Part 4


                                                   UNITED STATES
                                        SECURITIES AND EXCHANGE COMMISSION
                                               Washington, DC 20549





                                                    FORM U-3A-2
                                                  File No. 69-344

                                           Statement by Holding Company
                                       Claiming Exemption Under Rule U-3A-2
                                            from the Provisions of the
                                    Public Utility Holding Company Act of 1935



                                       To Be Filed Annually Prior to March 1



                                               EDISON INTERNATIONAL
                                                 (Name of Company)





hereby files with the Securities and Exchange Commission, pursuant to Rule 2, its statement claiming exemption as
a holding company from the provisions of the Public Utility Holding Company Act of 1935, and submits the
following information:



1


1.  NAME, STATE OF ORGANIZATION, LOCATION AND NATURE OF BUSINESS OF CLAIMANT AND EVERY SUBSIDIARY THEREOF, OTHER
THAN ANY EXEMPT WHOLESALE GENERATOR (EWG) OR FOREIGN UTILITY COMPANY IN WHICH CLAIMANT DIRECTLY OR INDIRECTLY
HOLDS AN INTEREST.


                                                  HOLDING COMPANY
                                                  ---------------

00     EDISON INTERNATIONAL is a corporation organized under the laws of the State of California and having its
       principal place of business at 2244 Walnut Grove Avenue (P.O. Box 999), Rosemead, California 91770.  It
       was organized principally to acquire and hold securities of other corporations for investment purposes.
       Edison International has the following subsidiaries:

                                               UTILITY SUBSIDIARIES
                                               --------------------

01     SOUTHERN CALIFORNIA EDISON COMPANY ("SCE") is a California corporation having its principal place of
       business at 2244 Walnut Grove Avenue (P.O. Box 800), Rosemead, California 91770.  SCE is a public utility
       primarily engaged in the business of supplying electric energy to portions of central and southern
       California, excluding the City of Los Angeles and certain other cities.  Unless otherwise indicated, its
       subsidiaries have the same principal place of business as Southern California Edison Company:

02        CALIFORNIA ELECTRIC POWER COMPANY (inactive).

02        CONSERVATION FINANCING CORPORATION is a California corporation engaged in the remediation and
          mitigation of environmental liabilities.

02        EDISON ESI is a California corporation engaged in the business of marketing services, products,
          information, and copyrighted materials to third parties on behalf of SCE.

02        Edison Material Supply is a Delaware limited liability company that provides procurement, inventory and
          warehousing services.

02        MONO POWER COMPANY is an inactive California corporation that has been engaged in the business of
          exploring for and developing fuel resources.

03            The Bear Creek Uranium Company is an inactive California partnership between Mono Power Company
              (50%) and Union Pacific Resources (50%) that has been engaged in reclamation of an integrated
              uranium mining and milling complex in Wyoming.

02        SCE CAPITAL COMPANY (inactive Delaware corporation).

02        SCE Funding LLC is a Delaware limited liability company that acts as a financing vehicle for rate
          reduction bonds.

02        SCE Trust I is a Delaware business trust organized to act as a financing vehicle.

02        SCE Trust II is a Delaware business trust organized to act as a financing vehicle.

02        SCE UK Services Ltd. is a United Kingdom private limited company having its registered office at
          Lansdowne House, Berkeley Square, London, England W1X 5DH, which provides auditing services for
          affiliated companies.

02        SOUTHERN STATES REALTY is a California corporation engaged in holding real estate assets for SCE.



2


                                              NONUTILITY SUBSIDIARIES
                                              -----------------------

01     EDISON DRIVES ELECTRIC is a California corporation having its principal place of business at 2244 Walnut
       Grove Avenue, Rosemead, California 91770, which is engaged in administering a vehicle lease program for
       Edison International employees.

01     EDISON ENERGY (inactive)

01     EDISON INSURANCE SERVICES, INC., is a Hawaii corporation having its principal executive office at 1099
       Alakea Street, 22nd Floor, Honolulu, Hawaii 96813, which provides domestic and foreign property damage and
       business interruption insurance to Edison International and its subsidiaries.

01     EDISON INTERNATIONAL POWER (inactive)

01     EDISON VENTURES is a California corporation having its principal place of business at 2244 Walnut Grove
       Avenue, Rosemead, California 91770, which owns the stock and coordinates the activities of its nonutility
       subsidiaries.  The subsidiaries of Edison Ventures are as follows:

02        EDISON TRANSENERGY is a California corporation having its principal place of business at 2244 Walnut
          Grove Avenue, Rosemead, California 91770, which is engaged in pipeline development activities to
          transport crude oil.

01     EIX Trust I is a Delaware business trust that acts as a financing vehicle.

01     EIX Trust II is a Delaware business trust that acts as a financing vehicle.

01     EIX Trust III is a Delaware business trust organized to act as a financing vehicle.

01     THE MISSION GROUP is a California corporation having its principal place of business at 2244 Walnut Grove
       Avenue, Rosemead, California 91770, which owns the stock and coordinates the activities of nonutility
       companies.  The subsidiaries of The Mission Group are as follows:

02        EDISON ENTERPRISES is a California corporation having its principal place of business at 2244 Walnut
          Grove Avenue, Rosemead, California 91770, which owns the stock and coordinates the activities of its
          nonutility subsidiaries.  The subsidiaries of Edison Enterprises are as follows:

03            EDISON SOURCE is a California corporation having its principal place of business at 18101 Von
              Karman Avenue, Suite 1700, Irvine, California 92612-1046, which owns the stock of its
              subsidiaries.  The majority of the assets of Edison Source were sold to its former management in
              October 2001.

04               Edison Source Norvik Company is a Canadian company having its principal place of business at
                 1959 Upper Water Street, Suite 800, Halifax, NS B3J 2X2.  It is engaged in the business of
                 providing rapid battery charging technology for the electric fork lift market.

04               G.H.V. REFRIGERATION, INC. is an inactive California corporation having its principal place of
                 business at 2244 Walnut Grove Avenue, Rosemead, California 91770.

03            EDISON SELECT was a California corporation that had its principal place of business at 955 Overland
              Court, San Dimas, California 91773.  It was engaged in the business of providing consumer products
              and services.  This entity and its subsidiaries were sold to Tyco International Ltd./ADT Security
              Services, Inc. in August 2001.

04               EDISON HOME PROTECTION COMPANY (Inactive)

04               SELECT HOME WARRANTY COMPANY (Inactive)

04               EDISON SECURITY CORP. [formerly Westec Residential Security, Inc.] was a Delaware corporation
                 that had its principal place of business at 955 Overland Court, San Dimas, California 91773.  It
                 was engaged in the business of providing home security services.


3



04               VALLEY BURGLAR & FIRE ALARM CO., INC. was a California corporation that had its principal place
                 of business at 955 Overland Court, San Dimas, California 91773.  It was engaged in the business
                 of providing home security services.

03            EDISON UTILITY SERVICES was a California corporation that had it principal place of business at 955
              Overland Court, San Dimas, California 91773.  It was engaged in the business of providing services
              including billing and transmission and distribution outsourcing.  This entity was sold to SRM-ENCO
              LLC in January 2001.

02        EDISON ENVIRONMENTAL SERVICES is an inactive California corporation having its principal place of
          business at 2244 Walnut Grove Avenue, Rosemead, California 91770.

02        EDISON O&M SERVICES is a California corporation having its principal place of business at 1321 South
          State College Boulevard, Fullerton, California 92831, that provides generation operation and
          maintenance services.

02        EDISON TECHNOLOGY SOLUTIONS ("ETS") is an inactive California corporation having its principal place of
          business at 2244 Walnut Grove Avenue, Rosemead, California 91770.  The subsidiaries of Edison
          Technology Solutions are as follows:

03            EDISON EV is an inactive California corporation having its principal place of business at 2244
              Walnut Grove Avenue, Rosemead, California 91770.

03            FACILICHEM, INC., is a California corporation having its principal place of business at 333
              Ravenswood Avenue, Menlo Park, California 94025, which was organized to engage in the research,
              development and commercialization of liquid membrane technologies for application in specific
              industrial and chemical processes.  ETS has a 10% ownership interest with an option to increase
              that interest to 16.66%


02        EDISON CAPITAL is a California corporation having its principal place of business at 18101 Von Karman
          Avenue, Suite 1700, Irvine, California 92612-1046.  It is engaged in the business of leveraged-leasing
          transactions and other project financings, either directly or through subsidiaries.  Edison Capital
          owns a group of subsidiaries and has interests in various partnerships through its subsidiaries.  The
          subsidiaries and partnerships of Edison Capital are listed below. Unless otherwise indicated, all
          entities are corporations, are organized under the laws of the State of California, and have the same
          principal place of business as Edison Capital.

03     BURLINGTON APARTMENTS, INC.
03     Edison Capital Europe Limited (UK corporation)
       Address:  Lansdowne House, Berkeley Square, London, England W1X 5DH
03     EDISON CAPITAL VENTURES
03     EDISON FUNDING COMPANY
       [directly owns 0.08% of Edison Funding Omicron Incorporated; see listing under Edison Housing
       Consolidation Company)
04        EDISON CAPITAL HOUSING INVESTMENTS
          [directly owns 0.35% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
          [directly owns 35.52% of Edison Funding Omicron Incorporated; see listing under Edison Housing
          Consolidation Co.]
05            1st Time Homebuyer Opportunities LP (Chester County Homes) 99%
05            1732 Champa LP (Buerger Brothers Lofts) 99%
05            18303 Kittridge Associates LP 99%
05            210 Washington Avenue Associates (Renaissance Plaza) (Connecticut partnership) 99%
05            2400 Locust Associates LP (Locust on the Park) 99%
05            3790 Wisconsin Street Partners LP (Wisconsin III) 99.9%
05            Argyle Redevelopment Partnership, Ltd. (Colorado partnership) 99%


4


05            Auburn Manor L.L.C. 50%
05            Bartlett Hill Associates LP 99%
05            CCS/Bellingham LP (Washington Grocery Building) 99%
05            Cincinnati Ravenwood Apartments LP 99%
05            Conejo Valley Community Housing Associates (Community House Apartments) 99%
05            EAST COAST CAPITAL, INC. (Massachusetts corporation)
              Address:  240 Commercial Street, Boston, MA 02109-1336
05            EC ASSET SERVICES, INC. (Massachusetts corporation)
              Address:  240 Commercial Street, Boston, MA 02109-1336
05            EC PROPERTIES, INC. (Massachusetts corporation)
              Address:  240 Commercial Street, Boston, MA 02109-1336
06               Corporations for Affordable Housing LP 1%GP
07                  Arbor Lane Associates Phase II LP (Timberwood) 99%
07                  Arroyo Vista Associates LP 99%
07                  Artloft Associates LP 35.6%
07                  Caleb Affordable Housing Associates LP (Ledges/Pinebrook) 99%
07                  The Carlin LP 99%
07                  Diamond Phase III Venture LP 99%
07                  Fairmont Hotel Urban Renewal Associates LP 99%
07                  Mackenzie Park Associates LP 99%
07                  Parkside Associates LP (Parkside Garden) 99%
07                  Pines Housing LP 99%
07                  Pines Housing II, LP 99%
07                  Smyrna Gardens Associates LP 99%
07                  Tioga Gardens LP 99%
07                  Walden Pond, LP (Hamlet) 99%
06               Corporations for Affordable Housing LP II 1%GP
07                  2601 North Broad Street Associates LP (Station House) 99%
07                  Artloft Associates LP 53.39%
07                  Brookline Housing Associates LLC (Bridgewater) 99%
07                  EDA LP (Eagle's Nest) 99%
07                  Edgewood Manor Associates II LP 99%
07                  Gateway Housing LP (Gateway Townhomes) 99%
07                  Homestead Village Associates LP 99%
07                  Junction City Apartments LP (Green Park) 99%
07                  Liberty House Associates LP 99%
07                  Maple Ridge Development Associates LP 99%
07                  Parsonage Cottage Senior Residence LP 99%
07                  Rittenhouse School LP 99%
07                  Silver City Housing LP 99%
07                  South 55th Street, LP 99%
07                  W. M. Housing Associates LP (Williamsport Manor) 99%
07                  Winnsboro Apartments LP (Deer Wood) 99%
05            EC PROPERTIES III, INC. (Massachusetts corporation)
              Address:  240 Commercial Street, Boston, MA 02109-1336
06               Corporations for Affordable Housing LP III 1%GP
07                  Piedmont Housing Associates 99%
07                  Pines Housing III 99%
07                  Salem Lafayette Urban Renewal Associates, LP 99%
07                  Spring Valley Commons LP 99%
07                  Stevenson Housing Associates (Park Vista) 99%
05            EC-SLP, INC. (Massachusetts corporation)
              Address:  240 Commercial Street, Boston, MA 02109-1336
05            ECHI-A COMPANY
05            ECHI-B COMPANY
05            ECHI Wyvernwood, Inc.
05            ECH/HFC GP Partnership No. 1 34.9%GP
06               Edison Capital Housing Partners VII LP 19.4%GP
07                  C-Court LP (Cawelti Court) 99%
07                  Cottonwood Affordable Housing LP 99%


5


07                  Fifth and Wilshire Apartments LP 99%
07                  Flagstaff Affordable Housing II, LP (Forest View Apts.) 99%
07                  Huff Avenue Associates LP 99%
07                  Mountain View Townhomes Associates LP 99%
07                  Oak Forest Associates LP 99%
07                  Paradise Road Partners LP (Gateway Village) 99%
07                  Woodland Arms Apartments, Ltd. 99%
05            ECH/HFC GP Partnership No. 2 56.7%GP
06               Edison Capital Housing Partners VIII LP 18.54%GP
07                  Catalonia Associates LP 99%
07                  Ohlone Housing Associates LP 99%
05            ECHP INVESTMENT COMPANY
06               ECHP LLC
07                  Edison Capital Housing Partners XVI LP 0.01%GP
08                      Bouquet Canyon Seniors LP 99%
08                      Diamond Creek Apartments LP 99.9%
08                      Eugene Hotel LP 99.9%
08                      Hilltop Farms LP 99.9%
08                      KDF Park Glenn LP (Park Glenn) 99%
08                      KDF Park Glenn Seniors LP (Park Glenn II) 99.9%
08                      King Road Associates LP 99.9%
08                      LL Housing LP (Maryland partnership) (Laurel Lakes) 99%
08                      Red Lake LP #1 99%
08                      San Martin de Porres LP 99.9%
08                      Southern Hotel LP 99.9%
08                      Terra Cotta Housing Associates LP 99.9%
07                  Edison Capital Housing Partners XVII LP 0.01%GP
08                      Antelope Associates LP 99%
08                      Baker Park Associates LP 99%
08                      Fremont Building LP (Crescent Arms) 99%
08                      Hercules Senior Housing Associates 99.9%
08                      La Terraza Associates LP (Carlsbad Villas at Camino Real) 99%
08                      Parkview Apartments Associates LP (Parkview/Sunburst) 99.9%
08                      Quebec Arms Apartments LP 99.9%
08                      Sky Parkway Housing Associates LP 99%
08                      Sunset Creek Partners LP 99%
08                      University Manor Apartments LP 99.9%
08                      Vista Verde Housing Associates LP 99.9%
07                  Edison Capital Housing Partners XVIII LP 0.01%GP
08                      Aaron Michael Associates LP 99.9%
08                      Bracher Associates LP 99%
08                      Florin Woods Associates LP 99%
08                      Lovejoy Station LP 99.9%
08                      OL Hope LP (Olympic Hope) 99.9%
08                      Palmer Heights, LLC 99
08                      Pinmore Associates LP 99%
08                      SD Regency Centre LP 99.9%
07                  Edison Capital Housing Partners XIX LP 0.01%GP
08                      Cochrane Village Apartments LP 99%
08                      CCS/Mount Vernon Housing LP (La Venture) 99%
08                      Ontario Senior Housing LP (Ontario Plaza) 99%
08                      Pecan Court Associates LP 99.9%
08                      Pellettieri Homes Urban Renewal Associates, LP 99%
08                      Rincon De Los Esteros Associates LP 99%
08                      KDF Santa Paula LP (Santa Paula) 99%
08                      Schoolhouse Court Housing Associates LP 99.9%
08                      Virginia Lane LP 99.9%
08                      Winfield Hill Associates LP 99%
05            EDISON CAPITAL AFFORDABLE HOUSING 97 V
05            EDISON CAPITAL AFFORDABLE HOUSING 97 VI


6


05            EDISON CAPITAL AFFORDABLE HOUSING 97 VII
05            EDISON CAPITAL AFFORDABLE HOUSING 97 VIII
05            EDISON CAPITAL AFFORDABLE HOUSING 99A COMPANY
05            Edison Capital Affordable Housing 99A G.P. 27.69%GP
06               Edison Capital Housing Partners IX LP 13.5533%GP
07                  1010 SVN Associates LP 99.9%
07                  2814 Fifth Street Associates LP (Land Park Woods) 99%
07                  Alma Place Associates LP 99%
07                  Knolls Community Associates LP 99.9%
07                  Monterra Village Associates LP 99%
07                  Pacific Terrace Associates LP 99.9%
07                  PVA LP (Park Victoria) 99%
07                  Sherman Glen, L.L.C. 99%
07                  Strobridge Housing Associates LP 99%
07                  Trolley Terrace Townhomes LP 99.9%
07                  Walnut Avenue Partnership LP 99%
05            EDISON CAPITAL AFFORDABLE HOUSING 99B COMPANY 99.99%
05            Edison Capital Affordable Housing 99B G.P. 99.99%GP
06               Edison Capital Housing Partners X LP 19.3952%GP
07                  Beacon Manor Associates LP 99.9%
07                  Boulder Creek Apartments LP 99.9%
07                  Burlington Senior Housing LLC 99.9%
07                  CCS/Renton Housing LP (Renton) 99.9%
07                  Coolidge Station Apartments L.L.C. 99%
07                  Lark Ellen LP 99%
07                  Mercy Housing California IX LP (Sycamore) 99.9%
07                  Morgan Hill Ranch Housing LP 99%
07                  Pacifica Community Associates LP (Villa Pacifica) 99.9%
07                  Persimmon Associates LP 99%
07                  Providence-Brown Street Housing LP (Brown Street) 99.9%
07                  San Juan Commons 1996 LP 99.9%
07                  Timber Sound, Ltd. 99%
07                  Timber Sound II, Ltd. 99%
07                  Trinity Park Apartments LP 99.9%
07                  Venbury Trail LP 99.9%
06               Edison Capital Housing Partners XI LP 18.62486%GP
07                  1475 167th Avenue Associates LP (Bermuda Gardens) 99.9%
07                  Auburn Manor Apartments LP 99.9%
07                  Barnsdall Court LP (Villa Mariposa) 99%
07                  Borregas Court LP 99%
07                  Bryson Family Apartments LP 99.9%
07                  Carson Housing LP 98%
07                  Casa Rampart LP (Rampart Apartments) 98.9%
07                  Davis MHA Twin Pines Community Associates LP (Northstar Apartments) 99%
07                  Eastwood Homes LP 99%
07                  Electra Arms Senior Associates LP 99%
07                  Grace Housing LP 99%
07                  Stony Point Apartment Investors LP (Panas Place) 99.9%
07                  Wall Street Palmer House LP 99%
07                  Wilmington Housing Associates LP (New Harbor Vista) 99.9%
06               Edison Capital Housing Partners XII LP 13.73759%GP
07                  Cedarshores Limited Dividend Housing Association LP 98.99%
07                  Heritage Partners LP 99%
07                  Osage Terrace LP 99.89%
07                  West Oaks Apartments LP 99.9%
07                  Yale Street LP 99.9%
06               Edison Capital Housing Partners XIII LP 17.03513%GP
07                  Alhambra Apartments LP 99.9%
07                  Chamber Apartments LP 99%
07                  Park Land Senior Apartments Investors LP (Banducci) 99.9%


7


07                  President John Adams Manor Apartments LP 99.9%
07                  Riverwalk Apartments, Ltd. (Colorado) 99%
07                  Rosecreek Senior Living LP 99.9%
07                  Twin Ponds Apartments LP 99.9%
07                  Woodleaf Village LP 98.99%
07                  Women's Westlake LP (Dorothy Day) 99%
06               Edison Capital Housing Partners XIV LP 7.61%GP
07                  Apollo Development Associates LP (Apollo Hotel) 99.9%
07                  Carson Terrace LP 99.9%
07                  Don Avante Association II LP (Village Avante) 99.9%
07                  Preservation Properties I 99.9%
07                  Preservation Properties II 99.9%
07                  Preservation Properties III 99.9%
07                  Preservation Properties IV 99.9%
07                  Preservation Properties V 99.9%
07                  Rowland Heights Preservation LP 99.9%
07                  Springdale Preservation LP (Springdale West) 99.9%
06               Edison Capital Housing Partners XV LP 9.567%GP
07                  708 Pico LP (Wavecrest Apartments) 99.9%
07                  Benton Green LP 99.9%
07                  Don Avante Association I LP (Don de Dios) 99.9%
07                  Emmanuel Grant Company LLC (Capitol Heights) 99.9%
07                  Highland Village Partners LP 99.9%
07                  I.G. Partners LP (Islands Gardens) 99.9%
07                  Karen Partners LP 99.9%
07                  Lilac Estates LP 99.9%
07                  Mountainlands Housing Partners LP (Holiday Village Apartments) 99.9%
07                  NAHF Brockton LP (Southfield Gardens) 99.9%
07                  Northern Senior Housing LP (St. Johnsbury) 99.9%
07                  Park Place 1998, LLC 99.9%
07                  Park Williams Partners LP 99.9%
07                  Patriots Pointe at Colonial Hills LP 99.9%
07                  PlumTree Preservation LP 99.9%
07                  Poinsettia Housing Associates 99.9%
07                  Project Home I LLC 99.99%
07                  Saratoga Vacaville LP (Saratoga Senior) 99.9%
07                  Serena Sunbow LP (Villa Serena) 99.9%
07                  St. Regis Park LP (Pear Tree) 99.9%
07                  Vista Sonoma Senior Living LP 99.9%
07                  Westfair LLC (Cedar Ridge) 99.9%
07                  Windrush Apartments of Statesville LP 99.9%
07                  Wingate LLC (Regency Park) 99.9%
05            Edison Capital Contributions VI Partners 91.77%GP
06               ECH Investor Partners VI-A LP 15.39%GP
07                  Edison Capital Housing Partners VI LP 61.82%GP
08                      Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
08                      Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
08                      Altamont Hotel Associates LP 99%
08                      Bradley Manor Senior Apartments LP 99%
08                      Double X Associates 1995 LP (Terrace Manor) 99%
08                      Hamilton Place Apartments LP (Larkin Place) 99%
08                      Hamilton Place Senior Living LP 99%
08                      Hearthstone Group 3 LP (Evergreen Court) 99%
08                      KDF Malabar LP 99%
08                      LINC-Bristol Associates I, LP (City Gardens) 99%
08                      MAS-WT, LP (Washington Terrace) 99%
08                      Northwood Manor Associates LP 99%
08                      Silver Lake Properties LP 99%
08                      University Park Properties LP 99%
08                      Upland Senior Housing LP (Coy D. Estes) 99%


8


08                      Vista Properties LLC (Vista View) 99%
08                      Vista Verde Townhomes II LLC 99%
06               ECH Investor Partners VI-B LP 100%GP
07                  Edison Capital Housing Partners VI LP 37.18%GP
08                      Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
08                      Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
08                      Altamont Hotel Associates LP 99%
08                      Bradley Manor Senior Apartments LP 99%
08                      Double X Associates 1995 LP (Terrace Manor) 99%
08                      Hamilton Place Apartments LP (Larkin Place) 99%
08                      Hamilton Place Senior Living LP 99%
08                      Hearthstone Group 3 LP (Evergreen Court) 99%
08                      KDF Malabar LP 99%
08                      LINC-Bristol Associates I, LP (City Gardens) 99%
08                      MAS-WT, LP (Washington Terrace) 99%
08                      Northwood Manor Associates LP 99%
08                      Silver Lake Properties LP 99%
08                      University Park Properties LP 99%
08                      Upland Senior Housing LP (Coy D. Estes) 99%
08                      Vista Properties LLC (Vista View) 99%
08                      Vista Verde Townhomes II LLC 99%
05            EDISON CAPITAL HOUSING DELAWARE, INC.
06               B.A.I. Edison Ravenwood LP (Ravenwood) 90%GP
07                  Cincinnati Ravenwood Apartments LP 0.1%GP
05            Edison Capital Housing Partners V LP 100%GP
06               AMCAL Santa Barbara Fund XXXVI LP (Positano) 99%
06               Bodega Hills Investors LP 99%
06               Mercy Housing California IV LP (Vista Grande) 99%
06               Park Place Terrace LP 99%
06               River Walk Apartments Homes LP 99%
06               San Diego Golden Villa Partners LP (Golden Villa) 99%
06               Santa Alicia Gardens Townhomes LP (The Gardens) 99%
06               St. Hedwig's Gardens LP 99%
06               Sunshine Terrace LP 99%
06               Union Meadows Associates LLC 99%
05            EDISON CAPITAL HOUSING FLORIDA
05            EDISON CAPITAL HOUSING MANAGEMENT
05            EDISON CAPITAL HOUSING NEW JERSEY
              [owns 6.16% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05            EDISON CAPITAL HOUSING NEW YORK
06               WPA/Edison LLC (Pier A) 99%
05            EDISON CAPITAL HOUSING PENNSYLVANIA
              [owns 5.26% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05            EDISON FUNDING OMICRON INCORPORATED (Delaware corporation) (formerly Edison Funding Omicron GP)
              55.52% [also owned 0.08% by Edison Funding Company and 44.40% by Edison Housing Consolidation Co.]
06               EDISON FUNDING OLIVE COURT 100%
07                  Olive Court Housing Associates LP 0.6%
05            EDISON HOUSING NORTH CAROLINA
06               Edison Capital Contributions VI Partners 4.03%
07                  ECH Investor Partners VI-A LP 15.39%GP
08                      Edison Capital Housing Partners VI LP 61.82%GP
09                         Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
09                         Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
09                         Altamont Hotel Associates LP 99%
09                         Bradley Manor Senior Apartments LP 99%
09                         Double X Associates 1995 LP (Terrace Manor) 99%
09                         Hamilton Place Apartments LP (Larkin Place) 99%
09                         Hamilton Place Senior Living LP 99%
09                         Hearthstone Group 3 LP (Evergreen Court) 99%


9


09                         KDF Malabar LP 99%
09                         LINC-Bristol Associates I, LP (City Gardens) 99%
09                         MAS-WT, LP (Washington Terrace) 99%
09                         Northwood Manor Associates LP 99%
09                         Silver Lake Properties LP 99%
09                         University Park Properties LP 99%
09                         Upland Senior Housing LP (Coy D. Estes) 99%
09                         Vista Properties LLC (Vista View) 99%
09                         Vista Verde Townhomes II LLC 99%
07                  ECH Investor Partners VI-B LP 100%GP
08                      Edison Capital Housing Partners VI LP 37.18%GP
09                         Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
09                         Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
09                         Altamont Hotel Associates LP 99%
09                         Bradley Manor Senior Apartments LP 99%
09                         Double X Associates 1995 LP (Terrace Manor) 99%
09                         Hamilton Place Apartments LP (Larkin Place) 99%
09                         Hamilton Place Senior Living LP 99%
09                         Hearthstone Group 3 LP (Evergreen Court) 99%
09                         KDF Malabar LP 99%
09                         LINC-Bristol Associates I, LP (City Gardens) 99%
09                         MAS-WT, LP (Washington Terrace) 99%
09                         Northwood Manor Associates LP 99%
09                         Silver Lake Properties LP 99%
09                         University Park Properties LP 99%
09                         Upland Senior Housing LP (Coy D. Estes) 99%
09                         Vista Properties LLC (Vista View) 99%
09                         Vista Verde Townhomes II LLC 99%
05            EDISON HOUSING OREGON, INC.
05            EDISON HOUSING SOUTH CAROLINA
06               Edison Capital Contributions VI Partners 4.20%
07                  ECH Investor Partners VI-A LP 15.39%GP
08                      Edison Capital Housing Partners VI LP 61.82%GP
09                         Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
09                         Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
09                         Altamont Hotel Associates LP 99%
09                         Bradley Manor Senior Apartments LP 99%
09                         Double X Associates 1995 LP (Terrace Manor) 99%
09                         Hamilton Place Apartments LP (Larkin Place) 99%
09                         Hamilton Place Senior Living LP 99%
09                         Hearthstone Group 3 LP (Evergreen Court) 99%
09                         KDF Malabar LP 99%
09                         LINC-Bristol Associates I, LP (City Gardens) 99%
09                         MAS-WT, LP (Washington Terrace) 99%
09                         Northwood Manor Associates LP 99%
09                         Silver Lake Properties LP 99%
09                         University Park Properties LP 99%
09                         Upland Senior Housing LP (Coy D. Estes) 99%
09                         Vista Properties LLC (Vista View) 99%
09                         Vista Verde Townhomes II LLC 99%
07                  ECH Investor Partners VI-B LP 100%GP
08                      Edison Capital Housing Partners VI LP 37.18%GP
09                         Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
09                         Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
09                         Altamont Hotel Associates LP 99%
09                         Bradley Manor Senior Apartments LP 99%
09                         Double X Associates 1995 LP (Terrace Manor) 99%
09                         Hamilton Place Apartments LP (Larkin Place) 99%
09                         Hamilton Place Senior Living LP 99%
09                         Hearthstone Group 3 LP (Evergreen Court) 99%


10


09                         KDF Malabar LP 99%
09                         LINC-Bristol Associates I, LP (City Gardens) 99%
09                         MAS-WT, LP (Washington Terrace) 99%
09                         Northwood Manor Associates LP 99%
09                         Silver Lake Properties LP 99%
09                         University Park Properties LP 99%
09                         Upland Senior Housing LP (Coy D. Estes) 99%
09                         Vista Properties LLC (Vista View) 99%
09                         Vista Verde Townhomes II LLC 99%
05            EHI DEVELOPMENT COMPANY
05            EHI DEVELOPMENT FUND
05            Florence Apartments LLC 99%
05            Harry Clark Jr. Residential Center LLC 99%
05            Hotel Elkhart L.L.C. (The Cornerstone) 99%
05            Josephinum Associates LP, The (Washington partnership) 99%
05            Kennedy Lofts Associates LP (Massachusetts partnership) 99%
05            LL Housing L.L.C. 24.5%
05            Madison/Mollison LP (Park Mollison) 99%
05            Maplewood Housing Associates LP 99.9%
05            MH I LP 1%GP
06               California Park Apartments LP 99%
05            MH II LP 1%GP
06               5363 Dent Avenue Associates LP 99%
05            MH III LP 1%GP
06               DeRose Housing Associates LP 99%
05            MH IV LP 1%GP
06               MPT Apartments LP (MacArthur Park) 99%
05            MH V LP 1%GP
06               Centennial Place LP 99%
05            MHICAL 94 COMPANY
              [owns 19.32% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05            MHICAL 94 LP (Delaware partnership) 1%GP
06               Mayacamas Village Associates LP 99%
06               West Capital Courtyard LP 99%
05            MHICAL 95 LP (Delaware partnership) 1%GP
06               Abby Associates LP (Windmere) 99%
06               Colina Vista LP 99%
06               Mercy Housing California VI LP (205 Jones) 99%
05            MHICAL 96 LP (Delaware partnership) 1%GP
06               Greenway Village Associates LP 99%
06               Kennedy Court Partners LP 99%
06               Klamath Associates LP 99%
06               Westgate Townhomes Associates LP 99%
05            MHICAL 95 COMPANY
06               ECH/HFC GP Partnership No. 2 43.3%
07                  Edison Capital Housing Partners VIII LP 18.54%GP
08                      Catalonia Associates LP 99%
08                      Ohlone Housing Associates LP 99%
06               EDISON HOUSING CONSOLIDATION CO. (formerly Edison Housing Georgia) 29.90%
07                  EDISON FUNDING OMICRON INCORPORATED (Delaware corporation) (formerly Edison Funding Omicron
                    GP) 44.40% [also owned 0.08% by Edison Funding Company and 55.52% by Edison Capital Housing
                    Investments]
08                      16th and Church Street Associates LP 99%
08                      1856 Wells Court Partners, LP (Wells Court) 99%
08                      AE Associates LP (Avenida Espana) 99%
08                      Agape Housing LP 99%
08                      Anglo Edison Ravenwood L.L.C. 99%
08                      Brantwood II Associates LP 99%
08                      Brooks School Associates LP 99%
08                      Bryn Mawr - Belle Shore LP (The) 99%


11


08                      Bush Hotel LP 99%
08                      Centertown Associates LP (Ravenwood) 99%
08                      Centro Partners LP (El Centro) 99%
08                      Coyote Springs Apartments Associates LP 99%
08                      Cypress Cove Associates 99%
08                      Del Carlo Court Associates LP 99%
08                      Delta Plaza Apartments LP 99%
08                      EAH Larkspur Creekside Associates LP 99%
08                      East Cotati Avenue Partners LP 99%
08                      EDISON FUNDING OLIVE COURT 100%
09                         Olive Court Housing Associates LP 0.6%
08                      Edmundson Associates LP (Willows) 99%
08                      El Barrio Academy Urban Renewal Associates, LP (Academy Street) 99%
08                      Elizabeth West and East LP 99%
08                      Farm (The) Associates LP 99%
08                      Gilroy Redwood Associates LP (Redwoods) 99%
08                      Ginzton Associates LP 99%
08                      Grossman Apartments Investors LP 99%
08                      Heather Glen Associates LP 99%
08                      HMB-Atlanta I LP (Spring Branch) 99%
08                      Holy Family Associates LP 99%
08                      Lackawana Housing Associates LLC (Goodwill Neighborhood Residences) 99%
08                      Maplewood School Apartments LP 99%
08                      Mar Associates LP (Frank Mar) 99%
08                      McFarland Press Associates LP 99%
08                      Mercantile Housing LLC (Mercantile Square) 99%
08                      Merrill Road Associates LP 99%
08                      MH I LP 99%
09                         California Park Apartments LP 99%
08                      MHICAL 94 LP (Delaware partnership) 99%LP
09                         Mayacamas Village Associates LP 99%
09                         West Capital Courtyard LP 99%
08                      MHICAL 95 LP (Delaware partnership) 99%LP
09                         Abby Associates LP (Windmere) 99%
09                         Colina Vista LP 99%
09                         Mercy Housing California VI LP (205 Jones) 99%
08                      MHICAL 96 LP (Delaware partnership) 99%LP
09                         Greenway Village Associates LP 99%
09                         Kennedy Court Partners LP 99%
09                         Klamath Associates LP 99%
09                         Westgate Townhomes Associates LP 99%
08                      Mid-Peninsula Century Village Associates LP (Century Village) 99%
08                      Mission Capp LP 99%
08                      Mission Housing Partnership 1996 LP (Delaware partnership) 99%LP
08                      Neary Lagoon Partners LP 99%
08                      North Park Village LLC 99%
08                      Oceanside Gardens LP 99%
08                      Omaha Amber Ridge LP (Amber Ridge) 99%
08                      Open Door Associates LP (West Valley) 99%
08                      Palmer House LP 99%
08                      Richmond City Center Associates LP 99%
08                      Riverside/Liebrandt Partners LP (La Playa) 99%
08                      Roebling Village Inn Urban Renewal LP 99%
08                      Rosebloom Associates LP (Oakshade) 99%
08                      San Pablo Senior Housing Associates LP 99%
08                      San Pedro Gardens Associates LP 99%
08                      Santa Paulan Senior Apartments Associates LP (The Paulan) 99%
08                      South Beach Housing Associates LP (Steamboat) 99%
08                      South Winery Associates LP (The Winery Apartments) 99%
08                      Stoney Creek Associates LP 99%


12


08                      Studebaker Building LP 99%
08                      Sultana Acres Associates LP 99%
08                      Thomson Rental Housing, LP (Washington Place) 99%
08                      Tuscany Associates LP (Tuscany Villa) 99%
08                      Villa Maria Housing LP 99%
08                      Washington Creek Associates LP 99%
08                      Westport Village Homes Associates LP 99%
08                      Wheeler Manor Associates LP 99%
08                      YWCA Villa Nueva Partners LP 99%
05            MHICAL 96 COMPANY
              [owns 8.96% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
06               ECH/HFC GP Partnership No. 1 50.4%
07                  Edison Capital Housing Partners VII LP 19.4%GP
08                      C-Court LP (Cawelti Court) 99%
08                      Cottonwood Affordable Housing LP 99%
08                      Fifth and Wilshire Apartments LP 99%
08                      Flagstaff Affordable Housing II, LP (Forest View Apts.) 99%
08                      Huff Avenue Associates LP 99%
08                      Mountain View Townhomes Associates LP 99%
08                      Oak Forest Associates LP 99%
08                      Paradise Road Partners LP (Gateway Village) 99%
08                      Woodland Arms Apartments, Ltd. 99%
06               Edison Capital Affordable Housing 99A G.P. 36.47%
07                  Edison Capital Housing Partners IX LP 13.5533%GP
08                      1010 SVN Associates LP 99.9%
08                      2814 Fifth Street Associates LP (Land Park Woods) 99%
08                      Alma Place Associates LP 99%
08                      Knolls Community Associates LP 99.9%
08                      Monterra Village Associates LP 99%
08                      Pacific Terrace Associates LP 99.9%
08                      PVA LP (Park Victoria) 99%
08                      Sherman Glen, L.L.C. 99%
08                      Strobridge Housing Associates LP 99%
08                      Trolley Terrace Townhomes LP 99.9%
08                      Walnut Avenue Partnership LP 99%
05            MHICAL 97 COMPANY
06               ECH/HFC GP Partnership No. 1 14.7%
07                  Edison Capital Housing Partners VII LP 19.4%GP
08                      C-Court LP (Cawelti Court) 99%
08                      Cottonwood Affordable Housing LP 99%
08                      Fifth and Wilshire Apartments LP 99%
08                      Flagstaff Affordable Housing II, LP (Forest View Apts.) 99%
08                      Huff Avenue Associates LP 99%
08                      Mountain View Townhomes Associates LP 99%
08                      Oak Forest Associates LP 99%
08                      Paradise Road Partners LP (Gateway Village) 99%
08                      Woodland Arms Apartments, Ltd. 99%
06               Edison Capital Affordable Housing 99A G.P. 33.05%
07                  Edison Capital Housing Partners IX LP 13.5533%GP
08                      1010 SVN Associates LP 99.9%
08                      2814 Fifth Street Associates LP (Land Park Woods) 99%
08                      Alma Place Associates LP 99%
08                      Knolls Community Associates LP 99.9%
08                      Monterra Village Associates LP 99%
08                      Pacific Terrace Associates LP 99.9%
08                      PVA LP (Park Victoria) 99%
08                      Sherman Glen, L.L.C. 99%
08                      Strobridge Housing Associates LP 99%
08                      Trolley Terrace Townhomes LP 99.9%
08                      Walnut Avenue Partnership LP 99%


13


06               MHICAL 97 LP 99%LP
07                  Garnet Housing Associates LP 99%
05            MHICAL 97 LP 1%GP
06               Garnet Housing Associates LP 99%
05            MHIFED 94 COMPANY
05            MHIFED 94 LP (Delaware partnership) 1%GP; 99%LP to Bell Atlantic
06               Berry Avenue Associates LP 99%
06               Carlton Way Apartments LP 99%
06               CDR Senior Housing Associates (Casa del Rio) 99%
06               Corona Ely/Ranch Associates LP 99%
06               Fairview Village Associates LP 99%
06               Fell Street Housing Associates LP 99%
06               Hope West Apartments LP 99%
06               Morrone Gardens Associates LP 99%
06               Pajaro Court Associates LP 99%
06               Tierra Linda Associates LP 99%
06               Tlaquepaque Housing Associates LP 99%
05            MHIFED 95 COMPANY
05            MHIFED 95 LP (Delaware partnership) 1%GP; 99%LP to Bell Atlantic
06               1101 Howard Street Associates LP 99%
06               Avalon Courtyard LP (Carson Senior Housing) 99%
06               Hollywood El Centro LP 99%
06               La Brea/Franklin LP 99%
06               Larkin Pine LP 99%
06               Mercy Housing California III LP (3rd and Reed) 99%
06               Pinole Grove Associates LP 99%
06               Second Street Center LP (Santa Monica) 99%
06               Solinas Village Partners LP 99%
06               Three Oaks Housing LP 99%
05            MHIFED 96 COMPANY
05            MHIFED 96 LP (Delaware partnership) 5%GP; 95%LP to Cargill
06               Lavell Village Associates LP 99%
06               North Town Housing Partners LP (Villa del Norte Village) 99%
06               Poco Way Associates LP 99%
06               Seasons Affordable Senior Housing LP 99%
05            MHIFED 96A COMPANY
05            MHIFED 96A LP (Delaware partnership) 1%GP; 99%LP to Bell Atlantic
06               Good Samaritan Associates LP 99%
06               Metro Senior Associates LP 99%
06               Oxnard Housing Associates LP 99%
06               Reseda Village LP 99%
06               Round Walk Village Apartments LP 99%
06               Santa Alicia Family Housing Associates 99%
06               Vine Street Court LP 99%
06               Vine Street Court LP II 99%
05            MHIFED 97 COMPANY
06               MHIFED 97 LP 99%LP
05            MHIFED 97 LP 1%GP
05            Mid-Peninsula Sharmon Palms Associates LP (Sharmon Palms) 99%
05            MISSION HOUSING ALPHA
06               Lee Park Investors LP (Pennsylvania partnership) 99%
06               Quebec Arms Apartments LP 0.05% GP
06               University Manor Apartment LP 0.05% GP
05            MISSION HOUSING BETA
              [owns 2.58% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05            MISSION HOUSING DELTA
              [owns 1.07% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
06               MH II LP 99%
07                  5363 Dent Avenue Associates LP 99%


14


06               MH III LP 99%
07                  DeRose Housing Associates LP 99%
06               MH IV LP 99%
07                  MPT Apartments LP (MacArthur Park) 99%
06               MH V LP 99%
07                  Centennial Place LP 99%
05            MISSION HOUSING DENVER
              [owns 5.67% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05            MISSION HOUSING EPSILON
              [owns 0.54% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
06               Edison Capital Affordable Housing 99A G.P. 2.78%
07                  Edison Capital Housing Partners IX LP 13.5533%GP
08                      1010 SVN Associates LP 99.9%
08                      2814 Fifth Street Associates LP (Land Park Woods) 99%
08                      Alma Place Associates LP 99%
08                      Knolls Community Associates LP 99.9%
08                      Monterra Village Associates LP 99%
08                      Pacific Terrace Associates LP 99.9%
08                      PVA LP (Park Victoria) 99%
08                      Sherman Glen, L.L.C. 99%
08                      Strobridge Housing Associates LP 99%
08                      Trolley Terrace Townhomes LP 99.9%
08                      Walnut Avenue Partnership LP 99%
05            MISSION HOUSING GAMMA
              [owns 1.73% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05            MISSION HOUSING HOLDINGS
              [owns 13.10% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05            Mission Housing Partnership 1996 LP (Delaware partnership) 1%GP
05            MISSION HOUSING THETA
06               MISSION FUNDING THETA
                 [owns 0.01% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
07                  Cedarshores Limited Dividend Housing Association LP 0.01%
07                  Edison Capital Affordable Housing 99A G.P. 0.01%
08                      Edison Capital Housing Partners IX LP 13.5533%GP
09                         1010 SVN Associates LP 99.9%
09                         2814 Fifth Street Associates LP (Land Park Woods) 99%
09                         Alma Place Associates LP 99%
09                         Knolls Community Associates LP 99.9%
09                         Monterra Village Associates LP 99%
09                         Pacific Terrace Associates LP 99.9%
09                         PVA LP (Park Victoria) 99%
09                         Sherman Glen, L.L.C. 99%
09                         Strobridge Housing Associates LP 99%
09                         Trolley Terrace Townhomes LP 99.9%
09                         Walnut Avenue Partnership LP 99%
07                  Edison Capital Affordable Housing 99B G.P. 0.01%
08                      Edison Capital Housing Partners X LP 19.3952%GP
09                         Beacon Manor Associates LP 99.9%
09                         Boulder Creek Apartments LP 99.9%
09                         Burlington Senior Housing LLC 99.9%
09                         CCS/Renton Housing LP (Renton) 99.9%
09                         Coolidge Station Apartments L.L.C. 99%
09                         Lark Ellen LP 99%
09                         Mercy Housing California IX LP (Sycamore) 99.9%
09                         Morgan Hill Ranch Housing LP 99%
09                         Pacifica Community Associates LP (Villa Pacifica) 99.9%
09                         Persimmon Associates LP 99%
09                         Providence-Brown Street Housing LP (Brown Street) 99.9%
09                         San Juan Commons 1996 LP 99.9%


