 41 Meeting with M. Donnelly related to treatment of ISO PX, NOP resolution and debt strategy.

13-Aug-01 475 0.6 285.0 41 Discuss MTN interest rate model with Q. Carlson.

Peko, J.

Peko, J. 13-Aug-01 475 0.6 285.0 41 Analyze financial model quantifying PC bond savings prepared by Ken Lee.

13-Aug-0 1 475 0.4 190.0 41 Analyze Finova deal with M. Donnelly.

Peko, J.

Peko, J. 13-Aug-01 475 0.3 142.5 41 Discussions with Mike Donnelly regarding PC stipulation and debt strategy.

14-Aug-01 475 2.0 950.0 41 Creditor classification meeting.

Peko, J.

14-Aug-01 475 1.0 475.0 41 Analyze interest rate coverage and model prepared by Carlson.

Peko, J.

14-Aug-01 475 0.9 427.5 41 Research Finova creditor treatment - following confirmation.

Peko, J.

14-Aug-0 1 475 0.8 380.0 41 Meeting M. Donnelly and Rothschild related to creditor allocations.

Peko, J.

14-Aug-01 475 0.2 95.0 41 Discussion with M. Donnelly regarding valuations.

Peko, J.

14-Aug-01 475 0.2 95.0 41 Analyze allocation model amendment prepared by Carlson.

Peko, J.

15-Aug-01 475 2.5 1,187.5 41 Meeting with M. Donnelly regarding risk issues.

Peko, J.

15-Aug-01 475 1.0 475.0 41 Meeting with M. Donnelly regarding allocation models.

Peko, J.

15-Aug-01 475 1.0 475.0 41 Build and test PC collateral financial model.

Peko, J.

15-Aug-01 475 0.8 380.0 41 Meeting with M. Donnelly regarding potential POR risk matters.

Peko, J.

15-Aug-01 475 0.5 237.5 41 Draft initial risk issues.

Peko, J.

15-Aug-01 475 0.4 190.0 41 Discuss structure of financial model for debt optimization strategy with Q. Carlson.

Peko, J.

15-Aug-01 475 0.4 190.0 41 Analyze optimal debt structure.

Peko, J.

15-Aug-01 475 0.3 142.5 41 Analyze PC bond stipulation.

Peko, J.

16-Aug-01 475 2.4 1,140.0 41 POR drafting meeting.

Peko, J.

16-Aug-01 475 1.2 570.0 41 Meeting with M. Donnelly regarding collateralizing PC LC bonds and confirmation of claim Peko, J.

16-Aug-01 475 0.5 237.5 41 Prepare and review showstoppers memo.

Peko, J.

16-Aug-01 475 0.3 142.5 41 Analyze financial models.

Peko, J.

16-Aug-01 475 0.2 95.0 41 Call with R. Morrison related to PC bond collateral.

Peko, J.

17-Aug-01 475 1.5 712.5 41 Analyze risk issues related to plan.

Peko, J.

17-Aug-01 475 0.3 142.5 41 Analyze adjusted claims allocations.

Peko, J.

17-Aug-01 475 0.3 142.5 41 Analyze credit capacity from Margaret Wetter.

Peko, J.

17-Aug-01 475 0.3 142.5 41 Call with Q. Carlson regarding ELA scenarios and risk issues.

Peko, J.

17-Aug-01 475 0.2 95.0 41 Call with M. Donnelly related to ELA scenarios.

Peko, J.

17-Aug-01 475 0.2 95.0 41 Conference call with B. Lange to J. Plaster.

Peko, J.

18-Aug-01 475 1.4 665.0 41 Prepare and review secondary risk issues.

Peko, J.

18-Aug-01 475 0.3 142.5 41 Call with M. Donnelly regarding claims' allocations and post petition interest.

Peko, J.

18-Aug-0 1 475 0.2 95.0 41 Review rates in NEG credit agreement, cash note combos in e-mail from M. Donnelly.

Peko, J.

19-Aug-01 475 1.2 570.0 41 Analyze allocation model for maximum cash.

Peko, J.

19-Aug-01 475 0.4 190.0 41 Phone call with M. Donnelly regarding risk issues and claim allocations.

Peko, J.

19-Aug-01 475 0.3 142.5 41 Amend critical risk issues.

Peko, J.

20-Aug-01 475 1.0 475.0 41 Meeting with B. Shaw regarding interest payment calculations.

Peko, J.

20-Aug-01 475 0.6 285.0 41 Meeting with Ken Lee regarding interest rate calculations.

Peko, J.

20-Aug-01 475 0.4 190.0 41 Analyze interest calculations prepared by Ken Lee.

Peko, J.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C I Date II Rate I I I PCD Code [Comments I Professional Hours I Fees Peko, J. 20-Aug-01 475 0.2 95.0 41 Meeting with Arthur Anderson regarding collateral values.

Peko, J. 20-Aug-01 475 0.2 95.0 41 Sent out DS review notice.

Peko, J. 21-Aug-01 475 2.5 1,187.5 41 Review disclosure statement.

Peko, J. 21-Aug-01 475 1.9 902.5 41 Review amended disclosure statement.

Peko, J. 21-Aug-01 475 1.2 570.0 41 Conference call related to capital market issues.

21-Aug-01 475 0.5 237.5 41 Review POR Peko, J.

Peko, J. 2 1-Aug-01 475 0.3 142.5 41 Discussion with Rothschild related to allocations and interest calculations.

Peko, J. 2 1-Aug-01 475 0.3 142.5 41 Discussion with Rothschild regarding creditor treatment for DS.

Peko, J. 21-Aug-01 475 0.3 142.5 41 Analyze amended interest payment schedule.

Peko, J. 2 1-Aug-01 475 0.2 95.0 41 Conversations and e-mail with Orrick regarding terms and conditions of bonds.

Peko, J. 2 1-Aug-0 I 475 0.2 95.0 41 Discussion with Kathy Tappero regarding payment of principal on mortgage bonds.

Peko, J. 21-Aug-01 475 0.2 95.0 41 Call with L. Barnes regarding allocations.

Peko, J. 22-Aug-01 475 2.8 1,330.0 41 Meeting to review amended disclosure statement and follow-up comments with B. Lange.

22-Aug-01 475 1.2 570.0 41 Claims allocation analysis with Q. Carlson.

Peko, J.

Peko, J. 22-Aug-01 475 0.8 380.0 41 Meeting with L. Barnes regarding creditor treatment.

22-Aug-01 475 0.4 190.0 41 Meeting with K. Tappero to discuss default interest rates.

Peko, J.

22-Aug-01 475 0.4 190.0 41 Review cash distribution and allocation model.

Peko, J.

22-Aug-01 475 0.3 142.5 41 Discussions with M. Nachimson related to PORl Peko, J.

Peko, J. 22-Aug-01 475 0.2 95.0 41 Discussion with Q. Carlson regarding capital structure.

22-Aug-01 475 0.2 95.0 41 Discussions with Anderson regarding debt allocation.

Peko, J.

Peko, J. 23-Aug-01 475 0.8 380.0 41 Discussions with Orrick, Lehman WGM regarding new opco structure.

Peko, J. 24-Aug-01 475 1.2 570.0 41 Discussions with Q. Carlson regarding pre/post petition interest.

Peko, J. 24-Aug-01 475 0.7 332.5 41 Analyze mortgage prepayments and minimum interest rate requirements.

24-Aug-01 475 0.6 285.0 41 Discussions with K. Tappero regarding call premiums, interest rates and avg cost of debt under Peko, J.

new debt structure.

475 0.4 190.0 41 Model call premium liabilities.

Peko, J. 24-Aug-01 24-Aug-01 475 0.3 142.5 41 Review interest calculations on FRN and bank revolver.

Peko, J.

24-Aug-01 475 0.3 142.5 41 Discussion with K. Tappero on restructuring model.

Peko, J.

24-Aug-01 475 0.2 95.0 41 Discussion with K. Lee regarding CP maturities and rates.

Peko, J.

24-Aug-01 475 0.2 95.0 41 Analyze mortgage premium treatment under Code prepared by WGM.

Peko, J.

24-Aug-01 475 0.1 47.5 41 Review Fed Judg rates.

Peko, J.

24-Aug-01 475 0.1 47.5 41 Conversation with K. Lee regarding FRN interest.

Peko, J.

26-Aug-01 475 1.0 475.0 41 Post and pre-petition interest treatment modeling.

Peko, J.

27-Aug-01 475 0.5 237.5 41 Review interest rate calculations pre/post.

Peko, J.

27-Aug-01 475 0.5 237.5 41 Interest rate discussion with Rothschild.

Peko, J.

27-Aug-01 475 0.4 190.0 41 Discussions with K. Tappero regarding weighted cost of debt for newcos, Peko, J.

27-Aug-01 475 0.3 142.5 41 Analyze interest rate calculation methodology.

Peko, J.

28-Aug-01 475 3.1 1,472.5 41 Analyze amended disclosure statement.

Peko, J.

28-Aug-01 475 0.6 285.0 41 Analyze cost of debt for each newco.

Peko, J.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C I I I I PCD L

I

-~I Comments I

1 Fees Code Professional Date Rate L Hours I 285.0 41 Meeting with L. Barnes regarding critical open items and go forward strategy.

Peko, J. 28-Aug-01 475 0.6 Peko, J. 28-Aug-01 475 0.5 237.5 41 Discussions with Orrick related to debt allocations.

Peko, J. 28-Aug-01 475 0.1 47.5 41 Discussion with K. Tappero regarding newco interest rates.

Peko, J. 28-Aug-01 475 0.1 47.5 41 Discussion with Orrick regarding disclosure statement.

Peko, J. 29-Aug-01 475 0.7 332.5 41 Creditor consideration meeting.

Peko, J. 29-Aug-01 475 0.3 142.5 41 Discussion with K. Tappero/K. Lee regarding pre-petition payments to CP holders.

Peko, J. 29-Aug-01 475 0.1 47.5 41 Call with G. Benz regarding tax issues.

Peko, J. 29-Aug-01 475 0.1 47.5 41 Call with L. Barnes regarding tax issues.

Peko, J. 30-Aug-01 475 1.9 902.5 41 Discussion of open items for POR with M. Donnelly.

Peko, J. 30-Aug-01 475 1.0 475.0 41 Adjust PC savings model.

Peko, J. 30-Aug-01 475 0.5 237.5 41 Discussion with Orrick and Lehman regarding POR matters.

Peko, J. 30-Aug-01 475 0.3 142.5 41 Update M. Donnelly on POR matters.

Peko, J. 30-Aug-01 475 0.3 142.5 41 Compare post petition interest calculations with Rothschild.

Peko, J. 30-Aug-01 475 0.2 95.0 41 Post petition interest with calculation with B. Shaw.

Peko, J. 30-Aug-01 475 0.2 95.0 41 Discussion with Rothschild re: interest rates.

Peko, J. 31-Aug-01 475 1.0 475.0 41 Cover open items and potential amendment to creditor treatment.

Peko, J. 31-Aug-01 475 0.8 380.0 41 Conf. Call with Rothschild and finance team related to creditor allocations, maturities and interest payment treatment.

Peko, J. 31-Aug-01 475 0.4 190.0 41 Discussions with Rothschild related to creditor treatment.

Peko, J. 4-Sep-01 475 2.1 997.5 41 All hands meeting to discuss claims treatment in preparation for ratings meeting.

Peko, J. 4-Sep-01 475 1.9 902.5 41 Review amended disclosure statement.

Peko, J. 4-Sep-01 475 0.4 190.0 41 Meeting with M. Donnelly to discuss POR comments and allocation methodology for claims.

Peko, J. 4-Sep-01 475 0.3 142.5 41 Review amended allocation model.

Peko, J. 4-Sep-01 475 0.1 47.5 41 Call with Lehman re: terms and conditions of bonds.

Peko, J. 5-Sep-01 475 4.0 1,900.0 41 Meeting to review DS Peko, J. 5-Sep-01 475 1.0 475.0 41 Analyze assignment agreement.

Peko, J. 5-Sep-01 475 0.5 237.5 41 Discuss DS issue with M. Nachimson.

Peko, J. 5-Sep-01 475 0.5 237.5 41 Preparation for DS meeting.

Peko, J. 5-Sep-01 475 0.3 142.5 41 Analyze DS issues with Q. Carlson Peko, J. 5-Sep-01 475 0.3 142.5 41 Research officer certificate stipulation.

Peko, J. 5-Sep-01 475 0.3 142.5 41 Meeting with K. Lee to discuss interest calculations.

Peko, J. 5-Sep-01 475 0.3 142.5 41 Review application of judgment rates.

Peko, J. 5-Sep-01 475 0.2 95.0 41 Review of QF status report.

Peko, J. 5-Sep-01 475 0.1 47.5 41 Discuss LC treatment with Nachimson.

Peko, J. 6-Sep-01 475 0.7 332.5 41 Conference call with Lehman and Rothschild to review claim amounts and treatment.

Peko, J. 6-Sep-01 475 0,5 237.5 41 Meeting with Lehman to review amended terms and conditions of bonds.

Peko, J. 6-Sep-01 475 0.5 237.5 41 Review amended terms and conditions of bonds.

Peko, J. 6-Sep-01 475 0.5 237.5 41 Review/research stipulation points 13, 14 and signoff for B. Molloy.

Peko. J. 6-Sep-01 475 0.4 190.0 41 Analyze debt capacity with Q. Carlson.

Peko, J. 6-Sep-01 475 0.3 142.5 41 Review treatment of PC with K. Tappero.

Peko, . 6-Sep-01 475 0.2 95.0 41 Analyze PC LC bank group and commitments.

Peko, J. 6-Sep-01 475 0.2 95.0 41 Discuss monthly officers certificate sign off for stipulation with Nachimson.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July I st, 2001 through March 31st, 2002 Exhibit C PCD IProfesslonal Peko, J.

I Date f 6-Sep-01 I Rate 475 Hours 0.2 Fees 95.0 95.0 PCD Code IComments 41 Discuss PC LC treatment with K. Tappero.

41 Discuss terms and conditions of debt with Orrick.

I 6-Sep-01 475 0.2 Peko, J.

7-Sep-01 475 3.1 1,472.5 41 Conference Call - WGM PGE re: claim allocations and PC treatment.

Peko, J.

7-Sep-01 475 0.3 142.5 41 Prepare and send comments on sub debt to Orrick.

Peko, J.

7-Sep-01 475 0.3 142.5 41 Discuss claims amounts for DS with K. Tappero.

Peko, J.

7-Sep-01 475 0.3 142.5 41 Discussion with Q. Carlson re: pre-petition claims.

Peko, J.

7-Sep-01 475 0.2 95.0 41 Discussion of assignment with Q. Carlson.

Peko, J.

7-Sep-01 475 0.2 95.0 41 Send claim amounts to J. Tabor.

Peko, J.

475 1.0 475.0 41 Review fee application.

Peko, J. 10-Sep-01 10-Sep-01 475 0.7 332.5 41 Meeting to analyze creditor treatment and PC bond allocations.

Peko, J.

1O-S ep-01 475 0.4 190.0 41 Analyze amended debt allocations and PC bond treatment.

Peko, J.

10-Sep-01 475 0.3 142.5 41 Review and respond to e-mail related to creditor treatment in POR Peko, J.

10-Sep-01 475 0.2 95.0 41 Discuss PC bond treatment with M. Nachimson.

Peko, J.

10-Sep-01 475 0.2 95.0 41 Discuss MBIA treatment with K. Tappero.

Peko, J.

10-Sep-01 475 0.1 47.5 41 Discuss bond terms with Orrick.

Peko, J.

10-Sep-01 475 0.1 47.5 41 Call with WGM regarding mortgage bonds in treasury.

Peko, J.

475 1.9 902.5 41 Review DS and POR Peko, J. 11-Sep-01 11 -Sep-01 475 0.2 95.0 41 Analyze pre-petition interest claims.

Peko, J.

475 3.6 1,710.0 41 Meeting to analyze review amended DS.

Peko, J. 12-Sep-01 12-Sep-01 475 0.9 427.5 41 All hands PC bond treatment meeting.

Peko, J.

12-Sep-01 475 0.5 237.5 41 Prepare for DS review meeting.

Peko, J.

475 0.6 285.0 41 Fee app preparation.

Peko, J. 13-Sep-01 13-Sep-01 475 0.5 237.5 41 Discussion with M. Nachimson and M. Donnelly re: PC treatment.

Peko, J.

13-Sep-01 475 0.4 190.0 41 Meeting with Rothschild re: pre-petition interest.

Peko, J.

13-Sep-01 475 0.2 95.0 41 Discussion with K. Tappero re: assumed liabilities.

Peko, J. 41 Discussion with M. Nachimson regarding PC bond treatment.

13-Sep-01 475 0.2 95.0 Peko, J. 41 Meeting to review DS.

14-Sep-01 475 4.5 2,137.5 Peko, J.

14-Sep-01 475 2.0 950.0 41 Meeting with M. Donnelly re: psot petition interest and negotiating strategy for PC LC bonds.

Peko, J.

14-Sep-01 475 0.9 427.5 41 Analyze amended disclosure statement, Peko, J.

14-Sep-01 475 0.5 237.5 41 Review and provide comments on assumptions to financials for DS.

Peko, J.

14-Sep-01 475 0.2 95.0 41 Discussion with Orrick re: formation and capitalization of company.

Peko, J. 41 Review amended Disclosure Statement 17-Sep-01 475 2.2 1,045.0 Peko, J. 570.0 41 Analyze and adjust claims and allocations based on revised numbers.

17-Sep-01 475 1.2 Peko, J.

17-Sep-01 475 0.5 237.5 41 Discussions with M. Donnelly re: interest rates and PC bond treatment.

Peko, J.

17-Sep-01 475 0.4 190.0 41 Analyze Rothschild pre/post petition interest rate calculations.

Peko, J.

17-Sep-01 475 0.3 142.5 41 Discussions with K. Tappero / Q. Carlson re: preferred stock treatment.

Peko, J. 95.0 41 Discussion with M. Nachimson re: PC bond treatment.

17-Sep-01 475 0.2 Peko, J.

17-Sep-01 475 0.2 95.0 41 Discussions with M. Donnelly re: PC contingent claims.

Peko, J.

18-Sep-01 475 1.2 570.0 41 Analyze and respond to Rothschild questions re; debt allocations.

Peko, J.

18-Sep-01 475 1.1 522.5 37 Discussions with B. Shaw and Q. Carlson regarding several issues such as post-petition interest Peko, J. calculations, financing transaction fees and wtd cost of debt 332.5 41 Analyze allocations and debt distributions.

Peko, J. 18-Sep-01 475 0.7 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C I I I

I I

I Fees PCD Code Comments Professional I Date Rate I Hours Peko, J. 18-Sep-01 475 0.6 285.0 41 Analyze amended terms and conditions for debt instruments.

Peko, J. 18-Sep-01 475 0.4 190.0 41 Conference call with Rothschild re: debt allocations and interest calculations.

Peko, J. 18-Sep-01 475 0.2 95.0 41 Conference call with Orrick to determine what bond terms to include in POR.

Peko, J. 18-Sep-01 475 0.2 95.0 41 Analyze debt trading language.

Peko, J. 18-Sep-01 475 0.2 95.0 41 Discussions with Orrick re: debt terms and conditions.

Peko, J. 18-Sep-01 475 0.2 95.0 41 Provide comments on debt terms and conditions to Orrick via e-mail.

Peko, J. 18-Sep-01 475 0.2 95.0 41 Call with Offick and M. Donnelly re: zero coupon option on sub debt.

Peko, J. 18-Sep-01 475 0.2 95.0 41 Call with M. Donnelly re: terms of bonds.

Peko, J. 18-Sep-01 475 0.1 47.5 41 Call with M. Donnelly re: negative lien language.

Peko, J. 18-Sep-01 475 0.1 47.5 41 Call with Orrick re: negative lien language.

Peko, J. 19-Sep-01 475 2.9 1,377.5 41 Review/analyze amended Disclosure Statement Peko, J. 19-Sep-01 475 0.5 237.5 41 Call with PG&E re: interim interest on LC backed PC bonds.

Peko, J. 19-Sep-01 475 0.4 190.0 41 Call with Orrick to provide comments on amended Dis Statement Peko, J. 19-Sep-01 475 0.3 142.5 41 Call with Orrick and WGM re: prior bonds.

Peko, J. 19-Sep-01 475 0.2 95.0 41 Call with Orrick re: maturity distributions.

Peko, J. 19-Sep-01 475 0.2 95.0 41 Call with M. Donnelly re: maturity allocations.

Peko, J. 19-Sep-01 475 0.2 95.0 41 Discussion with J. Thomas re: convenience class claims.

Peko, J. 19-Sep-01 475 0.2 95.0 41 Call with M. Donnelly re: convenience claims / quids impact.

Peko, J. 19-Sep-01 475 0.2 95.0 41 Call with WGM to discuss treatment of prior bonds.

Peko, J. 19-Sep-01 475 0.1 47.5 41 Call with M. Donnelly re: convenience class breakdown.

Pcko, J. 19-Sep-01 475 0.1 47.5 41 Call with WGM/PGE re: quids/convenience class.

20-Sep-01 475 1.2 570.0 41 Conference call re: POR Peko, J.

Peko, J. 20-Sep-01 475 0.1 47.5 41 Analyze bank LC and breakeven rates.

Peko, J. 26-Sep-01 475 0.2 95.0 41 Call with K. Lee regarding interest rate assumptions.

Peko, J. 28-Sep-01 475 0.6 285.0 41 Conference call with M. Donnelly to review issues from analysts, creditors, etc.

Peko, J. 28-Sep-01 475 0.3 142.5 41 Review debt allocation Peko, J. 28-Sep-01 475 0.3 142.5 41 Review July billing detail, Peko, J. 28-Sep-01 475 0.3 142.5 41 Discussion with Q. Carlson re: 100% cash for interest and corresponding debt issues.

Peko, . 28-Sep-01 475 0.2 95.0 41 Call with B. Shaw re: issues related to POR 28-Sep-01 475 0.2 95.0 41 Analyze interest rates for senior notes.

Peko, J.

Peko, J. 12-Oct-01 475 0.3 142.5 41 Call with Mike Donnelly to discuss POR summary Peko, J. 12-Oct-01 475 0.2 95.0 41 Conference call with Mike Donnelly Peko, J. 12-Oct-01 475 0.1 47.5 41 Teleconference with M. Nachimson re workplan 15-Oct-01 475 0.3 142.5 41 Call with M. Donnelly re: project management Peko, J.

15-Oct-01 475 0.3 142.5 41 Review POR work plan and goals for finance team Peko, J.

Peko, J. 15-Oct-01 475 0.3 142.5 41 Call with M. Donnelly re: financing team meeting Peko, J. 15-Oct-01 475 0.2 95.0 41 Prepare for finance team meeting Peko, J. 16-Oct-0 1 475 3.2 1,520.0 41 Financing meeting to clarify schedule and key issues Peko, J. 16-Oct-01 475 0.2 95.0 41 Discussion with M. Donnelly related to key issues for financing team meeting 16-Oct-01 475 0.2 95.0 41 10/9 signoff on monthly officers certificate Peko, J.

18-Oct-01 475 0.8 380.0 41 Prepare time and responsibility schedule Peko, J.

18-Oct-01 475 0.2 95.0 41 Call with Orrick re: open issues Peko, J.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C Professional Date Rate I ours Fees Code Comments on outstanding issues 19-Oct-01 475 1.1 522.5 41 Review draft & incorporate changes from WGM, HR and Lehman Peko, J.

19-Oct-01 475 0.1 47.5 41 Call with M. Donnelly re: issues Peko, J.

19-Oct-01 475 0.1 47.5 41 Call with Howard Rice re: issues Peko, J.

19-Oct-01 475 0.1 47.5 41 Call to WGM re: issues Peko, J.

19-Oct-01 475 0.1 47.5 41 Call from Lehman re: issues Peko, J.

20-Oct-01 475 2.2 1,045.0 41 Prepare and review issues Peko, J.

21-Oct-01 475 0.3 142.5 41 Finalize issue and responsibility timetable Peko, J. creditors 22-Oct-01 475 0.2 95.0 41 Call with M. Donnelly to discuss outstanding issues on POR and Peko, J. re: PC LC funding levels 23-Oct-01 475 0.2 95.0 41 Call with R. Morrison Peko, J.

