ML030230196

FTI Consulting Inc.Cover Sheet Application for Allowance & Payment of Interim Compensation & Reimbursement of Expenses for November 1, 2002 to November 30, 2002

ML030230196
Person / Time
Site:	Diablo Canyon
Issue date:	12/30/2002
From:	Lumsden T FTI Consulting, Official Committee of Unsecured Creditors
To:	Office of Nuclear Reactor Regulation, US Federal Judiciary, Bankruptcy Court, Northern District of California
References
01-30923 DM, 94-0742640
Download: ML030230196 (45)

Text

1 Thomas Lumsden FTI Consulting Inc.,

F/LEf 2 199 Fremont Street DEC 3 0 2002 San Francisco, CA 94105 3 Telephone: (415) 498-5000 'VNITEO STATES BANKRUPTCy Facsimile: (415) 498-6699 IAN FRACI.SCO, CACOURT 4

Accountants and Financial Advisors for Official 5 Committee of Unsecured Creditors 6

7 8 UNITED STATES BANKRUPTCY COURT 9 NORTHERN DISTRICT OF CALIFORNIA 10 SAN FRANCISCO DIVISION 11 In re Case No. 0 1-30923 DM 12 PACIFIC GAS AND ElLECTRIC Chapter 11 Case COMPANY, a Califom fa corporation, 13 [No Hearing Scheduled]

De otor.

14 15 Federal 1D. No. 94-0742640 16 FTI CONSULTING INC. COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF 17 EXPENSES FOR NOVEMBER 1, 2002 TO NOVEMBER 30, 2002 18 FTI Consulting, (the "Firm"), submits its Cover Sheet Application (the "Application")

19 for Allowance and Payment of Interim Compensation and Reimbursement of Expenses for 20 the Period November 1, 2002 to November 30, 2002 (the "Application Period"). In support 21 of the Application, the Firm respectfully represents as follows:

22

1. The Firm serves as Accountants and Financial Advisors to the Official 23 Committee of Unsecured Creditors. The Firm submitted an Application for appointment as 24 Accountants and Financial Advisors to the Official Committee of Unsecured Creditors on 25 September 27, 2002. An Order for Appointment of the Firm as Accountants and Financial 26 Advisors to the Official Committee of Unsecured Creditors was entered on October 31, 27 2002, nuncpro tunc to September 1, 2002. The Firm hereby applies to the Court for 28 WD 07 1 701/1-1 4 199031421931767/vI m%~oc)7 a iil,~(CA)A RC

• • E0'39Ud *1001 **

1 allowance and payment of interim compensation for services rendered and reimbursement of 2 expenses incurred during the Application Period.

3 2. The Firm billed a total of $370,346 in fees and expenses during the 4 Application Period. The Total fees represent 933.8 hours9.259259e-5 days <br />0.00222 hours <br />1.322751e-5 weeks <br />3.044e-6 months <br /> expended during the Application 5 Period. These fees and expenses break down as follows:

6 7 Period Fees Expenses Total S November 1, 2002 - $368,048 $2,298., $370,346 9 November 30, 2002 1 1 1 10 3. Accordingly, the Firm seeks allowance of interim compensation in the total 11 amount of $315,139 at this time. This total is comprised as follows:

12 $312,841 (85% of the fees for services rendered)' plus $2,298 (100% of the expenses 13 incurred).

14 4. For the post-petition period, the Firm, as successor to the Business 15 Recovery Services practice of PriccwaterhouseCoopers, LLP, has been paid to date as 16 follows:

17 18 Application Period Amount Description Amount Paid 19 Applied

_.... For .....

20 First (April 11, 2001 - $803,642 90% of fees and $803,642 21 May 31, 200 1) 100% of expenses 22 Second (Jume 1, 2001 - $870,002 90% of fees and $870,002 23 July 3 1, 2001) 100% of expenses 24 25 26 27 28 'Payment of this amount would result in a "holdback" of $55,207 WD 071,701/I-141990314V2193 1767/v1

-2 Z,,"O'8d .,STSTj'TBT6 0.1 9"T9 861' S"1I' NI ONIITISNO I.LdI -:

OFM: M, TZ Ndr

1 First Interim Fee $2,408 10% fee holdback ($179,012) net $2,408 2

Application of PricewaterhouseCoopers LLP 3

and Court Adjustments 4

($176,604)

+

5 Third (August 1, 2001 $358,024 85% of fees and $358,024 6

August 30, 2001) 100% of expenses 7

4 8 Fourth (September 1, 2001 $293,871 85% of fees and $293,871 9 - September 30, 2001) 100% of expenses 10 Fifth (October 1, 2001 $307,809 85% of fees and $307,809 11 October 31, 2001) 100% of expenses 12 1 Sixth (November 1,2001 $215,596 85% of feesE and $215,596 13 November 30, 2001) 100% of expenses Second Interim Fee $145,541 15% fee holdback ($198,105) net $145,541 14 Application of PricewaterhouseCoopers LLP 15 16 adjustments ($52,564)

+

17 Seventh (December 1, $192,887 85% of fees and $192,887 18 2001-December 31, 2001) 100% of expenses 19 Eight (January 1, 2002- $223,013 85% of fees and $223,013 20 January 31, 2002) 100% of expenses 21 Ninth (February 1, 2002 $197,888 85% of fees and $197,888 22 February 28, 2002) 23 Tenth (March 1, 2002 $189,814 85% of fees and $189,814 24 March 31, 2002) 100% of expenses 1 4 25 Third Interim Fee $114,300 15% fee holdback ($128,506) net $114,300 26 Application of PricewaterhouseCoopers LLP 27 write-offs ($3,705) and expense 28 adjustments ($10,500)

L ___________ .1 WD 07 17 01/i-141 9 9 03/421931767/vl 1

Eleventh (April 1, 2002 - $185,003 85% of fees and $185,003 2 100% of expenses April 30, 2002) 3 $183,784 Twelfth (May 1, 2002 - $183,784 85% of fees and 4

May 31, 2002) 100% of expenses 5

Thirteenth (June 1, 2002- $81,860 85% of fees and $81,860 6

June 30, 2002) 100% of expenses 7

Fourteenth (July 1, 2002-' $204,553 85% of fees and $204,553 July 31, 2002) 100% of expenses 9

Fifteenth (August 1, 2002 $127,849 85% of fees and 106% of $127,849 10

- August 31, 2002) expenses 11 Fourth Interim (April 1, $106,253 15% holdback fees ($109,606) $106,253 12 2002 - July 31, 2002) net voluntary write-off ($3,353) _

13 Sixteenth (September 1, $84,985, 85% fees and 100% expenses $84,985 14 2002 - September 30, 15 2002) 16 Seventeenth (October 1, $113,478 85% fees and 100 % expenses $113,478 17 2002 - October 31, 2002) _

18 Total Paid to the $5,002,560- $5,002,560 19 Firm to Date 20

5. To date, the Firm is owed as follows (excluding amounts owed pursuant to 21 this Application).

22 23 Application Period Amount Description 24 Fifteenth (August 1,-2002 -August 31, $21,147 15% fee holdback 25 2002) 26 Sixteenth (September 1, 2002 - September $14,415 15% fee holdback 27 30, 2002) ,_._._ _

28 WD 071701/1-1419903/42/93 1767/v -

I 1 Application Period Amount Description 2 Seventeenth (October 1, 2002 - October 31, $18,970 15% fee holdback 3 2002) 4 Total Owed to Firm to Date $54,532 5

6. With regard to the copies of this Application served on counsel for the 6

Committee, counsel for the Debtor and the Office of the United States Trustee, attached as 7

Exhibit 1 hereto is the name of each professional who performed services in connection with 8

this case during the period covered by this Application and the hourly rate for each such 9

professional; and (b) attached as Exhibits 2-1 and 2-2 are the detailed time and expense 10 statements for the Application Period that comply with all Northern District of California 11 Bankruptcy Local Rules and Compensation Guidelines and the Guidelines of the Office of 12 the United States Trustee.

13

7. The Firm has served a copy of this Application (without Exhibits) on the 14 Special Notice List in this case.

15

8. Pursuant to this Court's 'ORDER ESTABLISHING INTERIM FEE 16 APPLICATION AND EXPENSE REIMBURSEMENT PROCEDURE" which was entered 17 on or about July 26, 2001, the Debtor is authorized to make the payment requested herein 18 without a further hearing or order of this Court unless an objection to this Application is 19 filed with the Court by the Debtor, the Committee or the United States Trustee and served by 20 the fifteenth day of the month following the service of this Application. If such an objection 21 is filed, Debtor is authorized to pay the amounts, if any, not subject to the objection. The 22 Firm is informed and believes that this Cover Sheet Application was mailed by first class 23 mail, postage prepaid, on or about December 30, 2002.

24

9. The interim compensation and reimbursement of expenses sought in this 25 Application is on account and is not final. Upon the conclusion of this case, the Firm will 26 seek fees and reimbursement of the expenses incurred for the totality of the services 27 rendered in the case. Any interim fees or reimbursement of expenses approved by this Court 28 WD 071701/1-1 4 199 03/421931767/vlI I and received by the Firm Will be credited against such final fees and expenses as may be 2 allowed by this Court.

3 10. The Firm represents and warrants that its billing practices comply with all 4 Northern District of California Bankruptcy Local Rules and Compensation Guidelines and 5 the Guidelines of the Office of the United States Trustee. Neither the Firm nor any members 6 of the Firm has any agreement or understanding of any kind or nature to divide, pay over or 7 share any portion of the fees or expenses to be awarded to the Firm with any other person or 8 attorney except as among the members and associates of the Firm.

9 10 WHEREFORE, the Firm respectfully requests that the Debtor pay compensation to the Firm 11' as requested herein pursuant to and in accordance with the terms of the 'ORDER 12 ESTABLISHING INTERIM FEE APPLICATION AND EXPENSE REIMBURSEMENT 13 PROCEDURE."

14 Dated: December 30, 2002 FTI Consulting Inc.

152 16 By: -2a4'> -- ,_

Thomas E. Lumsden, 17 Senior Managing Director 18 19 20 21 22 23 24 25 26 27 28 WD 071701/1-14199031421931767/v-Exhibit 1 Pacific Gas and Electric Summary of Time By Professional For the Period November 1, 2002 Through November 30, 2002 Professional Title Time Total Billing Rate Fee Total Agam, Amir Consultant 24.6 290 $7,134 Amaya, Jennifer Consultant 43.2 275 $11,880 Ghazi, Maryam Director 46.3 425 $19,678 Ho, Rocky Managing Director 118.1 475 $56,098 Iking, Floris Consultant 7.4 290 $2,146 Kim, Angela Paraprofessional 29.0 55 $1,595 Kitchin, Jennifer Director 78.1 425 $33,193 Lumsden, Tom Sr. Managing Director 167.5 595 $99,663 Perfit, Ryan Associate 116.4 215 $25,026 Reiss, Freddie Sr. Managing Director 41.7 595 $24,812 Sin, Theresa Associate 101.3 185 $18,741 Young, Allison Director 158.8 425 $67,490 Yozzo, John Director 1.4 425 $595 Totals 933.8 $368,048 Page I of 1

Exhibit 2 Pacific Gas and Electric Summary of Time By Task Code Novebmer 1, 2002 through November 30, 2002 Task Code Time Total Fee Total Asset Sales/Valuation Issues 149.1 $52,844 Bankruptcy ReportinglOperations 109.4 $29,374 Cash Flow Analysis 99.3 $39,825 Claims Analysis 25.6 $11,637 CPUC Review 44.0 $19,458 CPUC/OCC Plan of Reorganization, 182.5 $102,019 DWR Contracts/Analysis 33.9 $11,423 Fee Application 14.8 $4,338 FERC Review 3.1 $1,641 Financial Statement Modeling 73.4 $18,177 Financial Statements 25.3 $7,955 General Committee Matters 13.1 $6,905 Legislative Review 12.8 $5,491 Plan of Reorganization/Negotiations 145.4 $55,715 Subcommittee Matters 0.6 $357 Travel Time 1.5 $893 Totals 933.8 $368,048 Page 1 of I

Exhibit 2-1 Pacific Gas and Electric Time Reporting DetailReportingby Task Code November 1, 2002 through November 30, 2002 Professional Date Hours Billing Rate Fees Description Task Code: Asset Sales/Valuation Issues Again, Amir 11/1/2002 4.3 $290 $1,247.00 Compile and review valuation multiples on utility transactions.

Agam, Amir 11/4/2002 34 $290 $986.00 Coordinate and perform research on utility transactions for multiple analysis.

Again. Amir 11/5/2002 0.8 $290 $232.00 Begin write-ups of companies used in multiple analysis.

Again, Amir 11/5/2002 1.8 $290 $522.00 Continue work on utility multiple valuation.

Agam, Amir 11/6/2002 09 $290 $261.00 Update market multiple analysis.

Again, Amir 11/6/2002 1.5 $290 $435 00 Update transaction multiple analysis to include new data, such as type of utility and time to close.