15


09                         Timber Sound, Ltd. 99%
09                         Timber Sound II, Ltd. 99%
09                         Trinity Park Apartments LP 99.9%
09                         Venbury Trail LP 99.9%
07                  Oakdale Terrace Leased Housing Associates LP 0.01%
07                  Westfield Condominium Investment LP 0.01%
07                  Woodleaf Village LP 0.01%
06               Mission Housing Investors Partnership 5%GP; 95%LP to GECC
07                  1028 Howard Street Associates LP 99%
07                  Forest Winds Associates LP 99%
07                  Glen Eden Associates LP (A Street) 99%
07                  Gray's Meadows Investors LP 99%
07                  Prince Bozzuto LP (Fairground Commons) (Maryland partnership) 99%
07                  Rancho Park Associates LP 99%
07                  Rustic Gardens Associates LP 99%
07                  Sea Ranch Apartments LP 99%
07                  Springdale Kresson Associates LP (Jewish Federation) (New Jersey partnership) 99%
05            MISSION HOUSING ZETA
              [owns 5.35% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05            MISSION SA COMPANY
05            National Boston Lofts Associates LLLP (Boston Lofts) 99%
05            Oakdale Terrace Leased Housing Associates LP 98.99%
05            Olive Court Apartments LP 98.9%
05            Pacific Vista Las Flores LP (Vista Las Flores) 99.9%
05            Pilot Grove LP (Massachusetts partnership) 99%
05            Pinewood on Wisconsin Apartments 99%
05            Post Office Plaza LP (Ohio partnership) 99%
05            Tabor Grand LP (Colorado partnership) 99%
05            WGA INVESTORS COMPANY [dead project]
05            West Valley Hart LP (Hart and Alabama) 99.9%
05            Westfield Condominium Investment LP 98.99%
05            White Mountain Apache LP 99%
04        EDISON FUNDING OMICRON INCORPORATED (Delaware corporation) (formerly Edison Funding Omicron GP) 0.08%
          [also owned 55.52% by Edison Capital Housing Investments and 44.40% by Edison Housing Consolidation Co.]
05            EDISON FUNDING OLIVE COURT 100%
06               Olive Court Housing Associates LP 0.6%
04        EDISON INTEGRATED ENERGY SERVICES
04        MISSION FIRST ASSET INVESTMENT
04        MISSION FUNDING BETA
04        MISSION FUNDING EPSILON
05            Edison Capital (Bermuda) Investments, Ltd. (Bermuda corporation)
              Address:  Clarendon House, 2 Church Street, Hamilton HM CX, Bermuda
06               Edison Capital LAI (Bermuda) Ltd. (Bermuda corporation)
                 Address:  Clarendon House, 2 Church Street, P.O. Box HM666, Hamilton HM CX, Bermuda
07                  Trinidad and Tobago Methanol Company Limited (equity) 1.0%
06               Edison Capital Latin American Investments (Bermuda) Ltd. (Bermuda corporation) 33.3%
                 Address:  Clarendon House, 2 Church Street, P.O. Box HM666, Hamilton HM CX, Bermuda
07                  AIG Asian Infrastructure Fund II LP 5.8%
07                  AIG-GE Capital Latin American Infrastructure Fund LP 8%
07                  AIG Emerging Europe Infrastructure Fund LP 18.05%
07                  AIG Emerging Europe Infrastructure Management LP 23.6%GP
05            Edison Capital International (Bermuda) Ltd. (Bermuda corporation)
              Address:  Clarendon House, 2 Church Street, P.O. Box HM666, Hamilton HM CX, Bermuda


16


06               Edison Capital International Transmission (Bermuda) Ltd. (Bermuda corporation) 100%
06               Edison Capital Latin American Investments (Bermuda) Ltd. (Bermuda corporation) 33.3%
07                  AIG Asian Infrastructure Fund II LP 5.8%
07                  AIG-GE Capital Latin American Infrastructure Fund LP 7.89%
08                      Andes Energy XII Ltd. 100%
09                         Paz Holdings Ltd. 43.22%
10                            Compania Adminstradora de Empresas Bolivia S.A. (Cade) 12.55% (Bolivian service
                              company)
                              Address:  Edificio Electropaz SA, subsuelo Plaza Venezuela No. 1401 esq. Loayza, La
                              Paz, Bolivia
10                            Electricidad de La Paz S.A. (Electropaz) (equity) 10% (Bolivian foreign utility
                              company) [See 4.EC01]
                              Address:  Avenida Illimani l973, Casilla 10511, La Paz, Bolivia
10                            Empresa de Luz y Fuerza Electrica de Oruro S.A. (Elfeo) 12.55% (Bolivian foreign
                              utility company) [See 4.EC02]
                              Address:  Junin No. 710, Casilla No. 53, Oruro, Bolivia
10                            Empresa de Servicios Edeser S.A. (Edeser) 12.55% (Bolivian
                              service company)
                              Address:  Iturralde No. 1309, Miraflores, La Paz, Bolivia
07                  AIG Emerging Europe Infrastructure Fund LP 18.05%
07                  AIG Emerging Europe Infrastructure Management LP 23.6%GP
06               Olmeca Cable Investments Ltd. (Mandeville Mexico, S.A.) 21.7%
06               Paz Holdings Ltd. 30.42%
07                  Compania Adminstradora de Empresas Bolivia S.A. (Cade) 12.55% (Bolivian service company)
                    Address:  Edificio Electropaz SA, subsuelo Plaza Venezuela No. 1401 esq. Loayza, La Paz,
                    Bolivia
07                  Electricidad de La Paz S.A. (Electropaz) (equity) 10% (Bolivian foreign utility company) [See
                    4.EC01]
                    Address:  Avenida Illimani l973, Casilla 10511, La Paz, Bolivia
07                  Empresa de Luz y Fuerza Electrica de Oruro S.A. (Elfeo) 12.55% (Bolivian foreign utility
                    company) [See 4.EC02]
                    Address:  Calle Junin No. 71, Casilla No. 53, Oruro, Bolivia
07                  Empresa de Servicios Edeser S.A. (Edeser) 12.55% (Bolivian service
                    company)
                    Address:  Iturralde No. 1309, Miraflores, La Paz, Bolivia
05            Edison Capital Latin American Investments Holding Company (Delaware corporation)
06               Edison Capital Latin American Investments (Bermuda) Ltd. (Bermuda corporation) 33.3%
07                  AIG Asian Infrastructure Fund II LP 5.8%
07                  AIG-GE Capital Latin American Infrastructure Fund LP 7.89%
07                  AIG Emerging Europe Infrastructure Fund LP 18.05%
07                  AIG Emerging Europe Infrastructure Management LP 23.6%GP
05            Edison Capital (Netherlands) Holdings B.V.
              Address:  Aert van Nesstraat 45, 3012 CA Rotterdam, The Netherlands
06               Edison Capital (Netherlands) Investments B.V.
                 Address:  Aert van Nesstraat 45, 3012 CA Rotterdam, The Netherlands
05            MISSION FUNDING ALPHA
06               MISSION FUNDING MU
07                  EPZ Mission Funding Mu Trust (equity interest in foreign utility company) [See 4.EC03]
                    Address:  c/o Wilmington Trust Company, Rodney Square North, 111 North Market Square,
                    Wilmington, Delaware 19890-0004
05            MISSION FUNDING DELTA
06               MISSION FUNDING NU
07                  EPZ Mission Funding Nu Trust (equity interest in foreign utility company) [See 4.EC04]
                    Address:  c/o Wilmington Trust Company, Rodney Square North, 111 North Market Square,
                    Wilmington, Delaware 19890-0004


17


05            Mission Investments, Inc. (U.S. Virgin Islands corp.)
              Address:  ABN Trustcompany, Guardian Building, Havensight, 2nd Floor, St. Thomas, U.S. Virgin
              Islands
05            Mission (Bermuda) Investments, Ltd. (Bermuda corp.)
              Address:  Clarendon House, 2 Church Street, Hamilton HM CX, Bermuda
04        MISSION FUNDING GAMMA
04        MISSION FUNDING KAPPA
05            ABB Funding Partners, LP 14.27%
04        MISSION FUNDING ZETA
05            Huntington LP (New York partnership) 50%
05            Lakota Ridge LLC 75% [See 4.EC05]
              Address:  c/o DanMar & Associates, 520 Fifth Avenue SE, Pipestone, Minnesota 56164
05            Shaokatan Hills LLC 75% [See 4.EC06]
              Address:  c/o DanMar & Associates, 520 Fifth Avenue SE, Pipestone, Minnesota 56164
05            Woodstock Hills LLC 75% [See 4.EC07]
              Address:  c/o DanMar & Associates, 520 Fifth Avenue SE, Pipestone, Minnesota 56164
04        MISSION IOWA WIND COMPANY
05            Storm Lake Power Partners I LLC (99%) [See 4.EC08]
              Address:  13000 Jameson Road, Tehachapi, CA 93561
03     EDISON MORTGAGE COMPANY
03     MISSION BARTLETT HILL COMPANY
03     MISSION INTERNATIONAL CAPITAL, INC.
03     RENEWABLE ENERGY CAPITAL COMPANY

02        MISSION LAND COMPANY is a California corporation having its principal place of business at 18101 Von
          Karman Avenue, Suite 1700, Irvine, California 92612-1046.  It is engaged, directly and through its
          subsidiaries, in the business of owning, managing and selling industrial parks and other real property
          investments.  The subsidiaries and partnerships of Mission Land Company are listed below.  Unless
          otherwise indicated, all entities are corporations, are organized under the laws of the State of
          California, and have the same principal place of business as Mission Land Company.

03     ASSOCIATED SOUTHERN INVESTMENT COMPANY
03     CALABASAS PALATINO, INC. (Inactive)
03     Carol Stream Developers G.P. (Illinois partnership) 60%GP
03     Centrelake Partners, LP (limited partnership) 98%GP
03     IRWINDALE LAND COMPANY (Inactive)
03     MISSION AIRPORT PARK DEVELOPMENT CO.
04        Carol Stream Developers G.P. (Illinois partnership) 40%GP
04        Centrelake Partners, LP (limited partnership) 2%LP
04        Mission Vacaville LP (limited partnership) 1%GP
03     MISSION INDUSTRIAL CONSTRUCTORS, INC. (Inactive)
03     Mission-Oceangate 75%GP
03     MISSION/ONTARIO, INC. (Inactive)
03     MISSION SOUTH BAY COMPANY (Inactive)
04        Mission-Oceangate 25%GP
03     MISSION TEXAS PROPERTY HOLDINGS, INC. (Inactive)
03     Mission Vacaville LP (limited partnership) 99%LP

02        MISSION POWER ENGINEERING COMPANY is an inactive California corporation having its principal place of
          business at 2244 Walnut Grove Avenue, Rosemead, California 91770.  The subsidiary of Mission Power
          Engineering Company is listed below.

03     ASSOCIATED SOUTHERN ENGINEERING COMPANY (Inactive)

02        MISSION ENERGY HOLDING COMPANY is a Delaware corporation having its principal place of business at 1321
          South State College Boulevard, Fullerton, California 92831.  Mission Energy Holding Company owns the
          stock of Edison Mission Energy and also acts as a financing vehicle.


18



03     EDISON MISSION ENERGY is a Delaware corporation having its principal place of business at 18101 Von Karman
       Avenue, Suite 1700, Irvine, California 92612-1046.  Edison Mission Energy owns the stock of a group of
       corporations which, primarily through partnerships with non-affiliated entities, are engaged in the
       business of developing, owning, leasing and/or operating cogeneration, geothermal and other energy or
       energy-related projects pursuant to the Public Utility Regulatory Policies Act of 1978.  Edison Mission
       Energy, through wholly owned subsidiaries, also has ownership interests in a number of independent power
       projects in operation or under development that either have been reviewed by the Commission's staff for
       compliance with the Act or are or will be exempt wholesale generators or foreign utility companies under
       the Energy Policy Act of 1992.  In addition, some Edison Mission Energy subsidiaries have made
       fuel-related investments and a limited number of non-energy related investments.  The subsidiaries and
       partnerships of Edison Mission Energy are listed below.  Unless otherwise indicated, all entities are
       corporations, are organized under the laws of the State of California and have the same principal place of
       business as Edison Mission Energy.

EDISON MISSION ENERGY DOMESTIC COMPANIES:
04     AGUILA ENERGY COMPANY (LP)
05        American Bituminous Power Partners, LP (Delaware limited partnership) 49.5%; 50% with Pleasant Valley
          Address:  Grant Town Power Plant, Highway 17, Grant Town, WV 26574
06            American Kiln Partners, LP (Delaware limited partnership) 49.5% of 53%
04     ANACAPA ENERGY COMPANY (GP)
05        Salinas River Cogeneration Company 50%
          Address:  Star Route 42, Sargents Road, San Ardo, CA 93450
04     ARROWHEAD ENERGY COMPANY (Inactive)
04     BALBOA ENERGY COMPANY (GP)
05        Smithtown Cogeneration, LP (Delaware partnership) 50%; 100% w/ Kingspark
04     BLUE RIDGE ENERGY COMPANY (GP)
05        Bretton Woods Cogeneration, LP (Delaware limited partnership) 50%; 100% w/ Bretton Woods
04     BRETTON WOODS ENERGY COMPANY (GP and LP)
05        Bretton Woods Cogeneration, LP (Delaware LP) 50%; 100% w/ Blue Ridge
04     CAMINO ENERGY COMPANY (GP)
05        Watson Cogeneration Company (general partnership) 49%
05        CPC Cogeneration LLC (Delaware LLC) 49%
04     CAPISTRANO COGENERATION COMPANY (GP)
05        James River Cogeneration Company (North Carolina partnership) 50%
04     CENTERPORT ENERGY COMPANY (GP and LP)
05        Riverhead Cogeneration I, LP (Delaware partnership) 50%; 100% w/ Ridgecrest
04     CHESAPEAKE BAY ENERGY COMPANY (GP)
05        Delaware Clean Energy Project (Delaware general partnership) 50%
04     CHESTER ENERGY COMPANY (no partners; option Chesapeake,VA)
04     CLAYVILLE ENERGY COMPANY
05        Oconee Energy, LP (Delaware LP) 50%; 100% w/Coronado
04     COLONIAL ENERGY COMPANY (Inactive)
04     CORONADO ENERGY COMPANY
05        Oconee Energy, LP (Delaware LP) 50%; 100% w/Clayville
04     CRESCENT VALLEY ENERGY COMPANY (Inactive)
04     DEL MAR ENERGY COMPANY (GP)
05        Mid-Set Cogeneration Company 50%
          Address:  13705 Shalae Road, Fellows, CA 93224
04     DELAWARE ENERGY CONSERVERS, INC. (Delaware corporation) (Inactive)
04     DESERT SUNRISE ENERGY COMPANY (Nevada corporation) (Inactive)
04     DEVEREAUX ENERGY COMPANY (LP)
04     EASTERN SIERRA ENERGY COMPANY (GP and LP)
       [This entity and its subsidiary were sold on 09/20/2001]
05        Saguaro Power Company, LP 50%
          Address:  8000 W. Lake Mead Drive, Henderson, NV 89001
04     EAST MAINE ENERGY COMPANY (Inactive)
04     EDISON ALABAMA GENERATING COMPANY


19


04     EDISON MISSION DEVELOPMENT, INC. (Delaware corporation) 100%
04     EDISON MISSION ENERGY FUEL
05        EDISON MISSION ENERGY OIL & GAS
06            Four Star Oil & Gas Company 37.196%
              Address:  200 Westchester Avenue, White Plains, NY 10650
05        EDISON MISSION ENERGY PETROLEUM
05        POCONO FUELS COMPANY (Inactive)
05        SOUTHERN SIERRA GAS COMPANY
06            TM Star Fuel Company (general partnership) 50%
04     EDISON MISSION ENERGY FUNDING CORP. (Delaware corporation) 1%
04     Edison Mission Energy Interface Ltd. (British Columbia company)
       Address:  2 Sheppard Ave. E. #200, North York, Ontario, Canada
05        The Mission Interface Partnership (Province of Ontario G.P.) 50%
04     EDISON MISSION ENERGY SERVICES, INC. [formerly Edison Mission
       Energy Fuel Services, Inc.] [PowerGen project]
04     EDISON MISSION FUEL RESOURCES, INC. [Com Ed Project
04     EDISON MISSION FUEL TRANSPORTATION, INC. [Com Ed Project]
04     EDISON MISSION MARKETING & TRADING, INC. [Com Ed Project]
04     EDISON MISSION HOLDINGS CO. (formerly EME Homer City Holdings Co.)
05        CHESTNUT RIDGE ENERGY COMPANY 100%
06            EME HOMER CITY GENERATION LP (Pennsylvania) 99%LP [See 4.EME05]
              Address:  1750 Power Plant Road, Homer City, PA 15748-8009
05        EDISON MISSION FINANCE CO. 100%
05        HOMER CITY PROPERTY HOLDINGS, INC. 100%
05        MISSION ENERGY WESTSIDE, INC. 100%
06            EME HOMER CITY GENERATION LP (Pennsylvania) 1%GP [See 4.EME05]
              Address:  1750 Power Plant Road, Homer City, PA 15748-8009
04     EDISON MISSION OPERATION & MAINTENANCE, INC.
05        Mission Operations de Mexico, S.A. de C.V. (Inactive) 99%
          Address:  Bosques de Ciruelos No. 304 2 Piso, Colonia Bosques de las Lomas, 11700 Mexico Distrito
          Federal
04     EDISON MISSION PROJECT CO. (formerly EME UK International, Inc.) (Delaware corporation) 100% [holds 100%
       of the issued and outstanding Class D shares of MEC International B.V. (0.01%)--see INTERNATIONAL section]
04     EL DORADO ENERGY COMPANY (GP)
04     EME CP HOLDINGS CO.
05        Bretton Woods Funding I, L.L.C.
05        CP Power Sales Five, L.L.C.
05        CP Power Sales Thirteen, L.L.C.
05        CP Power Sales Fourteen, L.L.C.
05        CP Power Sales Fifteen, L.L.C.
05        CP Power Sales Seventeen, L.L.C.
05        CP Power Sales Eighteen, L.L.C.
05        CP Power Sales Nineteen, L.L.C.
05        CP Power Sales Twenty, L.L.C.
05        Sunapee Funding I, L.L.C.
04     EME EASTERN HOLDINGS CO.
05        Athens Funding, L.L.C.
05        Citizens Power Holdings One, LLC
06            CL Power Sales One, L.L.C. 25%
06            CL Power Sales Two, L.L.C. 25%
06            CL Power Sales Six, L.L.C. 25%
06            CL Power Sales Seven, L.L.C. 25%
06            CL Power Sales Eight, L.L.C. 25%
06            CL Power Sales Nine, L.L.C. 25%
06            CL Power Sales Ten, L.L.C. 25%
05        CP Power Sales Twelve, L.L.C.
04     EMP, INC. (Oregon corporation) (GP and LP) (Inactive)


20


04     FOUR COUNTIES GAS COMPANY (Inactive)
04     GLOBAL POWER INVESTORS, INC.
04     HANOVER ENERGY COMPANY
05        CHICKAHOMINY RIVER ENERGY CORPORATION (Virginia corporation) (GP and LP)
06            Commonwealth Atlantic LP (Delaware partnership) 50% [See 4.EME02]
              Address:  2837 South Military Highway, Chesapeake, VA 23323-0286
04     HOLTSVILLE ENERGY COMPANY (GP and LP)
05        Brookhaven Cogeneration, LP (Delaware partnership) 50%; 100% w/ Madera
04     INDIAN BAY ENERGY COMPANY (GP and LP)
05        Riverhead Cogeneration III, LP (Delaware partnership) 50%; 100% w/ Santa Ana
04     JEFFERSON ENERGY COMPANY (GP and LP) (Inactive)
04     KINGS CANYON ENERGY COMPANY (Inactive)
04     KINGSPARK ENERGY COMPANY (GP and LP)
05        Smithtown Cogeneration, LP (Delaware partnership) 50%; 100% w/ Balboa
04     LAGUNA ENERGY COMPANY (Inactive) (former interest in Ambit)
04     LA JOLLA ENERGY COMPANY (Inactive) (used for Belridge)
04     LAKEVIEW ENERGY COMPANY
05        Georgia Peaker, LP (Delaware LP) 50%; 100% w/ Silver Springs
04     LEHIGH RIVER ENERGY COMPANY (Inactive)
04     LONGVIEW COGENERATION COMPANY (held for Weyerhauser)
04     MADERA ENERGY COMPANY (GP)
05        Brookhaven Cogeneration, LP (Delaware partnership) 50%; 100% w/ Holtsville
04     MADISON ENERGY COMPANY (LP)
05        Gordonsville Energy, LP (Delaware partnership) 49%; 50% w/ Rapidan [See 4.EME03]
          Address:  115 Red Hill Road, Gordonsville, VA 22942
04     Majestic Energy Limited (UK private limited company)
       Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
05        EME Royale (New Zealand private limited company)
          Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
06            Edison Mission Energy Taupo Limited (New Zealand company) 100%
              Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
              Australia
04     MIDWEST GENERATION EME, LLC (Delaware LLC) 100%
       Address:  One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
05        COLLINS HOLDINGS EME, LLC
          Address:  One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
05        EDISON MISSION MIDWEST HOLDINGS CO. 100%
          Address:  One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
06            EDISON MISSION ENERGY FUEL SERVICES, LLC
              Address:  One Financial Place, 440 South LaSalle Street, Suite 3500, Chicago, Illinois 60605
06            EDISON MISSION OVERSEAS CO. (Com Ed project) 100%
              Address:  One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
07               Edison Mission Overseas Ltd. (Com Ed project) 100%
                 Address:  One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
06            MIDWEST GENERATION, LLC (Com Ed project) 100% [See 4.EME06]
              Address:  One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
              Crawford Station, 3501 South Pulaski Road, Chicago, IL 60608
              Collins Station, 4200 East Pine Bluff Road, Morris, IL 60623
              Fisk Station, 1111 West Cermak Road, Chicago, IL 60608
              Joliet Station, 1800 Channahon Road, Joliet, IL 60436
              Powerton Station, 13082 East Manito Road, Pekin, IL 61554
              Waukegon Station, 10 Greenwood Avenue, Waukegan, IL 60087
              Will County Station, 529 East Romeo Road, Romeoville, IL 60441
04     MIDWEST PEAKER HOLDINGS, INC. (Delaware corporation) 100%
04     Mission Capital, LP (Delaware LP) 3%; MIPS partnership


21


04     MISSION DEL CIELO, INC. 100%
05        Mission Del Sol, LLC (Delaware LLC) 100%
06            SUNRISE POWER COMPANY, LLC 50% [EWG] [See 4.EME25]
              Address:  12857 Sunrise Power Road, Fellows, CA 93224
07               Mission De Las Estrellas LLC 100%
04     MISSION/EAGLE ENERGY COMPANY (Inactive)
04     MISSION ENERGY CONSTRUCTION SERVICES, INC.
04     MISSION ENERGY GENERATION, INC. (Inactive)
04     MISSION ENERGY HOLDINGS, INC.
05        Mission Capital, LP (Delaware LP) 97%; MIPS partnership
04     MISSION ENERGY HOLDINGS INTERNATIONAL, INC. [holds 100% of the issued and outstanding Class A shares of
       MEC International B.V. (99.97%)--see INTERNATIONAL section]
05        EME Investments, LLC (Delaware LLC) 100% [Contact Energy Acq.]
05        EME SOUTHWEST POWER CORPORATION (Delaware corporation) 100% [holds 100% of the issued and outstanding
          Class C shares of MEC International B.V. (0.01%)--see INTERNATIONAL section]
05        EME UK International LLC (Delaware LLC) 100% [holds 100% of the issued and outstanding Class B stock of
          MEC International B.V. (0.01%)--see INTERNATIONAL section]
04     MISSION ENERGY INDONESIA (Inactive)
04     MISSION ENERGY MEXICO (Inactive) formerly the branch office in Mexico (no partnership)
04     MISSION ENERGY NEW YORK, INC. (GP and LP)
05        Brooklyn Navy Yard Cogeneration Partners, LP (Delaware partnership) 50% [See 4.EME01]
          Address:  Flushing Avenue, Cumberland Street, Building 41, Brooklyn, NY 11205
04     MISSION ENERGY WALES COMPANY
05        Mission Hydro Limited Partnership 30%
          Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
06            EME Generation Holdings Limited (UK company) 100%
              Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               Loyvic Pty Ltd. (Australia company) 100%
                 Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
                 Australia
08                  Energy Capital Partnership (Australia partnership) 1%
                    Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                    Victoria, Australia
09                      Enerloy Pty Ltd. (Australia company) 100%
                        Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                        Victoria, Australia
07               EME Victoria Generation Limited (UK company) 100%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
08                  Energy Capital Partnership (Australia partnership 98%
09                      Enerloy Pty Ltd. (Australia company) 100%
08                  Mission Energy Development Australia Pty Ltd. 100%
                    Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                    Victoria, Australia
09                      Gippsland Power Pty Ltd 100%
                        Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                        Victoria, Australia
10                         Loy Yang B Joint Venture 49% [See 4.EME11]
                           Address:  Bartons Lane, Loy Yang, Victoria, Australia 3844
07               Energy Capital Partnership (Australia partnership) 1%LP
08                  Enerloy Pty Ltd. (Australia company) 100%
07               First Hydro Holdings Company (Australia partnership) 99%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
08                  First Hydro Company 99% [See 4.EME15]
                    Address:  Bala House, St. David's Park, Ewloe, Dlwyd, Wales CH5 3XJ
08                  First Hydro Finance plc 100%
                    Address:  Lansdowne House, Berkeley Square, London W1X 5DH England


22


09                      First Hydro Company 1% [See 4.EME15]
                        Address:  Bala House, St. David's Park, Ewloe, Dlwyd, Wales CH5 3XJ
04     Mission Operations de Mexico, S.A. de C.V. (Inactive) 1%
       Address:  Bosques de Ciruelos No. 304 2 Piso, Colonia Bosques de las Lomas, 11700 Mexico Distrito Federal
04     MISSION TRIPLE CYCLE SYSTEMS COMPANY (GP)
05        Triple Cycle Partnership (Texas G.P.) 50%
04     NORTH JACKSON ENERGY COMPANY (Inactive)
04     NORTHERN SIERRA ENERGY COMPANY (GP)
05        Sobel Cogeneration Company (general partnership) 50%
04     ORTEGA ENERGY COMPANY
04     PANTHER TIMBER COMPANY (GP)
05        American Kiln Partners, LP (Delaware limited partnership) 2%
04     PARADISE ENERGY COMPANY (Inactive)
04     PLEASANT VALLEY ENERGY COMPANY (GP)
05        American Bituminous Power Partners, LP (Delaware limited partnership) 0.5%; 50% w/ Aguila
          Address:  Grant Town Power Plant, Highway 17, Grant Town, WV 26574
06            American Kiln Partners, LP (Delaware Limited Partnership) 0.5% of 53%
04     PRINCE GEORGE ENERGY COMPANY (LP)
       [This entity and its subsidiaries were sold on 06/29/2001]
05        Hopewell Cogeneration Limited Partnership (Delaware limited partnership) 24.75%
05        Hopewell Cogeneration Inc. (Delaware corporation) 25%
06            Hopewell Cogeneration Limited Partnership (Delaware limited partnership) 1%
04     QUARTZ PEAK ENERGY COMPANY (LP)
          [Quartz Peak sold partnership interests in Nevada Sun-Peak on 12/05/2001]
05        Nevada Sun-Peak LP (Nevada partnership) 50% [See 4.EME07]
          Address:  200 South Virginia Street, Reno, NV 89501
04     RAPIDAN ENERGY COMPANY (GP)
05        Gordonsville Energy, LP (Delaware partnership) 1%; 50% w/ Madison [See 4.EME03]
          Address:  115 Red Hill Road, Gordonsville, VA 22942
04     REEVES BAY ENERGY COMPANY (GP and LP)
05        North Shore Energy LP (Delaware partnership) 50%; 100% w/ Santa Clara
06            Northville Energy Corporation (New York corp.) 100%
04     RIDGECREST ENERGY COMPANY (GP)
05        Riverhead Cogeneration I, LP (Delaware partnership) 50%; 100% w/ Centerport
04     RIO ESCONDIDO ENERGY COMPANY
04     RIVERPORT ENERGY COMPANY (GP and LP)
05        Riverhead Cogeneration II, LP (Delaware partnership) 50%; 100% w/ San Pedro
04     SAN GABRIEL ENERGY COMPANY (Inactive)
04     SAN JOAQUIN ENERGY COMPANY (GP)
05        Midway-Sunset Cogeneration Company, LP 50%
          Address:  3466 West Crocker Springs Road, Fellows, CA 93224
04     SAN JUAN ENERGY COMPANY (GP)
05        March Point Cogeneration Company 50%
04     SAN PEDRO ENERGY COMPANY (GP)
05        Riverhead Cogeneration II, LP (Delaware partnership) 50%; 100% w/ Riverport
04     SANTA ANA ENERGY COMPANY (GP)
05        Riverhead Cogeneration III, LP (Delaware partnership) 50%; 100% w/ Indian Bay
04     SANTA CLARA ENERGY COMPANY (GP)
05        North Shore Energy, LP (Delaware partnership) 50%; 100% w/ Reeves Bay
06            Northville Energy Corporation (New York corporation) 100%
04     SILVERADO ENERGY COMPANY (GP)
05        Coalinga Cogeneration Company 50%
          Address:  32812 West Gate Road, Bakersfield, CA 93210
04     SILVER SPRINGS ENERGY COMPANY
05        Georgia Peaker, LP (Delaware limited partnership) 50%; 100% w/ Lakeview
04     SONOMA GEOTHERMAL COMPANY (Inactive)


23


04     SOUTH COAST ENERGY COMPANY (GP)
05        Harbor Cogeneration Company 30% [See 4.EME04]
          Address:  420 Henry Ford Avenue, Wilmington, CA 93210
04     SOUTHERN SIERRA ENERGY COMPANY (GP)
05        Kern River Cogeneration Company (general partnership) 50%
          Address:  SW China Grade Loop, Bakersfield, CA 93308
04     THOROFARE ENERGY COMPANY (Inactive)
04     VIEJO ENERGY COMPANY (GP)
05        Sargent Canyon Cogeneration Company 50%
          Address:  Star Route 42, Sargents Road, San Ardo, CA 93450
04     VISTA ENERGY COMPANY (New Jersey corporation) (Inactive)
04     WESTERN SIERRA ENERGY COMPANY (GP)
05        Sycamore Cogeneration Company (general partnership) 50%
          Address:  SW China Grade Loop, Bakersfield, CA 93308

EDISON MISSION ENERGY INTERNATIONAL COMPANIES [all foreign corporation names bold]:
05        MEC International B.V. (Netherlands corporation) (Holding Company 99.99% owned by Mission Energy
          Holdings International, Inc., a California corp. (owns 100% of Class A Shares) and 0.01% by EME UK
          International LLC, a Delaware LLC (owns 100% of Class B shares)
          Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
06            Adelaide Ventures Ltd. (Cayman Island company) 100%
              Address:  Walker House, Mary Street, P.O. Box 265GT, George Town, Grand Cayman, Cayman Islands
06            Beheer-en Beleggingsmaatschappij Jydeno B.V. 100%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               Vindoor Investments (Mauritius) Limited 10%
                 Address:  BAI Building, 5th Floor, Pope Hennessey Street, Port Luis, Mauritius
08                  Coaltrade Services International Pte Ltd 100%
                    Address:  10 Anson Road, #18-12, International Plaza, Singapore 079903
06            Edison Mission Advantage B.V. 100%
              Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               Edison Mission LYB PEDS Pty Ltd (formerly Edison Mission De Laide Pty Ltd. (Australian company)
                 100%
                 Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
                 Australia
06            Edison Mission Energy Asia Pte Ltd. (Singapore private
              company limited by shares) 100% (EME's Regional Asia Pacific Headquarters)
              Address:  391-B Orchard Road, Ngee Ann City, Tower B, 14th Floor, #14-08/10, Singapore 238874
07               Edison Mission Energy Asia Pacific Pte Ltd. (Singapore corporation) 100%
                 Address:  391-B Orchard Road, Ngee Ann City, Tower B, 14th Floor, #14-08/10, Singapore 238874
07               Edison Mission Energy Fuel Company Pte Ltd. (Singapore corporation) 100%
                 Address:  391-B Orchard Road, Ngee Ann City, Tower B, 14th Floor, #14-08/10, Singapore 238874
07               Edison Mission Operation & Maintenance Services Pte Ltd 100%
                 Address:  391-B Orchard Road, Ngee Ann City, Tower B, 14th Floor, #14-08/10, Singapore 238874
07               P.T. Edison Mission Operation and Maintenance Indonesia (Indonesian company) 99%
                 Address:  Jl. Gen. A Yani No. 54 Probolinggo, East Java, Indonesia
06            Edison Mission Energy International B.V. (Netherlands company) 99%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
06            Edison Mission Energy Services B.V. (Netherlands co.) 100%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
06            Edison Mission Millennium B.V. (Netherlands company) 100%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               EME Caliraya B.V. (formerly Beheer-en Beleggingsmaatschappij Trepo B.V. 75%
                 Address:  Apollolaan 15, 1077 AB Amsterdam, The Netherlands


24


08                  CBK Power Company Ltd. (Philippine LP) 49%
                    Address:  1701 One Magnificent Mile Building, San Miguel Avenue, Ortigas Center, Pasig City,
                    Philippines [See 4.EME23]
07               EME Kayalaan B.V. (formerly Beheer-en Beleggingsmaatschappij Hagra B.V. 100%
                 Address:  Apollolaan 15, 1077 AB Amsterdam, The Netherlands
08                  CBK Power Company Ltd. (Philippine LP) 1%
                    Address:  1701 One Magnificent Mile Building, San Miguel Avenue, Ortigas Center, Pasig City,
                    Philippines [See 4.EME23]
06            Edison Mission Operation & Maintenance Services B.V. (Netherlands company) 100%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               Edison Mission Operation & Maintenance (Thailand) Company Limited 100%
                 Address:  7th Fl. Bubhajit Bldg., 20 North Sathorn Road, Kwaeng Silom, Khet Bangrak, Bangkok
07               EME Philippines Services Corporation [formerly EME Philippines OandM Corporation (Philippines
                 co.) 100%
                 Address:  Unit 1105, Tower One, Ayala Triangle, Ayala Avenue, Makati City, Philippines
07               Kalayaan Power Management Corporation 50% [EWG] [See 4.EME24]
                 Address:  1701 One Magnificent Mile Building, San Miguel Avenue, Ortigas Center, Pasig City,
                 Philippines
06            Edison Mission Wind Power Italy B.V. (formerly IVPC Energy 5 B.V.) 100%
              Address:  Apollolaan 15, 1077 AB Amsterdam, The Netherlands
07               Italian Vento Power Corporation 4 S.r.l. (joint venture) 50% [See 4.EME21]
                 Address:  Via Circumvallazione, 54/h, 83100 Avellino, Italy
06            EME Atlantic Holdings Limited (UK company) 100%
              Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               EME Ascot Limited (UK company) 100% [Contact Energy Project, 2nd Stage]
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
08                  EME Buckingham Limited (UK company) 100% [Contact Energy Project, 2nd Stage]
                    Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
09                      EME Precision B.V. (Netherlands company) (formerly Beheer-en-Beleggingsmaatschappij Pylamo
                        B.V.) 100% [Contact Energy Project, 2nd Stage]
                        Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
10                         Mission Energy Universal Holdings [formerly EME Universal Holdings (New Zealand
                           company) 100% [Contact Energy Project, 2nd Stage]
                           Address:  Lansdowne House, Berkeley Square, London W1X 5DH
                           England
11                            Contact Energy Limited (New Zealand company) (equity) 0.624% [See 4.EME10]
                              Address:  Level 1, Harbor City Tower, 29 Brandon Street, Box 10-742, Wellington,
                              New Zealand
11                            Mission Contact Finance Limited (New Zealand company) 100%
                              Address:  Bell Gully, IBM Centre, 171 Featherston Street, Wellington, New Zealand
11                            Mission Energy Five Star (New Zealand company) 100%
                              Address:  IBM Centre, 171 Featherston Street, Wellington, New
                              Zealand
11                            Mission Energy Pacific Holdings [formerly EME Pacific Holdings (New Zealand
                              company) 100% [Contact Energy Project, 2nd Stage]
                              Address:  IBM Centre, 171 Featherston Street, Wellington, New
                              Zealand
12                               Contact Energy Limited (New Zealand company) (equity) 50.598%
                                 [See 4.EME09]
06            EME Tri Gen B.V. 100%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               Tri Energy Company Limited (Thai limited liability company) (Tri Energy Project) (equity) 25%
                 [See 4.EME13]
                 Address:  Grand, Amarin Tower, 16th Floor, New Petchburi Road, Ratchathewi, Bangkok 10320
                 Thailand


25


06            EME Victoria B.V. 100% (Inactive)
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
06            First Hydro Renewables Limited, a UK company 100%
              Address:  Dinorwig Power Station, Llamberis, Gwynedd, LL55 4TY, Wales
07               Celtic Offshore Wind Limited 96%
                 Address:  The Long Barn, Waen Farm, Nercwys Road, Mold, Flintshire, CH7 4ED, Wales
07               First Hydro Renewables (COWL) Limited 100%
                 Address:  Dinorwig Power Station, Llamberis, Gwynedd, LL55 4TY, Wales
06            Global Generation B.V. 100%
              Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
07               Caresale Services Limited (UK LLC) 49%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               Edison First Power Holdings II (UK LLC) 100% [PowerGen project]
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
08                  Edison First Power Holdings I (UK LLC) 100% [PowerGen project]
                    Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
09                      Caresale Services Limited (UK LLC) 51%
                        Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
09                      Edison Mission Marketing and Services Limited (UK company) 100%
                        Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
09                      EME Finance UK Limited (UK LLC) 100%
                        Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
09                      South Australian Holdings Ltd. 100%
                        Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
10                         Edison Mission Retail Pty Ltd. (Australian co.) 100%
                           Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                           Victoria, Australia
10                         Edison Mission Utilities Pty. Ltd. (Australian company) 100%
                           Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                           Victoria, Australia
10                         EME International Dragon Limited (UK) 100%
                           Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
11                            Edison Mission Ausone Pty Ltd. (Australian co.) 100%
                              Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne,
                              3205 Victoria, Australia
11                            EME Adelaide Energy Ltd. (UK company) 100%
                              Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
11                            EME Monet Ltd. (UK company) 100%
                              Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
12                               Edison Mission Vendesi Pty Ltd. (Australian company) 100%
                                 Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne,
                                 3205 Victoria, Australia
08                  Energy Generation Finance PLC (UK) 100%
                    Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
08                  Maplekey Holdings Limited (UK LLC) 100%
                    Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
09                      Maplekey UK Finance Limited (UK company) 100%
                        Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
10                         Maplekey UK Limited (UK LLC) 100%
                           Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
11                            Edison First Power Limited (Guernsey LLC) 100% [See 4.EME16]
                              Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
                              [sold interests in Fiddler's Ferry and Ferrybridge on 12/21/2001]
07               Redbill Contracts Limited (UK LLC) 100%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
06            Hydro Energy B.V. (Netherlands LLC) 10%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands


26


07               Iberica de Energias, S.L. (Spain corporation) 96.65% [See 4.EME17]
                 Address:  Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain
08                  Electrometalurgica del Ebro, S.L. ("EMESA") (Spain corporation) 91.32% [See 4.EME18]
                    Address:  Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain
09                      Monasterio de Rueda, S.L. (Spain) 100%
                        Address:  Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain
06            Iberian Hy-Power Amsterdam B.V. (Netherlands LLC) 100%
              Address:  Strawinskylaan 1725, Amsterdam, NOORD-HOLL 1077 XX
07               EME Desarrello Espana S.L. 100%
                 Address:  Paseo de Gracia 18, 4o. Piso, 08007, Barcelona, Spain
07               Hydro Energy B.V. (Netherlands company) 90%
08                  Iberica de Energias, S.L. (Spain corporation) 96.65% [See 4.EME17]
09                      Electrometalurgica del Ebro, S.L. ("EMESA") (Spain corporation) 91.32%
                        [See 4.EME18]
10                         Monasterio de Rueda, S.L. (Spain) 100%
07               Iberica de Energias, S.L. (Spain corporation) 3.35% [See 4.EME17]
08                  Electrometalurgica del Ebro, S.L. ("EMESA") (Spain corporation) 91.32%
                    [See 4.EME18]
09                      Monasterio de Rueda, S.L. (Spain) 100%
06            Latrobe Power Pty. Ltd. (Australian corporation) 99%
              Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
              Australia
07               Mission Victoria Partnership (Australian partnership) 52.31% (100% w/ Traralgon PPL 46.69% and
                 MEVALP 1%)
08                  Latrobe Power Partnership (Australian partnership) 99%
09                      Loy Yang B Joint Venture 51% [See 4.EME11]
                        Address:  Bartons Lane, Loy Yang, Victoria, Australia 3844
06            Latrobe Valley B.V. [formerly Beheer-en Beleggingsmaatschappij Botara B.V.] (LYB Peakers Project)
              100%
              Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               Valley Power Pty Ltd. (proprietary limited Australia company; LYB Peakers Project)
                 Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
                 Australia
06            Loy Yang Holdings Pty Ltd (Australia corporation) 100%
              Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
              Australia
07               Edison Mission Energy Holdings Pty Ltd (Australian corporation) 100%
                 Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
                 Australia
08                  Edison Mission Energy Australia Ltd. (Australian public company) 100%
                    Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                    Victoria, Australia
09                      Latrobe Power Partnership (Australian partnership) 1%
                        Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                        Victoria, Australia
10                         Loy Yang B Joint Venture 51% [See 4.EME11]
08                  Edison Mission Energy Australia Pilbara Power Ltd. (Australia company) 100%
                    Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                    Victoria, Australia
08                  Edison Mission Operation & Maintenance Kwinana Pty Ltd. (Australia) 100% (Operator of Kwinana
                    Project)
                    Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                    Victoria, Australia
08                  Edison Mission Operation & Maintenance Loy Yang Pty Ltd. (Australian corporation) 100%
                    Address:  P.O. Box 1792, Traralgon, Victoria 3844, Australia


27


08                  Mission Energy Holdings Superannuation Fund Pty Ltd. (retirement fund required by Australia
                    law) 100%
08                  Mission Energy (Kwinana) Pty Ltd. (Australia) 100%
                    Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                    Victoria, Australia
09                      Kwinana Power Partnership (Australian G.P.) 1%
                        Address:  Level 23, St. Martins Tower, 44 St George's Terrace, Perth WA 6000
10                         Perth Power Partnership 70% (Kwinana Project) [See 4.EME10]
                           Address:  James Court, Kwinana Beach 6167, Western Australia
07               Latrobe Power Pty. Ltd. (Australian corporation) 1%
08                  Mission Victoria Partnership (Australian partnership) 52.31%
09                      Latrobe Power Partnership (Australian partnership) 99%
10                         Loy Yang B Joint Venture 51% [See 4.EME11]
07               Mission Energy Ventures Australia Pty. Ltd. (Australian company) 100%
                 Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
                 Australia
08                  Mission Victoria Partnership (Australian partnership) 1%
09                      Latrobe Power Partnership (Australian partnership) 99%
10                         Loy Yang B Joint Venture 51% [See 4.EME11]
07               Traralgon Power Pty. Ltd. (Australian corporation) 1%
                 Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
                 Australia
08                  Mission Victoria Partnership (Australian partnership) 46.69%
09                      Latrobe Power Partnership (Australian partnership) 99%
10                         Loy Yang B Joint Venture 51% [See 4.EME11]
06            MEC Esenyurt B.V. (Netherlands company) (Doga Project) 99%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               Doga Enerji Uretim Sanayi ve Ticaret L.S. (Turkish corp.) (Project company) 80% [See 4.EME22]
                 Address:  Merkez Mahallesi, Birlik Caddesi 11/8, Esenyurt, Istanbul, Turkey
07               Doga Isi Satis Hizmetleri ve Ticaret L.S. (Turkish corporation) (Heat company) 80%
                 Address:  Merkez Mahallesi, Birlik Caddesi 11/8, Esenyurt, Istanbul, Turkey
07               Doga Isletme ve Bakim Ticaret L.S. (Turkish corporation) (OandM company) 80%
                 Address:  Merkez Mahallesi, Birlik Caddesi 11/8, Esenyurt, Istanbul, Turkey
06            MEC IES B.V. (Netherlands company) (ISAB Project) 99%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               ISAB Energy Services s.r.l. 49% (services co ISAB Project)
                 Address:  Ex S.S. 114km 146, 96100 Priolo G (SR), Sicily, Italy
06            MEC India B.V. (Netherlands company) (Jojobera Project) 99%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               Edison Mission Energy Power (Mauritius corporation) (Branch office in India)
                 Address:  Louis Leconte Street, Curepipe, Mauritius
06            MEC Indo Coal B.V. (Netherlands co.) (Adaro Project) 99%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               P. T. Adaro Indonesia (equity) 8.17%
                 Address:  Suite 704, World Trade Centre, Jl. Jend. Sudirman Kav. 31, Jakarta 12920 Indonesia
06            MEC Indonesia B.V. (Netherlands company) 99%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               PT. Paiton Energy (Indonesia company) (equity) (Paiton Project) 40% [See 4.EME12]
                 Address:  Jl. Raya Surabaya Situbondo KM 141, Paiton 67291, Probolinggo, East Java, Indonesia
06            MEC International Holdings B.V. (Netherlands corporation) 100%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               Edison Mission Energy International B.V. (Netherlands company) 1%
07               MEC Esenyurt B.V. (Netherlands co.) (Doga Project) 1%
08                  Doga Enerji Uretim Sanayi ve Ticaret L.S. (Turkish corp.) (Project company) 80% [See 4.EME22]