25-Oct-01 475 0.8 380.0 41 Conference call with Barnes and Donnelly re: time and responsibilities Peko, J. bonds 25-Oct-01 475 0.2 95.0 41 RE: resolution of PC bank negotiation and impact of paying mortgage Peko, J. re: negotiation 475 0.2 95.0 41 Call with M. Donnelly Peko, J. 25-Oct-01 25-Oct-01 475 0.1 47.5 41 Review e-mail re: PC bonds from B. Britton Peko, J.

27-Oct-01 475 0.3 142.5 41 Draft time and responsibility for open issues Peko, J.

27-Oct-01 475 0.2 95.0 41 Call with M. Donnelly re: POR Peko, J.

28-Oct-01 475 1.4 665.0 41 Draft time and responsibility by task and phase Peko, J.

29-Oct-01 475 1.7 807.5 41 Conference Call re: PC bond treatment Peko, J.

29-Oct-01 475 0.3 142.5 41 Discussions with M. Nachimson with regard to POR work plan Peko, J.

29-Oct-01 475 0.1 47.5 41 Call with M. Donnelly re: PC bond meeting/responsibilites Peko, J.

30-Oct-01 475 1.5 712.5 41 Amend review time and responsibility schedule Peko, J.

30-Oct-01 475 0.2 95.0 41 Call with Orrick re: indentures Peko, J.

30-Oct-01 475 0.2 95.0 41 Call with M. Donnelly re: task list Peko; J. organization 31-Oct-01 475 0.6 285.0 41 Call with M. Donnelly and preparation for conference call re:

Peko, J. call with Messrs. Harvey, Barnes and Donnelly re: organization 3 1-Oct-01 475 0.5 237.5 41 Conference Peko, J. POE re: cromium claims/PC bonds 1-Nov-01 475 2.4 1,140.0 41 Preparation for and actual conference call with Orrick and Peko, J.

41 Call with M. Donnelly re: indenture 2-Nov-01 475 0.2 95.0 Peko, J. 0.8 380.0 41 Review financial disclosure in 204 filing 6-Nov-01 475 Peko, J. 475 0.3 142.5 41 Call with M. Donnelly re: financing issue related to 204 7-Nov-01 Peko, J. 475 0.5 237.5 41 Conference call re; financial sections of regulatory 8-Nov-01 Peko, J. 0.2 95.0 41 Call with M. Donnelly re: 204 filing 9-Nov-01 475 Peko, J.

475 0.3 142.5 41 Discussion with M. Donnelly re: regulatory filings 16-Nov-01 Peko, J. 475 0.4 190.0 41 Conference Call with Mike Donnelly re: creditor issues.

27-Nov-01 Peko, J. 2.8 1,330.0 41 Analyze draft Disclosure Statement 28-Nov-01 475 Peko, J.

475 1.2 570.0 41 Conference call - Mike Donnelly and J. York re: open POR issues 28-Nov-01 Peko, J. 475 1.0 475.0 41 Analyze terms and conditions for LC banks 29-Nov-01 41 Call with M. Donnelly re: POR Peko, J. 475 0.3 142.5 30-Nov-01 Peko, J. 475 5.6 2,660.0 41 Conference call with financial instrument team re: DS 3-Dec-01 41 Analyze POR Peko, J. 475 2.0 950.0 3-Dec-01 by WGM Peko, J. 475 1.5 712.5 41 Analyze Rothschild DS comments and follow-up items prepared 3-Dec-01 41 Prepare for DS all hands meeting Peko, J. 0.5 237.5 3-Dec-01 475 Peko, J. 0.2 95.0 41 Review of interim invoice 3-Dec-01 475 Peko, J.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by Professional, July 1st, 2001 through March 31st, 2002 Exhibit C PCD Date Hours Fees Code Comments Professional Rate 3-Dec-01 475 0.2 95.0 41 Analyze Sidley Austin memo re: Bank set-off rights Peko, J.

4-Dec-01 475 1.0 475.0 41 Financial instrument team conference call re: open issues DS Peko, J.

4-Dec-01 475 1.0 475.0 41 Call with M. Donnelly re: debt allocations Peko, J.

5-Dec-01 475 3.9 1,852.5 41 Conference Call financial instrument team Peko, J.

5-Dec-01 475 1.5 712.5 41 Adjust debt allocation model Peko, J.

5-Dec-01 475 0.7 332.5 41 Analyze term sheets and provide comments to Orrick Peko, J.

6-Dec-01 475 1.0 475.0 41 Calls with M. Donnelly re: debt allocations capacity and adjustment Peko, J.

6-Dec-01 475 0.6 285.0 41 Call with M. Donnelly re: debt allocations Peko, J.

6-Dec-01 475 0.5 237.5 41 Adjust debt allocation model Peko, J.

6-Dec-01 475 0.3 142.5 41 Analyze registrator of resales Peko, J.

7-Dec-01 475 2.0 950.0 41 Financial instrument team - DS review meeting Peko, J.

10-Dec-01 475 0.5 237.5 41 Analyze key step following financing completion Peko, J.

10-Dec-01 475 0.2 95.0 41 Discussion with M. Kassiesieh re: pre/post petition interest Peko, J.

10-Dec-01 475 0.2 95.0 41 Discussion with M. Donnelly re: debt allocations adjustment Peko, J.

11-Dec-01 475 0.5 237.5 41 Adjust debt allocation model Peko, J.

332.3 157,842.5 Peko, J. Total 920.0 411,394.0 Grand Total 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D Professional Date I Rate Hours Fees Comments PCD Code Description Nachimson, M. 5-Jul-01 650 0.3 195.0 Review vendor claims issues Claims Management Process Nachimson, M. 1-Jul-01 650 1.0 650.0 Review issues related to the claims resolution process Claims Management Process Nachinison, M. 2-Jul-01 650 0.5 325.0 Review claims issues Claims Management Process Nachimison, M. 7-Jul-01 650 0.2 130.0 Review claims issue ClaimsiManagement Process Nachimson, M. 9-Jul-01 650 0.5 325.0 Review claims issue Claims Management Process Claims Management Process "Thomas, J. 2-Jul-01 475 0.8 380.0 Analysis of creditors included on revised schedules of liabilities Thomas, J. 2-Jul-01 475 0.9 427.5 Meeting with Debtor personnel re: claims management process and reconciliation Claims Management Process Claims Management Process Thomas, J. 2-Jul-01 475 1.2 570.0 Meeting with debtor personnel re: communications issues surrounding claims management Claims Management Process Thomas, J. 2-Jul-01 475 0.4 190.0 Draft correspondence with Berger and Associates re: information requirements of debtor for claims management Thomas, J. 3-Jul-01 475 0.6 285.0 Draft correspondence to R. Berger re: amended schedules and information requirements for Claims Management Process analysis related to claims management Clainis Management Process "Thomas, J. 5-Jul-01 475 0.6 285.0 Analysis ofclaims stratifications based on amended schedules Thomas, J. 5-Jul-01 475 0.7 332.5 Analysis of claims included on revised schedules and categorization for claims management Claims Manageiient Process Process Thomas, J. 5-Jul-01 475 0.8 380.0 Discussions with Q. Carlson re: reports ofscheduled liabilities and related analyses Claims Managemient Process Thomas, J. 5-Jul-01 475 0.4 190.0 Discussion with B. Berger re: information requirements ofdebtor for claims management Claims Management Thomas, J. 5-Jul-01 475 0.4 190.0 Discussions with D. Frazier re: claims management process Claims Management Process Thomnias, J. 5-Jul-01 475 1.2 570.0 Analysis of procedures required to process and document claims resolutions post-receipt of Claims Managemnent Process proof of claims Thomas, J. 6-Jul-01 475 0.9 427.5 Discussions with D. Frazier regarding open claims projects and next steps Claims Management Process Thomas, J. 6-Jul-01 475 0.5 237.5 Analysis ofrecipients of POC forms not on the schedule ofliabilities Claims Management Process Thomas, J. 6-Jul-01 475 0.3 142.5 Review draft report ofall claims by reconciliation category Claims Management Process Thomas, J. 6-Jul-01 475 0.3 142.5 Discussion with J. Vanderhooven (Berger) re: POC mailing issues and schedules Claims Management Process Thomas, J. 6-Jul-01 475 0.4 190.0 Draft communication re: issues to be resolved through claims agent Claims Management Process Thomas, J, 9-Jul-01 475 0.5 237.5 Discussion with D. Frazier re: resolution team lead training materials Claims Management Process Thomas, J. 9-Jul-01 475 2.3 1,092.5 Analysis of all parties receiving proofofelaim forms and development of reports for team Claims Management Process leads Thomas, J. 9-Jul-01 475 0.3 142.5 Discussions with D. Frazier re: unscheduled claims categories Claims Management Process 190.0 Discussion with K. Dowd re: claims classifications and resolution teams Thomas, J. 9-Jul-01 475 0.4 Claims Management Process 1.3 617.5 Analysis of amended schedules and claim categories Thomas, J. 9-Jul-01 475 Claims Management Process 1.9 902.5 Preparation for meeting re: schedules and claims Thomas, J. 10-Jul-01 475 Claims Management Process 0.8 380.0 Discussion with D. Frazier re: POC summary schedules Thomas, J. 10-Jul-01 475 Claims Management Process 0.8 Preparation for claims resolution team lead meeting.

Thomas, J. 10-Jul-01 475 380.0 Claims Management Process 475 2.2 1,045.0 Analysis of'reports ofall scheduled claims by claim category to be distributed to team leads Thomas, J. 10-Jul-01 Claimis Management Process 475 0.4 190.0 Preparation for meeting with debtor personnel re: bankruptcy compliance isssues.

Thomas, J. 11-Jul-01 Claims Management Process 2.1 997.5 Preparation ofreports to be distributed at resolution team lead meeting Thomas, J. I I-Jul-01 475 Claims Management Process 0.2 95.0 Discussion with K. Dowd re: claims resolution team lead meeting Thomas, J. I 11-Jul-01 475 Claims Management Process 0.6 285.0 Meeting with debtor personnel re: bankruptcy compliance issues.

Thomas, J. 11-Jul-01 475 ClaimimsManagement Process 475 0.6 285.0 Discussion with Q. Carlson and D. Frazier re: status of claims management process Thomas, J. 114-Jul-01 Claims Management Process 1.7 807.5 Meeting with debtor personnel re: claims resolution team lead instructions.

Thomas, J. 11-Jul-01 475 Claims Management Process 0.4 190.0 Discussion withM. Snyder re: claims listing reports and classification ofelaims Thomas, J. 12-Jul-01 475 Claims Manmagement Process 2.6 1,235.0 Analysis ofclaims classifications for purposes of facilitating the reconciliation process Thomas, J. 12-Jul-01 475 Claims Management Process 0.3 142.5 Discussion with K. Dowd re: FYCA near term involvement in claims management process Thomas, J. 17-Jul-01 475 Claims Management Process 2.8 770.0 Drafting claim category report Carlson, Q. 3-Jul-01 275 Claims Management Process 4.0 1,100.0 Preparation of reports summarizing claims statistics using claims database Carlson, Q. 3-Jul-01 275 Claimis Management Process 275 0.8 220.0 Discussions with J. Thomas re: reports of scheduled liabilities and related analyses Carlson, Q. 5-Jul-01 Claims Management Process 275 4.1 1,127.5 Finalizing claims report to be sent to the different team leads involved in the claims Carlson, Q. 6-Jul-01 Claims Management Process resolution process Carlson, Q. 6-Jul-01 275 1.2 330.0 Discussions with D. Frazier re claims process Claimis Management Process 0.3 82.5 Discussions with D. Frazier to discuss claims report Carlson, Q. 6-Jul-01 275 Claims Management Process 275 1.5 412.5 Applying the 'Zia map' to the uncategorized claims Carlson, Q. 9-Jul-01 Claims Management Process 3.1 852.5 Preparation ofreport showing the types ofelaims that were not classified by Berger & Assoc Carlson, Q. 9-Jul-01 275 Claims Management Process 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D PCD Code Description Claims Management Process Professional Carlson, Q.

E )ate 13 9-Jul-01 lC Rate 275 Hours 2.7 Fees 742.5 Comments _

Preparation ofteam lead reports re claims Carlson, Q. 0-Jul-01 275 0.9 247,5 Discussions with D. Frazier re: POC schedule analysis Claims Management Process 1(

Carlson, Q. 0-Jul-01 275 2.5 687.5 Preparing a report summarizing the types ofclaimus within each category Claims Management Process 1 Carlson, Q. 0-Jul-01 275 2.5 687.5 Reviewing the claim categories Claims Management Process 1 Carlson, Q. 0-Jul-01 275 3.7 1,017.5 Preparation ofreports to be distributed at claims meeting Claims Management Process I Carlson, Q. 0-Jul-01 275 0.5 137.5 Discussions with D. Frazier re claims resolution process Claims Management Process 1 Claims Management Process Carlson, Q. 1-Jul-01 275 2.5 687.5 Reviewing information related to schedules D, E and F within claims database 1 Preparation of reports to be distributed at team meeting re claims Claims Management Process Carlson, Q. 1-Jul-01 275 2.1 577.5 1 165.0 Discussions with J. Thomas and D. Frazier re claims management process Carlson, Q. 1-Jul-01 275 0.6 Claims Management Process I Carlson, Q. 2-Jul-01 275 3.1 852.5 Preparing a report summarizing the revisions applied to the claims database Claims Management Process 1 Carlson, Q. 2-Jul-01 275 2.1 577.5 Revising previously categorized tax claims into other categories Claims Management Process 1 Carlson, Q. 6-Jul.01 275 0.8 220.0 Discussion with D. Frazier to discuss status ofdetailed claim analysis Claitis Management Process Frazier, D. 2-Jul-01 340 1.5 510.0 Organize claims process tasks to do Claims Management Process Frazier, D. 2-Jul-01 340 2.4 816.0 Prepare misc. analayses for C. Taylor & T. Tullis Claitus Management Process Frazier, D. 2-Jul-01 340 2.8 952.0 Preparation of misc. materials for traige team meeting Claims Management Process Frazier, D. 3-Jul-01 340 0.8 272.0 Meeting w/ Kevin Dowd and Claims Resolution team Claims Management Process Frazier, D. 3-Jul-01 340 3.2 1,088.0 Analysis and continued preparation of claims dispute resolution materials Claims Management Process Frazier, D. 5-Jul-01 340 0.4 136.0 Discussions with J. Thomas re: claims management process Claims Management Process Frazier, D. 5-Jul-01 340 0.6 204.0 Update category analysis Claims Management Process Frazier, D. 5-Jul-01 340 1.0 340.0 Daily claims resolution team meeting with Kevin Dowd and Mike Schonlierr Claims Managenment Process Frazier, D. 5-Jul-01 340 3.4 1,156.0 Preparation ofmisc. materials for claims team meeting Claims Management Process Frazier, D. 5-Jul-01 340 0.4 136.0 E-mail several claims roles and responsibilities documents to Mike Schonherr for review Claims Managenment Process Frazier, D. 5-Jul-01 340 0.6 204.0 Meeting with Megan Ardell -- discuss next steps for roles and responsibilities Claims Management Process Frazier, D. 6-Jul-01 340 0.9 306.0 Discussions with Jason Thomas regarding open claims projects and next steps Claims Management Process Frazier, D. 6-Jul-01 340 0.6 204.0 Discussions with Megan Ardell to discuss claims process Claims Management Process Frazier, D. 6-Jul-01 340 1.2 408.0 Discussions with Q. Carlson re: claims resolution process Claims Management Process Frazier, D. 6-Jul-01 340 1.9 646.0 Create list of Berger open items and distribute to claims team for comments Clainm Management Process Frazier, D. 6-Jul-01 340 1.5 510.0 Review claims report analysis and forward to Mike Schonherr and Megan Ardell for Claims Management Process comments Frazier, D. 6-Jul-01 340 0.3 102.0 Discussions with Quinn Carlson to discuss claims report Claims Managemneit Process Frazier, D. 9-Jul-01 340 0.4 136.0 Discussions with M. Schonherr re: unscheduled claim category analysis Claims Management Process Frazier, D. 9-jul-01 340 0.3 102.0 Communcations with Jason Thomas re: unscheduled claims categories Claims Management Process Frazier, D. 9-Jul-01 340 0.5 170.0 Discussion with J. Thomas re: resolution team lead training materials Claims Management Process Frazier, D. 9-Jul-01 340 2.6 884.0 Allocate unscheduled claims categories into "buckets" and distribute to M. Schonhen" for Claims Management Process comments Frazier, D. 9-Jul-01 340 0.8 272.0 Discussions with Megan Ardell re detailed claims lists and required assistance for team lead Claims Management Process trmg Frazier, D. 10-Jul-01 340 0.8 272.0 Discussions with Jason Thomas re: POC summary schedules Claims Management Process 0.6 204.0 Discussions with Mike Schonherr Frazier, D. 10-Jul-01 340 Claims Management Process 0.5 170.0 Discussions with Q. Carlson re: claims resolution process Frazier, D. 10-Jul-01 340 Claims Management Process 340 0.9 306.0 Discussions with Quinn Carlson re: POC schedule analysis Frazier, D. 10-Jul-01 Claims Managemnent Process 4.3 1,462.0 Summary analysis of POC recipients not on schedule Frazier, D. 10-Jul-01 340 Claims Management Process 340 3.7 1,258.0 Prepare materials for team lead meeting Frazier, D. 1 -Jul-01 Claims Management Process 340 0.4 136.0 Speak with Megan Ardell regarding next steps Frazier, D. 11-Jul-01 Claims Management Process 340 1.8 612.0 Dispute resolution team lead meeting Frazier, D. 11-Jul-01 Claims Management Process 0.6 204.0 Discussion with Q. Carlson and J. Thomas re: status of claims management process Frazier, D. 11-Jul-01 340 Claims Management Process 340 2.6 884.0 Write/ review/ distribute team lead e-mail providing lists ofclaims Frazier, D. 11-Jul-01 Claims Management Process 340 1.8 612.0 Legal meeting with Marn Snyder, Kevin Dowd, Mike Schonherr, Megan Ardell, et. Al.

Frazier, D. 16-Jul-01 Claims Management Process 340 0.8 272.0 Discussion with Quinn Carlson to discuss status of detailed claim analysis Frazier, D. 16-Jul-01 Claims Management Process 340 2.2 748.0 Create agenda for Megan Ardell for Berger database training for team leads and claims team Frazier, D. 17-Jul-01 Claims Management Process 340 0.5 170.0 Discussions with Megan Ardell Frazier, D. 17-Jul-01 Claims Management Process 123.7 44,139.0 Claims Management Process Total 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 1 IXli]iD I)

Date Rate flours Fees Comments PCD Code Description Professional Nachimison, M. 3-Jul-01 650 1.7 1,105.0 Review debt instruments in connection with POR including teleconference with Mike Participate in Negotiation and Formulation of Plan ofReorganization Donnelly and M. Kessler Nachimson, M. 5-Jul-01 650 2.5 1,625.0 Review debt instruments re POR Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 9-Jul-01 650 7.0 4,550.0 Preparation or POR issues including meeting with financial instruments team Participate in Negotiation and Formulation of Plan of Reorganization Nachimison, M. 10-Jul-01 650 2.0 1,300.0 Preparation for meeting re POR Participate in Negotiation and Formulation of Plan of Reorganization Nachiimson, M. I 1-Jul-01 650 1.2 780.0 Review mortgage and bonds re POR Participate in Negotiation and Fornulation of Plan of Reorganization Nachinison, M. 11-Jul-01 650 30 1,950.0 Preparation ofPOR - financial instruments meeting, review term sheet Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 12-Jul-01 650 1.0 650.0 Participation in debt holders teleconference Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 17-Jul-01 650 0.3 195.0 Review debt instrument issue re POR including teleconference with Mike Donnelly Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 17-Jul-01 650 0.7 455.0 Review committee POR issues including teleconference with C. Strand Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 18-Jul-01 650 4.0 2,600.0 Review disclosure statement Participate in Negotiation aid Formulation of Plan of Reorganization Nachinison, M. 23-Jul-01 650 2.2 1,430.0 Review POR debt issues Participate in Negotiation and Formulation ofPlan of Reorganization Nachimson, M. 24-Jul-01 650 2.0 1,300.0 Review POR & discuss statement issues including meeting of finance teamn Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 25-Jul-01 650 1.2 780.0 Discussion with I. Thomas re: negotiations with creditors committee over POR Participate in Negotiation and Forniulation ofPlan of Reorganization Nachimson, M. 25-Jul-01 650 3.8 2,470.0 Review debt instruments re POR and capital structure Participate in Negotiation and Formulation ofPlan of Reorganization Nachimson, M. 31 -Jul-01 650 3.0 1,950.0 Financial instruments review re POR Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 6-Aug-O1 650 3.2 2,080.0 Telephonic meeting of financial instruments teamn re POR Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M 8-Aug-01 650 1.5 975.0 Meeting with M. Donnelly and Rothehild re POR issues Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 8-Aug-01 650 2.1 1,365.0 Review POR issues including meeting with M. Kessler Participate in Negotiation and Formulation ofPlan of Reorganization Nachimson, M. 9-Aug-01 650 0.2 130.0 Discussion with J. Peko related to treatment ofPC bond holders.

Participate in Negotiation and Formulation ofPlan of Reorganization Nachimson, M. 14-Aug-01 650 7.2 4,680.0 Analysis ofdebt structure in connection with POR including meeting with financial Participate in Negotiation and Formulation of Plan of Reorganization instruments team Nachiiison, M. 15.Aug-01 650 4.2 2,730.0 Analysis of debt structure in connection with POR with K. Harvey and L. Barnes Participate in Negotiation and Formulation ofPlan of Reorganization Nachimsnon, M. 16-Aug-01 650 5.9 3,835.0 Review debt instruments in connection with POR including meeting of financial instrument Participate in Negotiation and Formulation ofPlan of Reorganization team Nachimson, M. 20-Aug-01 650 3.0 1,950.0 Preparation of POR and D/S Participate in Negotiation aid Formulation ofPlan of Reorganization Nachimson, M. 21-Aug-01 650 3.0 1,950.0 Review POR & D/S Participate in Negotiation and Foriulation of Plan of Reorganization Nachimson, M 22-Aug-01 650 4.0 2,600.0 Review POR and D/S including meeting with financial instruments team Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 22-Aug-01 650 0.8 520.0 Meet with L. Barnes re POR issue Participate in Negotiation and Formulation ofPlan of Reorganization Nachimson, M. 22-Aug-01 650 0.2 130.0 Review plan alternatives with S. Shelan Participate in Negotiation aid Formulation of Plan of Reorganization Nachimson, M. 22-Aug-01 650 0.3 195.0 Discussionsn with J. Peko related to POR.

Participate in Negotiation and Formulation of Plan ofReorganization Nachimson, M. 23-Aug-01 650 0.5 325.0 Review mortgage bond issue with regard to POR Participate in Negotiation and Formulation ofPlan of Reorganization 3,055.0 Review debt issues in connection with POR Nachimson, M. 24-Aug-01 650 4.7 Participate in Negotiatiom and Formulation of Plan ofReorganization 2.0 1,300.0 Review draft disclosure statement Nachimson, M. 4-Sep-01 650 Participate in Negotiation and Formulation of Plan of Reorganization 650 0.1 65.0 Discuss LC treatment with J. Peko Nachimson, M. 5-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 5-Sep-01 650 1.6 1,040.0 Review issues related to the LC backed Pollution Control Bonds Participate in Negotiation and Formulation ofPlan of Reorganization 650 0.5 325.0 Discuss DS issue with J. Peko Nachimison, M. 5-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 130.0 Discuss monthly officers certificate sign off for stipulation with J. Peko Nachimison, M. 6-Sep-01 650 0.2 Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 6-Sep-01 650 2.0 1,300.0 Re POR - pollution control bond issues including teleconference with C. Strand and M.

Participate in Negotiation and Formulation of Plan of Reorganization Donnelly Nachimson, M. 7-Sep-01 650 0.2 130.0 Review financial instruments in preparation for financial instruments teani meeting Participate in Negotiation and Formulation ofPlan of Reorganization Nachimson, M 10-Sep-01 650 2.0 1,300.0 Review draft plan of reorganization and disclosure statement Participate in Negotiation aid Formulation of Plan of Reorganization Nachimson, M. 10-Sep-01 650 0.2 130.0 Discuss PC bond treatment with J. Peko Participate in Negotiation and Formulation ofPlan of Reorganization Nachimson, M. 11 -Sep-01 650 1.1 715.0 Review plan of reorganization and disclosure statement Participate in Negotiation amidFormulation of Plan ofReorgamization Nachimson, M 11-Sep-01 650 1.4 910.0 Re POR - review pollution control bond issue including teleconference with debtor and Participate in Negotiation and Formulation of Ptar of Reorganization counsel Nachimson, M. 13-Sep-01 650 4.2 2,730.0 Re POR - review treatment ofpollution control bonds including teleconference with debtor Participate in Negotiation and Formulation of Plan of Reorganization and committee Nachimson, M. 13-Sep-01 650 0.5 325.0 Discussion with J. Peko and M. Donnelly re: PC treatment.