Agam, Amr 1116/2002 1.8 $290 $522.00 Edit transaction amounts from information purchased from third party and public filings for transaction multiple analysis.

Again, Amir 11/6/2002 2.9 $290 $841.00 Write summaries and select comparables for transaction multiple analysis.

Agam. Amir 11/7/2002 2.2 $290 $638 00 Calculate and review valuation multiples for Hydro and Nuclear generation plants.

Again, Amir 11/7/2002 1.7 $290 $493.00 Review information from FERC compared to SEC data for certain utilities used in multiple analysis.

Again. Amir 11/11/2002 33 $290 $957.00 Perform quality control and review market multiple analysis.

SubTotal: Again, Amir 24.6 $7,134.00 Amaya, Jennifer 11/1/2002 1.4 $275 $385.00 Prepare summary of companies in the electric utility Industry for valuation and comparables research.

Amaya, Jennifer 11/6/2002 26 $275 $715 00 Update valuations of separate business units to reflect preferred stock, restricted cash and minonty interests.

Amaya, Jennifer 11/6/2002 2.1 $275 $577.50 Update the previous presentation regarding PwC's assessment of comparable companies to PG&E's reorganized businesses to reflect updated valuations and FTI's updated assessment.

Amaya, Jennifer 11/6/2002 3.2 $275 $880 00 Review 0OK's of comparable companies to the Genco business to update presentation with comparable company descriptions.

Friday,December 20, 2002 Page I of 32

Professional Date Hours BillingRate Fees Description Amaya. Jennifer 11/7/2002 3.7 $275 $1,017.50 Review IOK's of comparable companies to the gas transmission business to update presentation with comparable company descriptions.

Amaya, Jennifer 11/7/2002 4.3 $275 $1,182.50 Review 1K's of comparable companies to the Disco business to update presentation with comparable company descriptions.

Amaya. Jennifer 1118/2002 09 $275 $247.50 Quality review financial data in the valuation model for the gas transmission business.

Amaya, Jennifer 1118/2002 2.3 $275 $632.50 Quality review financial data in the valuation model for the Integrated utility.

Amaya, Jennifer 1118/2002 1.6 $275 $440 00 Quality review financial data In the valuation model for the Disco business.

Amaya, Jennifer 11/8/2002 2.1 $275 $577.50 Update the presentation regarding FTI's assessment of comparable companies to PG&E's reorganized businesses.

Amaya, Jennifer 11/8/2002 1,1 $275 $302.50 Quality review financial data in the valuation model

- for the Genco business.

Amaya, Jennifer 1112/2002 66 $275 $1,815.00 Prepare work papers for remaining 11 integrated utilities.

Amaya, Jennifer 11/12/2002 1.4 $275 $385.00 Update the valuation to incorporate feedback of the integrated utilities valuation.

Amaya, Jennifer 11/12/2002 13 $275 $357.50 Research Dominion and DTE Energy and add to integrated utility valuation.

Amaya, Jennifer 1112/2002 05 $275 $137.50 Review comments regarding the quality review completed for four of the integrated utilities.

Amaya, Jennifer 11/13/2002 2.4 $275 $660.00 Update presentation with comments and questions from A. Young. Also update for additional comparables added.

Amaya, Jennifer 1/13/2002 3.6 $275 $990.00 Prepare tied out work papers for presentation on separate business units and the integrated utilities.

SubTotal: Amaya, Jennt fer 41.1 $11,302.50 Ghazi, Maryam 11/13/2002 53 $425 $2,252.50 Organize backup documents for the Total utility valuation, and quality check the valuation and source to backup documents Ghazi, Maryam 11/14/2002 38 $425 $1,615.00 Quality check the valuation.

Ghazi, Maryam 11/1412002 1.1 $425 $467.50 Obtain documents for the divisional valuations.

Ghazi, Maryam 11/14/2002 3.1 $425 $1,317.50 Quality check the source to backup documents for the total utility valuation.

Ghazi. Maryam 11/15/2002 38 $425 $1,615 00 Perform valuations on different entities.

Ghazi, Maryam 11/15/2002 2.6 $425 $1,105 00 Quality check the source to backup documents for valuation on each entity.

Friday,December 20, 2002 Page 2 of 32

Professional Date Hours BillingRate Fees Descriptiont Professional Date Hours Billing Rate Fees Description Ghazi, Maryam 11/15/2002 4.1 $425 $1,742.50 Obtain documents for the divisional valuations.

Ghazi, Maryam 11/18/2002 3.8 $425 $1,615 00 Gather financial information for completing valuations of Subs.

Ghazi, Maryam 11/18/2002 3.3 $425 $1,402.50 Create an audit support binder for valuations.

Ghazi, Maryam 11/18/2002 2.9 $425 $1,232.50 Complete valuations of Subs.

SubTotal: Ghazi, Maryam 33 8 $14,365.00 Ho, Rocky 11/8/2002 1.4 $475 $665.00 Review and analyze certain components of the Murphy Expert Report as rebuttal expert witness for the debtor.

Ho, Rocky 11/8/2002 1.6 $475 $760.00 Review and analyze Huron valuation report in support of liquidation report.

Ho, Rocky 11/21/2002 1.4 $475 $665.00 Review assessment of debtor's valuation report prepared by Huron.

Ho, Rocky 11/26/2002 1.1 $475 $522.50 Review draft of comparable market value analysis.

Ho, Rocky 11127/2002 0.8 $475 $380 00 Review revised utility comparative analysis - market comps.

SubTotal: Ho, Rocky 6.3 $2,992.50 Iking, Flons 11/25/2002 0.7 $290 $203 00 Prepare market valuation comparable analysis for:

DTE.

lking, Flons 11/25/2002 0.7 $290 $203 00 Prepare market valuation analysis for: Cinergy.

iking, Flons 11/25/2002 0.7 $290 $203 00 Prepare market valuation comparable analysis for:

MDU Resources Group Iking, Floris 11125/2002 0.8 $290 $232.00 Prepare market valuation comparable analysis for TXU Corporation.

Iking, Flons 11/25/2002 08 $290 $232.00 Prepare market valuation comparable analysis for:

The Southern Company.

Iking, Flons 11/25/2002 06 $290 $17400 Prepare market valuation comparable analysis for:

Avista.

Iking, Flons 11/26/2002 0.7 $290 $203.00 Prepare market valuation comparable analysis for:

Duke Energy.

Iking, Flons 11/26/2002 06 $290 $174 00 Prepare market valuation comparable analysis for:

SCANA.

Iking, Flons 11/26/2002 0.6 $290 $174.00 Prepare market valuation comparable analysis for:

PSEG.

lking, Flods 11/26/2002 0.5 $290 $14500 Review and revise market valuation comparable summary worksheet.

]king, Flons 11/26/2002 0.7 $290 $203 00 Prepare market valuation comparable analysis for:

Entergy.

Friday,December 20, 2002 Page 3 of32

Professional Date Hours Billing Rate Fees - Description Professional Date Hours Billing Rate Fees Description SubTotal: Iking, F/ons 7.4 $Z,146 00 Lumsden, Tom 1112/2002 1.7 $595 $1,011.50 Review expert reports of Huron Consulting on valuation and deposition of Ed Murray. Follow up on comments and review comparable companies for valuation analysis.

Lumsden, Tom 11/4/2002 1.1 $595 $654 50 Research Kosturas liquidation and Huron valuation for liquidation assessment following discussion on best interests analysis with counsel.

Lumsden. Tom 1115/2002 0.9 $595 $535 50 Review comparison of Huron valuation to FTI valuation and comments of A. Young on same.

"Lumsaen.Tom 11/12/2002 1.4 $595 $833.00 Review utlity transaction selection and data and utility comparable selection to assess appropriate categorization for comparables.

Lumsden, Tom 11/13/2002 0.9 $595 $535 50 Review comparable utility transaction data and multiples in PG&E liquidation analysis and forward comments to A. Young re measurement of equity in Joint Plan.

Lumsden, Tom 11/13/2002 0.7 $595 $416 50 Review liquidation analysis of PG&E critique and market multiples and forward to S. Victor and B.Hermann as final draft.

Lumsden, Tom 11/18/2002 0.6 $595 $357.00 Assemble and forward utility comparables data and multiples analysis to C. Strand to assist in analysis of revolver credit requirements.

Lumsden, Tom 11126/2002 0.5 $595 $297.50 Review comps for integrated utilities.

SubTotal: Lumsden, Tom 7.8 $4,641.00 Sin, Theresa 11/19/2002 2.3 $185 $425 50 Review comp analysis presentation and update with new analysis, add summaries of new comps.

Sin, Theresa 11/20/2002 2.8 $185 $518.00 Continue work on comps presentation: research summanes, edit and reformat other summaries Sin, Theresa 11/21/2002 1.9 $185 $351.50 Make final edits and change to valuation presentation.

SubTotal: Sin, Theresa 7 $1,295.00

$297.50 Perform comparable transaction valuation work on Young, Allison 11/1/2002 0.7 $425 the integrated PG&E utility (valuation)

Young, Allison 11/4/2002 0.9 $425 $382 50 Review work done on PG&E valuation (valuation)

Young, Allison, 11/5/2002 3.1 $425 $1,317.50 Prepare comparable company transaction multiple analysis Young, Allison 11/6/2002 1.6 $425 . $680.00 Prepare summary of comparable utility transaction multiples Young, Allison 1118/2002 1.3 $425 $552.50 Review updates to FTI's valuation of PG&E Friday,December 20, 2002 Page 4 of32

Professional Date HO,urs Billing Rate Fees Description Hot Young, Allison 11/12/2002 12 $425 $51000 Review valuation model based on comparable market companies.

Young, Allison 11112/2002 12 $425 $510.00 Review updated presentation on CPUC and PG&E POR valuations.

Young, Allison 11/12/2002 3.5 $425 $1,487.50 Update valuation of comparable company data.

Young, Allison 11/12/2002 1.4 $425 $595.00 Create comparable transaction valuation to support the CPUC PaR.

Young, Allison 11/13/2002 0.8 $425 $340.00 Continue review of PG&E valuation presentation.

Young, Allison 11/21/2002 1.1 $425 $467.50 Analyze adjustments that may be needed to Huron valuation due to sizable cap ex requirements of the business units.

Young. Allison 11/25/2002 2.9 $425 $1,232 50 Update valuation of integrated utilities for latest quarterly filings.

SubTotal: Young, Alliso,n 19.7 $8,372.50 Yozzo, John 11/7/2002 1.4 $425 $595.00 Retrieve various historical financial statement data and market data for 20 utility/power companies Yozzo, John 1.4 $59500 SubTotal:

ion Issue 149.1 $52,843.50 T o ta l: A sset Sales lu i!aatC Task Code : Bankcruptcy R eporting/Operations Ho, Rocky 11/4/2002 1.1 $475 $522.50 Review debtor's monthly operating reports.

Ho, Rocky 11/5/2002 1.2 $475 $57000 Review and analyze debtor's proposed lease stipulations.

Ho, Rocky 11/8/2002 1.5 $475 $712.50 Review recent 8K filing of debtor re: financial restructuring of its NEG unit and the impact to parent.

Ho, Rocky 11/8/2002 2 2 $475 $1,045.00 Review and analyze debtor's motion for authonty to enter into certain power procurement contracts with the DWR.

Ho, Rocky 11/11/2002 2.4 $475 $1,140 00 Review and analyze debtor's proposed ex parte application for order authonzing compromise of" administrative appeal re.IERC credits.

Ho, Rocky 11/11/2002 1.2 $475 $570.00 Review and analyze briefs prepared by CPUC and SCE in support of the CA Supreme Court to hear certified questions raised by the 9th Circuit.

Ho, Rocky 11/12/2002 1.2 $475 $570 00 Review and analyze trading / market value of IERC credits per debtor's proposed settlement re Hunter's Point.

11/12/2002 2.5 $475 $1,187 50 Review status of FTI I PwC produced documents Ho, Rocky provided to Milbank in response to debtor's subpoena.

Friday,December 20, 2002 Page 5 o.32

Professional Date Hours Billing Rate Fees Description Ho, Rocky 11/12/2002 1.3 $475 $617.50 Review and analyze debtor's motion to enter into certain power procurement contracts including supporting declarations.

Ho, Rocky 11/14/2002 1.1 $475 $522.50 Review and analyze the Jefferson Smurfit stipulation.

Ho, Rocky 11/18/2002 2.2 $475 $1,045.00 Review and analyze vadous stipulations Including Hunter's Point, Diablo Canyon, Enron and others.

Ho, Rocky 11/18/2002 0.9 $475 $427.50 Review data request from counsel re:reference to capex issues.

Ho, Rocky 11/18/2002 1.2 $475 $570.00 Review and analyze updated Jefferson-Smurfit stipulation and supporting documentation.

Ho, Rocky 11/20/2002 1.1 $475 $522.50 Review and analyze debtor's stipulation re.PC Bonds.

