<HTML> <HEAD> <TITLE></TITLE> </HEAD> <BODY bgcolor="#FFFFFF"> <!-- PAGEBREAK --> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <DIV align="left"> ________________________________________________________________________________ <HR size="1" width="100%" align="left"> </DIV> <P align="center"> <B><FONT size="4">SECURITIES AND EXCHANGE COMMISSION</FONT></B> <DIV align="center"> <B>Washington, D.C. 20549</B> </DIV> <P align="center"> <HR size="1" width="30%" align="center"> <P align="center"> <B><FONT size="5">FORM 10-Q</FONT></B> <P align="center"> <B><FONT size="4">QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)</FONT></B> <DIV align="center"> <B><FONT size="4">OF THE SECURITIES EXCHANGE ACT OF 1934</FONT> </B> </DIV> <P align="center"> <B>For the Quarter Ended March 31, 2000</B> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="31%"> </TD> <TD width="3%"> </TD> <TD width="41%"> </TD> <TD width="3%"> </TD> <TD width="22%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>Registrants; State of</B></FONT></TD> <TD></TD> <TD></TD> </TR> <TR> <TD align="center" nowrap><FONT size="2"><B>Commission</B></FONT></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>Incorporation; Address; and</B></FONT></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>I.R.S. Employer</B></FONT></TD> </TR> <TR> <TD align="center" nowrap><FONT size="2"><B>File Number</B></FONT></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>Telephone Number</B></FONT></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>Identification No.</B></FONT></TD> </TR> <TR> <TD align="center" nowrap><HR size="1"></TD> <TD></TD> <TD align="center" nowrap><HR size="1"></TD> <TD></TD> <TD align="center" nowrap><HR size="1"></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> 1-11607</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> DTE Energy Company<BR> (a Michigan corporation)<BR> 2000 2nd Avenue<BR> Detroit, Michigan 48226-1279<BR> 313-235-4000</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 38-3217752</FONT></TD> </TR> <TR> <TD colspan="5"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> 1-2198</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> The Detroit Edison Company<BR> (a Michigan corporation)<BR> 2000 2nd Avenue<BR> Detroit, Michigan 48226-1279<BR> 313-235-8000</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 38-0478650</FONT></TD> </TR> </TABLE> </CENTER> <P align="left"> Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. <DIV align="right"> <B>Yes <U>X</U> No <U> </U></B> </DIV> <P align="left"> At April 30, 2000, 142,660,170 shares of DTE Energy’s Common Stock, substantially all held by non-affiliates, were outstanding. <DIV align="center"> <HR size="1" width="100%" align="center"> </DIV> <DIV align="center"> <HR size="1" width="100%" align="center"> </DIV> <!-- PAGEBREAK --> <P><HR noshade><P> <!-- TOC --> <A name="toc"><DIV align="CENTER"><U><B>TABLE OF CONTENTS</B></U></DIV></A> <P><CENTER> <TABLE border="0" width="90%" cellpadding="0" cellspacing="0"> <TR> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="76%"></TD> </TR> <TR><TD colspan="9"><A HREF="#000">DEFINITIONS</A></TD></TR> <TR><TD colspan="9"><A HREF="#001">QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY</A></TD></TR> <TR><TD></TD><TD colspan="8"><A HREF="#002">PART I -- FINANCIAL INFORMATION</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#003">Item 1 -- Condensed Consolidated Financial Statements (Unaudited).</A></TD></TR> <TR><TD colspan="9"><A HREF="#004">Condensed Consolidated Statement of Cash Flows (Unaudited)</A></TD></TR> <TR><TD colspan="9"><A HREF="#005">QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY</A></TD></TR> <TR><TD></TD><TD colspan="8"><A HREF="#006">PART II -- OTHER INFORMATION</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#007">Item 5 -- Other Information.</A></TD></TR> <TR><TD colspan="9"><A HREF="#008">QUARTERLY REPORT ON FORM 10-Q FOR THE DETROIT EDISON COMPANY</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#009">Item 1 -- Condensed Consolidated Financial Statements (Unaudited).</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#010">Item 2 -- Management’s Discussion and Analysis of Financial Condition and Results of Operations.</A></TD></TR> <TR><TD></TD><TD colspan="8"><A HREF="#011">PART II -- OTHER INFORMATION</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#012">Item 1 -- Legal Proceedings.</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#013">Item 5 -- Other Information.</A></TD></TR> <TR><TD colspan="9"><A HREF="#014">QUARTERLY REPORTS ON FORM 10-Q FOR DTE ENERGY COMPANY AND THE DETROIT EDISON COMPANY</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#015">Item 6 -- Exhibits and Reports on Form 8-K.</A></TD></TR> <TR><TD colspan="9"><A HREF="#016">SIGNATURES</A></TD></TR> <TR><TD colspan="9"><A HREF="#017">SIGNATURES</A></TD></TR> <TR><TD colspan="9"><A HREF="#018">EXHIBIT INDEX</A></TD></TR> </TABLE> </CENTER> <!-- /TOC --> <P><HR noshade><P> <P align="center"><B>DTE ENERGY COMPANY</B> <DIV align="center"> <B>and</B> </DIV> <DIV align="center"> <B>THE DETROIT EDISON COMPANY</B> </DIV> <DIV align="center"> <B>FORM 10-Q</B> </DIV> <DIV align="center"> <B>For The Quarter Ended March 31, 2000</B> </DIV> <P align="left"> This document contains the Quarterly Reports on Form 10-Q for the quarter ended March 31, 2000 for each of DTE Energy Company and The Detroit Edison Company. Information contained herein relating to an individual registrant is filed by such registrant on its own behalf. Accordingly, except for its subsidiaries, The Detroit Edison Company makes no representation as to information relating to any other companies affiliated with DTE Energy Company. <P align="center"><B>TABLE OF CONTENTS</B> <CENTER> <TABLE width="60%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="84%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Page</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Definitions</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Quarterly Report on Form 10-Q for DTE Energy Company:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Part I — Financial Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 1 — Financial Statements</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">19</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 3 — Quantitative and Qualitative Disclosures About Market Risk</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">21</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Part II — Other Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">23</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 5 — Other Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">23</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Quarterly Report on Form 10-Q for The Detroit Edison Company:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Part I — Financial Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">24</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 1 — Financial Statements</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">24</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">24</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Part II — Other Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">24</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 1 — Legal Proceedings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">24</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 5 — Other Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">24</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Quarterly Reports on Form 10-Q for DTE Energy Company and The Detroit Edison Company:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 6 — Exhibits and Reports on Form 8-K</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">26</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Signature Page to DTE Energy Company Quarterly Report on Form 10-Q</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">31</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Signature Page to The Detroit Edison Company Quarterly Report on Form 10-Q</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">32</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "DEFINITIONS" --> <DIV align="left"><A NAME="000"></A></DIV> <DIV align="center"> <B>DEFINITIONS</B> </DIV> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="34%"> </TD> <TD width="3%"> </TD> <TD width="63%"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Annual Report</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 1999 Annual Report to the Securities and Exchange Commission on Form 10-K for DTE Energy Company or The Detroit Edison Company, as the case may be</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Annual Report Notes</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Notes to Consolidated Financial Statements appearing on pages 43 through 70 and 74 through 77 of the 1999 Annual Report to the Securities and Exchange Commission on Form 10-K for DTE Energy Company and The Detroit Edison Company, as the case may be</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> ABATE</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Association of Businesses Advocating Tariff Equity</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Company</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> DTE Energy Company and Subsidiary Companies</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Detroit Edison</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> The Detroit Edison Company (a wholly owned subsidiary of DTE Energy Company) and Subsidiary Companies</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> DTE Capital</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> DTE Capital Corporation (a wholly owned subsidiary of DTE Energy Company)</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Electric Choice</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Gives all retail customers equal opportunity to utilize the transmission system which results in access to competitive generation resources</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> EPA</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> United States Environmental Protection Agency</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> ERISA</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Employee Retirement Income Security Act</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> FERC</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Federal Energy Regulatory Commission</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> kWh</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Kilowatthour</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> MCN</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> MCN Energy Group Inc.</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> MPSC</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Michigan Public Service Commission</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> MW</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Megawatt</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> MWh</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Megawatthour</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Note(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Note(s) to Condensed Consolidated Financial Statements (Unaudited) appearing herein</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> PSCR</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Power Supply Cost Recovery</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Registrant</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Company or Detroit Edison, as the case may be</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">3 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY" --> <DIV align="left"><A NAME="001"></A></DIV> <DIV align="center"> <B>QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY</B> </DIV> <!-- link2 "PART I -- FINANCIAL INFORMATION" --> <DIV align="left"><A NAME="002"></A></DIV> <DIV align="center"> <B>PART I — FINANCIAL INFORMATION</B> </DIV> <P align="left"> <!-- link3 "Item 1 -- Condensed Consolidated Financial Statements (Unaudited)." --> <DIV align="left"><A NAME="003"></A></DIV> <DIV align="left"> <B>Item 1 — Condensed Consolidated Financial Statements (Unaudited).</B> </DIV> <P align="left"> The following condensed consolidated financial statements (unaudited) are included herein. <CENTER> <TABLE width="60%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="87%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Page</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> DTE Energy Company:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Balance Sheet</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Cash Flows</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">8</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Changes in Shareholders’ Equity</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> The Detroit Edison Company:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Balance Sheet</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Cash Flows</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">14</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Changes in Shareholder’s Equity</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">15</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Notes to Condensed Consolidated Financial Statements (Unaudited)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">16</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Independent Accountants’ Report</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">18</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P> <TABLE width="100%" border="0" cellpadding="0" cellspacing="0"> <TR> <TD width="5%"></TD> <TD width="95%"></TD> </TR> <TR valign="top"> <TD>Note: </TD> <TD align="left"> Detroit Edison’s Condensed Consolidated Financial Statements are presented here for ease of reference and are not considered to be part of Item I of the Company’s report.