Participate in Negotiation and Formulation of Plan of Reorganization 130.0 Discussion with J. Peko regarding PC bond treatment.

Nachimson, M. 13-Sep-01 650 0.2 Participate in Negotiation mad Formulation ofPlan of Reorganization Nachimson, M 13-Sep-01 650 1.4 910.0 Discussion with creditors re POR issue Participate in Negotiation aid Formulation of Plan of Reorganization 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D Date Rate Hours Fees Conmnents I IPCD Code Description Professional Naciimson, M. 14-Sep-01 650 1.8 1,170.0 Re POR - treatment of PCB's including teleconference with C. Strand, J Schaffer, L. Bames Participate inNegotiation and Formulation ofPlan of Reorganization & M. Donnelly Nachimson, M. 17-Sep-01 650 3.5 2,275.0 Review POR issues re PCB including teleconference with M. Donnelly, L. Barnes and C.

Participate in Negotiation and Formulation of Plan of Reorganization Strand Nachimson, M. 17-Sep-01 650 0.2 130.0 Discussion with J. Peko re: PC bond treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 17-Sep-01 650 2.5 1,625.0 Review POR and disclosure statement Participate in Negotiation and Formulation of Plan of Reorganization Nacliimson, M. 20-Sep-01 650 1.8 1,170.0 Investor teleconference re POR, including preparation Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 20-Sep-01 650 2.3 1,495.0 Review POR issues ahead of conference call Participate in Negotiation and Formulation ofPlan of Reorganization Nachinison, M. 21-Sep-01 650 1.1 715.0 Review POR issue including teleconference with C. Strand Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 24-Sep-01 650 1.0 650.0 Review POR in preparation for teleconference call with C. Strand Participate in Negotiation and Formulation of Plan of Reorganization 325.0 Review POR status with Mike Donnelly Nachimson, M. 28-Sep-01 650 0.5 Participate in Negotiation and Formulation ofPlan of Reorganization Nachimson, M. 1-Oct-01 650 0.2 130.0 Review POR issue with Mike Donnelly Participate in Negotiation and Formulation ofPlan of Reorganization 325.0 Review EIX deal Nachimson, M. 4-Oct-01 650 0.5 Participate in Negotiation and Formulation of Plan of Reorganization 130.0 Status review re POR with Mike Donnelly Nachimson, M. 4-Oct-01 650 0.2 Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 5-Oct-01 650 0.2 130.0 Review POR issue re creditor with Mike Donnelly Participate in Negotiation and Formulation of Plan of Reorganization 65.0 Review creditor issues re POR Nachimson, M. 5-Oct-01 650 0. I Participate in Negotiation and Formulation ofPlan of Reorganization Nachimson, M. 8-Oct-01 650 0.2 130.0 Status update with Mike Donnelly Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 11-Oct-01 650 0.5 325.0 Review POR creditor issues including teleconference with Clara Strand Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 12-Oct-01 650 0.1 65.0 Teleconference with Jim Peko re workplan Participate in Negotiation and Formulation ofPlan of Reorganization 195.0 POR status review with Mike Donnelly Nacbimson, M. 12-Oct-01 650 0.3 Participate in Negotiation and Formulation ofPlan of Reorganization 0.3 195.0 Review disclosure statement plan Nachinison, M. 12-Oct-01 650 Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 16-Oct-01 650 0.2 130.0 Review latest disclosure statement draft with Mike Donnelly Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 16-Oct-01 650 0.9 585.0 Re POR - discussions with counsel for commercial paper holders and with debtor Participate in Negotiation and Formulation of Plan of Reorganization concerning POR issues Nachimson, M. 22-Oct-01 650 0.1 65.0 Discussion with Mike Donnelly re POR issues - pollution control board letters of credit Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 26-Oct-01 650 0.2 130.0 Review other POR work plan issues Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 26-Oct-01 650 0.2 130.0 Pollution control board - POR issues - discussions with Mike Donnelly Participate in Negotiation and Formulation of Plan of Reorganization Nachimson, M. 29-Oct-01 650 0.3 195.0 Discussions with Jim Peko with regard to POR work plan Participate in Negotiation and Formulation of Plan of Reorganization Thomas, J. 12-Jul-01 475 2.1 997.5 Research re: bond holder abilities/rights for voting on POR Participate in Negotiation and Formulation ofPlan of Reorganization Thomas, J. 12-Jul-01 475 0.7 332.5 Draft correspondence to H Rice re: procedures for voting on plan of reorganization Participate in Negotiation and Formulation of Plan of Reorganization 0.9 427.5 Research re: current bondholders by issuance.

Thomas, J. 12-Jul-01 475 Participate in Negotiation and Formulation of Plan of Reorganization 190.0 Research re: ability of and procedures for various parties to vote on POR Thomas, J. 13-Jul-01 475 0.4 Participate in Negotiation and Formulation of Plan of Reorganization 807.5 Research re: current holders of various issues of bonds.

Thomas, J. 13-Jul-01 475 1.7 Participate in Negotiation and Formulation of Plan of Reorganization Thomas, J. 13-Jul-01 475 0.6 285.0 Discussion with D. Frazier and Q. Carlson re: procedures for determining large holders of Participate in Negotiation aid Formulation of Plan of Reorganization POE debt Thomas, J. 16-Jul-01 475 1.6 760.0 Research re: procedures required to obtain complete lists of current debt holders Participate in Negotiation and Formulation of Plan of Reorganization Thomas, J. 16-Jul-01 475 0.6 285.0 Discussion with debtor personnel re: current bondholders and issues related to voting on Participate in Negotiation and Formulation of Plan of Reorganization POR Thomas, J. 17-Jul-01 475 0.4 190.0 Discussion with debtor personnel re: procedures and rights of creditors to vote on POR Participate in Negotiation and Formulation ofPlan of Reorganization Thomas, J. 17-Jul-01 475 0.6 285.0 Research re: procedures and rights of various parties with respect to voting on the POR Participate in Negotiation and Formulation of Plan of Reorganization 237.5 Research re: current holders of various debt issuances of POE Thomas, J. 17-Jul-01 475 0.5 Participate in Negotiation and Formulation of Plan of Reorganization Thomas, J. 19-Jul-01 475 0.8 380.0 Preparation for meeting re: POR issues and long-term financial planning Participate in Negotiation and Formulation ofPlan of Reorganization Thomas, J. 19-Jul-01 475 0.4 190.0 Meeting with M. Nachimson re: POR issues and creditor committee meeting.

Participate in Negotiation and Formulation of Plan of Reorganization 427.5 Meeting with Q. Carlson and J. Peko re: POR and refinancing issues.

Thomas, J. 19-Jul-01 475 0.9 Participate in Negotiation and Formulation of Plan of Reorganization 380.0 Discussion with Q. Carlson and J. Peko re: debt restructuring plan Thomas, J. 19-Jul-01 475 0.8 Participate in Negotiation and Formulation ofPlan of Reorganization 4.7 2,232.5 Meeting with debtor personnel re: POR issues and long-term financial planning Thomas, J. 20-Jul-01 475 Participate in Negotiation and Formulation of Plan of Reorganization 475 1.2 570.0 Discussion with M. Nachimson re: negotiations with creditors committee over POR Thomas, J. 25-Jul-01 Participate in Negotiation and Formulation of Plan of Reorganization 380.0 Discussion with Q. Carlson and J. Peko re: debt restructuring plan Thomas, J. 25-Jul-01 475 0.8 Participate in Negotiation and Formulation of Plan of Reorganization Participate in Negotiation and Formulation ofPlan of Reorganization "Thomas, J. 26-Jul-01 475 1.1 522.5 Analysis of debt claims to be incorporated into the FOR.

Thomas, J. 27-Jul-01 475 1.3 617.5 Read draft POR Participate in Negotiation and Formulation ofPlan of Reorganization 1.3 617.5 Preparation for meeting re: presentation to creditors committee re: proposed debt structure Thomas, J. I-Aug-01 475 Participate in Negotiation aid Formulation ofPlan of Reorganization in POR 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D Professional Date Rate tlours Fees jComents PCD Code Description 665.0 Analysis of current bondholders Thomas, J. 1-Aug-01 475 1.4 Participate in Negotiation and Formulation of Plan of Reorganization Discussion with J. Peko re: convenience class claims.

Thomas, J. 19-Sep-01 475 0.2 95.0 Participate in Negotiation and Formulation of Plan of Reorganization 2.1 577.5 POR issues Carlson, Q 9-Jul-01 275 Participate in Negotiation and Formulation ofPlan of Reorganization Carlson, Q. 13-Jul-01 275 0.6 165.0 Discussion with D. Frazier and J. Thomas re: procedures for determining large holders of Participate in Negotiation and Formulation of Plan of Reorganization POE debt Carlson, Q. 16-Jul-01 275 3.1 852.5 Research of owners of bondholders (Pollution control)

Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q 19-Jul-01 275 0. 220.0 Discussion with J. Peko and J. Thomna re: debt restructuring plan Participate in Negotiation and Formulation of Plai of Reorganization Carlson, Q. 19-Jul-01 275 0.9 247.5 Meeting with J. Thomas and J. Peko re: POR and refinancing issues.

Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q 24-Jul-01 275 0.4 110.0 Discussion with J. Peko re: maturities of restructured and new debt Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 24-Jul-01 275 0.5 137.5 Analysis re: maturities ofrestructured and new debt Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 24-Jul-01 275 1.5 412.5 Analysis draft report to M. Kassissich re maturities of restructured debt.

Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 25-Jul-01 275 0.8 220.0 Discussion with J. Thomas and J. Peko re: debt restructuring plan Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 25-Jul-01 275 3.0 825.0 Develop new maturity profile for new and restructured debt. Discussed with M. Donnelly Participate in Negotiation and Formulation of Plan of Reorganization and J. Peko.

Carlson, Q. 27-Jul-01 275 2.1 577.5 Discussions with J. Peko re: restructuring model and developing consistent allocations of Participate in Negotiation and Formulation ofPlan of Reorganization restructured securities under POR Carlson, Q. 27-Jul-01 275 1.0 275.0 Discussion with Maher 1(assisieh re: restructuring model Participate in Negotiation and Formulation of Plan of Reorganization 2.3 632.5 Review and make revisions to the latest debt restructuring model Carlson, Q. 27-Jul-01 275 Participate in Negotiation and Formulation of Plan ofReorganization 1,072.5 Revised restructuring model to reflect the latest thinking on how much cash is projected to Carlson, Q. 30-Jul-01 275 3.9 Participate in Negotiation and Formulation ofPlan of Reorganization be distributed to each class ofcreditor Carlson, Q. 3 1-Jul-01 275 2.9 797.5 Analysis ofthe maturities of restructured debt under the latest restructuring model Participate in Negotiation and Fornmulation of Plan of Reorganization Carlson, Q. 31-Jul-01 275 1.0 275.0 Discussion with J. Peko re restructuring plan Participate in Negotiation and Formulation ofPlan of Reorganization Carlson, Q. 3 1-Jul-01 275 3.2 880.0 Layering in the maturities of debt under the newco's into the restructuring model Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. l-Aug-01 275 1.4 385.0 Research identifying current mortgage bondholders Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. I-Aug-01 275 2.5 687.5 Preparation for meeting re: presentation to creditors committee re: proposed debt strncture Participate in Negotiation and Formulation of Plan of Reorganization in POR Carlson, Q. 7-Aug-01 275 3.5 962.5 Prepare summary ofdiscussion points on 8-6 conference call with M. Donnelly and other Participate in Negotiation and Formulation of Plan of Reorganization professionals Carlson, Q. 8-Aug-01 275 3.1 852.5 Revising financial restructuring model Participate in Negotiation and Formulation of Plan of Reorganization 3.2 880.0 Determining cash distribution to mtg bondholders with a fractional share issue pursuant to Carlson, Q. 8-Aug-01 275 Participate in Negotiation and Formulation ofPlat of Reorganization the latest restructuring plan Carlson, Q 9-Aug-01 275 1.0 275.0 Mtg w/M. Donnelly disc 3 scenarios re restructuring (I-refi mtg bonds, 2-4 B of new money Participate in Negotiation and Formulation of Plan of Reorganization & 3-10 B ofnew money)

Carlson, Q. 9-Aug-01 275 1.8 495.0 Review amend creditor treatment model and discuss with J. Peko.

Participate in Negotiation and Formulation ofPlan of Reorganization Carlson, Q 9-Aug-01 275 0.6 165.0 Meeting with J. Peko regarding amended allocation ofcash and notes.

Participate in Negotiation and Formulation ofPlan of Reorganization Carlson, Q. 275 2.3 632.5 Preparation of analysis to be provided to Debtor re: 3 restructuring scenarios.

9-Aug-01 Participate in Negotiation and Formulation of Plan of Reorganization 275 3.7 1,017.5 Research treasury yields on various maturities Carlson, Q. 13-Aug-01 Participate iii Negotiation mid Formulation of Plan of Reorganization Carlson, Q. 13-Aug-01 275 0.6 165.0 Discuss MTN interest rate model with J. Peko.

Participate in Negotiation and Fornmulation of Plan of Reorganization Carlson, Q. 13-Aug-01 275 2.7 742.5 Prepare model for delivery to M. Donnelly showing the latest allocations to the newly Participate in Negotiation and Formulation of Plan of Reorganization formed entities Carlson, Q. 13-Aug-01 275 1.3 357.5 Incorporating the latest changes to the maturity profile of debt instruments per J. Peko and Participate in Negotiation and Formulation of Plan of Reorganization M Donnelly discussion Carlson, Q. 14-Aug-01 275 2.4 660.0 Review debt reorganization section of the disclosure statement Participate in Negotiation and Formulation of Plan of Reorganization 275 3.5 962.5 Working on debt restructuring model to create various scenarios that optimize the excess Carlson, Q. 14-Aug-01 Participate in Negotiation and Formulation of Plan of Reorganization loss account Carlson, Q 15-Aug-01 275 2.3 632.5 Drafting memo outlining the three showstopper risks -funding gap, capital market execution Participate in Negotiation and Formulation of Plan of Reorganization and the allocation to creditor risks Carlson, Q. 15-Aug-01 275 0.4 110.0 Discuss structure of financial model for debt optimization strategy with J. Peko.

Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 15-Aug-01 275 2.8 770.0 Creating mortgage collateral coverage analysis reflecting latest version of the restructuring Participate in Negotiation and Formulation of Plan of Reorganization plan Carlson, Q 16-Aug-01 275 2.4 660.0 Finalizing document re: risks associated with plan for M. Donnelly Participate in Negotiation and Formulation ofPlan of Reorganization Carlson, Q. 17-Aug-01 275 0.3 82.5 Call with J. Peko regarding ELA scenarios and risk issues.

Participate in Negotiation and Formulation of Plan of Reorganization 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July Ist, 2001 through March 31st, 2002 Exhibit D Proressional Date Rate Hours Fees Comments PCD Code Description Participate in Negotiation and Formulation ofPlan of Reorganization Carlson, Q 20-Aug-01 275 6.5 1,787.5 Preparation for the meeting with L. Barnes discussing the matrix of PX / ISO and Mortgage Cash % plan Participate in Negotiation arid Formulation of Plan of Reorganization Carlson, Q. 22-Aug-01 275 0.2 55.0 Discussion with J Peko regarding capital structure.

Carlson, Q 22-Aug-01 275 1.2 330.0 Claims allocation analysis with J, Peko Participate in Negotiation and Formulation ofPlan ofReorganization Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 22-Aug-01 275 2.1 577.5 Preparation and analysis of debt instrument meeting - sunmmaries of creditor recoveries assuming $7 billion of new money Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 23-Aug-01 275 2.2 605.0 Check calculation of post-petition interest Participate in Negotiation arid Formulation of Plan of Reorganization Carlson, Q. 24-Aug-01 275 1.2 330.0 Discussions with J. Peko regarding pre/post petition interest.

Participate in Negotiation and Formulation ofPlan ofReorganization Carlson, Q. 28-Aug-01 275 1.0 275.0 Reading disclosure statement Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q 28-Aug-01 275 25 687.5 Updating restructuring tmodel to reflect latest disclosure statement and creditor treatment Formulation of Plan of Reorganization Carlson, Q. 4-Sep-01 275 2.1 577.5 Meetings with M. Donnelly and K. Lee discussing claim amounts in latest disclosure Participate in Negotiatini and statement Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 4-Sep-01 275 05 137.5 Meeting with S. Ledoux, J. Peko, M. Donnelly, J. Maguire, J. Savage discussing POR and Formulation of Plan of Reorganization Carlson, Q. 5-Sep-01 275 0.3 82.5 Analyze DS issues with J. Peko Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 6-Sep-01 275 0.4 110.0 Aiialyze debt capacity with J. Peko Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 7-Sep-01 275 0.2 55.0 Discussion ofassignment with J. Peko Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q 7-Sep-01 275 0.3 82.5 Discussion with 3. Peko re: pre-petition claims.

Participate in Negotiation of Plan of Reorganization Carlson, Q. 7-Sep-01 275 3.5 962.5 Participate in meeting with R. Morrison, K. Tappero, L. Barnes, J. Peko and M. Donnelly re Participate in Negotiation and Formulation pollution control bonds Participate in Negotiation arid Formulation of Plan of Reorganization Carlson, Q 7-Sep-01 275 1.5 412.5 Adjusting debt allocation model to reflect the latest thinking resulting from meeting re pollution control bonds Carlson, Q. I 0-Sep-01 275 2.2 605.0 Researching prior bankruptcies re the application of the federal judgment rate Participate in Negotiation arid Formulation of Plan of Reorganization Participate in Negotiation arid Formulation of Plan of Reorganization Carlson, Q. 13-Sep-01 275 0.5 137.5 Providing a response to J. Tabor regarding the claim amounts applicable to each creditor class in POR Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 13-Sep-01 275 0.2 55.0 Discussions with M. Donnelly re post-petition interest calculation Carlson, Q. 13-Sep-01 275 2.4 660.0 Revising debt restructuring model to incorporate latest thinking on the POR and disclosure Participate in Negotiation aid Formulation of Plan of Reorganization statement ofPlan of Reorganization Carlson, Q. 14-Sep-01 275 2.5 687.5 Making adjustments to debt restructuring model Participate in Negotiation and Formulation in Negotiation and Fornmulation of Plan of Reorganization Carlson, Q. 17-Sep-01 275 1.2 330.0 Meeting with M. Donnelly re total new debt projections at each entity Participate Carlson, Q 17-Sep-01 275 2.7 742.5 Revising debt allocation model Participate in Negotiation arid Formulation of Plan of Reorganization of Plan of Reorganization Carlson, Q, 17-Sep-01 275 0.3 82.5 Discussions with K. Tappero / 3. Peko re: preferred stock treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 17-Sep-01 275 1.9 522.5 Refining pre and post-petition interest calculation on the PC MBIA and PC LC debt Participate in Negotiation and Fornmulation of Plan of Reorganization Carlson, Q. 18-Sep-01 275 2.5 687.5 Preparation for meeting with W. Campbell, M. Donnelly and M. Bogyo including revising Participate in Negotiation and Formulation debt restrueturing model Participate in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 18-Sep-01 275 0.5 137.5 Meeting with W. Campbell, M. Donnelly and M. Bogyo reviewing the disclosure statement Carlson, Q. 18-Sep-01 275 2.5 687.5 Revising debt restructuring model incorporating the latest projections and debt coverage Participate in Negotiation and Formulation of Plan of Reorganization information Carlson, Q. 18-Sep-01 275 1.5 412.5 Meetings with M. Donnelly regarding the appropriate numbers to be referenced in the Participate in Negotiation and Formulation of Plan of Reorganization disclosure statement drafts Carlson, Q. 28-Sep-01 275 0.3 82.5 Discussion with J. Peko re: 100% cash for interest and corresponding debt issues.

Participite in Negotiation and Formulation of Plan of Reorganization Carlson, Q. 6-Nov-01 275 2.3 632.5 Updated financial restructuring model according to latest estimate of cash balance at Participate in Negotiation and Formulation of Plan of Reorganization confirmation of Plan of Reorganization Carlson, Q 6-Nov-01 275 2.6 715.0 Maintaining integrated financial model to reflect open issues re: POR Participate in Negotiation and Formulation ofPlan of Reorganization Carlson, Q. 30-Nov-01 275 3.4 935.0 Prepared summaries ofnew operating companies' debt structure aid maturity profile Participate in Negotiation and Formulation Carlson, Q. 10-Dec-01 275 2.7 74215 Updating / maintaining financial model to reflect potential amendments to the POR Participate in Negotiation and Formulation ofPlan of Reorganization of Plan ofReorganization Carlson, Q. 10-Dec-01 275 2.9 797.5 Reviewing case status and analyze open issues (cash generation, allocation of debt to post Participate in Negotiation and Formulation bankruptcy entities)

Frazier, D. 13-Jul-01 340 0.6 204.0 Discussion with J. Thomas and Q. Carlson re: procedures for determining large holders of Participate in Negotiation and Formulation of Plan of Reorganization POE debt Peko, J. 25-Jun-01 475 4.5 2,137.5 Conference Call - Financial Instrument Teamn Participate in Negotiation and Fornmlation of Plan of Reorganization Peko, J. 28-Jun-01 475 2.6 1,235.0 Conference Call - Financial instrument team.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 29-Jun-01 475 0.6 285.0 Model input for mortgage bonds.

Participate in Negotiation aid Formulation of Plan of Reorganization 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D PCD Code Description Participate in Negotiationi mid Formulation of Plan of Reorganization Professional Peko, J.

XEDate 29-Jun-01 Rate Ilours 475 0.4 Fees Comnent.

190.0 Phone call with John Plaster (Lehunan) and completed spreadsheet for Mortgage bond.

Participate in Negotiation and Formulation of Plan ofReorganization Peko, J. 2-Jul-01 475 1.4 665.0 Call with Mike Donnelly regarding Mortgage bond pricing and qualifying long term exchange issues.

Participate in Negotiation aid Formulation of Plan of Reorganization Peko, J. 2-Jul-01 475 0.5 237.5 Review WGM draft term sheets 6/29 for new debt and restructuring old debt.

Participate in Negotiation and Formulation of Plan ofReorganization Peko, J. 2-Jul-01 475 0.5 237.5 Call with Lee Jay related to tax issues & reinstatement of Mortgage bonds and the ability to treat tranches discretely.

Participate in Negotiation aid Formulation of Plan of Reorganization Peko, J. 3-Jul-01 475 0.2 95.0 Discussed mortgage bond calls with Jay Tabor.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 3-Jul-01 475 0.4 190.0 Discussed & analyzed reorg impact on mortgage bond holders with Mike Kessler minimize tax and interest cost.

Participate in Negotiation and Formulation of Plan of Reorganization Pcko, J. 5-Jul-01 475 0.3 142.5 Analyze Mike Donnelly's spreadsheet related to tax basis and allocation ofdebt.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Jul-01 475 0.2 95.0 Call w/ J. Tabor re call provisions/redemption provisions/ability to classify different series as separate classes on the mortgage debt Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Jul-01 475 0.6 285.0 Analyze memo prepared by Stuart Goldring related tax considerations discussed on June 29.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Jul-01 475 0.2 95.0 Call with Mike Donnelly to analyze & review findings of Jay Tabor related to flexibility to call & reinstate mortgage bonds.

Participate in Negotiation aid Formulation of Plan of Reorganization Peko, J. 6-Jul-01 475 0.5 237.5 Analyze current bank list and suggest new potential bank candidates Participate in Negotiation and Formulation of Plan of Reorgmiization Peko, J. 6-Jul-01 475 0.6 285.0 Analyze amended term sheet from WOM Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 6-Jul-01 475 1.8 855.0 Conference Call related to tax implications of finco structure Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 9-Jul-01 475 6.0 2,850.0 Analyze tax compliant semi-prorata Jigsaw (with the new residual Finco) debt allocation work sheet.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 9-Jul-01 475 1.5 712.5 Review term sheet with Mike Donnelly highlighting key areas of focus related to mortgage and p/c bonds.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 9-Jul-01 475 1.2 570.0 Review and analyze mortgage indenture for First and Refuding Mortgage bonds.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Jul-01 475 03 142.5 Discussion to clarify mortgage release impact on tax treatment of PC bonds.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Jul-01 475 1.4 665.0 Conference call with I/c counsel to creditors positions related providing credit enhancement for bond issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Jul-01 475 2.7 1,282.5 Develop debt allocation and maturity schedule for existing and new debt.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Jul-01 475 1.9 902.5 Conference Call related to mortgage and P/C bond structuring. Analyzing impairment, restatement and tax consequences.