Ho, Rocky 11/22/2002 1.3 $475 $617.50 Review and analyze debtor's motion to resume procurement function of the net short position.

Ho, Rocky 11/25/2002 1.3 $475 $617.50 Review and analyze declaration of Roy Kuga in support of debtor's motion for authority to resume power procurement of the net short for FY 2003.

Ho, Rocky 11/25/2002 1.7 $475 $807.50 Review and analyze debtor's motion for authorization to resume power procurement, Including procurement of the residual net short position and to Incur post-petition secured debt.

Ho, Rocky 11/27/2002 08 $475 $380.00 Review and analyze debtor's motion re:Hunter's Point settlement.

SubTotal: Ho, Rocky 262 $1Z445.00 Kim, Angela 11/8/2002 3.1 $55 $170 50 Review and record documents from other professionals and recent court filings.

Kim, Angela 11/12/2002 39 $55 $214.50 Pull and review documents for Discovery, in PG&E trial Kim, Angela 11/15/2002 2 $55 $110.00 Review and record documents from other professionals and recent court filings.

Kim, Angela 11117/2002 54 $55 $297.00 Review and record documents from other professionals and recent court filings.

Kim. Angela 11/18/2002 - 2.1 $55 $115.50 Review and record documents from other professionals and recent court filings.

Kim. Angela 11/19/2002 1.8 $55 $99.00 Review and record documents from other professionals and recent court filings.

Kim. Angela 11/20/2002 1.2 $55 $66.00 Review and record documents from other professionals and recent court filings Kim, Angela 11/21/2002 0.8 $55 $44.00 Review and record documents from other professionals and recent court filings Kim, Angela 11/22/2002 2.2 $55 $121.00 Review and record documents from other professionals and recent court filings.

Friday,December 20, 2002 Page 6 of 32

Professional Date Hours Billing Rate Fees Description Kim, Angela 11/25/2002 1.6 $55 $8800 Review and record documents from other professionals and recent court filings.

Kim, Angela 11/26/2002 2.4 $55 $132.00 Review and record documents from other professionals and recent court filings.

Kim, Angela 11/27/2002 2.5 $55 $137.50 Review and record documents from other professionals and recent court filings.

SubTotal: Kim, Angela 29 $1,595 00 Kitchin, Jennifer 11/6/2002 1.6 $425 $68000 Review industry articles/news on case updates.

Kitchin, Jennifer 11/12/2002 2.9 $425 $1,232.50 Research Corp financial health and impact on debtor.

Kitchin, Jennifer 11/12/2002 2.6 $425 $1,105.00 Research impact of NEG bankruptcy on debtor.

Kitchin, Jennifer 11/1212002 3.3 $425 $1,402.50 Review Corp. Credit Agreement Kitchin, Jennifer 11/19/2002 0 6 $425 $255 00 Review parent debt ratings letters SubTotal: Kitchin, Jennifer 11 $4,675 00 Reiss, Freddie 11/20/2002 0.3 $595 $178.50 Read Fitch ratings report.

SubTotal: Reiss, Freddie 03 $178.50 Sin, Theresa 11/1/2002 1.1 $185 $203.50 Review Celerity's Doc database and search for PG&E waterfall model.

Sin, Theresa 11/11/2002 3.2 $185 $592.00 Research Analyst reports for PGE Corp, NEG and Company debt Read 10k. Read 8K on change in debt and additional corp. debt.

Sin, Theresa 11/111/2002 1.1 $185 $203.50 Go over doc. Database and compile data request to Celenty for PGE docs.

Sin, Theresa 11/11/2002 38 $185 $703.00 Sort through PwC and FTI documents for Discovery Process in Confirmation Heanngs.

Sin, Theresa 11/12/2002 4.3 $185 $795.50 Submit second data request to Celerity for PGE docs. Go to Celenty and review docs in data room.

Sin, Theresa 11/12/2002 3.1 $185 $573 50 Review docs for discovery process in Confirmation hearings. (AK and CD).

Sin, Theresa 11/12/2002 1.8 $185 $333 00 Analyst research on PGE Corp.

Sin, Theresa 11/13/2002 3.1 $185 $573.50 Print out final version of CPUC/OCC plan and work docs. Compile all docs for discovery process and mail to Milbank.

Sin, Theresa 11/15/2002 0.2 $185 $37.00 Discuss with Milbank to docs sent for Discovery Sin, Theresa 11/17/2002 3.8 $185 $703 00 Help A Kim with organizing docs for FTI's PGE database.

Friday,December 20, 2002 Page 7 of32

Professional Date Hours BillingRate Fees Description Sin, Theresa 111/18/2002 1.8 $185 $333.00 Review and request data from Celerity Sin, Theresa 11/19/2002 28 $185 $518.00 Research approved cap ex for Etrans.

Sin, Theresa 111/19/2002 1.8 $185 $333.00 Ratebase research for 2002, find PG&E presentation on website, go over CPUC filings.

Sin, Theresa 111/21/2002 0.4 $185 $74.00 Review projected rate base presentation by PGE on web Sin, Theresa 32.3 $5,975.50 SubTotal:

Young, Allison 111812002 1.8 $425 $765.00 Review potential impact of Parent/NEG's financial condition on PG&E's ability to emerge from bankruptcy Young, Allison 1 1/11/2002 2.9 $425 $1,232.50 Pull documents for PG&E subpoena.

Young, Allison 1 1/15/2002 0.4 $425 $170,00 - Respond to S&P questions on bilateral contract.

Young, Allison 1' 1/20/2002 4.3 $425 $1,827.50 Research and review approved electric transmission projections on the ISO and CPUC websites Young, Allison 1 1/26/2002 1.2 $425 $510.00 Review emails with updates on plans and recent court activities and filings.

SubTotal: Young, Allison 10.6 $4,505.00 109.4 $29,374.00 Total: Bankruptcy Reporting/Opera Task Code : -Cash Flow Analysis Ho. Rocky 11/4/2002 0.6 $475 $285.00 Review debtor's Q3 capex update.

Ho, Rocky 11/5/2002 1.6 $475 $760.00 Review and analyze supporting documentation re.debtor's proposed capex re Pit 3,4 and 5.

Ho, Rocky 11/11/2002 1.3 $475 $617.50" Review debtors capex expenditures to date and compare to projections for FY 2003.

Ho, Rocky 11/15/2002 1.1 $475 $522.50 Review UBS financial model re.free cash flows.

Ho. Rocky 11119/2002 1.8 $475 $855.00 Review PG&E Corp's cash flow impact based on restructured NEG credit agreement.

Ho. Rocky 11/19/2002 2.5 $475 $1,187.50 Review cash flow needs of PG&E Corp and amended credit agreement re:dividend restrictions and other negative covenants; collateral constraints; NEG-specific Issues, others Ho, Rocky 11/21/2002 1.2 $475 $570 00 Review and comment on presentation on PG&E Corp's cash flow and possible impact to Plan feasibility issues.

Ho, Rocky 11/22/2002 1.2 $475 $570.00 Review and analyze supporting documentation re Diablo Canyon Turbine Replacement project Friday,December 20, 2002 Page 8 of 32

Professional Date Hours Billing Rate Fees Description Professional Date Hours Billing Rate Fees Descr:ption Ho, Rocky 11/25/2002 1.2 $475 $570 00 Review internal debtor's management analysis and discussion re:Diablo Turbine replacement project.

Ho, Rocky 11/27/2002 1.1 $475 $522.50 Review and analyze Diablo Canyon management report on feasibility.

SubTotal: Ho, Rocky 13.6 $6,460.00 Kitchin, Jennifer 11/11/2002 2.2 $425 $935 00 Reviewed/analyzed old Corp. financials Kitchin, Jennifer 11/11/2002 1.8 $425 $765 00 Reviewed PG&E Parent CF presentations Kitchin, Jennifer 11/11/2002 32 $425 $1,360 00 Researched filings re: corp. debt structure Kitchin, Jennifer 11/13/2002 37 $425 $1,572.50 Summanze Corp. Credit Agreement Kitchin, Jennifer 11/14/2002 2.6 $425 $1,105.00 Compile est. of Parent CF Kitchin, Jennifer 11/14/2002 4.1 $425 $1,742.50 Parent CF estimate summary Kitchin, Jennifer 11/15/2002 3.7 $425 $1,572.50 Summarize model assumptions for Parent CF Kitchin, Jennifer 11/15/2002 4.7 $425 $1,997.50 Construct financial model - Parent CF Kitchin, Jennifer 11/18/2002 2.4 $425 $1,020.00 Revise Parent CF model Kitchin, Jennifer 11/18/2002 3.9 $425 $1,657 50 Refine Parent CF analysis Kitchin, Jennifer 11119/2002 6.4 $425 $2,720 00 Revise parent CF analysis; reformat presentation Kitchin, Jennifer 11/20/2002 3.8 $425 $1,615 00 Finalize draft parent CF presentation Kitchin, Jennifer 11/21/2002 2.3 $425 $977.50 Amend & review Parent CF analysis SubTotal: Kdtchin, Jennifer 44 8 $19,040 00 Lumsden, Tom 11/8/2002 0.8 $595 $476 00 Review motion for payment of committee expenses for S&P fee on credit rating on Joint Plan structure.

Review vanous PG&E motions for payment of plan implementation costs.

Lumsden, Tom 11/13/2002 0.7 $595 $416.50 Review Parent loan analysis and terms and assess impact on PG&E credit ratings and impact on utility.

Lumsden, Tom 11/14/2002 05 $595 $297 50 Review PG&E parent cash flow and debt terms.

Lumsden, Tom 11/19/2002 06 $595 $357 00 Review parent debt analysis and ratings impact.

Lumsden, Tom 11/19/2002 04 $595 $238.00 Review Parent cash flow presentation and debt analysis. Review PG&E POR dividend analysis and reinvestment of earnings.

Lumsden, Tom 11/20/2002 0.8 $595 $476 00 Review capex analysis and headroom rollforward.

Friday,December 20, 2002 Page 9 of 32

Professional Date Hours BillingRate Fees Description Lumsden, Tom 11/22/2002 08 $595 $476.00 Review R.Ho memo on capex request by PG&E for Jefferson-main transmission expansion. Review materials.

4.6 $2,737.00 SubTotal: Lumsden, Tom Sin, Theresa 11113/2002 3.2 $185 $592.00 Read T.Lumsden email with attachments of past Corp information and presentations. Briefly review 100 filed today- the supplemental indenture on the 9 5% convertable sub notes.

Sin, Theresa 11/14/2002 1.2 $185 $222.00 Read and add restricted cash from Interest Reserve into corp. cash flow model.

Sin, Theresa 11/14/2002 1.8 $185 $333 00 Compile Corp research, figure out assumptions for Corp CF model Sin. Theresa 11/14/2002 2.1 $185 $388 50 Make changes to Corp CF model.

Sin, Theresa 11/20/2002 1.6 $185 $296.00 Research under collected costs of $9b in past Q's, try to reconcile PGE's calculation.

$16650 Insert debt history slide into corp. presentation and Sin, Theresa 11/21/2002 0.9 $185 Parent financials model.

Sin, Theresa 11/21/2002 2.8 $185 $518.00 Summarize credit agreement history for Corp.

11/22/2002 2.4 $185 $444.00 Reformat and insert PGE financial projections model Sin, Theresa with cap ex chart.

SubTotal: Sin, Theresa 16 $2,960 00

$595.00 Review terms of debt outstanding at Corporate, Young, Allison 1118/2002 14 $425 NEG, and the utility and the related guarantees Young. Allison 11/14/2002 ,2.3 $425 $977.50 Calculate unrecovered power purchase costs.

Young, Allison 11/14/2002 04 $425 $170.00 Review financial findings from depositions.

Young, Allison 11119/2002 1.7 $425 $722.50 Analyze how $9 billion Filed rate doctrine claim was calculated by PG&E.

Young, Allison 11/1912002 1.8 $425 $765.00 Review other factors that would impact PG&E's capital expenditure projections.

Young, Allison 11/20/2002 S -1.8. $425 $765 00 Update FTI's calculation of headroom.

Young, Allison 11/20/20022 0.9 $425 $382.50 Review subjective costs In PG&E's approved rates, or costs at risk from CPUC decisions.

Young, Allison 11/20/20022 34 $425 $1,445.00 Prepare schedule of PG&E projected capital expenditures compared to CPUC approved expenditures.

Young, Allison 11/20/200 2 0.51 $425 $212.50 Research data points to support FTI's headroom calculation.

Young, Allison 11/21/200 2 0.6 $425 $255 00 Rollforward rate base from 2001-2002.

Friday,December20, 2002 Page 10 of32

Professional Date Hours Billing Rate Fees Description Young, Allison 11/24/2002 1.6 $425 $680 00 Research historical capital expenditures and reasons for fluctuations in PG&E's 1996-2001 SEC filings.

Young, Allison 11/24/2002 13 $425 $552.50 Prepare analysis of histoncal versus projected capital expenditures.

