During 2002

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The following information is from the SEC Form 10-k(as Amended) for the year ended December 31, 2002.

"During 2002, CMS Energy recorded $388 million of after-tax charges in recognition of planned and completed divestitures and reduced asset valuations. These included a $299 million after-tax impairment loss on the carrying value of DIG and $89 million of after-tax charges related to other investments and development projects in recognition of the reduced net recoverable value or sale of these investments. The $388 million after-tax charge is comprised of: $367 million for independent power production; $11 million for marketing, services and trading; and $10 million for Enterprises and other businesses. 2002 also reflects a $222 million after-tax loss related to the discontinuation of several businesses. These include Panhandle, the sale of which is pending regulatory approval and is currently expected to close in 2003, CMS Oil and Gas, which sale was completed in September 2002, and CMS Field Services and CMS Viron, which sales are expected to close in 2003. Included in the discontinued operations are after-tax goodwill impairments at Panhandle ($369 million) and CMS Viron ($10 million). 2002 also reflects $37 million of after-tax gains on asset sales and $21 million of after-tax restructuring charges.

CMS Energy's 2001 results reflect $408 million of after-tax charges in recognition of completed and planned divestitures and reduced asset valuations. These charges include a $210 million after-tax charge related to the discontinuation of certain CMS Energy businesses and a $198 million after-tax charge related to energy development projects and international investments in recognition of the reduced net recoverable value of these investments. Results of operations also includes a $2 million after-tax charge related to the cumulative effect of a change in accounting for derivatives.

In 2000, an impairment loss was recorded on the carrying amount of the equity investment in Loy Yang of $268 million after-tax. This loss does not include $168 million cumulative net foreign currency translation losses due to unfavorable changes in exchange rates, which, in accordance with SFAS No. 52 will not be realized until there has been a sale, full liquidation or other disposition of CMS Energy's investment in Loy Yang, all of which are currently being pursued but may not occur in 2003. In connection with the restatement of CMS Energy's December 31, 2000 consolidated financial statements, a deferred U.S. income tax asset of $48 million was recorded with respect to the cumulative net foreign currency translation losses associated with CMS Energy's Loy Yang investment (see Note 11, Income Taxes)."

"In January 2002, CMS Energy completed the sale of its ownership interests in Equatorial Guinea to Marathon Oil Company for approximately $993 million. Included in the sale were all of CMS Oil and Gas' oil and gas reserves in Equatorial Guinea and CMS 49 Gas Transmission's ownership interest in the related methanol plant. The gain on the CMS Oil and Gas Equatorial Guinea properties of $497 million ($310 million, net of tax) is included in discontinued operations."