Participate in Negotiation and Formulation of Plmi of Reorganization Peko, J. I 0-Jul-01 475 0.4 190.0 Review and analyze summary terms for restructured PC bonds.

Peko, J. 10-Jul-01 475 0.1 47.5 Clarification ofcollateral release on mortgage bond with Doreen Ludermann.

Participate in Negotiation mid Formulation ofPlan of Reorganization Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 11 -Jul-01 475 3.4 1,615.0 Mtg for Financial team to evaluate Finco structure, allocation of debt & review revised team sheets for pc bonds.

Participate in Negotiation mid Formulation of Plan of Reorganization Peko, J. 11 -Jul-01 475 0.6 285.0 Review PC bond term sheet.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 11-Jul-01 475 1.1 522.5 Analyze and quantiry potential savings on selectively reinstating mortgage bonds.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J 12-Jul-01 475 0.7 332.5 Meeting with Mike Donnelly to discuss PV savings of PC bonds vs. tax implications of excess tax basis if considered assumed debt.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 12-Jul-01 475 3.5 1,662.5 Finance team meeting to evaluate structure for Mortgage and mortgage backed PC bonds.

in Negotiation and Formulation ofPlmi of Reorganization Peko, J. 12-Jul-01 475 1.9 902.5 Build PC bond spreadsheet and analyze potential cost saving related reinstating pc bonds.

Participate Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 13-Jul-01 475 0.5 237.5 Meeting with M. Kassisieh to rework debt allocations among new operating cos.

mid Formulation of Plan of Reorganization Peko, I 13-Jul-01 475 3.0 1,425.0 Finance team meeting related to PC and Mortgage debt restructuring related to tax Participate in Negotiation implications and redrafling terms & conditions.

Peko, J. 13-Jul-01 475 0.9 427.5 Mtg with Mike Donnelly re creditors reaction to POR and began to lay out strategy on how Participate in Negotiation and Formulation of Plan of Reorganization to allocate restructured debt.

Peko, J. 16-Jul-01 475 0.5 237.5 Compare PC bond PV savings with Ken Lee and discuss analysis and methodology behind Participate in Negotiation and Formulation of Plan of Reorganization numbers.

Peko, J. 16-Jul-01 475 0.5 237.5 Call with Mike Donnelly and Mike Kessler related to interest rate costs - Federal rates vs.

Participate in Negotiation mid Formulation of Plan of Reorganization Contractual rates.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 16-Jul-01 475 0.2 95.0 Call with Doreen Ludemann to discuss disaggregation ofmortgage collateral.

in Negotiation and Formulation of Plan of Reorganization Peko, J. 16-Jul-01 475 0.2 95.0 Review and amend POR work plan.

Participate and Formulation of Plan of Reorganization Peko, J. 16-Jul-01 475 0.5 237.5 Analyze amended maturity profiles.

Participate in Negotiation Participate in Negotiation arid Formulation of Plan of Reorganization Peko, J. 16-Jul-01 475 0.6 285.0 Review amended term sheet drafts of PC, restructured and new debt offerings.

5/I 5/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D PCD Code Description Professional Date Rate IHours Fees {Comments 1 Participate inNegotiation and Formulation of Plan of Reorganization Peko, J. 17-Jul-01 475 2.4 1,140.0 Conference Call with Finance team to review term sheets for PC, restructured and new debt issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 17-Jul-01 475 1.0 475.0 Conference call with Mike Donnelly and Jeremy Mctuire related sizing, maturities, and liquidity ofnew debt offerings.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 17-Jul-01 475 2.0 950.0 Analyze first draft of disclosure statement.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 17-Jul-01 475 0.5 237.5 Review and analyze old and new mortgage comparison chart produced by D. Mao.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 17-Jul-01 475 0.7 332.5 Disc w/ L. Jay, B. Lange, T. Huntley and D. Ludemann related to release of assets under current mortgage indenture and value ofnewcos Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 18-Jul-01 475 1.0 475.0 Review and provide comments on lst draft ofdisclosure statement.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 18-Jul-01 475 0.2 95.0 Discussion with Mike Bogyo related to potential interest rates on Finco notes.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 18-Jul-01 475 5.3 2,517.5 Conference Call -review and amend first draft ofdisclosure statement.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 18-Jul-01 475 1.3 617.5 Adjust debt allocations and maturity profiles to reflect changes based on amended disclosure statement.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 19-Jul-01 475 0.2 95.0 Call with M. Kessler related to bankruptcy treatment of collateral release under mortgage bonds.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 19-Jul-01 475 0.4 190.0 Call Orrick related to collateral release provisions under mortgage indenture and possible tax implications.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 19-Jul-01 475 0.4 190.0 Call with Lehman to discuss market rates for neweos and potential terms for mortgage bonds.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 19-Jul-01 475 0.2 95.0 Amended mortgage debt financial model.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 19-Jul-01 475 0.6 285.0 Review and analyze spreadsheets from D. Ludemann related to unreimbursed capex calculations.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 19-Jul-01 475 0.5 237.5 Call with Orrick related to asset releases to the Newcos under the mortgage indenture.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 19-Jul-01 475 0.2 95.0 Review creditor class breakdown for disclosure statement provided by Orrick.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 19-Jul-01 475 0.9 427.5 Meeting with Q. Carlson and J. Thomas re: POR and refinancing issues Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 19-Jul-01 475 0.8 380.0 Discussion with Q. Carlson and J. Thomas re: debt restructuring plan Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 19-Jul-01 475 0.3 142.5 Brief Mike Donnelly on attorney findings related to unimpaired mortgage strategy.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 19-Jul-01 475 1.7 807.5 Mtg w/ Orrick, WOM and D. Ludemann re collateral release under mortgage and impact on disaggregation & non-impairment strategy.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 20-Jul-01 475 0.3 142.5 Prepare updated spreads by newco for Mike Bogyo.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 23-Jul-01 475 0.3 142.5 Review updated summary terms and conditions for restructured debt.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 23-Jul-01 475 0.2 95.0 Review industry and spread commentary from BofA.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 23-Jul-01 475 0.4 190.0 Review updated debt allocation and recommend new debt maturity profiles.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 23-Jul-01 475 2.7 1,282.5 Non-Working Travel time Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 23-Jul-01 475 1.7 807.5 Review and amend presentation on Finco structure by Lehman.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 23-Jul-01 475 0.1 47.5 Call with B. Lange regarding debt convenants coordination with Lehman, Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 23-Jul-01 475 1.2 570.0 Review and comment on updated disclosure statement.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 24-Jul-01 475 0.2 95.0 Call with John Paster discussing secondary spreads.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 24-Jul-01 475 0.5 237.5 Update M. Donnelly on required covenants and potent ial call provisions for mortgage debt.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Jul-01 475 1.5 712.5 Discuss with Q. Carlson re maturities ofrestructured debt.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Jul-01 475 0.1 47.5 Review spreads with M. Bogyo.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Jul-01 475 0.5 237.5 Review disclosure statement.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Jul-01 475 0.2 95.0 Amend maturity profile and class breakdown.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 24-Jul-01 475 3.0 1,425.0 Finance team call to consolidate comments and amend draft disclosure statement.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Jul-01 475 0.7 332.5 Call with Lehman/Orrick related debt covenant packages for mortgage, unsecured and sub debt.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Jul-01 475 1.1 522.5 Call with credit committee professionals to explain Finco structure.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 25-Jul-01 475 3.0 1,425.0 Develop new maturity profile for new and restructured debt. Discussed with M. Donnelly and Q. Carlson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 25-Jul-01 475 08 380.0 Discussion with J. Thomas and Q. Carlson re: debt restructuring plan Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 25-Jul-01 475 0.4 190.0 Review draft POR.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 25-Jul-01 475 1.5 712.5 Review draft POR.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D

. I [

Professional Date Rate Hours Fees Comments PCD Code Description Peko, J. 26-Jul-01 475 1.0 475.0 Conference Call with WOM Donnelly, Benz related to tax basis issues on spin.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 26-Jul-01 475 0.2 95.0 Discussion with B. Lange related to bond covenants.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 26-3ul-01 475 0.2 95.0 Call with Mike Donnelly regarding no cash mortgage option and impact on collateral.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 26-Jul-01 475 0.3 142.5 Analyze no cash to mortgage holders option and impact on collateral coverage.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 26-Jul-01 475 0.4 190.0 Review amended maturity schedule with M. Donnelly.

Participate in Negotiation and Formulation of Plan of Reorganization 285.0 Analyze tax implication of spin with WOM and G. Benz.

Peko, J. 76-Jul-01 475 0.6 Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 26-Jul-01 475 0.2 95.0 Review market spread and weekly update from BofA See.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 26-Jul-01 475 0.2 95.0 Debriefon meeting with Rothschild and discuss cram up strategy.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 26-Jul-01 475 0.3 142.5 Analyze collateral coverage post spin.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 27-Jul-01 475 2.1 997.5 Discussions with Q. Carlson re: debt restructuring model and developing ofconsistent Participate in Negotiation and Formulation of Plan of Reorganization allocations ofrestructured securities under POR Peko, J. 27-Jul-01 475 1.0 475.0 Review amended covenant packages for debt securities.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 27-Jul-01 475 0.3 142.5 Call with Mike Donnelly to discuss zero cash mortgage option.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 27-Jul-01 475 0.3 142.5 Call with B. Lange regarding debt covenants.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 27-Jul-01 475 0.2 95.0 Review amended maturity schedules for restructured debt.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 31-Jul-01 475 0.5 237.5 Research credit ratings history on El Paso and Public Service New Hampshire.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 31-Jul-01 475 0.4 190.0 Research disclosure does for El Paso and Public Service New Hampshire.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 31-Jul-01 475 1.0 475.0 Review and provide comments on debt term and conditions and follow-up call with B.

Participate in Negotiation and Formulation of Plan of Reorganization Lange.

Peko, J. 31-Jul-01 475 0.5 237.5 Analyze post petition interest memo provided byWOM.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 31-Jul-01 475 1.0 475.0 Discussions with Q. Carlson re: restructuring plan Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 3 1-Jul-01 475 0.1 47.5 Call with B. Lange regarding bond covenants.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 31-Jul-01 475 2.0 950.0 Meeting with Rothschild related to debt structure.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 31-Jul-01 475 0.3 142.5 Review Cajun Electric disclosure documents section related ot treatment of mortgage bond Participate in Negotiation and Formulation of Plan of Reorganization holders.

Peko, J. 31-Jul-01 475 0.1 47.5 Discussion with WOM regarding El Paso and Public Ser NH Participate in Negotiation and Formulation of Plan of Reorganization 475 0.2 95.0 Call with B. Lange to discuss treatment of fractional bondholders.

Peko, J. 1-Aug-01 Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 1-Aug-01 475 0.4 190.0 Analyze amended restructured debt schedules after adjustments to ISO and Generator Participate in Negotiation and Fornmulation of Plan of Reorganization Claims.

Peko, J. 1-Aug-01 475 0.4 190.0 Analyze amended restructured debt schedules after adjustments to ISO and Generator Participate in Negotiation and Formulation of Plan of Reorganization Claims.

Peko, J. I-Aug-01 475 0.3 142.5 Discussion with B. Lange related to debt covenant package.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 1-Aug-01 475 2.0 950.0 Review disclosure statements and treatment of mortgage holders for El Paso and PS New Participate in Negotiation and Formulation of Plan of Reorganization Hampshire.

Peko, J. 1-Aug-01 475 2.5 1,187.5 Meeting with M. Donnelly, Rothschild, Lehman to discuss treatment ofcreditors.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J, 1-Aug-01 475 0.3 142.5 Discussion with B. Lange related to debt covenant package.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 1-Aug-01 475 2.0 950.0 Review disclosure statements and treatment of mortgage holders for El Paso and PS New Participate in Negotiation and Formulation of Plan of Reorganization Hampshire.

Peko, J. 1-Aug-01 475 1.1 522.5 Meeting to discuss breakdown and treatment of classes for POR.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J, 1-Aug-01 475 0.6 285.0 Meeting with L. Bames, K. Harvey etal regarding Finco structure.

Participate in Negotiation and Formulation of Plan of Reorganization 285.0 Meeting with L. Bames, K. Harvey etal regarding Finco structure.

Peko, J. 1-Aug-01 475 0.6 Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 1-Aug-01 475 2.5 1,187.5 Meeting with M. Donnelly, Rothschild, Lehman to discuss treatment ofcreditors.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 1-Aug-01 475 1.1 522.5 Meeting to discuss breakdown and treatment of classes for POR.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 1-Aug-01 475 0.2 95.0 Call with B. Lange to discuss treatment of fractional bondholders.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 2-Aug-01 475 0.3 142.5 Discussion with M. Donnelly regarding default interest rates on outstanding debt.

Participate in Negotiation and Formulation of Plan of Reorganization 522.5 Meeting with Kassiesieh to discuss initial treatment ofcreditors.

Peko, 3, 2-Aug-01 475 1.1 Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 1.5 712.5 Discussion with M. Donnelly and WOM regarding oreditor claim classes and review of Participate in Negotiation and Formulation of Plan of Reorganization creditor committee position on current POR.

Peko, J. 2-Aug-01 475 0.2 95.0 B. Lange discuss bond issues with non-default interest.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 1.0 475.0 Analyze amended debt covenant package from Orrick.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 0.2 95.0 B. Lange discuss bond issues with non-default interest.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 2-Aug-01 475 0.5 237.5 Review document outlining default interest rates prepared by E&Y.

Participate in Negotiation and Formulation of Plan of Reorganization 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D Professional Date Rate Haurs Fees COIivlnents PCD Cede Description Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 0.6 285.0 Review El Paso disclosure document.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 1.5 712.5 Discussion with M. Donnelly and Rothschild related to creditor class allocation.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 1.5 712.5 Discussion with M. Donnelly and Rothschild related to creditor class allocation.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 2-Aug-01 475 0.7 332.5 Prepare and review agenda and strategy for creditor classification meeting.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 1.5 712.5 Discussion with M. Donnelly and WGM regarding creditor claim classes and review of creditor committee position on current POR.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 0.5 237.5 Review document outlining default interest rates prepared by E&Y.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 0.7 332.5 Prepare and review agenda and strategy for creditor classification meeting.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 1.0 475.0 Analyze amended debt covenant package from Orrick.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 2-Aug-01 475 0.6 285.0 Review El Paso disclosure document.

Participate in Negotiation and Formulation of Plani of Reorganization Peko, J. 2-Aug-01 475 1.1 522.5 Meeting with Kassissieh to discuss initial treatment of creditors.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 2-Aug-01 475 0.3 142.5 Discussion with M. Donnelly regarding default interest rates on outstanding debt.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 3-Aug-01 475 0.4 190.0 Analyze amended debt restructuring allocations and profile.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 3-Aug-01 475 0.4 190.0 Analyze amended debt restructuring allocations and profile.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 3-Aug-01 475 1.5 712.5 Research post petition interest treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 3-Aug-01 475 1.5 712.5 Research post petition interest treatment, Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 6-Aug-01 475 3.3 1,567.5 Prep and conference call with POE, WGM and Rothschild re: creditor classes and post petition interest issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 7-Aug-01 475 0.2 95.0 Analyze collateral coverage on mortgage bonds with Orrick.

Participate in Negotiationi and Formulation of Plan of Reorganization Peko, J. 7-Aug-01 475 2.0 950.0 Research post petition interest issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 7-Aug-01 475 0.5 237.5 Discussion with Rothschild regarding creditor classes.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 7-Aug-01 475 0.4 190.0 Analyze current true mortgage coverage if no spin were executed and release or new issuance were executed.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 7-Aug-01 475 0.5 237.5 Discuss research and collateral coverage issues with M. Donielly.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 7-Aug-01 475 0.2 95.0 Discuss analysis ofcollateral coverage on mort bonds with M. Kassisieh.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 7-Aug-01 475 0.5 237.5 Review fractional share - cash requirements.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J, 7-Aug-01 475 0.3 142.5 Analyze amended financial model prepared by M. Kassisieh.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, 3. 7-Aug-01 475 0.4 190.0 Review secured shareholder list.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 8-Aug-01 475 0.2 95.0 Analyze POR financing issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 8-Aug-01 475 3.0 1,425.0 Meeting with Rothschild and M. Donnelly regarding creditor treatment and creditor recovery analysis.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3 8-Aug-01 475 0.5 237.5 Review to do list with M. Donnelly resulting from conference call Mon. 8/6/01.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, 3. 8-Aug-01 475 0.2 95.0 Analyze cash requirements for fractional amounts under the mortgage bond.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 8-Aug-01 475 1.5 712.5 Discussions with Orrick, WOM and M. Donnelly regarding all cash strategy for creditors.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 8-Aug-01 475 0.8 380.0 Update PC model and analyze PV savings vs. taxable new issue.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 8-Aug-01 475 0.2 95.0 Discussion with Orriek regarding changes to creditor treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 8-Aug-01 475 0.5 237.5 Meeting with M. Donnelly - discuss research issues and cash requirements for fractional shares.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 8-Aug-01 475 0.2 95.0 Analyze creditor recovery analysis prepared by Rothschild.

Participate intNcgotiation and Formulation of Plan of Reorganization Peko, J. 8-Aug-01 475 0.5 237.5 Discuss ELAs and constraints on new money relative to cash distributions to creditors.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 9-Aug-01 475 1.1 522.5 Review financial model related to creditor treatment and presentation prepared by Q.

Carlson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 9-Aug.01 475 1.8 855.0 Review anmend creditor treatment model and discuss with Q. Carlson.

Participate in Negotiation aid Formulation of Plan of Reorganization Peko, J. 9-Aug-01 475 0.3 142.5 Analyze POR financing issues.

Participate in Negotiation and Formulation of Plani of Reorganization Peko, J. 9-Aug-01 475 0.6 285.0 Meeting with M. Donnelly related to creditor class allocations.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 9-Aug-01 475 0.6 285.0 Meeting with Q Carlson regarding amended allocation ofeash and notes.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 9-Aug-01 475 0.2 95.0 Discussion with M. Nachimson related to treatment of PC bond holders.

Participate in Negotiation aid Formulation of Plan of Reorganization Peko, J. 10-Aug-01 475 0.3 142.5 Review debt allocation financial model.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 13-Aug-01 475 0.9 427.5 Meeting with M. Donnelly related to treatment ofISO PX, NOP resolution and debt strategy.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 13-Aug-01 475 0.3 142.5 Discussions with Mike Donnelly regarding PC stipulation and debt strategy.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 13-Aug-01 475 0.6 285.0 Discuss MTN interest rate model with Q. Carlson.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D PCD Code Description Professional Date Rate Hours Fees Commentsa Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 13-Aug-01 475 0.6 285.0 Analyze financial model quantifying PC bond savings prepared by Ken Lee.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 13-Aug-01 475 0.4 190.0 Analyze Finova deal with M. Donnelly.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 14-Aug-01 475 0.2 95.0 Discussion with M. Donnelly regarding valuations.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 14-Aug-0 I 475 0.2 95.0 Analyze allocation model amendment prepared by Carlson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 14-Aug-0C 475 1.0 475.0 Analyze interest rate coverage and model prepared by Carlson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 14-Aug.01 475 0.8 380.0 Meeting M. Donnelly and Rothschild related to creditor allocations.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 14-Aug-Ol 475 0.9 427.5 Research Finova creditor treatment - following confirmation.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 14-Aug-01 475 2.0 950.0 Creditor classification meeting.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, . 15-Aug-01 475 0.5 237.5 Draft initial risk issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 15-Aug-0C 475 0.4 190.0 Discuss structure of financial model for debt optimization strategy with Q Carlson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 15-Aug-01 475 0.8 380.0 Meeting with M. Donnelly regarding potential POR risk matters.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 15-Aug-0C 475 1.0 475.0 Meeting with M. Donnelly regarding allocation models.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 15-Aug-01 475 2.5 1,187.5 Meeting with M. Donnelly regarding risk issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 15-Aug-0C 475 0.3 142.5 Analyze PC bond stipulation.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 15-Aug-01 475 0.4 190.0 Analyze optimal debt structure.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 15-Aug-0C 475 1.0 475.0 Build and test PC collateral financial model.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 16-Aug-0C 475 1.2 570.0 Meeting with M. Donnelly regarding collateralizing PC LC bonds and confirmation of claim balances.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 16-Aug-0C 475 0.2 95.0 Call with R. Morrison related to PC bond collateral.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 16-Aug-0 I 475 0.3 142.5 Analyze financial models, Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 16-Aug-0C 475 0.5 237.5 Prepare and review showstoppers memo.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 16-Aug-01 475 2.4 1,140.0 POR drafting meeting.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 17-Aug-01 475 0.3 142.5 Analyze adjusted claims allocations.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 17-Aug-01 475 0.3 142.5 Analyze credit capacity from Margaret Wetter.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 17-Aug-01 475 0.3 142.5 Call with Q. Carlson regarding ELA scenarios and risk issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 17-Aug-0C 475 0.2 95.0 Call with M. Donnelly related to ELA scenarios.

Participate in Negotiation and Formulation of Plan ofReorganization Peko, J. 17-Aug-01 475 0.2 95.0 Conference call with B. Lange to J. Plaster.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 17-Aug-01 475 1.5 712.5 Analyze risk issues related to plan.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 18-Aug-0C 475 1.4 665.0 Prepare and review secondary risk issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 18-Aug-0C 475 0.3 142.5 Call with M. Donnelly regarding claims' allocations and post petition interest.

Participafe in Negotiation and Formulation of Plan of Reorganization Peko, J. 18-Aug-0l 475 0.2 95.0 Review rates in NEG credit agreement, cash note combos in e-mail from M. Donnelly.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 19-Aug-01 475 0.3 142.5 Amend critical risk issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 19-Aug-01 475 0.4 190,0 Phone call with M. Donnelly regarding risk issues and claim allocations.

Peko, J. 19-Aug-01 475 1.2 570.0 Analyze allocation model for maximum cash.

Participate in Negotiation and Formulation of Plan of Reorganization Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 20-Aug-01 475 1.0 475.0 Meeting with B. Shaw regarding interest payment calculations.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 20-Aug-0 I 475 0.2 95.0 Meeting with Arthur Anderson regarding collateral values.

Peko, J. 20-Aug-0C 475 0.2 95.0 Sent out DS review notice.

Participate in Negotiation and Formulation of Plan of Reorganization Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 20-Aug-0 I 475 0.4 190.0 Analyze interest calculations prepared by Ken Lee.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 20-Aug-0C 475 0.6 285.0 Meeting with Ken Lee regarding interest rate calculations.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 21-Aug-01 475 0.2 95.0 Conversations and e-mail with Orrick regarding terms and conditions of bonds.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 21-Aug-01 475 2.5 1,187.5 Review disclosure statement.

Participate in Negotiation and Formulation of Plan ofReorganization Peko, J. 21-Aug-01 475 0.5 237.5 Review POR Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 21-Aug-01 475 0.2 95.0 Discussion with Kathy Tappero regarding payment ofprincipal on mortgage bonds.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 21-Aug-01 475 0.3 142.5 Discussion with Rothschild related to allocations and interest calculations.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 21-Aug-01 475 0.3 142.5 Discussion with Rothschild regarding creditor treatment for DS.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 21-Aug-01 475 1.2 570.0 Conference call related to capital market issues.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 21-Aug-01 475 1.9 902.5 Review amended disclosure statement.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 21-Aug-0C 475 0.3 142.5 Analyze amended interest payment schedule.

Peko, J. 21-Aug-01 475 0.2 95.0 Call with L. Barnes regarding allocations.

Participate in Negotiation and Formulation of Plan ofReorganization Peko, J. 22-Aug-0C 475 2.8 1,330.0 Meeting to review amended disclosure statement and follow-up comments with B. Lange.