28


08                  Doga Isi Satis Hizmetleri ve Ticaret L.S. (Turkish corporation) (Heat company) 80%
08                  Doga Isletme ve Bakim Ticaret L.S. (Turkish corporation) (OandM company) 80%
07               MEC IES B.V. (Netherlands company) (ISAB Project) 1%
08                  ISAB Energy Services s.r.l. 49%
07               MEC India B.V. (Netherlands company) 1%
08                  Edison Mission Energy Power (Mauritius corporation)
07               MEC Indo Coal B.V. (Netherlands co.) (Adaro Project) 1%
08                  P. T. Adaro Indonesia (equity) 8.17%
07               MEC Indonesia B.V. (Netherlands company) 1%
08                  PT. Paiton Energy (Indonesia company) (equity) (Paiton Project) 40% [See 4.EME12]
07               MEC Laguna Power B.V. (Netherlands company) (Thailand Project) 1%
08                  Gulf Power Generation Co. Ltd. (Bangkok corp.) 40%
07               MEC Perth B.V. (Netherlands company) (Kwinana Project) 1%
08                  Kwinana Power Partnership (Australian G.P.) 99%
09                      Perth Power Partnership 70% (Kwinana Project) [See 4.EME10]
07               MEC Priolo B.V. (Netherlands company) (ISAB Project) 1%
08                  ISAB Energy, s.r.l. (Italian J.V. company) (equity) 1% of 49% (quota, not shares)
                    [See 4.EME20]
07               MEC San Pascual B.V. (Netherlands company) 1%
08                  San Pascual Cogeneration Company International B.V. 50%
09                      San Pascual Cogeneration Company (Philippines) Ltd. (San Pascual Project) (equity) 1%GP
                        and 74%LP
08                  Morningstar Holdings B.V. (formerly Beheer-en Beleggingsmaatschappij Vestra B.V.) 50%
07               MEC Sidi Krir B.V. (Netherlands company) 1%
07               MEC Sumatra B.V. (Netherlands company) 1%
07               MEC Wales B.V. (Netherlands Company) 1%
08                  Mission Hydro Limited Partnership (UK LP)
09                      EME Generation Holdings Limited (UK Co.) 100%
10                         Loyvic Pty Ltd. (Australia company) 100%
11                            Energy Capital Partnership (Australia partnership) 1%
12                               Enerloy Pty Ltd. (Australia co.) 100%
10                         EME Victoria Generation Limited (UK co.) 100%
11                            Energy Capital Partnership (Australia partnership 98%
12                               Enerloy Pty Ltd. (Australia company) 100%
11                            Mission Energy Development Australia Pty Ltd.
12                               Gippsland Power Pty Ltd 100%
13                                   Loy Yang B Joint Venture 49% [See 4.EME11]
10                         Energy Capital Partnership (Australia partnership) 1%LP
11                            Enerloy Pty Ltd. (Australia company) 100%
10                         First Hydro Holdings Company (Australia partnership) 99%
11                            First Hydro Company 99% [See 4.EME15]
11                            First Hydro Finance plc 100%
12                               First Hydro Company 1% [See 4.EME15]
07               Mission Energy Italia s.r.l. 10% (Office in Italy)
                 Address:  via Mar della Cina, 304, 00144 Rome, Italy
07               P.T. Edison Mission Operation and Maintenance Indonesia (Indonesian company) 1%
                 Address:  Jl. Raya Surabaya Situbondo Km 141, P.O. Box
                 78, Paiton 67291, Probolinggo, East Java, Indonesia
06            MEC Laguna Power B.V. (Netherlands co) (Malaya Proj) 99%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               Gulf Power Generation Co. Ltd. (Bangkok corporation) 40%
                 Address:  888/101 Mahatun Plaza Tower, 10th Floor, Ploenchit, Lumphini, Patumwan, Bangkok 10330
06            MEC Perth B.V. (Netherlands co.) (Kwinana Project) 99%
07               Kwinana Power Partnership (Australian G.P.) 99%
                 Address:  Level 23, St. Martins Tower, 44 St George's Terrace, Perth WA 6000


29


08                  Perth Power Partnership 70% (Kwinana Project) [See 4.EME10]
                    Address:  James Court, Kwinana Beach 6167, Western Australia
06            MEC Priolo B.V. (Netherlands co.) (ISAB Project) 99%
              Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               ISAB Energy, s.r.l. (Italian J.V. company) (equity) 99% of 49% (quota, not shares)
                 [See 4.EME20]
                 Address:  Corso Gelone No. 103, Siracusa, Sicily, Italy
06            MEC San Pascual B.V. (Netherlands company) 99%
              Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
07               San Pascual Cogeneration Company International B.V. 50%
                 Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
08                  San Pascual Cogeneration Company (Philippines) Ltd (San Pascual Project) (equity) 1%GP and
                    74%LP
                    Address:  Unit 1610/1611, Tower One, Ayala Triangle, Ayala Ave, 1200 Makati City, Metro
                    Manila, Philippines
07               Morningstar Holdings B.V. (formerly Beheer-en Beleggingsmaatschappij Vestra B.V.) 50%
                 Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
06            MEC Sidi Krir B.V. (Netherlands company) 99%
              Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06            MEC Sumatra B.V. (Netherlands company) 99%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
06            MEC Wales B.V. (Netherlands company) 99%
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
07               Mission Hydro Limited Partnership 69%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
08                  EME Generation Holdings Limited (UK company) 100%
                    Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
09                      Loyvic Pty Ltd. (Australia company) 100%
                        Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                        Victoria, Australia
10                         Energy Capital Partnership (Australia partnership) 1%
                           Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                           Victoria, Australia
11                            Enerloy Pty Ltd. (Australia company) 100%
                              Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne,
                              3205 Victoria, Australia
09                      EME Victoria Generation Limited (UK company) 100%
                        Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
10                         Energy Capital Partnership (Australia partnership 98%
11                            Enerloy Pty Ltd. (Australia company) 100%
10                         Mission Energy Development Australia Pty Ltd. 100%
                           Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
                           Victoria, Australia
11                            Gippsland Power Pty Ltd 100%
                              Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne,
                              3205 Victoria, Australia
12                               Loy Yang B Joint Venture 49% [See 4.EME11]
                                 Address: Bartons Lane, Loy Yang, Victoria, Australia 3844
09                      Energy Capital Partnership (Australia partnership) 1%LP
10                         Enerloy Pty Ltd. (Australia company) 100%
09                      First Hydro Holdings Company (Australia partnership) 99%
                        Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
10                         First Hydro Company 99% [See 4.EME15]
                           Address:  Bala House, St. David's Park, Ewloe, Dlwyd, Wales CH5 3XJ
10                         First Hydro Finance plc 100%
                           Address:  Lansdowne House, Berkeley Square, London W1X 5DH England


30


11                            First Hydro Company 1% [See 4.EME15]
                              Address:  Bala House, St. David's Park, Ewloe, Dlwyd, Wales CH5 3XJ
06            Mission Energy Company (UK) Limited (United Kingdom private limited company) 100%
              Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               Derwent Cogeneration Limited (United Kingdom private limited liability company) (equity) 33%
                 [See 4.EME14]
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               Edison Mission Energy Limited (UK private limited company) 100%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               Edison Mission Operation & Maintenance Limited (a United Kingdom corporation) 100%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               Edison Mission Services Limited (UK private limited company) 100%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               Mission Hydro (UK) Limited 100%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
08                  First Hydro Holdings Company 1%
09                      First Hydro Company 99% [See 4.EME15]
09                      First Hydro Finance plc 100%
10                         First Hydro Company 1% [See 4.EME15]
08                  Mission Hydro Limited Partnership 1%GP
09                      EME Generation Holdings Limited (UK co.) 100%
10                         Loyvic Pty Ltd. (Australia company) 100%
11                            Energy Capital Partnership (Australia partnership) 1%
12                               Enerloy Pty Ltd. (Australia co.) 100%
10                         EME Victoria Generation Limited (UK co.) 100%
11                            Energy Capital Partnership (Australia partnership 98%
12                               Enerloy Pty Ltd. (Australia co.) 100%
11                            Mission Energy Development Australia Pty Ltd.
12                               Gippsland Power Pty Ltd 100%
13                                   Loy Yang B Joint Venture 49% [See 4.EME11]
10                         Energy Capital Partnership (Australia partnership) 1%LP
11                            Enerloy Pty Ltd. (Australia company) 100%
10                         First Hydro Holdings Company (Australia partnership) 99%
11                            First Hydro Company 99% [See 4.EME15]
11                            First Hydro Finance plc 99%
12                               First Hydro Company 1% [See 4.EME15]
07               Pride Hold Limited (United Kingdom corp.) 99%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
08                  Lakeland Power Ltd. (United Kingdom private limited liability company) 100%
                    [See 4.EME19]
                    Address:  Roosecote Power Station, Barrow-In-Furness, Cumbria, England LA13 OPQ
08                  Lakeland Power Development Company (UK corp.) 100%
                    Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               Rapid Energy Limited
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
06            Mission Energy Italia s.r.l. 90% Rep Office in Italy
              Address: Villa Brasini, Via Flaminia 497, 00191 Rome Italy
06            Mission NZ Operations B.V. 100% (Inactive)
              Address:  Croeselaan 18, 3500 GT Utrecht, The Netherlands
06            Pride Hold Limited (United Kingdom corporation) 1%
              Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               Lakeland Power Development Company (UK corp.) 100%
                 Address:  Lansdowne House, Berkeley Square, London W1X 5DH England
07               Lakeland Power Ltd. (United Kingdom private limited liability company) 100% [See 4.EME19]
                 Address:  Roosecote Power Station, Barrow-In-Furness, Cumbria, England LA13 OPQ


31


06            EcoElectrica S.a.r.l. (Luxemburg)
              Address:  12-16, Avenue Monterey, L-2163 Luxembourg
07               EME del Caribe Holding GmbH (Austria)
                 Address:  4020 Linz, Landstrasse 12, Austria
08                  EME del Caribe (Cayman Islands)
                    Address:  First Floor, Caledonian House, Mary St, George Town, Grand Cayman, Cayman Islands
09                      EcoElectrica Holdings, Ltd. (Cayman Islands) 50%
                        Address:  1350 GT, The Huntlaw Building, Fort Street, Grand Cayman, Cayman Islands
10                         EcoElectrica Ltd. (Cayman Islands) 100%
                           Address:  1350 GT, The Huntlaw Building, Fort Street, Grand Cayman, Cayman Islands
11                            EcoElectrica LP (Bermuda partnership) (equity) 1% [See 4.EME08]
                              Address:  Plaza Scotiabank, 273 Ponce de Leon Avenue, Suite 902, Hato Rey, Puerto
                              Rico 00918
10                         EcoElectrica LP (Bermuda partnership) (equity) 99% [See 4.EME08]
                           Address:  Plaza Scotiabank, Suite 902, Avenida Ponce de Leon 273, Hato Rey, Puerto
                           Rico 00918
06            Southwestern Generation B.V. 100%
              Address:  Croeselaan 18, 3521 CB Utrecht, The Netherlands
06            Traralgon Power Pty. Ltd. (Australian corporation) 99%
              Address:  Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
              Australia
07               Mission Victoria Partnership (Australian partnership) 46.69% (100% w/ Latrobe PPL 52.31% and
                 MEVALP 1%)
08                  Latrobe Power Partnership (Australian partnership) 99%
09                      Loy Yang B Joint Venture 51% [See 4.EME11]




32


2.  A BRIEF DESCRIPTION OF THE PROPERTIES OF CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES USED
FOR THE GENERATION, TRANSMISSION, AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE, OR FOR THE PRODUCTION,
TRANSMISSION AND DISTRIBUTION OF NATURAL OR MANUFACTURED GAS, INDICATING THE LOCATION OF PRINCIPAL GENERATING
PLANTS, TRANSMISSION LINES, PRODUCING FIELDS, GAS MANUFACTURING PLANTS, AND ELECTRIC AND GAS DISTRIBUTION
FACILITIES, INCLUDING ALL SUCH PROPERTIES WHICH ARE OUTSIDE THE STATE IN WHICH CLAIMANT AND ITS SUBSIDIARIES ARE
ORGANIZED AND ALL TRANSMISSION OR PIPELINES WHICH DELIVER OR RECEIVE ELECTRIC ENERGY OR GAS AT THE BORDERS OF
SUCH STATE.

Claimant is not a "public utility company" as that term is defined in the Public Utility Holding Company Act of
1935 (the "Act") and does not own any properties used for the generation, transmission and distribution of
electric energy for sale, or for the production, transmission and distribution of natural or manufactured gas.
None of Claimant's subsidiaries, other than SCE, is a public utility company.  SCE is an "electric utility
company" as defined in the Act and owns properties used for the generation, transmission and distribution of
electric energy for sale, as described herein.

SCE owns and operates one diesel-fueled generating plant, 36 hydroelectric plants (plus two fishwater generators
shown in the detail below) and an undivided 75.05% interest in Units 2 and 3 of the San Onofre Nuclear Generating
Station.  These plants are located in Central and Southern California.  Of the above mentioned hydroelectric
plants, one of them, along with the diesel-fueled generating plant, serve isolated load on Catalina Island.  SCE
also owns an undivided 15.8% interest in Units 1, 2 and 3 of the Palo Verde Nuclear Generating Station, located
near Phoenix, Arizona, and an undivided 48% interest in Units 4 and 5 of the Four Corners Project, a coal-fueled
steam electric generating plant in New Mexico, all of which are operated by other utilities.  SCE operates and
owns a 56% undivided interest in two coal-fueled steam electric generating units at the Mohave Project in Clark
County, Nevada.  Schedule I attached hereto contains a list of all of the SCE-owned generating plants with their
locations, initial dates of operation and generator nameplate ratings.

SCE's transmission facilities consist of approximately 7,225.3 circuit miles of 33kV, 55kV, 66kV, 115kV and 161kV
lines, 3,523.6 circuit miles of 220kV lines, and 1235.9 circuit miles of 500kV lines consisting of 998.4 miles in
California, 125.4 miles in Nevada and 112.1 miles in Arizona.  SCE's distribution facilities consist of
approximately 60,739.1 overhead circuit miles and 33,973.9 underground circuit miles, and 563 distribution
substations, all of which are located in California.



33


3.  THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR WITH RESPECT TO CLAIMANT AND EACH OF ITS SUBSIDIARY
PUBLIC UTILITY COMPANIES:

(a)  NUMBER OF KWH. OF ELECTRIC ENERGY SOLD (AT RETAIL OR WHOLESALE), AND MCF. OF NATURAL OR MANUFACTURED GAS
DISTRIBUTED AT RETAIL.

Claimant:  None.
SCE:
(1)  78,453,624,000 kwh of electric energy sold at retail.
(2)  $7,393,728,255 of total revenues from such sales.

(b)  NUMBER OF KWH. OF ELECTRIC ENERGY AND MCF. OF NATURAL OR MANUFACTURED GAS DISTRIBUTED AT RETAIL OUTSIDE THE
STATE IN WHICH EACH COMPANY IS ORGANIZED.

Claimant:  None.
SCE:  None.

(c)  NUMBER OF KWH. OF ELECTRIC ENERGY AND MCF. OF NATURAL OR MANUFACTURED GAS SOLD AT WHOLESALE OUTSIDE THE
STATE IN WHICH EACH SUCH COMPANY IS ORGANIZED, OR AT THE STATE LINE.

Claimant:  None.
SCE:
(1)  57,980,000 kwh of electric energy sold at wholesale outside of California or at the state line.
(2)  $24,997,373 of total revenues from such sales.

(d)  NUMBER OF KWH. OF ELECTRIC ENERGY AND MCF. OF NATURAL OR MANUFACTURED GAS PURCHASED OUTSIDE THE STATE IN
WHICH EACH SUCH COMPANY IS ORGANIZED OR AT THE STATE LINE.

Claimant:  None.
SCE:
(1)  1,692,768,170 kwh of electric energy purchased at wholesale outside of California or at the state line.
(2)  $191,257,254 of total expenses from such purchases.



34


4.  THE FOLLOWING INFORMATION FOR THE REPORTING PERIOD WITH RESPECT TO CLAIMANT AND EACH INTEREST IT HOLDS
DIRECTLY OR INDIRECTLY IN AN EWG OR A FOREIGN UTILITY COMPANY, STATING MONETARY AMOUNTS IN UNITED STATES DOLLARS:

(a)  NAME, LOCATION, BUSINESS ADDRESS AND DESCRIPTION OF THE FACILITIES USED BY THE EWG OR FOREIGN UTILITY
COMPANY FOR THE GENERATION, TRANSMISSION AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE OR FOR THE DISTRIBUTION AT
RETAIL OF NATURAL OR MANUFACTURED GAS.

(b)  NAME OF EACH SYSTEM COMPANY THAT HOLDS AN INTEREST IN SUCH EWG OR FOREIGN UTILITY COMPANY; AND DESCRIPTION
OF THE INTEREST HELD.

(c)  TYPE AND AMOUNT OF CAPITAL INVESTED, DIRECTLY OR INDIRECTLY, BY THE HOLDING COMPANY CLAIMING EXEMPTION; ANY
DIRECT OR INDIRECT GUARANTEE OF THE SECURITY OF THE EWG OR FOREIGN UTILITY COMPANY BY THE HOLDING COMPANY
CLAIMING EXEMPTION; AND ANY DEBT OR OTHER FINANCIAL OBLIGATION FOR WHICH THERE IS RECOURSE, DIRECTLY OR
INDIRECTLY, TO THE HOLDING COMPANY CLAIMING EXEMPTION OR ANOTHER SYSTEM COMPANY, OTHER THAN THE EWG OR FOREIGN
UTILITY COMPANY.

(d)  CAPITALIZATION AND EARNINGS OF THE EWG OR FOREIGN UTILITY COMPANY DURING THE REPORTING PERIOD.

(e)  IDENTIFY ANY SERVICE, SALES OR CONSTRUCTION CONTRACT(S) BETWEEN THE EWG OR FOREIGN UTILITY COMPANY AND A
SYSTEM COMPANY, AND DESCRIBE THE SERVICES TO BE RENDERED OR GOODS SOLD AND FEES OR REVENUES UNDER SUCH
AGREEMENT(S).


                                                  EDISON CAPITAL

4.EC01  ELECTRICIDAD DE LA PAZ S.A. [FUCO]

(a)  Electricidad de la Paz S.A. ("Electropaz"), Avenida Illimani 1973, Casilla 10511, La Paz, Bolivia.

Electropaz's facilities consists of substations and distribution lines serving approximately 290,000 retail
customers in La Paz and El Alto, Boliva.  Electropaz does not own generation or transmission facilities.

(b)  Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company; Edison Funding Company owns 100% of Mission Funding Epsilon; Mission
Funding Epsilon through its wholly owned subsidiary, Edison Capital International (Bermuda) Ltd. owns a 14%
interest in Electropaz.  Iberdrola II Investimentos Ltda is the majority owner of Electropaz; Banco Santander
Central Hispanoamericano S.A. owns a 10% interest; and Paz Holdings Ltd. owns a 32.9% interest. The voting
securities of Paz Holdings Ltd, 30.42%, are held by Edison Capital International (Bermuda) Ltd., with 43.22% held
by Andes Energy XII Ltd. and 26.36% held by GE Capital Services Structured Finance Group, Inc.  Andes Energy XII
is wholly-owned by AIG-GE Capital Latin American Infrastructure Fund L.P. in which Edison Capital Latin American
Investments (Bermuda) Ltd. holds an indirect 7.89% interest.  Edison Capital Latin American Investments (Bermuda)
Ltd. is a wholly owned indirect subsidiary of Edison Capital.

(c)  Capital contributions were made by Edison Capital through its indirectly, wholly owned subsidiary Edison
Capital International (Bermuda) Ltd., in the amount of $7.0 million.

(d)  Capitalization or total equity for the period ending December 31, 2000 = $48,625,985
Net income after taxes for 2000 = $7,000,150

(e)  There are no service, sales or construction contracts between Electropaz and any system company.




35


4.EC02  EMPRESA DE LUZ Y FUERZA ELECTRICA DE ORURO S.A. [FUCO]

(a)  Empresa de Luz y Fuerza Electrica de Oruro S.A. ("Elfeo"), Calle Junin No. 71, Casilla 53, Oruro, Boliva.

Elfeo's facilities used for the generation, transmission, or distribution of electric energy for sale consist
primarily of substations and distribution lines serving approximately 40,600 retail customers in the cities of
Oruro and Huaruni.  Elfeo does not own generation or transmission facilities.

(b)  Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company; Edison Funding Company owns 100% of Mission Funding Epsilon; Mission
Funding Epsilon through its wholly owned subsidiary, Edison Capital International (Bermuda) Ltd. owns a 14%
interest in Elfeo. Iberdrola II Investimentos Ltda. is the majority owner of Elfeo with 60.52% interest, and Paz
Holdings Ltd. owns a 32.9% interest. The voting securities of Paz Holdings Ltd., 30.42%, are held by Edison
Capital International (Bermuda) Ltd., with 43.22% held by Andes Energy XII Ltd. and 26.36% held by GE Capital
Services Structured Finance Group, Inc.  Andes Energy XII is wholly-owned by AIG-GE Capital Latin American
Infrastructure Fund L.P. in which Edison Capital Latin American Investments (Bermuda) Ltd. holds an indirect
7.89% interest.  Edison Capital Latin American Investments (Bermuda) Ltd. is a wholly owned indirect subsidiary
of Edison Capital.

(c)  Capital contributions were made by Edison Capital through its indirectly, wholly owned subsidiary Edison
Capital International (Bermuda) Ltd, in the amount of $0.4 million.

(d)  Capitalization or total equity for the period ending December 31, 2000 = $5,131,180
Net income after taxes for 2000 = $419,420

(e)  There are no service, sales or construction contracts between Elfeo and any system company.


4.EC03  EPZ MISSION FUNDING MU TRUST [FUCO]

(a)  EPZ Mission Funding MU Trust ("EPZMFMT") c/o Wilmington Trust Company, Rodney Square North, 1100 North
Market Square, Wilmington, Delaware 19890-0004

EPZMFMT owns a 7.88% interest in the Amercentrale Power Station Unit 9, which is leased to N.V.
Elektriciteits-Produktiemaatshappij Zuid-Nederland ("EPZ"), a Netherlands Public Utility.  The Amercentrale Power
Station Unit 9 is a 600 megawatt (net) coal-fired cogeneration facility, with natural gas back-up capability,
located on 50 hectares (approximately 125 acres) at the Brabandt site in Geertruidenberg, approximately 50
kilometers southeast of Rotterdam, The Netherlands.

EPZMFMT has also acquired an undivided interest in or the right to use certain transmission facilities leading
from the Amercentrale Power Station to the 150 kV grid owned by Provinciale Noordbrabantse Energie-Maatschappij
("PNEM"), the distribution company that receives the power from Unit 9.  EPZMFMT also owns an interest in or
rights to use transformers and associated equipment of EPZ designed to step up the power from the 21 kV level at
the generator to the 150 kV level required to enter the PNEM system.  EPZMFMT has also acquired rights to use
certain other common facilities necessary to permit operation of Unit 9.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Edison Capital, which
owns 100% of Edison Funding Company, which owns 100% of Mission Funding Epsilon, which owns 100% of Mission
Funding Alpha, which owns 100% of Mission Funding Mu.  EPZMFMT is a business trust created under the laws of the
State of Delaware.  Mission Funding Mu is the 100% beneficial owner of the beneficial interest in EPZMFMT, the
foreign utility company.  Wilmington Trust Company is the trustee of the Trust.



36


(c)  Mission Funding Mu made a $13,000,000 equity investment in the sale/leaseback, and funds were borrowed on a
non-recourse basis in the amount of $87,000,000, in order to acquire the interest in the asset with a total cost
of $100,000,000.  Mission Funding Mu also incurred out-of-pocket costs and fees of approximately $1,750,000.

The Mission Funding Mu investment and the related obligations have been guaranteed by its parent, Mission Funding
Alpha.

(d)  Capitalization or total equity for the period ending December 31, 2001 = $24,296,678
Net income after taxes for 2001 = $947,380

(e)  There are no contracts between EPZ and any system company.


4.EC04  EPZ MISSION FUNDING NU TRUST [FUCO]

(a)  EPZ Mission Funding Nu Trust ("EPZMFNT") c/o Wilmington Trust Company, Rodney Square North, 1100 North
Market Square, Wilmington, Delaware 19890-0004

EPZMFNT owns a 17.72% interest in the Amercentrale Power Station Unit 9, which is leased to N.V.
Elektriciteits-Produktiemaatshappij Zuid-Nederland ("EPZ"), a Netherlands Public Utility.  The Amercentrale Power
Station Unit 9 is a 600 megawatt (net) coal-fired cogeneration facility, with natural gas back-up capability,
located on 50 hectares (approximately 125 acres) at the Brabandt site in Geertruidenberg, approximately 50
kilometers southeast of Rotterdam, The Netherlands.

EPZMFNT has also acquired an undivided interest in or the right to use certain transmission facilities leading
from the Amercentrale Power Station to the 150 kV grid owned by Provinciale Noordbrabantse Energie-Maatschappij
("PNEM"), the distribution company that receives the power from Unit 9.  EPZMFNT also owns an interest in or
rights to use transformers and associated equipment of EPZ designed to step up the power from the 21 kV level at
the generator to the 150 kV level required to enter the PNEM system.  EPZMFNT has also acquired rights to use
certain other common facilities necessary to permit operation of Unit 9.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Edison Capital, which
owns 100% of Edison Funding Company, which owns 100% of Mission Funding Epsilon, which owns 100% of Mission
Funding Delta, which owns 100% of Mission Funding Nu.  EPZMFNT is a business trust created under the laws of the
State of Delaware.  Mission Funding Nu is the 100% beneficial owner of the beneficial interest in EPZMFNT, the
foreign utility company.  Wilmington Trust Company is the trustee of the Trust.

(c)  Mission Funding Nu made a $29,250,000 equity investment in the sale/leaseback, and funds were borrowed on a
non-recourse basis in the amount of $195,750,000, in order to acquire the interest in the asset with a total cost
of $225,000,000.  Mission Funding Nu also incurred out-of-pocket costs and fees of approximately $3,937,500.

The Mission Funding Nu investment and the related obligations have been guaranteed by an affiliate, Mission
Housing Investments.

(d)  Capitalization or total equity for the period ending December 31, 2001 = $51,917,594
Net income after taxes for 2001 = $2,074,581

(e)  There are no contracts between EPZ and any system company.


4.EC05  LAKOTA RIDGE LLC [EWG]

(a)  Lakota Ridge, L.L.C. ("Lakota"), c/o DanMar & Associates, 520 Fifth Avenue SE, Pipestone, Minnesota 56164.



37


Lakota is an 11.25 megawatt wind-driven electric generation facility (the "Facility") located on the Buffalo
Ridge in southwestern Minnesota, consisting of 15 Micon M1800 750 kW wind turbines atop tubular-type towers.

(b)  Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company.  Edison Funding Company, through its wholly owned subsidiary,
Mission Funding Zeta, owns a 75% interest in Lakota and Heller Financial, Inc. owns a 24.9% interest.  Northern
Alternative Energy owns 0.1%.  The manager of the Facility is DanMar & Associates.

(c)  Edison Capital through its indirectly, wholly owned subsidiary, Mission Funding Zeta, made a capital
contribution of $4,667,030.

(d)  Capitalization or total equity for the period ending December 31, 2000 = $5,160,817
Net loss after taxes for 2000 = ($654,980)

(e)  There are no service, sales or construction contracts between Lakota and any system company.


4.EC06  SHAOKATAN HILLS LLC [EWG]

(a)  Shaokatan Hills L.L.C. ("Shaokatan"), c/o DanMar & Associates, 520 Fifth Avenue SE, Pipestone, Minnesota
56164.

Shaokatan is a 11.9 megawatt wind-driven electric generation facility (the "Facility") located on the Buffalo
Ridge in southwestern Minnesota, consisting of 18 Vestas V-44 660 kW wind turbines atop tubular type towers.

(b)  Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company.  Edison Funding Company, through its wholly owned subsidiary,
Mission Funding Zeta, owns a 75% interest in Shaokatan and Heller Financial, Inc. owns a 24.9% interest.
Northern Alternative Energy owns 0.1%.  The manager of the Facility is DanMar & Associates.

(c)  Edison Capital through its indirectly, wholly owned subsidiary,
Mission Funding Zeta, made a capital contribution of $5,161,500.

(d)  Capitalization or total equity for the period ending December 31, 2000 = $5,887,814
Net loss after taxes for 2000 = ($651,808)

(e)  There are no service, sales or construction contracts between Shaokatan and any system company.


4.EC07  WOODSTOCK HILLS LLC [EWG]

(a)  Woodstock Hills L.L.C. ("Woodstock"), c/o DanMar and Associates, 520 Fifth Avenue SE, Pipestone, Minnesota
56164.

Woodstock is a 10.2 megawatt windpowered electric generation facility (the "Facility") located on the Buffalo
Ridge in Southwestern Minnesota, consisting of 17 Vestas V-44 600 kW wind turbines atop tubular-type towers.

(b)  Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company.  Edison Funding Company, through its wholly owned subsidiary,
Mission Funding Zeta, owns a 75% interest in Woodstock and Heller Financial, Inc. owns a 24.9% interest.
Woodstock owns a 0.1% interest and is the manager of the Facility.

(c)  Edison Capital through its indirectly, wholly owned subsidiary,
Mission Funding Zeta, made a capital contribution of $4,200,000.



38


(d)  Capitalization or total equity for the period ending December 31, 2000 = $5,091,609
Net loss after taxes for 2000 = ($371,953)

(e)  There are no service, sales or construction contracts between Woodstock and any system company.


4.EC08  STORM LAKE PARTNERS I LLC [EWG]

(a)  Storm Lake Power Partners I LLC ("Storm Lake"), 13000 Jameson Road, Tehachapi, CA 93561.

Storm Lake is a 112.5 megawatt wind-driven electric generation facility (the "Facility") located on the Buffalo
Ridge in northwestern Iowa, consisting of 150 Zond, Z-50 750 kW wind turbines atop lattice towers.

(b)  Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company.  Edison Funding Company, through its wholly owned subsidiary,
Mission Iowa Wind Company, owns a 99% interest in Storm Lake and Enron Storm Lake I LLC owns 1.0% interest and
operates the Facility.

(c)  Edison Capital through its indirectly, wholly owned subsidiary,
Mission Iowa Wind Company, made a capital contribution of $92,500,000.

(d)  Capitalization or total equity for the period ending December 31, 2000 = $83,073,000
Net loss after taxes for 2000 = ($5,273,000)

(e)  There are no service, sales or construction contracts between Storm Lake and any system company.


                                               EDISON MISSION ENERGY

4.EME01  BROOKLYN NAVY YARD COGENERATION PARTNERS, L.P. [EWG]

(a)  Brooklyn Navy Yard Cogeneration Partners, L.P. ("BNY"), Flushing Avenue, Cumberland Street, Building 41,
Brooklyn, NY 11205

BNY's facilities consist of a 286MW combined cycle cogeneration facility located at Brooklyn Navy Yard Industrial
Park in Brooklyn, New York.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy, through its
wholly owned subsidiary Mission Energy New York, Inc., owns 50% of Brooklyn Navy Yard Cogeneration Partners,
L.P., the exempt wholesale generator.

(c)  Capital contributions made by Edison Mission Energy through its subsidiary Mission Energy New York, Inc.,
were in the amount of $12,758,043.  BNY completed a $407 million permanent non-recourse financing for the project
(the "Financing").  Edison Mission Energy agreed to indemnify BNY and its partners from all claims and costs
arising from or in connection with certain construction litigation between BNY (and its partners) and PMNC, as
contractor for BNY.  Said indemnification has been assigned for the benefit of the senior lenders of the
Financing.  Mission Energy New York, Inc., entered into a Construction Loan Note (approximately $94 million) in
favor of BNY to fund a portion of the project.

(d)  Capitalization or total equity = ($40,785,925)
Net loss after taxes for 2001 = ($13,670,155)

(e)  Other than with respect to the Edison Mission Energy indemnity and the Construction Loan Note as listed in
Item (c) above, there are no contracts between BNY and any system company.




39


4.EME02  COMMONWEALTH ATLANTIC L.P. [EWG]

(a)  Commonwealth Atlantic Limited Partnership ("CALP"), 2837 South Military Highway, Chesapeake, VA 23323-0286

CALP is a 340 MW natural gas and distillate oil fired peaking power generation facility (the "Facility") selling
power to Virginia Power.  The Facility went into operation on June 4, 1992.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy, through its
wholly owned subsidiary Hanover Energy Company owns Chickahominy River Energy Corp. which owns a 1% general
partnership interest and a 49% limited partnership interest in CALP, the exempt wholesale generator.

(c)  Capital contributions were made by Edison Mission Energy through its subsidiary Chickahominy River Energy
Corp. in the amount of $14,020,000.

(d)  Capitalization or total equity = $12,097,386
Net income after taxes for 2001 = $1,764,467

(e)  There are no contracts between CALP and any system company.


4.EME03  GORDONSVILLE ENERGY, L.P. [EWG]

(a)  Gordonsville Energy, L.P. ("GELP"), 115 Red Hill Road, Gordonsville, VA 22942

GELP is a gas-fired cogeneration facility with an anticipated net capacity during the winter months of 290
megawatts and 220 megawatts during the summer months.  The electricity generated by the facility is sold to
Virginia Electric & Power Company under two 30-year Power Purchase Agreements.  The steam generated by the
facility is sold to Rapidan Service Authority.  This facility is located one mile southwest of Gordonsville,
Virginia, in Louisa County.  GELP went into operation on June 1, 1994.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy, through its
wholly owned subsidiary Madison Energy Company ("Madison") owns a 49% limited partnership interest in GELP and,
through its wholly owned subsidiary Rapidan Energy Company ("Rapidan"), owns a 1% general partnership interest in
GELP, the exempt wholesale generator.

(c)  Capital contributions were made by Edison Mission Energy through its subsidiaries Madison in the amount of
$25,237,450 and Rapidan in the amount of $515,050, providing a total amount of $25,752,500.  As a condition to
receiving the extension of credit necessary to develop GELP, Madison, Rapidan and Jefferson Energy Company
("Jefferson"), a wholly owned subsidiary of Edison Mission Energy which sold its interest to Northern Hydro
Limited, entered into separate Equity Subscription Agreements with GELP with the condition that Edison Mission
Energy guarantee the obligations under such agreements by entering into an Equity Subscription Agreement Guaranty
for each of Madison, Rapidan and Jefferson in an amount not to exceed an aggregate of $55,250,000.

(d)  Capitalization or total equity = $33,053,217
Net income after taxes for 2001 = $3,869,626

(e)  Edison Mission Operation & Maintenance, Inc. ("EMOM") operates this facility.  EMOM received $709,318 in
compensation as operator in 2001.


4.EME04  HARBOR COGENERATION COMPANY [EWG]

(a)  Harbor Cogeneration Company ("Harbor"), 420 Henry Ford Avenue, Wilmington, CA  93210



40


Harbor, a California general partnership, was organized on March 12, 1987, and owns and operates an 80 MW
cogeneration facility located in the Wilmington Oil Field in California near the City of Long Beach.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
South Coast Energy Company, which owns 30% general partnership interests in Harbor, the exempt wholesale
generator.

(c)  Capital contributions were made by Edison Mission Energy through its subsidiary South Coast Energy Company
in the amount of $3,577,468.

(d)  Capitalization or total equity = $32,553,825
Net income after taxes for 2001 = $2,088,248

(e)  Edison Mission Marketing & Trading Inc. ("EMMT"), a wholly owned subsidiary of Edison Mission Energy,
provides services to Harbor, including marketing, trading and selling of Energy (as defined in the Energy Sales
and Fuel Sales Agreement dated as of June 14, 1999, between Harbor Cogeneration Company and EMMT (the
"Agreement") and Ancillary Services (as defined in the Agreement) to third parties.  As of December 31, 2001,
EMMT has received $0 in exchange for services provided to Harbor pursuant to the Agreement.


4.EME05  EME HOMER CITY GENERATION L.P. [EWG]

(a)  EME Homer City Generation L.P. ("Homer City"), 1750 Power Plant Road, Homer City, PA  15748-8009

Homer City operates a 1,884 MW coal-fired generating station located in Indiana County, approximately 45 miles
northeast of Pittsburgh, Pennsylvania.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Edison Mission Holdings Co.; Edison Mission Holdings Co., through its wholly owned subsidiary Mission Energy
Westside, Inc., owns a 1% general partnership interest in Homer City and through its wholly owned subsidiary
Chestnut Ridge Energy Company, owns a 99% limited partnership interest in Homer City, the exempt wholesale
generator.

(c)  Capital contributions were made by Edison Mission Energy through its subsidiary Edison Mission Holdings Co.
in the amount of $1,363,948,000.

Guarantees:

Pursuant to a Guaranty dated as of August 1, 1998 (the "EME Guaranty"), EME guaranteed all of the obligations
under the Asset Purchase Agreement pursuant to which it agreed to acquire Homer City.  On March 18, 1999, Edison
Mission Holdings Co., a wholly owned subsidiary of EME ("EM Holdings"), closed a $1.1 billion financing and EME
closed a $700 million financing the proceeds of which, together with approximately $300 million of cash, were
used to finance the acquisition pursuant to the terms of the Asset Purchase Agreement.  The EM Holdings financing
is structured on a limited recourse basis, in which the lenders look primarily to the cash revenues of Homer City
to repay the debt.  In connection with the EM Holdings financing and the issuance of $830 million senior secured
bonds by EM Holdings in May 1999, EME entered into a Credit Support Guarantee under which EME agreed to guarantee
the payment and performance of the obligations of EM Holdings to the bond holders, banks and other secured
parties which financed the acquisition of Homer City in an aggregate amount not to exceed approximately $42
million.  In addition, to satisfy the requirements under the EM Holdings financing to have a Debt Service Reserve
Requirement in an amount equal to six months' debt service projected to be due following the payment of a
distribution, EME entered into a Debt Service Reserve Guarantee in which EME agreed to guarantee the payment and
performance of the obligations of EM Holdings in the amount of approximately $35 million.  As of April 2, 2001,
the Debt Service Reserve Guarantee by EME was replaced by a Letter of Credit in the amount of $35,350,600 for the
account of EM Holdings.  As of March 18, 2001, EME provided a guarantee of EM Holdings' debt service obligations
in the amount of $9 million to the lenders involved in the bank financing (the "EM Holdings Guarantee").



41


On December 7, 2001, Homer City was sold to and leased back from eight special purpose vehicles.  Under this
arrangement, the $830 million senior secured bonds were assumed by the eight special purpose vehicles.  These
bonds will be serviced by a portion of the lease rental payments to be paid by Homer City L.P. to the new owners
of Homer City.  In connection with the sale-leaseback, the Credit Support Guarantee, which was due to expire on
December 31, 2001, and the EM Holdings Guarantee, were terminated.

Pursuant to eight Special Tax Indemnity Agreements executed in connection with the sale-leaseback, each dated as
of December 7, 2001, with Homer City L.P. and General Electric Capital Corporation ("GECC"), EME agreed to
indemnify GECC against certain tax losses which might arise either (i) as a result of the existence of certain
provisions in the Operative Documents relating to the leveraged lease financing, or (ii) as a result of certain
actions by Homer City L.P. during the term of the lease.

(d)  Capitalization or total equity = $698,755,000
Net income after taxes for 2001 = $74,418,000

(e)  Edison Mission Energy Services, Inc. (formerly Edison Mission Energy Fuel Services, Inc.) provides services
to Homer City relating to arranging for the supply of fuel to the facility pursuant to the Fuel Services
Agreement (the "Agreement") between Edison Mission Energy Services, Inc. and Homer City.  As of December 31,
2000, Edison Mission Energy Services, Inc. has received payment in the amount of $286,947 for services provided
pursuant to the Agreement.

Edison Mission Financial Marketing & Trading Co.("EMFM&T"), now Edison Mission Marketing & Trading, Inc. as
EMFM&T merged into Edison Mission Marketing & Trading, Inc. ("EMMT") on June 28, 2000, a wholly owned subsidiary
of Edison Mission Energy, has entered into an NOx Allowance Sales Agreement with Homer City, wherein EMMT is to
purchase from and/or sell to Homer City, NOx Allowances available to Homer City and as required for the use in
the operation and maintenance of the Homer City facility.  As of December 31, 2000, Homer City paid $11,498,696
to EMMT for NOx Allowances.

EMMT, a wholly owned subsidiary of Edison Mission Energy entered into an Energy Sales Agreement with Homer City,
wherein EMMT shall purchase Energy from Homer City (defined as electric energy, expressed in megawatt hours or
capacity, of the character commonly known as three-phase, sixty hertz electric energy that is delivered at the
nominal voltage of the delivery point).  As of December 31, 2001, Homer City paid $938,325 to EMMT for energy
provided pursuant to the Agreement.


4.EME06  MIDWEST GENERATION, LLC. [EWG]

(a)  Midwest Generation, LLC ("Midwest"), One Financial Place, 440 South LaSalle Street, Suite 3410, Chicago, IL
60605

Midwest owns and/or leases and operates 9,539 MW of generating capacity ("Facilities") acquired from Commonwealth
Edison Company and sells electric energy at wholesale.  Facilities consist of:

(a.1)  Six coal-fired plants located in Illinois totaling 5,646 MW:
542 MW Crawford plant in Chicago
327 MW Fisk plant in Chicago
789 MW Waukegan plant in Waukegan
1358 MW Joliet plant in Joliet
1092 MW Will County plant in Lockport
1538 MW Powerton plant in Pekins

(a.2)  2,698 MW dual-fueled Collins Station in Morris, Illinois

(a.3)  71 dual-fueled peaking units, totaling 1,195 MW, located at the Crawford, Fisk, Waukegan, Calumet, Joliet,
Bloom, Electric Junction, Sabrooke, and Lombard Stations.



42


(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Midwest Generation EME, LLC; Midwest Generation EME, LLC owns 100% of Edison Mission Midwest Holdings Co.
("Holdings") which owns 100% of Midwest, the exempt wholesale generator.

(c)  Capital contributions were made by Edison Mission Energy through its subsidiary Holdings in the amount of
$2,500,000,100.

Guarantees:
On March 22, 1999, EME entered into an Asset Sale Agreement to acquire 100% of the fossil-fuel generating assets
of Commonwealth Edison Co. ("Com Ed") totaling 9,722 MW for a purchase price of $4,813,121,000.  This agreement
was assigned to Midwest Generation, LLC, a wholly owned subsidiary of EME, on December 15, 1999, at the closing
of the transaction.  Midwest Generation, LLC operates the plants, which are all located in Illinois.  Pursuant to
the Asset Sale Agreement, EME agreed to unconditionally and irrevocably guarantee to ComEd and all of its
successors and assigns, the due and punctual performance by any assignee of all covenants, agreements, terms,
conditions, undertakings, indemnities and other obligations to be performed and observed by such assignee under
the related agreements, including the transition power purchase agreements.
Pursuant to the Agency Agreement, dated as of December 15, 1999, between Commonwealth Edison Company, Edison
               ----------------------------------------------------------------------------------------------
Mission Midwest Holdings Co. and Edison Mission Energy, relating to Coal Purchase Contract and Railcar Lease
-------------------------------------------------------------------------------------------------------------
Agreement, EME and its affiliates receive the benefits of and are responsible for the liabilities under the
---------
agreements listed below (the "Unassigned Agreements") to which Commonwealth Edison Company is a party.
Commonwealth Edison Company acts as EME's agent with respect to the Unassigned Agreements and EME is responsible
for 78% of Commonwealth Edison Company's costs in managing the Unassigned Agreements.  The Unassigned Agreements
include:

(a)      Amended and Restated Coal Purchase Contract between Commonwealth Edison Company and Decker Coal Company
         dated January 1, 1993, as further amended by Amendment No. 1 in 1993; Amendment No. 2 on June 16, 1994;
         Amendment No. 3 on May 1, 1995; Amendment No.4 on January 1, 1996; Amendment No. 5 on February 1, 1997;
         Amendment No. 6 on January 1, 1997; and Amendment No. 7 on February 1, 1999.

(b)      Railcar Lease Agreement dated July 15, 1993 between Commonwealth Edison Company and Society National
         Bank and related documents.

Synthetic Lease
---------------

On June 10, 2000, Midwest Generation, LLC, ("Midwest Generation") completed an approximate $300 million synthetic
lease transaction of the "on-site" and "off-site" peaking units acquired from Commonwealth Edison Company in
December, 1999.  Together, the on-site peakers and off-site peakers transferred by Midwest Generation consist of
70 combustion turbines and related equipment.  The proceeds from the transaction ($300 million) were loaned by
Midwest Generation to EME, and in exchange EME issued Midwest Generation an intercompany note in the same
amount.  Simultaneously, the `lessor trust' leased the peaking units to Midwest Generation, as Lessee, for an
approximate five-year term.  EME, as guarantor, agreed to unconditionally guaranty Midwest Generation's
obligations under the Synthetic Lease except for Midwest Generation's environmental obligations.

Leveraged Lease
---------------

On August 24, 2000, Midwest Generation entered into a sale-leaseback transaction with respect to the Powerton and
Joliet power facilities to third party lessors for an aggregate purchase price of $1.367 billion.  Under the
terms of the leases (33.75 years for Powerton and 30 years for Joliet), Midwest Generation will make semi-annual
lease payments on each January 2 and July 2, beginning January 2, 2001.  Recourse to Midwest Generation under the
leases is limited to amounts which would otherwise be distributable to Edison Mission Midwest Holdings Co.  EME
guaranteed the payments under a Guarantee dated August 24, 2000. If a lessor intends to sell its interest in the
Powerton or Joliet power facility, Midwest Generation has a


43


first right of refusal to acquire the interest at fair market value. The lessor debt of $1.147 billion was
obtained from the issuance by Midwest Generation of Pass-Through Certificates, Series A, with a term of
approximately nine years and a fixed interest rate of 8.30% and Pass-Through Certificates, Series B, with a term
of approximately sixteen years and a fixed interest rate of 8.56%.

