.

NUCLEAR ELECTRIC INSURANCE LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN POLICYHOLDER’S SURPLUS

YEARS ENDED DECEMBER 31, 2001 AND 2000 (In thousands of U.S. Dollars)

Accumulated Other
Comprehensive Earnings (Loss)
Foreign
Currency Unrealized Reserve
Total Surplus Translation Gains (Losses) Fund

Balance, January 1, 2000 $4,139,676 $2,768,440 $(22,608) $1,393,594 $250

Comprehensive Loss
Net loss (180,588) (180,588) - 0 - - 0 - - 0 -
Other comprehensive loss
(net of income taxes) (331,326) - 0 - (24,053) (307,273) - 0 -

Comprehensive Loss (511,914) (180,588) (24,053) (307,273) - 0 -

Balance, December 31, 2000 3,627,762 2,587,852 (46,661) 1,086,321 250

Comprehensive (Loss) Earnings
Net income 5,228 5,228 - 0 - - 0 - - 0 -
Other comprehensive (loss) earnings
(net of income taxes) (413,789) - 0 - 975 (414,764) - 0 -

Comprehensive (Loss) Earnings (408,561) 5,228 975 (414,764) - 0 -

Balance, December 31, 2001 $3,219,201 $2,593,080 $(45,686) $671,557 $250

See notes to consolidated financial statements