Participate in Negotiation and Formulation of Plan of Reorganization Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 22-Aug-01 475 0.4 190.0 Meeting with K. Tappero to discuss default interest rates, Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 22-Aug-Cl 475 0.2 95.0 Discussion with Q. Carlson regarding capital structure.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D PCD Code Description Professlonal Date Rate flours Fees Comments Participate in Negotiation and Formulation ofPlan ofReorganizationi Peko, J. 22-Aug-01 475 0.2 95.0 Discussions with Anderson regarding debt allocation.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 22-Aug-0 I 475 0.3 142.5 Discussions with M. Nachimson related to POR.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 22-Aug-01 475 0.4 190.0 Review cash distribution and allocation model.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 22-Aug-01 475 1.2 570.0 Claims allocation analysis with Q Carlson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 22-Aug-01 475 0.8 380.0 Meeting with L. Barnes regarding creditor treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 23-Aug-0l 475 0.8 380.0 Discussions with Orrick, Lehman WGM regarding new opco structure.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 24-Aug-01 475 0.3 142.5 Review interest calculations on FRN and bank revolver.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Aug-01 475 0.2 95.0 Discussion with K. Lee regarding CP maturities and rates.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 24-Aug-01 475 0,2 95.0 Analyze mortgage premium treatment under Code prepared by WGM.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 24-Aug-01 475 0.7 332.5 Analyze mortgage prepayments and minimum interest rate requirements.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Aug-01 475 0.1 47.5 Review Fed Judg rates.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Aug-0 I 475 0.6 285.0 Discussions with K. Tappero regarding call premiums, interest rates and avg cost of debt under new debt structure.

Participate in Negotiation and Formulation ofPlani of Reorganization Peko, J. 24-Aug-01 475 0.1 47.5 Conversation with K. Lee regarding FRN interest.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Aug-01 475 0.3 142.5 Discussion with K. Tappero on restrueturing model.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Aug-01 475 1.2 570.0 Discussions with Q Carlson regarding pre/post petition interest.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 24-Aug-01 475 0.4 190.0 Model call premium liabilities.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 26-Aug-01 475 1.0 475.0 Post and pre-petition interest treatment modeling.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 27-Aug-01 475 0.3 142.5 Analyze interest rate calculation methodology.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 27-Aug-01 475 0.5 237.5 Review interest rate calculations pre/post.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 27-Aug-0 I 475 0.4 190.0 Discussions with K. Tappero regarding weighted cost ofdebt for newcos.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 27-Aug-01 475 0.5 237.5 Interest rate discussion with Rothschild.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 28-Aug-01 475 0.6 285.0 Analyze cost ofdebt for each newco.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 28-Aug-01 475 0.1 47.5 Discussion with K. Tappero regarding newco interest rates.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 28-Aug-01 475 0.6 285.0 Meeting with L. Barnes regarding critical open items arid go forward strategy.

Participate in Negotiation mid Formulation of Plan of Reorganization Peko, J. 28-Aug-01 475 3.1 1,472.5 Analyze amended disclosure statement.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 28-Aug-01 475 0.5 237.5 Discussions with Orrick related to debt allocations.

Participate ii Negotiation and Formulation of Plan of Reorganization Peko, J. 28-Aug-01 475 0.1 47.5 Discussion with Orrick regarding disclosure statement.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 29-Aug-01 475 0.3 142.5 Discussion with K. Tappero/K. Lee regarding pre-petition payments to CP holders.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 29-Aug-01 475 0.1 47.5 Call with 0. Benz regarding tax issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 29-Aug-0 I 475 0.1 47.5 Call with L. Barnes regarding tax issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 29-Aug-01 475 0,7 332.5 Creditor consideration meeting.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 30-Aug-01 475 0.3 142.5 Update M. Donnelly on POR matters.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 30-Aug-01 475 0.2 95.0 Post petition interest with calculation with B. Shaw.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 30-Aug-01 475 1.0 475.0 Adjust PC savings model.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 30-Aug-01 475 0.3 142.5 Compare post petition interest calculations with Rothschild.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 30-Aug-01 475 0.5 237.5 Discussion with Orrick and Lehman regarding POR matters.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 30-Aug-01 475 0.2 95.0 Discussion with Rothschild re: interest rateq.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 30-Aug-01 475 1.9 902.5 Discussion ofopen items for POR with M. Donnelly.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 31-Aug-01 475 1.0 475.0 Cover open items and potential amendment to creditor treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 3 1-Aug-01 475 0.8 380.0 Conf Call with Rothschild and finance team related to creditor allocations, maturities and interest payment treatment.

Participate in Negotiation and Formulation ofPlan ofReorganization Peko, J. 31-Aug-01 475 0.4 190.0 Discussions with Rothschild related to creditor treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J, 4-Sep-01 475 0.4 190.0 Meeting with M. Donnelly to discuss POR comments and allocation methodology for Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3 4-Sep-0C 475 2.1 997.5 All hands meeting to discuss claims treatment in preparation for ratings meeting.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 4-Sep-0 I 475 0.1 47.5 Call with Lehman re: terms and conditions ofbonds.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3 4-Sep-01 475 1.9 902.5 Review amended disclosure statement.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 4-Sep-01 475 0.3 142.5 Review amended allocation model.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Sep-01 475 03 142.5 Analyze DS issues with Q. Carlson Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Sep-01 475 0.1 47.5 Discuss LC treatment with Nachimson.

01 Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Sep- 475 0.2 95.0 Review of QF status report.

01 Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Sep- 475 0.3 142.5 Research officer certificate stipulation.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D PCD Code Description Date Rate Hours Fees Comments Professional P Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Sep-01 475 0.3 142.5 Meeting with K. Lee to discuss interest calculations.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 5-Sep-01 475 0.5 237.5 Discuss DS issue with M. Nachimson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Sep-01 475 0.5 237.5 Preparation for DS meeting.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Sep-01 475 1.0 475.0 Analyze assignment agreement.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Sep-01 475 0.3 142.5 Review application ofjudgment rates.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 5-Sep-01 475 4.0 1,900.0 Meeting to review DS Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 6-Sep-01 475 0.3 142.5 Review treatment of PC with K. Tappero.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, 3. 6-Sep-01 475 0.4 190.0 Analyze debt capacity with Q. Carlson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 6-Sep-01 475 0.5 237.5 Meeting with Lehman to review amended terms and conditions of bonds.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 6-Sep-0 I 475 0.2 95.0 Analyze PC LC bank group and commitments.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 6-Sep-01 475 0.5 237.5 Review amended terms and conditions oflbonds.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, 3 6-Sep-01 475 0.5 237.5 Review/research stipulation points 13, 14 and signoff for B. Molloy.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 6-Sep-01 475 0.7 332.5 Conference call with Lehman and Rothschild to review claim amounts and treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 6-Sep-01 475 0.2 95.0 Discuss monthly officers certificate sign off for stipulation with Nachimson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 6-Sep-01 475 0.2 95.0 Discuss PC LC treatment with K. Tappero.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 6-Sep-01 475 0.2 95.0 Discuss terms and conditions ofdebt with Orrick.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 7-Sep-01 475 0.2 95.0 Discussion of assignment with Q. Carlson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 7-Sep-01 475 0.3 142.5 Prepare and send comments on sub debt to Orrick Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 7-Sep.01 475 3.1 1,472.5 Conference Call - WGM POE re: claim allocations and PC treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 7-Sep-01 475 0.3 142.5 Discuss claims amounts for DS with K. Tappero.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 7-Sep-01 475 0.2 95.0 Send claim amounts to J. Tabor.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, 3. 7-Sep-01 475 0.3 142.5 Discussion with Q. Carlson re: pre-petition claims.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Sep-01 475 1.0 475.0 Review fee application.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Sep-01 475 0.7 332.5 Meeting to analyze creditor treatment and PC bond allocations.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Sep-01 475 0.4 190.0 Analyze amended debt allocations and PC bond treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Sep-01 475 0.2 95.0 Discuss PC bond treatment with M. Nachimson.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Sep-01 475 0.2 95.0 Discuss MBIA treatment with K. Tappero.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Sep-01 475 0.1 47.5 Discuss bond terms with Orrick.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Sep-01 475 0.1 47.5 Call with WOM regarding mortgage bonds in treasury.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 10-Sep-01 475 0.3 142.5 Review and respond to e-mail related to creditor treatment in POR Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. I1-Sep-01 475 0.2 95.0 Analyze pre-petition interest claims.

Peko, J. Il-Sep-01 475 1.9 902.5 Review DS and pOR Participate in Negotiation and Formulation ofPlan of Reorganization Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 12-Sep-01 475 0.5 237.5 Prepare for DS review meeting.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 12-Sep-01 475 0.9 427.5 All hands PC bond treatment meeting.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 12-Sep-01 475 3.6 1,710.0 Meeting to analyze review amended DS.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 13-Sep-01 475 0.2 95.0 Discussion with K. Tappero re: assumed liabilities.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 13-Sep-01 475 0.2 95.0 Discussion with M. Nachimson regarding PC bond treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 13-Sep-01 475 0.4 190.0 Meeting with Rothschild re: pre-petition interest.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 13-Sep-01 475 0.5 237.5 Discussion with M. Nachimson and M. Donnelly re: PC treatment.

Peko, 3. 13-Sep-01 475 0.6 285.0 Fee app preparation.

Participate in Negotiation and Formulation ofPlan of Reorganization 4 Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 1 -Sep-01 475 0.9 427.5 Analyze amended disclosure statement.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 14-Sep-01 475 0.2 95.0 Discussion with Orrick re: formation and capitalization of company.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 14-Sep-01 475 2.0 950.0 Meeting with M. Donnelly re: psot petition interest and negotiating strategy for PC LC bonds.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 14-Sep-01 475 4.5 2,137.5 Meeting to review DS.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 14-Sep-01 475 0.5 237.5 Review and provide comments on assumptions to financials for DS.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 17-Sep-01 475 0.5 237.5 Discussions with M. Donnelly re: interest rates and PC bond treatment.

and Formulation of Plan of Reorganization Peko, J. 17-Sep-01 475 1.2 570.0 Analyze and adjust claims and allocations based on revised numbers.

Participate in Negotiation Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 17-Sep-01 475 0.4 190.0 Analyze Rothschild pre/post petition interest rate calculations.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 17-Sep-01 475 0.3 142.5 Discussions with K. Tappero / Q. Carlson re: preferred stock treatment.

Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 17-Sep-01 475 02 95.0 Discussion with M. Nachimson re: PC bond treatment.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 17-Sep-01 475 0.2 95.0 Discussions with M. Donnelly re: PC contingent claims.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D Rate flours Professional Date Fees Comments PCD Code Description 17-Sep-01 475 2.2 1,045.0 Review amended Disclosure Statement Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

Peko, J. 18-Sep-01 475 0.2 95.0 Conference call with Orrick to determine what bond termLs to include in POR.

Participate in Negotiation and Formulation of Plan of Reorganization 1.2 570.0 Analyze and respond to Rothschild questions re: debt allocations.

Peko, J. 18-Sep-01 475 Participate in Negotiation and Formulation of Plan of Reorganization 0.6 285.0 Analyze amended terms and conditions for debt instruments.

Peko, J. 18-Sep-01 475 Participate in Negotiation and Formulation of Plan of Reorganization 0.4 190.0 Conference call with Rothschild re: debt allocations and interest calculations.

Peko, J. 18-Sep-01 475 Participate in Negotiation and Formulation ofPlan of Reorganization 0.7 332.5 Analyze allocations and debt distributions.

Peko, J. 18-Sep-01 475 Participate in Negotiation and Formulation of Plan of Reorganization 0.2 95.0 Analyze debt trading language.

Peko, J. 18-Sep-01 475 Participate in Negotiation and Formulation ofPlan of Reorganization 475 0.2 95.0 Discussions with Orrick re: debt terms and conditions.

Peko, J. 18-Sep.01 Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3. 18-Sep-01 475 0.2 95.0 Provide comments on debt terms and conditions to Orrick via e-mail.

Participate in Negotiation and Formulation of Plan of Reorganization 0.2 95.0 Call with Orrick and M. Donnelly re: zero coupon option on sub debt.

Peko, J. 18-Sep-01 475 Participate in Negotiation and Formulation of Plan of Reorganization 0.2 95.0 Call with M. Donnelly re: terms ofbonds.

Peko, J. 18-Sep-01 475 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.1 47.5 Call with M. Donnelly re: negative lien language.

Peko, J. 18-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.1 47.5 Call with Orrick re: negative lien language.

Peko, J. 18-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.3 142.5 Call with Orrick and WOM re: prior bonds.

Peko, J. 19-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.2 95.0 Call with Orrick re: maturity distributions.

Peko, J. 19-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.1 47.5 Call with M. Donnelly re: convenience class breakdown.

Peko, J. 19-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.2 95.0 Call with M. Donnelly re: maturity allocations.

Peko, J. 19-Sep-01 Participate in Negotiation and Formulation ofPlan of Reorganization 475 0.2 95.0 Discussion with J. Thomas re: convenience class claims.

Peko, 3. 19-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.1 47.5 Call with WGM/POE re: quids/convenience class.

Peko, J. 19-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.2 95.0 Call with M. Donnelly re: convenience claims / quids impact.

Peko, J. 19-Sep-01 Participate in Negotiation and Formulation ofPlan of Reorganization 475 2.9 1,377.5 Review/analyze amended Disclosure Statement Peko, J. 19-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.2 95.0 Call with WGM to discuss treatment ofprior bonds.

Peko, J. 19-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.4 190.0 Call with Orrick to provide comments on amended Dis Statement Peko, J. 19-Sep-01 Participate in Negotiation and Formulation ofPlan of Reorganization 475 0.5 237.5 Call with PO&E re: interim interest on LC backed PC bonds.

Peko, J. 19-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 1.2 570.0 Conference call re: POR Peko, 3. 20-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.1 47.5 Analyze bank LC and breakeven rates.

Peko, J. 20-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.2 95.0 Call with K. Lee regarding interest rate assumptions.

Peko, 3. 26-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.2 95.0 Call with B. Shaw re: issues related to POR Peko, J. 28-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.2 95.0 Analyze interest rates for senior notes.

Peko, J. 28-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 28-Sep-01 475 0.3 142.5 Review debt allocation Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 475 0.3 142.5 Review July billing detail.

Peko, J. 28-Sep-01 Participate in Negotiation and Formulation ofPlan of Reorganization 475 0.6 285.0 Conference call with M. Donnelly to review issues from analysts, creditors, etc.

Peko, J. 28-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.3 142.5 Discussion with Q Carlson re: 100% cash for interest and corresponding debt issues.

Peko, J. 28-Sep-01 Participate in Negotiation and Formulation of Plan of Reorganization 12-Oct-01 475 0.1 47.5 Teleconference with M. Nachimson re workplan Peko, 3.

Participate in Negotiation and Formulation of Plan of Reorganization 475 0.2 95.0 Conference call with Mike Donnelly Peko, J. 12-Oct-01 Participate in Negotiation and Formulation of Plan of Reorganization 12-Oct-01 475 0.3 142.5 Call with Mike Donnelly to discuss POR summary Peko, 3.

Participate in Negotiation and Formulation ofPlan of Reorganization 15-Oct-01 475 0.3 142.5 Call with M. Donnelly re: project management Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 475 0.3 142.5 Review POR work plan and goals for finance team Peko, J. 15-Oct-01 Participate in Negotiation and Formulation of Plan of Reorganization 475 0.2 95.0 Prepare for finance team meeting Peko, J. 15-Oct-01 Participate in Negotiation and Formulation of Plan of Reorganization 15-Oct-01 475 0.3 142.5 Call with M. Donnelly re: financing team meeting Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 16-Oct-01 475 3.2 1,520.0 Financing meeting to clarify schedule and key issues Peko, J.

Participate in Negotiation and Formulation ofPlan of Reorganization 16-Oct-0 I 475 0.2 95.0 Discussion with M. Donnelly related to key issues for financing team meeting Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 16-Oct-01 475 02 95.0 10/9 signoffon monthly officers certificate Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 18-Oct-01 475 0.8 380.0 Prepare time and responsibility schedule Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 18-Oct-01 475 0.2 95.0 Call with Orrick re: open issues Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 475 0.1 47.5 Call with M. Donnelly re: issues Peko, J. 19-Oct-01 Participate in Negotiation and Formulation of Plan of Reorganization 19-Oct-0 I 475 1.1 522.5 Review draft & incorporate changes from WOM, HR and Lehman on outstanding issues Peko, J.

Participate in Negotiation and Formulation ofPlan of Reorganization 19-Oct-01 475 0.1 47.5 Call with Howard Rice re: issues Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 19-Oct-01 475 0.1 47.5 Call to WOM re: issues Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 19-Oct-01 475 0.1 47.5 Call from Lehman re: issues Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 20-Oct-01 475 2.2 1,045.0 Prepare and review issues Peko, J.

Participate in Negotiation and Formulation ofPlan of Reorganization 21-Oct-01 475 0.3 142.5 Finalize issue and responsibility timetable Peko, J.

Participate in Negotiation and Formulation of Plan of Reorganization 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D j

• I I I Professional Date Rate flours Fees Comments PCD Code Description Peko, J. 22-Oct-01 475 0.2 95.0 Call with M. Donnelly to discuss outstanding issues on POR and creditors Participate in Negotiation arid Formulation of Plan of Reorganization Peko, 3 23-Oct-01 475 0.2 95.0 Call with R. Morrison re: PC LC funding levels Participate in Negotiation and Formulation of Plan of Reorganization Peko, 3 25-Oct-01 475 0.2 95.0 RE: resolution of PC bank negotiation and impact of paying mortgage bonds Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 25-Oct-01 475 0.2 95.0 Call with M. Donnelly re: negotiation Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 25-Oct-01 475 0.1 47.5 Review e-mail re: PC bonds from B. Britton Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 25-Oct-01 475 0.8 380.0 Conference call with Barnes and Donnelly re: time and responsibilities Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 27-Oct-01 475 0.2 95.0 Call with M. Donnelly re: POR Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 27-Oct-01 475 0.3 142.5 Draft time and responsibility for open issues Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 28-Oct-01 475 1.4 665.0 Draft time and responsibility by task and phase Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 29-Oct-01 475 0.1 47.5 Call with M. Donnelly re: PC bond meeting/responsibilites Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 29-Oct-0C 475 0.3 142.5 Discussions with M. Nachimson with regard to POR work plan Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 29-Oct-01 475 1.7 807.5 Conference Call re: PC bond treatment Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J. 30-Oct-01 475 02 95.0 Call with Orrick re: indentures Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 30-Oct-01 475 1.5 712.5 Amend review time and responsibility schedule Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 30-Oct-01 475 0.2 95.0 Call with M. Donnelly re: task list Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 31-Oct-01 475 0.5 237.5 Conference call with Messrs. Harvey, Barnes and Donnelly re: organization Participate in Negotiation and Formulation of Plan of Reorganization Peko, J. 31 -Oct-C l 475 0.6 285.0 Call with M. Donnelly and preparation for conference call re: organization Participate in Negotiation and Formulation of Plan of Reorganization Peko, I. 1-Nov-01 475 2.4 1,140.0 Preparation for and actual conference call with Orrick and PGE re: cromium claims/PC Participate in Negotiation and Formulation of Plan of Reorganization bonds organization issues 2-Nov-01 475 0.2 95.0 Call with M. Donnelly re: indenture Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

6-Nov-01 475 0.8 380.0 Review financial disclosure in 204 filing Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

7-Nov-01 475 0.3 142.5 Call with M. Donnelly re: financing issue related to 204 Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

8-Nov-01 475 0.5 237.5 Conference call re: financial sections of regulatory Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

9-Nov-01 475 0.2 95.0 Call with M. Donnelly re: 204 filing Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

16-Nov-01 475 0.3 142.5 Discussion with M. Donnelly re: regulatory filings Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

27-Nov-01 475 0.4 190.0 Conference Call with Mike Donnelly re: creditor issues.

Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

28-Nov-01 475 1.2 570.0 Conference call - Mike Donnelly and J. York re: open POR issues Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

28-Nov-01 475 2.8 1,330.0 Analyze draft Disclosure Statement Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

29-Nov-01 475 1.0 475.0 Analyze terms and conditions for LC banks Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

30-Nov-01 475 0.3 142.5 Call with M. Donnelly re: POR Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

3-Dec-01 475 0.5 237.5 Prepare for DS all hands meeting Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

3-Dec-01 475 0.2 95.0 Review ofinterim invoice Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

3-Dec-01 475 1.5 712.5 Analyze Rothschild DS comments and follow-up items prepared by WOM Participate in Negotiation and Formulation of Plan of Reorganization Peko, J, 3-Dec-Cl 475 5.6 2,660.0 Conference call with financial instrument team re: DS Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

3-Dec-01 475 2.0 950.0 Analyze POR Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

3-Dec-01 475 0.2 95.0 Analyze Sidley Austin memo re: Bank set-offrights Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

4-Dec-01 475 1.0 475.0 Financial instmient team conference call re: open issues DS Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

4-Dec-01 475 1.0 475.0 Call with M. Donnelly re: debt allocations Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

5-Dec-01 475 1.5 712.5 Adjust debt allocation model Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

5-Dec-01 475 0.7 332.5 Analyze term sheets and provide comments to Orrick Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

5-Dec-01 475 3.9 1,852.5 Conference Call financial instrument team Participate in Negotiation mid Formulation of Plan of Reorganization Peko, J.

6-Dec-01 475 1.0 475.0 Calls with M. Donnelly re: debt allocations capacity and adjustment Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

6-Dec-01 475 0.6 285.0 Call with M. Donnelly re: debt allocations Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

6-Dec-01 475 0.3 142.5 Analyze registrator of resales Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

6-Dec-01 475 0.5 237.5 Adjust debt allocation model Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

7-Dec-01 475 2.0 950.0 Financial instrument team - DS review meeting Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

10-Dec-01 475 0.5 237.5 Analyze key step following financing completion Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

10-Dec-01 475 0.2 95.0 Discussion with M Kassiesieh re: pre/post petition interest Participate in Negotiation and Formulation ofPlan of Reorganization Peko, J.

10-Dec-01 475 0.2 95.0 Discussion with M. Donnelly re: debt allocations adjustment Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

11-Dec-01 475 0.5 237.5 Adjust debt allocation model Participate in Negotiation and Formulation of Plan of Reorganization Peko, J.

602.7 279,471.5 Participate In Negotiation and Formulation of Plan of Reorganization Total 520.0 Interest rate issues including teleconference with J. Lopes, K. Tapparo & M. Donnelly Nachimson, M. 2-Jul-01 650 0.8 Participate in Other Financing Matters 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D PCD Code Description Professional Date Rate. Itou Fees Comments Participate in Other Financing Matters Nachinison, M. 2-Jul-01 650 1.2 780.0 Cash management issues including teleconference with Mellon Bank anid Mike Donnelly Participate in Other Financing Matters Nachimson, M. 3-Jul.01 650 0.2 130.0 Issue re indenture trustee Participate in Other Financing Matters Nachimson, M. 3-Jul-01 650 0.3 195.0 Review net open position issues including projections and current status Participate in Other Financing Matters Nachinison, M. 5-Jul-01 650 2.3 1,495.0 Review Net open position including meeting with S. Hartman and Mike Donnelly Participate in Other Financing Matters Nachimson, M. 5-Jul-01 650 0.3 195.0 Review tax issues Participate in Other Financing Matters Nachimson, M. 6-Jul-01 650 0.3 195.0 RE bond indenture trustee including teleconference with B. Britton Participate in Other Financing Matters Nachimson, M. 8-Jul-01 650 1.2 780.0 Pollution control board issues including teleconference with agent and counsel Participate in Other Financing Matters Nachimson, M. O-Jul-01 650 1.5 975.0 Review pollution control bond issues Participate in Other Financing Matters Nachimson, M. 12-Jul-01 650 0.5 325.0 Review mortgage bond issues Participate in Other Financing Matters Nachimson, M. 13-Jul-01 650 1.0 650.0 Review debt issues Participate in Other Financing Matters Nachimson, M. 18-Jul-01 650 1.0 650.0 Review mortgage bond issues Participate in Other Financing Matters Nachimson, M. 19-Jul-01 650 0.5 325.0 Review mortgage bond issues Participate in Other Financing Matters Nachimson, M. 23-Jul-01 650 0.6 390.0 Review tax issues Participate in Other Financing Matters Nachimson, M. 26-Jul-01 650 1.0 650.0 Review debt instruments Participate in Other Financing Matters Nachimson, M. 8-Aug-01 650 0.4 260.0 Review officers' certificates re mortgage bonds Participate in Other Financing Matters Nachimson, M. 10-Aug-01 650 0.3 195.0 Review Morgan assignment issues Participate in Other Financing Matters Nachimson, M. 15-Aug-01 650 1.3 845.0 Review pollution control bond stipulations Participate in Other Financing Matters Thomas, J. 5-Jul-01 475 0.6 285.0 Analysis of potential alternatives for financial restricturings Participate in Other Financing Matters Thomas, J. 24-Jul-01 475 1.6 760.0 Review of debt restructuring model Participate in Other Financing Matters Thomas, J. 25-Jul-01 475 1.3 617.5 Analysis of debt restructuring model Participate in Other Financing Matters Thomas, J. 30-Jul-01 475 1.8 855.0 Analysis ofdebt restructuring model re: new debt Participate in Other Financing Matters Thomas, J. 3 1-Jul-01 475 0.9 427.5 Research ofhistorical bond ratings for comparable cases Participate in Other Financing Matters Thomas, J. 31-Jul-01 475 1.2 570.0 Analysis ofdebt capacity matters and working capital requirements of proposed reorganized entity Participate in Other Financing Matters Thomas, J. 1-Aug-01 475 0.2 95.0 Meeting with debtor personnel re: post-petition interest on secured debt.