$1,105 00 Expand footnote disclosure for court exhibits on Young, Allison 11/25/2002 2.6 $425 capital expenditure details forT. Lumsden testimony SubTotal: Young, Alhiso n 20.3 $8,627.50 99.3 $39,824.50 Total: Cash Flow Analysis Task Code: Claims Analysis Ho, Rocky 11/7/2002 08 $475 $380 00 Review and analyze claims update presentation.

Ho, Rocky 11/8/2002 13 $475 $617.50 Review and analyze debtor's expert report re:

litigation and other tort action claims.

Ho, Rocky 11/25/2002 0 8 $475 $380.00 Review reply to debtor's opposition to claimant Santos Gonzalez Herrera's motion for reconsideration of order disallowing claim.

SubTotal: Ho, Rocky 2.9 $1,377.50 Lumsden. Tom 11/6/2002 0.3 $595 $178 50 Review materials obtained in claims meeting and development of presentation to creditors committee.

Lumsden, Tom 11/6/2002 12 $595 $714.00 Participate in meeting with PG&E staff and consultants to review claims status in case with A.

Young.

Lumsden, Tom 11/7/2002 1.2 $595 $714 00 Review deposition of Fong Wan and supporting exhibits re claims detail of generators. Review schedules and assess claims reserve, cash requirement for effective date.

Lumsden. Tom 11/7/2002 0.9 $595 $535.50 Review claims analysis for presentation to creditors committee meeting. Review underlying documents from Celerity.

Lumsden, Tom 11/11/2002 06 $595 $357.00 Review schedules on generator claims attached to Fong Wan deposition and reconcile categories to FTI summary.

SubTotal: Lumsden, Tom 4.2 $2,499.00

$365.50 Review and revise the claims presentation for Perfit, Ryan 11/6/2002 1.7 $215 updated claim totals.

SubTotal: Perfit, Ryan 1.7 $365.50 Reiss, Freddie 11/7/2002 15 $595 $892 50 Review claims analysis.

Friday,December 20, 2002 Page 11 of 32

Professional Date Hours Billing Rate Fees Description SubTotal: Reiss, Freddie 1.5 $892.50 Young, Allison 11/6/2002 2.8 $425 $1,190.00 Update creditor recovery analyses based on new ash and claims data Young, Allison 11/6/2002 1.6 $425 $680 00 Review generator claims details Young, Allison 1116/2002 1.2 $425 $510.00 Attend meeting with PG&E on the claims econciliabon process Young, Allison 11/6/2002 3.1 $425 $1,317.50 Create presentation to creditors on current claims status Young, Allison 11/6/2002 0.7 $425 $297.50 Prepare for claims meeting with PG&E Young, Allison 11/7/2002 0.8 $425 $340.00 Complete creditor recovery analysis Young, Allison 11/7/2002 0.4 $425 $170.00 Call with lathan Annand on pending claim issues Finalize OCC presentation on the PG&E Claims Young. Allison 11/7/2002' 2.4, $425 $1,020.00 analysis and email to committee Young, Allison 11/13/2002 1.5 $425 $637.50 Update cash and claims on comparable transaction analysis.

Review expected environmental and litigation claim Young, Allison 11/14/2002 0.5 $425 $212.50 payments.

Young, Allison - 11/21/2002 0.3 $425 $127.50 Discuss generator claims with PG&E.

SubTotal: Young, Allison 15.3 $6, .502.50 25.6 $11, 637.00 Total: Claims Analysis Task Code: CPUC Review Ho, Rocky 1115/2002 0.8 $475 -" $38000 Review and analyze recent CPUC rulings and future calendar of events.

Ho, Rocky 11/2712002 0.8 $475 $380.00 Review and analyze J Lo's testimony re:headroom calculation of $2.1B.

Ho, Rocky 11/29/2002 1.1 $475, $522.50 Review and analyze TRA I regulatory impact based on CPUC and debtor's expert witnesses.

SubTotal: Ho, Rocky 2.7 $1,282.50 Lumsden, Tom 111/6/2002 1.1 $595 $654.50 Review listings and details of recent CPUC filings, including procurement Issues.

Lumsden, Tom 11/6/2002 12 $595 $714.00 Review declaration and exhibits of PG&E expert from SG Cowan on feasibility of Joint Plan.

Lumsden, Tom 11/712002' 0.4 $595 $238.00 Review CPUC actions of Nov 7.

Friday,December 20, 2002 Page 12 of32

Professional Date Houirs BillingRate Fees Descriptiont Professional Date Hours Billing Rate Fees Description Lumsden, Tom 11/7/2002 1.1 $595 $654.50 Review Standard and Poors presentation materials prepared by CPUC for Creditors Committee meeting discussion. Review of underlying CPUC decisions on same.

Lumsden, Tom 11/8/2002 09 $595 $535 50 Review email from E. Feo re surcharge for Direct Access and review reports from TURN on same.

Assess impact on plan projections.

Lumsden, Tom 1119/2002 1.6 $595 $952.00 Review motions and filings by PG&E re procurement of net short and CPUC decisions to support same.

Review declarations to support motion.

Lumsden, Tom 11/10/2002 1.1 $595 $654.50 Review CPUC filing with Califomia Supreme Court re 9th Circuit decision on Lynch case.

Lumsden. Tom 11/10/2002 0.9 $595 $535 50 Review sections of AB 1890 and Calif Public Utility Code on authority of commission re rate changes and impact on headroom cash.

Lumsden, Tom 11/10/2002 1.5 $595 $892.50 Review Edison filing with Calif Supreme Court re 9th circuit decision. Assess impact on CPUC authority issue and affect on rate setting by CPUC re headroom retention.

Lumsden, Tom 11/12/2002 0.3 $595 $178.50 Telephone call with E. Feo re filed rate case and altematives re CPUC authority.

Lumsden, Tom 11/12/2002 0.5 $595 $297 50 Review files on 9th Circuit decision pertaining to aspects of filed rate case.

Lumsden. Tom 11/13/2002 0.7 $595 $416.50 Review FTCR filing in SCE vs. Lynch dated November 5, 2002.

Lumsden, Tom 11/13/2002 1.1 $595 $654 50 Review PUC code section 840-847 for support re financing orders.

Lumsden, Tom 11113/2002 06 $595 $357 00 Review portion of Judge Walker ruling on filed rate case.

Lumsden, Tom 11113/2002 07 $595 $416.50 Review CPUC decision of November 7, 2002 re financing of Joint Plan.

Lumsden, Tom 11/13/2002 1.5 $595 $892.50 Review sections of Public Utility code section 399; section 701; section 728; and section 1708 for preparation for confirmation hearing.

Lumsden. Tom 11/13/2002 0.5 $595 $297.50 Review section 381 of public utility code for joint plan authority issues.

Lumsden, Tom 11/13/2002 0.8 $595 $476 00 Review public utility code section 850-859 re lien restrictions on stock of utility re PG&E Corp.

Lumsden, Tom 11/14/2002 1.8 $595 $1,071.00 Review Public Utility Code section 330-355 re restructuring to assess CTC recovery and legislation re CPUC authonty.

Lumsden, Tom 11/15/2002 0.4 $595 $238 00 Review Judge Walker decision on TURN appeal of SCE vs.Lynch settlement.

Lumsden, Tom 11/15/2002 13 $595 $773 50 Review public utility code section 300-380 re restructuring of electncity market.

Friday,December 20, 2002 Page 13 of32

Professional Date Hours BillingRate Fees -- Description Lumsden, Tom 11119/20022 1.4 $595 $83300 Review Milbank memo on authority of CPUC re Reorg Agreement and POR.

2 Lumsden, To'm 11/26/2002 0.9 $595 $535.50 Review motion to resume power procurement and declaration of Roy Kuga SubTotal: Lumsden, Tom 22.3 $13,268.50 Sin, Theresa 1 1/1/2002 1.7, $185 $314.50 Review past filings, and items on the agenda for next week.

Sin, Theresa 1 1/5/2002 3.5 - $185 $647.50 Summarize recent CPUC filings to team (1). Also review proposals for R.02.01.011 and D.01-03-082 coming up in CPUC Agenda.

Sin, Theresa 11/6/2002 0.3 $185 $55.50 Check Agenda for any changes to tomorrow's meeting.

Sin, Theresa ,11/8/2002 1.6 $185 $29600 Follow-up on outcome of yesterday's CPUC meebng. Read note from Milbank and current announcements on CPUC website Sin, Theresa 11/1412002 1.3 $185 $240.50 Review recent filings with CPUC.

Sin, Theresa 11/15/2002 1.9 $185 $351.50 CPUC Review - review recent filings.

Sin, Theresa 11/1812002 2.5 $185 $462.50 Ust various CPUC Law codes for T. Lumsden.

Sin, Theresa 11121/2002 ,0.4 $185 $74.00 Review filing on CPUC approved cap structure for PGE.

SubTotal: Sin, Theresa 13.2 $2,442.00 Young, Allison 11/14/2002 2.4 $425 $1,020.00 Research FTCR vs. Lynch Young, Allison 11/14/2002 2.6 $425 $1,105 00 Calculated cash at risk from unfavorable FTCR vs.

Lynch ruling.

Young, Allison 11/20/2002 08 $425. $340.00 Discuss the CPUC's calculation of headroom in comparison to PG&E's and FTI's with J. Lo at CPUC.

SubTotal: Young, Allison 5.8 $2,465.00 Total: CPUCReview 44 $19,458 00 Task Code: CPUC/OCC Plan of Reorganization Ho, Rocky 11/1/2002 1.1 $475 $522.50 Review and analyze UBS financial Information prepared for the OCC.

Ho, Rocky 11/5/2002 0.9 $475 $427.50 Review and analyze Joint Plan's motion for re solicitation.

Ho, Rocky 11/6/2002 1.8 $475 .$855.00 Review and analyze Joint Plan's Confirmation Bnef and Memorandum of Points and Authority.

Friday,December 20, 2002 Page 14 of32

Professional Date Hours Billing-Rate Fees Description Professional Date Hours Billing.!? ate Fees Descrzption Ho. Rocky 11/6/2002 1.1 $475 $522.50 Review and analyze Joint Plan's filed Finding of Facts in support of the Confirmation Brief.

Ho, Rocky 11/7/2002 2.7 $475 $1,282.50 Review and analyze Joint Plan's POR dated November 6, 2002.

Ho, Rocky 11/7/2002 1.6 $475 $760.00 Review final draft of Joint Proponents application for resolicitatioin of votes.

Ho. Rocky 11/11/2002 2.3 $475 $1,092.50 Review and analyze PG&E's trial bnef in opposition to the Joint Plan.

Ho. Rocky 11/12/2002 2.3 $475 $1,092.50 Review Kosturos deposition and prepare observations of the liquidation analysis.

Ho. Rocky 11/12/2002 1.1 $475 $522.50 Review Kosturos deposition and prepare observations regarding preference matters.

Ho, Rocky 11/13/2002 17 $475 $807.50 Review and comment on draft observations of the Kosturos liquidation I preference matters.

Ho, Rocky 11/13/2002 2.2 $475 $1,045 00 Review and analyze vanous expert reports (Patterson and Scotto) of ad-hoc financial committee's objection to Joint plan Ho, Rocky 11/14/2002 1.4 $475 $665 00 Review and analyze Hulse deposition in support of the Joint Plan.

Ho, Rocky 11/15/2002 0.8 $475 $380 00 Review and analyze data request from debtor re:Joint Plan.

Ho, Rocky 11/18/2002 1.1 $475 $522 50 Review Confirmation / trial summary of Joint Plan.

Cohen testimony, etc.

Ho, Rocky 11/19/2002 0.9 $475 $427.50 Review and analyze vanous credit ratings agencies' indicative letters re:Joint Plan.

Ho. Rocky 11/20/2002 12 $475 $570.00 Review credit assessment reports from S&P and Fitch.

Ho. Rocky 11/20/2002 2.1 $475 $997.50 Review and analyze testimony of Walter Hulse, UBS Warburg in support of financing capabilities of the Joint CPUC/OCC Plan.

Ho. Rocky 11/25/2002 15 $475 $712.50 Review and analyze expert report of T Murphy, SG Barr Devlin, re:investment grade feasibility of CPUC I OCC plan.

Ho, Rocky 11/29/2002 1.3 $475 $617.50 Review and analyze debtor's tnal bnef re equity issues in opposition to the Joint Plan.

SubTotal: Ho, Rocky 29 1 $13,822.50 Lumsden, Tom 11/1/2002 1.1 $595 $654.50 Participate in conference call with Moody's on meeting with CPUC legal team and address authonty and terms of Joint POR.

Lumsden, Tom 11/1/2002 0.4 $595 $238 00 Discuss Moody's ratings agency comments with Mike Hamilton and follow-up up on data requests.

Lumsden, Tom 11/1/2002 1.1 $595 $654.50 Review deposition and expert report of Oglemander re ratings agency determination. Prepare comments to legal counsel on same.

