New Delhi: CURRENTLY HAVE SEVERAL POWER PLANTS THAT PROVIDE ENERGY AND ENERGY-RELATED PRODUCTS TO PG&E UNDER PPAS

CALPINE CORP SAYS SINCE PG&E'S BANKRUPTCY FILING, CO HAS RECEIVED ALL MATERIAL PAYMENTS UNDER PPAS

CALPINE - ALSO CURRENTLY HAVE NUMEROUS OTHER AGREEMENTS WITH PG&E RELATED TO OPERATION OF POWER PLANTS IN NORTHERN CALIFORNIA

CALPINE - DUE TO PG&E'S BANKRUPTCY, UNABLE TO MAKE DISTRIBUTIONS FROM RUSSELL CITY, LOS ESTEROS PROJECTS AS PER TERMS OF PROJECT DEBT AGREEMENTS

CALPINE - PLANTS THAT SELL ENERGY, ENERGY-RELATED PRODUCTS TO PG&E , INCLUDE RUSSELL CITY ENERGY CENTER AND LOS ESTEROS CRITICAL ENERGY FACILITY

CALPINE-AS OF DEC 31, BALANCE SHEET HAD $1.1 BILLION, $504 MILLION IN NET LONG LIVED ASSETS, NON-RECOURSE PROJECT FINANCE DEBT ASSOCIATED WITH 2 POWER PLANTS

CALPINE - IF PG&E DOES NOT ASSUME PPAS THROUGH BANKRUPTCY PROCEEDINGS, CO WILL SEE A DEFAULT UNDER RUSSELL CITY, LOS ESTEROS PROJECT DEBT AGREEMENTS