</TD> </TR> </TABLE> <P align="center">4 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>DTE Energy Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Income (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions, Except Per Share Amounts)</B> </DIV> <CENTER> <TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="72%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Three Months</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Ended</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>March 31</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>2000</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Operating Revenues</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,182</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,024</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Operating Expenses</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Fuel and purchased power</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">344</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">231</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Operation and maintenance</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">355</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">325</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">192</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">182</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Taxes other than income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">76</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">71</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total Operating Expenses</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">967</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">809</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Operating Income</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">215</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">215</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Interest Expense and Other</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Interest expense</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">83</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">83</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other — net</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total Interest Expense and Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">85</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">86</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Income Before Income Taxes</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">130</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">129</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Income Taxes</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">13</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">14</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Net Income</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">117</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">115</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Average Common Shares Outstanding</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Earnings per Common Share — Basic and Diluted</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">0.81</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">0.79</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">5 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>DTE Energy Company</B> <DIV align="center"> <B>Condensed Consolidated Balance Sheet (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions, Except Shares)</B> </DIV> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="61%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>March 31</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>December 31</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>2000</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>ASSETS</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Current Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Cash and cash equivalents</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">25</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">33</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Restricted cash</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">133</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">131</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Accounts receivable</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Customer (less allowance for doubtful accounts of $22 and $21,<BR> respectively)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">342</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">388</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued unbilled revenues</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">169</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">166</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">143</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">144</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Inventories (at average cost)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Fuel</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">168</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">175</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Materials and supplies</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">157</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">168</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Asset from risk management activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">109</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">67</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">114</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">38</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,360</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,310</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Investments</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Nuclear decommissioning trust funds</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">387</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">361</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">269</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">274</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">656</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">635</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Property</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Property, plant and equipment</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,817</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,755</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Property under capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">221</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">222</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Nuclear fuel under capital lease</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">702</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">663</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Construction work in progress</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">152</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">106</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,892</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,746</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> Less accumulated depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,671</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,598</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">7,221</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">7,148</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Regulatory Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,839</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,935</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Other Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">293</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">288</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> <B>Total Assets</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,369</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,316</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">6 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="64%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>March 31</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>December 31</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>2000</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>LIABILITIES AND SHAREHOLDERS’ EQUITY</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Current Liabilities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accounts payable</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">243</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">273</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued interest</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">49</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">57</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Dividends payable</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">75</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">75</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued payroll</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">80</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">97</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Short-term borrowings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">501</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">387</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Income taxes</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">101</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">61</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Current portion long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">95</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">270</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Current portion capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">104</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">75</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Liability from risk management activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">87</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">52</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">195</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">257</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,530</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,604</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Other Liabilities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Deferred income taxes</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,886</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,925</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">111</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">114</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Regulatory liabilities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">260</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">262</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">581</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">564</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,838</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,865</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Long-Term Debt</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4,120</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,938</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Shareholders’ Equity</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Common stock, without par value, 400,000,000 shares authorized, 142,660,170 and 145,041,324 issued and outstanding, respectively</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,918</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,950</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Retained earnings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,963</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,959</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,881</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,909</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Contingencies (Note 