Friday,December 20, 2002 Page 15 of32

Professional Date Hours Billing Rate Fees . Description Professional Date Hours Billing Rate Fees - Description Lumsden. Tom 11/1/2002 1.4 $595 $83300 Review Kosturas deposition comments from R. Ho.

Review Kosturas depo data and expert report..

Lumsden, Tom 11/4/2002 0.5 $595 $297.50 Telephone call with P.Aronzon and B. Hermann re liquidation analysis and alternate views for best interests test.

Lumsden. Tom 11/4/2002 0.8 $595 $476.00 Review PG&E deposition list on Milbank website and review notes on K. Harvey deposition.

Lumsden, Tom 11/4/2002 0.5 $595 $297.50 Telephone call with J. Wilson and M. Hamilton re S&P meeting comments and follow-up.

Lumsden, Tom 11/5/2002 1.4 $595 $833.00 Prepare draft of workplan for confirmation heanng,.

research brief and filings for same.

Lumsden, Tom "11/8/2002 0.8 $595 $476.00 Download joint plan confirmation filing documents and motions for re-solicitation for preference, review these documents.

Lumsden, Tom 11/8/2002 0.6 $595 $357.00 Review materials on preference solicitation vote.

Lumsden. Tom 11/8/2002 0.8 $595 $476.00 Review workplan re confirmation hearing and support analysis for plan confirmation heanng and review of expert reports and depositions.

Lumsden, Tom 11/9/2002 0.3 $595 $178.50 Review summary of depositions of experts and request transcripts for review.

Lumsden, Tom 1119/2002 1.1 $595 $654 50 Review CPUC confirmation brief document Lumsden, Tom 11/9/2002 0.7 $595 $41650 Review CPUC materials on findings of fact for confirmation of Joint Plan.

Lumsden. Tom 11/111/2002 0.4 $595 $238.00 Review PG&E filings in opposition to Joint Plan confirmation.

Lumsden, Tom 11/12/2002 2.4 $595 $1,428 00 Draft reply on best interests test objections of PG&E to joint plan. Direct A. Young on valuation of Joint Plan equity based on transactions and market trading multiples.

Lumsden, Tom 11/12/2002 1.7 $595 $1,011.50 Review and critique PG&E objections to joint plan and brief. Prepare notes for follow-up.

Lumsden. Tom 11/12/2002 0.3 $595 $178.50 Telephone call with M. Hamilton and J. Wilson re PG&E objections to joint plan.

Lumsden, Tom 11112/2002 0.8 $595 $476.00 Conference call with M. Hamilton and A. Young re review of PG&E objections to joint plan. Discuss alternative arguments and support.

Lumsden, Tom 11/12/2002 0.2 $595 $11900 Telephone call with D. Bodek at S&P re data request.

Lumsden, Tom 11/12/2002 1 $595 $595.00 Review Kosturas deposition transcnpt and lift out comments and findings for CPUC follow-up. Prepare memo on same.

Lumsden, Tom 11/12/2002 0.4 $595 $238 00 Telephone calls and emails with S. Victor re preparation of reply brief.

$773.50 Review Ad Hoc committee expert reports in Lumsden, Tom ~11113/2002 1.3 $595 opposition to Joint Plan by Patterson and Scotto.

Friday,December 20, 2002 Page 16 of32

Professional Date Hours Billing Rate Fees Description Lumsden, Tom 11/13/2002 1.2 $595 $714 00 Review bilateral contract data and rate base and discuss reconciliation of UBS and PG&E numbers in telephone calls with G. Navarette and J. Colella.

Lumsden, Tom 11/14/2002 0.6 $595 $357 00 Review deposition of W. Hulse and notes re financial projections prepared by UBS.

Lumsden, Tom 11/15/2002 0.4 $595 $238 00 Telephone call with P Aronzon re confirmation heanng schedule and testimony requirements.

Lumsden, Tom 11/15/2002 06 $595 $357.00 Telephone call with J Wilson re J. Rosenthal deposition details and UBS modeling questions.

Discuss confirmation heanng schedule.

Lumsden, Tom 11/15/2002 1.6 $595 $952 00 Review Walt Campbell deposition schedules in support of PG&E plan and compare with FTI data and plan numbers for Joint Plan.

Lumsden, Tom 11/15/2002 1.3 $595 $773 50 Review Ken Crews deposition of UBS re joint plan projections, feasibility and scope of work.

Lumsden, Tom 11/1512002 1.1 $595 $654 50 Review and research questions from S&P re bilateral contracts of PG&E. Review PG&E models and load and resource data. Discussions with B. Lamb, G.

Navarette.

Lumsden, Tom 11/15/2002 0.5 $595 $297.50 Telephone call with M. Hamilton re application of SOP 90-7 on reorg accounting and discuss Illinova quasi reorg treatment Lumsden, Tom 11/17/2002 1.2 $595 $714 00 Review PG&E trial brief on opposition to Joint Plan to summarize points.

Lumsden, Tom 11/17/2002 2 $595 $1,190 00 Review CPUC trial brief and support for confirmation of Joint Plan.

Lumsden, Tom 11/17/2002 0.6 $595 $357 00 Review emails and reply to inquiry on document production on capex detail. FTI modeling.

Lumsden, Tom 11/18/2002 04 $595 $238 00 Assemble materials for confirmation hearing trial.

Lumsden. Tom 11/18/2002 6.1 $595 $3.629.50 Participate in Joint Plan confirmation heanng in SF Bankruptcy Court Procedural scheduling matters and opening statements. Direct testimony of G.

Cohen.

Lumsden, Tom 11/18/2002 0.9 $595 $535.50 Discussions with P.Aronzon, M. Diamond and CPUC counsel re PUC sections on authority of CPUC.

Lumsden, Tom 11/18/2002 1.7 $595 $1,011.50 Review CPUC filings for joint plan, review Fitch credit assessment letter, review draft letter to S&P re legal opinion of CPUC.

Lumsden, Tom 11/19/2002 33 $595 $1,963.50 Attend confirmation heanng on Joint Plan, G. Cohen testimony and cross examination. Review CPUC code sections and estimates of excess cash from headroom.

Lumsden, Tom 11/19/2002 04 $595 $238.00 Read letter of G Cohen on legal authority of CPUC sent to S&P.

Friday,December 20, 2002 Pa-ge 17 of32

Professional Date Hours Billing Rate- 'Fees Description Lumsden, Tom 11/19/2002 3 $595 $1,785 00 Attend confirmation heanng on Joint Plan including Jeanette Low testimony on headroom, S. Victor examination re plan history, and Elliott cross re FERC Sec 203 authority.

Lumsden, Tom 11/19/2002 0.4 $595 $238.00 Review/draft workplan for confirmation hearing.

Lumsden, Tom 11/20/2002 3.9 $595 $2,320.50 Attend confirmation heanng on Joint Plan, W. Hulse testimony on UBS model and financing feasibility.

Analyze detail of PG&E POR projections update Nov 2002.

Lumsden, Tom 11/20/2002 0.4 $595 $238.00 Meet with Milbank counsel and provide capex analysis for discussion.

I Lumsden, Tom 11/20/2002 2.9 "$595 $1,725.50 Attend confirmation hearing on Joint Plan. W. Hulse testimony, review article on Calif Supreme Court accepting Issue on FTCR v. Lynch. review term sheets of UBS on securities.

Lumsden, Tom 11/21/2002 0.9 $595 $535 50 Review capex analysis of PG&E Nov 2002 POR projections and underlying detail. Outline exhibit preparation for confirmation hearing re capex financing, detail comparisons, and headroom.

Lumsden, Tom 11/21/2002 .3 $595 $1,785 00 Participate in confirmation trial re Joint Plan. J.

Wilson testimony, Rule 52 motion for dismissal.

Review TRA-TCBA analysis.

Lumsden, Tom 11/21/2002 3.4 $595 $2,023.00 Attend confirmation trial on Joint Plan re D. Long.

Prof. Baghwat, and J. Wilson testimony. Review and edit parent cash flow and debt analysis.

Lumsden, Tom 11/21/2002 0.3 $595 $178.50 Review W. Campbell deposition schedules re capex detail.

Lumsden, Tom 11/21/2002 1.1 $595 $654.50 Meet with counsel from Milbank and for CPUC re address reply to Rule 52 motion.

Lumsden, Tom 11/22/2002 08 $595 $476 00 Review workplan including headroom, capex, Lynch decision refund, filed rate settlement, unrecovered procurement amount, rate Impact of capex levels.

Lumsden, Tom 11/22/2002 3.6 $595 $2,142.00 Attend court heanng on Rule 52 motion in Joint Plan for PG&E.

Lumsden, Tom "11/22/2002 1.4 $595 $833.00 Review capex analysis and source of funding In PG&E April 2002 POR. Evaluate linkage In funding of Capex between Genco and Etrans. Format file for exhibit purposes.

Lumsden, Tom 11/23/2002 - 2.3 $595 $1,368.50 Review materials for support of joint plan, Including capex analysis for each disaggregated company and funding altematives for greater levels, review valuation of equity under joint plan, review comparables.

Lumsden, Tom 11/24/2002 45 $595 $2,677.50 Meet with attorneys for CPUC and Milbank re strategy and analysis of filed rate case damages and settlement value, liquidation assessmenL value of joint plan equity, and capex analysis.

Lumsden, Tom 11/25/2002 3.8 $595 $2,261.00 Attend hearing on confirmation of Joint Plan re testimony of Mr. Murphy and Mr. Feter.

Friday,December20, 2002 Page 18 o.f"32

Professional Date Hozirs BillingRate Fees Description Professional Date Hours Billing Rate Fees Description Lumsden, Tom 11125/2002 33 $595 $1,963 50 Attend court hearing on Rule 52 Motion decision and testimony of Mr. Murphy for PG&E Lumsden, Tom 1'1/25/2002 0.9 $595 $535.50 Review capex analysis on historic basis and comparisons of PG&E capex changes, format for exhibits for attorneys.

Lumsden, Tom 1 1/25/2002 1 $595 $595.00 Meet with attorneys for CPUC and review capex analysis and exhibits prepared for tnal.

Lumsden, Tom 1 1/26/2002 27 $595 $1,606.50 Attend heanng on confirmation of Joint Plan.

Testimony of PG&E Capex witnesses and filed rate experts.

Lumsden, Tom 1 1/26/2002 1.1 $595 $654.50 Review valuation comparables and exhibits from Mr.

Murphy expert reports.

Lumsden. Tom 1 1/26/2002 0.7 $595 $416.50 Review matenals on unrecovered procurement costs of PG&E and application of TCBA, TRA and GMA accounts.

Lumsden, Tom 1 1/26/2002 06 $595 $357 00 Telephone call with attorneys for CPUC re filed rate settlement testimony, obtaining documents and setting meeting for review of findings for Sunday evening.

Lumsden. Tom 111/26/2002 0.8 $595 $476 00 Review PG&E objection to solicitation of preference vote under Joint Plan.

Lumsden, Tom 11/2712002 51 $595 $3,034.50 Review PG&E Joint Plan POR provisions re filed rate settlement, review testimony of K. Harvey, review TCBA and TRA schedules from April 2000 to Sept 2002. Develop understanding for testimony on settlement of filed rate case under Joint Plan.

Lumsden, Tom 11129/2002 2 $595 $1,190.00 Review TRA and TCBA and GMA account materials for each month.

Lumsden, Tom 11129/2002 05 $595 $297.50 Telephone call with P. Aronzon re TCBA and TRA and filed rate settlement.

Lumsden. Tom 11/29/2002 22 $595 $1,309.00 Review TRA and TCBA write-ups, review PUC code sections on same in preparation for filed rate settlement testimony Lumsden, Tom 11/30/2002 3.4 $595 $2,023 00 Review TRA-TCBA and GMA accounts for 1999 2002 for each month, understand PG&E accounting and postings, summarize detail for analysis.

SubTotal: Lumsden, Tom 103.9 $61,820 50 Reiss, Freddie 1 1/8/200, 1 $595 $595 00 Review pleadings regarding resolution of preference.

Reiss, Freddie 11./11/2002 0.5 $595 $297.50 Read counsel's motion on trial.

Reiss, Freddie 11,/12/2002 22 $595 $1,309 00 Review PG&E trial brief. Review other pleadings and UBS analysis.

Reiss, Freddie 11I115/2002 1.8 $595 $1,071 00 Review trial brief and re solicitation pleadings.

Reiss. Freddie 11 118/2002 0.4 $595 $238 00 Read UBS highly confidential plan.

Friday,December 20, 2002 Page 19 of 32

Date Hours Billing Rate Fees Professional Description Professional Date Hours Billing Rate Fees Descrzption Reiss, Freddie 11118/2002 0.2 $595 $11900 Read US Government objection to CPUC Plan.

Reiss, Freddie 11/18/2002 6.4 $595 $3,808 00 Attend confirmation heanng by court conferencing.

Reiss, Freddie 11/1912002 1 $595 $595.00 Read memo's from counsel regarding CPUC plan authority and CPUC opinion letter to rating agency.