Participate in Other Financing Matters Thomas, J. 1-Aug-01 475 0.6 285.0 Discussions with V. Fong re: proposed capital expenditure projects Participate in Other Financing Matters Thomas, J. 2-Aug-01 475 0.6 285.0 Research re: large bankruptcy cases of utilities Participate in Other Financing Matters Carlson, Q. 25-Jul-01 275 3.0 825.0 Analysis ofdebt restructuring model incorporating revisions from 1. Peko Participate in Other Financing Matters Carlson, Q. 26-Jul-01 275 2.5 687.5 Review classes of debt under the restructuring plan and compare to classes of liabilities scheduled with the Bankruptcy court Participate in Other Financing Matters Carlson, Q. 31-Jul-01 275 2.4 660.0 Research of historical bond ratings for comparable cases Participate in Other Financing Matters Carlson, Q. 15-Aug-01 275 3.1 852.5 Meeting with M. Donnelly regarding the "Funding Gap" and risks related to the plan Participate in Other Financing Matters Carlson, Q. 16-Aug-01 275 2.4 660.0 Draft preliminary write-up of'other risks associated with plan (ie. Interest rate risk, PC L/C drawn risk, ability to raise new money)

Participate in Other Financing Matters Carlson, Q. 20-Aug-01 275 0.5 137.5 Discussion with L. Barmes and M. Donnelly regarding the matrix of PX / ISO and mortgage payout scenarios Participate in Other Financing Matters Carlson, Q. 22-Aug-01 275 0.5 137.5 Discussion with Y. Liang (Andersen) regarding debt restructuring model Participate in Other Financing Matters Carlson, Q. 23-Aug-01 275 1.2 330.0 Revising pre-petition claim amounts related to certain debt instruments because of interest accrual Participate in Other Financing Matters Carlson, Q. 23-Aug-01 275 0.3 82.5 Analysis preparation re status of defaulted QUID's Participate in Other Financing Matters Carlson, Q. 24-Aug-01 275 4.0 1,100.0 Pre-petition vs post-petition interest analysis Participate in Other Financing Matters Carlson, Q. 27-Aug-01 275 3.1 852.5 Estimating the weighted average cost ofdebt related to the new entities for K. Tappero Participate in Other Financing Matters Carlson, Q. 27-Aug-01 275 2.7 742.5 Applying appropriate rates to determine interest expense during the period between final coupon and confirmation Participate in Other Financing Matters Carlson, Q. 27-Aug-01 275 1.5 412.5 Research offmaturity treasury yields to determine appropriate interest rates for old and new debt in connection with plan Participate in Other Financing Matters Carlson, Q. 27-Aug-01 275 1.5 412.5 Preparing final spreadsheet indicating pre vs post petition Participate in Other Financing Matters Carlson, Q. 30-Aug-01 275 2.9 797.5 Revising pre and post petition interest calculation to reflect latest thinking on debt instruments and negotiated interest rates Participate in Other Financing Matters Carlson, Q 5-Sep-01 275 0.5 137.5 Discussions with B. Shaw and K. Lee re post-petition interest calculation incl DWR, PC MBIA bonds, and Commercial Paper Participate in Other Financing Matters Carlson, Q. 5-Sep-01 275 2.5 687.5 Revising post-petition interest calculation 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31 st, 2002 Exhibit D PCD Code Description Professional Date I Rate Hours Fees Comments, Participate in Uther Financing Matters Carlson, Q. 6-Sep-01 275 1.5 412.5 Reconciling difference between two different post-petition interest calculations Participate in Other Financing Matters Carlson, Q. 17-Sep-01 275 0.5 137.5 Discussion with K. Tappero re working capital requirements associated with each line of business Participate in Other Financing Matters Carlson, Q 17-Sep-01 275 0.5 137.5 Analysis ofthe working capital liability assumptions and the resulting impact on tax basis Participate in Other Financing Matters Carlson, Q. 18-Sep-01 275 0.5 137.5 Prepared analysis for K. Tappero regarding the maturity profiles of the newly issued debt, restructured debt and PC debt Participate in Other Financing Matters Carlson, Q. 18-Sep-01 275 1.1 302.5 Discussions with B. Shaw and J. Peko regarding several issues such as post-petition interest calculations, financing transaction fees and wtd cost of debt Participate in Other Financing Matters Frazier, D. 13-Jul-01 340 II 374.0 Bloomberg analysis of PG&E debt Participate in Other Financing Matters Peko, J. 18-Sep-01 475 1.1 522.5 Discussions with B. Shaw and Q. Carlson regarding several issues such as post-petition interest calculations, financing transaction fees and wtd cost ofdebt Participate in Other Financing Matters Total 64.4 25,274.0 Preparation and Review of Info. Requests and Related Matters Nachimson, M 11 -Jul-01 650 1.0 650.0 Respond to committee requests Preparation and Review ofInufo. Requests and Related Matters Nachimson, M. 18-Jul.01 650 0.3 195.0 Respond to committee requests Preparation and Review oflnfo. Requests and Related Matters Nachimson, M. 23-Jul-01 650 1.0 650.0 Meeting with L. Barnes re committee requests Preparation and Review ofInfo. Requests and Related Matters Nachinison, M. 23-Jul-01 650 1.9 1,235.0 Review committee statement Preparation and Review oflnfo. Requests and Related Matters Nachimson, M. 25-Jul-01 650 0.5 325.0 Review current pleading Preparation and Review oflnfo. Requests and Related Matters Nachimson, M. 26-Jul-01 650 0.6 390.0 Respond to committee requests, teleconference with PWC, Ted Huntley and W. Campbell Preparation and Review oflnfo. Requests and Related Matters Nachimson, M. 27-Jul-01 650 0.3 195.0 Respond to committee request Preparation and Review oflnfo. Requests and Related Matters Nachimson, M 3 l-Jul-01 650 1.0 650.0 Review creditor committee information requests re operating results Preparation and Review of Info. Requests and Related Matters Nachimson, M. 10-Aug-01 650 0.4 260.0 Re committee requests including teleconference with P. Joost Preparation and Review ofInfo. Requests and Related Matters Thomas, J. 2-Jul-01 475 1.3 617.5 Review draft responses to creditor conimittee information requests Preparation and Review of Info. Requests and Related Matters Thomas, J. 5-Jul-01 475 1.3 617.5 Analysis of long-term projections by business line Preparation and Review ofInfo. Requests and Related Matters Thomas, J. 5-Jul-01 475 0.5 237.5 Discussion with D. Hall re: long-term projections of debtor Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 9-Jul-01 475 1.4 665.0 Review draft responses to creditor committee information requests Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 9-Jul-01 475 1.2 570.0 Update information request status report Preparation and Review ofInfo. Requests and Related Matters Thomas, J. 10-Jul-01 475 0.3 142.5 Correspondence with B. Jacobson re: status ofinformation requests.

Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 10-Jul-01 475 0.8 380.0 Discussions with Saybrook Capital re: site visits to company properties.

Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 10-Jul-01 475 1.4 665.0 Review and analysis ofresponses to creditor committee information requests Preparation and Review oflnfo. Requests and Related Matters Thomas, J. I1-Jul-01 475 2.3 1,092.5 Analysis of claims included on schedules as potential response to creditors committee Preparation and Review ofInfo. Requests and Related Matters Thomas, J. 11-Jul-01 475 0.5 237.5 Update status report re: creditor committee information requests Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 13-Jul-01 475 0.8 380.0 Preparation for real estate site visits with creditor committee representatives Preparation and Review ofIn fo. Requests and Related Matters Thomas, J. 13-Jul-01 475 0.7 332.5 Discussions with E. Jacobson re: status of information requests and procedures for updating information already supplied to committee Preparation and Review oflnfo, Requests and Related Matters Thomas, J. 16-Jul-01 475 0.6 285.0 Preparation for participation in real estate site visits with creditor committee representatives.

Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 17-Jul-01 475 0.2 95.0 Discussion with M. Snyder re: creditor committee in formation requests.

Preparation and Review ofInfo. Requests and Related Matters Thomas, J. 17-Jul-01 475 0.4 190.0 Discussion with POE legal re: procedures used to respond to information requests from outside parties.

Preparation and Review of Inro. Requests and Related Matters Thomas, J. 17-Jul-01 475 4.9 2,327.5 Participate in real estate site visits with creditor committee representatives and POE land and building personnel Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 18-Jul-01 475 5.2 2,470.0 Participate in real estate site visits with representatives from creditors committee and POE land and building personnel Preparation and Review of In fo. Requests and Related Matters Thomas, J. 18-Jul-01 475 0.4 190.0 Review draft responses to information requests by creditors committee Preparation and Review ofInfo. Requests and Related Matters Thomas, J. 25-Jul-01 475 0.5 237.5 Review draft responses to creditors committee requests Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 26-Jul-01 475 0.4 190.0 Review draft responses to information requests by the creditors. committee Preparation and Review ofInfo. Requests and Related Matters Thomas, T 27-Jul-01 475 1.1 522.5 Discussions with debtor personnel re: financial projections for generation business Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 30-Jul-01 475 0.9 427.5 Review of draft responses to creditors committee.

Preparation and Review ofInfo. Requests and Related Matters Thomas, J. 30-Jul-01 475 0.5 237.5 Prepare analysis debt grades for comparable deals, Preparation and Review oflinfo. Requests and Related Matters Thomas, J. 1-Aug-01 475 0.8 380.0 Review draft responses to creditor committee information requests Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 2-Aug-01 475 1.2 570.0 Review draft information regarding large capital expenditure projects and determine communication strategy to creditors.

Preparation and Review oflnfo. Requests and Related Matters Thomas, J. 2-Aug-01 475 0.3 142.5 Review draft response to creditor committee information request.

5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D PCD Code Description Professional Date Rate IHours Fees Commen is I Preparation and Review of Info. Requests and Related Matters Carlson, Q. 2-Jul-01 275 0.5 137.5 Discussic n with Don Hall re revenue and expense projections for each business line Preparation and Review ofInfo. Requests and Related Matters Carlson, Q. 5-Jul-01 275 2,1 577.0 Analysis re revenue projections of Diablo Preparation and Review of Info. Requests and Related Matters Carlson, Q. 9-Jul-01 275 0.5 137.5 "o Discussic with E. Jacobsen re information requests Preparation and Review oflnfo. Requests and Related Matters Carlson, Q. 16-Jul-0t 275 1.0 275.0 "o Discussic with K. Lee re various debt instruments ofthe Utility Preparation and Review oflnfo. Requests and Related Matters Carlson, Q. 18-Jul-01 275 0.5 137.5 Review r "all responses to information requests by creditors committee Preparation and Review of In fo. Requests and Related Matters Carlson, Q 30-Jul-01 275 2.5 687.5 Research of other utility bankruptcies and the ratings related to the restructured debt.

Preparation and Review of Info. Requests and Related Matters Carlson, Q. 6-Aug-01 275 2.1 577.5 Research other solvent bankruptcies and treatment of creditors (Dow Coming and Finova)

Preparation and Review ofInfo. Requests and Related Matters Carlson, Q 8-Aug-01 275 2.5 687.5 Research holders of Mtg bondholders and preparing summary report of the owners Preparation and Review of Info. Requests and Related Matters Frazier, D. 6-Jul-01 340 0.8 272.0 Review Pnd file documents sent to PWC per data request Preparation and Review oflnfo. Requests and Related Matters Frazier, D. 12-Jul-01 340 0.9 306.0 Review ems sent by Dick Patterson to PWC regarding data request Preparation and Review oflnfo. Requests and Related Matters Frazier, D. 17-Jul-01 340 1.5 510.0 Discuss ,ith PG&E staffand Marg Neis (PWC) to track down creditor commitee requested Schedule F cd rom of SOFA statements Preparation and Review of Info. Requests and Related Matters Frazier, D. 19-Jul-01 340 0.7 238.0 Review ems sent by Dick Patterson to PWC regarding data request Preparation and Review of Info. Requests and Related Matters Total 52.5 23,295.5 Preparation of Fee/Expense Applications Nachimson, M. 27-Jul-01 650 0.8 520.0 Prepare -e filing Preparation of Fee/Expense Applications Nachimson, M. 10-Aug-01 650 0.4 260.0 Preparati m of billing data including teleconference with Mike Donnelly and D. Mistry Preparation of Fee/Expense Applications Carlson, Q. 14-Aug-01 275 1.2 330.0 Preparati ,n of time and expense detail related to July Preparation of Fee/Expense Applications Carlson, Q. 22-Aug-01 275 4.3 1,182.5 Preparint invoice for July services to the debtor Preparation of Fee/Expense Applications Carlson, Q. 22-Aug-01 275 1.4 385.0 Preparmnt projections of EYCA's monthly fee estimates for the Debtor Preparation of Fee/Expense Applications Carlson, Q. 22-Mar-02 275 2.4 660.0 Preparinl fee application for period July 2001 through the end of March 2002 Preparation of Fee/Expense Applications Carlson, Q. 24-Mar-02 275 2.5 687.5 Organizi ig EYCF professionals time Preparation of Fee/Expense Applications Carlson, Q. 24-Mar-02 275 1.1 302.5 Compilir g detail reports for Fee Application #2 Preparation of Fee/Expense Applications Carlson, Q. 25-Mar-02 275 2.5 687.5 Preparat o of fee application signature page / time descriptions Preparation of Fee/Expense Applications Carlson, Q. 25-Mar-02 275 3.6 990.0 Integratii g time and expense information into fee application detail database Preparation of Fee/Expense Applications Carlson, Q. 27-Mar-02 275 3.1 852.5 Fee app! cation #2 preparation - finishing report Prepiaration of Fee/Expense Applications Total 23.3 6,857.5 Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 6-Jul-01 650 0.5 325.0 Preparati on for committee meeting including teleconference with J. Lopes Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 10-Jul-01 650 1.7 1,105.0 Preparat' on for creditors committee meeting including teleconference with Clara Strand/E ank of America Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 11-Jul-01 650 1.8 1,170.0 Preparat on for committee meeting Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 12-Jul-01 650 4.6 2,990.0 Preparat on for and participation in meeting with creditors committee Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 17-Jul-01 650 1.4 910.0 Preparat ,on for committee meeting including teleconference with debtor team and J.

18-Jul-0 1 650 1.5 975.0 Prepare ,or creditors meeting Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M.

Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 19-Jul-01 650 1.0 650.0 Debthol "lerteleconference Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 19-Jul-01 650 4.6 2,990.0 Preparal ion for and participation in creditors committee meeting Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 24-Jul-01 650 1.5 975.0 Preparal ion for committee meeting Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 24-Jul-01 650 1.0 650.0 Telecon erence with Lehman, PWC re financing trust Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 26-Jul-01 650 4.5 2,925.0 Creditor Scommittee meeting Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 26-Jul-01 650 0.3 195.0 Discuss on with J. Thomas and PwC re: follow up questions re: generation business Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 3 1-Jul-01 650 0.8 520.0 Meetint with Leroy Barnes re creditors committee 31-Jul-01 650 2.2 1,430.0 Preparal ion for creditors committee meeting Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M.

Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 2-Aug-01 650 1.0 650.0 Review ;reditor committee issues re operating Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 6-Aug-01 650 0.8 520.0 Preparae ion for committee meeting Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 7-Aug-01 650 1.4 910.0 Preparae ion for committee meeting including review of presentation 9-Aug-01 650 5.2 3,380.0 Preparae ion for and participation in committee meeting Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M.

Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 14-Aug-01 650 0.8 520.0 Review creditor committee issue with L. Barnes and K. Harvey 15-Aug-01 650 1.5 975.0 Meetinj with debtor, counsel and Rothchild to discuss creditor issues Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M.

Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M. 20-Aug-01 650 1.0 650.0 Review debt alternatives 22-Aug-01 650 1.2 780.0 Review debt issues in connection with upcoming creditor committee meetings Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M.

31-Aug-01 650 0.5 325.0 Review disclosure statement Preparation/Participation in Creditor Committee Meetings & Conference C Nachimson, M.

Preparation/Participation in Creditor Committee Meetings & Conference C Thomas, J. 5-Jul-01 475 0.6 285.0 Preparai ion for site visits with creditor committee representatives 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Time Detail by PCD Code, July 1st, 2001 through March 31st, 2002 Exhibit D PCD Code Description Professional Date Rate Hours Fees Comments Preparation/Participation in Creditor Committee Meetings & Conference C Thomas, J 6-Jul-01 475 5.2 2,470.0 Meeting and site tour with creditors committee representatives re: non-generation real property Preparation/Participation in Creditor Committee Meetings & Conference C Thomas, J. 26-Jul-01 475 0.8 380.0 Preparation for meeting with PwC re: generation business Preparation/Participation in Creditor Committee Meetings & Conference C Thomas, J. 26-Jul-01 475 0.3 142.5 Discussion with M. Nachimson and PwC re: follow up questions re: generation business forecasts Preparation/Participation in Creditor Committee Meetings & Conference C Thomas, J. 27-Jul-01 475 0.4 190.0 Discussion with debtor personnel re: meeting with creditors committee reps Preparation/Participation in Creditor Committee Meetings & Conference C Thomas, J. 27-Jul-01 475 0.5 237.5 Preparation for meeting with creditors committee reps. Re: generation business Preparation/Participation in Creditor Committee Meetings & Conference C Tlhomias, J. 27-Jul-01 475 0.5 237.5 Follow up conversation with creditors committee reps re: generation business Preparation/Participation in Creditor Committee Meetings & Conference C Thomas, J. 27-Jul-01 475 1.2 570.0 Meeting with creditors committee reps and debtor personnel to discuss genieration business Preparation/Participation in Creditor Committee Meetings & Conference C Thomas, I. 30-Jul-01 475 0.6 285.0 Discussions with creditors committee representatives re: follow up questions to business plan presentation, Preparation/Participation in Creditor Committee Meetings & Conference C Thomas, J. 31-Jul-01 475 1.4 665.0 Prepare analysis of capital expenditure projections for discussion with creditors' conmnittee Preparation/Participation in Creditor Committee Meetings & Conference C Frazier, D. 17-Jul-01 340 1.1 374.0 Meet with Dick Patterson and pwc team regarding recent analyses Prelpration/Participation in Creditor Committee Meetings & Conference Calls Total 53.4 32,356.5 Grand Total 920.0 411,394.0 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Expense Summary, April 6, 2001 through March 31, 2002 Ground I Professional Air Transportation Lodging Meals Other ]L iztal Nachimson, M. $ 9,919.75 $ 4,125.50 $ 10,138.96 $ 1,428.27 $ 80.50 $ 25,692.98 Thomas, J. 510.00 - - 9.00 519.00 Ainsworth, J. 594.40 594.40 Carlson, Q. 16,392.75 2,553.00 28,887.56 4,341.71 213.00 52,388.02 Na, J. 37.00 33.70 70.70 Frazier, D. 2,532.50 1,083.00 5,012.95 1,096.63 432.01 10,157.09 Peko, J. 28,116.50 1,717.82 8,796.24 2,433.99 507.06 41,571.61 Total $ 56,961.50 $ 10,620.72 $ 52,835.71 $ 9,334.30 $ 1,241.57 $ 130,993.80 5/15/2002

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional Date Amt Expense Type I-Ainsworth, J. 04/06/01 29.00 Ground Transportation Ainsworth, J. 04/09/01 29.00 Ground Transportation Nachimson, M. 04/20/01 69.01 Meals Carlson, Q. 04/22/01 3,078.00 Air Carlson, Q. 04/22/01 40.00 Ground Transportation Carlson, Q. 04/22/01 38.00 Ground Transportation Carlson, Q. 04/23/01 14.00 Ground Transportation Carlson, Q. 04/23/01 17.00 Meals Carlson, Q. 04/23/01 14.00 Meals Thomas, J. 04/23/01 15.00 Ground Transportation Carlson, Q. 04/24/01 14.00 Ground Transportation Carlson, Q. 04/24/01 14.00 Meals Thomas, J. 04/24/01 15.00 Ground Transportation Carlson, Q. 04/25/01 14.00 Ground Transportation Carlson, Q. 04/25/01 22.00 Meals Carlson, Q. 04/25/01 7.00 Meals Thomas, J. 04/25/01 15.00 Ground Transportation Carlson, Q. 04/26/01 19.00 Meals Carlson, Q. 04/26/01 5.00 Meals Carlson, Q. 04/26/01 14.00 Ground Transportation Carlson, Q. 04/26/01 58.00 Air Carlson, Q. 04/27/01 1,548.55 Lodging 04/27/01 40.00 Ground Transportation Carlson, Q.

Carlson, Q. 04/27/01 3.00 Meals 04/27/01 7.00 Ground Transportation Carlson, Q.

Carlson, Q. 04/27/01 37.00 Ground Transportation 04/27/01 58.00 Air Carlson, Q.

Nachimson, M. 04/27/01 73.31 Meals 04/30/01 39.00 Ground Transportation Ainsworth, J.

04/30/01 20.60 Ground Transportation Ainsworth, J.

04/30/01 12.00 Meals Carlson, Q.