6)</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> <B>Total Liabilities and Shareholders’ Equity</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,369</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,316</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">7 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>DTE Energy Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Cash Flows (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions)</B> </DIV> <CENTER> <TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="71%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="2%"> </TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Three Months</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Ended</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>March 31</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>2000</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Operating Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Net Income</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">117</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">115</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Adjustments to reconcile net income to net cash from operating activities:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">192</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">182</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">22</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">30</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Changes in current assets and liabilities:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Restricted cash</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(11</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Accounts receivable</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">44</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">22</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Inventories</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">18</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">25</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Payables</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(63</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(50</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(148</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(175</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Net cash from operating activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">184</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">138</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Investing Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Plant and equipment expenditures</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(176</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(164</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Net cash used for investing activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(176</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(164</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Financing Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Issuance of long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">219</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Increase in short-term borrowings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">114</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">49</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Redemption of long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(212</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(37</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Repurchase of common stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(62</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Dividends on common stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(75</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(75</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Net cash used for financing activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(16</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(63</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Net Decrease in Cash and Cash Equivalents</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(8</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(89</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Cash and Cash Equivalents at Beginning of the Period</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">33</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">130</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Cash and Cash Equivalents at End of the Period</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">25</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">41</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Supplementary Cash Flow Information</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Interest paid (excluding interest capitalized)</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">91</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">84</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Income taxes paid</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">14</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">29</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> New capital lease obligations</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">40</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">8 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>DTE Energy Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Changes in Shareholders’ Equity (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions, Except Per Share Amounts; Shares in Thousands)</B> </DIV> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="70%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>2000</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Shares</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Amount</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Common Stock</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145,041</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,950</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Repurchase and retirement of common stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(2,381</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(32</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Balance at March 31, 2000</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">142,660</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,918</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Retained Earnings</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,959</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">117</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Dividends declared on common stock ($0.515 per share)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(75</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Repurchase and retirement of common stock</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(38</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Balance at March 31, 2000</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,963</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> <B>Total Shareholders’ Equity</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,881</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">9 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"> [This page intentionally left blank.] <P align="center">10 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>The Detroit Edison Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Income (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions)</B> </DIV> <CENTER> <TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="74%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="2%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Three Months</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Ended</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>March 31</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>2000</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Operating Revenues</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">949</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">911</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Operating Expenses</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Fuel and purchased power</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">229</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">206</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Operation and maintenance</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">240</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">237</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">182</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">173</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Taxes other than income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">75</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">71</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total Operating Expenses</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">726</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">687</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Operating Income</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">223</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">224</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Interest Expense and Other</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Interest expense</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">69</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">68</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other — net</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total Interest Expense and Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">73</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">71</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Income Before Income Taxes</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">150</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">153</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Income Taxes</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">53</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">49</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Net Income</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">97</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">104</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">11 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>The Detroit Edison Company</B> <DIV align="center"> <B>Condensed Consolidated Balance Sheet (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions, Except Per Share Amounts and Shares)</B> </DIV> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="61%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>March 31</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>December 31</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>2000</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>ASSETS</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Current Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Cash and cash equivalents</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">8</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Accounts receivable</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Customer (less allowance for doubtful accounts of $20)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">269</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">316</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued unbilled revenues</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">169</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">166</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">133</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">138</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Inventories (at average cost)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Fuel</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">168</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">175</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Materials and supplies</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">141</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">140</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">107</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">29</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">995</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">968</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Investments</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Nuclear decommissioning trust funds</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">387</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">361</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">31</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">34</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">418</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">395</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Property</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Property, plant