Pursuant to four Tax Indemnity Agreements, each dated as of August 17, 2000, EME agreed to indemnify the lessors
against certain tax losses which might arise as a result of certain actions by Midwest during the term of the
lease.

 (d)  Capitalization or total equity = $2,469,137,000
Net income after taxes for 2001 = $13,485,000

(e)

Services Agreements
-------------------

Administrative services such as payroll, employee benefits programs and information technology, all performed by
Edison International or Edison Mission Energy, are shared among all affiliates of Edison International, and the
costs of these corporate support services are allocated to all affiliates, including Midwest.  Costs are
allocated based on one of the following formulas: percentage of time worked, equity in investment and advances,
number of employees, or multi-factor, including operating revenues, operating expenses, total assets and number
of employees.  In addition, Midwest sometimes directly requests services of Edison International or Edison
Mission Energy, and those services are performed for Midwest's benefit.  Labor and expenses of these directly
requested services are specifically identified and billed at cost.  Midwest made reimbursements for the costs of
these programs and other services, which amounted to $127.4 million for the year ended December 31, 2001.

Support Services Agreement
--------------------------

Midwest entered into an agreement with Midwest Generation EME, LLC to provide support services, including
construction and construction management, operations and maintenance management, technical services and training,
environmental, health and safety services, administrative and IT support, and other managerial and technical
services needed to operate and maintain electric power facilities.  Under the terms of the agreement, Midwest
reimburses Midwest Generation EME, LLC for actual costs incurred by functional area in providing support
services, or in the case of specific tasks Midwest requests, the amount negotiated for the task.  Actual costs
billable under this agreement for the year ended December 31, 2001, were $7.0 million.

Energy Purchase and Sales Agreement
-----------------------------------

Midwest entered into an agreement with EMMT for the purchase and sale of energy. Under the terms of the
agreement, EMMT pays Midwest for the actual price of energy contracted with third parties, less
$.02/megawatt-hour.  The amount paid or payable to EMMT under this agreement for the year ended December 31,
2001, was $0.9 million.

Services Agreement (Natural Gas)
--------------------------------

Midwest entered into an agreement with EMMT to provide services related to purchasing, transportation and storage
of natural gas.  Under the terms of the agreement, Midwest pays EMMT a service fee of $0.02 for each MMBtu of
natural gas delivered to Midwest, plus the actual cost of the gas.  The amount billable under this agreement for
the year ended December 31, 2001, was $0.9 million.



44


Fuel Services Agreement
-----------------------

Midwest entered into an agreement with Edison Mission Energy Services, Inc. to provide fuel and transportation
services related to coal and fuel oil.  Under the terms of the agreement, Midwest pays Edison Mission Energy
Services, Inc. a service fee of $0.06 for each ton of coal delivered to Midwest and $0.05 for each barrel of fuel
oil delivered to Midwest, plus the actual cost of the commodities.  The amount billable under this agreement for
the year ended December 31, 2001, was $1.3 million.

4.EME07  NEVADA SUN-PEAK LIMITED PARTNERSHIP [EWG]

EDISON MISSION ENERGY SOLD ITS INTERESTS IN THIS EWG ON DECEMBER 5, 2001.

(a)  Nevada Sun-Peak Limited Partnership ("Nevada Sun-Peak"), 200 South Virginia Street, Reno, NV 89501

Nevada Sun-Peak owns a three unit, natural gas and oil fired combustion turbine generation facility designed to
produce a net output of approximately 210 MW.  The combustion turbines (General Electric PG 7111-EA-CTGs) are
capable of operating on either natural gas or No. 2 distillate fuel oil.  The transmission facilities associated
with the plant are owned by Nevada Power Company.  The facility is located near Las Vegas, Nevada.  Commercial
operation began on June 8, 1991.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Quartz Peak Energy Company, which owns 50% of Nevada Sun-Peak, the exempt wholesale generator.

(c)  Capital contributions were made by Edison Mission Energy through its subsidiary Quartz Peak Energy Company
in the amount of $8,125,500.

(d)  Capitalization or total equity = $0
Net income after taxes for 2001 = $1,264,271

(e)  There are no contracts between Nevada Sun-Peak and any system company.


4.EME08  ECOELECTRICA LP [FUCO]

(a)  EcoElectrica L.P. ("EcoElectric"), a Bermuda limited partnership ("EcoElectrica") Plaza Scotiabank, Suite
902, Avenida Ponce de Leon 273, Hato Rey, Puerto Rico 00918

EcoElectrica owns and operates a liquefied natural gas marine unloading facility, two 1,000,000-barrel LNG
storage tanks, LNG vaporization equipment, an approximately 461 MW cogeneration power plant facility with two
natural gas turbines and one steam turbine, and a desalination plant, located in Penuelas, Puerto Rico.
EcoElectrica also owns and operates: a 2.3 mile, 230 kV transmission line connecting the power plant substation
to an existing Puerto Rico Electric Power Authority ("PREPA") substation, a 1.2 mile, 24 inch diameter natural
gas accumulator pipeline, a 3.5 mile, 10 inch diameter pipeline to supply liquefied petroleum gas ("LPG") to the
facility, and a 1.1 mile, 6 to 8 inch diameter pipeline connecting the natural gas accumulator and PREPA's Costa
Sur Power Plant.  EcoElectrica became operational in March 2000.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of EcoElectrica S.a.r.l; EcoElectrica S.a.r.l. owns 100% of EME del Caribe Holding GmbH; EME del
Caribe Holding GmbH owns 100% of EME del Caribe; EME del Caribe owns 50% of EcoElectrica Holdings, Ltd.;
EcoElectrica Holdings, Ltd. owns 100% of EcoElectrica Ltd. and 99%LP of EcoElectrica; EcoElectrica Ltd. owns 1%GP
of EcoElectrica, the foreign utility company.



45


(c)  Capital contributions were made by Edison Mission Energy through its subsidiary EcoElectrica S.a.r.l. in the
amount of $256,376,254.

The following is a listing of the various obligations of Edison Mission Energy with respect to EcoElectrica:

EcoElectrica entered into an Option to Purchase Agreement with Union Carbide Caribe Inc. ("UCCI") under which
EcoElectrica agreed to indemnify UCCI with respect to certain post-closing activities (property damage or
personal injury) and environmental contamination on the plant site.  This indemnity obligation was guaranteed by
Enron Power Corp. and Kenetech Energy Systems Inc., ("KES") pursuant to a Guaranty dated November 25, 1997 (the
"UCCI Guaranty").

Edison Mission Energy was required to execute a Guarantee Assumption Agreement under which Edison Mission Energy
agreed to assume all of the obligations of KES under the UCCI Guaranty.

 (d)  Capitalization or total equity = $30,241,500
Net income after taxes for 2001 = $13,285,216

(e)  Assignment and Assumption Agreement:  On October 31, 1997, KES Bermuda, Inc. and EcoElectrica entered into
that certain Administrative Services Agreement pursuant to which KES Bermuda, Inc. receives a fee, plus expense
reimbursement in return for providing advisory services to EcoElectrica.  As of December 23, 1998, KES Bermuda,
Inc. assigned its rights, title and interests under said agreement to EME del Caribe.  As of December 31, 2001,
EME del Caribe has received $2,374,856 for providing services to EcoElectrica.


4.EME09  CONTACT ENERGY LIMITED [FUCO]

(a)  Contact Energy Limited ("Contact"), Level 1, Harbour City Tower, 29 Brandon Street, Box 10-742, Wellington,
New Zealand

In March 1999, Edison Mission Energy Taupo Ltd.("EME Taupo"), an indirect, wholly owned subsidiary of Edison
Mission Energy entered into agreements with the government of New Zealand to acquire 40% of Contact.  Contact
owns and operates hydroelectric, geothermal and natural gas-fired power generating plants in New Zealand with a
total generating capacity of 2,449 MW.  Contact also supplies gas and electricity to customers in New Zealand and
has a minority interest in a power project in Australia.  The acquisition was conditioned on the New Zealand
government completing an initial public offering of the remaining 60% of Contact, which occurred in mid-May 1999.

In December 2000, EME Taupo transferred its 40% interest in Contact to EME Pacific Holdings ("Pacific"), an
indirect, wholly owned subsidiary of Edison Mission Energy as part of a global restructuring of Edison Mission
Energy's investment in Contact (the "Transfer").  In connection with the Transfer, Edison Mission Energy entered
into a further Deed of Covenant in favor of the institutional subscriber of $160 million of the preferred stock
issued by EME Taupo in May 1999.  This further Deed of Covenant requires Edison Mission Energy to compensate the
institutional preferred stock subscriber in the event that a private binding ruling issued to it by the New
Zealand Inland Revenue Department ceases to apply as a direct result of the Transfer.  The amount of any
compensation that may become payable by Edison Mission Energy under the further Deed of Covenant is limited to
that necessary to keep the preferred stock subscriber in the same position that it would have been in had the
private binding ruling continued to apply.  Also in December 2000, Edison Mission Energy's ownership increased a
total of 2.26% due to (i) Contact's buyback of shares from the open market and (ii) an additional purchase of
shares by Pacific.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of EME Atlantic Holdings Limited, which owns 100% of EME Ascot Limited, which owns 100% of EME
Buckingham


46


Limited, which owns 100% of EME Precision B.V., which owns 100% of Mission Energy Universal Holdings [formerly
EME Universal Holdings], which now owns 0.624% of Contact and 100% of Mission Energy Pacific Holdings [formerly
EME Pacific Holdings], which now owns 50.598% of Contact, the foreign utility company.  EME, through its
subsidiaries, now owns 51.2% of Contact (excluding the shares held by Contact as treasury stock).

(c)  Capital contributions were made by Edison Mission Energy through its subsidiary Edison Mission Project
Company, in the amount of $466,966,613.

In December 2000, EME Taupo transferred its 40% interest in Contact to EME Pacific Holdings, an indirect,
wholly-owned subsidiary of Edison Mission Energy as part of a global restructuring of Edison Mission Energy's
investment in Contact (the "Transfer").  In connection with the Transfer, Edison Mission Energy entered into a
further Deed of Covenant in favor of the institutional subscriber of $160 million of the preferred stock issued
by EME Taupo in May 1999.  This further Deed of Covenant requires Edison Mission Energy to compensate the
institutional preferred stock subscriber in the event that a private binding ruling issued to it by the New
Zealand Inland Revenue Department ceases to apply as a direct result of the Transfer.  The amount of any
compensation that may become payable by Edison Mission Energy under the further Deed of Covenant is limited to
that necessary to keep the preferred stock subscriber in the same position that it would have been in had the
private binding ruling continued to apply.  Also in December 2000, Edison Mission Energy's ownership increased a
total of 2.26% due to (i) Contact's buyback of shares from the open market and (ii) an additional purchase of
shares by Pacific.

The preferred stock was redeemed on July 2, 2001.  There are no further obligations under the Deeds of Covenant
except to the extent that they relate to dividends already paid.  EME continues to be liable for the low risk of
any change in taxation treatment of imputation credits attached to dividends already paid.

As noted above, the preferred stock has been redeemed and no further dividends are to be paid with respect to the
preferred stock.  The Deed of Covenant continues for the benefit of the institutional subscriber protecting it
against the possibility that the binding ruling ceases to apply in respect of dividends already paid.  EME has
obtained a legal opinion that confirms the "low risk" of any change to this taxation treatment.

The acquisition of further shares by Pacific and the funding required for the redemption of the EME Taupo
preferred stock was obtained through a refinancing with CSFB and other financial institutions and through a new
issue of preferred stock by Pacific. Pacific borrowed the US$ equivalent of N.Z.$135,000,000 to settle the
purchase of approximately 7.64% of Contact shares (excluding the shares held by Contact as treasury stock).  This
borrowing was repaid with the proceeds of preferred stock issued to the public in New Zealand by a sister company
to Pacific, Mission Contact Finance Limited.

The redemption of the NZ$400 million preferred stock was funded by the issue of preferred stock through Mission
Contact Finance Limited and also by borrowings from CSFB for the US dollar equivalent of NZ$386,523,000.

EME has no obligations to any of the lenders or any other third parties in respect of these financing
arrangements.

 (d)  Capitalization or total equity = $343,500,683
Net income after taxes for 2001 = $20,031,750

(e)  There are no service, sales or construction agreements between Contact and any system company.


4.EME10  PERTH POWER PARTNERSHIP [FUCO] - SUCCESSOR OF INTEREST TO KWINANA POWER PARTNERSHIP ("KPP")

(a)  Perth Power Partnership ("PPP") (formerly Kwinana Power Partnership), James Court, Kwinana Beach 6167,
Western Australia.



47


PPP's facilities used for the generation, transmission, or distribution of electric energy for sale consist of a
116 MW gas-fired combined cycle cogeneration plant at the oil refinery owned and operated by British Petroleum
Refinery Proprietary Limited at Kwinana near Perth, Australia, and interconnection equipment necessary to connect
the plant with the refinery and with PPP's wholesale purchaser, Western Power Corporation.  KPP commenced
operation in December 1996.  On August 11, 2000, KPP sold 30% of the facilities and obligations related to the
facilities to SembCorp Energy (Kwinana) Pte Ltd. (SembCorp).  KPP and SembCorp simultaneously formed PPP, a
partnership to directly own the facilities.  SembCorp owns a 30% partnership interest in PPP, and KPP owns a 70%
partnership interest.  The partners of KPP continue to be MEC Perth B.V. (99%) and Mission Energy (Kwinana) Pty
Ltd. (1%).

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI directly owns 99% of MEC Perth B.V. and through its wholly owned subsidiary MEC International Holdings B.V.
indirectly owns the remaining 1% of MEC Perth B.V.; MEC Perth B.V. owns 99% of KPP, which owns 70% of PPP, the
foreign utility company.  MECI also directly owns 100% of Loy Yang Holdings Pty Ltd, which owns 100% of Edison
Mission Energy Holdings Pty Ltd, which owns 100% of Mission Energy (Kwinana) Pty Ltd, which owns the remaining 1%
of KPP, which owns 70% of PPP, the foreign utility company.

(c)  The only outstanding guarantee by Edison Mission Energy or a subsidiary in relation to PPP is the Guarantee
and Indemnity dated March 21, 1995, between KPP and Edison Mission Operation & Maintenance, Inc. ("MOMI
Guarantee") (assigned to PPP on August 11, 2000). The MOMI Guarantee is given to Edison Mission Operation &
Maintenance, Inc. to guarantee the operations of Edison Mission Operations (Kwinana) Pty Ltd under the Kwinana
Operation and Maintenance Agreement dated March 21, 1995.

(d)  Capitalization or total equity = $20,138,855
Net income after taxes for 2001 = $4,514,239

(e)  The Administrative Support Agreement dated March 21, 1995, between Edison Mission Energy Holdings Pty Ltd
and KPP (assigned to PPP pursuant to Assumption Deed dated August 8, 2000).  Under the Administrative Support
Agreement, Edison Mission Energy Holdings Pty Ltd agrees to provide personnel and administrative support, (e.g.,
accounting, banking and tax, business promotion) to KPP to assist KPP in fulfilling its obligations under the
Syndicated Project Facility Agreement dated March 21, 1995.

The Operation and Maintenance Agreement ("OMA") between Mission Operations (Kwinana) Pty Limited and KPP dated
March 21, 1995 (amended and restated pursuant to Deed of Amendment and Restatement dated August 7, 2000, and
assigned to PPP on August 11, 2000.)  The OMA appoints an indirect, wholly owned subsidiary of MECI, Edison
Mission Operation & Maintenance Kwinana Pty Ltd ("EMOK") to operate and maintain the Kwinana cogeneration plant
and equipment.  EMOK received $310,248 in compensation as operator in 2001.

Under the Professional and Administrative Services Agreement ("PASA") between EMOK and Edison Mission Energy
Holdings Pty Ltd. ("EMEH") dated March 17, 1995, EMEH agrees to provide professional and administrative services
(e.g., accounting, banking and tax, business promotion) and staff to EMOK to assist EMOK in fulfilling its
obligations under the OMA.  EMEH received $0 in compensation under the PASA in 2001.

Under the Technical Support Agreement ("TSA") between Edison Mission Operation and Maintenance, Inc ("EMOMI") and
Edison Mission Operation & Maintenance Pty Ltd dated March 17, 1995, EMOMI provides technical support, (i.e.,
personnel and knowledge) to EMOK to enable EMOK to comply with its obligations under the OMA.  EMOMI received $0
in compensation under the TSA in 2001.




48


4.EME11  LOY YANG B JOINT VENTURE [FUCO]

(a)  Loy Yang B Joint Venture ("LYBJV"), Bartons Lane, Loy Yang, Victoria, Australia 3844

LYBJV owns two coal-fired generating units with generator nameplate ratings of 500,000 kW each, located in the
Latrobe Valley in the State of Victoria, Australia (the "Project").  Unit 1 began commercial operation on
September 30, 1993, and Unit 2 began commercial operation on September 30, 1996.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI, through wholly owned subsidiaries of Edison Mission Energy, collectively owns 100% of the interests in Loy
Yang B Joint Venture, the foreign utility company, as explained below.

The system-owned venturer is Latrobe Power Partnership ("LPP"), which owns a 51% interest.  LPP is 1% owned by
Edison Mission Energy Australia Ltd. (the managing general partner) and 99% owned by Mission Victoria Partnership
(a general partner).

Edison Mission Energy Australia Ltd. is wholly owned by Edison Mission Energy Holdings Pty Ltd, which is wholly
owned by Loy Yang Holdings Pty Ltd, which is a wholly owned subsidiary of MEC International B.V.

Mission Victoria Partnership is 52.31% owned by Latrobe Power Pty Ltd (general partner), 46.69% owned by
Traralgon Power Pty Ltd (general partner), and 1% owned by Mission Energy Ventures Australia Pty Ltd (managing
general partner).  Latrobe Power Pty Ltd and Traralgon Power Pty Ltd are both owned 99% by MEC International B.V.
and 1% by Loy Yang Holdings Pty Ltd.  Mission Energy Ventures Australia Pty Ltd is wholly owned by Loy Yang
Holdings Pty Ltd, which is owned as described above.  Gippsland Power Pty Ltd. owns the remaining 49% in LYBJV.
Gippsland is 100% owned by Mission Energy Development Australia Pty Ltd., which is 100% owned by EME Victoria
Generation Ltd., which is 100% owned by EME Generation Holdings Ltd., which is 100% owned by Mission Hydro
Limited Partnership, which is 69% owned by MEC Wales BV, 30% owned by Mission Energy Wales Company and 1% owned
by Mission Hydro (UK) Limited.  All three partners to Mission Hydro Limited Partnership are 100% directly or
indirectly owned by Edison Mission Energy.

(c)  In May 1997, Edison Mission Energy, through its indirect and direct subsidiaries, closed financing (the
"Financing") for the purchase of the remaining 49% of LYBJV.  The Financing was structured on a non-recourse
basis.

Advance Opinion Undertaking - In the Advance Opinion Undertaking, EME is obligated to Chase Securities (as
---------------------------
Security Agent under the Project Facility) to cause to make available to the Project funds in an amount
sufficient to pay income or capital gains taxes on assessments under the Australian income tax laws which
materially and adversely affect (a) the Project, (b) the operating cash flow of the Project or (c) the ability to
meet obligations to pay interest or repay principal or other amounts under the Project Facility (which result
from an assessment which directly conflicts with certain tax assumptions expressed in the Advance Opinion from
the Australian Tax Office).

LPP's and Gippsland's capital contribution = $78,412,225

(d)  LPP's and Gippsland's Equity = $77,744,929
LPP's and Gippsland's Net Income after taxes for 2001 = $11,676,764

(e)  An indirect, wholly owned subsidiary of MEC International B.V., Edison Mission Operation & Maintenance Loy
Yang Pty Ltd. operates the generating plant pursuant to an amended operating and maintenance contract.  The
intermediate holding company of Edison Mission Operation & Maintenance Loy Yang Pty Ltd. is Edison Mission Energy
Holdings Pty Ltd.  As operator, Edison Mission Operation &


49


Maintenance Loy Yang Pty Ltd. performs the following services:  management and supervision of the construction
commissioning, testing, operation and maintenance of the Loy Yang B power station on behalf of the joint venture
participants.


4.EME12  PT. PAITON ENERGY [FUCO]

(a)  PT. Paiton Energy ("Paiton"), Jl. Raya Surabaya Situbondo KM 141, Paiton 67291, Probolinggo, East Java,
Indonesia

Paiton's facilities consist of two coal-fired electric generating units in Paiton, Indonesia, on the northeast
Java coast, both of which achieved commercial operation during 1999.  Each unit has a nominal net design capacity
of 605 MW and is comprised of a boiler and steam turbine generator with ancillary facilities.  The two units
share a control room.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI directly owns 99% of MEC Indonesia B.V. and through its wholly owned subsidiary MEC International Holdings
B.V. indirectly owns the remaining 1% of MEC Indonesia B.V.; MEC Indonesia B.V. owns 40% of PT. Paiton Energy,
the foreign utility company.

(c)  Capital contribution made by Edison Mission Energy through its subsidiary MEC Indonesia B.V. was in the
amount of $125,694,200.  Edison Mission Energy and its wholly owned affiliates, MEC Indonesia B.V., MEC
International B.V., and MEC International Holdings B.V. ("Mission Affiliates") have undertaken the following
obligations:

The project is financed by multiple credit facilities (the "Credit Facilities"), of varying terms and tenor,
provided by the Export-Import Bank of the United States, the Japan Bank for International Cooperation, Overseas
Private Investment Corporation and commercial banks.  The project also contains financing indirectly provided by
the proceeds of $180,000,000 of bonds issued in reliance upon Rule 144A.

The following is a listing of the various obligations of EME with respect to the Paiton Project:

         Guarantees Related to Equity Infusion.  EME and its wholly-owned affiliates (MEC International, B.V.,
         --------------------------------------
MEC International Holdings, B.V. and MEC Indonesia (the "Mission Affiliates")) have undertaken the following
obligations:

         Equity Support Guarantee.  EME and the Mission Affiliates have guaranteed payment of 47.06% of PE's
         -------------------------
         obligations to contribute base equity, overrun equity and contingent overrun equity to the Paiton
         Project.  EME and the Mission Affiliates' obligations are $320,008,000 for base equity (as of
         December 31, 1999 these obligations had been fully funded), $82,355,000 for overrun equity (as of
         September 30, 2000, this amount had been fully funded), and $58,825,000 for contingent overrun equity
         (as of December 31, 2001, $5,283,667.58 remains outstanding).  The total EME/Mission Affiliates'
         commitment is $461,188,000.  On February 2, 2001, the outstanding amount for contingent overrun equity
         was reduced by an equity contribution made by EME in the amount of $22,907,876.  This contribution arose
         as a result of Edison International's credit downgrade and discharged EME's guarantee of an initial
         38.24% of PE's equity obligations pursuant to EME's Equity Support Agreement.

         (a)      Overrun Equity.  Overrun Equity in the amount of $82,355,000 (EME/Mission Affiliates' portion)
                  ---------------
                  is for costs incurred by the Paiton Project that were not included in the project budget and
                  not otherwise covered by third parties such as insurers or the construction contractor.


50



         (b)      Contingent Overrun Equity.  Contingent Overrun Equity in the amount of $58,825,000 (EME/Mission
                  --------------------------
                  Affiliates' portion) will be utilized on the same basis as Overrun Equity once the Overrun
                  Equity has been fully utilized.

         (c)      BHP Loans.  EME has agreed to lend 47.06% of the equity amount required to be contributed by
                  ----------
                  P.T. Batu Hitam Perkasa, an Indonesian limited liability company, and 15% shareholder in PE
                  (the "BHP Loans").  The BHP Loans are to be repaid out of PE dividends, carry an interest rate
                  of Libor plus 2.25%, a term of 20 years.  The BHP Loan obligation is included in EME's Equity
                  Support Agreement commitment and accounts for $21,459,360 of that obligation.  This obligation
                  has been fully funded.

(d)  Capitalization or total equity = $96,532,808
Net loss after taxes for 2001 = ($26,745,676)

(e)  Edison Mission Energy Asia Pte Ltd., a wholly owned subsidiary of MEC International B.V., has entered into
an Operation and Maintenance Agreement with Paiton to provide operation and maintenance services.  The services
under the Operation and Maintenance Agreement have been assumed by P.T. Edison Mission Operation & Maintenance
Indonesia ("PTEMO&M"), another indirect subsidiary of Edison Mission Energy.  PTEMO&M has received $5,637,831 in
fees from Paiton in 2001.


4.EME13  TRI ENERGY COMPANY LIMITED [FUCO]

(a)  Tri Energy Company Limited ("Tri Energy"), 16th Floor, Grand Amarin Tower, New Petchburi Road, Ratchathewi,
Bangkok 10320 Thailand

Tri Energy's facilities consist of a 700 MW gas turbine combined cycle facility located in Ratchaburi Province,
west of Bangkok, Thailand, and interconnection equipment necessary to connect the facility with the company's
wholesale purchaser, the Electricity Generating Authority of Thailand.  Tri Energy became operational on June 30,
2000.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of EME Tri Gen B.V., which owns 25% of Tri Energy Company Limited, the foreign utility company.

(c)  Capital contributions were made by Edison Mission Energy through its subsidiary EME Tri Gen B.V. in the
amount of $23,289,420.

(d)  Capitalization or total equity = $17,720,353
Net income after taxes for 2001 = $1,571,000

(e)  Edison Mission Energy Asia Pacific Pte Ltd. ("EME Asia") and Tri Energy have entered into an Onshore Service
Agreement and an Offshore Service Agreement.  Under the Onshore Service agreement, EME Asia is to provide
managerial, professional and technical services within Thailand to Tri Energy for a fixed annual fee of 6,000,000
Baht [US Dollars].  Under the Offshore Service agreement, EME Asia is to provide managerial, professional and
technical services outside of Thailand on an hourly fee basis.  As of December 31, 2001, EME Asia has received
payment of $0.


4.EME14  DERWENT COGENERATION LIMITED [FUCO]

(a)  Derwent Cogeneration Limited ("Derwent"), Lansdowne House, Berkeley Square, London W1X 5DH England



51


The 214 MW plant at Spondon, Derbyshire, England, went into operation in 1995.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of Mission Energy Company (UK) Limited which owns 33% of Derwent, the foreign utility company.

(c)  Total capital contribution = $2,468,719

(d)  Capitalization or total equity = $1,766,582
Net income after taxes for 2001 = $2,013,435

(e)  Mission Energy Services Limited ("MESL") provided construction management services to Derwent throughout the
construction phase of the project and is now the operator of the facility.  MESL is to receive a fee of
$3,266,808 per year for operation and maintenance services as well as reimbursement from Derwent for expenditures
incurred for operation and maintenance services.  MESL received $2,946,617 in fees in 2001.


4.EME15  FIRST HYDRO COMPANY [FUCO]

(a)  First Hydro Company ("FHC"), Bala House, St. David's Park, Ewloe, Clwyd, Wales CH5 3XJ

The principal assets of FHC are two pumped storage stations located in North Wales at Dinorwig and Ffestiniog
which have a combined registered capacity of 2,088 MW.  These facilities were built to provide additional
generation for meeting peak demand throughout the day and to provide rapid generation response to sudden changes
in electricity demands.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy, which through its subsidiaries (i)
wholly owned Mission Energy Wales Company, owns 30%LP of Mission Hydro Limited Partnership, which in turn owns
100% of EME Generation Holdings, Ltd., which in turn owns 99% of First Hydro Holdings Company, which owns 100% of
First Hydro Finance plc, which owns 1% of FHC; (ii) wholly owned Mission Energy Holdings International, Inc.
directly owns 99.97% (100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of
MECI through its wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B
shares of MECI, and EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI;
Edison Mission Energy owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison
Mission Project Co.; MECI owns 100% of Mission Energy Company (UK) Limited, which owns 100% of Mission Hydro (UK)
Limited, which in turn directly owns 1% of First Hydro Holdings Company and indirectly owns the remaining 99% of
First Hydro Holdings Company through its 1%GP interest in Mission Hydro Limited Partnership, First Hydro Holdings
Company owns 100% of First Hydro Finance plc, which in turn owns 1% of FHC; and (iii) the wholly owned subsidiary
Mission Energy Holdings International, Inc. owns 99.97% of MEC International B.V. (see above for remaining
0.03%), which directly owns 99% of MEC Wales B.V. and through its wholly owned subsidiary MEC International
Holdings B.V. indirectly owns the remaining 1% of MEC Wales B.V., MEC Wales B.V. owns 69%LP of Mission Hydro
Limited Partnership, which in turn owns 100% of EME Generation Holdings, Ltd., which owns 99% of First Hydro
Holdings Company, which owns 100% of First Hydro Finance plc, which owns 100% of FHC the foreign utility company.

(c)  First Hydro Finance plc ("FHF"), an indirect subsidiary of Edison Mission Energy, purchased all of the
outstanding shares of FHC for $1.0 billion plus $45.7 million as consideration for the working capital of FHC at
the date of acquisition.  This acquisition was funded through a combination of (i) a $621.4 million credit
facility with Barclays Bank Plc, (ii) a $350 million capital contribution from Edison International, and (iii)


52


$50.4 from Edison Mission Energy's working capital.  FHF obtained the financing for First Hydro Holdings Company,
a wholly owned indirect subsidiary of Edison Mission Energy.  To support the financing for FHF, Edison Mission
Energy has issued a letter of credit from its $400 million corporate revolving credit.

Revenue Support Letter of Credit - The Letter of Credit was issued by Bank of America in the amount of 12 million
pounds sterling (U.S. $19.4 million) in favor of FHF and assigned to Prudential Trustee Company Limited as
security trustee.  The Revenue Support Letter of Credit must be opened for the initial five years of financing
with a bank having a short-term rating of at least A-1/P-1.  The Revenue Support Letter of Credit may be drawn
down to make up any shortfalls in interest payments owing and to cure any default arising from interest coverage
ratios dropping below 1.05 to 1.0 for the applicable reference periods.  The Revenue Support Letter of Credit
Obligation expires in December 2001.

(d)  Capitalization or total equity = $202,843,456
Net income after taxes for 2001 = $40,855,033

(e)  There are no contracts between FHC and any system company.


4.EME16  EDISON FIRST POWER LIMITED  [FUCO]

EDISON MISSION ENERGY SOLD ITS INTERESTS IN THIS FUCO ON DECEMBER 21, 2001.

(a)  Edison First Power Limited ("EFPL"), Lansdowne House, Berkeley Square, London W1X 5DH England

EFPL acquired Ferrybridge, a coal-fired electric generating plant with a generating capacity of approximately
2,000 MW located in West Yorkshire  and Fiddler's Ferry, a coal fired electric generating plant with a generating
capacity of approximately 2,000 MW located in Warrington.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100 of
Mission Energy Holdings International Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of Global Generation B.V., which owns 100% of Edison First Power Holdings I, which owns 100%
Maplekey Holdings Limited, which owns 100% of Maplekey UK Finance Limited, which owns 100% of Maplekey UK
Limited, which owns 100% of EFPL, the foreign utility company.

(c)  Capital contributions were made by Edison Mission Energy through its subsidiary Global Generation, B.V., in
the amount of $1,046,456,340.

Guarantees:
On April 30, 1999, EFPL executed two Sale and Lease Agreements with PowerGen UK plc, an English corporation
("PowerGen") for the acquisition of each of Ferrybridge and Fiddler's Ferry.  The acquisition and financing of
Ferrybridge and Fiddler's Ferry were completed on July 19, 1999, for approximately $2 billion.

The following is a listing of the various obligations undertaken by Edison Mission Energy with respect to the
acquisition and financing of Ferrybridge and Fiddler's Ferry:

(c.1)  Purchase Price Adjustment Guarantee - Edison Mission Energy has guaranteed to PowerGen the payment of
$16,879,000 for each of Ferrybridge and Fiddler's Ferry as an adjustment to the purchase price in the event that
the Environmental Authority of Her Majesty's Government in the United Kingdom (the "Environmental Authority")
allows for an increase in emissions from Ferrybridge and Fiddler's Ferry.  The Environmental Authority issued its
determination regarding emissions in January 2000.  As a result there is no upward adjustment to the purchase
price, this obligation will cease and EME will have no further obligation hereunder.



53


(c.2)  Coal and Capex Facility Guarantee - Edison Mission Energy has guaranteed to Barclays Bank PLC the
obligations of EME Finance UK Limited ("EME Finance"), an indirect wholly-owned subsidiary of Edison Mission
Energy, under that certain Coal and Capex Facility Agreement (the "Facility Agreement") dated as of July 19,
1999, and entered into in connection with the financing of Ferrybridge and Fiddler's Ferry, pursuant to which
Barclays Bank PLC issued at the request of EME Finance two letters of credit:

(c.3.1)  Capex Letter of Credit - A five-year letter of credit in the amount of $142,038,217 was posted to meet
the obligations of EFPL in relation to capital costs associated with construction costs arising from proposed
modifications to Ferrybridge and Fiddler's Ferry and may be drawn upon where funds in the revenue account of EFPL
are insufficient to pay such costs; and

(c.3.2)  Coal Letter of Credit - A fifty-four (54) month letter of credit in the amount of $86,764,331 was posted
to meet the obligations of EFPL under certain coal supply agreements and may be drawn upon to fund amounts which
become due and payable from time to time under such agreements.

(c.4)  Debt Service Reserve Letter of Credit - Edison Mission Energy caused to be posted by Bank of America a
Letter of Credit denominated in Pounds Sterling equal to $85,395,600 under Edison Mission Energy's corporate
revolving line of credit with Bank of America, to serve as a debt service reserve account which may be drawn upon
by the trustee for the bondholders in the event EFPL fails to make debt service payments under the Guaranteed
Secured Variable Rate Bonds due 2019 (the "Bonds"). The Bonds are non-recourse to Edison Mission Energy.

(d)  Capitalization or total equity = $1,046,456,340
Net loss after taxes for 2001 = ($1,242,284,824)

(e)  EFPL and Edison Mission Marketing and Services Limited ("EMMS") have entered into an Agency Agreement
wherein EMMS shall provide Agency Services (as defined in Schedule 1 to the Agency Agreement) to EFPL.  As of
December 31, 2001, EMMS has charged EFPL $5,963,593 for services provided to EFPL under the Agency Agreement.

EFPL and EMMS have entered into a Services Agreement wherein EMMS provides certain office functions and
management expertise (as outlined in Schedule 1 of the Services Agreement) to EFPL.  As of December 31, 2001,
EMMS has charged EFPL $1,902,251 for services provided to EFPL under the Services Agreement.


4.EME17  IBERICA DE ENERGIAS, S.A. [FUCO]

(a)  Iberica de Energias, S.A. ("Iberica"), Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain

Iberica's facilities consist of the following fifteen mini-hydroelectric facilities which are capable of
producing a total of 48.55 MW:
Quintana:  1.48MW facility in Herrera de Valdecana, Palencia
La Flecha:  2.66MW facility in Arroyo Encomienda, Valladolid
Toro:  4.50MW facility in Toro, Zamora
Tudela:  1.48MW facility in Tudela de Duero, Valladolid
Sardon Bajo:  1.60MW facility in Villabanez, Valladolid
Bocos:  1.60MW facility in Bocos de Duero, Valladolid
Monasterio:  1.60MW facility in Quintanilla de Arriba, Valladolid
Logrono:  3.68MW facility in Logrono, La Rioja
Mendavia:  5.60MW facility in Mendavia, Navarra
La Ribera:  4.40MW facility in Pradejon, La Rioja
Gelsa:  7.20MW facility in Gelsa, Zaragoza
Alos: 4.80MW facility in Alos de Balaguer, Lerida
Castellas:  2.25MW facility in Valls de Aguilar, Lerida
Sossis:  3.3MW facility in Pyrenees (Lerida)
Olvera:  2.4MW facility in south of Spain (Jaen)



54


(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 10% of Hydro Energy B.V. and indirectly through its wholly owned subsidiary Iberian Hy-Power Amsterdam
B.V. owns the remaining 90% of Hydro Energy B.V.; Hydro Energy B.V. owns 96.65% of Iberica de Energias, the
foreign utility company, and Iberian Hy-Power Amsterdam B.V. owns the remaining 3.35%.

(c)  The capital contribution made by Edison Mission Energy through its subsidiary Iberian Hy-Power Amsterdam
B.V. was $21,992,654.  In August, 1993, MECI, through its 34% ownership interest and its direct ownership
interest in Hydro Energy B.V., acquired an aggregate 40.6% interest in Energias Hidraulicas, S.A. ("EH") from
Energies, S.A., the hydroelectric development subsidiary of Vivendi (formerly Compagne Generale des Eaux).
Subsequently, EH sold Iberica and Mediterranea to Hydro Energy B.V.  Compagne Generale des Eaux is a French water
utility company.  EH is a Spanish holding company which will develop water right concessions, but has no
operating facilities.  During 1996, the five facilities previously owned by Compania Mediterranea de Energias,
S.A., were merged into Iberica.  Also in 1996, Energias Hidraulicas' name was changed to Edison Mission Energy
Espana, S.A.  During 1997, EH, Hidroelectrica de Sossis S.A. and Hidroelectrica de Olvera S.A. were merged into
Iberica.

In connection with the acquisition of EH, Vivendi provided to Iberica and Mediterranea a 10-year limited revenue
guaranty, which allowed Iberica and Mediterranea to secure non-recourse project financing.  Consideration to
Vivendi for the acquisition of Iberica and Mediterranea included the assumption by Hydro Energy B.V. of an
existing loan with deferred payments to Vivendi beginning in 1999 and ending in 2003.  Edison Mission Energy has
provided a guarantee for any such deferred payments which are outstanding as of September 30, 2003 (six months
after the due date for all such deferred payments).  The guarantee by Edison Mission Energy provides for no
rights of acceleration by Vivendi under any circumstances.  At December 31, 2000, the present value of the
deferred payments will amount to $24.8 million ($30.3 million face value discounted at 11.5%).

(d)  Capitalization or total equity = $34,261,679
Net income after taxes for 2001 = $3,712,398

(e)  There is a management fee agreement between Iberica and Electro Metalurgica del Ebro S.L. (EMESA).   Iberica
provides administrative and financial services to EMESA.  As of December 31 2001, EMESA has paid Iberica $437,724
for services rendered under this management fee arrangement.


4.EME18  ELECTROMETALURGICA DEL EBRO, S.A. [FUCO]

(a)  Electrometalurgica del Ebro, S.A. ("EMESA"), Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain

EMESA's facilities consist of three mini-hydroelectric facilities (Sastago I, Sastago II and Menza) all located
near the Ebro River in Zaragoza.  The three mini-facilities are masonry weir, concrete intake structures capable
of producing 3 MW, 17.3 MW and 13 MW, respectively.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 10% of Hydro Energy B.V. and indirectly through its wholly owned subsidiary Iberian Hy-Power Amsterdam
B.V. owns the remaining 90% of Hydro Energy B.V.; Hydro Energy B.V. owns 96.65% of Iberica de Energias and
Iberian Hy-Power Amsterdam B.V. owns the remaining 3.35%; Iberica de Energias owns 91.32% of EMESA, the foreign
utility company.


55



(c)  The capital contribution made by MECI through Iberian Hy-Power Amsterdam B.V. was $63,266.

(d)  Capitalization or total equity = $5,599,061
Net income after taxes for 2001 = $61,394

(e)  There is a management fee agreement between Iberica and Electro Metalurgica del Ebro S.L. (EMESA).   Iberica
provides administrative and financial services to EMESA.  As of December 31 2001, EMESA has paid Iberica $437,724
for services rendered under this management fee arrangement.


4.EME19  LAKELAND POWER LTD. [FUCO]

(a)  Lakeland Power Ltd. ("Lakeland"), Roosecote Power Station, Barrow-in-Furness, Cumbria, England LA13 OPQ

Lakeland's facilities consist of a 220 MW gas-fired combined cycle electricity generation plant.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 1% of Pride Hold Limited and 100% of Mission Energy Company (UK) Limited; Mission Energy Company (UK)
Limited owns 99% of Pride Hold Limited.  Pride Hold Limited owns 100% of Lakeland Power Ltd., the foreign utility
company.

(c)  The capital contribution made by Edison Mission Energy through its subsidiary Pride Hold Limited was
$6,021,299.

(d)  Capitalization or total equity = $30,748,265
Net income after taxes for 2001 = $25,110,327

(e)  There are no contracts between Lakeland and any system company.


4.EME20  ISAB ENERGY, s.r.l. [FUCO]

(a)  ISAB Energy, s.r.l. ("ISAB"), Corso Gelone No. 103, Siracusa, Sicily, Italy

ISAB's facilities consist of a 512 MW integrated gasification and combined cycle power plant, located in Priolo
Gargallo, 8 kilometers from Siracusa, Sicily.  ISAB became operational in April 2000.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI directly owns 99% of MEC Priolo B.V. and through its wholly owned subsidiary MEC International Holdings B.V.
indirectly owns the remaining 1% of MEC Priolo B.V.; MEC Priolo B.V. owns 49% of ISAB, the foreign utility
company.

(c)  In connection with the refinancing of ISAB in June 2000, (i) the partners agreed to reduce the equity and
subordinated debt required from 25% of project costs to 10%, and (ii) Edison Mission Energy guaranteed (for the
benefit of the banks financing the construction of the power plant) MEC Priolo B.V.'s


56


obligation to inject into ISAB equity and subordinated debt totaling $45,133,150.   In connection with the
financing of ISAB, Edison Mission Operation & Maintenance, Inc. ("EMOMI") pursuant to a guarantee (the "EMOMI
Guarantee") has guaranteed (for the benefit of ISAB and the banks financing the construction of the ISAB power
plant) ISAB Energy Services' financial obligations (as the operator) to ISAB under the Operation and Maintenance
Agreement for the operation and maintenance of the power plant.  The maximum payable by EMOMI under the EMOMI
Guarantee is capped at the mobilization fee or base fee paid in any given year (anywhere from $3-5 million per
year).  Deasphalter O&M (capped at base or mobilization fee - less than $1 million per year).

(d)  Capitalization or total equity = $8,223,702
Net income after taxes for 2001 = $6,844,824

(e)  ISAB and Edison Mission Energy Limited ("EMEL") entered into a Secondment Agreement on January 1, 1997,
wherein EMEL seconds certain of its employees to ISAB to assist in areas related to ISAB's business (i.e.,
project management).  Under this agreement, EMEL has received compensation in the amount of $0 for 2001.

Mission Energy Italia s.r.l. ("MEI") and ISAB have entered into a Secondment Agreement effective January 1, 1997
(amended October 1, 2000), wherein MEI seconds certain of its employees to ISAB to assist in areas related to
ISAB's business (i.e., project control and general management).  Under this Secondment Agreement, MEI has
received $330,596 for the year ended December 31, 2001.

EMEL entered into a Sponsor Support Agreement with ISAB effective January 1, 1997 (amended October 1, 2000),
wherein EMEL provides activities to ISAB in the areas which include the following:  financial model
administration; maintenance and development of relationship with lenders to ISAB; advice on finance; maintenance
and development of relationship with insurance companies; maintenance and development of relationship with
international law firms; supervision and preparation of legal contracts and provide interpretation of existing
contracts.  During 2001, EMEL has received $169,072 under this Sponsor Support Agreement.


4.EME21  ITALIAN VENTO POWER CORPORATION 4 S.R.L. [FUCO]

(a)  Italian Vento Power Corporation 4 S.r.l. ("IVPC"), Via Circumvallazione, 54/h, 83100 Avellino, Italy

IVPC is developing 280.7 MW of wind-generated capacity in rural Italy in eleven projects, consisting of clusters
of 660 kW and 600kW turbines and associated equipment in the following comunes (townships): (1) 47 turbines
totaling 30 MW in Andretta and Bisaccia; (2) 60 turbines totaling 39.6 MW in Lacedonia and Monteverde; (3) 41
turbines totaling 27.06 MW in Monacilioni, Pielracatella, and Sant Elia; (4) 60 turbines totaling 39.6 MW in
Forenza and Maschito; (5) 25 turbines totaling 15 MW in Volturara and Motta Moniecorvino; (6) 30 turbines
totaling 18 MW in Roselo; (7) 47 turbines totaling 30.3 MW in Celle San Vito, Greci and Montaguto; (8) 30
turbines totaling 19.8 MW in Panni; (9) 45 turbines totaling 29.7 MW in Bortigiadas, Aggius and Vidalba; (10) 34
turbines totaling 22.44 MW in Avigliano; and (11) 14 turbines totaling 9.24 MW in Roseto.  The projects include
transmission lines connecting the generating facilities to the grid, ranging in length from less than 100 meters
to a maximum of 9 kilometers. IVPC is also constructing, but will not own, substations associated with the
projects.  IVPC also owns and is currently operating a 2.4 MW project in Rocca San Felice consisting of four 600
kW turbines and associated equipment.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D


57


shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.  MECI owns 100% of Edison Mission
Wind Power Italy B.V. (formerly IVPC Energy 5 B.V.) ("EMWP"), which owns 50% of IVPC, the foreign utility company.

(c)  The capital contribution made by Edison Mission Energy through Edison Mission Wind Power was $53,565,839.

Under the terms of the Intercreditor Agreement dated March 3, 2000, to which EMWP is a party, any Junior Debt,
which is widely defined as, essentially, any liability owed by IVPC to EMWP, is subordinated to the obligations
of IVPC to the banks party thereto, in a manner in which any amount received or otherwise receivable by EMWP from
IVPC may be applied against IVPC's debts to such banks, save for certain excepted payments specified therein,
referred to as Permitted Distributions.