Reiss, Freddie 11/19/2002 4.9 $595 $2,915.50 Listen to court confirmation hearing via Court Conferencing.

Reiss, Freddie 11/20/2002 0.5 $595 $297.50 Read memo from counsel regarding trial and daily summary.

Reiss, Freddie 11/20/2002 28 $595 $1,666.00 Attend confirmation hearing through Court Conferencing Reiss, Freddie 11/21/2002 3.9 1 . $595 $2,320.50 Attend confirmation hearing by court conferencing.

$2,142.00 Attend conference hearing through Court Reiss, Freddie 11/22/2002 3.6 $595 Conferencing.

Reiss. Freddie 11/25/2002 0.3 $595 $178 50 Trial update.

Reiss, Freddie 1112712002 1.9 $595- $1,130.50 Trial update from counsel and review debtor pleadings.

SubTotal: Reiss, Freddie 31.4 $18,683.00 Young. Allison 11/13/2002 3.8 $425 $1,615 00 Respond to questions from S&P on the CPUC/OCC POR.

Young, Allison .11/18/2002 0.8 $425 $340.00 Reconcile PG&E Cap ex schedule to OCC/CPUC POR projections.

Young. Allison 11/1912002 1.6 $425 $680.00 Review CPUC's calculation of headroom and compare to FTI's.

Young, Allison 11/1912002 1.3 $425 $552.50 Calculate benefits of CPUC plan to PG&E equity holders.

Young, Allison 11/21/2002 08 $425 $340.00 Work on analysis of rates In CPUC POR that are at risk of future CPUC commission adjustments.

Young, Allison 11/22/2002 1.2 $425 $510.00 Update analysis of costs at risk from future CPUC commission decisions.

Young, Allison 11/22/2002 2 $425 $850.00 Evaluate / calculate ability of PG&E to fund cap ex through additional debt in CPUC/OCC POR.

Young, Allison 11/25/2002 2.8 $425 $1,190.00 Review and build pyramid of cost at risk from future CPUC commission reversals.

Young, Allison 11/26/2002 38 $425 $1,615.00 Prepare analysis on funding of CPUC capital expenditures and forward with commentary to T.

Lumsden.

SubTotal: Young, Allison 18.1 $7,692.50 Total: CPUC/OCCPlan of Reorgan 182.5 * $102,018 50 Friday,December 20, 2002 Page20 of32

Professional Date Hours Billing Rate Fees Description Task Code : DWVR Contracts/Analysis Kitchin, Jennifer 11/7/2002 4.2 $425 $1,785 00 Research amendments to DWR Contracts 11/8/2002 4.8 $425 $2,040 00 Research DWR contract amendments Kitchin, Jennifer 11/8/2002 1.3 $425 $552.50 Review DWR contracts summary Kitchin, Jennifer Kitchin, Jennifer 11/8/2002 0.3 $425 $127.50 Coordinate obtaining Navigant DWR information Kitchin, Jennifer 11/11/2002 1.1 $425 $467.50 Reviewed FTI DWR contract summary 11/13/2002 1.1 $425 $467.50 Review DWR payments in POR model Kitchin, Jennifer Kitchin. Jennifer 11/13/2002 0.9 $425 $382.50 Contact DWR/Navigant for NDA and access to model.

Kitchin, Jennifer 11/15/2002 0.4 $425 $17000 Emails re: DWR/Navigant NDA Kitchin, Jennifer 11/18/2002 1.7 $425 $722.50 DWRlNavigant NDA review/execution Kitchin, Jennifer 11/20/2002 0.8 $425 $340 00 Emails re: NDA: calls re: model distribution Kitchin, Jennifer 11/21/2002 0.9 $425 $382.50 DWR contract model review Kitchin, Jennifer 17.5 $7,437.50 SubTotal:

Lumsden, Tom 11/13/2002 05 $595 $29750 Review reports on Williams settlement with State and modification to contract with DWR. Review contracts file.

Lumsden, Tom 11114/2002 1 $595 $595.00 Review DWR website re modification to Williams contract on settlement for impact on DWR long term contracts cash requirements 15 $892.50 SubTotal: Lumsden, Tom Perfit. Ryan 111/8/2002 1.6 $215 $344.00 Review of the PG&E DWR Contract Model.

Perfit, Ryan 1.6 $344 00 SubTotal:

Sin, Theresa 11/5/2002 05 $185 $92 50 Check DWR website and Treasury website for any updates on bond offerings.

Sin, Theresa 11/7/2002 4.3 $185 $795.50 Review DWR Bond OF and POS, print out and start worksheet on bond terms.

Sin, Theresa 1117/2002 08 $185 $148 00 Review FTIs DWR Contracts model and check for last update with renegotiated contracts Sin. Theresa 11/8/2002 1.1 $185 $203.50 Review M.Neis' summary of L-T DWR contracts in model. Find website for renegotiated contracts.

Contact Milbank to get access to Navigant model on contract allocation.

Friday,December 20, 2002 Page 21 of32

Professional Date Hours BillingRate Fees Description Sin, Theresa 1118/2002 1.1 $185 $203.50 Review FTI's DWR Contracts model and check for last update with renegotiated contracts.

Sin, Theresa 11/11/2002 2.6 $185 $481.00 Review L-T DWR renegotiated contracts.

Sin, Theresa 11118/2002 0.3 $185 $55.50 Follow-up on NDA for DWR model Sin, Theresa 11/21/2002 1.4 $185 $259.00 Review DWR model from Navigant.

SubTotal: Sin, Theresa 12.1 $2,238.50 Young. Allison 11/712002 1.2 $425 $51000 Update DWR contract model with new information on bond payments and contract allocations SubTotal: Young, Allison 1.2 $510 00 33_9 $11,422.50 Total: DWR Contracts/Analysis Task Code: Fee Apllication

$522.50 Prepare and review time detail descriptions for month Ho, Rocky 11/20/2002 1.1 $475 ended October 2002.

Ho. Rocky 11/26/2002 1 $475 $475 00 Review final draft October monthly fee application.

SubTotal: Ho, Rocky 2.1 $997.50 Lumsden, Tom 11/23/2002 1.1 $595 $654.50 Review monthly fee statement for FTI for October 2002.

SubTotal: Lumsden, Tom 1.1 $654.50 Perfit. Ryan 11/26/2002 1.2 $215 $258.00 Make edits to the October fee application and fee application database.

SubTotal: Perfit,Ryan 1.2 " $258 00 Sin, Theresa 11/1512002 2.6 $185 $481.00 FEE APP: print WIP, pull excel file, create expense detail and compile time for Oct fee app submittal.

Sin, Theresa 11/18/2002 1.6 $185 $296 00 Compile time and expenses to ensure adequate disclosure.

Sin, Theresa 1111912002 1.1 $185 $203.50 Review expenses exhibit and wnte-offs.

Sin, Theresa 11 20/2002 1.1 '$185 $203.50 Review time detail exhibits, check for meetings with multiple professionals.

Sin, Theresa 11/20/2002 1.1 $185 $203 50 Work on cover letter and check with PGE orn payments made to amend table In cover letter.

Sin. Theresa 11/22/2002 0.8 $185 $14800 Confirm PGE payment for 4th Interim Holdback and make changes to cover letter Friday,December 20, 2002 Page 22of 32

Professional Date Hours BillingRate Fees Description SubTotal: Sin, Theresa 8.3 $1,535 50 Young. Allison 11/20/2002 03 $425 $12750 Review expense detail for the November cover letter application Young, Allison 11/20/2002 0.5 $425 $212.50 Review time detail for November cover letter application.

Young, Allison 11/21/2002 06 $425 $255 00 Review November cover letter application.

Young. Allison 11/2212002 04 $425 $170.00 Review adjusted cover letter application for October time penod.

Young, Allison 11/25/2002 0.3 $425 $127.50 Review and edit latest draft of November cover letter application.

SubTotal: Young, Allison 2.1 $892 50 Total: Fee Application 14.8 $4,33800 Task Code: FERC Review Lumsden, Tom 11/1112002 1.7 $595 $1,011 50 Review FERC proceedings summary on PG&E bilateral contract for Genco to assess comparable rate structure and assess impact of FERC changes on Genco cash flows.

Lumsden, Tom 11/14/2002 0.2 $595 $11900 Review FERC press reports on investigation of Califomia power pnces SubTotal: Lumsden, Tom 1.9 $1,130 50 Young, Allison 11/11/2002 12 $425 $510.00 Review findings of FERC's preliminary ruling on PG&E bilateral contract.

SubTotal: Young, Allison 1.2 $51000 Total: FERC Revieew 3.1 $1,640.50 Task Code: Financial Statement Modeling Ho. Rocky 11/21/2002 1.3 $475 $617.50 Review and analyze UBS model re capex projections.

Ho, Rocky 11/25/2002 0.9 $475 $427 50 Review UBS Warburg financial model re'Joint Plan issues, emphasis on capex estimations.

SubTotal: Ho, R ocky 22 $1,045 00 Lumsden, Tom 11/13/2002 04 $595 $238 00 Review DWR revenue requirement notes and review PG&E URG decision for impact on rate base adjustment for UBS plan modeling Friday,December 20, 2002 Page 23 of 32

Professional Date Hours Billing Rate Fees Description Professional Date Hours Billing Rate Fees Description Lumsden,'Tom 11/15/2002 0.4 $595 $238 00 Research accounting under SOP 90.7 for Joint plan modeling.

Lumsden, Tom 11115/2002 1.6 $595 $952 00 Review and compare PG&E updated projections and compare with old PG&E numbers, UBS projections,

- and DWR-Navigant data.

Lumsden. Tom 11117/2002 0.6 $595 $357.00 Review PG&E capex schedules and historic capex use to assess FTI adjustments to PG&E projections.

Overlay new capex numbers from W. Campbell deposition.

Lumsden, Tom 11119/2002 1.3 $595 $773.50 Review capex analysis and work plan for comparison of PG&E updated numbers with UBS model and old

- PG&E numbers.

Lumsden. Tom 11/26/2002 0.5 , $595 $297.50 Review modeling of cost structure of PG&E under Joint Plan to delineate costs subject to change by CPUC in Pyramid format.

SubTotal: Lumsden, Tom 48 $2,856.00 Perfit, Ryan 11/13/2002 36 $215 $774.00 Create an analysis model for the November 2002 PG&E Plan of Reorganization for the Distribution Debtor entity.

Perfit. Ryan 11/13/2002 1.9 $215 $408 50 Create an analysis model for the November 2002 PG&E Plan of Reorganization for the Generation Debtor entity.

Perfit, Ryan 11/14/2002 4.4 $215 $946.00 Create an analysis model for the November 2002 PG&E Plan of Reorganization for the Electric Transmission Debtor entity.

Perfit. Ryan 11114/2002 1.9 $215 $408.50 Continue to create an analysis model for the November 2002 PG&E Plan of Reorganization for the Generation Debtor entity.

Perfit, Ryan 11/14/2002 39 $215 $838 50 Create an analysis model for the November 2002 PG&E Plan of Reorganization for the Gas Transmission Debtor entity Perfit. Ryan 11/18/2002 55 $215 $1,182.50 Review the PG&E POR model load and pnce assumptions.

Perfit. Ryan 11119/2002 -39 $215 $838.50 Revise Cap Ex projections analysis.

Perfit, Ryan 11/1912002 5.5 $215 $1,182.50 Create a schedule to analyze the Cap Ex projections in the PG&E POR Model.

Perfit, Ryan 11/20/2002 6.4 $215 $1,376.00 Create a schedule to reconcile the Cap Ex projections In the PG&E POR Model to the entity detail.

Perfit, Ryan 11/20/2002 5 $215 $1.075 00 Create a schedule to analyze the Cap Ex projections in the PG&E POR Model.

Perfit, Ryan ,11/21/2002 2.4 $215 $516 00 Research electric customer statistics.

,11/21/2002 $215 $838.50 - Prepare a schedule analyzing excess capital Perfit, Ryan 39 Friday,Decenmber 20, 2002 Page24 of 32

Professional Date Hours Billing Rate Fiees Description Perfit, Ryan 11/22/2(0 )2 23 $215 $4 94.50 Review the PG&E POR model volume and price assumptions.

Perfit, Ryan 11/22/20012 1.1 $215 $2. 36 50 Research electric customer statistics.

Perfit, Ryan 11/22/20012 2 $215 $4' 30 00 POR and CapEx Analysis.

Perfit, Ryan 11/25/20C12 1.9 $215 $4C 08.50 Review the PG&E POR model volume and pnce assumptions.

Perfit, Ryan 11/25/200'2 2.9 $215 $6223 50 Research transmission project expenses and approvals.

Perfit, Ryan 11/26/200 '2 7.9 $215 $1,6098 50 Revise Plan of Reorganization and Capital Expenditure modeling.