and equipment</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,266</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,204</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Property under capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">221</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">221</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Nuclear fuel under capital lease</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">702</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">663</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Construction work in progress</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,195</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,092</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> Less accumulated depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,591</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,526</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6,604</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6,566</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Regulatory Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,839</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,935</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Other Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">191</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">187</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> <B>Total Assets</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,047</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,051</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">12 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="64%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>March 31</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>December 31</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>2000</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>LIABILITIES AND SHAREHOLDER’S EQUITY</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Current Liabilities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accounts payable</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">201</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">224</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued interest</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">39</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">54</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Dividends payable</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">80</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">80</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued payroll</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">79</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">90</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Short-term borrowings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">316</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">362</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Income taxes</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">158</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">84</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Current portion long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">19</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">194</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Current portion capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">104</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">75</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">129</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">159</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,125</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,322</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Other Liabilities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Deferred income taxes</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,844</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,879</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">111</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">114</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Regulatory liabilities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">260</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">262</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">578</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">562</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,793</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,817</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="11"> </TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Long-Term Debt</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,484</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,284</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Shareholder’s Equity</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Common stock, $10 par value, 400,000,000 shares authorized, 145,119,875 issued and outstanding</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,451</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,451</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Premium on common stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">548</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">548</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Common stock expense</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(48</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(48</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Retained earnings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,694</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,677</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,645</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,628</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Contingencies (Note 6)</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> <B>Total Liabilities and Shareholder’s Equity</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,047</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,051</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">13 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>The Detroit Edison Company</B> <!-- link1 "Condensed Consolidated Statement of Cash Flows (Unaudited)" --> <DIV align="left"><A NAME="004"></A></DIV> <DIV align="center"> <B>Condensed Consolidated Statement of Cash Flows (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions)</B> </DIV> <CENTER> <TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="71%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="2%"> </TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Three Months</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Ended</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>March 31</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>2000</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Operating Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Net Income</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">97</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">104</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Adjustments to reconcile net income to net cash from operating activities:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">182</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">173</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">58</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">47</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Changes in current assets and liabilities:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Accounts receivable</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">49</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">33</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Inventories</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">16</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Payables</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(49</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(43</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(108</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(178</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Net cash from operating activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">235</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">152</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Investing Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Plant and equipment expenditures</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(130</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(104</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Net cash used for investing activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(130</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(104</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Financing Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Issuance of long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">219</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> (Decrease) Increase in short-term borrowings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(46</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">49</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Redemption of long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(194</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(19</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Dividends on common stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(80</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(80</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Net cash used for financing activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(101</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(50</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Net Increase (Decrease) in Cash and Cash Equivalents</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(2</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Cash and Cash Equivalents at Beginning of the Period</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Cash and Cash Equivalents at End of the Period</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">8</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Supplementary Cash Flow Information</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Interest paid (excluding interest capitalized)</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">84</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">78</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Income taxes paid</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">16</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">26</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> New capital lease obligations</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">40</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">14 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>The Detroit Edison Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Changes in Shareholder’s Equity (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions, Except Per Share Amounts; Shares in Thousands)</B> </DIV> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="73%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>2000</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Shares</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Amount</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> <B>Common Stock</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145,120</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,451</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at March 31, 2000</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145,120</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,451</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> <B>Premium on Common Stock</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">548</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at March 31, 2000</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">548</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> <B>Common Stock Expense</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(48</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at March 31, 2000</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(48</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> <B>Retained Earnings</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,677</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">97</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Dividends declared on common stock ($0.55 per share)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(80</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at March 31, 2000</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,694</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> <B>Total Shareholder’s Equity</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,645</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">15 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><B>DTE