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Results of operations adjusted for known subsidies

[Figures in parentheses are losses]

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Source: Pontotoc's annual reports to Tennessee Valley Authority with adjustments as follows: (a) Adjusted to include revenues from the "yardstick" rate only. (b) Adjusted

to include a proration of loss in Mississippi on power sales. (c) Adjusted to include a proration of Tennessee Valley Authority's promotional expenses.

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PRENTISS COUNTY ELECTRIC POWER ASSOCIATION

Results of operations as reported by Prentiss with subsequent deductions for known subsidies

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PRENTISS COUNTY ELECTRIC POWER ASSOCIATION-Continued

Results of operations as reported by Prentiss with subsequent deductions for known subsidies-Continued

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Source: Prentiss' annual reports to Tennessee Valley Authority with adjustments as follows: (a) Adjusted to include revenue from the "yardstick" rate only. (b) Adjusted

to include a proration of loss in Mississippi on power sales. (c) Adjusted to include a proration of Tennessee Valley Authority's promotional expenses.

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