Carlson, Q. 04/30/01 58.00 Air Nachimson, M. 04/30/01 1,558.75 Air Nachimson, M. 04/30/01 1,684.39 Lodging Nachimson, M. 04/30/01 44.00 Ground Transportation Nachimson, M. 04/30/01 2.50 Other Nachimson, M. 04/30/01 10.00 Ground Transportation Nachimson, M. 04/30/01 48.00 Ground Transportation

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional jDate Amt Expense Type I Nachimson, M. 04/30/01 38.00 Ground Transportation Nachimson, M. 04/30/01 67.00 Ground Transportation Nachimson, M. 04/30/01 45.00 Ground Transportation Nachimson, M. 04/30/01 28.00 Ground Transportation Nachimson, M. 04/30/01 42.00 Ground Transportation Nachimson, M. 04/30/01 35.00 Ground Transportation Nachimson, M. 04/30/01 36.00 Ground Transportation Nachimson, M. 04/30/01 41.00 Ground Transportation Nachimson, M. 04/30/01 51.00 Ground Transportation Nachimson, M. 04/30/01 35.00 Ground Transportation Nachimson, M. 04/30/01 41.00 Ground Transportation Thomas, J. 04/30/01 15.00 Ground Transportation Ainsworth, J. 05/01/01 20.60 Ground Transportation Ainsworth, J. 05/01/01 39.00 Ground Transportation Carlson, Q. 05/01/01 1,185.25 Air Carlson, Q. 05/01/01 8.00 Meals Nachimson, M. 05/01/01 310.50 Air Nachimson, M. 05/01/01 63.28 Meals Nachimson, M. 05/01/01 38.00 Ground Transportation Nachimson, M. 05/01/01 7.00 Ground Transportation Thomas, J. 05/01/01 15.00 Ground Transportation Ainsworth, J. 05/02/01 20.60 Ground Transportation Ainsworth, J. 05/02/01 39.00 Ground Transportation Carlson, Q. 05/02/01 21.00 Meals Nachimson, M. 05/02/01 138.61 Lodging Nachimson, M. 05/02/01 40.00 Ground Transportation Nachimson, M. 05/02/01 23.00 Ground Transportation Thomas, J. 05/02/01 15.00 Ground Transportation Ainsworth, J. 05/03/01 20.60 Ground Transportation Ainsworth, J. 05/03/01 39.00 Ground Transportation Carlson, Q. 05/03/01 350.50 Air Carlson, Q. 05/03/01 1,482.01 Air Carlson, Q. 05/03/01 17.00 Meals Carlson, Q. 05/03/01 8.00 Ground Transportation Carlson, Q. 05/03/01 11.00 Meals Carlson, Q. 05/04/01 1,548.55 Lodging Carlson, Q. 05/04/01 24.00 Meals Carlson, Q. 05/04/01 8.00 Meals

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 IProfessional jDate Amt Expense Type -j Carlson, Q. 05/04/01 24.50 Ground Transportation Carlson, Q. 05/04/01 23.50 Ground Transportation Nachimson, M. 05/04/01 350.50 Air Nachimson, M. 05/04/01 36.00 Ground Transportation Nachimson, M. 05/04/01 15.00 Ground Transportation Nachimson, M. 05/04/01 40.00 Ground Transportation Nachimson, M. 05/04/01 15.00 Ground Transportation Carlson, Q. 05/06/01 2,078.00 Lodging Carlson, Q. 05/06/01 22.00 Ground Transportation Na, J. 05/06/01 17.00 Ground Transportation Na, J. 05/06/01 33.70 Meals Na, J. 05/06/01 20.00 Ground Transportation Ainsworth, J. 05/07/01 39.00 Ground Transportation Ainsworth, J. 05/07/01 20.60 Ground Transportation Carlson, Q. 05/07/01 14.00 Meals Carlson, Q. 05/07/01 14.00 Ground Transportation Carlson, Q. 05/07/01 8.00 Meals Nachimson, M. 05/07/01 99.00 Air Nachimson, M. 05/07/01 58.00 Ground Transportation Nachimson, M. 05/07/01 8.00 Ground Transportation Nachimson, M. 05/07/01 32.05 Meals Ainsworth, J. 05/08/01 20.60 Ground Transportation Ainsworth, J. 05/08/01 39.00 Ground Transportation Carlson, Q. 05/08/01 19.00 Meals Carlson, Q. 05/08/01 14.00 Ground Transportation Carlson, Q. 05/08/01 13.00 Meals Nachimson, M. 05/08/01 241.37 Lodging Nachimson, M. 05/08/01 8.00 Ground Transportation Nachimson, M. 05/08/01 10.00 Ground Transportation Nachimson, M. 05/08/01 3.00 Meals Thomas, J. 05/08/01 15.00 Ground Transportation Ainsworth, J. 05/09/01 39.00 Ground Transportation Ainsworth, J. 05/09/01 20.60 Ground Transportation Carlson, Q. 05/09/01 12.00 Ground Transportation Carlson, Q. 05/09/01 11.00 Meals Nachimson, M. 05/09/01 173.75 Air Nachimson, M. 05/09/01 229.96 Lodging Nachimson, M. 05/09/01 15.00 Ground Transportation

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002

[Professional IDate Amt Expense Type Nachimson, M. 05/09/01 38.00 Ground Transportation Nachimson, M. 05/09/01 3.00 Meals Nachimson, M. 05/09/01 10.00 Ground Transportation Thomas, J. 05/09/01 15.00 Ground Transportation Ainsworth, J. 05/10/01 59.60 Ground Transportation Carlson, Q. 05/10/01 418.00 Air Carlson, Q. 05/10/01 13.00 Ground Transportation Carlson, Q. 05/10/01 11.00 Meals Carlson, Q. 05/10/01 22.00 Meals Nachimson, M. 05/10/01 176.75 Air Nachimson, M. 05/10/01 38.00 Ground Transportation Nachimson, M. 05/10/01 6.00 Ground Transportation Nachimson, M. 05/10/01 34.68 Meals Ainsworth, J. 05/11/01 59.60 Ground Transportation Carlson, Q. 05/11/01 6.00 Ground Transportation Carlson, Q. 05/11/01 21.00 Meals Carlson, Q. 05/11/01 24.50 Ground Transportation Carlson, Q. 05/11/01 14.00 Meals Carlson, Q. 05/11/01 23.50 Ground Transportation Nachimson, M. 05/11/01 173.75 Air Nachimson, M. 05/11/01 298.32 Lodging Nachimson, M. 05/11/01 10.00 Ground Transportation Nachimson, M. 05/11/01 40.00 Ground Transportation Nachimson, M. 05/11/01 3.00 Meals Nachimson, M. 05/11/01 15.00 Ground Transportation Carlson, Q. 05/13/01 23.00 Ground Transportation Carlson, Q. 05/13/01 24.00 Ground Transportation Carlson, Q. 05/14/01 9.00 Ground Transportation Carlson, Q. 05/14/01 12.00 Meals Carlson, Q. 05/14/01 18.00 Meals Nachimson, M. 05/14/01 298.32 Lodging Nachimson, M. 05/14/01 156.75 Air Nachimson, M. 05/14/01 59.85 Meals Nachimson, M. 05/14/01 38.00 Ground Transportation Carlson, Q. 05/15/01 11.00 Ground Transportation Carlson, Q. 05/15/01 22.50 Meals Carlson, Q. 05/15/01 9.00 Meals Nachimson, M. 05/15/01 173.75 Air

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional jDate Amt Expense Type -i Nachimson, M. 05/15/01 15.00 Ground Transportation Nachimson, M. 05/15/01 2.00 Meals Nachimson, M. 05/15/01 10.00 Ground Transportation Nachimson, M. 05/15/01 38.00 Ground Transportation Carlson, Q. 05/16/01 11.00 Ground Transportation Carlson, Q. 05/16/01 23.00 Ground Transportation Carlson, Q. 05/16/01 11.00 Meals Carlson, Q. 05/17/01 11.00 Ground Transportation Carlson, Q. 05/17/01 23.00 Meals Carlson, Q. 05/18/01 1,299.19 Lodging Carlson, Q. 05/18/01 23.00 Meals Carlson, Q. 05/18/01 13.00 Ground Transportation Carlson, Q. 05/20/01 22.00 Ground Transportation Carlson, Q. 05/20/01 24.00 Meals Carlson, Q. 05/21/01 13.00 Ground Transportation Nachimson, M. 05/21/01 156.75 Air Nachimson, M. 05/21/01 182.75 Air Nachimson, M. 05/21/01 15.00 Ground Transportation Nachimson, M. 05/21/01 10.00 Other Nachimson, M. 05/21/01 40.00 Ground Transportation Thomas, J. 05/21/01 15.00 Ground Transportation Thomas, J. 05/22/01 15.00 Ground Transportation Nachimson, M. 05/23/01 298.32 Lodging Nachimson, M. 05/23/01 350.50 Air Nachimson, M. 05/23/01 5.00 Other Nachimson, M. 05/23/01 8.00 Ground Transportation Nachimson, M. 05/23/01 40.00 Ground Transportation Nachimson, M. 05/23/01 40.00 Ground Transportation Nachimson, M. 05/23/01 34.80 Meals Thomas, J. 05/23/01 15.00 Ground Transportation Nachimson, M. 05/24/01 15.00 Ground Transportation Nachimson, M. 05/24/01 10.00 Ground Transportation Nachimson, M. 05/24/01 5.00 Other Nachimson, M. 05/24/01 40.00 Ground Transportation Carlson, Q. 05/25/01 1,481.99 Air Carlson, Q. 05/25/01 1,137.46 Lodging Carlson, Q. 05/25/01 50.00 Air Carlson, Q. 05/25/01 46.00 Meals

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional [Date Amt Expense Type I Carlson, Q. 05/25/01 31.00 Ground Transportation Carlson, Q. 05/25/01 38.00 Ground Transportation Carlson, Q. 05/25/01 74.25 Meals Carlson, Q. 05/25/01 50.00 Air Carlson, Q. 05/27/01 38.00 Ground Transportation Carlson, Q. 05/27/01 34.00 Ground Transportation Carlson, Q. 05/28/01 20.00 Meals Carlson, Q. 05/28/01 10.00 Meals Carlson, Q. 05/29/01 10.00 Meals Carlson, Q. 05/29/01 17.00 Meals Carlson, Q. 05/30/01 21.00 Meals Carlson, Q. 05/30/01 10.00 Meals Nachimson, M. 05/30/01 176.75 Air Nachimson, M. 05/30/01 231.12 Lodging Nachimson, M. 05/30/01 8.00 Ground Transportation Nachimson, M. 05/30/01 33.75 Meals Nachimson, M. 05/30/01 40.00 Ground Transportation Nachimson, M. 05/30/01 5.00 Other Carlson, Q. 05/31/01 20.00 Meals Carlson, Q. 05/31/01 10.00 Meals Nachimson, M. 05/31/01 173.75 Air Nachimson, M. 05/31/01 10.00 Ground Transportation Nachimson, M. 05/31/01 40.00 Ground Transportation Nachimson, M. 05/31/01 15.00 Ground Transportation Carlson, Q. 06/01/01 1,102.00 Lodging Carlson, Q. 06/01/01 348.00 Air Carlson, Q. 06/01/01 34.50 Ground Transportation Carlson, Q. 06/01/01 35.50 Ground Transportation Carlson, Q. 06/01/01 10.00 Meals Carlson, Q. 06/01/01 22.00 Meals Carlson, Q. 06/02/01 19.00 Meals Carlson, Q. 06/03/01 35.50 Ground Transportation Carlson, Q. 06/03/01 36.50 Ground Transportation Carlson, Q. 06/04/01 10.00 Meals Carlson, Q. 06/04/0 1 12.00 Meals Carlson, Q. 06/05/01 10.00 Meals Carlson, Q. 06/05/01 18.00 Meals Nachimson, M. 06/05/01 176.75 Air

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional [Date Amt I Expense Type -i Nachimson, M. 06/05/01 55.00 Ground Transportation Nachimson, M. 06/05/01 33.20 Meals Carlson, Q. 06/06/01 19.00 Meals Carlson, Q. 06/06/01 10.00 Meals Frazier, D. 06/06/01 347.50 Air Frazier, D. 06/06/01 110.00 Meals Frazier, D. 06/06/01 12.00 Meals 06/06/01 5.00 Meals Frazier, D.

06/06/01 9.00 Ground Transportation Frazier, D.

Frazier, D. 06/06/01 40.00 Ground Transportation 06/06/01 28.33 Meals Nachimson, M.

Nachimson, M. 06/06/01 3.00 Meals Nachimson, M. 06/06/01 18.00 Ground Transportation 06/07/01 10.00 Meals Carlson, Q.

06/07/01 19.00 Meals Carlson, Q.

06/07/01 240.62 Lodging Frazier, D.

06/07/01 46.00 Other Frazier, D.

06/07/01 18.00 Ground Transportation Nachimson, M.

Nachimson, M. 06/07/01 3.00 Meals 06/07/01 32.00 Meals Nachimson, M.

06/08/01 455.00 Lodging Carlson, Q.

06/08/01 12.00 Meals Carlson, Q.

06/08/01 36.50 Ground Transportation Carlson, Q.

Carlson, Q. 06/08/01 37.50 Ground Transportation 06/08/01 10.00 Meals Carlson, Q.

06/08/01 193.75 Air Nachimson, M.

06/08/01 874.26 Lodging Nachimson, M.

06/08/01 60.00 Ground Transportation Nachimson, M.

06/08/01 3.00 Meals Nachimson, M.

Carlson, Q. 06/10/01 36.00 Ground Transportation Carlson, Q. 06/10/01 37.00 Ground Transportation 06/10/01 231.12 Lodging Nachimson, M.

06/10/01 390.50 Air Nachimson, M.

06/10/01 47.00 Ground Transportation Nachimson, M.

06/11/01 23.00 Meals Carlson, Q.

06/11/01 10.00 Meals Carlson, Q.

06/11/01 70.00 Ground Transportation Nachimson, M.

06/11/01 3.00 Meals Nachimson, M.

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 lProfessional IDate Amt I Expense Type Carlson, Q. 06/12/01 10.00 Meals Carlson, Q. 06/12/01 24.00 Meals Frazier, D. 06/12/01 326.50 Air Frazier, D. 06/12/01 6.00 Meals Frazier, D. 06/12/01 42.85 Meals Frazier, D. 06/12/01 40.00 Ground Transportation Nachimson, M. 06/12/01 196.75 Air Nachimson, M. 06/12/01 252.69 Lodging Nachimson, M. 06/12/01 35.90 Meals Nachimson, M. 06/12/01 55.00 Ground Transportation Carlson, Q. 06/13/01 22.00 Meals Carlson, Q. 06/13/01 10.00 Meals Frazier, D. 06/13/01 23.25 Meals Frazier, D. 06/13/01 4.00 Meals Nachimson, M. 06/13/01 31.78 Meals Nachimson, M. 06/13/01 3.00 Meals Carlson, Q. 06/14/01 21.00 Meals Carlson, Q. 06/14/01 10.00 Meals Frazier, D. 06/14/01 41.51 Meals Frazier, D. 06/14/01 8.00 Meals Frazier, D. 06/14/01 42.00 Ground Transportation Carlson, Q. 06/15/01 510.00 Air Carlson, Q. 06/15/01 1,504.00 Lodging Carlson, Q. 06/15/01 35.00 Ground Transportation Carlson, Q. 06/15/01 36.00 Ground Transportation Carlson, Q. 06/15/01 18.00 Meals Frazier, D. 06/15/01 77.56 Meals Frazier, D. 06/15/01 785.89 Lodging Frazier, D. 06/15/01 90.00 Ground Transportation Frazier, D. 06/15/01 40.00 Ground Transportation Frazier, D. 06/15/01 3.00 Meals Nachimson, M. 06/15/01 286.91 Lodging Nachimson, M. 06/15/01 193.75 Air Nachimson, M. 06/15/01 3.00 Meals Nachimson, M. 06/15/01 65.00 Ground Transportation Thomas, J. 06/16/01 9.00 Other Carlson, Q. 06/17/01 36.00 Ground Transportation Carlson, Q. 06/17/01 34.00 Ground Transportation

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6,2001 through March 31, 2002 i

Expense Type

[Professional jDate I~~ Amt 275.61 Lodging Nachimson, M. 06/17/01 Nachimson, M. 06/17/01 196.75 Air Nachimson, M. 06/17/01 275.61 Lodging Nachimson, M. 06/17/01 40.00 Ground Transportation Nachimson, M. 06/17/01 40.00 Ground Transportation Nachimson, M. 06/17/01 40.00 Ground Transportation Carlson, Q. 06/18/01 19.00 Meals Frazier, D. 06/18/01 326.50 Air Frazier, D. 06/18/01 26.03 Meals Frazier, D. 06/18/01 40.00 Ground Transportation Frazier, D. .06/18/01 22.00 Ground Transportation Nachimson, M. 06/18/01 187.75 Air Nachimson, M. 06/18/01 40.00 Ground Transportation Nachimson, M. 06/18/01 42.00 Ground Transportation Nachimson, M. 06/18/01 3.00 Meals Nachimson, M. 06/18/01 44.00 Ground Transportation Nachimson, M. 06/18/01 5.00 Ground Transportation Nachimson, M. 06/18/01 41.00 Ground Transportation Nachimson, M. 06/18/01 44.00 Ground Transportation Nachimson, M. 06/18/01 5.00 Other Nachimson, M. 06/18/01 38.00 Ground Transportation Nachimson, M. 06/18/01 10.00 Ground Transportation Nachimson, M. 06/18/01 3.00 Meals Nachimson, M. 06/18/01 40.00 Ground Transportation Nachimson, M. 06/18/01 7.00 Other Nachimson, M. 06/18/01 3.00 Meals Thomas, J. 06/18/01 15.00 Ground Transportation Carlson, Q. 06/19/01 10.00 Meals Carlson, Q. 06/19/01 21.00 Meals Frazier, D. 06/19/01 23.02 Meals Thomas, J. 06/19/01 15.00 Ground Transportation Carlson, Q. 06/20/01 10.00 Meals Carlson, Q. 06/20/01 19.00 Meals Frazier, D. 06/20/01 173.50 Air Frazier, D. 06/20/01 166.50 Air Frazier, D. 06/20/01 230.50 Air Frazier, D. 06/20/01 233.00 Air Frazier, D. 06/20/01 55.50 Air

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional Date I Amt I Expense Type Frazier, D. 06/20/01 20.25 Meals Nachimson, M. 06/20/01 350.50 Air Nachimson, M. 06/20/01 50.00 Ground Transportation Nachimson, M. 06/20/01 12.00 Ground Transportation Nachimson, M. 06/20/01 24.02 Meals Nachimson, M. 06/20/01 5.00 Ground Transportation Nachimson, M. 06/20/01 38.00 Ground Transportation Nachimson, M. 06/20/01 5.00 Other Nachimson, M. 06/20/01 5.00 Other Nachimson, M. 06/20/01 50.00 Ground Transportation Thomas, J. 06/20/01 15.00 Ground Transportation Carlson, Q. 06/21/01 100.00 Air Carlson, Q. 06/21/01 1,326.00 Lodging Carlson, Q. 06/21/01 10.00 Meals Carlson, Q. 06/21/01 20.00 Meals Frazier, D. 06/21/01 24.00 Meals Nachimson, M. 06/21/01 551.22 Lodging Nachimson, M. 06/21/01 551.22 Lodging Nachimson, M. 06/21/01 3.00 Meals Nachimson, M. 06/21/01 22.00 Ground Transportation Nachimson, M. 06/21/01 3.00 Meals Nachimson, M. 06/21/01 22.00 Ground Transportation Thomas, J. 06/21/01 15.00 Ground Transportation Carlson, Q. 06/22/01 6.00 Meals Carlson, Q. 06/22/01 10.00 Meals Carlson, Q. 06/22/01 34.50 Ground Transportation Carlson, Q. 06/22/01 33.50 Ground Transportation Frazier, D. 06/22/01 1,046.52 Lodging Frazier, D. 06/22/01 22.00 Meals Frazier, D. 06/22/01 40.00 Ground Transportation Frazier, D. 06/22/01 56.00 Ground Transportation Frazier, D. 06/22/01 24.00 Ground Transportation Nachimson, M. 06/22/01 65.00 Ground Transportation Nachimson, M. 06/22/01 5.00 Other Nachimson, M. 06/22/01 65.00 Ground Transportation Nachimson, M. 06/22/01 3.00 Meals Nachimson, M. 06/22/01 3.00 Meals Carlson, Q. 06/24/01 38.00 Ground Transportation

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 SProfessional Date I Amtn I Expense Type Carlson, Q. 06/24/01 Amt 34.00 Ground Transportation Carlson, Q. 06/25/01 10.00 Meals Carlson, Q. 06/26/01 19.00 Meals Carlson, Q. 06/26/01 10.00 Meals Carlson, Q. 06/27/01 10.00 Meals Carlson, Q. 06/27/01 18.00 Meals Frazier, D. 06/27/01 48.38 Meals Frazier, D. 06/27/01 40.00 Ground Transportation Frazier, D. 06/27/01 7.00 Meals Nachimson, M. 06/27/01 196.75 Air Nachimson, M. 06/27/01 275.50 Lodging Nachimson, M. 06/27/01 275.50 Lodging Nachimson, M. 06/27/01 8.00 Other Nachimson, M. 06/27/01 56.00 Ground Transportation Nachimson, M. 06/27/01 35.83 Meals Nachimson, M. 06/27/01 8.00 Other Nachimson, M. 06/27/01 56.00 Ground Transportation Thomas, J. 06/27/01 15.00 Ground Transportation Carlson, Q. 06/28/01 10.00 Meals Carlson, Q. 06/28/01 23.00 Meals Frazier, D. 06/28/01 14.00 Meals Frazier, D. 06/28/01 5.00 Meals Nachimson, M. 06/28/01 215.69 Lodging Nachimson, M. 06/28/01 215.69 Lodging Nachimson, M. 06/28/01 3.00 Meals Nachimson, M. 06/28/01 26.00 Ground Transportation Nachimson, M. 06/28/01 27.18 Meals Nachimson, M. 06/28/01 3.00 Ground Transportation Nachimson, M. 06/28/01 26.00 Ground Transportation Thomas, J. 06/28/01 15.00 Ground Transportation Carlson, Q. 06/29/01 358.01 Air Carlson, Q. 06/29/01 357.99 Air Carlson, Q. 06/29/01 100.00 Air Carlson, Q. 06/29/01 938.00 Lodging Carlson, Q. 06/29/01 158.00 Meals Carlson, Q. 06/29/01 35.00 Ground Transportation Carlson, Q. 06/29/01 36.00 Ground Transportation Carlson, Q. 06/29/01 10.00 Meals

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional IDate I Amt Expense Type I

Frazier, D. 06/29/01 551.22 Lodging Frazier, D. 06/29/01 21.00 Ground Transportation Frazier, D. 06/29/01 40.00 Ground Transportation Frazier, D. 06/29/01 23.00 Meals Frazier, D. 06/29/01 26.59 Meals Frazier, D. 06/29/01 5.00 Other Nachimson, M. 06/29/01 193.75 Air Nachimson, M. 06/29/01 3.00 Ground Transportation Nachimson, M. 06/29/01 5.00 Other Nachimson, M. 06/29/01 65.00 Ground Transportation Nachimson, M. 06/29/01 3.00 Meals Nachimson, M. 06/29/01 5.00 Other Nachimson, M. 06/29/01 65.00 Ground Transportation Thomas, J. 06/29/01 15.00 Ground Transportation Thomas, J. 07/02/01 15.00 Ground Transportation Frazier, D. 07/03/01 24.00 Other Frazier, D. 07/03/01 5.00 Meals Frazier, D. 07/03/01 40.00 Ground Transportation Frazier, D. 07/03/01 40.00 Ground Transportation Frazier, D. 07/03/01 18.50 Meals Frazier, D. 07/05/01 278.46 Lodging Frazier, D. 07/05/01 6.00 Meals Frazier, D. 07/05/01 64.00 Meals Frazier, D. 07/05/01 40.00 Ground Transportation Nachimson, M. 07/05/01 390.50 Air Nachimson, M. 07/05/01 39.00 Ground Transportation Nachimson, M. 07/05/01 21.00 Ground Transportation Nachimson, M. 07/05/01 39.00 Ground Transportation Thomas, J. 07/05/01 15.00 Ground Transportation Frazier, D. 07/06/01 6.00 Meals Frazier, D. 07/06/01 46.00 Other Frazier, D. 07/06/01 70.00 Other Frazier, D. 07/06/01 14.00 Ground Transportation Frazier, D. 07/06/01 18.97 Meals Frazier, D. 07/06/01 38.00 Ground Transportation Carlson, Q. 07/08/01 35.00 Ground Transportation Carlson, Q. 07/08/01 37.00 Ground Transportation Carlson, Q. 07/09/01 10.00 Meals

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional Date Amt I Expense Type Carlson, Q. 07/09/01 24.00 Meals Frazier, D. 07/09/01 6.00 Meals Frazier, D. 07/09/01 40.00 Ground Transportation Frazier, D. 07/09/01 23.00 Ground Transportation Frazier, D. 07/09/01 26.08 Meals Peko, J. 07/09/01 258.78 Lodging Peko, J. 07/09/01 79.01 Meals Peko, J. 07/09/01 39.00 Ground Transportation Peko, J. 07/09/01 5.00 Other Thomas, J. 07/09/01 15.00 Ground Transportation Carlson, Q. 07/10/01 10.00 Meals Carlson, Q. 07/10/01 12.00 Meals Frazier, D. 07/10/01 124.25 Meals Frazier, D. 07/10/01 5.00 Meals Nachimson, M. 07/10/01 34.05 Meals Nachimson, M. 07/10/01 52.00 Ground Transportation Peko, J. 07/10/01 258.78 Lodging Peko, J. 07/10/01 20.95 Meals Peko, J. 07/10/01 36.58 Meals Peko, J. 07/10/01 8.93 Meals Thomas, J. 07/10/01 15.00 Ground Transportation Carlson, Q. 07/11/01 10.00 Meals Carlson, Q. 07/11/01 16.00 Meals Frazier, D. 07/11/01 4.00 Meals Frazier, D. 07/11/01 5.00 Meals Nachimson, M. 07/11/01 183.51 Meals Nachimson, M. 07/11/01 556.92 Lodging Nachimson, M. 07/11/01 3.00 Meals Nachimson, M. 07/11/01 8.00 Ground Transportation Peko, J. 07/11/01 258.78 Lodging Peko, J. 07/11/01 20.95 Meals Thomas, J. 07/11/01 15.00 Ground Transportation Carlson, Q. 07/12/01 10.00 Meals Carlson, Q. 07/12/01 21.00 Meals Frazier, D. 07/12/01 330.50 Air Frazier, D. 07/12/01 18.53 Meals Frazier, D. 07/12/01 5.00 Meals Frazier, D. 07/12/01 19.00 Meals

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional SDate I Amt T Expense Type Nachimson, M. 07/12/01 3.00 Meals 07/12/01 61.00 Ground Transportation Nachimson, M.