Energy Company and The Detroit Edison Company</B> <DIV align="left"> <B>Notes to Condensed Consolidated Financial Statements (Unaudited)</B> </DIV> <P align="left"><B>NOTE 1 — ANNUAL REPORT NOTES</B> <P align="left"> These condensed consolidated financial statements (unaudited) should be read in conjunction with the Annual Report Notes. The Notes contained herein update and supplement matters discussed in the Annual Report Notes. <P align="left"> The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. <P align="left"> The condensed consolidated financial statements are unaudited, but in the opinion of the Company and Detroit Edison, with respect to its own financial statements, include all adjustments necessary for a fair statement of the results for the interim periods. Financial results for this interim period are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year. <P align="left"> Certain prior year balances have been reclassified to conform to the current year’s presentation. <P align="left"><B>NOTE 2 — MERGER AGREEMENT</B> <P align="left"> On October 4, 1999, the Company entered into a definitive merger agreement with MCN. MCN, a Michigan corporation, is primarily involved in natural gas production, gathering, processing, transmission, storage and distribution, electric power generation and energy marketing. MCN’s largest subsidiary is Michigan Consolidated Gas Company, a natural gas utility serving 1.2 million customers in more than 500 communities throughout Michigan. Shareholders of the Company have approved the issuance of the necessary shares of common stock to complete the merger and shareholders of MCN have approved the Agreement and Plan of Merger. The merger is also subject to a number of regulatory approvals and other agreed upon conditions. Discussions continue with the Federal Trade Commission and a final closing date cannot be determined with certainty. <P align="left"><B>NOTE 3 — SHAREHOLDERS’ EQUITY</B> <P align="left"> The Company’s board of directors has authorized the repurchase of up to 10 million common shares, with the current program tentatively set to not exceed $100 million. Stock purchases are made from time to time on the open market or through negotiated transactions. All common stock repurchased will be canceled. During the first quarter of 2000, the Company repurchased approximately 2.3 million shares at an aggregate cost of approximately $70 million. <P align="left"><B>NOTE 4 — SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS </B> <P align="left"> At March 31, 2000, Detroit Edison had total short-term credit arrangements of approximately $496 million under which $116 million of commercial paper was outstanding. Additionally, Detroit Edison had a $200 million trade receivables sales agreement under which $200 million was outstanding at March 31, 2000. <P align="left"> At March 31, 2000, DTE Capital had $185 million of commercial paper outstanding. A $400 million short-term credit arrangement, backed by a Support Agreement from the Company, provided credit support for this commercial paper. <P align="left"> During the first quarter, plans were announced to discontinue DTE Capital’s operations. At March 31, 2000, the Company had assumed all $165 million of DTE Capital’s outstanding guarantees of various affiliate obligations. The remainder of DTE Capital’s financial obligations are expected to be assumed by the Company. <P align="left"><B>NOTE 5 — FINANCIAL INSTRUMENTS</B> <P align="left"> The Company has entered into a series of forward starting interest rate swaps and Treasury locks in order to limit the Company’s sensitivity to interest rate fluctuations associated with its anticipated issuance of long-term debt to be used to finance the merger with MCN. The Company expects to issue this debt <P align="center">16 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <DIV align="left"> subsequent to the merger. At March 31, 2000, the Company had two classes of derivative financial instruments used to hedge the anticipated issuance of long-term debt, which include $250 million notional and $450 million notional in 5-year and 10-year forward starting swaps, respectively, and $150 million notional 30-year Treasury locks. The weighted average interest rate for the 5-year, 10-year and 30-year instruments are 7.5%, 7.56% and 6.24%, respectively. At March 31, 2000, the fair value of these derivative financial instruments indicated an unrealized loss of approximately $15 million. The unrealized loss is not reflected in the financial statements at March 31, 2000, but would be recognized as a deferred item upon issuance of the anticipated long-term debt. The deferred item would be amortized through interest expense over the life of the associated long-term debt as a yield adjustment. At May 11, 2000, the fair value of these derivative financial instruments indicated an unrealized gain of approximately $8.5 million. </DIV> <P align="left"><B>NOTE 6 — CONTINGENCIES</B> <P align="left"> As discussed in the Company’s Annual Report, in July 1999, the ABATE made a filing with the MPSC indicating that Detroit Edison’s retail rates produce approximately $333 million of excess revenues. Of this amount, approximately $202 million is related to ABATE’s proposed reversal of the December 28, 1998 MPSC Order authorizing the accelerated amortization of Fermi 2. On March 17, 2000, the Administrative Law Judge issued his Proposal for Decision (PFD) recommending that Detroit Edison’s rates be reduced by $101.6 million. Of this amount, $14.9 million is associated with the expiration of the storm damage amortization which has already been reflected in rates effective January 1, 2000. The PFD recommended lowering Detroit Edison’s authorized return on equity to 10.5% from 11.0%. The PFD rejected ABATE’s proposal, also supported by the Michigan Attorney General, to reverse the December 28, 1998 Fermi 2 Amortization Order. A final order has yet to be issued by the MPSC. The Company is unable to predict the outcome of this proceeding. <P align="left"><B>NOTE 7 — SEGMENT AND RELATED INFORMATION</B> <P align="left"> The Company’s reportable business segment is its electric utility, Detroit Edison, which is engaged in the generation, purchase, transmission, distribution and sale of electric energy in a 7,600 square mile area in Southeastern Michigan. All Other includes non-regulated energy-related businesses and services, which develop and manage electricity and other energy-related projects, and engage in domestic energy trading and marketing. Inter-segment revenues are not material. Income taxes are allocated based on intercompany tax sharing agreements, which generally allocate the tax benefit of alternative fuels tax credits and accelerated depreciation to the respective subsidiary, without regard to the subsidiary’s own net income or whether such tax benefits are realized by the Company. Financial data for business segments are as follows: <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="48%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="1%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Electric</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>All</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Reconciliations</B></FONT></TD> <TD></TD> <TD colspan="3"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Utility</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Other</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>and Eliminations</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Consolidated</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD colspan="15"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="15"><FONT size="2"><B>(Millions)</B></FONT></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Three Months Ended March 31, 2000</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Operating revenues</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">949</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">233</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,182</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">97</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">22</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(2</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">117</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Three Months Ended March 31, 1999</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Operating revenues</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">911</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">113</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,024</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">104</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">14</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(3</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">115</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> <HR size="1" width="30%" align="center"> <P align="left"> This Quarterly Report on Form 10-Q, including the report of Deloitte & Touche LLP (on page 18) will automatically be incorporated by reference in the Prospectuses constituting part of the Registration Statements on Form S-3 (Registration Nos. 33-53207, 33-64296 and 333-65765) of The Detroit Edison Company and Form S-8 (Registration No. 333-00023), Form S-4 (Registration No. 333-89175) and Form S-3 (Registration No. 33-57545) of DTE Energy Company, filed under the Securities Act of 1933. Such report of Deloitte & Touche LLP, however, is not a “report” or “part of the Registration Statement” within the meaning of Sections 7 and 11 of the Securities Act of 1933 and the liability provisions of Section 11(a) of such Act do not apply. <P align="center">17 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><B>Independent Accountants’ Report</B> <P align="left"> To the Board of Directors and Shareholders of DTE Energy Company and <DIV align="left"> The Detroit Edison Company </DIV> <P align="left"> We have reviewed the accompanying condensed consolidated balance sheets of DTE Energy Company and subsidiaries and of The Detroit Edison Company and subsidiaries as of March 31, 2000, and the related condensed consolidated statements of income and cash flows for the three-month periods ended March 31, 2000 and 1999, and the condensed consolidated statements of changes in shareholders’ equity for the three-month period ended March 31, 2000. These financial statements are the responsibility of DTE Energy Company’s management and of The Detroit Edison Company’s management. <P align="left"> We conducted our reviews in accordance with standards established by the American Institute of Certified Public Accountants. A review of interim financial information consists principally of applying analytical procedures to financial data and of making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with auditing standards generally accepted in the United States of America, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. <P align="left"> Based on our reviews, we are not aware of any material modifications that should be made to such condensed consolidated financial statements for them to be in conformity with accounting principles generally accepted in the United States of America. <P align="left"> We have previously audited, in accordance with auditing standards generally accepted in the United States of America, the consolidated balance sheets of DTE Energy Company and subsidiaries and of The Detroit Edison Company and subsidiaries as of December 31, 1999, and the related consolidated statements of income, changes in shareholders’ equity, and cash flows for the year then ended (not presented herein); and in our report dated January 26, 2000, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying condensed consolidated balance sheets as of December 31, 1999 is fairly stated, in all material respects, in relation to the consolidated balance sheets from which it has been derived. <P align="left"> DELOITTE & TOUCHE LLP <P align="left"> Detroit, Michigan <BR> May 12, 2000 <P align="center">18 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <DIV> </DIV> <TABLE width="100%" border="0" cellpadding="0" cellspacing="0"> <TR> <TD width="7%"></TD> <TD width="93%"></TD> </TR> <TR valign="top"> <TD><B>Item 2 — </B></TD> <TD> <B>Management’s Discussion and Analysis of Financial Condition and Results of Operations.