Under the terms of the Project Finance Facilities Syndicated Credit Agreement dated September 7, 2000, to which
IVPC, but not EMWP, is a party, there are restrictions imposed upon IVPC on amounts that IVPC may distribute or
otherwise pay to EMWP and in certain circumstances amounts otherwise so distributable or payable may be applied
against the amounts outstanding under that agreement from IVPC to the banks lending thereunder.

EMWP has also pledged its shares to the lenders under the Facilities Agreement referred to above and other
financial institutions as security for IVPC's obligations.

(c.1)  (a) on March 3, 2000, EMWP and IVPC entered into a "Subordinated Loan Agreement" according to which EMWP
has undertaken to finance IVPC by way of subordinated loans in the amounts set forth therein; and (b) according
to the "Development Permits for Stages A and B" letter dated March 15, 2000, MECI has undertaken toward UPC
International Partnership CV II, inter alia, the obligation to procure that EMWP extends a loan to IVPC for up to
50% of the equity contribution required to be contributed to IVPC with respect to such Stage under the Senior
Loan, in the event that any Permit for Stages A and B has not been issued.

(d)  Capitalization or total equity = $33,143,960
Net income after taxes for 2001 = $3,109,096

(e)  There are no services contracts between IVPC and any system company.


4.EME22  DOGA ENERJI URETIM SANAYI VE TICARET L.S.  [FUCO]

(a)  Doga Enerji Uretim Sanayi ve Ticaret L.S. ("Doga"), Merkez Mahallesi, Birlik Caddesi 11/8, Esenyurt,
Istanbul, Turkey

Doga's facility used for the generation, transmission, or distribution of electric energy for sale consists of a
180 MW combined cycle turbine cogeneration plant in Istanbul, Turkey.  Doga became operational in May 1999.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 99% of MEC Esenyurt B.V. and through its wholly owned subsidiary MEC International Holdings B.V.
indirectly owns the remaining 1% of MEC Esenyurt B.V.; MEC Esenyurt B.V. owns 80% of Doga, the foreign utility
company.

(c)  In connection with the financing of Doga, Edison Mission Operation & Maintenance, Inc. ("EMOMI"), pursuant
to a guarantee ("EMOMI Guarantee"), has guaranteed (for the benefit of Doga and the Banks) the financial
obligations of Doga Isletme ve Bakim Ticaret L.S. (as operator) to Doga under the Operation and


58


Maintenance Agreement for the operation and maintenance of the power plant. The maximum amount payable by EMOMI
under the EMOMI Guarantee is capped at the base fee paid in any given year (no more than $1 million per year.)

The capital contribution made by Edison Mission Energy through MEC Esenyurt B.V. was $34,849,343.

(d)  Capitalization or total equity = $51,451,546
Net income after taxes for 2001 = $6,615,420

(e)  There are no contracts between Doga and any system company.

4.EME23  CBK POWER COMPANY LTD.  [FUCO]

(a)  CBK Power Company Limited, a Philippine limited partnership ("CBK"), 1701 One Magnificent Mile Building, San
Miguel Avenue, Ortigas Center, Pasig City, Philippines

Upon completion of all rehabilitation and upgrading (of 3 hydroelectric power plants known as Caliraya, Botocan,
and Kalayaan I and related civil structures located in the province of Laguna, Republic of the Philippines) and
construction of a new 348.6 MW, two-unit hydroelectric power plant and a new spillway), the new and upgraded CBK
Complex will have a reliable power output of 728 MW.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of Edison Mission  Millennium B.V. which owns 100% of EME Kalayaan B.V. and EME Caliraya B.V.; EME
Kalayaan B.V. owns 1% GP of CBK and EME Caliraya B.V. owns 49% LP of CBK.

(c)  Capital invest as of December 31, 2001
      Payment to IMPSA under General Engineering services = $20 million
      Equity contribution = $10,437,275
      Equity Guarantee - Under the Capital Contribution Guarantee, EME guarantees its equity contribution
obligation of $56 million (now $46 million).  In the event  EME should be down graded below investment grade, EME
would be required to provide a letter of credit to back up the uncontributed portion.

(d)  Capitalization or total equity = $29,908,482
Net income after taxes for 2001 = $0

(e)  (1)  Owner's Representative Agreement for onshore services - Entered into between CBK and EME Philippines
Services Corporation ("EME Philippines"). EME Philippines provides onshore owner's representative services to CBK
during the construction period.  Total fee is US$ 4.5165 million.

(2)  Owner's Representative Agreement for offshore services - Entered into between CBK and Edison Mission Energy
Asia ("EME Asia").  EME Asia provides offshore owner's representative services to CBK during the construction
period.  Total fee is US$ 3.3835 million.

(3)  Management and Technical Services Contract - This is the O&M contract entered into between CBK and  Kalayann
Power Management Corporation ("KPMC") for 25 years commencing on February 9, 2001.  KPMC is a 50/50 JV between
EMOM Services B.V. and IMPSA Construction and Services B.V.  KPMC provides service to manage the maintenance,
repair and operation of CBK.  The Fee is US$500,000 per year escalated according to US Producers Price Index.
CBK is also to reimburse all costs and expenses incurred by KPMC in performing these services.  The aggregate
liability of KPMC shall in no event exceed the Management Fee plus bonus.  There are no consequential damages.




59


4.EME24  KALAYAAN POWER MANAGEMENT CORPORATION (FUCO)

(a)  Kalayaan Power Management Corporation, a Philippines Corporation, NPC Compound, Kalayaan, Province of
Laguna, Philippines

Kalayaan Power Management Corporation ("Kalayaan PMC"), Kalayaan PMC is to provide operation and services for CBK
Power Company Limited ("CBK") which is rehabilitating and upgrading four hydroelectric power plant projects in
the province of Laguna, Republic of the Philippines. Under the terms of a management and technical services
contract between CBK and this project.  When this project is completed, the total installed capacity of these
four hydroelectric facilities will increase from 367.8 MW to approximately 728 MW, as follows:  (1) the Kalayaan
I facility, a pumped storage facility with two turbine pump units will be upgraded such that both will be 168 MW,
for a total of 336 MW; (2) the Kalayaan II facility, another pumped storage facility, will be constructed to
consist of two pump units of 174.3 MW each, for a total of 348.6 MW; (3) the Caliraya hydroelectric facility will
be upgraded to divert water into two 11.3 MW units, for a total of 22.6 MW; and (4) the Botocan facility will be
upgraded to divert water into two 10 MW units, for a total of 20 MW.  Each power plant will include auxiliary
equipment and interconnecting transmission facilities.

(b)  Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc.  Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares).  MECI owns 100% of Edison Mission Operation and Maintenance Services
B.V., which owns 50% of Kalayaan Power Management Corporation.

(c)  Capital invest as of December 31, 2001 = $103,043
Equity Guarantee - Under the Capital Contribution Guarantee, EME guarantees its equity contribution obligation of
$56 million (now $46 million).  In the event EME should be down graded below investment grade, EME would be
required to provide a letter of credit to back up the uncontributed portion.

(d)  Capitalization or total equity = $476,522
Net income after taxes for 2001 = $280,912

(c)  (1)  Owner's Representative Agreement for onshore services - Entered into between CBK and EME Philippines
Services Corporation ("EME Philippines"). EME Philippines provides onshore owner's representative services to CBK
during the construction period.  Total fee is US$ 4.5165 million.

(2)  Owner's Representative Agreement for offshore services - Entered into between CBK and Edison Mission Energy
Asia ("EME Asia").  EME Asia provides offshore owner's representative services to CBK during the construction
period.  Total fee is US$ 3.3835 million.

(3)  Management and Technical Services Contract - This is the O&M contract entered into between CBK and  Kalayann
Power Management Corporation ("KPMC") for 25 years commencing on February 9, 2001.  KPMC is a 50/50 JV between
EMOM Services B.V. and IMPSA Construction and Services B.V.  KPMC provides service to manage the maintenance,
repair and operation of CBK.  The Fee is US$500,000 per year escalated according to US Producers Price Index.
CBK is also to reimburse all costs and expenses incurred by KPMC in performing these services.  The aggregate
liability of KPMC shall in no event exceed the Management Fee plus bonus.  There are no consequential damages.


4.EME25  SUNRISE POWER COMPANY LLC (EWG)

(a)  Sunrise Power Company, LLC 50% [EWG], 12857 Sunrise Power Road, Fellows, CA 93224



60


Sunrise consists of a 320 MW simple-cycle peaking facility which became operational on June 27, 2001 ("Phase 1")
and Phase 2 which is to convert the peaking facility to a 560 MW combined-cycle operation is anticipated to
become operational in 2003.

Edison Mission Energy purchased Sunrise Power Company, a Delaware corporation  through its subsidiary Mission Del
Sol LLC, a Delaware limited liability company on November 17, 2000.

Sunrise was originally to be developed as an enhanced oil recovery ("EOR") cogeneration project.  By the summer
of 2000, Texaco Gasification and Power Holdings, Inc. ("Texaco") decided to abandon the project due to changes in
the oil field cogen economics.  EME approached Texaco and suggested that the original EOR project be reconfigured
and developed in two phases.  EME purchased the rights to the project, including two GE Fram 7FA gas turbines and
other major equipment that had already been procured.  On May 29, 2001, Sunrise Power Company was converted to
Sunrise Power Company, LLC a Delaware limited liability company and Texaco exercised its option to buy back 50%
of Sunrise.

(b)    Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission del Cielo, Inc.; Mission del Cielo, Inc. owns 100% of Mission del Sol LLC; Mission del Sol LLC owns 50%
of Sunrise Power Company LLC

(c)  Under the Sunrise partnership agreement, EME is obligated to provide 50% capital budget for the project.  As
of December 31, 2001, EME has paid $88,205,179.

(d) Capitalization or total equity = $101,974,042
Net income after taxes for 2001 = $13,842,988

(e)  Edison Mission Operation & Maintenance, Inc. and Sunrise have entered into that certain Amended and Restated
Operation and Maintenance Agreement, dated as of June 25, 2001.  As of December 31, 2001, EMOM has received
$343,690 for providing O&M services to Sunrise.

EMMT, a wholly owned subsidiary of Edison Mission Energy entered into an Energy Services Agreement with Sunrise,
wherein EMMT provides fuel procurement and power management services to Sunrise.   As of December 31, 2001,
Sunrise paid $287,849 to EMMT for services rendered under this agreement.




61


                                                     EXHIBIT A

         A CONSOLIDATING STATEMENT OF INCOME AND SURPLUS OF THE
CLAIMANT AND ITS SUBSIDIARY COMPANIES FOR THE LAST CALENDAR YEAR,
TOGETHER WITH A CONSOLIDATING BALANCE SHEET OF CLAIMANT AND ITS
SUBSIDIARY COMPANIES AS OF THE CLOSE OF SUCH CALENDAR YEAR.

         Consolidating statements of income and surplus for the year ended December 31, 2001, and consolidating
balance sheets as of December 31, 2001, for the claimant and its subsidiary companies.


                                                     EXHIBIT B

         AN ORGANIZATIONAL CHART SHOWING THE RELATIONSHIP OF EACH EWG
OR FOREIGN UTILITY COMPANY TO ASSOCIATE COMPANIES IN THE HOLDING
COMPANY SYSTEM.


         The above-named claimant has caused this statement to be duly executed on its behalf by its authorized
officer on this 28th day of February, 2002.

                                                     EDISON INTERNATIONAL

                                                     By:  Kenneth S. Stewart
                                                          ------------------
                                                     Kenneth S. Stewart
                                                     Assistant General Counsel



Corporate Seal
Attest:


Bonita J. Smith
---------------
Bonita J. Smith
Assistant Secretary


NAME, TITLE AND ADDRESS OF OFFICER TO WHOM NOTICES AND CORRESPONDENCE CONCERNING THIS STATEMENT SHOULD BE
ADDRESSED:
Kenneth S. Stewart                                          Assistant General Counsel
-------------------------------------------------------------------------------------
      (Name)                                                                       (Title)
2244 Walnut Grove Avenue, Post Office Box 999, Rosemead, CA 91770
-----------------------------------------------------------------
                                            (Address)



62






















                                                      SCHEDULE I
                                          SOUTHERN CALIFORNIA EDISON COMPANY
                                            ELECTRIC GENERATING PROPERTIES



63


                                                      SCHEDULE I
                                          SOUTHERN CALIFORNIA EDISON COMPANY
                                            ELECTRIC GENERATING PROPERTIES

                                                                                               Generator
                                              Location              Unit     Date of           Nameplate
Name of Plant                                 County                No.      Operation         Rating kW
--------------------------------------------- --------------------- -------- ----------------- ----------------

MAIN SYSTEM - SCE OWNED

COAL:

Four Corners                                  San Juan, NM          4        07/01/1969                818,100
    Owned by Others - 52%                                                                            (425,412)
                                                                                               ----------------
    Owned by SCE - 48%                                                                                 392,688

                                                                    5        07/01/1970                818,100
    Owned by Others - 52%                                                                            (425,412)
                                                                                               ----------------
    Owned by SCE - 48%                                                                                 392,688

                                                                             TOTAL SCE                 785,376
                                                                                               ================

Mohave                                        Clark, NV             1        04/01/1971                818,100
    Owned by Others - 44%                                                                            (359,964)
                                                                                               ----------------
    Owned by SCE - 56%                                                                                 458,136

                                                                    2        10/01/1971                818,100
    Owned by Others - 44%                                                                            (359,964)
                                                                                               ----------------
    Owned by SCE - 56%                                                                                 458,136

                                                                             TOTAL SCE                 916,272
                                                                                               ================

                                              TOTAL COAL                                             1,701,648
                                                                                               ================

NUCLEAR:

San Onofre                                    San Diego             1        01/01/1968                      0
    Owned by Others - 20%                                                                                    0
                                                                                               ----------------
    Owned by SCE - 80%                                                                                       0

                                                                    2        08/08/1983              1,127,000
    Owned by Others - 24.95%                                                                         (281,185)
                                                                                               ----------------
    Owned by SCE - 75.05%                                                                              845,815

                                                                    3        04/01/1984              1,127,000
    Owned by Others - 24.95%                                                                         (281,185)
                                                                                               ----------------
    Owned by SCE - 75.05%                                                                              845,815

                                                                             TOTAL SCE               1,691,630
                                                                                               ================

Palo Verde                                    Maricopa, AZ          1        02/01/1986              1,403,100
    Owned by Others - 84.2%                                                                        (1,181,410)
                                                                                               ----------------
    Owned by SCE - 15.8%                                                                               221,690

                                                                    2        09/19/1986              1,403,100
    Owned by Others - 84.2%                                                                        (1,181,410)
                                                                                               ----------------
    Owned by SCE - 15.8%                                                                               221,690




64




                                                                                               Generator
                                              Location              Unit     Date of           Nameplate
Name of Plant                                 County                No.      Operation         Rating kW
--------------------------------------------- --------------------- -------- ----------------- ----------------

                                                                    3        01/20/1988              1,403,100
    Owned by Others - 84.2%                                                                        (1,181,410)
                                                                                               ----------------
    Owned by SCE - 15.8%                                                                               221,690

                                                                             TOTAL SCE                 665,070
                                                                                               ================

                                              TOTAL NUCLEAR:                                         2,356,700
                                                                                               ================

HYDRO:

NORTHERN REGION HYDROELECTRIC PLANTS:

Big Creek #1                                  Fresno                1        11/08/1913                 19,800
                                                                    2        11/08/1913                 15,750
                                                                    3        07/12/1923                 21,600
                                                                    4        06/08/1925                 31,200
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                88,350

Big Creek #2                                  Fresno                3        12/18/1913                 15,750
                                                                    4        01/11/1914                 15,750
                                                                    5        02/01/1921                 17,500
                                                                    6        03/31/1925                 17,500
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                66,500

Big Creek #2A                                 Fresno                1        08/06/1928                 55,000
                                                                    2        12/21/1928                 55,000
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT               110,000

Big Creek #3                                  Fresno & Madera       1        10/03/1923                 34,000
                                                                    2        09/30/1923                 34,000
                                                                    3        10/05/1923                 34,000
                                                                    4        04/28/1948                 36,000
                                                                    5        02/24/1980                 36,450
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT               174,450

Big Creek #4                                  Fresno & Madera       1        06/12/1951                 50,000
                                                                    2        07/02/1951                 50,000
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT               100,000

Big Creek #4 Dam 7                            Fresno & Madera                                              350
(fishwater generator)

Big Creek #8                                  Fresno                1        08/16/1921                 30,000
                                                                    2        06/08/1929                 45,000
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                75,000

Mammoth Pool                                  Madera                1        03/28/1960                 95,000
                                                                    2        03/28/1960                 95,000
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT               190,000




65




                                                                                               Generator
                                              Location              Unit     Date of           Nameplate
Name of Plant                                 County                No.      Operation         Rating kW
--------------------------------------------- --------------------- -------- ----------------- ----------------
NORTHERN REGION HYDROELECTRIC PLANTS
(continued)

Mammoth Pool - Res.                           Madera                                                       937
(fishwater generator)

Portal                                        Fresno                1        12/22/1956                 10,800

John S. Eastwood                              Fresno                1        12/01/1987                199,800

                                              TOTAL NORTHERN REGION HYDRO
                                              PLANTS                                                 1,016,187
                                                                                               ================

EASTERN REGION HYDROELECTRIC PLANTS:

Fontana                                       San Bernardino        1        12/22/1917                  1,475
                                                                    2        12/22/1917                  1,475
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 2,950

Kaweah #1                                     Tulare                1        05/25/1929                  2,250

Kaweah #2                                     Tulare                2        09/13/1929                  1,800

Kaweah #3                                     Tulare                1        05/29/1913                  2,400
                                                                    2        05/29/1913                  2,400
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 4,800

Kern River #1                                 Kern                  1        05/19/1907                  6,570
                                                                    2        06/07/1907                  6,570
                                                                    3        07/29/1907                  6,570
                                                                    4        06/27/1907                  6,570
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                26,280

Kern River #3                                 Kern                  1        05/13/1921                 20,500
                                                                    2        03/22/1921                 19,675
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                40,175

Kern River Borel                              Kern                  1        12/31/1904                  3,000
                                                                    2        12/31/1904                  3,000
                                                                    3        01/23/1932                  6,000
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                12,000

Lytle Creek                                   San Bernardino        1        10/23/1904                    250
                                                                    2        09/15/1904                    250
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                   500

Ontario #1                                    Los Angeles           1        12/00/1902                    200
                                                                    2        12/00/1902                    200
                                                                    3        12/00/1902                    200
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                   600

Ontario #2                                    Los Angeles           1        06/13/1963                    320




66




                                                                                               Generator
                                              Location              Unit     Date of           Nameplate
Name of Plant                                 County                No.      Operation         Rating kW
--------------------------------------------- --------------------- -------- ----------------- ----------------
EASTERN REGION HYDROELECTRIC PLANTS
(continued)

San Gorgonio #1                               Riverside             1        12/05/1923                  1,500

San Gorgonio #2                               Riverside             1        12/17/1923                    938

Santa Ana #1                                  San Bernardino        1        02/14/1899                    800
                                                                    2        02/10/1899                    800
                                                                    3        01/09/1899                    800
                                                                    4        01/10/1899                    800
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 3,200

Santa Ana #3                                  San Bernardino        1        11/16/1999                  3,100
[Santa Ana #2&#3 replaced by new Santa Ana #3 plant]

Sierra                                        Los Angeles           1        01/12/1922                    240
                                                                    2        02/16/1922                    240
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                   480

Tule River                                    Tulare                1        09/14/1909                  1,260
                                                                    2        09/14/1909                  1,260
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 2,520

Mill Creek #1                                 San Bernardino        1        09/07/1893                    800

Mill Creek #2                                 San Bernardino        1        08/03/1904                    250

Mill Creek #3                                 San Bernardino        3        03/20/1903                  1,000
                                                                    4        01/23/1904                  1,000
                                                                    5        03/03/1904                  1,000
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 3,000

Bishop Creek #2                               Inyo                  1        11/00/1908                  2,500
                                                                    2        11/00/1908                  2,500
                                                                    3        06/00/1911                  2,320
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 7,320

Bishop Creek #3                               Inyo                  1        06/12/1913                  2,750
                                                                    2        06/12/1913                  2,340
                                                                    3        06/12/1913                  2,750
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 7,840

Bishop Creek #4                               Inyo                  1        09/20/1905                  1,000
                                                                    2        09/20/1905                  1,000
                                                                    3        00/00/1906                  1,985
                                                                    4        10/01/1907                  1,985
                                                                    5        00/00/1909                  1,985
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 7,955

Bishop Creek #5                               Inyo                  1        05/30/1943                  2,000
                                                                    2        06/01/1919                  2,532
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 4,532




67




                                                                                               Generator
                                              Location              Unit     Date of           Nameplate
Name of Plant                                 County                No.      Operation         Rating kW
--------------------------------------------- --------------------- -------- ----------------- ----------------
EASTERN REGION HYDROELECTRIC PLANTS
(continued)

Bishop Creek #6                               Inyo                  1        03/12/1913                  1,600

Lundy                                         Mono                  1        12/09/1911                  1,500
                                                                    2        02/02/1912                  1,500
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 3,000

Poole                                         Mono                  1        00/00/1924                 11,250

Rush Creek                                    Mono                  1        10/17/1916                  4,400
                                                                    2        12/11/1917                  4,000
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 8,400

                                              TOTAL EASTERN REGION HYDRO
                                              PLANTS                                                   159,360
                                                                                               ================

                                              TOTAL HYDRO PLANTS                                     1,175,547
                                                                                               ================

TOTAL SCE OWNED RESOURCES (MAIN SYSTEM)
                                                                                                     5,233,895
                                                                                               ================


ISOLATED SYSTEMS:

Pebbly Beach (Diesel)                         Los Angeles           7        07/03/1958                  1,000
                                              (Catalina)            8        06/26/1963                  1,500
                                                                    10       07/25/1966                  1,125
                                                                    12       06/18/1976                  1,550
                                                                    14       10/24/1986                  1,400
                                                                    15       12/31/1995                  2,800
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                 9,375

Catalina Hydro                                Los Angeles           1        05/05/1983                     30
                                                                    2        07/24/1985                     22
                                                                    3        07/24/1985                     57
                                                                             ----------------- ----------------
                                                                             TOTAL PLANT                   109

TOTAL SCE OWNED RESOURCES:                                                                               9,484
                                                                                               ================

TOTAL ISOLATED SYSTEMS RESOURCES
                                                                                                         9,484
                                                                                               ================





68










                                                     EXHIBIT A
                                  CONSOLIDATING STATEMENTS OF INCOME AND SURPLUS
                                           CONSOLIDATING BALANCE SHEETS



69


                                                     EXHIBIT A
                                  CONSOLIDATING STATEMENTS OF INCOME AND SURPLUS
                                           CONSOLIDATING BALANCE SHEETS

Attached hereto as Exhibit A are the following financial statements
dated as of December 31, 2001, or for the year then ended:

                                                                                                     PAGES
Consolidating Balance Sheet and Consolidating Statements
of Income and Retained Earnings, unless otherwise noted:

-------------------------------Part 2------------------------------
Edison International and Subsidiaries                                                                86-97
Southern California Edison Company and Subsidiaries                                                 98-113
Southern California Edison Company and Subsidiaries
       Equity Investments                                                                              114
Edison Ventures and Subsidiaries                                                                   115-120
The Mission Group and Subsidiaries                                                                 121-132
Edison Enterprises and Subsidiaries                                                                133-138
Edison Source and Subsidiaries                                                                     139-144
Edison Select and Subsidiaries                                                                     145-153
Edison Technology Solutions and Subsidiaries                                                       154-159
Edison Technology Solutions and Subsidiaries
       Equity Investments                                                                              160
Mission Energy Holding Company and Subsidiaries                                                    161-166


-------------------------------Part 3------------------------------
Edison Capital and Subsidiaries
       Consolidating Balance Sheet (ASSETS)                                                        167-198


-------------------------------Part 4------------------------------
Edison Capital and Subsidiaries
       Consolidating Balance Sheet (LIABILITIES)                                                   199-230


-------------------------------Part 5------------------------------
Edison Capital and Subsidiaries
       Consolidating Statements of Income and Retained Earnings                                    231-262


-------------------------------Part 6a-----------------------------
Edison Capital and Subsidiaries
       Equity Investments in Real Estate Limited Partnerships (A-L)
       [Based on financial statements as of December 31, 2000]                                     263-294


-------------------------------Part 6b-----------------------------
Edison Capital and Subsidiaries
       Equity Investments in Real Estate Limited Partnerships (M-Z), Etc.
       [Based on financial statements as of December 31, 2000]                                     295-331


-------------------------------Part 7------------------------------
Mission Land Company and Subsidiaries                                                              332-346
Mission Power Engineering Company and Subsidiaries                                                 347-352



70


                                                                                                     PAGES
-------------------------------Part 8a-----------------------------
Edison Mission Energy and Subsidiaries
       Consolidating Balance Sheet                                                                 353-418


-------------------------------Part 8b------------------------------
Edison Mission Energy and Subsidiaries
       Consolidating Statements of Income and Retained Earnings                                    419-451
Edison Mission Energy and Subsidiaries
       Equity Investments                                                                          452-459


-------------------------------Part 9------------------------------
Edison Mission Energy Fuel and Subsidiaries                                                        460-468
Edison Mission Holdings Co. and Subsidiaries                                                       469-477
EME CP Holdings Co. and Subsidiaries                                                               478-492
EME Eastern Holdings Co. and Subsidiaries                                                          493-498
Hanover Energy Company and Subsidiaries                                                            499-504
Majestic Energy Limited and Subsidiaries                                                           505-510
Midwest Generation EME, LLC and Subsidiaries                                                       511-519
Mission Del Cielo, Inc. and Subsidiaries                                                           520-525
Mission Energy Holdings International, Inc. and Subsidiaries                                       526-534
Mission Energy Wales Company and Subsidiaries                                                      535-564


-------------------------------Part 10------------------------------
MEC International B.V. and Subsidiaries                                                            565-615
MECI, Edison Mission Energy Asia Pte Ltd and Subsidiaries                                          616-624
MECI, Edison Mission Millennium B.V. and Subsidiaries                                              625-633
MECI, Edison Mission Operation & Maintenance Services B.V. and Subsidiaries                        634-639
MECI, EME Atlantic Holdings Limited and Subsidiaries                                               640-648
MECI, EMEA, Mission Energy Universal Holdings and Subsidiaries                                     649-654
MECI, Global Generation B.V. and Subsidiaries                                                      655-660
MECI, GGBV, Edison First Power Holdings II and Subsidiaries                                        661-666


-------------------------------Part 11------------------------------
MECI, GGBV, EFPHII, Edison First Power Holdings I and Subsidiaries                                 667-675
MECI, GGBV, EFPHII, EFPHI, South Australian Holdings Ltd. and Subsidiaries                         676-681
MECI, GGBV, EFPHII, EFPHI, SAHL, EME International Dragon Limited                                  682-690
MECI, GGBV, EFPHII, EFPHI, Maplekey Holdings Limited and Subsidiaries                              691-696
MECI, Hydro Energy B.V. and Subsidiaries                                                           697-702
MECI, Iberian Hy-Power Amsterdam B.V. and Subsidiaries                                             703-714
MECI, Latrobe Power Pty Ltd and Subsidiaries                                                       715-720
MECI, Latrobe Valley B.V. and Subsidiaries                                                         721-726
MECI, Loy Yang Holdings Pty Ltd and Subsidiaries                                                   727-735
MECI, Loy Yang, Edison Mission Energy Holdings Pty Ltd and Subsidiaries                            736-750
MECI, Loy Yang, Latrobe Power Pty Ltd and Subsidiaries                                             751-756
MECI, Loy Yang, Mission Energy Ventures Australia Pty Ltd and Subsidiaries                         757-762
MECI, Loy Yang, Traralgon Power Pty. Ltd. and Subsidiaries                                         763-768




71


                                                                                                     PAGES
-------------------------------Part 12------------------------------
MECI, MEC Esenyurt B.V. and Subsidiaries                                                           769-774
MECI, MEC International Holdings B.V. and Subsidiaries                                             775-795
MECI, MECI Holdings, MEC Esenyurt B.V. and Subsidiaries                                            796-801
MECI, MECI Holdings, MEC Perth B.V. and Subsidiaries                                               802-807
MECI, MECI Holdings, MEC San Pascual B.V. and Subsidiaries                                         808-813
MECI, MECI Holdings, MEC Wales B.V. and Subsidiaries                                               814-819
MECI, MECI Holdings, MEC Wales, Mission Hydro Limited
       Partnership and Subsidiaries                                                                820-825
MECI, MECI Holdings, MEC Wales, MHLP, EME Generation
       Holdings Limited and Subsidiaries                                                           826-843
MECI, MEC Perth B.V. and Subsidiaries                                                              844-849
MECI, MEC San Pascual B.V. and Subsidiaries                                                        850-855


-------------------------------Part 13------------------------------
MECI, MEC Wales B.V. and Subsidiaries                                                              856-860
MECI, MEC Wales, Mission Hydro Limited Partnership and Subsidiaries                                861-867
MECI, MEC Wales, MHLP, EME Generation Holdings Limited and Subsidiaries                            868-884
MECI, Mission Energy Company (U.K.) Limited and Subsidiaries                                       885-896
MECI, MEC(UK), Mission Hydro (UK) Limited and Subsidiaries                                         897-903
MECI, MEC(UK), MH(UK), First Hydro Holdings Co. and Subsidiaries                                   904-909
MECI, MEC(UK), MH(UK), Mission Hydro Limited Partnership and Subsidiaries                          910-915
MECI, MEC(UK), MH(UK), MHLP, EME Generation Holdings Limited and Subsidiaries                      916-933
MECI, MEC(UK), Pride Hold Limited and Subsidiaries                                                 934-939
MECI, Pride Hold Limited and Subsidiaries                                                          940-945
MECI, EcoElectrica S.a.r.l. and Subsidiaries                                                       946-954
MECI, Traralgon Power Pty. Ltd. and Subsidiaries                                                   955-960
MEC International B.V. and Subsidiaries Equity Investments                                         961-962




72






















                                                     EXHIBIT B
                                        EXEMPT WHOLESALE GENERATORS [EWGs]
                                       AND FOREIGN UTILITY COMPANIES [FUCOs]



73


                                                     EXHIBIT B
                                        EXEMPT WHOLESALE GENERATORS [EWGs]
                                       AND FOREIGN UTILITY COMPANIES [FUCOs]

EDISON CAPITAL
--------------

4.EC01  ELECTRICIDAD DE LA PAZ S.A.  [FUCO]
00    Edison International
01       The Mission Group
02           Edison Capital
03              Edison Funding Company
04                 Mission Funding Epsilon
05                    Edison Capital International (Bermuda) Ltd.
06                        Edison Capital Latin American Investments (Bermuda) Ltd.
07                           AIG-GE Capital Latin American Infrastructure Fund LP
08                              Andes Energy XII Ltd.
09                                  Paz Holdings Ltd.
10                                     Electricidad de La Paz S.A.


4.EC02  EMPRESA DE LUZ Y FUERZA ELECTRICA DE ORURO S.A.  [FUCO]
00    Edison International
01       The Mission Group
02           Edison Capital
03              Edison Funding Company
04                 Mission Funding Epsilon
05                    Edison Capital International (Bermuda) Ltd.
06                        Edison Capital Latin American Investments (Bermuda) Ltd.
07                           AIG-GE Capital Latin American Infrastructure Fund LP
08                              Andes Energy XII Ltd.
09                                  Paz Holdings Ltd.
10                                     Empresa de Luz y Fuerza Electrica de Oruro S.A.


4.EC03  EPZ MISSION FUNDING MU TRUST  [FUCO]
00    Edison International
01       The Mission Group
02           Edison Capital
03              Edison Funding Company
04                 Mission Funding Epsilon
05                    Mission Funding Alpha
06                        Mission Funding Mu
07                           EPZ Mission Funding Mu Trust


4.EC04  EPZ MISSION FUNDING NU TRUST  [FUCO]
00    Edison International
01       The Mission Group
02           Edison Capital
03              Edison Funding Company
04                 Mission Funding Epsilon
05                    Mission Funding Delta
06                        Mission Funding Nu
07                           EPZ Mission Funding Nu Trust




74


4.EC05  LAKOTA RIDGE LLC  [EWG]
00    Edison International
01       The Mission Group
02           Edison Capital
03              Edison Funding Company
04                 Mission Funding Zeta
05                    Lakota Ridge LLC 75%


4.EC06  SHAOKATAN HILLS LLC  [EWG]
00    Edison International
01       The Mission Group
02           Edison Capital
03              Edison Funding Company
04                 Mission Funding Zeta
05                    Shaokatan Hills LLC 75%


4.EC07  WOODSTOCK HILLS LLC  [EWG]
00    Edison International
01       The Mission Group
02           Edison Capital
03              Edison Funding Company
04                 Mission Funding Zeta
05                    Woodstock Hills LLC 75%


4.EC08  STORM LAKE PARTNERS I LLC  [EWG]
00    Edison International
01       The Mission Group
02           Edison Capital
03              Edison Funding Company
04                 Mission Iowa Wind Company
05                    Storm Lake Partners I LLC 99%


EDISON MISSION ENERGY
---------------------


4.EME01  BROOKLYN NAVY YARD COGENERATION PARTNERS, LP  [EWG]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy New York, Inc.
05                    Brooklyn Navy Yard Cogeneration Partners, LP (1% GP & 49%LP)


4.EME02  COMMONWEALTH ATLANTIC LIMITED PARTNERSHIP  [EWG]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Hanover Energy Company
05                    Chickahominy River Energy Corp.
06                        Commonwealth Atlantic Limited Partnership (50%)




75


4.EME03  GORDONSVILLE ENERGY, LP  [EWG]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Madison Energy Company
05                    Gordonsville Energy, LP (49%)

00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Rapidan Energy Company
05                    Gordonsville Energy, LP (1%)


4.EME04  HARBOR COGENERATION COMPANY  [EWG]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 South Coast Energy Company
05                    Harbor Cogeneration Company (30%GP)


4.EME05  EME HOMER CITY GENERATION L.P.  [EWG]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Edison Mission Holdings Co.
05                    Chestnut Ridge Energy Company
06                        EME Homer City Generation L.P. (99%LP)

00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Edison Mission Holdings Co.
05                    Mission Energy Westside, Inc.
06                        EME Homer City Generation L.P. (1%GP)


4.EME06  MIDWEST GENERATION, LLC  [EWG]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Midwest Generation EME, LLC
05                    Edison Mission Midwest Holdings Co.
06                        Midwest Generation, LLC


4.EME07  NEVADA SUN-PEAK LIMITED PARTNERSHIP  [EWG]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Quartz Peak Energy Company
05                    Nevada Sun-Peak Limited Partnership (50%)


76




4.EME08  ECOELECTRICA L.P.  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        EcoElectrica S.a.r.l.
07                           EME del Caribe Holding GmbH
08                              EME del Caribe
09                                  EcoElectrica Holdings, Ltd. 50%
10                                     EcoElectrica Ltd.
11                                        Ecoelectrica LP (1%)
---
10                                     Ecoelectrica LP (99%)


4.EME09  CONTACT ENERGY LIMITED  [EWG]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        EME Atlantic Holdings Limited
07                           EME Ascot Limited
08                              EME Buckingham Limited
09                                  EME Precision B.V.
10                                     Mission Energy Universal Holdings
11                                        Mission Energy Pacific Holdings
12                                           Contact Energy Limited (50.598%)
---
10                                     Mission Energy Universal Holdings
11                                        Contact Energy Limited (0.624%)


4.EME10  PERTH POWER PARTNERSHIP  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        MEC Perth B.V. (99%)
07                           Kwinana Power Partnership (99%)
08                              Perth Power Partnership (70%)
---
06                        MEC International Holdings B.V.
07                           MEC Perth B.V. (1%)
08                              Kwinana Power Partnership (99%)
09                                  Perth Power Partnership (70%)



77


00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Loy Yang Holdings Pty Ltd.
07                           Edison Mission Energy Holdings Pty Ltd.
08                              Mission Energy (Kwinana) Pty Ltd.
09                                  Kwinana Power Partnership (1%)
10                                     Perth Power Partnership (70%)


4.EME11  LOY YANG B JOINT VENTURE  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
---
06A                       Latrobe Power Pty Ltd (99%)
07A                          Mission Victoria Partnership (52.31%)
08A                             Latrobe Power Partnership (99%)
09A                                 Loy Yang B Joint Venture (51%)
---
06B                       Loy Yang Holdings Pty Ltd
07B                          Edison Mission Energy Holdings Pty Ltd
08B                             Edison Mission Energy Australia Ltd
09B                                 Latrobe Power Partnership (1%)
10B                                    Loy Yang B Joint Venture (51%)
---
06C                       Loy Yang Holdings Pty Ltd
07C                          Latrobe Power Pty Ltd (1%)
08C                             Mission Victoria Partnership (52.31%)
09C                                 Latrobe Power Partnership (99%)
10C                                    Loy Yang B Joint Venture (51%)
---
06D                       Loy Yang Holdings Pty Ltd
07D                          Mission Energy Ventures Australia Pty Ltd
08D                             Mission Victoria Partnership (1%)
09D                                 Latrobe Power Partnership (99%)
10D                                    Loy Yang B Joint Venture (51%)
---
06E                       Loy Yang Holdings Pty Ltd
07E                          Traralgon Power Pty Ltd (1%)
08E                             Mission Victoria Partnership (46.69%)
09E                                 Latrobe Power Partnership (99%)
10E                                    Loy Yang B Joint Venture (51%)
---
06F                       Traralgon Power Pty Ltd (99%)
07F                          Mission Victoria Partnership (46.69%)
08F                             Latrobe Power Partnership (99%)
09F                                 Loy Yang B Joint Venture (51%)
---


78


06G                       Mission Energy Company (UK) Limited
07G                          Mission Hydro (UK) Ltd
08G                             Mission Hydro Limited Partnership (1%)
09G                                 EME Generation Holdings Ltd
10G                                    EME Victoria Generation Ltd
11G                                       Mission Energy Development Australia Pty Ltd
12G                                          Gippsland Power Pty Ltd
13G                                              Loy Yang B Joint Venture (49%)
---
06H                       MEC Wales B.V. (99%)
07H                          Mission Hydro Limited Partnership (69%)
08H                             EME Generation Holdings Ltd
09H                                 EME Victoria Generation Ltd
10H                                    Mission Energy Development Australia Pty Ltd
11H                                       Gippsland Power Pty Ltd
12H                                          Loy Yang B Joint Venture (49%)
---
06I                       MEC International Holdings B.V.
07I                          MEC Wales B.V. (1%)
08I                             Mission Hydro Limited Partnership (69%)
09I                                 EME Generation Holdings Ltd
10I                                    EME Victoria Generation Ltd
11I                                       Mission Energy Development Australia Pty Ltd
12I                                          Gippsland Power Pty Ltd
13I                                              Loy Yang B Joint Venture (49%)

00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Wales Company
05                    Mission Hydro Limited Partnership (30%)
06                        EME Generation Holdings Ltd
07                           EME Victoria Generation Ltd
08                              Mission Energy Development Australia Pty Ltd
09                                  Gippsland Power Pty Ltd
10                                     Loy Yang B Joint Venture (49%)


4.EME12  PT. PAITON ENERGY COMPANY  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        MEC Indonesia B.V. (99%)
07                           P. T. Paiton Energy Company (40%)
---
06                        MEC International Holdings B.V.
07                           MEC Indonesia B.V. (1%)
08                              P. T. Paiton Energy Company (40%)




79


4.EME13  TRI ENERGY COMPANY LIMITED  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        EME Tri Gen B.V.
07                           Tri Energy Company Limited (25%)


4.EME14  DERWENT COGENERATION LIMITED  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Mission Energy Company (UK) Limited
07                           Derwent Cogeneration Limited (33%)


4.EME15  FIRST HYDRO COMPANY  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
---
06J                       Mission Energy Company (UK) Limited
07J                          Mission Hydro (UK) Ltd
08J                             Mission Hydro Limited Partnership (1%)
09J                                 EME Generation Holdings Ltd
10J                                    First Hydro Holdings Company (99%)
11J                                       First Hydro Company (99%)
---
06K                       Mission Energy Company (UK) Limited
07K                          Mission Hydro (UK) Ltd
08K                             Mission Hydro Limited Partnership (1%)
09K                                 EME Generation Holdings Ltd
10K                                    First Hydro Holdings Company (99%)
11K                                       First Hydro Finance plc
12K                                          First Hydro Company (1%)
---
06L                       MEC Wales B.V. (99%)
07L                          Mission Hydro Limited Partnership (69%)
08L                             EME Generation Holdings Ltd
09L                                 First Hydro Holdings Company (99%)
10L                                    First Hydro Company (99%)
---
06M                       MEC Wales B.V. (99%)
07M                          Mission Hydro Limited Partnership (69%)
08M                             EME Generation Holdings Ltd
09M                                 First Hydro Holdings Company (99%)
10M                                    First Hydro Finance plc
11M                                       First Hydro Company (1%)
---


80


06N                       MEC International Holdings B.V.
07N                          MEC Wales B.V. (1%)
08N                             Mission Hydro Limited Partnership (69%)
09N                                 EME Generation Holdings Ltd
10N                                    First Hydro Holdings Company (99%)
11N                                       First Hydro Company (99%)
---
06O                       MEC International Holdings B.V.
07O                          MEC Wales B.V. (1%)
08O                             Mission Hydro Limited Partnership (69%)
09O                                 EME Generation Holdings Ltd
10O                                    First Hydro Holdings Company (99%)
11O                                       First Hydro Finance plc
12O                                          First Hydro Company (1%)

00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Wales Company
05                    Mission Hydro Limited Partnership (30%)
06                        EME Generation Holdings Ltd
07                           First Hydro Holdings Company (99%)
---
08                              First Hydro Company (99%)
---
08                              First Hydro Finance plc
09                                  First Hydro Company (1%)

00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Mission Energy Company (UK) Limited
07                           Mission Hydro (UK) Ltd
08                              First Hydro Holdings Company (1%)
09                              First Hydro Company (99%)
---
09                                  First Hydro Finance plc
10                                     First Hydro Company (1%)


4.EME16  EDISON FIRST POWER LIMITED  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                 MEC International B.V.
06                        Global Generation B.V.
07                        Edison First Power Holdings I
08                              Maplekey Holdings Limited
09                                  Maplekey UK Finance Limited
10                                     Maplekey UK Limited
11                                        Edison First Power Limited




81


4.EME17  IBERICA DE ENERGIAS, S.A.  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Hydro Energy B.V. (10%)
07                           Iberica de Energias, S.A. (96.65%)

00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Iberian Hy-Power Amsterdam B.V.
07                           Hydro Energy B.V. (90%)
08                              Iberica de Energias, S.A. (96.65%)
---
07                        Iberica de Energias (3.35%)


4.EME18  ELECTROMETALURGICA DEL EBRO, S.A.  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Hydro Energy B.V. (10%)
07                           Iberica de Energias, S.A. (96.65%)
08                              Electrometalurgica del Ebro, S.A. (91.32%)

00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Iberian Hy-Power Amsterdam B.V.
07                           Hydro Energy B.V. (90%)
08                              Iberica de Energias, S.A. (96.65%)
09                                  Electrometalurgica del Ebro, S.A. (91.32%)
--
07                           Iberica de Energias, S.A. (3.35%)
08                              Electrometalurgica del Ebro, S.A. (91.32%)


4.EME19  LAKELAND POWER LIMITED  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Mission Energy Company (UK) Limited
07                           Pride Hold Limited (99%)
08                              Lakeland Power Limited
---


82


06                        Pride Hold Limited (1%)
07                           Lakeland Power Limited


4.EME20  ISAB ENERGY, s.r.l.  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        MEC Priolo B.V. (99%)
07                           ISAB Energy, s.r.l. (49%)
---
06                        MEC International Holdings B.V.
07                           MEC Priolo B.V. (1%)
08                              ISAB Energy, s.r.l. (49%)


4.EME21  ITALIAN VENTO POWER CORPORATION 4 S.r.l.  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Edison Mission Wind Power Italy B.V.
07                           Italian Vento Power Corporation 4 S.r.l. (50%)


4.EME22  DOGA ENERJI URETIM SANAYI VE TICARET L.S.  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        MEC Esenyurt B.V. (99%)
07                           Doya Enerji Uretim Sanayi ve Ticaret L.S. (80%)
---
06                        MEC International Holdings B.V.
07                           MEC Esenyurt B.V. (1%)
08                              Doya Enerji Uretim Sanayi ve Ticaret Anonim Sirketi (80%)


4.EME23  CBK POWER COMPANY LTD.  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Edison Mission Millennium B.V.
07                           EME Caliraya B.V. (75%)
08                              CBK Power Company Ltd. (49%)
---
07                           EME Kayalaan B.V.
08                              CBK Power Company Ltd. (1%)




83


4.EME24  KALAYAAN POWER MANAGEMENT CORPORATION  [FUCO]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Energy Holdings International, Inc.*
05                    MEC International B.V.
06                        Edison Mission Operation and Maintenance Services B.V.
07                           Kalayaan Power Management Corporation (50%)


4.EME25  SUNRISE POWER COMPANY LLC  [EWG]
00    Edison International
01       The Mission Group
02           Mission Energy Holding Company
03              Edison Mission Energy
04                 Mission Del Cielo, Inc.
05                    Mission Del Sol, LLC
06                        Sunrise Power Company, LLC (50%)


*  Mission Energy Holdings International, Inc. directly owns 99.97% (100% of the Class A shares) of MEC
International B.V. ("MECI") and indirectly owns 0.02% of MECI through its wholly owned subsidiaries EME UK
International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and EME Southwest Power Corporation,
which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy owns 0.01% (100% of the Class D
shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.