07/12/01 258.78 Lodging Peko, J.

07/12/01 8.93 Meals Peko, J.

07/12/01 20.95 Meals Peko, J.

07/12/01 56.17 Meals Peko, J.

07/12/01 15.00 Ground Transportation Thomas, J.

07/13/01 1,449.00 Lodging Carlson, Q.

07/13/01 14.00 Meals Carlson, Q.

07/13/01 34.00 Ground Transportation Carlson, Q.

07/13/01 38.00 Ground Transportation Carlson, Q.

07/13/01 10.00 Meals Carlson, Q.

07/13/01 92.69 Other Frazier, D.

07/13/01 1,055.12 Lodging Frazier, D.

07/13/01 22.00 Ground Transportation Frazier, D.

07/13/01 5.00 Meals Frazier, D.

07/13/01 49.00 Ground Transportation Frazier, D.

07/13/01 40.00 Ground Transportation Frazier, D.

07/13/01 5.00 Other Frazier, D.

07/13/01 2,458.25 Air Peko, J.

07/13/01 5.00 Other Peko, J.

07/13/01 22.43 Ground Transportation Peko, J.

07/13/01 46.00 Ground Transportation Peko, J.

07/13/01 20.95 Meals Peko, J.

07/13/01 15.00 Ground Transportation Thomas, J.

07/14/01 55.00 Other Peko, J.

07/15/01 34.00 Ground Transportation Carlson, Q.

07/15/01 36.00 Ground Transportation Carlson, Q.

07/16/01 1.00 Meals Carlson, Q.

07/16/01 10.00 Meals Carlson, Q.

07/16/01 12.00 Meals Carlson, Q.

07/16/01 342.50 Air Frazier, D.

07/16/01 10.50 Meals Frazier, D.

07/16/01 23,00 Ground Transportation Frazier, D.

07/16/01 40.58 Meals Frazier, D.

07/16/01 40.00 Ground Transportation Frazier, D.

07/16/01 258.78 Lodging Peko, J.

07/16/01 43.24 Meals Peko, J.

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002

[Professional Date I Amt I Expense Type Peko, J. 07/16/01 40.00 Ground Transportation Carlson, Q. 07/17/0 1 1.00 Meals Carlson, Q. 07/17/01 10.00 Meals Carlson, Q. 07/17/01 15.00 Meals Frazier, D. 07/17/01 14.45 Meals Nachimson, M. 07/17/01 247.16 Lodging Peko, J. 07/17/01 258.78 Lodging Peko, J. 07/17/01 21.15 Meals Peko, J. 07/17/01 37.98 Meals Thomas, J. 07/17/01 15.00 Ground Transportation Carlson, Q. 07/18/01 438.26 Meals Carlson, Q. 07/18/01 10.00 Meals Carlson, Q. 07/18/01 36.20 Meals Frazier, D. 07/18/01 22.55 Meals Frazier, D. 07/18/01 40.00 Meals Nachimson, M. 07/18/01 289.41 Meals Nachimson, M. 07/18/01 39.60 Meals Nachimson, M. 07/18/01 49.00 Ground Transportation Peko, J. 07/18/01 258.78 Lodging Peko, J. 07/18/01 40.10 Meals Thomas, J. 07/18/01 15.00 Ground Transportation Carlson, Q. 07/19/01 12.00 Meals Carlson, Q. 07/19/01 10.00 Meals Frazier, D. 07/19/01 23.78 Meals Frazier, D. 07/19/01 12.28 Meals Nachimson, M. 07/19/01 196.75 Air Nachimson, M. 07/19/01 49.00 Ground Transportation Nachimson, M. 07/19/01 49.00 Ground Transportation Peko, J. 07/19/01 76.92 Meals Peko, J. 07/19/01 5.00 Other Peko, J. 07/19/01 21.15 Meals Thomas, J. 07/19/01 15.00 Ground Transportation Carlson, Q. 07/20/01 12.00 Meals Carlson, Q. 07/20/01 37.00 Ground Transportation Carlson, Q. 07/20/01 35.00 Ground Transportation Frazier, D. 07/20/01 1,055.12 Lodging Frazier, D. 07/20/01 23.72 Meals Frazier, D. 07/20/01 56.00 Ground Transportation

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional IDate I Amt Expense Type Atnt Frazier, D. 07/20/01 I 15.00 Other Frazier, D. 07/20/01 26.00 Ground Transportation Frazier, D. 07/20/01 48.00 Ground Transportation Peko, J. 07/20/01 2,449.50 Air Peko, J. 07/20/01 44.00 Ground Transportation Peko, J. 07/20/0 1 22.43 Other Thomas, J. 07/20/01 15.00 Ground Transportation Carlson, Q. 07/22/01 35.00 Ground Transportation Carlson, Q. 07/22/01 38.00 Ground Transportation Carlson, Q. 07/23/01 1,313.90 Lodging Carlson, Q. 07/23/01 11.00 Meals Carlson, Q. 07/23/01 17.00 Meals Nachimson, M. 07/23/01 164.75 Air Nachimson, M. 07/23/01 49.00 Ground Transportation Nachimson, M. 07/23/01 30.42 Meals Peko, J. 07/23/01 258.78 Lodging Peko, J. 07/23/01 2,806.50 Air Peko, J. 07/23/01 40.00 Ground Transportation Peko, J. 07/23/01 40.00 Ground Transportation Peko, J. 07/23/01 34.77 Meals Thomas, J. 07/23/01 15.00 Ground Transportation Carlson, Q. 07/24/01 20.00 Meals Carlson, Q. 07/24/01 11.00 Meals Nachimson, M. 07/24/01 173.75 Air Nachimson, M. 07/24/0 1 295.47 Lodging Nachimson, M. 07/24/01 52.00 Ground Transportation Nachimson, M. 07/24/01 3.00 Meals Peko, J. 07/24/01 258.78 Lodging Peko, J. 07/24/01 21.15 Meals Peko, J. 07/24/0 1 33.58 Meals Thomas, J. 07/24/01 15.00 Ground Transportation Carlson, Q. 07/25/01 10.00 Meals Carlson, Q. 07/25/01 21.00 Meals Nachimson, M. 07/25/01 350.50 Air Nachimson, M. 07/25/01 298.32 Lodging Nachimson, M. 07/25/01 49.00 Ground Transportation Peko, J. 07/25/01 258.78 Lodging Peko, J. 07/25/01 21.15 Meals

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional jDate Amt Expense Type I 07/26/01 685.01 Air Carlson, Q.

07/26/01 684.99 Air Carlson, Q.

07/26/01 370.00 Air Carlson, Q.

07/26/01 12.00 Meals Carlson, Q.

07/26/01 17.00 Meals Carlson, Q.

07/26/01 128.32 Other Frazier, D.

07/26/01 52.00 Ground Transportation Nachimson, M.

07/26/01 99.11 Meals Peko, J.

07/26/01 21.15 Meals Peko, J.

07/26/01 22.77 Ground Transportation Peko, J.

07/26/01 46.00 Ground Transportation Peko, J.

07/27/01 12.00 Meals Carlson, Q.

07/27/01 38.00 Ground Transportation Carlson, Q.

07/27/01 34.00 Ground Transportation Carlson, Q.

07/27/01 23.00 Meals Carlson, Q.

Peko, J. 07/27/01 44.00 Ground Transportation 07/27/01 15.00 Ground Transportation Thomas, J.

07/29/01 37.00 Ground Transportation Carlson, Q.

07/29/01 38.00 Ground Transportation Carlson, Q.

07/30/01 11.00 Meals Carlson, Q.

07/30/01 47.00 Meals Carlson, Q.

07/30/01 22.00 Meals Carlson, Q.

07/30/01 35.90 Meals Nachimson, M.

07/30/01 38.00 Ground Transportation Nachimson, M.

07/30/01 258.78 Lodging Peko, J.

07/30/01 2,806.50 Air Peko, J.

07/30/01 53.00 Ground Transportation Peko, J.

07/30/01 15.00 Ground Transportation Thomas, J.

07/31/01 12.00 Meals Carlson, Q.

07/31/01 19.00 Meals Carlson, Q.

07/31/01 252.69 Lodging Nachimson, M.

07/31/01 173.75 Air Nachimson, M.

07/31/01 40.00 Ground Transportation Nachimson, M.

07/31/01 258.78 Lodging Peko, J.

07/31/01 21.15 Meals Peko, J.

07/31/01 32.52 Meals Peko, J.

08/01/01 258.00 Meals Carlson, Q.

08/01/01 13.00 Meals Carlson, Q.

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002

]Professional jDate Amt I Expense Type I Carlson, Q. 08/01/01 12.00 Meals Peko, J. 08/01/01 258.78 Lodging Peko, J. 08/01/01 21.15 Meals Thomas, J. 08/01/01 15.00 Ground Transportation Carlson, Q. 08/02/01 12.00 Meals Carlson, Q. 08/02/01 13,00 Meals Peko, J. 08/02/01 52.22 Meals Peko, J. 08/02/01 22.77 Ground Transportation Peko, J. 08/02/01 21.15 Meals Peko, J. 08/02/01 47.00 Ground Transportation Carlson, Q. 08/03/01 1,695.80 Lodging Carlson, Q. 08/03/01 1,489.11 Lodging Carlson, Q. 08/03/01 13.00 Meals Carlson, Q. 08/03/01 42.50 Ground Transportation Carlson, Q. 08/03/01 41.50 Ground Transportation Peko, J. 08/03/01 44.00 Ground Transportation Carlson, Q. 08/05/01 39.00 Ground Transportation Carlson, Q. 08/05/01 36.00 Ground Transportation Carlson, Q. 08/06/01 14.00 Meals Carlson, Q. 08/06/01 54.40 Meals Peko, J. 08/06/01 92.75 Meals Peko, J. 08/06/01 258.78 Lodging Peko, J. 08/06/01 53.00 Ground Transportation Carlson, Q. 08/07/01 12.00 Meals Carlson, Q. 08/07/01 46.67 Meals Peko, J. 08/07/01 258.78 Lodging Peko, J. 08/07/01 89.05 Meals Peko, J. 08/07/01 7.00 Ground Transportation Peko, J. 08/07/01 21.15 Meals Carlson, Q. 08/08/01 77.12 Meals Carlson, Q. 08/08/01 13.00 Meals Nachimson, M. 08/08/01 176.75 Air Nachimson, M. 08/08/01 252.69 Lodging Nachimson, M. 08/08/01 8.00 Ground Transportation Nachimson, M. 08/08/01 24.00 Meals Nachimson, M. 08/08/01 38.00 Ground Transportation Peko, J. 08/08/01 82.99 Meals Peko, J. 08/08/01 258.78 Lodging

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 jProfessional Date Amt Expense Type Peko, J. 08/08/01 21.15 Meals Carlson, Q. 08/09/01 31.90 Meals Nachimson, M. 08/09/01 173.75 Air Nachimson, M. 08/09/01 10.00 Ground Transportation Nachimson, M. 08/09/01 3.00 Meals Nachimson, M. 08/09/01 40.00 Ground Transportation Peko, J. 08/09/01 2,806.50 Air Peko, J. 08/09/01 32.25 Meals Peko, J. 08/09/01 6.00 Other Peko, J. 08/09/01 44.00 Ground Transportation Peko, J. 08/09/01 47.00 Ground Transportation Carlson, Q. 08/10/01 1,406.50 Lodging Carlson, Q. 08/10/01 2,637.00 Air Carlson, Q. 08/10/01 39.00 Ground Transportation Carlson, Q. 08/10/01 50.86 Meals Carlson, Q. 08/10/01 38.00 Ground Transportation Carlson, Q. 08/10/01 8.00 Meals Carlson, Q. 08/12/01 39.00 Ground Transportation Carlson, Q. 08/12/01 37.00 Ground Transportation Carlson, Q. 08/13/01 18.00 Other Carlson, Q. 08/13/01 12.00 Meals Carlson, Q. 08/13/01 17.00 Meals Nachimson, M. 08/13/01 275.50 Lodging Nachimson, M. 08/13/01 34.75 Meals Peko, J. 08/13/01 258.78 Lodging Peko, J. 08/13/01 2,806.50 Air Peko, J. 08/13/01 53.00 Ground Transportation Carlson, Q. 08/14/01 18.00 Meals Carlson, Q. 08/14/01 4.00 Meals Nachimson, M. 08/14/0 1 173.75 Air Nachimson, M. 08/14/01 3.00 Meals Nachimson, M. 08/14/01 9.00 Ground Transportation Nachimson, M. 08/14/01 20.50 Ground Transportation Nachimson, M. 08/14/01 40.00 Ground Transportation Peko, J. 08/14/01 258.78 Lodging Peko, J. 08/14/01 25.11 Meals Peko, J. 08/14/01 21.15 Meals Carlson, Q. 08/15/01 18.00 Other

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002

[Professional jDate Amt I Expense Type Carlson, Q. 08/15/01 11.00 Meals Carlson, Q. 08/15/01 72.24 Meals Nachimson, M. 08/15/01 258.78 Lodging Nachimson, M. 08/15/01 350.50 Air Nachimson, M. 08/15/01 10.00 Ground Transportation Nachimson, M. 08/15/01 33.66 Meals Nachimson, M. 08/15/01 38.00 Ground Transportation Peko, J. 08/15/01 149.19 Meals Peko, J. 08/15/01 258.78 Lodging Peko, J. 08/15/01 8.00 Ground Transportation Peko, J. 08/15/01 21.15 Meals Carlson, Q. 08/16/01 392.50 Air Carlson, Q. 08/16/01 76.74 Meals Carlson, Q. 08/16/01 13.00 Meals Nachimson, M. 08/16/01 3.00 Meals Nachimson, M. 08/16/01 41.00 Ground Transportation Nachimson, M. 08/16/01 40.00 Ground Transportation Peko, J. 08/16/01 22.77 Ground Transportation Peko, J. 08/16/01 46.00 Ground Transportation Peko, J. 08/16/01 21.15 Meals Peko, J. 08/16/01 25.11 Meals Carlson, Q. 08/17/01 228.00 Air Carlson, Q. 08/17/01 18.00 Other Carlson, Q. 08/17/01 11.00 Meals Carlson, Q. 08/17/01 40.00 Ground Transportation Carlson, Q. 08/17/01 38.00 Ground Transportation Carlson, Q. 08/17/01 8.00 Meals Peko, J. 08/17/01 120.47 Other Peko, J. 08/17/01 44.00 Ground Transportation Carlson, Q. 08/19/01 38.00 Ground Transportation Carlson, Q. 08/19/01 40.00 Ground Transportation Carlson, Q. 08/20/01 18.00 Other Carlson, Q. 08/20/01 12.00 Meals Carlson, Q. 08/20/01 22.00 Meals Peko, J. 08/20/01 2,806.50 Air Peko, J. 08/20/01 258.78 Lodging Peko, J. 08/20/01 22.67 Meals Peko, J. 08/20/01 49.00 Ground Transportation

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Expense Type Professional Date I- Amt 1,250.25 I

Carlson, Q. 08/21/01 Lodging 08/21/01 9.00 Meals Carlson, Q.

Peko, J. 08/21/01 258.78 Lodging Peko, J. 08/21/01 148.65 Meals Peko, J. 08/21/01 23.51 Meals Peko, J. 08/21/01 17.50 Ground Transportation Carlson, Q. 08/22/01 11.00 Meals Carlson, Q. 08/22/01 23.00 Meals 08/22/01 181.75 Air Nachimson, M.

08/22/01 178.75 Air Nachimson, M.

08/22/01 38.00 Ground Transportation Nachimson, M.

Nachimson, M. 08/22/01 38.00 Ground Transportation 08/22/01 21.00 Ground Transportation Nachimson, M.

08/22/01 258.78 Lodging Peko, J.

Peko, J. 08/22/01 49.14 Meals 08/23/01 12.00 Meals Carlson, Q.

08/23/01 21.00 Meals Carlson, Q.

Peko, J. 08/23/01 44.00 Ground Transportation 08/23/01 46.00 Ground Transportation Peko, J.

08/23/01 5.00 Other Peko, J.

08/23/01 22.77 Ground Transportation Peko, J.

08/23/01 23.51 Meals Peko, J.

08/24/01 1,174.41 Lodging Carlson, Q.

08/24/01 11.00 Meals Carlson, Q.

08/24/01 22.00 Meals Carlson, Q.

08/24/01 18.00 Other Carlson, Q.

08/24/01 360.50 Air Nachimson, M.

08/24/01 38.00 Ground Transportation Nachimson, M.

08/24/01 38.00 Ground Transportation Nachimson, M.

08/24/01 21.00 Ground Transportation Nachimson, M.

08/25/01 100.00 Air Carlson, Q.

08/25/01 72.00 Meals Carlson, Q.

08/26/01 8.00 Meals Carlson, Q.

08/27/01 5.00 Meals Carlson, Q.

08/27/01 258.78 Lodging Peko, J.

08/27/01 2,806.50 Air Peko, J.

08/27/01 63.88 Meals Peko, J.

08/27/01 43.00 Ground Transportation Peko, J.

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 jProfessional Date Amt I Expense Type Carlson, Q. 08/28/01 22.00 Meals Carlson, Q. 08/28/01 12.00 Meals Carlson, Q. 08/28/01 18.00 Other Peko, J. 08/28/01 258.78 Lodging Peko, J. 08/28/01 11.00 Meals Peko, J. 08/28/01 28.90 Meals Carlson, Q. 08/29/01 167.00 Meals Carlson, Q. 08/29/01 37.33 Meals Carlson, Q. 08/29/01 15.00 Meals Peko, J. 08/29/01 258.78 Lodging Peko, J. 08/29/01 59.25 Meals Peko, J. 08/29/01 17.25 Ground Transportation Carlson, Q. 08/30/01 18.00 Meals Carlson, Q. 08/30/01 13.00 Meals Peko, J. 08/30/01 8.50 Meals Peko, J. 08/30/01 7.00 Other Peko, J. 08/30/01 46.00 Ground Transportation Peko, J. 08/30/01 44.00 Ground Transportation Peko, J. 08/30/01 25.11 Meals Peko, J. 08/30/01 22.77 Ground Transportation Carlson, Q. 08/31/01 10.00 Meals Carlson, Q. 08/31/01 19.00 Meals Carlson, Q. 09/02/01 21.00 Meals Carlson, Q. 09/03/01 24.00 Meals Carlson, Q. 09/03/01 9.00 Meals Carlson, Q. 09/03/01 18.00 Other Carlson, Q. 09/04/01 22.00 Meals Carlson, Q. 09/04/01 10.00 Meals Peko, J. 09/04/01 310.08 Lodging Peko, J. 09/04/01 2,086.50 Air Peko, J. 09/04/01 44.00 Ground Transportation Carlson, Q. 09/05/01 24.00 Meals Carlson, Q. 09/05/01 3.00 Meals Carlson, Q. 09/05/01 18.00 Other Peko, J. 09/05/01 310.08 Lodging Peko, J. 09/05/01 77.39 Meals Peko, J. 09/05/01 16.50 Ground Transportation Carlson, Q. 09/06/01 13.00 Meals

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional [Date I Amit Expense Type Carlson, Q. 09/06/01 Amt 13.00 Meals Carlson, Q. 09/06/01 64.00 Meals Peko, J. 09/06/01 43.00 Ground Transportation Peko, J. 09/06/01 8.00 Other Peko, J. 09/06/01 51.84 Meals Peko, J. 09/06/01 22.77 Ground Transportation Peko, J. 09/06/01 33.00 Ground Transportation Carlson, Q. 09/07/01 491.50 Air Carlson, Q. 09/07/01 660.00 Air Carlson, Q. 09/07/01 38.00 Ground Transportation Carlson, Q. 09/07/01 11.00 Meals Carlson, Q. 09/07/01 40.00 Ground Transportation Carlson, Q. 09/09/01 3,403.56 Lodging Carlson, Q. 09/09/01 15.00 Meals Carlson, Q. 09/09/01 36.12 Meals Carlson, Q. 09/09/01 38.00 Ground Transportation Carlson, Q. 09/09/01 40.00 Ground Transportation Carlson, Q. 09/10/01 100.00 Air Carlson, Q. 09/10/01 11.00 Meals Carlson, Q. 09/10/01 18.00 Other Carlson, Q. 09/10/01 21.00 Meals Peko, J. 09/10/01 281.58 Lodging Peko, J. 09/10/01 1,044.75 Air Peko, J. 09/10/01 36.40 Meals Peko, J. 09/10/01 44.00 Ground Transportation Carlson, Q. 09/11/01 22.00 Meals Carlson, Q. 09/11/01 24.00 Meals Carlson, Q. 09/11/01 15.00 Other Peko, J. 09/11/01 281.58 Lodging Peko, J. 09/11/01 37.55 Meals Peko, J. 09/11/01 36.47 Meals Carlson, Q. 09/12/01 10.00 Meals Carlson, Q. 09/12/01 18.00 Other Peko, J. 09/12/01 281.58 Lodging Peko, J. 09/12/01 71.81 Meals Peko, J. 09/12/01 9.50 Meals Carlson, Q. 09/13/01 18.00 Meals Carlson, Q. 09/13/01 9.00 Meals

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6,2001 through March 31, 2002 1

Professional IDate Amt Expense Type I

Peko, J. 09/13/01 281.58 Lodging Peko, J. 09/13/01 13.50 Ground Transportation Carlson, Q. 09/14/01 10.00 Meals Peko, J. 09/14/01 89.14 Other Peko, J. 09/14/01 281.58 Lodging Peko, J. 09/14/01 57.02 Meals Peko, J. 09/14/01 22.25 Ground Transportation Peko, J. 09/14/01 12.75 Meals Carlson, Q. 09/15/01 12.00 Meals Carlson, Q. 09/15/01 12.00 Meals Peko, J. 09/15/01 1,147.50 Air Peko, J. 09/15/01 50.00 Ground Transportation Peko, J. 09/15/01 22.77 Ground Transportation Peko, J. 09/15/01 66.00 Ground Transportation Peko, J. 09/15/01 12.00 Other Peko, J. 09/15/01 23.56 Other Carlson, Q. 09/16/01 19.00 Meals Carlson, Q. 09/16/0 1 13.00 Meals Carlson, Q. 09/17/01 13.00 Meals Carlson, Q. 09/17/01 14.00 Meals Carlson, Q. 09/17/01 18.00 Other Carlson, Q. 09/1 8/0 1 40.00 Ground Transportation Carlson, Q. 09/18/01 38.00 Ground Transportation Carlson, Q. 09/18/01 36.12 Meals Carlson, Q. 09/18/0 1 12.00 Meals Carlson, Q. 09/21/01 2,768.28 Lodging Peko, J. 09/26/01 6.72 Other Peko, J. 09/26/01 27.71 Other Peko, J. 09/27/01 4.77 Other Peko, J. 09/27/01 4.77 Other Peko, J. 09/27/01 5.82 Other Peko, J. 09/27/01 4.77 Other Peko, J. 09/27/01 5.83 Other Peko, J. 09/27/01 5.83 Other Peko, J. 09/27/01 4.77 Other Peko, J. 09/27/01 4.77 Other Peko, J. 09/27/01 16.26 Other Peko, J. 09/27/01 5.83 Other

ERNST & YOUNG CORPORATE FINANCE LLC Expense Detail, April 6, 2001 through March 31, 2002 Professional Date I Amt I Expense Type Peko, J. 09/28/01 41.61 Other Peko, J. 10/15/01 35.16 Meals Peko, J. 10/15/01 46.00 Ground Transportation Peko, J. 10/16/01 298.68 Lodging Peko, J. 10/16/01 10.50 Meals Peko, J. 10/16/01 38.22 Meals Peko, J. 10/16/01 44.00 Ground Transportation Peko, J. 10/16/01 4.00 Other Peko, J. 10/17/01 2,091.00 Air Peko, J. 10/17/01 22.00 Ground Transportation Nachimson, M. 10/22/01 383.00 Air Nachimson, M. 10/22/0 1 38.00 Ground Transportation Nachimson, M. 10/22/01 37.00 Ground Transportation Nachimson, M. 10/22/01 21.00 Ground Transportation Total 130,993.80