</B></TD> </TR> </TABLE> <P align="left"> This analysis for the three months ended March 31, 2000, as compared to the same period in 1999, should be read in conjunction with the condensed consolidated financial statements (unaudited), the accompanying Notes, and the Annual Report Notes. <P align="left"> Detroit Edison is the principal operating subsidiary of the Company and, as such, unless otherwise identified, this discussion explains material changes in results of operations of both the Company and Detroit Edison and identifies recent trends and events affecting both the Company and Detroit Edison. <P align="left"><B>GROWTH</B> <P align="left"> As discussed in the Annual Report, in order to sustain earnings growth with an objective of 6% growth annually, the Company and Detroit Edison have developed a business strategy focused on core competencies, consisting of expertise in developing, managing and operating energy assets, including coal sourcing, blending and transportation skills. <P align="left"> As discussed in Note 2, the Company and MCN have entered into a merger agreement. The Company expects that completion of the merger will result in the issuance of approximately 30 million shares of its common stock and approximately $1.4 billion in external financing. The merger is expected to create a fully integrated electric and natural gas company that is expected to strongly support the Company’s commitment to a long-term earnings growth rate of 6%. The merger is expected to permit the Company to be responsive to competitive pressures. The external financing needs of the merger may create a sensitivity to interest rate changes; and the Company will need to successfully integrate the two operations in order to be able to service the expected debt requirements and achieve aggregate operating cost reductions. See Note 5 for further discussion of the financial instruments used to hedge the interest rate risk associated with financing the merger. <P align="left"><B>ELECTRIC INDUSTRY RESTRUCTURING</B> <P align="left"> Various bills have been introduced and proposed for introduction at the federal level and in the Michigan Legislature addressing competition in the electric markets. The Company and Detroit Edison are reviewing these bills and continue to work with the parties involved to develop proposals that are fair for the Company and its shareholders. While the impacts of the adoption and implementation of one or more of these legislative proposals are unknown, they may include generation divestiture, securitization, and possible reductions in rates and earnings. In the meantime, Detroit Edison is voluntarily proceeding with the implementation of Electric Choice as provided for in MPSC Orders and pursuing the recovery of stranded costs. <P align="left"> Michigan Governor John Engler has proposed Michigan electric restructuring legislation. If adopted, this legislation would allow for the full and immediate recovery of Detroit Edison’s stranded costs through securitization. The series of bills proposed by the Governor include a rate reduction. The Governor has indicated his intent to seek the adoption of this legislation by June 2000. <P align="left"><B>LIQUIDITY AND CAPITAL RESOURCES</B> <P align="left"><B>Cash From Operating Activities</B> <P align="left"> Net cash from operating activities increased due primarily to decreases in accounts receivable and changes in other current assets and liabilities. <P align="left"><B>Cash Used for Investing Activities</B> <P align="left"> Net cash used for investing activities was higher due to increased plant and equipment expenditures. <P align="left"><B>Cash Used for Financing Activities</B> <P align="left"> Net cash used for financing activities was lower for the Company due primarily to increased short-term borrowings, partially offset by the redemption of common stock. <P align="left"> Net cash used for financing activities was higher for Detroit Edison due primarily to decreased short-term borrowings. <P align="center">19 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><B>RESULTS OF OPERATIONS</B> <P align="left"> For the three months ended March 31, 2000, the Company’s net income was $117 million, or $0.81 per common share, compared to $115 million, or $0.79 per common share for the three months ended March 31, 1999. <P align="left"> The 2000 three-month earnings were higher than 1999 due to increased earnings resulting from increased utilization of tax credits generated by non-regulated businesses and increased electric system sales in the commercial and industrial sectors, partially offset by costs related to the acquisition of MCN. <P align="left"><B>Operating Revenues</B> <P align="left"> Operating revenues were $1.18 billion, up approximately 15% from 1999 operating revenues of $1.02 billion. Operating revenues increased (decreased) due to the following: <CENTER> <TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> <TD width="3%"> </TD> <TD width="7%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>2000</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>(Millions)</B></FONT></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Detroit Edison</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Rate change</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> System sales volume and mix</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">36</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Wholesale sales</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(7</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other — net</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total Detroit Edison</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">38</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Non-regulated</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> DTE Energy Resources</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">26</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> DTE Energy Trading</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">99</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other — net</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(5</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total Non-Regulated</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">120</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Total</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">158</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="left"> Detroit Edison kWh sales increased (decreased) as compared to the prior year as follows: <CENTER> <TABLE width="60%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="86%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Three</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Months</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Residential</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(0.1</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)%</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Commercial</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3.3</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Industrial</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11.6</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other (includes primarily sales for resale)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3.8</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total System</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4.7</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Sales between utilities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(58.4</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(0.5</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> </TABLE> </CENTER> <P align="left"><B>Operating Expenses</B> <P align="left"><I>Fuel and Purchased Power</I> <P align="left"> Fuel and purchased power expense increased for the Company due primarily to non-regulated subsidiary expenses, principally energy trading operations. Detroit Edison fuel and purchased power expense increased due to increased purchases of higher cost power and higher system output. The increased costs are partially offset by lower coal generation due to increased plant maintenance and decreased usage of high cost gas and oil generation units. <P align="center">20 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> System output and average fuel and purchased power unit costs for Detroit Edison were as follows: <CENTER> <TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="73%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Three Months</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>2000</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>(Thousands of</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>MWh)</B></FONT></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Power plant generation</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fossil</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9,856</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10,474</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Nuclear</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,389</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,399</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Purchased power</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,972</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,331</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> System output</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">14,217</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">14,024</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Average unit cost ($/ MWh)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Generation</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12.72</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12.34</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Purchased power</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">28.98</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">25.01</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="left"><I>Operation and Maintenance</I> <P align="left"> The Company’s operation and maintenance expenses were higher by $30 million. Higher non-regulated expenses of $27 million were due primarily to an increased level of operations. Higher Detroit Edison expenses of $3 million were due primarily to increased system and customer enhancements ($8 million), costs associated with the pending MCN merger ($6 million), generation reliability and maintenance ($3 million), and other expenses ($4 million), partially offset by Year 2000 testing and remediation expenses included last year ($18 million). <P align="left"><I>Depreciation and Amortization</I> <P align="left"> Depreciation and amortization expense was higher due to higher levels of plant in service and the accelerated amortization of unamortized nuclear costs. <P align="left"><B>Income Taxes</B> <P align="left"> Income tax expense for the Company decreased due primarily to increased utilization of alternate fuels credits generated from non-regulated businesses. <P align="left"><B>FORWARD-LOOKING STATEMENTS</B> <P align="left"> Certain information presented herein is based on the expectations of the Company and Detroit Edison, and, as such, is forward-looking. The Private Securities Litigation Reform Act of 1995 encourages reporting companies to provide analyses and estimates of future prospects and also permits reporting companies to point out that actual results may differ from those anticipated. <P align="left"> Actual results for the Company and Detroit Edison may differ from those expected due to a number of variables including, but not limited to, interest rates, the level of borrowings, weather, actual sales, the effects of competition and the phased-in implementation of Electric Choice, the implementation of utility restructuring in Michigan (which involves pending and proposed regulatory and legislative proceedings, the recovery of stranded costs, and possible reductions in rates and earnings), environmental and nuclear requirements, the impact of FERC proceedings and regulations, and the success of non-regulated lines of business. In addition, expected results will be affected by the Company’s pending merger with MCN. While the Company and Detroit Edison believe that estimates given accurately measure the expected outcome, actual results could vary materially due to the variables mentioned, as well as others. <P align="left"><B>Item 3 — Quantitative and Qualitative Disclosures About Market Risk.</B> <P align="left"><I>Interest Rate Risk</I> <P align="left"> The Company is subject to interest rate risk in conjunction with the anticipated issuance of long-term debt to be used to finance the merger with MCN. The Company’s exposure to interest rate risk arises from market fluctuations in interest rates until the date of the anticipated debt issuance. In order to limit the sensitivity to interest rate fluctuations, the Company has entered into a series of forward starting <P align="center">21 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <DIV align="left"> interest rate swaps and Treasury locks. See Note 5 for further discussion of these derivative financial instruments. </DIV> <P align="left"> A sensitivity analysis model was used to calculate the fair values of the Company’s derivative financial instruments, utilizing applicable market interest rates in effect at March 31, 2000. The sensitivity analysis involved increasing and decreasing the market rates by a hypothetical 10% and calculating the resulting change in the fair values of the interest rate sensitive instruments. The favorable (unfavorable) changes in fair value are as follows: <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="66%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Assuming</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Assuming</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>A 10%</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>A 10%</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Increase in</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Decrease in</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Rates</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Rates</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>(Millions)</B></FONT></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Interest Rate Risk</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Interest Rate Sensitive</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Forward Starting Swap — 5-year</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9.1</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(5.9</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> — 10-year</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">26.4</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(17.2</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Treasury Lock — 30-year</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">14.3</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(10.7</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">22 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY" --> <DIV align="left"><A NAME="005"></A></DIV> <DIV align="center"> <B>QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY</B> </DIV> <!