84


[INTENTIONALLY LEFT BLANK]




85













Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)



                                                              Southern             The Mission Group    Edison Ventures
                                                              California Edison    Consolidated         Consolidated
                                                              Company
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                 $3,414,313             $533,320
Receivables - net                                                     1,092,401            1,397,695                   $7
Accrued unbilled revenue                                                450,649
Fuel inventory                                                           13,823              110,124
Materials and supplies, at average cost                                 146,016               57,435
Accumulated deferred income taxes - net                                 445,227                                         3
Regulatory assets - net                                                  83,095
Trading and price risk management assets                                                      64,729
Prepayments and other current assets                                    144,733               85,005
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                  5,790,317            2,248,308                   10
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                               158,992            6,252,969
Nuclear decommissioning trusts                                        2,275,403
Investments in partnerships
  and unconsolidated subsidiaries                                                          2,252,776
Investments in leveraged leases                                                            2,385,699
Other investments                                                       223,918                                     2,406
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                     2,658,313           10,891,444                2,406
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution                                      13,567,641
  Generation                                                          1,729,431
Accumulated provision for depreciation
  and decommissioning                                                (7,969,358)
Construction work in progress                                           556,598
Nuclear fuel, at amortized cost                                         128,949
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant                                                   8,013,260
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                                     633,042
Regulatory assets - net                                               5,528,224
Other deferred charges                                                  474,556            1,782,831
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                6,002,780            2,415,873
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations                                                            250,571
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                        $22,464,670          $15,806,196               $2,416
============================================================= ==================== ==================== ====================






86



Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Insurance     Edison Drives        Edison
                                                              Services, Inc.       Electric             International
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                    $12,245                                   $31,434
Receivables - net                                                         9,320                  $35              103,528
Accrued unbilled revenue
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets                                                                                2,957
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     21,565                   35              137,919
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                                           1,631
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                                                               5,989,341
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                                                               5,990,972
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                    8,908                                     3,552
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                    8,908                                     3,552
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                            $30,473                  $35           $6,132,443
============================================================= ==================== ==================== ====================






87



Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              EIX Trust I          EIX Trust II         EIX Trust III
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                       $34,609              $24,618
Accrued unbilled revenue
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     34,609               24,618
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases                                         515,464              335,052
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                       515,464              335,052
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                           $550,073             $359,670
============================================================= ==================== ==================== ====================






88



Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        Edison
                                                              Adjustments          International
                                                                                   Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------

Cash and equivalents                                                                      $3,991,372
Receivables - net                                                   ($1,403,479)           1,258,734
Accrued unbilled revenue                                                                     450,649
Fuel inventory                                                                               123,947
Materials and supplies, at average cost                                                      203,451
Accumulated deferred income taxes - net                                 805,481            1,250,711
Regulatory assets - net                                                                       83,095
Trading and price risk management assets                                                      64,729
Prepayments and other current assets                                                         232,695
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                   (597,998)           7,659,383
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                  6,413,592
Nuclear decommissioning trusts                                                             2,275,403
Investments in partnerships
  and unconsolidated subsidiaries                                    (5,989,341)           2,252,776
Investments in leveraged leases                                        (850,516)           2,385,699
Other investments                                                                            226,324
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                    (6,839,857)          13,553,794
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution                                                           13,567,641
  Generation                                                                               1,729,431
Accumulated provision for depreciation
  and decommissioning                                                                     (7,969,358)
Construction work in progress                                                                556,598
Nuclear fuel, at amortized cost                                                              128,949
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant                                                                        8,013,260
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                                     633,042
Regulatory assets - net                                                                    5,528,224
Other deferred charges                                                 (971,915)           1,297,932
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                 (971,915)           7,459,198
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations                                       (45,755)             204,816
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                         $8,455,525          $36,890,451
============================================================= ==================== ==================== ====================






89



Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Southern             The Mission Group    Edison Ventures
                                                              California Edison    Consolidated         Consolidated
                                                              Company
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                      $2,126,840             $318,241
Long-term debt classified as due within one year                      2,996,300              352,607
Preferred stock to be redeemed within one year                          105,000
Accounts payable                                                      3,260,814              184,535                  $25
Accrued taxes                                                           834,835               17,587
Regulatory liabilities - net
Trading and price risk management liabilities                                                 23,681
Other current liabilities                                             1,645,321              465,654
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                            10,969,110            1,362,305                   25
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                        2,888,477            7,299,384
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                               3,365,226            2,997,996
Accumulated deferred investment tax credits                             153,460               18,866
Customer advances and other deferred credits                            738,873              935,417
Power-purchase contracts                                                355,879
Accumulated provision for pension and benefits                          419,901               57,111
Other long-term liabilities                                             147,503
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                          5,180,842            4,009,390
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations                                                        71,058
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest                                                           381              344,092
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption                                   128,755
  Subject to mandatory redemption                                       150,700
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures                                                           150,000
Other preferred securities                                                                   103,950
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries                              279,455              253,950
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                          2,168,054              147,866
Additional paid-in capital                                              336,505            3,300,435                2,406
Accumulated other comprehensive income (loss)                           (22,194)            (306,502)
Retained earnings                                                       664,040             (675,782)                 (15)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                     3,146,405            2,466,017                2,391
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                          $22,464,670          $15,806,196               $2,416
============================================================= ==================== ==================== ====================






90



Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Insurance     Edison Drives        Edison
                                                              Services, Inc.       Electric             International
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                         $1,410                  $83           $1,067,258
Accrued taxes                                                                                                  (1,315,561)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                 8,694                                   329,924
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                10,104                   83               81,621
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                                                                  2,417,491
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                    (369)                                    4,128
Accumulated deferred investment tax credits
Customer advances and other deferred credits                                                                          414
Power-purchase contracts
Accumulated provision for pension and benefits                                                                     27,761
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                               (369)                                   32,303
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                                                    1,966,815
Additional paid-in capital                                                1,729
Accumulated other comprehensive income (loss)
Retained earnings                                                        19,008                  (48)           1,634,213
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        20,738                  (48)           3,601,028
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                              $30,473                  $35           $6,132,443
============================================================= ==================== ==================== ====================






91



Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              EIX Trust I          EIX Trust II         EIX Trust III
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        $16,576              $10,633
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                33,594               23,898
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                50,170               34,531
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures                                      484,769              315,131
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries                              484,769              315,131
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             15,464               10,052
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                          (330)                 (44)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        15,134               10,008
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                             $550,073             $359,670
============================================================= ==================== ==================== ====================






92



Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        Edison
                                                              Adjustments          International
                                                                                   Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                                           $2,445,081
Long-term debt classified as due within one year                                           3,348,907
Preferred stock to be redeemed within one year                                               105,000
Accounts payable                                                    ($1,127,617)           3,413,717
Accrued taxes                                                           805,481              342,342
Regulatory liabilities - net
Trading and price risk management liabilities                                                 23,681
Other current liabilities                                              (320,405)           2,186,680
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                              (642,541)          11,865,408
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                       (1,823,643)          10,781,709
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                                    6,366,981
Accumulated deferred investment tax credits                                                  172,326
Customer advances and other deferred credits                                               1,674,704
Power-purchase contracts                                                                     355,879
Accumulated provision for pension and benefits                                               504,773
Other long-term liabilities                                                                  147,503
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                               9,222,166
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations                                                        71,058
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest                                                                            344,473
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption                                                        128,755
  Subject to mandatory redemption                                                            150,700
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures                                                           949,900
Other preferred securities                                                                   103,950
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries                                                 1,333,305
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                         (2,341,437)           1,966,815
Additional paid-in capital                                           (3,641,075)
Accumulated other comprehensive income (loss)                                               (328,696)
Retained earnings                                                        (6,829)           1,634,213
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                    (5,989,341)           3,272,332
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                          ($8,455,525)         $36,890,451
============================================================= ==================== ==================== ====================






93



Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Southern             The Mission Group    Edison Ventures
                                                                California Edison    Consolidated         Consolidated
                                                                Company
                                                                Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility                                                       $8,125,815
Nonutility power generation                                                                 $2,967,856
Financial services and other                                                                   347,531
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                 8,125,815            3,315,387
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel                                                                      211,534              916,848
Purchased power                                                         3,770,379
Provisions for regulatory adjustment clauses - net                     (3,027,844)
Other operation and maintenance                                         1,771,055            1,243,850                   $4
Depreciation, decommissioning and amortization                            680,200              292,039
Property and other taxes                                                  111,740                1,750
Net gain on sale of utility plant                                          (8,625)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                3,508,439            2,454,487                    4
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                 4,617,376              860,900                   (4)
Interest and dividend income                                              215,067               68,454
Other nonoperating income                                                  56,897               51,440
Interest expense - net of amounts capitalized                            (784,858)            (691,935)
Other nonoperating deductions                                             (38,492)             (61,894)
Dividends on preferred securities                                                              (22,157)
Dividends on utility preferred stock                                      (22,449)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                   4,043,541              204,695                   (4)
Income taxes (benefit)                                                  1,658,033               56,123                   (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                2,385,508              148,572                   (3)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                                        (2,222,543)
Income taxes (benefit) on discontinued operations                                             (855,618)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                       2,385,508           (1,218,353)                  (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                  (1,721,599)             707,576                  (12)
Dividends declared on common stock                                                            (165,005)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                          $664,040            ($675,782)                ($15)
=============================================================== ==================== ==================== ====================





94



Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Catalina             Edison Insurance     Edison Drives
                                                                                     Services, Inc.       Electric
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                                   $12,124
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                         12,124
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                                     82                   $7
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                                            82                    7
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                                         12,042
Interest and dividend income                                                                     1,283
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                                           13,325                   (7)
Income taxes (benefit)                                                                           5,015                   (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                                         8,310                   (5)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                                                8,310                   (5)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                                           10,698                  (43)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                                                $19,008                 ($48)
=============================================================== ==================== ==================== ====================





95



Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                EIX Trust I          EIX Trust II         EIX Trust III
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)
Interest and dividend income                                              $41,374              $29,421
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities                                         (40,709)             (28,909)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                         665                  512
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                      665                  512
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                             665                  512
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                        (691)                (340)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                             ($330)                ($44)
=============================================================== ==================== ==================== ====================





96



Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison               Consolidating        Edison
                                                                International        Adjustments          International
                                                                                                          Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility                                                                               ($5,291)          $8,120,524
Nonutility power generation                                                                                       2,967,856
Financial services and other                                              $96,301             (108,406)             347,550
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                    96,301             (113,697)          11,435,930
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel                                                                                                              1,128,382
Purchased power                                                                                                   3,770,379
Provisions for regulatory adjustment clauses - net                                                               (3,027,844)
Other operation and maintenance                                           127,737             (113,669)           3,029,066
Depreciation, decommissioning and amortization                                240                                   972,479
Property and other taxes                                                                                            113,500
Net gain on sale of utility plant                                                                2,180               (6,445)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                  127,977             (111,489)           5,979,517
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                   (31,676)              (2,253)           5,456,385
Interest and dividend income                                                9,446              (82,867)             282,178
Other nonoperating income                                                                                           108,337
Interest expense - net of amounts capitalized                            (188,146)              82,867           (1,582,072)
Other nonoperating deductions                                              (3,333)               2,247             (101,472)
Dividends on preferred securities                                                                                   (91,889)
Dividends on utility preferred stock                                                                                (22,449)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                    (213,709)                                4,049,018
Income taxes (benefit)                                                    (72,021)                                1,647,147
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                 (141,688)                                2,401,871
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                                                             (2,222,543)
Income taxes (benefit) on discontinued operations                                                                   855,618
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                        (141,688)                                1,034,946
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                     599,143           $1,004,411              599,143
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
                                                                       $1,634,213                                $1,634,213
Retained earnings - end of year
=============================================================== ==================== ==================== ====================





97



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              California           Conservation         Edison ESI
                                                              Electric Power       Financing
                                                              Company              Corporation
                                                              (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                                               $1,807
Receivables - net                                                                                                   7,196
Accrued unbilled revenue
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net                                                                                52
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets                                                                                4,823
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                                                               13,878
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                                              15
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                                                                      15
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                                      $151,000                    2
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                       151,000                    2
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                                $151,000              $13,895
============================================================= ==================== ==================== ====================






98



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Material      Mono Power Company   SCE Capital Company
                                                              Supply LLC           (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                            $807
Receivables - net                                                       $28,549                                       $10
Accrued unbilled revenue
Fuel inventory
Materials and supplies, at average cost                                  67,685
Accumulated deferred income taxes - net
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets                                         10
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     96,244                  807                   10
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                            $96,244                 $807                  $10
============================================================= ==================== ==================== ====================






99



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              SCE Funding LLC      SCE Trust I          SCE Trust II
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                     $1,443
Receivables - net                                                            20
Accrued unbilled revenue
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets                                     34,812
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     36,275
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                1,528,238
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                1,528,238
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                         $1,564,513
============================================================= ==================== ==================== ====================






100



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              SCE UK Services      Southern States      Southern
                                                              Limited              Realty               California Edison
                                                                                                        Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                              $5           $3,410,311
Receivables - net                                                           $38                   20            1,160,343
Accrued unbilled revenue                                                                                          450,649
Fuel inventory                                                                                                     13,823
Materials and supplies, at average cost                                                                            92,650
Accumulated deferred income taxes - net                                                                           445,175
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets                                                                              105,088
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                         38                   25            5,778,793
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                         69              158,908
Nuclear decommissioning trusts                                                                                  2,275,403
Investments in partnerships
  and unconsolidated subsidiaries                                                                                 197,723
Investments in leveraged leases
Other investments                                                                                                 222,099
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                                                 69            2,854,133
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution                                                                                13,567,641
  Generation                                                                                                    1,729,431
Accumulated provision for depreciation
  and decommissioning                                                                                          (7,969,358)
Construction work in progress                                                                                     556,598
Nuclear fuel, at amortized cost                                                                                   128,949
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant                                                                                             8,013,260
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net                                                                                         5,528,224
Other deferred charges                                                                                            377,312
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                                          5,905,536
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                $38                  $94          $22,551,722
============================================================= ==================== ==================== ====================






101



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        Southern
                                                              Adjustments          California Edison
                                                                                   Company
                                                                                   Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                      $3,414,373
Receivables - net                                                     ($103,775)           1,092,401
Accrued unbilled revenue                                                                     450,649
Fuel inventory                                                                                13,823
Materials and supplies, at average cost                                 (14,319)             146,016
Accumulated deferred income taxes - net                                                      445,227
Regulatory assets - net                                                 (17,659)              83,095
Trading and price risk management assets
Prepayments and other current assets                                                         144,733
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                   (135,753)           5,790,317
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                    158,992
Nuclear decommissioning trusts                                                             2,275,403
Investments in partnerships
  and unconsolidated subsidiaries                                      (195,904)
Investments in leveraged leases
Other investments                                                                            223,918
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                      (195,904)           2,658,313
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution                                                           13,567,641
  Generation                                                                               1,729,431
Accumulated provision for depreciation
  and decommissioning                                                                     (7,969,358)
Construction work in progress                                                                556,598
Nuclear fuel, at amortized cost                                                              128,949
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant                                                                        8,013,260
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net                                                                    5,528,224
Other deferred charges                                               (1,581,996)             474,556
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                              ($1,581,996)           6,002,780
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                             $22,464,670
============================================================= ==================== ==================== ====================






102



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              California           Conservation         Edison ESI
                                                              Electric Power       Financing
                                                              Company (Inactive)   Corporation
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                                              $2,207               $2,835
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                                      2,207                2,835
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                                      (48,486)               1,254
Accumulated deferred investment tax credits
Customer advances and other deferred credits                                                 112,396                1,760
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                                  63,910                3,014
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest                                                                                381
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                                      20
Additional paid-in capital                                                                    62,983                  100
Accumulated other comprehensive income (loss)
Retained earnings                                                                             21,499                7,946
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                                             84,502                8,046
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                                  $151,000              $13,895
============================================================= ==================== ==================== ====================






103



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Material      Mono Power Company   SCE Capital Company
                                                              Supply LLC           (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        $19,026                 $228               $2,095
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                27,093
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                46,119                  228                2,095
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                  5                                        20
Additional paid-in capital                                               49,995                2,749                  100
Accumulated other comprehensive income (loss)
Retained earnings                                                           125               (2,170)              (2,205)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        50,125                  579               (2,085)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                              $96,244                 $807                  $10
============================================================= ==================== ==================== ====================






104



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              SCE Funding LLC      SCE Trust I          SCE Trust II
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year                       $246,300
Preferred stock to be redeemed within one year
Accounts payable                                                         31,202
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                 1,304
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               278,806
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                        1,231,090
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital                                               65,292
Accumulated other comprehensive income (loss)
Retained earnings                                                       (10,675)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        54,617
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                           $1,564,513
============================================================= ==================== ==================== ====================






105



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              SCE UK Services      Southern States      Southern
                                                              Limited              Realty               California Edison
                                                                                                        Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                                                                $2,126,840
Long-term debt classified as due within one year                                                                2,750,000
Preferred stock to be redeemed within one year                                                                    105,000
Accounts payable                                                                                                3,301,901
Accrued taxes                                                                                                     834,835
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                   $14                                 1,647,883
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                    14                                10,766,459
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                                                                  3,185,999
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                                          ($2)           3,412,460
Accumulated deferred investment tax credits                                                                       153,460
Customer advances and other deferred credits                                                       1              678,100
Power-purchase contracts                                                                                          355,879
Accumulated provision for pension and benefits                                                                    419,901
Other long-term liabilities                                                                                       153,603
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                                      (1)           5,173,403
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption                                                                             128,755
  Subject to mandatory redemption                                                                                 150,700
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries                                                                        279,455
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                                                    2,168,054
Additional paid-in capital                                                                                        336,505
Accumulated other comprehensive income (loss)                                (1)                                  (22,193)
Retained earnings                                                            25                   95              664,040
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                            24                   95            3,146,406
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                  $38                  $94          $22,551,722
============================================================= ==================== ==================== ====================






106



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        Southern
                                                              Adjustments          California Edison
                                                                                   Company
                                                                                   Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                                           $2,126,840
Long-term debt classified as due within one year                                           2,996,300
Preferred stock to be redeemed within one year                                               105,000
Accounts payable                                                       ($98,680)           3,260,814
Accrued taxes                                                                                834,835
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                               (30,973)           1,645,321
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                              (129,653)          10,969,110
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                       (1,528,612)           2,888,477
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                                    3,365,226
Accumulated deferred investment tax credits                                                  153,460
Customer advances and other deferred credits                            (53,384)             738,873
Power-purchase contracts                                                                     355,879
Accumulated provision for pension and benefits                                               419,901
Other long-term liabilities                                              (6,100)             147,503
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                            (59,484)           5,180,842
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations                                                           381
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption                                                        128,755
  Subject to mandatory redemption                                                            150,700
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries                                                   279,455
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                (45)           2,168,054
Additional paid-in capital                                             (181,219)             336,505
Accumulated other comprehensive income (loss)                                                (22,194)
Retained earnings                                                       (14,640)             664,040
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                      (195,904)           3,146,405
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                          ($1,913,653)         $22,464,670
============================================================= ==================== ==================== ====================






107



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                California           Conservation         Edison ESI
                                                                Electric Power       Financing
                                                                Company (Inactive)   Corporation
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility                                                                                                    $27,004
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                                              27,004
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net                                                                    2,040
Other operation and maintenance                                                                    $65               22,458
Depreciation, decommissioning and amortization                                                                           36
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                                            65               24,534
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                                            (65)               2,470
Interest and dividend income                                                                     7,832                  299
Other nonoperating income
Interest expense - net of amounts capitalized                                                      (22)
Other nonoperating deductions                                                                      (22)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                                            7,723                2,769
Income taxes (benefit)                                                                           3,135                1,110
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                                         4,588                1,659
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                                                4,588                1,659
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                                           16,911                6,287
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                                                $21,499               $7,946
=============================================================== ==================== ==================== ====================





108



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison Material      Mono Power Company   SCE Capital Company
                                                                Supply LLC           (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility                                                         $316,671                   $1
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                   316,671                    1
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                           317,371                    3                   $4
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                  317,371                    3                    4
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                      (700)                  (2)                  (4)
Interest and dividend income                                                1,291
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                         591                   (2)                  (4)
Income taxes (benefit)                                                          1                                        (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                      590                   (2)                   2
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                             590                   (2)                   2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                        (465)              (2,168)              (2,207)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                              $125              ($2,170)             ($2,205)
=============================================================== ==================== ==================== ====================





109



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                SCE Funding LLC      SCE Trust I          SCE Trust II
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility                                                         $105,372
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                   105,372
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                             4,197
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                    4,197
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                   101,175
Interest and dividend income                                                3,442
Other nonoperating income
Interest expense - net of amounts capitalized                            (105,604)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                        (987)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                     (987)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                            (987)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                      (9,688)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                          ($10,675)
=============================================================== ==================== ==================== ====================





110



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                SCE UK Services      Southern States      ENvestSCE
                                                                Limited              Realty
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation                                                  $130                   $4
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                       130                    4
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net                                                                  ($2,666)
Other operation and maintenance                                               123                    1                  106
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                      123                    1               (2,560)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                         7                    3                2,560
Interest and dividend income                                                                                            162
Other nonoperating income
Interest expense - net of amounts capitalized                                                                          (162)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                           7                    3                2,560
Income taxes (benefit)                                                                                                1,046
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                        7                    3                1,514
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                               7                    3               $1,514
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                          18                   92
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                               $25                  $95
=============================================================== ==================== ==================== ====================





111



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison Pipeline      Edison Carrier       Southern
                                                                and Terminal         Solutions            California Edison
                                                                Company                                   Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility                                                          $33,965              $24,535           $8,038,461
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                    33,965               24,535            8,038,461
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel                                                                        1,032                                   210,502
Purchased power                                                                                                   3,770,379
Provisions for regulatory adjustment clauses - net                          3,699                                (3,030,917)
Other operation and maintenance                                             9,261               19,076            1,717,534
Depreciation, decommissioning and amortization                              3,025                                   677,139
Property and other taxes                                                      140                    1              111,599
Net gain on sale of utility plant                                                                                    (8,625)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                   17,157               19,077            3,447,611
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                    16,808                5,458            4,590,850
Interest and dividend income                                                  213                                   203,141
Other nonoperating income                                                                                            56,897
Interest expense - net of amounts capitalized                                                                      (785,748)
Other nonoperating deductions                                                                                       (38,470)
Dividends on preferred securities
Dividends on utility preferred stock                                                                                (22,449)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                      17,021                5,458            4,004,221
Income taxes (benefit)                                                      4,771                 (422)           1,648,398
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                   12,250                5,880            2,355,823
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                         $12,250               $5,880            2,355,823
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                                                            (1,721,599)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                                                                    $634,224
=============================================================== ==================== ==================== ====================





112



Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Consolidating        Southern
                                                                Adjustments          California Edison
                                                                                     Company
                                                                                     Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility                                                        ($420,328)          $8,125,815
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                  (420,328)           8,125,815
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel                                                                                           211,534
Purchased power                                                                              3,770,379
Provisions for regulatory adjustment clauses - net                                          (3,027,844)
Other operation and maintenance                                          (319,144)           1,771,055
Depreciation, decommissioning and amortization                                                 680,200
Property and other taxes                                                                       111,740
Net gain on sale of utility plant                                                               (8,625)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                 (319,144)           3,508,439
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                  (101,184)           4,617,376
Interest and dividend income                                               (1,313)             215,067
Other nonoperating income                                                                       56,897
Interest expense - net of amounts capitalized                             106,678             (784,858)
Other nonoperating deductions                                                                  (38,492)
Dividends on preferred securities
Dividends on utility preferred stock                                                           (22,449)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                       4,181            4,043,541
Income taxes (benefit)                                                                       1,658,033
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                                     2,385,508
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                           4,181            2,385,508
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                      (8,780)          (1,721,599)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                           $15,176             $664,040
=============================================================== ==================== ==================== ====================





113



Southern California Edison Company and Subsidiaries
Equity Investments
December 31, 2001
(In thousands)




                                         Bear Creek Uranium
Name of Entity:                          Company (inactive)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets

  Revenues

  Net Income (Loss)


Nature/Purpose of Business:              To develop and operate an
                                         integrated uranium mining
                                         complex in Wyoming.


Ownership Interest(s):                   50% by Mono Power Company










114



Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Ventures      Edison TransEnergy   Consolidating
                                                                                                        Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                            $7
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net                                       3
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                         10
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments                                                         2,406
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                         2,406
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                             $2,416
============================================================= ==================== ==================== ====================






115



Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Ventures
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                            $7
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net                                       3
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                         10
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments                                                         2,406
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                         2,406
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                             $2,416
============================================================= ==================== ==================== ====================






116



Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Ventures      Edison TransEnergy   Consolidating
                                                                                                        Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                            $25
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                    25
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital                                                2,406
Accumulated other comprehensive income (loss)
Retained earnings                                                           (15)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                         2,391
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                               $2,416
============================================================= ==================== ==================== ====================






117



Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Ventures
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                            $25
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                    25
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital                                                2,406
Accumulated other comprehensive income (loss)
Retained earnings                                                           (15)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                         2,391
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                               $2,416
============================================================= ==================== ==================== ====================






118



Edison Ventures and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison Ventures      Edison TransEnergy   Consolidating
                                                                                                          Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $4
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        4
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (4)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                          (4)
Income taxes (benefit)                                                         (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       (3)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                         (12)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                              ($15)
=============================================================== ==================== ==================== ====================





119



Edison Ventures and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison Ventures
                                                                Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $4
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        4
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (4)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                          (4)
Income taxes (benefit)                                                         (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       (3)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                         (12)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                              ($15)
=============================================================== ==================== ==================== ====================





120




The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              The Mission Group    Edison Capital       Edison Enterprises
                                                                                   Consolidated         Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                       $426             $147,453                 $170
Receivables - net                                                        10,237              753,444                2,533
Fuel inventory
Materials and supplies, at average cost                                                                               153
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets                                         48                2,886                  201
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     10,711              903,783                3,057
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                      4,142                  674
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                        10,000              407,487                5,349
Investments in leveraged leases                                                            2,385,699
Other investments                                                     3,152,488
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                     3,162,488            2,797,328                6,023
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                                         872                  435
Regulatory assets - net
Other deferred charges                                                  820,716               34,103                  947
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                  820,716               34,975                1,382
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations                                                                                  96,961
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                         $3,993,915           $3,736,086             $107,423
============================================================= ==================== ==================== ====================






121



The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison               Edison OandM         Edison Technology
                                                              Environmental        Services             Solutions
                                                              Services                                  Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                          $2,579               $5,857
Receivables - net                                                                             46,808                1,242
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets                                                           1,330
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                                          50,717                7,099
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                      6,848
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                                              6,848
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                                         1,997                1,069
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                         1,997                1,069
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                                 $59,562               $8,168
============================================================= ==================== ==================== ====================






122



The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Energy       Mission Land         Mission Power
                                                              Holding Company      Company              Engineering
                                                              Consolidated         Consolidated         Company
                                                                                                        Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                   $373,081               $3,754
Receivables - net                                                       578,786               15,038
Fuel inventory                                                          110,124
Materials and supplies, at average cost                                  57,282
Accumulated deferred income taxes - net
Trading and price risk management assets                                 64,729
Prepayments and other current assets                                     80,542                   (2)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                  1,264,544               18,790
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                             6,237,563                3,742
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                     1,829,940
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                     8,067,503                3,742
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                631,735
Regulatory assets - net
Other deferred charges                                                  935,276                3,798                   $5
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                1,567,011                3,798                    5
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations                                       153,610
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                        $11,052,668              $26,330                   $5
============================================================= ==================== ==================== ====================






123



The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        The Mission Group
                                                              Adjustments          Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                        $533,320
Receivables - net                                                      ($10,393)           1,397,695
Fuel inventory                                                                               110,124
Materials and supplies, at average cost                                                       57,435
Accumulated deferred income taxes - net
Trading and price risk management assets                                                      64,729
Prepayments and other current assets                                                          85,005
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                    (10,393)           2,248,308
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                  6,252,969
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                                          2,252,776
Investments in leveraged leases                                                            2,385,699
Other investments                                                    (3,152,488)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                    (3,152,488)          10,891,444
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                                     633,042
Regulatory assets - net
Other deferred charges                                                  (15,080)           1,782,831
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                  (15,080)           2,415,873
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations                                                            250,571
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                        ($3,177,961)         $15,806,196
============================================================= ==================== ==================== ====================






124



The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              The Mission Group    Edison Capital       Edison Enterprises
                                                                                   Consolidated         Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                                             $150,000
Long-term debt classified as due within one year                                             162,312
Preferred stock to be redeemed within one year
Accounts payable                                                            $54               11,985                 $359
Accrued taxes                                                                                                          15
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                   206               57,659                  222
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                   260              381,956                  596
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                                               434,543
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                   1,317            2,084,053
Accumulated deferred investment tax credits
Customer advances and other deferred credits                                924               68,689
Power-purchase contracts
Accumulated provision for pension and benefits                                                14,254
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                              2,241            2,166,996
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations                                                                             15,213
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                            147,866
Additional paid-in capital                                            3,300,435               81,164              392,601
Accumulated other comprehensive income (loss)                                                 (3,892)                  17
Retained earnings                                                       543,113              675,319             (301,004)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                     3,991,414              752,591               91,614
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                           $3,993,915           $3,736,086             $107,423
============================================================= ==================== ==================== ====================





125



The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison               Edison OandM         Edison Technology
                                                              Environmental        Services             Solutions
                                                              Services                                  Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                                              $3,160               $1,721
Accrued taxes                                                                                    121
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                                      5,836                  179
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                                      9,117                1,900
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                                                             1,266
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                                                        1,266
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital                                                                    49,874                9,946
Accumulated other comprehensive income (loss)
Retained earnings                                                                                571               (4,944)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                                             50,445                5,002
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                                   $59,562               $8,168
============================================================= ==================== ==================== ====================






126



The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Energy       Mission Land         Mission Power
                                                              Holding Company      Company              Engineering
                                                              Consolidated         Consolidated         Company
                                                                                                        Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                        $168,241
Long-term debt classified as due within one year                        190,295
Preferred stock to be redeemed within one year
Accounts payable                                                        176,121               $1,529
Accrued taxes                                                            17,603                 (152)
Regulatory liabilities - net
Trading and price risk management liabilities                            23,681
Other current liabilities                                               400,485                  917                 $150
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               976,426                2,294                  150
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                        6,864,841
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                 917,730
Accumulated deferred investment tax credits                              18,866
Customer advances and other deferred credits                            864,733                1,071
Power-purchase contracts
Accumulated provision for pension and benefits                           39,331                3,526
Other long-term liabilities                                                                                         8,709
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                          1,840,660                4,597                8,709
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations                                   55,845
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest                                                       344,092
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption                                       103,950
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures                                      150,000
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries                              253,950
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             64,130                                     3,000
Additional paid-in capital                                            2,184,495               20,493
Accumulated other comprehensive income (loss)                          (302,627)
Retained earnings                                                    (1,229,144)              (1,054)             (11,854)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                       716,854               19,439               (8,854)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                          $11,052,668              $26,330                   $5
============================================================= ==================== ==================== ====================






127



The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        The Mission Group
                                                              Adjustments          Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                                             $318,241
Long-term debt classified as due within one year                                             352,607
Preferred stock to be redeemed within one year
Accounts payable                                                       ($10,394)             184,535
Accrued taxes                                                                                 17,587
Regulatory liabilities - net
Trading and price risk management liabilities                                                 23,681
Other current liabilities                                                                    465,654
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               (10,394)           1,362,305
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                                             7,299,384
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                  (6,370)           2,997,996
Accumulated deferred investment tax credits                                                   18,866
Customer advances and other deferred credits                                                 935,417
Power-purchase contracts
Accumulated provision for pension and benefits                                                57,111
Other long-term liabilities                                              (8,709)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                            (15,079)           4,009,390
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations                                                        71,058
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest                                                                            344,092
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures                                                           150,000
Other preferred securities                                                                   103,950
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries                                                   253,950
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                            (67,130)             147,866
Additional paid-in capital                                           (2,738,573)           3,300,435
Accumulated other comprehensive income (loss)                                               (306,502)
Retained earnings                                                      (346,785)            (675,782)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                    (3,152,488)           2,466,017
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                          ($3,177,961)         $15,806,196
============================================================= ==================== ==================== ====================






128



The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                The Mission Group    Edison Capital       Edison Enterprises
                                                                                     Consolidated         Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                                  $201,649               $5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                        201,649                5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                              $534               48,836                4,905
Depreciation, decommissioning and amortization                                                  16,930                  655
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                      534               65,766                5,560
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                      (534)             135,883                 (519)
Interest and dividend income                                                   16               19,152
Other nonoperating income                                                                      (30,604)
Interest expense - net of amounts capitalized                                                  (64,172)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                        (518)              60,259                 (519)
Income taxes (benefit)                                                       (392)             (23,754)                (202)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                     (126)              84,013                 (317)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                                                               (210,315)
Income taxes (benefit) on discontinued operations                                                                   (77,660)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                            (126)              84,013             (132,972)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                     475,868              591,306             (168,032)
Dividends declared on common stock                                         67,371
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                          $543,113             $675,319            ($301,004)
=============================================================== ==================== ==================== ====================





129



The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison               Edison OandM         Edison Technology
                                                                Environmental        Services             Solutions
                                                                Services                                  Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                                   $68,343
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                         68,343
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                                 65,723                  $21
Depreciation, decommissioning and amortization                                                   1,407
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                                        67,130                   21
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                                          1,213                  (21)
Interest and dividend income                                                                     1,319                   24
Other nonoperating income                                                                       (1,525)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                                            1,007                    3
Income taxes (benefit)                                                                             436                   95
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                                           571                  (92)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                                                  571                  (92)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                                                                (4,852)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                                                   $571              ($4,944)
=============================================================== ==================== ==================== ====================





130



The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Mission Energy       Mission Land         Mission Power
                                                                Holding Company      Company              Engineering
                                                                Consolidated         Consolidated         Company
                                                                                                          Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation                                            $2,967,188
Financial services and other                                                                   $73,707
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                 2,967,188               73,707
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel                                                                      916,848
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                         1,050,695               73,136
Depreciation, decommissioning and amortization                            272,938                  109
Property and other taxes                                                      512                1,238
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                2,240,993               74,483
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                   726,195                 (776)
Interest and dividend income                                               47,757                  909
Other nonoperating income                                                  43,832                    1
Interest expense - net of amounts capitalized                            (629,695)
Other nonoperating deductions                                             (22,157)
Dividends on preferred securities                                         (22,271)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                     143,661                  134
Income taxes (benefit)                                                     79,043                  891                   $6
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                   64,618                 (757)                  (6)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                   (2,012,228)
Income taxes (benefit) on discontinued operations                        (777,958)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                      (1,169,652)                (757)                  (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                     401,396                 (292)             (11,848)
Dividends declared on common stock                                       (460,888)                  (5)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                       ($1,229,144)             ($1,054)            ($11,854)
=============================================================== ==================== ==================== ====================





131



The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Consolidating        The Mission Group
                                                                Adjustments          Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation                                                  $668           $2,967,856
Financial services and other                                               (1,209)             347,531
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                      (541)           3,315,387
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel                                                                                           916,848
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                              1,243,850
Depreciation, decommissioning and amortization                                                 292,039
Property and other taxes                                                                         1,750
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                                     2,454,487
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                      (541)             860,900
Interest and dividend income                                                 (723)              68,454
Other nonoperating income                                                                       11,704
Interest expense - net of amounts capitalized                               1,932             (691,935)
Other nonoperating deductions                                                                  (22,157)
Dividends on preferred securities                                                              (22,271)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                         668              204,695
Income taxes (benefit)                                                                          56,123
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                      668              148,572
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                                        (2,222,543)
Income taxes (benefit) on discontinued operations                                             (855,618)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                             668           (1,218,353)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                    (575,970)             707,576
Dividends declared on common stock                                        228,517             (165,005)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                         ($346,785)           ($675,782)
=============================================================== ==================== ==================== ====================





132



Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)



                                                                                                        Sold 8/1/01
                                                              Edison Enterprises   Edison Source        Edison Select
                                                                                   Consolidated         Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                            $170
Receivables - net                                                                              2,533
Fuel inventory
Materials and supplies, at average cost                                                          153
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets                                                             201
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                                           3,057
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                        674
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                        $5,349
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                         5,349                  674
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                                         435
Regulatory assets - net
Other deferred charges                                                                           504
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                           939
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations                                        53,729
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                            $59,078               $4,670
============================================================= ==================== ==================== ====================






133



Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)



                                                               Sold Jan 2001
                                                              Edison Utility       Consolidating        Edison Enterprises
                                                              Services             Adjustments          Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                                                 $170
Receivables - net                                                                                                   2,533
Fuel inventory
Materials and supplies, at average cost                                                                               153
Accumulated deferred income taxes - net
Trading and risk management assets
Prepayments and other current assets                                                                                  201
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                                                                3,057
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                                             674
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                                                                   5,349
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                                                                   6,023
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                                                              435
Regulatory assets - net
Other deferred charges                                                                          $443                  947
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                           443                1,382
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations                                                             43,232               96,961
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                                 $43,675             $107,423
============================================================= ==================== ==================== ====================






134



Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)



                                                                                                         Sold 8/1/01
                                                              Edison Enterprises   Edison Source        Edison Select
                                                                                   Consolidated         Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                            $87                 $272
Accrued taxes                                                                                     15
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                                        222
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                    87                  509
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities                                             (30,597)             (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                            (30,597)             (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital                                              390,502              105,642
Accumulated other comprehensive income (loss)                                                     17
Retained earnings                                                      (300,916)             (86,398)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        89,586               19,261
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                              $59,076               $4,670
============================================================= ==================== ==================== ====================






135



Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)



                                                               Sold Jan 2001
                                                              Edison Utility       Consolidating        Edison Enterprises
                                                              Services             Adjustments          Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                                                                     $359
Accrued taxes                                                                                                          15
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                                                             222
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                                                             596
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities                                                                  $60,910               15,213
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                                  60,910               15,213
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital                                                                  (103,543)             392,601
Accumulated other comprehensive income (loss)                                                                          17
Retained earnings                                                                             86,310             (301,004)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                                            (17,233)              91,614
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                                   $43,677             $107,423
============================================================= ==================== ==================== ====================






136



Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)



                                                                                                          Sold 8/1/01
                                                                Edison Enterprises  Edison Source         Edison Select
                                                                                    Consolidated          Consolidated
--------------------------------------------------------------- ------------------- --------------------- --------------------
--------------------------------------------------------------- ------------------- --------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                ($317)             $5,041
--------------------------------------------------------------- ------------------- --------------------- --------------------
Total operating revenue                                                      (317)              5,041
--------------------------------------------------------------- ------------------- --------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                                 4,905
Depreciation, decommissioning and amortization                                                    655
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- ------------------- --------------------- --------------------
Total operating expenses                                                                        5,560
--------------------------------------------------------------- ------------------- --------------------- --------------------

Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- ------------------- --------------------- --------------------

Income (loss) from continuing operations before taxes                        (317)               (519)
Income taxes (benefit)                                                                           (202)
--------------------------------------------------------------- ------------------- --------------------- --------------------

Income (loss) from continuing operations                                     (317)               (317)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                     (210,315)            (32,796)              ($7,290)
Income taxes (benefit) on discontinued operations                         (77,660)
--------------------------------------------------------------- ------------------- --------------------- --------------------
Net income (loss)                                                        (132,972)            (33,113)              ($7,290)
--------------------------------------------------------------- ------------------- --------------------- --------------------
Retained earnings - beginning of year                                    (167,944)            (53,285)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- ------------------- --------------------- --------------------

Retained earnings - end of year                                         ($300,916)           ($86,398)
=============================================================== =================== ===================== ====================





137



Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)



                                                                   Sold Jan 2001
                                                                Edison Utility       Consolidating        Edison Enterprises
                                                                Services             Adjustments          Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                                      $317               $5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                            317                5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                                                       4,905
Depreciation, decommissioning and amortization                                                                          655
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                                                              5,560
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                                              317                 (519)
Income taxes (benefit)                                                                                                 (202)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                                           317                 (317)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                         ($10)              40,096             (210,315)
Income taxes (benefit) on discontinued operations                                                                   (77,660)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                            ($10)              40,413             (132,972)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                                           53,197             (168,032)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                                                $93,610            ($301,004)
=============================================================== ==================== ==================== ====================







138



Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)


                                                                                                   (Liquidation
dividend
                                                                                                   Inactive    as   of
10/18/01)
                                                              Edison Source        Edison Source        G.H.V.
                                                                                   Norvik Company       Refrigeration, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                       $143                  $27
Receivables - net                                                         3,429                  155
Fuel inventory
Materials and supplies, at average cost                                      60                   93
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets                                          6                  195
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                      3,638                  470
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                   613                   61
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                            10
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                           623                   61
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                    435
Regulatory assets - net
Other deferred charges                                                       68                  436
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                      503                  436
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                             $4,764                 $967
============================================================= ==================== ==================== ====================






139



Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        Edison Source
                                                              Adjustments          Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                            $170
Receivables - net                                                       ($1,051)               2,533
Fuel inventory
Materials and supplies, at average cost                                                          153
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets                                                             201
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     (1,051)               3,057
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                        674
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                           (10)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                           (10)                 674
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                                         435
Regulatory assets - net
Other deferred charges                                                                           504
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                           939
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                            ($1,051)              $4,670
============================================================= ==================== ==================== ====================






140



Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)


                                                                                                       (Liquidation dividend
                                                                                                        Inactive as of 10/18/01)
                                                              Edison Source        Edison Source        G.H.V.
                                                                                   Norvik Company       Refrigeration, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                           $217               $1,116                 ($10)
Accrued taxes                                                                15
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                   144                   78
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                   376                1,194                  (10)
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities                                             (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                            (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                                                           10
Additional paid-in capital                                              105,642
Accumulated other comprehensive income (loss)                                                     17
Retained earnings                                                       (86,154)                (244)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        19,488                 (227)                 $10
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                               $4,764                 $967
============================================================= ==================== ==================== ====================






141



Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        Edison Source
                                                              Adjustments          Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        ($1,051)                $272
Accrued taxes                                                                                     15
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                                        222
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                (1,051)                 509
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities                                                                  (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                                 (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                (10)
Additional paid-in capital                                                                   105,642
Accumulated other comprehensive income (loss)                                                     17
Retained earnings                                                                            (86,398)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                           (10)              19,261
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                              ($1,061)              $4,670
============================================================= ==================== ==================== ====================






142



Edison Source and Subsidiaries [Tier 4]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)


                                                                                                         (Liquidation dividend
                                                                                                          Inactive as of 10/18/01)
                                                                Edison Source        Edison Source        G.H.V.
                                                                                     Norvik Company       Refrigeration, Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                               $5,041               $2,451
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                     5,041                2,451
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                             4,725                2,631
Depreciation, decommissioning and amortization                                580                   75
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                    5,305                2,706
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                      (264)                (255)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                        (264)                (255)
Income taxes (benefit)                                                        103                   99
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                     (161)                (156)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                      (30,370)                                  ($2,426)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                         (30,531)                (156)              (2,426)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                      12,024                                   (65,309)
Dividends declared on common stock                                        (67,647)                 (88)             $67,735
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                          ($86,154)               ($244)
=============================================================== ==================== ==================== ====================





143



Edison Source and Subsidiaries [Tier 4]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Consolidating        Edison Source
                                                                Adjustments          Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                              ($2,451)              $5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                    (2,451)               5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                            (2,451)               4,905
Depreciation, decommissioning and amortization                                                     655
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                  ($2,451)               5,560
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                                             (519)
Income taxes (benefit)                                                                            (202)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                                          (317)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                                           (32,796)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                                              (33,113)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                                          (53,285)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                                               ($86,398)
=============================================================== ==================== ==================== ====================





144



Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Select        Edison Home          Select Home
                                                                                   Protection Company   Warranty Company
                                                                                   (Inactive)           (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets
============================================================= ==================== ==================== ====================






145



Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Security      Valley Burglar and   Consolidating
                                                              Corp.                Fire Alarm Co.,      Adjustments
                                                                                   Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets
============================================================= ==================== ==================== ====================






146



Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)



                                                                 Sold 8/1/01
                                                              Edison Select
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets
============================================================= ==================== ==================== ====================






147



Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Select        Edison Home          Select Home
                                                                                   Protection Company   Warranty Company
                                                                                   (Inactive)           (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================






148



Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Security      Valley Burglar and   Consolidating
                                                              Corp.                Fire Alarm Co.,      Adjustments
                                                                                   Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================






149



Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)



                                                                 Sold 8/1/01
                                                              Edison Select
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================






150



Edison Select and Subsidiaries [Tier 4]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison Select        Edison Home          Select Home
                                                                                     Protection Company   Warranty Company
                                                                                     (Inactive)           (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                     ($18,597)                                   $2,191
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                        ($18,597)                                   $2,191
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year
=============================================================== ==================== ==================== ====================





151



Edison Select and Subsidiaries [Tier 4]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison Security      Valley Burglar and   Consolidating
                                                                Corp.                Fire Alarm Co.,      Adjustments
                                                                                     Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                       $9,130                 ($14)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                          $9,130                 ($14)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year
=============================================================== ==================== ==================== ====================