SubTotal: Perfit,Ryan 664 $14,276.00 Total: FinancialStatement Modehin 73.4 $18,177.00 Task Code: Financial St:atements Amaya, Jennifer 11/5/200 2 2.1 $27 5 $577.50 Research debt covenants respective to PG&E Corp and NGE to determine potential issues of cross collateralization.

SubTotal: Amaya, Jennifer 21 $57750 Kitchin, Jennifer 111 13/2002 08 $425 $340 00 Review 9/30/02 1OQ debt disclosure Kitchin, Jennifer 11/ 14/2002 2.3 $425 $977.50 Review 9/30/02 10Q SubTotal: Kitchin, Jennifer 3.1 $1,317.50 Lumsden, Tom 111113/2002 08 $595 $476 00 Listen to 3rd quarter earnings release conference call with analysts and PG&E.

Lumsden, Tom 11/1 1412002 19 $595 $1,130 50 Review press reports on PG&E 3rd Qtr results and review PG&E Form 10Q for disclosure on utility related items.

Lumsden. Tom 11/15/2002 02 $595 $119.00 Review press reports on PG&E NEG default.

SubTotal: Lumsden, Tom 2.9 $1,725 50 Sin, Theresa 11/8/2002 3.6 $185 $666 00 Research S&P and Moody's ratings for PGE Corp, NEG and Company debt. Pnnt out 10K and start review to break down FTI's Debt Summary worksheet.

Sin, Theresa 11/12/2002 1.6 $185 $296 00 Corp research - 8Ks, find new credit agreement.

Sin, Theresa 11/14/2002 04 $185 $74.00 Print out original Indenture on convertable sub notes.

Friday,December 20, 2002 Page25 of 32

.Professional Date Hours Billing.Rate Fees Description Sin, Theresa 11/14/2002 2.6 $185 $481.00 Read PGE Sept 30 1OQ Sin, Theresa 11/15/2002 2.1 $185 $388.50 Read terms of the Indenture for corp. debt summary.

Sin, Theresa 11/20/2002 2.1 $185 $388 50 Finish summary of Indenture for PGE Corp analysis.

SubTotal: Sin, Theresa 12.4 $Z294 00 Young, Allison 11/13/2002 0.5 $425 $212.50 Review estimate of current PROACT balance in 100 Young, Allison 11/13/2002 06 $425 $255.00 Review PG&E September 30 100.

Young, Allison 11/13/2002 0.7 $425 $297.50 Usten to replay of PG&E investor call on the September 30 100.

Young, Allison 11/15/2002 1.2 $425 $510 00 Review PG&E's 9/30/02 Q for updates on company's status.

Young, Allison 11119/2002 0.8 $425 $340 00 Review PG&E's 100 filings.

Young, Allison 11/20/2002 0.4 $425 $170.00 Continue review of PG&E's 9/30/02 10Q.

Young, Allison 11122/2002 0.6 $425 $255.00 Continue review of PG&E's 9 30.02 1OQ.

SubTotal: Young , Allison 4.8 $2,040.00 25.3 $7,954 50 Total: FinancialSt atements Task Code : General Committee Matters Ho, Rocky 11/7/2002 1.1 $475 $522.50 Partial attendance In full committee meeting to review regulatory status of debtor's plan.

Ho, Rocky 11/25/2002 0.9 $475 $427.50 Review vanous emails and correspondence from committee professionals I members.

Ho, Rocky 11/27/2002 0.6 $475 $285.00 Review various committee correspondences and emails re'status of case.

SubTotal: Ho, Rocky 2.6 $1,235.00 Kitchin, Jennifer 11119/2002 0.4 $425 $170.00 Review emails re: confirmation hearings Kitchin. Jennifer 11/20/2002 0.7 $425 $297.50 Review emails re: confirm hearings Kitchin. Jennifer 11/21/2002 06 $425 $255.00 Review emails re: confirm hearings SubTotal: Kitchin, Jennifer 1.7 $722.50 Lumsden, Tom 11/7/2002 35 $595 $2,082.50 Participate in creditors committee meeting held at FTI offices.

Friday,December 20, 2002 .Page 26of32

I Professional Date Hours Billing Rate Fees Description Lumsden, Tom 11/7/2002 05 $595 $297.50 Review agenda for creditors committee meeting and assemble materials for same.

Lumsden, Tom 11/15/2002 0.6 $595 $357.00 Telephone call with C.Strand re confirmation heanng schedule and information for new revolver under Joint Plan SubTotal: Lumsden, Tom 4.6 $Z,737 00 Reiss, Freddie 11/7/2002 25 $595 $1,487.50 Creditors committee meeting with debtors.

SubTotal: Reiss, Freddie 2.5 $1,487 50 Young, Allison 11/7/2002 1.7 $425 $722.50 Participate in OCC meeting with PG&E on status of their Plan.

SubTotal: Young, Allison 1.7 $722.50 Total: General Committee Matters 13.1 $6,904 50 Task Code : Legislative Review Ghazi, Maryam 11/11/2002 2.5 $425 $1,062.50 Review of supreme court documents dated 11/1/02, to determine how far back the law suit regarding the rate increase applies to Ghazi, Maryam 11/12/2002 16 $425 $680.00 Research legislative material as per Tom Lumsden's request.

Ghazi, Maryam 11/12/2002 4.4 $425 $1,870 00 Find copies of PU sections 701,728,1708,399 2, letter filed by FTCR on 11/5, Drews deposition, Federal Power Act section 203, Judge Walker ruling 7/25/02, CPUC decision from 11/7/02 Ghazi, Maryam 11/13/2002 2.1 $425 $892.50 Find legislative matenal for T. Lumsden's review.

PIER plan from 3/1101, PUC section 330-398 5 and documents in puc a 02-05-022.

Ghazl, Maryam 11/13/2002 1.9 $425 $807.50 Find legislative material for T. Lumsden's review:

ab890 SECT398, PUC decision 00-06-040 SubTotal: Ghazt, Maryam 125 $5,312.50 Lumsden, Tom 11/7/2002 03 $595 $178 50 Review press reports and emails on Prop D results re SF distnbution system SubTotal: Lurisden, Tom 03 $178.50 Total: Legislative Review 12.8 $5,491.00 Task Code: Plan of Reorganization/Negotiations

$617 50 Review debtor's expert witness model prepared by Ho, Rocky 11/1/2002 1.3 $475 SG Barr Devlin.

Friday,December 20, 2002 Page 27 of.32

- _Professional Date 'Houis Billing Rate Fees Description Ho, Rocky 11/1/2002 1.3 $475 $617.50 Review fraudulent transfer issues raised during Kosturos' deposition.

Ho, Rocky 11/1/2002 1.5 $475 $712.50 Review and analyze Kosturos' deposition re:administrative expenses as a priority claim in liquidation analysis.

Ho, Rocky 11/4/2002 0.6 $475 $285.00 Review notes from Walt Campbell deposition.

Ho. Rocky 1116/2002 1.8 $475 $855.00 Review and analyze Kosturos liquidation analysis re over-funded pension estimates and a comparative review to the debtor's 10Q.

Ho. Rocky 11/1412002 1.5 $475 $712.50 Review and analyze K Harvey deposition In support of debtor's plans Ho, Rocky 11/15/2002 1.1 $475 $522.50 Review and research Illinova quais reorg re:wnte-up of assets outside of bankruptcy.

Ho, Rocky 11115/2002 1.5 $475 $712.50 Review and analyze SOP 90-7 issues related to possible write-up of asset values.

Ho, Rocky 11/21/2002 1.1 $475 $522.50 Review and analyze debtor's expert report by Fetter.

Ho, Rocky 11/21/2002 I $475 $475.00 Review vanous correspondence re summary of tnal to date.

Ho, Rocky 11122/2002 1.1 $475 $522.50 Review and analyze issues related to debtor's expert witness exhibits (C McManus) re.TRA balance.

Ho, Rocky 11/25/2002 1.6 $475 $760.00 Review and analyze comparative assessment of debtor's April vs. Oct plan financials Ho. Rocky 11/25/2002 1.1 $475 $522.50 Review and analyze Fetter's expert report re.credit ratings.

Ho, Rocky 11/25/2002 1.1 $475 $522.50 Review draft capex analysis of debtor's POR.

Ho, Rocky 11/25/2002 09 $475 $427.50 Review debtor's April 2002 POR, Exhibit C projected financials.

Ho, Rocky 11/25/2002 08 $475 $380.00 Review and analyze draft presentation of capex for debtor's Apnl and October 2002 submitted PORs.

Ho, Rocky 11/26/2002 0.9 $475 $427.50 Review financial impact to utility's feasibility provided parent files for bankruptcy re:dividend restrictions.

Ho, Rocky 11/26/2002 0.8 $475 $380.00 Review and analyze K Harvey's expert testimony re debtor's POR and the CPUC's impact on the Filed Rate Doctrine case.

Ho, Rocky 11/26/2002 1.2 $475 $570 00 Review and analyze debtor's expert witness report of C McMannus re:TRA balancing account and its likely Impact on the Filed Rate Doctrine.

Ho, Rocky 11126/2002 1.1 $475 $522.50 Review credit agreement of parent and analyze cash flow Impact of NEG not being able to upstream dividends.

Ho, Rocky 11/26/2002 0.9 $475 $427.50 Review and analyze draft of capex assessment between Apnl 2002 and October 2002 PORs.

Friday,December 20, 2002 Page 28 of 32

Professional Date Hours Billing Rate Fees Description Professional Date Hours Billing Rate Fees Description Ho, Rocky 11/26/2002 08 $475 $380 00 Review and analyze debtor's motion for authority to procure net short.

Ho, Rocky 11/26/2002 12 $475 $570 00 Review, analyze and discuss with CPUC, TRA, headroom and other POR issues.

Ho, Rocky 11/26/2002 12 $475 $570 00 Review and analyze draft presentation re: projected cost by business unit and sensitivity analysis of return issues Ho. Rocky 11/26/2002 0.9 $475 $427 50 Review and analyze debtor's historical capex re:

electric and gas distnbution business.

Ho, Rocky 11/26/2002 2.1 $475 $997.50 Review and analyze expert witness testimonies of vanous debtor's experts on the different components of capex (generation, gas, electrical distnbution and others).

SubTotal: HO, Rocky 304 $14,440 00 Lumsden, Tom 11/6/2002 0.8 $595 $476 00 Review notes and matenals on K.Harvey deposition prepared by A.Young.

Lumsden, Tom 11/14/2002 0.8 $595 $476.00 Review W. Campbell deposition transcnpt and matenals for comments on changes to projections of PG&E for 2003 and beyond.

Lumsden, Tom 11115/2002 0.4 $595 $238.00 Review Judge Walker decision re refusal of stay on preemption decision. Review filing request Lumsden, Tom 11/16/2002 18 $595 $1,071 00 Review further detail of W. Campbell deposition schedules on PG&E plan projection updates. Review file on plan numbers and compare to pnor PG&E plan projections Lumsden, Tom 11/16/2002 0.6 $595 $357.00 Perform further review of K. Crews deposition.

Lumsden, Tom 11/20/2002 1.4 $595 $833.00 Review capex detail schedules provided by PG&E and sources of funding in PG&E Nov 2002 POR projections.

Lumsden, Tom 11/22/2002 12 $595 $714.00 Review exhibit C update for PG&E POR projections.

Compare to prior projections and dividend, capex and rate of return calculations.

SubTotal: Lumsden, Tom 7 $4,165 00 Perfit, Ryan 11/8/2002 0.2 $215 $43.00 Review Plan of Reorganization - analysis project requirements.

Perfit, Ryan 1111/2002 4.6 $215 $989 00 Review the November 2002 PG&E Plan of Reorganization for the Distribution Debtor entity.

Perfit, Ryan 11/11/2002 2.3 $215 $494.50 Continue to review the November 2002 PG&E Plan of Reorganization.

Perfit, Ryan 11/12/2002 45 $215 $967 50 Review the November 2002 PG&E Plan of Reorganization for the Electnc Transmission Debtor entity.

Friday,December 20, 2002 Page29 o.]32

_Professional Date " Hours Billing Rate Fees Description Professional Date Hours Billing Rate Fees Description Perfit, Ryan . 11/12/2002 32 $215 $688.00 Review the November 2002 PG&E Plan of Reorganization for the Gas Transmission Debtor entity.

Perfit, Ryan 11/12/2002 2.2 $215 $473.00 Continue to review the November 2002 PG&E Plan of Reorganization.

Perfit, Ryan 11/13/2002 4.5 $215 $967.50 Review the November 2002 PG&E Plan of Reorganization for the Generation Debtor entity.

Perfit, Ryan 11/14/2002 -1.3 $215 $279 50 Review the November 2002 PG&E POR model and document outstanding issues.

Perfit, Ryan 11115/2002 2.2 $215 $473.00 Contact PG&E and reconcile outstanding Issues in the November 2002 PG&E POR model.

Perfit, Ryan 11/15/2002 2.1 $215 $451.50 Continue to review the November 2002 PG&E POR model and document outstanding issues.