-- link2 "PART II -- OTHER INFORMATION" --> <DIV align="left"><A NAME="006"></A></DIV> <DIV align="center"> <B>PART II — OTHER INFORMATION</B> </DIV> <P align="left"> <!-- link3 "Item 5 -- Other Information." --> <DIV align="left"><A NAME="007"></A></DIV> <DIV align="left"> <B>Item 5 — Other Information.</B> </DIV> <P align="left"> Effective March 22, 2000 and April 14, 2000, Theodore J. Vogel was elected Vice President and Assistant Controller, respectively, of the Company and Detroit Edison. From 1997 to 2000, he was Vice President — Taxes and Tax Counsel of CMS Energy Corporation. He previously served as Director of Corporate Taxes and Tax Counsel from 1987 to 1997. <P align="left"> David E. Meador has been elected Senior Vice President and Treasurer effective May 15, 2000. <P align="center">23 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "QUARTERLY REPORT ON FORM 10-Q FOR THE DETROIT EDISON COMPANY" --> <DIV align="left"><A NAME="008"></A></DIV> <DIV align="center"> <B>QUARTERLY REPORT ON FORM 10-Q FOR THE DETROIT EDISON COMPANY </B> </DIV> <DIV align="center"> <B>PART I — FINANCIAL INFORMATION</B> </DIV> <P align="left"> <!-- link3 "Item 1 -- Condensed Consolidated Financial Statements (Unaudited)." --> <DIV align="left"><A NAME="009"></A></DIV> <DIV align="left"> <B>Item 1 — Condensed Consolidated Financial Statements (Unaudited).</B> </DIV> <P align="left"> See pages 11 through 15. <P align="left"> <!-- link3 "Item 2 -- Management’s Discussion and Analysis of Financial Condition and Results of Operations." --> <DIV align="left"><A NAME="010"></A></DIV> <DIV align="left"> <B>Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations.</B> </DIV> <P align="left"> See the Company’s and Detroit Edison’s “Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations,” which is incorporated herein by reference. <P align="left"> <!-- link2 "PART II -- OTHER INFORMATION" --> <DIV align="left"><A NAME="011"></A></DIV> <DIV align="center"> <B>PART II — OTHER INFORMATION</B> </DIV> <P align="left"> <!-- link3 "Item 1 -- Legal Proceedings." --> <DIV align="left"><A NAME="012"></A></DIV> <DIV align="left"> <B>Item 1 — Legal Proceedings.</B> </DIV> <P align="left"> On February 25, 2000, <I>Ricci, et al</I> v. <I>Detroit Edison</I> was filed in the U.S. Federal District Court for the Eastern District of Michigan. The complaint alleges that Detroit Edison employees formerly employed by contractors of Detroit Edison should be treated as if they are entitled to various retirement benefits under ERISA and other benefits that have been available to Detroit Edison employees. The complaint also seeks class action certification. Detroit Edison believes this matter is without merit. <P align="left"> As discussed in Item 3 — Legal Proceedings of Detroit Edison’s Annual Report, a lawsuit pending in the Circuit Court for Wayne County, Michigan <I>(Coch, et al</I> v. <I>Detroit Edison)</I> seeks class action certification for claims of employment-related sex, gender and race discrimination and harassment. In March 2000, <I>Lotharp, et al</I> v. <I> Detroit Edison</I> was filed in the Circuit Court for Wayne County, Michigan claiming that certain of Detroit Edison’s employment testing programs discriminated against African American, women and race/ethnic applicants, with Plaintiffs seeking to represent such group. A hearing on the Coch request for class action certification has not yet been held. Detroit Edison believes that the claims made in both lawsuits are without merit and that class action certification is not appropriate. <P align="left"> <!-- link3 "Item 5 -- Other Information." --> <DIV align="left"><A NAME="013"></A></DIV> <DIV align="left"> <B>Item 5 — Other Information.</B> </DIV> <P align="left"> On February 8, 2000, Detroit Edison filed a capacity plan with the MPSC outlining its plans assessing its generation and transmission capacity for the summer and identified its plans for meeting the demand of its electric customers. The plan indicated that Detroit Edison has added additional generating capacity since the beginning of last summer, that DTE River Rouge Unit No. 1, LLC (DTE River Rouge) will refurbish River Rouge Unit No. 1, that Detroit Edison has acquired firm transmission capacity within the region, and that it plans to purchase approximately 2,100 MW of additional capacity from other suppliers. <P align="left"> On March 6, 2000, DTE River Rouge filed for Exempt Wholesale Generator (EWG) status with the FERC. On April 11, 2000, the FERC approved this request. Additionally, DTE River Rouge filed for approval from the FERC to sell energy and capacity from DTE River Rouge at market based rates, and requested expedited consideration by the FERC. On March 27, 2000, Nordic Electric protested the request, alleging that the Company and certain affiliates are engaging in practices that deter competition. On April 27, 2000, DTE River Rouge filed an answer denying the claims made by Nordic Electric. <P align="left"> On March 31, 2000, Nordic Electric filed a complaint with the FERC against Detroit Edison, DTE Energy, DTE River Rouge, and DTE Energy Trading alleging that the Company is hoarding transmission capacity, that the pending merger with MCN may increase its market power, and that the transfer of facilities by Detroit Edison to DTE River Rouge is illegal under Section 203 of the Federal Power Act. On April 14, 2000, the Company and certain affiliates filed an answer and a motion to dismiss the complaint. <P align="left"> On March 14, 2000, the MPSC approved a settlement agreement that provides for a program of system improvements designed to address areas in Detroit Edison’s service territory that have been subject to severe storm damage and multiple outages. Detroit Edison will undertake improvement projects on specific circuits. <P align="left"> On May 1, 2000, the MPSC Staff issued a report proposing electric distribution performance standards that would apply to Michigan utilities including Detroit Edison. The Staff indicated that these proposed standards represent achievable goals within current utility rates. The Staff proposed that quarterly reports be filed with the MPSC and that a twelve-month rolling average of data will be used to determine <P align="center">24 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <DIV align="left"> compliance with the standards. If the rolling average is not met, Staff recommends, after notice and hearing, that reductions in rates be imposed for a period of time equal to the time of non-compliance or until the non-compliance is corrected. The amount or reductions would be equal to 1 mill/kwh for all energy sold, or a minimum of $1 per customer per month. </DIV> <P align="left"> On March 31, 2000, Detroit Edison filed for reconciliation of its MPSC jurisdictional 1999 PSCR revenues and expenses. Detroit Edison, in a filing on April 28, 2000, indicated that an over recovery of $12.2 million, including interest, existed, and when coupled with a Fermi 2 performance standard credit of $19.0 million, a net amount of $31.2 million should be refunded to customers. This refund was accrued for in a prior year. <P align="left"> On March 31, 2000, Detroit Edison filed with the MPSC for recovery of $21 million of costs incurred in 1999 that were associated with the implementation of the Electric Choice program. Detroit Edison continues to estimate that expenditures of up to $120 million may be required through 2001 to fully implement the program. <P align="left"> On April 5, 2000, Energy Michigan filed with the MPSC to reopen the Fermi 2 Amortization case, raising similar issues that Nordic Electric raised in the complaint filed at the FERC. Energy Michigan alleges that Detroit Edison has violated its commitment to implement Electric Choice, and requests that a hearing be conducted before the full MPSC. Energy Michigan alleges that Detroit Edison is monopolizing available electric import capability from other United State utilities, and is refusing to allow Nordic Electric to import electric supplies from Ontario Hydro. Detroit Edison believes that the allegations are without merit. <P align="left"> On April 15, 2000, First Chicago Trust Company of New York was appointed Trustee under the Detroit Edison Mortgage and Deed of Trust and Bank One Trust Company, National Association was appointed Trustee under the Detroit Edison Collateral Note Indenture. <P align="left"> On May 6, 2000, Detroit Edison filed an application with the FERC to create a new wholly owned transmission subsidiary. The filing requests FERC authorization for transfer of Detroit Edison’s transmission system (net book value of approximately $400 million) into the new subsidiary. Upon approval by FERC, Detroit Edison will transfer 100 percent ownership interest in substantially all of its integrated transmission business assets and facilities with voltage ratings of 120 kilovolts (kV) or above to the transmission subsidiary. The new company will also take over Detroit Edison’s responsibilities related to open access transmission service. <P align="center">25 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "QUARTERLY REPORTS ON FORM 10-Q FOR DTE ENERGY COMPANY AND THE DETROIT EDISON COMPANY" --> <DIV align="left"><A NAME="014"></A></DIV> <DIV align="center"> <B>QUARTERLY REPORTS ON FORM 10-Q FOR</B> </DIV> <DIV align="center"> <B>DTE ENERGY COMPANY AND THE DETROIT EDISON COMPANY</B> </DIV> <P align="left"> <!-- link3 "Item 6 -- Exhibits and Reports on Form 8-K." --> <DIV align="left"><A NAME="015"></A></DIV> <DIV align="left"> <B>Item 6 — Exhibits and Reports on Form 8-K. </B> </DIV> <P align="left"> (a) Exhibits <P align="left"> (i) Exhibits filed herewith. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Exhibit</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Number</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4-206</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Supplemental Indenture, dated as of April 15, 2000, appointing First Chicago Trust Company of New York as Trustee under the Detroit Edison Mortgage and Deed of Trust, dated as of October 1, 1924.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4-207</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Eighth Supplemental Indenture, dated as of April 15, 2000, appointing Bank One Trust Company of New York as Trustee under the Detroit Edison Trust Indenture (Notes), dated as of June 30, 1993.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">10- 34</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">*</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> 2000 Executive Incentive Plan Measures.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">10- 35</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">*</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Amended and Restated Executive Incentive Plan.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">10- 36</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">*</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Detroit Edison Long-Term Incentive Plan, as amended through February 22, 2000.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">10- 37</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">*</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> 2000 Long-Term Incentive Plan Measures.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">10- 38</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">*</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Certain arrangements pertaining to the employment of Theodore J. Vogel.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">11-18</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> DTE Energy Company Basic and Diluted Earnings Per Share of Common Stock.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">12-22</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> DTE Energy Company Computation of Ratio of Earnings to Fixed Charges.