152



Edison Select and Subsidiaries [Tier 4]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison Select
                                                                Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                      ($7,290)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                         ($7,290)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year
=============================================================== ==================== ==================== ====================





153



Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Technology    Edison EV            Consolidating
                                                              Solutions                                 Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets
============================================================= ==================== ==================== ====================






154



Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Technology
                                                              Solutions
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                     $5,857
Receivables - net                                                         1,242
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                      7,099
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                    1,069
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                    1,069
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                             $8,168
============================================================= ==================== ==================== ====================






155



Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Technology    Edison EV            Consolidating
                                                              Solutions                                 Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================






156



Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Technology
                                                              Solutions
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                         $1,721
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                   179
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                 1,900
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                   1,266
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                              1,266
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital                                                9,946
Accumulated other comprehensive income (loss)
Retained earnings                                                        (4,944)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                         5,002
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                               $8,168
============================================================= ==================== ==================== ====================






157



Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison Technology    Edison EV            Consolidating
                                                                Solutions                                 Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year
=============================================================== ==================== ==================== ====================





158



Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison Technology
                                                                Solutions
                                                                Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                               $21
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                       21
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                       (21)
Interest and dividend income                                                   24
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                           3
Income taxes (benefit)                                                         95
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                      (92)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                             (92)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                      (4,852)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                           ($4,944)
=============================================================== ==================== ==================== ====================





159



Edison Technology Solutions and Subsidiaries
Equity Investments
December 31, 2001
(In thousands)




Name of Entity:                          Facilichem, Inc.
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets

  Revenues

  Net Income (Loss)


Nature/Purpose of Business:              Research, development and
                                         commercialization of
                                         liquid membrane
                                         technologies


Ownership Interest(s):                   10% by Edison Technology
                                         Solutions with option to
                                         increase interest to
                                         16.66%










160


Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Mission       Mission Energy       Consolidating
                                                              Energy Consolidated  Holding Company      Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                   $372,139                 $942
Receivables - net                                                       549,474               29,315                  ($3)
Fuel inventory                                                          110,124
Materials and supplies, at average cost                                  57,282
Accumulated deferred income taxes - net
Trading and price risk management assets                                 64,729
Prepayments and other current assets                                     80,542
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                  1,234,290               30,257                   (3)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                             6,237,563
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                     1,829,940
Investments in leveraged leases
Other investments                                                                          2,999,352           (2,999,352)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                     8,067,503            2,999,352           (2,999,352)
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                631,735
Regulatory assets - net
Other deferred charges                                                  642,887              292,389
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                1,274,622              292,389
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations                                       153,610
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                        $10,730,025           $3,321,998          ($2,999,355)
============================================================= ==================== ==================== ====================






161



Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Energy
                                                              Holding Company
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                   $373,081
Receivables - net                                                       578,786
Fuel inventory                                                          110,124
Materials and supplies, at average cost                                  57,282
Accumulated deferred income taxes - net
Trading and price risk management assets                                 64,729
Prepayments and other current assets                                     80,542
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                  1,264,544
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                             6,237,563
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                     1,829,940
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                     8,067,503
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                631,735
Regulatory assets - net
Other deferred charges                                                  935,276
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                1,567,011
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations                                       153,610
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                        $11,052,668
============================================================= ==================== ==================== ====================






162



Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Mission       Mission Energy       Consolidating
                                                              Energy Consolidated  Holding Company      Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                        $168,241
Long-term debt classified as due within one year                        190,295
Preferred stock to be redeemed within one year
Accounts payable                                                        175,769                 $355                  ($3)
Accrued taxes                                                            17,603
Regulatory liabilities - net
Trading and price risk management liabilities                            22,381                1,300
Other current liabilities                                               335,357               65,128
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               909,646               66,783                   (3)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                        5,749,460            1,115,381
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                 917,434                  296
Accumulated deferred investment tax credits                              18,866
Customer advances and other deferred credits                            864,733
Power-purchase contracts
Accumulated provision for pension and benefits                           39,331
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                          1,840,364                  296
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations                                   55,845
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest                                                       344,092
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption                                       103,950
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures                                      150,000
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries                              253,950
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             64,130
Additional paid-in capital                                            2,631,326            2,552,521           (2,999,352)
Accumulated other comprehensive income (loss)                          (301,820)                (807)
Retained earnings                                                      (816,968)            (412,176)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                     1,576,668            2,139,538           (2,999,352)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                          $10,730,025           $3,321,998          ($2,999,355)
============================================================= ==================== ==================== ====================






163



Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Energy
                                                              Holding Company
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                        $168,241
Long-term debt classified as due within one year                        190,295
Preferred stock to be redeemed within one year
Accounts payable                                                        176,121
Accrued taxes                                                            17,603
Regulatory liabilities - net
Trading and price risk management liabilities                            23,681
Other current liabilities                                               400,485
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               976,426
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                        6,864,841
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                 917,730
Accumulated deferred investment tax credits                              18,866
Customer advances and other deferred credits                            864,733
Power-purchase contracts
Accumulated provision for pension and benefits                           39,331
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                          1,840,660
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations                                   55,845
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest                                                       344,092
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption                                       103,950
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures                                      150,000
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries                              253,950
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             64,130
Additional paid-in capital                                            2,184,495
Accumulated other comprehensive income (loss)                          (302,627)
Retained earnings                                                    (1,229,144)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                       716,854
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                          $11,052,668
============================================================= ==================== ==================== ====================






164



Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Edison Mission       Mission Energy       Consolidating
                                                                Energy Consolidated  Holding Company      Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation                                            $2,967,188
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                 2,967,188
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel                                                                      916,848
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                         1,050,593                 $102
Depreciation, decommissioning and amortization                            272,903                   35
Property and other taxes                                                      512
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                2,240,856                  137
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                   726,332                 (137)
Interest and dividend income                                               42,732                5,025
Other nonoperating income                                                  43,832
Interest expense - net of amounts capitalized                            (547,493)             (82,202)
Other nonoperating deductions                                             (22,157)
Dividends on preferred securities                                         (22,271)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                     220,975              (77,314)
Income taxes (benefit)                                                    107,569              (28,526)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                  113,406              (48,788)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                   (1,234,270)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                      (1,120,864)             (48,788)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                     401,396
Dividends declared on common stock                                        (97,500)            (363,388)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                         ($816,968)           ($412,176)
=============================================================== ==================== ==================== ====================





165



Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)




                                                                Mission Energy
                                                                Holding Company
                                                                Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility                                                       $2,967,188
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                 2,967,188
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel                                                                      916,848
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                         1,050,695
Depreciation, decommissioning and amortization                            272,938
Property and other taxes                                                      512
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                2,240,993
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                   726,195
Interest and dividend income                                               47,757
Other nonoperating income                                                  43,832
Interest expense - net of amounts capitalized                            (629,695)
Other nonoperating deductions                                             (22,157)
Dividends on preferred securities                                         (22,271)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                     143,661
Income taxes (benefit)                                                     79,043
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                   64,618
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)                   (1,234,270)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                      (1,169,652)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                     401,396
Dividends declared on common stock                                       (460,888)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                       ($1,229,144)
=============================================================== ==================== ==================== ====================




166




Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)



                                                              Burlington           Edison Capital       Edison Capital
                                                              Apartments, Inc.     Europe Limited       Ventures
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                            $172
Receivables - net                                                                                409
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net                                   ($184)                                      $79
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                       (184)                 581                   79
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                              ($184)                $581                  $79
============================================================= ==================== ==================== ====================






167



Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)



                                                              Edison Funding       Edison Mortgage      Mission Bartlett
                                                              Company              Company              Hill Company
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                   $147,275
Receivables - net                                                       997,475
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net                                                        ($166)
Trading and price risk management assets
Prepayments and other current assets                                          1
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                  1,144,751                 (166)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                 3,396
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                       407,487
Investments in leveraged leases                                       2,385,699
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                     2,796,582
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                    872
Regulatory assets - net
Other deferred charges                                                   22,538
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                   23,410
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                         $3,964,743                ($166)
============================================================= ==================== ==================== ====================






168



Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission              Renewable Energy     Edison Capital
                                                              International        Capital Company
                                                              Capital, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                                                   $6
Receivables - net                                                                                 $1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net                                                                            29,423
Trading and price risk management assets
Prepayments and other current assets                                                                                2,885
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                                               1               32,314
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                                             746
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                                                                 127,169
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                                                                 127,915
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                                                             11,565
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                                      $1             $171,794
============================================================= ==================== ==================== ====================






169



Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        Edison Capital
                                                              Adjustments          Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                        $147,453
Receivables - net                                                     ($273,593)             753,444
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets                                                           2,886
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                   (273,593)             903,783
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                      4,142
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                      (127,169)             407,487
Investments in leveraged leases                                                            2,385,699
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                      (127,169)           2,797,328
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                                         872
Regulatory assets - net
Other deferred charges                                                                        34,103
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                        34,975
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                          ($400,762)          $3,736,086
============================================================= ==================== ==================== ====================






170



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Integrated    Mission First
                                                              Housing              Energy Services      Asset Investment
                                                              Investments
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                       $215
Receivables - net                                                       259,278
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets                                          1
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                    259,494
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                 3,396
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                       408,399
Investments in leveraged leases                                              93
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                       411,888
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                    872
Regulatory assets - net
Other deferred charges                                                    7,057
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                    7,929
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                           $679,311
============================================================= ==================== ==================== ====================



171



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Funding      Mission Funding      Mission Funding
                                                              Beta                 Epsilon              Gamma
                                                                                   Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                         $64,926
Receivables - net                                                      $155,962              171,826              $71,242
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                    155,962              236,752               71,242
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                                            511,636
Investments in leveraged leases                                         598,653            1,072,464              287,677
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                       598,653            1,584,100              287,677
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                                            19
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                            19
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                           $754,615           $1,820,871             $358,919
============================================================= ==================== ==================== ====================



172



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Funding      Mission Funding      Mission Iowa Wind
                                                              Kappa                Zeta                 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                       $76,493               $5,835              $34,291
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     76,493                5,835               34,291
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                                             30,583               84,892
Investments in leveraged leases                                         426,812
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                       426,812               30,583               84,892
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                           $503,305              $36,418             $119,183
============================================================= ==================== ==================== ====================



173



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Funding       Consolidating        Edison Funding
                                                              Company              Adjustments          Company
                                                                                                        Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                    $82,134                                  $147,275
Receivables - net                                                       222,753                ($205)             997,475
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets                                                                                    1
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                    304,887                 (205)           1,144,751
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                                           3,396
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                     1,375,009           (2,003,032)             407,487
Investments in leveraged leases                                                                                 2,385,699
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                     1,375,009           (2,003,032)           2,796,582
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                                                              872
Regulatory assets - net
Other deferred charges                                                   15,462                                    22,538
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                   15,462                                    23,410
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                         $1,695,358          ($2,003,237)          $3,964,743
============================================================= ==================== ==================== ====================



174



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              East Coast           EC Asset Services,   EC Properties, Inc.
                                                              Capital, Inc.        Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                         $3                  $32
Receivables - net                                                             7                   (2)                $508
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                         11                   30                  508
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                $11                  $30                 $508
============================================================= ==================== ==================== ====================



175



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              EC Properties III,   EC-SLP, Inc.         ECHI-A Company
                                                              Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                         $3                  $24
Receivables - net                                                            66                   (5)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                         69                   19
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                $69                  $19
============================================================= ==================== ==================== ====================



176



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              ECHI-B Company       ECHI Wyvernwood,     ECHP Investment
                                                                                   Inc.                 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets
============================================================= ==================== ==================== ====================



177



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Edison Capital
                                                              Affordable Housing   Affordable Housing   Affordable Housing
                                                              97 V                 97 VI                97 VII
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets
============================================================= ==================== ==================== ====================



178



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Edison Capital
                                                              Affordable Housing   Affordable Housing   Affordable Housing
                                                              97 VIII              99A Company          99B Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets
============================================================= ==================== ==================== ====================




179



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Edison Capital
                                                              Housing Delaware     Housing Florida      Housing Management
                                                              Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                           $12                                      $685
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                         12                                       685
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                            (1)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                            (1)
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                $11                                      $685
============================================================= ==================== ==================== ====================



180



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Edison Capital
                                                              Housing New Jersey   Housing New York     Housing
                                                                                                        Pennsylvania
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                       ($1,214)                 $12              ($1,780)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     (1,214)                  12               (1,780)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                         3,709                4,570                4,036
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                         3,709                4,570                4,036
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                             $2,495               $4,582               $2,256
============================================================= ==================== ==================== ====================



181



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Housing       Edison Housing       Edison Housing
                                                              North Carolina       Oregon, Inc.         South Carolina
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                         ($355)                                      $75
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                       (355)                                       75
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                         2,138                                       788
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                         2,138                                       788
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                             $1,783                                      $863
============================================================= ==================== ==================== ====================



182



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              EHI Development      EHI Development      MHICAL 94 Company
                                                              Company              Fund
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                           ($3)               ($675)             ($4,392)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                         (3)                (675)              (4,392)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                                              4,662               (1,210)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                                              4,662               (1,210)
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                ($3)              $3,987              ($5,602)
============================================================= ==================== ==================== ====================



183



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              MHICAL 95 Company    Edison Housing       MHICAL 96 Company
                                                                                   Consolidation Co.
                                                                                   (6)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                       ($6,758)              $7,463              ($1,097)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     (6,758)               7,463               (1,097)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                        (1,685)              14,587                2,446
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                        (1,685)              14,587                2,446
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                            ($8,443)             $22,050               $1,349
============================================================= ==================== ==================== ====================



184



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              MHICAL 97 Company    MHIFED 94 Company    MHIFED 95 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                                                   $1
Receivables - net                                                        $4,012                ($384)              (2,137)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                      4,012                 (384)              (2,136)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                         1,620                    1
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                         1,620                    1
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                             $5,632                ($383)             ($2,136)
============================================================= ==================== ==================== ====================



185



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              MHIFED 96 Company    MHIFED 96A Company   MHIFED 97 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                         ($326)               ($436)                 ($2)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                       (326)                (436)                  (2)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                              ($326)               ($436)                 ($2)
============================================================= ==================== ==================== ====================



186



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Housing      Mission Housing      Mission Housing
                                                              Alpha                Beta                 Delta
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                          ($16)               ($674)              $2,499
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                        (16)                (674)               2,499
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                           303                  148               (1,668)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                           303                  148               (1,668)
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                               $287                ($526)                $831
============================================================= ==================== ==================== ====================



187



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Housing      Mission Housing      Mission Housing
                                                              Denver               Epsilon              Gamma
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                         ($490)                ($86)               ($497)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                       (490)                 (86)                (497)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                           484                  142                  335
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                           484                  142                  335
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                ($6)                 $56                ($162)
============================================================= ==================== ==================== ====================



188



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Housing      Mission Housing      Mission Funding
                                                              Holdings             Theta                Theta [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                       ($2,928)                $916                  ($2)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     (2,928)                 916                   (2)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                         2,952                  198                   (7)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                         2,952                  198                   (7)
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                                            21
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                            21
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                $24               $1,135                  ($9)
============================================================= ==================== ==================== ====================



189



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Housing      Mission SA Company
                                                              Zeta
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                       ($1,735)                ($36)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     (1,735)                 (36)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                         4,045
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                         4,045
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                             $2,310                 ($36)
============================================================= ==================== ==================== ====================



190



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Funding       Edison Funding
                                                              Omicron Inc.         Olive Court [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                             $76
Receivables - net                                                      $172,818                   63
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets                                                               1
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                    172,818                  140
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                      3,396
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                        87,495
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                        87,495                3,396
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                                           739
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                           739
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                           $260,313               $4,275
============================================================= ==================== ==================== ====================



191



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Consolidating        Edison Capital
                                                              Housing Investments  Adjustments          Housing
                                                                                                        Investments
                                                                                                        Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                        $75                                      $215
Receivables - net                                                        96,172                                   259,278
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets                                                                                    1
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     96,247                                   259,494
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net                                                                                           3,396
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                       278,311                                   408,399
Investments in leveraged leases                                              93                                        93
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                       278,404                                   411,888
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill                                                                    872                                       872
Regulatory assets - net
Other deferred charges                                                    6,297                                     7,057
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                    7,169                                     7,929
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                           $381,820                                  $679,311
============================================================= ==================== ==================== ====================



192



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital LAI   Edison Capital
                                                              (Bermuda)            (Bermuda) Ltd. [6]   Latin American
                                                              Investments, Ltd.                         Investments
                                                              55                                        (Bermuda), Ltd. [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                    $63,913
Receivables - net                                                         6,419
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                     70,332
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                         8,762
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                         8,762
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                            $79,094
============================================================= ==================== ==================== ====================



193



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Edison Capital
                                                              International        International        Latin American
                                                              (Bermuda) Ltd.       Transmission         Investments
                                                                                   (Bermuda) Ltd. [6]   Holding Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                       $604                                      $311
Receivables - net                                                          (519)                                   (2,916)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                         85                                    (2,605)
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                        33,111                                   118,067
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                        33,111                                   118,067
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                        8
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                        8
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                            $33,204                                  $115,462
============================================================= ==================== ==================== ====================



194



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Mission Funding
                                                              (Netherlands)        (Netherlands)        Alpha
                                                              Holdings Company     Investments B.V.
                                                              B.V. 110             [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                        $57                   $4
Receivables - net                                                           (30)               2,048             $142,745
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                         27                2,052              142,745
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                         4,781
Investments in leveraged leases                                                                                   719,206
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                         4,781                                   719,206
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                             $4,808               $2,052             $861,951
============================================================= ==================== ==================== ====================



195



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Funding Mu   Mission Funding      Mission Funding Nu
                                                              [6]                  Delta                [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents
Receivables - net                                                        $2,249                 $114               $5,507
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                      2,249                  114                5,507
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries
Investments in leveraged leases                                          24,910                                    58,961
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                        24,910                                    58,961
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                            $27,159                 $114              $64,468
============================================================= ==================== ==================== ====================



196



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission              Mission (Bermuda)    Mission Funding
                                                              Investments, Inc.    Investments, Ltd.    Epsilon
                                                                                   28
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                        $12                  $25
Receivables - net                                                          (282)                (309)             $16,800
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                       (270)                (284)              16,800
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                                                                 346,915
Investments in leveraged leases                                                                                   269,387
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                                                                 616,302
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                                                                 11
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                                                 11
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                              ($270)               ($284)            $633,113
============================================================= ==================== ==================== ====================



197



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        Mission Funding
                                                              Adjustments          Epsilon
                                                                                   Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------


Cash and equivalents                                                                         $64,926
Receivables - net                                                                            171,826
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current assets                                                                         236,752
------------------------------------------------------------- -------------------- -------------------- --------------------

Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
  and unconsolidated subsidiaries                                                            511,636
Investments in leveraged leases                                                            1,072,464
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------

Total investment and other assets                                                          1,584,100
------------------------------------------------------------- -------------------- -------------------- --------------------

Utility plant, at original cost:
  Transmission and distribution
  Generation
Accumulated provision for depreciation
  and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------

Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------

Goodwill
Regulatory assets - net
Other deferred charges                                                                            19
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred charges                                                                            19
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------

Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Total assets                                                                              $1,820,871
============================================================= ==================== ==================== ====================



198



Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)



                                                              Burlington           Edison Capital       Edison Capital
                                                              Apartments, Inc.     Europe Limited       Ventures
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                             $5                 $146                 $202
Accrued taxes                                                                                     50
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                                         86
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                     5                  282                  202
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                       4                  (11)                   1
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                                     (11)                   1
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)                                                    (75)
Retained earnings                                                          (193)                 385                 (124)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                          (193)                 310                 (124)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                ($184)                $581                  $79
============================================================= ==================== ==================== ====================



199



Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Funding       Edison Mortgage      Mission Bartlett
                                                              Company              Company              Hill Company
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                        $150,000
Long-term debt classified as due within one year                        162,312
Preferred stock to be redeemed within one year
Accounts payable                                                       (159,863)               ($954)
Accrued taxes                                                           273,073
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                47,828
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               473,350                 (954)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                          434,543
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                               2,088,032                   11
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits                            9,943
Other long-term liabilities                                              54,991
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                          2,152,966                   11
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                            127,166
Additional paid-in capital
Accumulated other comprehensive income (loss)                            (3,817)
Retained earnings                                                       780,535                  777
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                       903,884                  777
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                           $3,964,743                ($166)
============================================================= ==================== ==================== ====================



200



Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission              Renewable Energy     Edison Capital
                                                              International        Capital Company
                                                              Capital, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                            $16                ($115)            $173,018
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                                                           9,745
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                    16                 (115)             182,763
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                                                            (3,984)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits                                                                      4,311
Other long-term liabilities                                                                                        13,698
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                                                       14,025
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                                       3               81,164
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                           (16)                 113             (106,158)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                          ($16)                 116              (24,994)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                                        $1             $171,794
============================================================= ==================== ==================== ====================



201



Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        Edison Capital
                                                              Adjustments          Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                                             $150,000
Long-term debt classified as due within one year                                             162,312
Preferred stock to be redeemed within one year
Accounts payable                                                          ($470)              11,985
Accrued taxes                                                          (273,123)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                                     57,659
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                              (273,593)             381,956
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                                               434,543
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                                    2,084,053
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits                                                14,254
Other long-term liabilities                                                                   68,689
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                               2,166,996
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                           (127,169)              81,164
Additional paid-in capital
Accumulated other comprehensive income (loss)                                                 (3,892)
Retained earnings                                                                            675,319
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                      (127,169)             752,591
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                            ($400,762)          $3,736,086
============================================================= ==================== ==================== ====================



202



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Integrated    Mission First
                                                              Housing              Energy Services      Asset Investment
                                                              Investments
                                                              Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                         $9,013                  $16             ($19,764)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                43,971
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                52,984                   16              (19,764)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                            3,862
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                  60,735
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits                            9,943
Other long-term liabilities                                              21,225
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                             91,903
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                            319,013                                    19,764
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                       211,549                  (16)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                       530,562                 ($16)             $19,764
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                             $679,311
============================================================= ==================== ==================== ====================



203



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Funding      Mission Funding      Mission Funding
                                                              Beta                 Epsilon              Gamma
                                                                                   Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        $10,106            ($589,307)             ($1,786)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                10,106             (589,307)              (1,786)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                 583,557              998,183              258,615
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                            583,557              998,183              258,615
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                            115,373            1,225,214               75,295
Additional paid-in capital
Accumulated other comprehensive income (loss)                                                     (5)
Retained earnings                                                        45,579              186,786               26,795
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                       160,952            1,411,995              102,090
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                             $754,615           $1,820,871             $358,919
============================================================= ==================== ==================== ====================



204



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Funding      Mission Funding      Mission Iowa Wind
                                                              Kappa                Zeta                 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                       $188,854             ($50,247)            ($22,557)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               188,854              (50,247)             (22,557)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                 131,364               30,748               37,186
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                            131,364               30,748               37,186
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                            115,508               40,365               92,500
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                        67,579               15,552               12,054
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                       183,087               55,917              104,554
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                             $503,305              $36,418             $119,183
============================================================= ==================== ==================== ====================



205



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Funding       Consolidating        Edison Funding
                                                              Company              Adjustments          Company
                                                                                                        Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt                                                        $150,000                                  $150,000
Long-term debt classified as due within one year                        162,312                                   162,312
Preferred stock to be redeemed within one year
Accounts payable                                                        316,014                ($205)            (159,863)
Accrued taxes                                                           273,073                                   273,073
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                 3,857                                    47,828
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               905,256                 (205)             473,350
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                          430,681                                   434,543
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                 (12,356)                                2,088,032
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits                                                                      9,943
Other long-term liabilities                                              33,766                                    54,991
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                             21,410                                 2,152,966
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                            127,166           (2,003,032)             127,166
Additional paid-in capital
Accumulated other comprehensive income (loss)                            (3,812)                                   (3,817)
Retained earnings                                                       214,657                                   780,535
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                       338,011           (2,003,032)             903,884
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                           $1,695,358          ($2,003,237)          $3,964,743
============================================================= ==================== ==================== ====================



206



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              East Coast           EC Asset Services,   EC Properties, Inc.
                                                              Capital, Inc.        Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                          ($356)               ($613)               ($276)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                  (356)                (613)                (276)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                      16                   17                   23
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                 16                   17                   23
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                242                   58                   31
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                           109                  568                  730
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                           351                  626                  761
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                  $11                  $30                 $508
============================================================= ==================== ==================== ====================



207



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              EC Properties III,   EC-SLP, Inc.         ECHI-A Company
                                                              Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                           ($17)                 $34
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                   (17)                  34
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                       6
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                  6
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                  2
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                            78                  (15)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                            80                  (15)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                  $69                  $19
============================================================= ==================== ==================== ====================



208



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              ECHIB Company        ECHI Wyvernwood,     ECHP Investment
                                                                                   Inc.                 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================



209



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Edison Capital
                                                              Affordable Housing   Affordable Housing   Affordable Housing
                                                              97 V                 97 VI                97 VII
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================



210



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Edison Capital
                                                              Affordable Housing   Affordable Housing   Affordable Housing
                                                              97 VIII              99A Company          99B Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================



211



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Edison Capital
                                                              Housing Delaware     Housing Florida      Housing Management
                                                              Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                            $22                  $13              ($4,488)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                    22                   13               (4,488)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                       1                                      (382)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                  1                                      (382)
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                  2                                     3,772
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                           (14)                 (13)               1,783
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                           (12)                ($13)               5,555
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                  $11                                      $685
============================================================= ==================== ==================== ====================



212



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Edison Capital
                                                              Housing New Jersey   Housing New York     Housing
                                                                                                        Pennsylvania
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        ($6,401)                 $57              ($6,394)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                                      3,070
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                (6,401)               3,127               (6,394)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                    (145)                                      189
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                               (145)                                      189
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                              9,248                1,500                9,325
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                          (207)                 (45)                (864)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                         9,041                1,455                8,461
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                               $2,495               $4,582               $2,256
============================================================= ==================== ==================== ====================



213



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Housing       Edison Housing       Edison Housing
                                                              North Carolina       Oregon, Inc.         South Carolina
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        ($1,310)                 $12              ($1,688)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                (1,310)                  12               (1,688)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                     189                                       184
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                189                                       184
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                              2,144                                     2,066
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                           760                  (12)                 301
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                         2,904                 ($12)               2,367
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                               $1,783                                      $863
============================================================= ==================== ==================== ====================



214



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              EHI Development      EHI Development      MHICAL 94 Company
                                                              Company              Fund
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        ($1,091)               ($952)            ($45,788)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                (1,091)                (952)             (45,788)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                                       (1,534)                (443)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                                  (1,534)                (443)
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                              1,001                5,000               30,581
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                            87                1,473               10,048
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                         1,088                6,473               40,629
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                  ($3)              $3,987              ($5,602)
============================================================= ==================== ==================== ====================



215



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              MHICAL 95 Company    Edison Housing       MHICAL 96 Company
                                                                                   Consolidation Co.
                                                                                   (6)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                       ($62,284)               ($445)            ($37,372)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               (62,284)                (445)             (37,372)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                    (655)                                    1,484
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                               (655)                                    1,484
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             44,132               14,578               25,926
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                        10,364                7,917               11,311
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        54,496               22,495               37,237
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                              ($8,443)             $22,050               $1,349
============================================================= ==================== ==================== ====================



216



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              MHICAL 97 Company    MHIFED 94 Company    MHIFED 95 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        ($7,340)            ($26,906)            ($18,369)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                (7,340)             (26,906)             (18,369)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                   1,419                  327                2,181
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                              1,419                  327                2,181
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                              3,906               20,040                8,662
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                         7,647                6,156                5,390
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        11,553               26,196               14,052
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                               $5,632                ($383)             ($2,136)
============================================================= ==================== ==================== ====================



217



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              MHIFED 96 Company    MHIFED 96A Company   MHIFED 97 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        ($1,485)            ($15,621)                  $7
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                (1,485)             (15,621)                   7
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                      88                  128
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                 88                  128
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                              1,127               13,766
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                           (56)               1,291                   (9)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                         1,071               15,057                   (9)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                ($326)               ($436)                 ($2)
============================================================= ==================== ==================== ====================



218



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Housing      Mission Housing      Mission Housing
                                                              Alpha                Beta                 Delta
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        ($4,377)             ($7,538)            ($14,857)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                (4,377)              (7,538)             (14,857)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                   1,191                  145                  280
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                              1,191                  145                  280
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                              3,264                4,460               10,110
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                           209                2,407                5,298
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                         3,473                6,867               15,408
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                 $287                ($526)                $831
============================================================= ==================== ==================== ====================



219



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Housing      Mission Housing      Mission Housing
                                                              Denver               Epsilon              Gamma
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                       ($10,590)             ($1,282)             ($5,287)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               (10,590)              (1,282)              (5,287)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                     (94)                 (58)                 (34)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                (94)                 (58)                 (34)
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                              7,925                1,161                3,340
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                         2,753                  235                1,819
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        10,678                1,396                5,159
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                  ($6)                 $56                ($162)
============================================================= ==================== ==================== ====================



220



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Housing      Mission Housing      Mission Funding
                                                              Holdings             Theta                Theta [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                       ($20,615)             ($1,316)                ($12)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               (20,615)              (1,316)                 (12)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                    (462)                  (2)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                               (462)                  (2)
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             17,570                1,207                   27
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                         3,531                1,246                  (24)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        21,101                2,453                    3
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                  $24               $1,135                  ($9)
============================================================= ==================== ==================== ====================



221



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Housing      Mission SA Company
                                                              Zeta
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                       ($10,792)                ($21)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               (10,792)                 (21)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                    (123)                  40
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                               (123)                  40
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             12,754                   54
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                           471                 (109)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        13,225                  (55)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                               $2,310                 ($36)
============================================================= ==================== ==================== ====================



222



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Funding       Edison Funding
                                                              Omicron Inc.         Olive Court [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                       $122,610                  $53
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                   330                  382
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               122,940                  435
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                                                 3,862
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                  18,260                   (1)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                             18,260                   (1)
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             12,724
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                       106,389                  (21)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                       119,113                  (21)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                             $260,313               $4,275
============================================================= ==================== ==================== ====================



223



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Consolidating        Edison Capital
                                                              Housing Investments  Adjustments          Housing
                                                                                                        Investments
                                                                                                        Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                       $202,088                                    $9,013
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities                                                50,132              ($9,943)              43,971
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               252,220               (9,943)              52,984
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt                                                                                                      3,862
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                  38,500                                    60,735
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits                                                 9,943                9,943
Other long-term liabilities                                              21,225                                    21,225
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                             59,725               $9,943               91,903
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             47,308                                   319,013
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                        22,567                                   211,549
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        69,875                                   530,562
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                             $381,820                                  $679,311
============================================================= ==================== ==================== ====================



224



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital LAI   Edison Capital
                                                              (Bermuda)            (Bermuda) Ltd. [6]   Latin American
                                                              Investments, Ltd.                         Investments
                                                                                                        (Bermuda), Ltd. [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                        $79,582
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                79,582
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                     126
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                126
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                              6,723
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                        (7,337)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                          (614)
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                              $79,094
============================================================= ==================== ==================== ====================



225



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Edison Capital
                                                              International        International        Latin American
                                                              (Bermuda) Ltd.       Transmission         Investments
                                                                                   (Bermuda) Ltd. [6]   Holding Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                         $1,964                                  ($11,525)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                 1,964                                   (11,525)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                                                                27
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                                                           27
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             29,384                                   124,425
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                         1,856                                     2,535
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        31,240                                   126,960
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                              $33,204                                  $115,462
============================================================= ==================== ==================== ====================



226



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Edison Capital       Edison Capital       Mission Funding
                                                              (Netherlands)        (Netherlands)        Alpha
                                                              Holdings Company     Investments B.V.
                                                              B.V.                 [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                           $205                                  ($23,154)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                   205                                   (23,154)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                     (13)               ($156)             675,563
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                (13)                (156)             675,563
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                              4,781                4,781              157,652
Additional paid-in capital
Accumulated other comprehensive income (loss)                                                     (5)
Retained earnings                                                          (165)              (2,568)              51,890
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                         4,616                2,208              209,542
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                               $4,808               $2,052             $861,951
============================================================= ==================== ==================== ====================



227



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission Funding Mu   Mission Funding      Mission Funding Nu
                                                              [6]                  Delta                [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                       ($12,101)            ($19,847)            ($26,235)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                               (12,101)             (19,847)             (26,235)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                  14,964                   (4)              38,785
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                             14,964                   (4)              38,785
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                             14,750               13,880               33,188
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                         9,546                6,085               18,730
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                        24,296               19,965               51,918
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                              $27,159                 $114              $64,468
============================================================= ==================== ==================== ====================



228



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Mission              Mission (Bermuda)    Mission Funding
                                                              Investments, Inc.    Investments, Ltd.    Epsilon
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                           $605                ($692)           ($578,109)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                   604                 (692)            (578,109)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                  (2,148)              (2,131)             273,170
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                             (2,148)              (2,131)             273,170
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                 25                1,174              834,451
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings                                                         1,248                1,365              103,601
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                         1,273                2,539              938,052
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                ($270)               ($284)            $633,113
============================================================= ==================== ==================== ====================



229



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)




                                                              Consolidating        Mission Funding
                                                              Adjustments          Epsilon
                                                                                   Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------


Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable                                                                           ($589,307)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total current liabilities                                                                   (589,307)
------------------------------------------------------------- -------------------- -------------------- --------------------

Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------

Accumulated deferred income taxes - net                                                      998,183
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total deferred credits and other liabilities                                                 998,183
------------------------------------------------------------- -------------------- -------------------- --------------------

Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------

Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------

Preferred stock of utility:
  Not subject to mandatory redemption
  Subject to mandatory redemption
Company-obligated mandatorily redeemable
  securities of subsidiaries holding
  solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------

Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------

Common stock                                                                               1,225,214
Additional paid-in capital
Accumulated other comprehensive income (loss)                                                     (5)
Retained earnings                                                                            186,786
------------------------------------------------------------- -------------------- -------------------- --------------------

Total common shareholders' equity                                                          1,411,995
------------------------------------------------------------- -------------------- -------------------- --------------------

Total liabilities and shareholders' equity                                                $1,820,871
============================================================= ==================== ==================== ====================



230



Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)



                                                                Burlington           Edison Capital       Edison Capital
                                                                Apartments, Inc.     Europe Limited       Ventures
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                   $1               $1,875
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                         1                1,875
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                55                1,640
Depreciation, decommissioning and amortization                                                      78
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                       55                1,718
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                       (54)                 157
Interest and dividend income                                                    4                    7
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                         (50)                 164
Income taxes (benefit)                                                        (20)                  96                   $2
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                      (30)                  68                   (2)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                             (30)                  68                   (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                        (163)                 317                 (122)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                             ($193)                $385                ($124)
=============================================================== ==================== ==================== ====================



231




Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Funding       Edison Mortgage      Mission Bartlett
                                                                Company              Company              Hill Company
                                                                Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                             $201,398
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                   201,398
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                            23,990                   $3
Depreciation, decommissioning and amortization                             12,400
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                   36,390                    3
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                   165,008                   (7)
Interest and dividend income                                               19,027
Other nonoperating income                                                 (30,604)
Interest expense - net of amounts capitalized                             (64,171)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                      89,260                  (10)
Income taxes (benefit)                                                    (12,702)                 (11)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                  101,962                    1
Income (loss) from discontinued operations
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                         101,962                    1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                     678,573                  776
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                          $780,535                 $777
=============================================================== ==================== ==================== ====================




232



Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Mission              Renewable Energy     Edison Capital
                                                                International        Capital Company
                                                                Capital, Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                                                           $412
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                                                 412
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $3                                    25,182
Depreciation, decommissioning and amortization                                                                        4,452
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        3                                    29,634
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (3)                                  (29,222)
Interest and dividend income                                                                                            121
Other nonoperating income
Interest expense - net of amounts capitalized                                                                            (1)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                          (3)                                  (29,102)
Income taxes (benefit)                                                         (1)                  $1              (11,119)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       (2)                  (1)             (17,983)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              (2)                  (1)             (17,983)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                         (14)                 114              (88,175)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                              ($16)                $113            ($106,158)
=============================================================== ==================== ==================== ====================




233



Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Consolidating        Edison Capital
                                                                Adjustments          Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                              ($2,037)            $201,649
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                    (2,037)             201,649
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                            (2,037)              48,836
Depreciation, decommissioning and amortization                                                  16,930
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                   (2,037)              65,766
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                                        135,883
Interest and dividend income                                                                    19,152
Other nonoperating income                                                                      (30,604)
Interest expense - net of amounts capitalized                                                  (64,172)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                                           60,259
Income taxes (benefit)                                                                         (23,754)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                                        84,013
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                                               84,013
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                        (658)             590,648
Dividends declared on common stock                                           $658                  658
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                                               $675,319
=============================================================== ==================== ==================== ====================



234



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Capital       Edison Integrated    Mission First
                                                                Housing              Energy Services      Asset Investment
                                                                Investments
                                                                Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                              $54,212
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                    54,212
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                            20,064                   $3                   $2
Depreciation, decommissioning and amortization                              8,205
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                   28,268                    3                    2
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                    25,944                   (3)                  (2)
Interest and dividend income                                                  561
Other nonoperating income                                                 (30,604)
Interest expense - net of amounts capitalized                                  (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                      (4,102)                  (3)                  (2)
Income taxes (benefit)                                                    (54,316)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                   50,214                   (3)                  (2)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                          50,214                   (3)                  (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                     161,335                  (13)                  $2
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                          $211,549                 ($16)
=============================================================== ==================== ==================== ====================



235



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Mission Funding      Mission Funding      Mission Funding
                                                                Beta                 Epsilon              Gamma
                                                                                     Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                              $23,419              $25,315              $16,708
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                    23,419               25,315               16,708
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                              (463)                 217                    3
Depreciation, decommissioning and amortization                                                       3
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                     (463)                 220                    3
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                    23,882               25,095               16,705
Interest and dividend income                                                                    14,544
Other nonoperating income
Interest expense - net of amounts capitalized                                                   (3,286)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                      23,882               36,353               16,705
Income taxes (benefit)                                                      9,474               25,647                6,168
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                                        10,706               10,537
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                          14,408               10,706               10,537
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                      31,171              176,080               16,258
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                           $45,579             $186,786              $26,795
=============================================================== ==================== ==================== ====================




236



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Mission Funding      Mission Funding      Mission Iowa Wind
                                                                Kappa                Zeta                 Company
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                              $68,069                ($582)               ($838)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                    68,069                 (582)                (838)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                              (694)                   3                    3
Depreciation, decommissioning and amortization                                                   1,016                  284
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                     (694)               1,019                  287
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                    68,763               (1,601)              (1,125)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                      68,763               (1,601)              (1,125)
Income taxes (benefit)                                                     27,190               (2,187)              (4,945)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                   41,573                  586                3,820
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                          41,573                  586                3,820
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                      26,006               14,966                8,234
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                           $67,579              $15,552              $12,054
=============================================================== ==================== ==================== ====================



237



Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Funding       Consolidating        Edison Funding
                                                                Company              Adjustments          Company
                                                                                                          Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                              $15,095                                  $201,398
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                    15,095                                   201,398
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                             4,853                                    23,990
Depreciation, decommissioning and amortization                              2,892                                    12,400
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                    7,745                                    36,390
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                     7,350                                   165,008
Interest and dividend income                                                3,922                                    19,027
Other nonoperating income                                                                                           (30,604)
Interest expense - net of amounts capitalized                             (60,882)                                  (64,171)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                     (49,610)                                   89,260
Income taxes (benefit)                                                    (19,733)                                  (12,702)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                  (29,877)                                  101,962
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                         (29,877)                                  101,962
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                     244,534                                   678,573
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                          $214,657                                  $780,535
=============================================================== ==================== ==================== ====================




238



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                East Coast           EC Asset Services,   EC Properties, Inc.
                                                                Capital, Inc.        Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                                       $83
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                             83
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                       $7                                        $1
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (7)                  83                   (1)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                          (7)                  83                   (1)
Income taxes (benefit)                                                         (3)                  30                 (140)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       (4)                  53                  139
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              (4)                  53                  139
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                         113                  515                  591
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                              $109                 $568                 $730
=============================================================== ==================== ==================== ====================



239



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                EC Properties III,   EC-SLP, Inc.         ECHI-A Company
                                                                Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $1                   $1
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        1                    1
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (1)                  (1)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                          (1)                  (1)
Income taxes (benefit)                                                        (26)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       25                   (1)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              25                   (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                          53                  (14)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                               $78                 ($15)
=============================================================== ==================== ==================== ====================



240



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                ECHI-B Company       ECHI Wyvernwood,     ECHP Investment
                                                                                     Inc.                 Company
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year
=============================================================== ==================== ==================== ====================



241



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Capital       Edison Capital       Edison Capital
                                                                Affordable Housing   Affordable Housing   Affordable Housing
                                                                97 V                 97 VI                97 VII
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year
=============================================================== ==================== ==================== ====================



242



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Capital       Edison Capital       Edison Capital
                                                                Affordable Housing   Affordable Housing   Affordable Housing
                                                                97 VIII              99A Company          99B Company
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year
=============================================================== ==================== ==================== ====================



243



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Capital       Edison Capital       Edison Capital
                                                                Housing Delaware     Housing Florida      Housing Management
                                                                Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                                                        ($5,379)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                                              (5,379)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $3                   $2                    2
Depreciation, decommissioning and amortization                                                                          111
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        3                    2                  113
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (3)                  (2)              (5,492)
Interest and dividend income
Other nonoperating income                                                     (11)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                         (14)                  (2)              (5,492)
Income taxes (benefit)                                                         (6)                                     (798)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       (8)                  (2)              (4,694)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              (8)                  (2)              (4,694)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                          (6)                 (11)               6,477
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                              ($14)                ($13)              $1,783
=============================================================== ==================== ==================== ====================



244



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Capital       Edison Capital       Edison Housing
                                                                Housing New Jersey   Housing New York     Pennsylvania
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $3                   $2                   $3
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        3                    2                    3
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (3)                  (2)                  (3)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                          (3)                  (2)                  (3)
Income taxes (benefit)                                                        608                    8                  519
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                     (611)                 (10)                (522)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                            (611)                 (10)                (522)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                         404                  (35)                (342)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                             ($207)                ($45)               ($864)
=============================================================== ==================== ==================== ====================



245



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Housing       Edison Housing       Edison Housing
                                                                North Carolina       Oregon, Inc.         South Carolina
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $3                   $2                   $2
Depreciation, decommissioning and amortization                                 (5)                                       (6)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                       (2)                   2                   (4)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                         2                   (2)
Interest and dividend income
Other nonoperating income                                                     (14)                                      (17)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                         (12)                  (2)                 (13)
Income taxes (benefit)                                                        (47)                                      (49)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       35                   (2)                  36
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              35                   (2)                  36
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                         725                  (10)                 265
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                              $760                 ($12)                $301
=============================================================== ==================== ==================== ====================



246



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                EHI Development      EHI Development      MHICAL 94 Company
                                                                Company              Fund
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                                       $16
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                             16
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $2                  185                   $2
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        2                  185                    2
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (2)                (169)                  (2)
Interest and dividend income                                                                       448                   20
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                          (2)                 279                   18
Income taxes (benefit)                                                                             125                1,916
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       (2)                 154               (1,898)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              (2)                 154               (1,898)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                          89                1,319               11,946
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                               $87               $1,473              $10,048
=============================================================== ==================== ==================== ====================



247



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                MHICAL 95 Company    Edison Housing       MHICAL 96 Company
                                                                                     Consolidation Co.
                                                                                     [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $3                   $2                   $2
Depreciation, decommissioning and amortization                                (33)                                     (366)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                      (30)                   2                 (364)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        30                   (2)                 364
Interest and dividend income
Other nonoperating income                                                     128                                      (348)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                         158                   (2)                  16
Income taxes (benefit)                                                      2,871                                     2,330
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                   (2,713)                  (2)              (2,314)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                          (2,713)                  (2)              (2,314)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                      13,077                7,919               13,625
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                           $10,364               $7,917              $11,311
=============================================================== ==================== ==================== ====================



248



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                MHICAL 97 Company    MHIFED 94 Company    MHIFED 95 Company
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                                       $50                  $50
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                             50                   50
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $2                  (42)                 (95)
Depreciation, decommissioning and amortization                                 91
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                       93                  (42)                 (95)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                       (93)                  92                  145
Interest and dividend income
Other nonoperating income                                                    (963)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                      (1,056)                  92                  145
Income taxes (benefit)                                                       (933)                  37                   57
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                     (123)                  55                   88
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                            (123)                  55                   88
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                       7,770                6,101                5,302
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                            $7,647               $6,156               $5,390
=============================================================== ==================== ==================== ====================




249



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                MHIFED 96 Company    MHIFED 96A Company   MHIFED 97 Company
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                                                          $1
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                                                                  1
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                                                                  (1)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized                                                                             1
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                                                                    (2)
Income taxes (benefit)                                                         $1                   $1                    1
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       (1)                  (1)                  (3)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              (1)                  (1)                  (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                         (55)               1,292                   (6)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                              ($56)              $1,291                  ($9)
=============================================================== ==================== ==================== ====================



250



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Mission Housing      Mission Housing      Mission Housing
                                                                Alpha                Beta                 Delta
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $3                   $3                   $3
Depreciation, decommissioning and amortization                                 17
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                       20                    3                    3
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                       (20)                  (3)                  (3)
Interest and dividend income
Other nonoperating income                                                     137                                    (2,085)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                         117                   (3)              (2,088)
Income taxes (benefit)                                                         70                  255               (1,033)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       47                 (258)              (1,055)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              47                 (258)              (1,055)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                         162                2,665                6,353
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                              $209               $2,407               $5,298
=============================================================== ==================== ==================== ====================



