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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      1
TIME: 20:59                  Property Tax Division                  RPT: UTL7000
                           2003 Property Value Study
                         Utilities Category Worksheet
                             ALBANY / 209-901-209
                              SHACKELFORD / 209

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    Company         ISD Appraised              PTD Market           Indicated
    Number              Value                    Value                Ratio
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     21003                262,500                  234,364           1.1201
     31009              3,044,475                3,211,347            .9480
     33005                803,270                  829,771            .9681
     41002              2,981,785                3,026,758            .9851
     41005                697,696                  725,422            .9618
     61032                 34,170                   45,612            .7491


   Totals:              7,823,896                8,073,274            .9691


            Utility Weighted Mean Ratio For Sample:                   .9691

            Total Self-Reported Utility Value (J1-J8):           17,934,346

            Divided By ISD Utility Weighted Mean Ratio:               .9691

            Estimated PTD Utility Market Value:                  18,506,187