Perfit, Ryan 11/18/2002 4.7 $215 $1,010.50 Review the PG&E POR model assumptions.

Perfit, Ryan 11/21/2002 2.7 $215 $580.50 Review the Apnl POR presentation and update for the November POR Perfit, Ryan 11/21/2002 1.4 $215 $301.00 Continue to review the April POR presentation and update for the November POR Perfit, Ryan 11/22/2002 1.9 $215 $408.50 Continue to review the Apnl POR presentation and update for the November POR Perfit, Ryan 11/25/2002 3.5 $215 $752.50 Continue to review the Apnl POR presentation and update for the November POR.

Perfit, Ryan 11/25/2002 4.2 $215 $903.00 Reconcile the PG&E November POR to with information provided by UBS.

SubTotal: Perfit, Ryan 455 $9,782.50 Reiss, Freddii 11/11/2002 1.9 $595 $1,130.50 Review expert reports.

Reiss, Freddii 11/7/2002 2.6 $595 $1,547.00 Review expert reports.

SubTotal: Reiss, Freddie 4.5 $2,677.50 Young, Allison 11/1/2002 7.9 $425 $3,357.50 Participate in deposition of Kent Harvey Young, Allison 11/1/2002 0.5 $425 $212.50 Review depositions from Kent Harvey's first two days of testimony Young, Allison 11/4/2002 0.6 $425 $255.00 Review impact of Corporate or NEG bankruptcy on the ublity Young, Allison 1114/2002 04 $425 $170.00 Review updated financial models from SG Barr Young, Allison 111412002 0.6 $425 $255.00 Review and edit notes from Kent Harvey deposition Young, Allison 11/5/2002 08 $425 $340.00 Review transcript from Day 1 of Kent Harvey deposition Friday,December 20, 2002 Page 30 of32

Professional Date Hours BillingRate Fees Description Professional Date Hours Billing Rate Fees Description Young, Allison 1116/2002 12 $425 $510 00 Review and analyze Kusturos' liquidity analysis Young, Allison 11/7/2002 08 $425 $340.00 Review updates to PG&E POR projections Young, Allison 11/8/2002 0.4 $425 $170 00 Review updated POR assumptions Young, Allison 11/8/2002 0.4 $425 $170.00 Review 2nd day of testimony from Kent Harvey deposition Young, Allison 11/8/2002 0.8 $425 $340 00 Review Cap ex assumptions and vanances between PG&E's POR and the OCC/CPUC POR.

Young, Allison 11/11/2002 1.6 $425 $680.00 Review PG&E's updated POR projections.

Young, Allison 11/11/2002 1.9 $425 $807.50 Review impact of Corporate bankruptcy filing on PG&E POR.

Young, Allison 11/11/2002 16 $425 $680.00 Review Kostruros liquidation analysis for use against CPUC POR.

Young, Allison 11/12/2002 2.1 $425 $892 50 Analyze assumptions in Kosturos liquidation analysis.

Young, Allison 11/12/2002 1.3 $425 $552.50 Review cap ex projections in PG&E POR.

Young. Allison 11/1312002 0.8 $425 $340 00 Analyze latest POR projections.

Young, Allison 11/13/2002 27 $425 $1,147.50 Review updated POR projections.

Young, Allison 11/14/2002 03 $425 $127.50 Investigate tax impact on liquidation analysis.

Young, Allison 11/14/2002 0.4 $425 $170.00 Continue review of changed assumptions in PG&E POR.

Young, Allison 11114/2002 16 $425 $680 00 Continue review of updated POR projections and supporting details.

Young, Allison 11/15/2002 $425 $425 00 Review updated POR model assumptions and FTI staff analysis of projections.

Young, Allison 11115/2002 1.1 $425 $467.50 Review PG&E's tnal brief on its opposition to the CPUC POR.

Young, Allison 11/18/2002 09 $425 $382 50 Reconcile POR projections to histoncal cap ex levels.

Young, Allison 11/18/2002 0.9 $425 $382 50 Review updates to PG&E entity and consolidated entity valuation.

Young, Allison 11/18/2002 16 $425 $680 00 Review/search W. Campbell's deposition and exhibits for supporting data for the PG&E POR.

Young, Allison 11/18/2002 2.4 $425 $1,020 00 Analyze detail of PG&E's cap ex projections.

Young. Allison 11/1812002 3.2 $425 $1,360.00 Analyze changes between PG&E's Apnl and November POR projections for cap ex.

Young, Allison 11/19/2002 1.3 $425 $552.50 Review rate base assumptions used in PG&E POR and compare to histoncal average rate base.

Friday,December 20, 2002 Page 31 of32

Professional Date I Hours Billing Rate Fees Description Young, Allison 11/19/2002 06 $425 $255 00 Research costs to expand GTrans pipeline across the Oregon border and in what year that cost was incurred Young, Allison 11119/2002 0.7 $425 $297.50 Research transmission gnd expansion requirements noted in public arenas to compare to cap ex projections in PG&E's POR.

Young, Allison 11/21/2002 0.7 $425 $297.50 Discuss UBS financial model with Ben Lamb of UBS.

$425 Young. Allison 11/21/2002 1.1 $467.50 Review how both plans will fund cap ex.

$425 Young, Allison 11/2112002 1.3 $552.50 Create analysis of source of cap ex funding in PG&E's POR.

$425 Young, Allison 11/21/2002 1.5 $637.50 Review and summarize analysis performed on PG&E's cap ex projections.

$425 Young, Allison 11/22/2002 1.7 $722.50 Calculate rate in crease of Etrans due to Increase In "ratebase from high capital expenditures.

$425 Young, Allison 11122/2002 2.1 $892.50 Update analysis of cash to fund POR at risk from unfavorable ruling in FTCR v. Lynch.

$425 Young, Allison 11/25/2002 3.4 $1,445.00 QC analysis of funding of PG&E's planned capital expenditures.

Young, Allison 11/25/2002 38 $425 $1,615.00 Format analysis of funding of PG&E capital expenditures for court exhibit.

SubTotal: Young, Al/iso n 58 $24,650.00 145.4 $55. "715.00 Total: Plan of Reorganization/Nego Task Code: Subcommittee Matters Lumsden, Tom 11/4/2002 06 $595 $357.00 Review fee statements of professionals for Debtor and Committee In the case for Month of September.

0.6 357.00 SubTotal: Lumsden, Tom 357.00 Total: Subcommittee Matters 0.6 Task Code: Travel Time Reiss, Freddie 11/7/2002 1.5 $595 $892.50 Travel to Los Angeles.

.1.5 892.50 SubTotal: Reiss, Freddie 1.5 $892.50 Total: Travel Time Total Project: F-933.81 S$368,048.00 Friday,December20, 2002 Page32 of32

Exhibit 1 Pacific Gas and Electric Summary of Time By Professional For the Period November 1, 2002 Through November 30, 2002 Professional Title Time Total Billing Rate Fee Total Agam, Amir Consultant 24.6 290 $7,134 Amaya, Jennifer Consultant 43.2 275 $11,880 Ghazi, Maryam Director 46.3 425 $19,678 Ho, Rocky Managing Director 118.1 475 $56,098 Iking, Floris Consultant 7.4 290 $2,146 Kim, Angela Paraprofessional 29.0 55 $1,595 Kitchin, Jennifer Director 78.1 425 $33,193 Lumsden, Tom Sr. Managing Director 167.5 595 $99,663 Perfit, Ryan Associate 116.4 215 $25,026 Reiss, Freddie Sr. Managing Director 41.7 595 $24,812 Sin, Theresa Associate 101.3 185 $18,741 Young, Allison Director 158.8 425 $67,490 Yozzo, John Director 1.4 425 $595 Totals 933.8 $368,048 Page 1 of 1

Exhibit 2-2 Pacific Gas and Electric Detail of Expenses November 1, 2002 through November 30,2002 Name Date Category Amount Description FTI Consulting 11112/2002 Sundry $61.80 Photocopies - Celerity Consulting Group /Documents copied from data room for PG&E on 11112102 FTI Consulting 11113/2002 Sundry $500.00 - Electronic Data - Platts M&A Data Files FTI Consulting 11/27/2002 Sundry $515.24 Pitney Bowes Management Services postage fees for Oct fee application not billed previously.

Lumsden, Tom 11/7/2002 Business Meals & Entertainment $296.21 Catering for the PG&E meeting on "11/7/02 Lumsden, Tom 11/7/2002 Business Meals & Entertainment $100.00 Dinner out of town with J. Herbert and M. Hamilton regarding PG&E (total bill $335.17)

Lumsden, Tom 11/1112002 Sundry $123.00 cell phone charge for PG&E Lumsden, Tom 11/1812002 Business Meals & Entertainment $224 22' Working lunch meeting for PG&E with T. Lumsden, J. Herbert, K. Gain. and M. Hamilton, R. Ho.

Lumsden, Tom 11/22/2002 Business Meals & Entertainment $123.15 Working lunch meeting on PG&E with M. Hamilton, R. Ho, T, Lumsden, J.

Wilson Reiss, Freddie 11/6/2002 Transportation $40.00 Taxi from SFO to hotel.

Reiss, Freddie 11/712002 Business Meals & Entertainment $8 00 Breakfast while out of town.

Reiss, Freddie 11/7/2002 Transportation $30 00 Parking at LAX (1/2 of charge - $60 total for 2 days)

Reiss, Freddie 11/7/2002 Transportation $40.00 Taxi from San Francisco to SFO.

Reiss, Freddie $50.00 Travel service fee - UA 11/7/2002 Transportation

1. 0167312978117 Reiss, Freddie 11/7/2002 Transportation $16500 UA #0167312978117 Young, Allison 11122/2002 Sundry $21.62 PG&E cell phone charges.

$2,298.24 2002 Page 1 of)

Friday, December20, Friday, December 20, 2002 PageI of I

PROOF OF SERVICE STATE OF CALIFORNIA, COUNTY OF SAN FRANCISCO I am employed in the County of San Francisco, State of California. I am over the age of 18 and not a party to the within action; my business address is 199 Fremont Street, 8h Floor, San Francisco, California.

On December 30, 2002, I served on the parties listed on the attached Service List, the foregoing document(s) described as:

FTI CONSULTING INC. COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF EXPENSES FOR NOVEMBER 1, 2002 TO NOVEMBER 30, 2002 X by placing the _ original X a true copy thereof enclosed in sealed envelopes addressed as stated on the attached service list:

(BY UPS OVERNIGHT DELIVERY)

X Following ordinary business practices at the San Francisco office of PricewaterhouseCoopers LLP, I placed the sealed envelope(s) for collection and mailing with Federal Express on that same day. I am readily familiar with the firm's practice for collection and processing of correspondence for mailing. Under that practice, such correspondence would be deposited with Federal Express on that same day, with postage thereon fully prepaid at San Francisco, California, in the ordinary course of business.

(FEDERAL) I declare that I am employed in the office of a member of the bar of this court at whose direction the service was made.

Executed on September 3, 2002 San Francisco, California.

Catherine Dolan , Q"*,*\  %

Type or Print Name Signature 12/30/02 9 44 AM

Proof of Service by UPS Next Day Air James L. Lopes, Esq.

Office of the U.S. Trustee Howard, Rice, Nemerovski, Canady, Falk & Rabkin Attn: Stephen Johnson Three Embarcadero Center, 7th Floor 250 Montgomery Street, Suite 1000 San Francisco, CA 94111-4065 San Francisco, CA 94104-3401

[Counsel to Debtor]

Robert Jay Moore Paul S. Aronzon Milbank, Tweed, Hadley & McCloy LLP 601 South Figueroa Street Los Angeles, CA 90017 .

--[Counsel for Official Committee of Unsecured Creditors]

PROOF OF SERVICE STATE OF CALIFORNIA, COUNTY OF SAN FRANCISCO I am employed in the County of San Francisco, State of California. I am over the age of 18 and not a party to the within action; my business address is 199 Fremont Street, 8"' Floor, San Francisco, California.

On December 30, 2002, I served on the parties listed on the attached Service List, the foregoing document(s) without exhibits described as:

FTI CONSULTING INC. COVER SHEET APPLICATION FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF EXPENSES FOR NOVEMBER 1, 2002 TO NOVEMBER 30, 2002 X by placing the _ original X a true copy thereof enclosed in sealed envelopes addressed as stated on the attached service list:

(BY MAIL)

X Following ordinary business practices at the San Francisco office of PricewaterhouseCoopers LLP, I placed the sealed envelope(s) for collection and mailing with the United States Postal Service on that same day. I am readily familiar with the firm's practice for collection and processing of correspondence for mailing. Under that practice, such correspondence would be deposited with the Umted States Postal Service on that same day, with postage thereon fully prepaid at San Francisco, California, in the ordinary course of business.

(FEDERAL) I declare that I am employed in the office of a member of the bar of this court at whose direction the service was made.

Executed on November 26, 2002 San Francisco, California.

Catherine Dolan YAP 7i- 2\

Type or Print Name Signature 12/30/02 9 45 AM