251



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Mission Housing      Mission Housing      Mission Housing
                                                                Denver               Epsilon              Gamma
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $3                   $3                  $13
Depreciation, decommissioning and amortization                                                       3
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        3                    6                   13
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (3)                  (6)                 (13)
Interest and dividend income
Other nonoperating income                                                                           22
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                          (3)                  16                  (13)
Income taxes (benefit)                                                          5                   57                  167
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                       (8)                 (41)                (180)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              (8)                 (41)                (180)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                       2,761                  276                1,999
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                            $2,753                 $235               $1,819
=============================================================== ==================== ==================== ====================



252



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Mission Housing      Mission Housing      Mission Funding
                                                                Holdings             Theta                Theta [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                                        $7
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                                              7
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $2                    3                   $3
Depreciation, decommissioning and amortization                                                    (159)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        2                 (156)                   3
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (2)                 163                   (3)
Interest and dividend income
Other nonoperating income                                                                         (467)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                          (2)                (304)                  (3)
Income taxes (benefit)                                                      1,294                 (613)                  (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                   (1,296)                 309                   (2)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                          (1,296)                 309                   (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                       4,827                  937                  (22)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                            $3,531               $1,246                 ($24)
=============================================================== ==================== ==================== ====================



253



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Mission Housing      Mission SA Company
                                                                Zeta
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                $2                   $2
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        2                    2
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                        (2)                  (2)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                          (2)                  (2)
Income taxes (benefit)                                                        561
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                     (563)                  (2)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                            (563)                  (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                       1,034                 (107)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                              $471                ($109)
=============================================================== ==================== ==================== ====================



254



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Funding       Edison Funding
                                                                Omicron Inc.         Olive Court [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                 $614
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                       614
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                               170                  $29
Depreciation, decommissioning and amortization                              4,592
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                    4,762                   29
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                    (4,148)                 (29)
Interest and dividend income                                                   30
Other nonoperating income                                                 (22,123)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                     (26,241)                 (29)
Income taxes (benefit)                                                    (62,180)                 (12)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                   35,939                  (17)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                          35,939                  (17)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                      70,450                   (4)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                          $106,389                 ($21)
=============================================================== ==================== ==================== ====================



255



Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Capital       Consolidating        Edison Capital
                                                                Housing Investments  Adjustments          Housing
                                                                                                          Investments
                                                                                                          Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                              $49,224                                   $54,212
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                    49,224                                    54,212
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                            14,203                                    20,063
Depreciation, decommissioning and amortization                              3,465                                     8,205
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                   17,668                                    28,268
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                    31,556                                    25,944
Interest and dividend income                                                   55                                       561
Other nonoperating income                                                  (4,863)                                  (30,604)
Interest expense - net of amounts capitalized                                  (2)                                       (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                      26,746                                    (4,102)
Income taxes (benefit)                                                        247                                   (54,316)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                   26,499                                    50,214
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                          26,499                                    50,214
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                      (3,932)                                  161,335
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                           $22,567                                  $211,549
=============================================================== ==================== ==================== ====================




256



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Capital       Edison Capital LAI   Edison Capital
                                                                (Bermuda)            (Bermuda) Ltd. [6]   Latin American
                                                                Investments, Ltd.                         Investments
                                                                                                          (Bermuda), Ltd. [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                             ($19,749)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                   (19,749)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                13
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                       13
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                   (19,762)
Interest and dividend income                                                5,185
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                     (14,577)
Income taxes (benefit)                                                     (5,903)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                   (8,674)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                          (8,674)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                       1,337
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                           ($7,337)
=============================================================== ==================== ==================== ====================



257



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Capital       Edison Capital       Edison Capital
                                                                International        Inernational         Latin American
                                                                (Bermuda) Ltd.       Transmission         Investments
                                                                                     (Bermuda) Ltd.       Holding Company
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                  ($3)                                  ($5,674)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                        (3)                                   (5,674)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                28                                         1
Depreciation, decommissioning and amortization                                  1
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                       29                                         1
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                       (32)                                   (5,675)
Interest and dividend income                                                  731                                     2,900
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                         699                                    (2,775)
Income taxes (benefit)                                                        235                                    (1,213)
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                      464                                    (1,562)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                             464                                    (1,562)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                       1,392                                     4,097
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                            $1,856                                    $2,535
=============================================================== ==================== ==================== ====================




258



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Edison Capital       Edison Capital       Mission Funding
                                                                (Netherlands)        (Netherlands)        Alpha
                                                                Holdings Company     Investments B.V.
                                                                B.V.                 [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                                 ($17)             ($3,500)             $31,645
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                       (17)              (3,500)              31,645
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                84                   56                    2
Depreciation, decommissioning and amortization                                                       1
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                       84                   57                    2
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                      (101)              (3,557)              31,643
Interest and dividend income                                                    1                2,478
Other nonoperating income
Interest expense - net of amounts capitalized                                                   (3,286)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                        (100)              (4,365)              31,643
Income taxes (benefit)                                                         16               (1,754)              12,808
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                     (116)              (2,611)              18,835
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                            (116)              (2,611)              18,835
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                         (49)                  43               33,055
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                             ($165)             ($2,568)             $51,890
=============================================================== ==================== ==================== ====================



259



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Mission Funding Mu   Mission Funding      Mission Funding Nu
                                                                [6]                  Delta                [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                               $1,597                                    $3,525
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                     1,597                                     3,525
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                 3                   $3                    3
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        3                    3                    3
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                     1,594                   (3)               3,522
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                       1,594                   (3)               3,522
Income taxes (benefit)                                                        647                   42                1,448
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                      947                  (45)               2,074
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                             947                  (45)               2,074
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                       8,599                6,130               16,656
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                            $9,546               $6,085              $18,730
=============================================================== ==================== ==================== ====================



260



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Mission              Mission (Bermuda)    Mission Funding
                                                                Investments, Inc.    Investments, Ltd.    Epsilon
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                               $2,637               $4,136              $17,490
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                     2,637                4,136               17,490
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                                 3                   16                6,777
Depreciation, decommissioning and amortization                                                                            1
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                        3                   16                6,778
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                     2,634                4,120               10,712
Interest and dividend income                                                                                          3,249
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                       2,634                4,120               13,961
Income taxes (benefit)                                                        (13)                (149)              19,483
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                    2,647                4,269               (5,522)
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                           2,647                4,269               (5,522)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                      (1,399)              (2,904)             109,123
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                            $1,248               $1,365             $103,601
=============================================================== ==================== ==================== ====================




261



Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)




                                                                Consolidating        Mission Funding
                                                                Adjustments          Epsilon
                                                                                     Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------


Electric utility
Nonutility power generation
Financial services and other                                              ($6,772)             $25,315
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue                                                    (6,772)              25,315
--------------------------------------------------------------- -------------------- -------------------- --------------------

Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance                                            (6,772)                 217
Depreciation, decommissioning and amortization                                                       3
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses                                                  ($6,772)                 220
--------------------------------------------------------------- -------------------- -------------------- --------------------

Operating income (loss)                                                                         25,095
Interest and dividend income                                                                    14,544
Other nonoperating income
Interest expense - net of amounts capitalized                                                   (3,286)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations before taxes                                           36,353
Income taxes (benefit)                                                                          25,647
--------------------------------------------------------------- -------------------- -------------------- --------------------

Income (loss) from continuing operations                                                        10,706
Loss from discontinued operations
  (including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)                                                                               10,706
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year                                                          176,080
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------

Retained earnings - end of year                                                               $186,786
=============================================================== ==================== ==================== ====================



262



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)



Name of Entity:                          1st Time Homebuyer          1010 SVN Assoc LP           1028 Howard St Assoc LP
                                         Opportunities LP (Chester
                                         County Homes)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $1,344                      $1,016                      $204

  Revenues                               $38                         $41                         $12

  Net Income (Loss)                      ($107)                      ($21)                       ($9)


Ownership Interest(s):                   99.00% by Edison Capital    99.9% by Edison Capital     99.00% by Mission Housing
                                         Housing Investments         Housing Partners IX LP      Investors Partnership











Name of Entity:                          1101 Howard St Assoc LP     1475 167th Ave Assoc LP     16th and Church St Assoc
                                                                     (Bermuda Gardens Apts)      LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $54                         $1,113                      $2,061

  Revenues                               $3                          $109                        $151

  Net Income (Loss)                      ($2)                        ($18)                       ($111)


Ownership Interest(s):                   99.00% by MHIFED 95 LP      99.90% by Edison Capital    99.00% by Edison Funding
                                                                     Housing Partners XI LP      Omicron Inc.






263



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          1732 Champa LP (Buerger     18303 Kittridge Assoc-39    1856 Wells Court Partners
                                         Brothers Lofts)             LP (Kittridge)              LP (Wells Court)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $6,757                      $1,707                      $2,698

  Revenues                               $650                        $257                        $388

  Net Income (Loss)                      ($67)                       ($15)                       ($34)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by Edison Capital    99.00% by Edison Funding
                                         Housing Investments         Housing Investments         Omicron Inc.











Name of Entity:                          210 Washington Ave Assoc    2400 Locust Assoc LP        2601 North Broad St Assoc
                                         (Renaissance Plaza)         (Locust on the Park)        LP (Station House)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $6,072                      $19,089                     $61

  Revenues                               $549                        $2,976                      $5

  Net Income (Loss)                      ($468)                      ($202)                      ($2)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by Edison Capital    99.00% by Corporations
                                         Housing Investments         Housing Investments         for Affordable Housing LP
                                                                                                 II








264



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          2814 Fifth St Assoc LP      3790 Wisconsin Street       5363 Dent Ave Assoc LP
                                         (Land Park Woods)           Partners LP (Wisconsin
                                                                     III)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $813                        $0                          $1,039

  Revenues                               $53                         $0                          $202

  Net Income (Loss)                      ($24)                       $0                          $20


Ownership Interest(s):                   99.00% by Edison Capital    99.90% by Edison Capital    99.00% by MH II LP
                                         Housing Partners IX LP      Housing Investments











Name of Entity:                          708 Pico LP (Wavecrest      Aaron Michael Assoc LP      Abby Assoc LP (Windmere)
                                         Housing)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $366                        $1,359                      $4,753

  Revenues                               $2                          $0                          $317

  Net Income (Loss)                      ($6)                        $0                          ($80)


Ownership Interest(s):                   99.9% by Edison Capital     99.9% by Edison Capital     99.00% by MHICAL 95 LP
                                         Housing Partners XV LP      Housing Partners XVIII LP







265



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Admiralty Heights Assoc     AE Assoc LP (Avenida        Affordable/Citrus Glenn
                                         II 1995 LP (Kent Manor)     Espana)                     Phase II, Ltd (Citrus
                                                                                                 Glenn Apts Phase II)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $623                        $7,184                      $1,021

  Revenues                               $38                         $547                        $122

  Net Income (Loss)                      ($39)                       ($203)                      ($30)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by Edison Funding    99.00% by Edison Capital
                                         Housing Partners VI LP      Omicron Inc.                Housing Partners VI LP











Name of Entity:                          Agape Housing LP            Alhambra Apts LP            Alma Place Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $739                        $2,552                      $1,062

  Revenues                               $50                         $278                        $78

  Net Income (Loss)                      ($34)                       ($79)                       ($41)


Ownership Interest(s):                   99.00% by Edison Funding    99.90% by Edison Capital    99.00% by Edison Capital
                                         Omicron Inc.                Housing Partners XIII LP    Housing Partners IX LP





266



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Altamont Hotel Assoc LP     AMCAL Santa Barbara Fund    Anglo Edison Ravenwood LLC
                                                                     XXXVI LP (Positano)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $1,027                      $1,548                      $0

  Revenues                               $111                        $117                        $0

  Net Income (Loss)                      ($28)                       ($31)                       $0


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by Edison Capital    99.00% by Edison Funding
                                         Housing Partners VI LP      Housing Partners V LP       Omicron Inc.











Name of Entity:                          Antelope Assoc LP           Apollo Development Assoc    Arbor Lane Assoc Phase II
                                                                     LP (Apollo Hotel)           LP (Timberwood)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $10,303                     $551                        $12

  Revenues                               $915                        $41                         $1

  Net Income (Loss)                      ($249)                      ($20)                       $0


Ownership Interest(s):                   99.00% by Edison Capital    99.90% by Edison Capital    99.00% by Corporations
                                         Housing Partners XVII LP    Housing Partners XIV LP     for Affordable Housing LP






267



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Argyle Redevelopment        Arroyo Vista Assoc LP       Artloft Assoc LP
                                         Partnership LP (The
                                         Argyle)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $4,976                      $148                        $46

  Revenues                               $1,273                      $16                         $4

  Net Income (Loss)                      ($608)                      ($4)                        ($1)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by Corporations      35.60% by Corporations
                                         Housing Investments         for Affordable Housing LP   for Affordable Housing LP

                                                                                                 53.39% by Corporations
                                                                                                 for Affordable Housing LP
                                                                                                 II









Name of Entity:                          Auburn Manor Apts LP        Auburn Manor LLC            Avalon Courtyard LP
                                                                                                 (Carson Senior Housing)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $2,716                      $7                          $84

  Revenues                               $376                        $0                          $6

  Net Income (Loss)                      ($136)                      $0                          ($3)


Ownership Interest(s):                   99.90% by Edison Capital    50.00% by Edison Capital    99.00% by MHIFED 95 LP
                                         Housing Partners XI LP      Housing Investments






268



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          B.A.I. Edison Ravenwood     Baker Park Assoc LP         Barnsdall Court LP (Villa
                                         LP (Ravenwood)                                          Mariposa)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $10                         $14,025                     $1,057

  Revenues                               $0                          $797                        $0

  Net Income (Loss)                      ($2)                        ($244)                      $55


Ownership Interest(s):                   90.00% by Edison Capital    99.00% by Edison Capital    99.00% by Edison Capital
                                         Housing Delaware, Inc.      Housing Partners XVII LP    Housing Partners XI LP











Name of Entity:                          Bartlett Hill Assoc LP      Beacon Manor Assoc LP       Benton Green LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $5,140                      $729                        $360

  Revenues                               $448                        $45                         $0

  Net Income (Loss)                      ($533)                      ($32)                       $0


Ownership Interest(s):                   99.00% by Edison Capital    99.90% by Edison Capital    99.90% by Edison Capital
                                         Housing Investments         Housing Partners X LP       Housing Partners XV LP






269



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Berry Ave Assoc LP          Bodega Hills Investors LP   Borregas Court LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $75                         $547                        $2,078

  Revenues                               $4                          $32                         $258

  Net Income (Loss)                      ($2)                        ($12)                       ($82)


Ownership Interest(s):                   99.00% by MHIFED 94 LP      99.00% by Edison Capital    99.00% by Edison Capital
                                                                     Housing Partners V LP       Housing Partners XI LP











Name of Entity:                          Boulder Creek Apartments    Bouquet Canyon Seniors LP   Bracher Assoc LP
                                         LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $4,667                      $20,935                     $6,719

  Revenues                               $350                        $1,794                      $469

  Net Income (Loss)                      ($248)                      ($926)                      ($166)


Ownership Interest(s):                   99.90% by Edison Capital    99.00% by Edison Capital    99.00% by Edison Capital
                                         Housing Partners X LP       Housing Partners XVI LP     Housing Partners XVIII LP






270



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Bradley Manor Senior Apts   Brantwood II Assoc LP       Brookline Housing Assoc
                                         LP                                                      LLC (Bridgewater)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $523                        $2,146                      $99

  Revenues                               $66                         $79                         $11

  Net Income (Loss)                      ($24)                       ($49)                       ($4)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by Edison Funding    99.00% by Corporations
                                         Housing Partners VI LP      Omicron Inc.                for Affordable Housing LP
                                                                                                 II











Name of Entity:                          Brooks School Assoc LP      Bryn Mawr - Belle Shore     Bryson Family Apts LP
                                                                     LP (The)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $3,177                      $26,104                     $2,387

  Revenues                               $134                        $2,376                      $60

  Net Income (Loss)                      ($125)                      ($976)                      ($105)


Ownership Interest(s):                   99.00% by Edison Funding    99.00% by Edison Funding    99.90% by Edison Capital
                                         Omicron Inc.                Omicron Inc.                Housing Partners XI LP






271



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Burlington Senior Housing   Bush Hotel LP               Caleb Affordable Housing
                                         LLC                                                     Assoc LP
                                                                                                 (Ledges/Pinebrook)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $627                        $10,900                     $80

  Revenues                               $58                         $634                        $12

  Net Income (Loss)                      ($30)                       ($23)                       ($2)


Ownership Interest(s):                   99.90% by Edison Capital    99.00% by Edison Funding    99.00% by Corporations
                                         Housing Partners X LP       Omicron Inc.                for Affordable Housing LP











Name of Entity:                          California Park Apts LP     Carlin LP (The)             Carlton Way Apts LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $3,100                      $148                        $38

  Revenues                               $446                        $14                         $2

  Net Income (Loss)                      ($158)                      ($5)                        ($1)


Ownership Interest(s):                   99.00% by MH I LP           99.00% by Corporations      99.00% by MHIFED 94 LP
                                                                     for Affordable Housing LP






272



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Carson Housing LP (Carson   Carson Terrace LP           Casa Rampart LP (Rampart
                                         Street)                                                 Apts)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $1,856                      $490                        $870

  Revenues                               $0                          $0                          $45

  Net Income (Loss)                      ($88)                       $0                          ($39)


Ownership Interest(s):                   98.00% by Edison Capital    99.90% by Edison Capital    98.90% by Edison Capital
                                         Housing Partners XI LP      Housing Partners XIV LP     Housing Partners XI LP











Name of Entity:                          C-Court LP (Cawelti Court)  CCS/Bellingham LP           CCS/Mount Vernon Housing
                                                                     (Washington Grocery         LP (La Venture)
                                                                     Building)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $587                        $3,554                      $1,340

  Revenues                               $24                         $290                        $51

  Net Income (Loss)                      $6                          ($35)                       ($61)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by Edison Capital    99.00% by Edison Capital
                                         Housing Partners VII LP     Housing Investments         Housing Partners XIX LP






273



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          CCS/Renton Housing LP       CDR Senior Housing Assoc    Catalonia Assoc LP
                                         (Renton)                    LP (Casa del Rio)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $614                        $65                         $1,892

  Revenues                               $32                         $4                          $101

  Net Income (Loss)                      ($27)                       ($2)                        ($49)


Ownership Interest(s):                   99.90% by Edison Capital    99.00% by MHIFED 94 LP      99.00% by Edison Capital
                                         Housing Partners X LP                                   Housing Partners VIII LP











Name of Entity:                          Cedarshores Limited         Centennial Place LP         Centertown Assoc LP
                                         Dividend Housing
                                         Association LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $1,221                      $8,091                      $6,085

  Revenues                               $115                        $548                        $430

  Net Income (Loss)                      ($64)                       ($311)                      ($223)


Ownership Interest(s):                   98.99% by Edison Capital    99.00% by MH V LP           99.00% by Edison Funding
                                         Housing Partners XII LP                                 Omicron Inc.

                                         0.01% by Mission Funding
                                         Theta





274



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Centro Partners LP (El      Cincinnati Ravenwood Apts   Chamber Apts LP (The
                                         Centro)                     LP (Ravenwood)              Chamber Bldg)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $4,683                      $5,163                      $1,395

  Revenues                               $186                        $938                        $0

  Net Income (Loss)                      ($568)                      ($220)                      ($44)


Ownership Interest(s):                   99.00% by Edison Funding    99.00% by Edison Funding    99.00% by Edison Capital
                                         Omicron Inc.                Omicron Inc.                Housing Partners XIII LP

                                                                     1.00% by B.A.I. Edison
                                                                     Ravenwood LP (Ravenwood)









Name of Entity:                          Cochrane Village Apts LP    Colina Vista LP             Conejo Valley Community
                                                                                                 Housing Assoc (Community
                                                                                                 House Apts)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $2,022                      $5,389                      $1,529

  Revenues                               $160                        $245                        $87

  Net Income (Loss)                      ($32)                       ($180)                      ($49)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by MHICAL 95 LP      99.00% by Edison Capital
                                         Housing Partners XIX LP                                 Housing Investments







275



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Coolidge Station Apts LLC   Corporations for            Corporations for
                                                                     Affordable Housing LP       Affordable Housing LP II
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $318                        $290                        $268

  Revenues                               $21                         $4                          $5

  Net Income (Loss)                      ($19)                       ($36)                       ($27)


Ownership Interest(s):                   99.00% by Edison Capital    1.00% by EC Properties,     1.00% by EC Properties,
                                         Housing Partners X LP       Inc.                        Inc.











Name of Entity:                          Corporations for            Corona Ely/Ranch Assoc LP   Cottonwood Affordable
                                         Affordable Housing LP III                               Housing LP (Verde Vista)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $140                        $87                         $873

  Revenues                               $1                          $6                          $73

  Net Income (Loss)                      ($15)                       ($1)                        ($37)


Ownership Interest(s):                   1.00% by EC Properties      99.00% by MHIFED 94 LP      99.00% by Edison Capital
                                         III, Inc.                                               Housing Partners VII LP






276



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Coyote Springs Apts Assoc   Cypress Cove Assoc          Davis MHA Twin Pines
                                         LP                                                      Community Assoc LP
                                                                                                 (Northstar Apts)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $10,676                     $2,619                      $703

  Revenues                               $644                        $187                        $48

  Net Income (Loss)                      ($347)                      ($94)                       ($10)


Ownership Interest(s):                   99.00% by Edison Funding    99.00% by Edison Funding    99.90% by Edison Capital
                                         Omicron Inc.                Omicron Inc.                Housing Partners XI LP











Name of Entity:                          Del Carlo Court Assoc LP    Delta Plaza Apts LP         DeRose Housing Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $4,805                      $2,030                      $3,952

  Revenues                               $201                        $82                         $537

  Net Income (Loss)                      ($171)                      ($71)                       ($386)


Ownership Interest(s):                   99.00% by Edison Funding    99.00% by Edison Funding    99.00% by MH III LP
                                         Omicron Inc.                Omicron Inc.






277



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Diamond Creek Apts LP       Diamond Phase III Venture   Don Avante Assoc I LP
                                                                     LP                          (Don de Dios)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $32,217                     $2                          $682

  Revenues                               $0                          $2                          $0

  Net Income (Loss)                      ($948)                      ($1)                        ($23)


Ownership Interest(s):                   99.90% by Edison Capital    99.00% by Corporations      99.90% by Edison Capital
                                         Housing Partners XVI LP     for Affordable Housing LP   Housing Partners XV LP











Name of Entity:                          Don Avante Assoc II LP      Double X Assoc 1995 LP      EAH Larkspur Creekside
                                         (Village Avante)            (Terrace Manor)             Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $12,530                     $622                        $2,387

  Revenues                               $0                          $43                         $246

  Net Income (Loss)                      ($527)                      ($27)                       ($129)


Ownership Interest(s):                   99.90% by Edison Capital    99.00% by Edison Capital    99.00% by Edison Funding
                                         Housing Partners XIV LP     Housing Partners VI LP      Omicron Inc.







278



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          East Cotati Ave Partners    Eastwood Homes LP           ECH/HFC GP Partnership
                                         LP                                                      No. 1
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $5,130                      $1,956                      $15,892

  Revenues                               $359                        $90                         $7

  Net Income (Loss)                      ($105)                      ($114)                      ($363)


Ownership Interest(s):                   99.00% by Edison Funding    99.00% by Edison Capital    34.90% by Edison Capital
                                         Omicron Inc.                Housing Partners XI LP      Housing Investments

                                                                                                 50.40% by MHICAL 96
                                                                                                 Company

                                                                                                 14.70% by MHICAL 97
                                                                                                 Company







Name of Entity:                          ECH/HFC GP Partnership      ECH Investor Partners       ECH Investor Partners
                                         No. 2                       VI-A LP                     VI-B LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $9,348                      $4,393                      $2,687

  Revenues                               $3                          $13                         $8

  Net Income (Loss)                      ($142)                      ($328)                      ($197)


Ownership Interest(s):                   56.70% by Edison Capital    15.39% by Edison Capital    100% by Edison Capital
                                         Housing Investments         Contributions VI Partners   Contributions VI Partners

                                         43.30% by MHICAL 95
                                         Company






279



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          ECHP LLC                    EDA LP (Eagle's Nest)       Edison Capital Affordable
                                                                                                 Housing 99A G.P.
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $0                          $88                         $3,768

  Revenues                               $0                          $24                         $14

  Net Income (Loss)                      $0                          ($2)                        ($368)


Ownership Interest(s):                   99.99% by ECHP Investment   99.00% by Corporations      27.69% by Edison Capital
                                         Company                     for Affordable Housing LP   Housing Investments
                                                                     II
                                                                                                 36.47% by MHICAL 96
                                                                                                 Company
                                                                                                 33.05% by MHICAL 97
                                                                                                 Company
                                                                                                 2.78% by Mission Housing
                                                                                                 Epsilon
                                                                                                 0.01% by Mission Funding
                                                                                                 Theta







Name of Entity:                          Edison Capital Affordable   Edison Capital Housing      Edison Capital Housing
                                         Housing 99B G.P.            Partners V LP               Partners VI LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $5,020                      $5,151                      $424

  Revenues                               $33                         $9                          $1

  Net Income (Loss)                      ($850)                      ($281)                      ($34)


Ownership Interest(s):                   99.99% by Edison Capital    100% by Edison Capital      61.82% by ECH Investor
                                         Housing Investments         Housing Investments         Partners VIA LP

                                         0.01% by Mission Funding                                37.18% by ECH Investor
                                         Theta                                                   Partners VIB LP






280



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Edison Capital Housing      Edison Capital Housing      Edison Capital Housing
                                         Partners VII LP             Partners VIII LP            Partners IX LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $5,522                      $2,572                      $5,735

  Revenues                               $7                          $3                          $14

  Net Income (Loss)                      ($397)                      ($155)                      ($368)


Ownership Interest(s):                   19.40% by ECH/HFC GP        18.54% by ECH/HFC GP        13.5533% by Edison
                                         Partnership No. 1           Partnership No. 2           Capital Affordable
                                                                                                 Housing 99A G.P.











Name of Entity:                          Edison Capital Housing      Edison Capital Housing      Edison Capital Housing
                                         Partners X LP               Partners XI LP              Partners XII LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $11,129                     $6,526                      $3,554

  Revenues                               $33                         $20                         $0

  Net Income (Loss)                      ($851)                      ($1,268)                    ($251)


Ownership Interest(s):                   19.3952% by Edison          18.62486% by Edison         13.73759% by Edison
                                         Capital Affordable          Capital Affordable          Capital Affordable
                                         Housing 99B GP              Housing 99B GP              Housing 99B GP








281



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Edison Capital Housing      Edison Capital Housing      Edison Capital Housing
                                         Partners XIII LP            Partners XIV LP             Partners XV LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $3,189                      $1,393                      $4,272

  Revenues                               $8                          $1                          $4

  Net Income (Loss)                      ($523)                      ($21)                       ($121)


Ownership Interest(s):                   17.03513% by Edison         7.61% by Edison Capital     9.567% by Edison Capital
                                         Capital Affordable          Affordable Housing 99B GP   Affordable Housing 99B GP
                                         Housing 99B GP











Name of Entity:                          Edison Capital Housing      Edison Capital Housing      Edison Capital Housing
                                         Partners XVI LP             Partners XVII LP            Partners XVIII LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $0                          $0                          $0

  Revenues                               $0                          $0                          $0

  Net Income (Loss)                      $0                          $0                          $0


Ownership Interest(s):                   0.01% by ECHP LLC           0.01% by ECHP LLC           0.01% by ECHP LLC






282



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Edison Capital Housing      Edison Capital              Edgewood Manor Assoc II LP
                                         Partners XIX LP             Contributions VI Partners
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $0                          $6,236                      $52

  Revenues                               $0                          $21                         $4

  Net Income (Loss)                      $0                          ($525)                      ($2)


Ownership Interest(s):                   0.01% by ECHP LLC           91.77% by Edison Capital    99.00% by Corporations
                                                                     Housing Investments         for Affordable Housing LP
                                                                                                 II

                                                                     4.03% by Edison Housing
                                                                     North Carolina

                                                                     4.20% by Edison Housing
                                                                     South Carolina







Name of Entity:                          Edmundson Assoc LP (The     El Barrio Academy Urban     Electra Arms Senior Assoc
                                         Willows)                    Renewal Assoc LP (Academy   LP
                                                                     Street)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $2,960                      $4,656                      $2,626

  Revenues                               $165                        $180                        $93

  Net Income (Loss)                      ($149)                      ($213)                      ($41)


Ownership Interest(s):                   99.00% by Edison Funding    99.00% by Edison Funding    99.00% by Edison Capital
                                         Omicron Inc.                Omicron Inc.                Housing Partners XI LP







283



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Elizabeth West and East LP  Emanuel Grant Company LLC   Eugene Hotel LP
                                                                     (Capitol Heights)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $1,778                      $1,702                      $2,552

  Revenues                               $153                        $0                          $0

  Net Income (Loss)                      ($129)                      ($105)                      $11


Ownership Interest(s):                   99.00% by Edison Funding    99.90% by Edison Capital    99.90% by Edison Capital
                                         Omicron Inc.                Housing Partners XV LP      Housing Partners XVI LP











Name of Entity:                          Fairmont Hotel Urban        Fairview Village Assoc LP   Farm (The) Assoc LP
                                         Renewal Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $61                         $6                          $5,253

  Revenues                               $3                          $0                          $337

  Net Income (Loss)                      ($4)                        $0                          ($225)


Ownership Interest(s):                   99.00% by Corporations      99.00% by MHIFED 94 LP      99.00% by Edison Funding
                                         for Affordable Housing LP                               Omicron Inc.







284



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Fell St Housing Assoc LP    Fifth and Wilshire Apts LP  Flagstaff Affordable
                                                                                                 Housing II LP (Forest
                                                                                                 View Apts)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $131                        $1,190                      $1,051

  Revenues                               $6                          $37                         $93

  Net Income (Loss)                      ($3)                        ($20)                       ($38)


Ownership Interest(s):                   99.00% by MHIFED 94 LP      99.00% by Edison Capital    99.00% by Edison Capital
                                                                     Housing Partners VII LP     Housing Partners VII LP











Name of Entity:                          Florence Apts LLC           Florin Woods Assoc LP       Forest Winds Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $2,862                      $6,946                      $267

  Revenues                               $118                        $410                        $19

  Net Income (Loss)                      ($93)                       ($197)                      ($10)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by Edison Capital    99.00% by Mission Housing
                                         Housing Investments         Housing Partners XVIII LP   Investors Partnership






285



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Fremont Building LP         Garnet Housing Assoc LP     Gateway Housing LP
                                         (Crescent Arms)             (Garnet Lane Apts)          (Gateway Plaza)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $18,773                     $2,218                      $83

  Revenues                               $632                        $143                        $12

  Net Income (Loss)                      ($619)                      ($89)                       ($1)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by MHICAL 97 LP      99.00% by Corporations
                                         Housing Partners XVII LP                                for Affordable Housing LP
                                                                                                 II











Name of Entity:                          Gilroy Redwood Assoc LP     Ginzton Assoc LP            Glen Eden Assoc LP (A
                                         (Redwoods)                                              Street)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $2,765                      $3,757                      $350

  Revenues                               $192                        $951                        $14

  Net Income (Loss)                      ($102)                      ($100)                      ($12)


Ownership Interest(s):                   99.00% by Edison Funding    99.00% by Edison Funding    99.00% by Mission Housing
                                         Omicron Inc.                Omicron Inc.                Investors Partnership






286



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Good Samaritan Assoc LP     Grace Housing LP (Grace     Gray's Meadows Investors
                                                                     Street)                     LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $49                         $2,543                      $252

  Revenues                               $2                          $0                          $19

  Net Income (Loss)                      ($1)                        ($148)                      ($10)


Ownership Interest(s):                   99.00% by MHIFED 96A LP     99.00% by Edison Capital    99.00% by Mission Housing
                                                                     Housing Partners XI LP      Investors Partnership











Name of Entity:                          Greenway Village Assoc LP   Grossman Apts Investors LP  Hamilton Place Apts LP
                                                                                                 (Larkin Place)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $35                         $1,039                      $1,288

  Revenues                               $2                          $106                        $136

  Net Income (Loss)                      ($1)                        ($30)                       ($59)


Ownership Interest(s):                   99.00% by MHICAL 96 LP      99.00% by Edison Funding    99.00% by Edison Capital
                                                                     Omicron Inc.                Housing Partners VI LP






287



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Hamilton Place Senior       Harry Clark Jr.             Hearthstone Group 3 LP
                                         Living LP                   Residential Center LLC      (Evergreen Court)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $1,060                      $1,922                      $392

  Revenues                               $99                         $114                        $30

  Net Income (Loss)                      ($54)                       ($164)                      ($19)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by Edison Capital    99.00% by Edison Capital
                                         Housing Partners VI LP      Housing Investments         Housing Partners VI LP











Name of Entity:                          Heather Glen Assoc LP       Hercules Senior Housing     Heritage Partners LP
                                                                     Assoc LP                    (Heritage Villas)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $4,688                      $9,317                      $2,120

  Revenues                               $372                        $438                        $0

  Net Income (Loss)                      ($174)                      ($369)                      ($55)


Ownership Interest(s):                   99.00% by Edison Funding    99.90% by Edison Capital    99.00% by Edison Capital
                                         Omicron Inc.                Housing Partners XVII LP    Housing Partners XII LP






288



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Highland Village Partners   Hilltop Farms LP            HMB-Atlanta I LP (Spring
                                         LP                                                      Branch)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $448                        $3,136                      $5,053

  Revenues                               $0                          $0                          $874

  Net Income (Loss)                      $8                          ($90)                       ($27)


Ownership Interest(s):                   99.90% by Edison Capital    99.90% by Edison Capital    99.00% by Edison Funding
                                         Housing Partners XV LP      Housing Partners XVI LP     Omicron Inc.











Name of Entity:                          Hollywood El Centro LP      Holy Family Assoc LP        Homestead Village Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $110                        $9,576                      $57

  Revenues                               $6                          $535                        $6

  Net Income (Loss)                      ($3)                        ($267)                      ($2)


Ownership Interest(s):                   99.00% by MHIFED 95 LP      99.00% by Edison Funding    99.00% by Corporations
                                                                     Omicron Inc.                for Affordable Housing LP
                                                                                                 II







289



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Hope West Apts LP           Hotel Elkhart LLC (The      Huff Ave Assoc LP
                                                                     Cornerstone)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $27                         $4,078                      $1,929

  Revenues                               $1                          $622                        $152

  Net Income (Loss)                      ($1)                        ($117)                      ($38)


Ownership Interest(s):                   99.00% by MHIFED 94 LP      99.00% by Edison Capital    99.00% by Edison Capital
                                                                     Housing Investments         Housing Partners VII LP











Name of Entity:                          I.G. Partners LP (Island    Josephinum Assoc LP (The)   Junction City Apts LP
                                         Gardens)                                                (Green Park)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $7,520                      $8,211                      $495

  Revenues                               $235                        $1,237                      $717

  Net Income (Loss)                      $14                         ($678)                      ($32)


Ownership Interest(s):                   99.90% by Edison Capital    99.00% by Edison Capital    99.00% by Corporations
                                         Housing Partners XV LP      Housing Investments         for Affordable Housing LP
                                                                                                 II






290



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Karen Partners LP           KDF Malabar LP (Malabar     KDF Park Glenn LP (Park
                                                                     Apts)                       Glenn Apartments)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $172                        $1,720                      $9,712

  Revenues                               $0                          $230                        $1,349

  Net Income (Loss)                      $2                          ($26)                       ($147)


Ownership Interest(s):                   99.90% by Edison Capital    99.00% by Edison Capital    99.00% by Edison Capital
                                         Housing Partners XV LP      Housing Partners VI LP      Housing Partners XVI LP











Name of Entity:                          KDF Park Glenn Seniors LP   KDF Santa Paula LP (Santa   Kennedy Court Partners LP
                                         (Park Glenn Senior Apts     Paula)
                                         II)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $1,744                      $3,317                      $3,203

  Revenues                               $0                          $416                        $192

  Net Income (Loss)                      ($46)                       ($78)                       ($161)


Ownership Interest(s):                   99.90% by Edison Capital    99.00% by Edison Capital    99.00% by MHICAL 96 LP
                                         Housing Partners XVI LP     Housing Partners XIX LP






291



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Kennedy Lofts Assoc LP      King Road Assoc LP          Klamath Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $12,074                     $2,182                      $2,604

  Revenues                               $2,743                      $0                          $148

  Net Income (Loss)                      ($514)                      ($119)                      ($111)


Ownership Interest(s):                   99.00% by Edison Capital    99.90% by Edison Capital    99.00% by MHICAL 96 LP
                                         Housing Investments         Housing Partners XVI LP











Name of Entity:                          Knolls Community Assoc LP   La Brea/Franklin LP         Lackawana Housing Assoc
                                         (The Knolls)                                            (Goodwill)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $1,164                      $56                         $3,757

  Revenues                               $49                         $3                          $147

  Net Income (Loss)                      ($49)                       ($4)                        ($100)


Ownership Interest(s):                   99.90% by Edison Capital    99.00% by MHIFED 95 LP      99.00% by Edison Funding
                                         Housing Partners IX LP                                  Omicron Inc.






292



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Lark Ellen LP               Larkin Pine LP              La Terraza Assoc LP
                                                                                                 (Villa Loma)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $2,590                      $74                         $25,086

  Revenues                               $161                        $3                          $2,083

  Net Income (Loss)                      ($104)                      ($2)                        ($971)



Ownership Interest(s):                   99.00% by Edison Capital    99.00% by MHIFED 95 LP      99.00% by Edison Capital
                                         Housing Partners X LP                                   Housing Partners XVII LP











Name of Entity:                          Lavell Village Assoc LP     LL Housing LP (Laurel       LL Housing LLC
                                                                     Lakes)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $264                        $9,668                      $76

  Revenues                               $17                         $0                          $0

  Net Income (Loss)                      ($10)                       ($916)                      ($2)


Ownership Interest(s):                   99.00% by MHIFED 96 LP      99.00% by Edison Capital    24.50% by Edison Capital
                                                                     Housing Partners XVI LP     Housing Investments





293



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Lee Park Investors LP       Liberty House Assoc LP      Lilac Estates LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $25,383                     $42                         $53

  Revenues                               $6,024                      $3                          $0

  Net Income (Loss)                      $157                        ($2)                        $0


Ownership Interest(s):                   99.00% by Mission Housing   99.00% by Corporations      99.90% by Edison Capital
                                         Alpha                       for Affordable Housing LP   Housing Partners XV LP
                                                                     II











Name of Entity:                          LINC-Bristol Assoc I, LP    Lovejoy Station LP
                                         (City Gardens)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $2,503                      $16,661

  Revenues                               $400                        $0

  Net Income (Loss)                      ($6)                        $20


Ownership Interest(s):                   99.00% by Edison Capital    99.90% by Edison Capital
                                         Housing Partners VI LP      Housing Partners XVIII LP




294



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)



Name of Entity:                          Mackenzie Park Assoc LP     Madison/Mollison LP (Park   Maple Ridge Development
                                                                     Mollison)                   Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $16                         $6,193                      $22

  Revenues                               $1                          $960                        $3

  Net Income (Loss)                      $0                          ($250)                      $0


Ownership Interest(s):                   99.00% by Corporations      99.00% by Edison Capital    99.00% by Corporations
                                         for Affordable Housing LP   Housing Investments         for Affordable Housing LP
                                                                                                 II











Name of Entity:                          Maplewood Housing           Maplewood School Apts LP    Mar Assoc LP (Frank Mar)
                                         Associates LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $5,872                      $5,097                      $9,455

  Revenues                               $253                        $184                        $714

  Net Income (Loss)                      ($156)                      ($244)                      ($559)


Ownership Interest(s):                   99.90% by Edison Capital    99.00% by Edison Funding    99.00% by Edison Funding
                                         Housing Investments         Omicron Inc.                Omicron Inc.






295



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          MAS-WT LP (Washington       Mayacamas Village Assoc LP  McFarland Press Assoc LP
                                         Terrace)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $2,086                      $5,981                      $5,039

  Revenues                               $255                        $350                        $258

  Net Income (Loss)                      ($73)                       ($167)                      ($210)


Ownership Interest(s):                   99.00% by Edison Capital    99.00% by MHICAL 94 LP      99.00% by Edison Funding
                                         Housing Partners VI LP                                  Omicron Inc.











Name of Entity:                          Mercantile Housing LLC      Mercy Housing California    Mercy Housing California
                                         (Mercantile Square)         III LP (3rd and Reed)       IV LP (Vista Grande)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $10,951                     $64                         $699

  Revenues                               $766                        $4                          $40

  Net Income (Loss)                      ($412)                      ($2)                        ($13)


Ownership Interest(s):                   99.00% by Edison Funding    99.00% by MHIFED 95 LP      99.00% by Edison Capital
                                         Omicron Inc.                                            Housing Partners V LP





296



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Mercy Housing California    Mercy Housing California    Merrill Road Assoc LP
                                         VI LP (205 Jones)           IX LP (Sycamore)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $3,435                      $1,945                      $8,863

  Revenues                               $253                        $95                         $512

  Net Income (Loss)                      ($123)                      ($46)                       ($336)


Ownership Interest(s):                   99.00% by MHICAL 95 LP      99.90% by Edison Capital    99.00% by Edison Funding
                                                                     Housing Partners X LP       Omicron Inc.











Name of Entity:                          Metro Senior Assoc LP       MH I LP                     MH II LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $71                         $606                        $60

  Revenues                               $4                          $13                         $3

  Net Income (Loss)                      ($2)                        ($158)                      ($15)


Ownership Interest(s):                   99.00% by MHIFED 96A LP     1.00% by Edison Capital     1.00% by Edison Capital
                                                                     Housing Investments         Housing Investments

                                                                     99.00% by Edison Funding    99.00% by Mission Housing
                                                                     Omicron Inc.                Delta





297



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          MH III LP                   MH IV LP                    MH V LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $321                        $407                        $515

  Revenues                               $10                         $10                         $4

  Net Income (Loss)                      ($340)                      ($358)                      ($314)


Ownership Interest(s):                   1.00% by Edison Capital     1.00% by Edison Capital     1.00% by Edison Capital
                                         Housing Investments         Housing Investments         Housing Investments

                                         99.00% by Mission Housing   99.00% by Mission Housing   99.00% by Mission Housing
                                         Delta                       Delta                       Delta









Name of Entity:                          MHIFED 94 LP                MHICAL 94 LP                MHIFED 95 LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $347                        $17,850                     $312

  Revenues                               $1                          $131                        $1

  Net Income (Loss)                      ($29)                       ($1,717)                    ($39)


Ownership Interest(s):                   1.00% by Edison Capital     1.00% by Edison Capital     1.00% by Edison Capital
                                         Housing Investments         Housing Investments         Housing Investments

                                                                     99.00% by Edison Funding
                                                                     Omicron Inc.






298



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          MHICAL 95 LP                MHIFED 96 LP                MHIFED 96A LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $25,739                     $1,079                      $281

  Revenues                               $131                        $3                          $1

  Net Income (Loss)                      ($1,877)                    ($97)                       ($21)


Ownership Interest(s):                   1.00% by Edison Capital     5.00% by Edison Capital     1.00% by Edison Capital
                                         Housing Investments         Housing Investments         Housing Investments

                                         99.00% by Edison Funding
                                         Omicron Inc.









Name of Entity:                          MHICAL 96 LP                MHIFED 97 LP                MHICAL 97 LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $3,606                      $0                          $427

  Revenues                               $25                         $0                          $1

  Net Income (Loss)                      ($889)                      $0                          ($89)


Ownership Interest(s):                   1.00% by Edison Capital     1.00% by Edison Capital     1.00% by Edison Capital
                                         Housing Investments         Housing Investments         Housing Investments

                                         99.00% by Edison Funding    99.00% by MHIFED 97         99.00% by MHICAL 97
                                         Omicron Inc.                Company                     Company





299



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Mid-Peninsula Century       Mid-Peninsula Sharmon       Mission Capp LP
                                         Village Assoc LP (Century   Palms Assoc LP (Sharmon
                                         Village)                    Palms)
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $7,152                      $2,649                      $5,086

  Revenues                               $802                        $223                        $408

  Net Income (Loss)                      ($253)                      ($66)                       ($237)


Ownership Interest(s):                   99.00% by Edison Funding    99.00% by Edison Capital    99.00% by Edison Funding
                                         Omicron Inc.                Housing Investments         Omicron Inc.











Name of Entity:                          Mission Housing Investors   Mission Housing             Monterra Village Assoc LP
                                         Partnership                 Partnership 1996 LP
---------------------------------------- --------------------------- --------------------------- ---------------------------


Equity Interest:

  Assets                                 $1,129                      $12,717                     $648

  Revenues                               $4                          $49                         $29

  Net Income (Loss)                      ($109)                      ($971)                      ($19)


Ownership Interest(s):                   5.00% by Mission Housing    1.00% by Edison Capital     99.00% by Edison Capital
                                         Theta                       Housing Investments         Housing Partners IX LP

                                                                     99.00% by Edison Funding
                                                                     Omicron Inc.




300



Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)




Name of Entity:                          Morgan Hill Ranch Housing   Morrone Gardens Assoc LP    Mountainlands Housing
                                         LP                                                      Partners LP (Holiday