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">12-23</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> The Detroit Edison Company Computation of Ratio of Earnings to Fixed Charges.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">15-13</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Awareness Letter of Deloitte & Touche LLP regarding their report dated May 12, 2000.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-33</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Financial Data Schedule for the period ended March 31, 2000 for DTE Energy Company.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-34</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Financial Data Schedule for the period ended March 31, 2000 for The Detroit Edison Company.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99-33</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment, dated as of April 5, 2000, to Third Amended and Restated Credit Agreement, dated as of January 18, 2000 among DTE Capital Corporation, certain Lenders, Citibank, N.A., as Agent, and ABN AMRO Bank N.V., Bank One, N.A., Barclays Bank PLC, Bayerische Landesbank Girozertrale, Cayman Islands Branch, Comerica Bank and Den Daske Bank Aktieselskab, as Co-Agents.</FONT></TD> </TR> </TABLE> </CENTER> <P align="left"> (ii) Exhibits incorporated herein by reference. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">2</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Agreement and Plan of Merger, among DTE Energy, MCN Energy Group, Inc. and DTE Enterprises, Inc., dated as of October 4, 1999 and amended as of November 12, 1999. (Exhibit 2-1 to Form 10-K for the year ended December 31, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Amended and Restated Articles of Incorporation of DTE Energy Company Energy Company dated December 13, 1995. (Exhibit 3-5 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Certificate of Designation of Series A Junior Participating Preferred Stock of DTE Energy Company. (Exhibit 3-6 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Restated Articles of Incorporation of Detroit Edison, as filed December 10, 1991 with the State of Michigan, Department of Commerce — Corporation and Securities Bureau (Exhibit 3-13 to Form 10-Q for quarter ended June 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Articles of Incorporation of DTE Enterprises, Inc. (Exhibit 3.5 to Registration No. 333-89175.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Rights Agreement, dated as of September 23, 1997, by and between DTE Energy Company and The Detroit Edison Company, as Rights Agent (Exhibit 4-1 to DTE Energy Company Current Report on Form 8-K, dated September 23, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Agreement and Plan of Exchange (Exhibit 1(2) to DTE Energy Form 8-B filed January 2, 1996, File No. 1-11607.)</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">26 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Bylaws of DTE Energy Company, as amended through September 22, 1999. (Exhibit 3-3 to Registration No. 333-89175.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(h)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Bylaws of The Detroit Edison Company, as amended through September 22, 1999. (Exhibit 3-14 to Form 10-Q for quarter ended September 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(i)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Bylaws of DTE Enterprises, Inc. (Exhibit 3.6 to Registration No. 333-89175.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Mortgage and Deed of Trust, dated as of October 1, 1924, between Detroit Edison (File No. 1-2198) and Bankers Trust Company as Trustee (Exhibit B-1 to Registration No. 2-1630) and indentures supplemental thereto, dated as of dates indicated below, and filed as exhibits to the filings as set forth below:</FONT></TD> </TR> </TABLE> </CENTER> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="3%"> </TD> <TD width="18%"> </TD> <TD width="3%"> </TD> <TD width="61%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> September 1, 1947</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit B-20 to Registration No. 2-7136</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> November 15, 1971</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 2-B-38 to Registration No. 2-42160</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> January 15, 1973</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 2-B-39 to Registration No. 2-46595</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> June 1, 1978</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 2-B-51 to Registration No. 2-61643</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> June 30, 1982</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-30 to Registration No. 2-78941</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> August 15, 1982</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-32 to Registration No. 2-79674</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> October 15, 1985</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-170 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> November 30, 1987</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-139 to Form 10-K for year ended December 31, 1992</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> July 15, 1989</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-171 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> December 1, 1989</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-172 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> February 15, 1990</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-173 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> April 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-15 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> November 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-181 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> January 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-182 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> February 29, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-187 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> April 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-188 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> July 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-189 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> July 31, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-190 to Form 10-Q for quarter ended September 30, 1992</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> January 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-131 to Registration No. 33-56496</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> March 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-191 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> March 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-192 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> April 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-143 to Form 10-Q for quarter ended March 31, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> April 26, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-144 to Form 10-Q for quarter ended March 31, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> May 31, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-148 to Registration No. 33-64296</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-149 to Form 10-Q for quarter ended June 30, 1993 (1993 Series AP)</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-150 to Form 10-Q for quarter ended June 30, 1993 (1993 Series H)</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> September 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-158 to Form 10-Q for quarter ended September 30, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> March 1, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-163 to Registration No. 33-53207</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> June 15, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-166 to Form 10-Q for quarter ended June 30, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> August 15, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-168 to Form 10-Q for quarter ended September 30, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> December 1, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-169 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> August 1, 1995</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-174 to Form 10-Q for quarter ended September 30, 1995</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> August 1, 1999</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-204 to Form 10-Q for quarter ended September 30, 1999</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> August 15, 1999</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-205 to Form 10-Q for quarter ended September 30, 1999</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> January 1, 2000</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-205 to Form 10-K for year ended December 31, 1999</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">27 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Collateral Trust Indenture (notes), dated as of June 30, 1993 (Exhibit 4-152 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Supplemental Note Indenture, dated as of June 30, 1993 (Exhibit 4-153 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Second Supplemental Note Indenture, dated as of September 15, 1993 (Exhibit 4-159 to Form 10-Q for quarter ended September 30, 1993).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment, dated as of August 15, 1996, to Second Supplemental Note Indenture (Exhibit 4-17 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Third Supplemental Note Indenture, dated as of August 15, 1994 (Exhibit 4-169 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment, dated as of December 12, 1995, to Third Supplemental Note Indenture, dated as of August 15, 1994 (Exhibit 4-12 to Registration No. 333-00023).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(h)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Sixth Supplemental Note Indenture, dated as of May 1, 1998, between Detroit Edison and Bankers Trust Company, as Trustee, creating the 7.54% Quarterly Income Debt Securities (“QUIDS”), including form of QUIDS. (Exhibit 4-193 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(i)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Seventh Supplemental Note Indenture, dated as of October 15, 1998, between Detroit Edison and Bankers Trust Company, as Trustee, creating the 7.375% QUIDS, including form of QUIDS. (Exhibit 4-198 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(j)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Standby Note Purchase Credit Facility, dated as of August 17, 1994, among The Detroit Edison Company, Barclays Bank PLC, as Bank and Administrative Agent, Bank of America, The Bank of new York, The Fuji Bank Limited, the Long-Term Credit Bank of Japan, LTD, Union Bank and Citicorp Securities, Inc. and First Chicago Capital Markets, Inc. as Remarketing Agents (Exhibit 99-18 to Form 10-Q for quarter ended September 30, 1994.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(k)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $60,000,000 Support Agreement dated as of January 21, 1998 between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-183 to Form 10-K for year ended December 31, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(l)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $100,000,000 Support Agreement, dated as of June 16, 1998, between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-194 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(m)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $300,000,000 Support Agreement, dated as of November 18, 1998, between DTE Energy and DTE Capital Corporation. (Exhibit 4-199 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(n)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $400,000,000 Support Agreement, dated as of January 19, 1999, between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-201 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(o)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $40,000,000 Support Agreement, dated as of February 24, 1999 between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-202 to Form 10-Q for quarter ended March 31, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(p)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $50,000,000 Support Agreement, dated as of June 10, 1999 between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-203 to Form 10-Q for quarter ended June 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(q)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Indenture, dated as of June 15, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee. (Exhibit 4-196 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(r)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Supplemental Indenture, dated as of June 15, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee, creating the $100,000,000 Remarketed Notes, Series A due 2038, including form of Note. (Exhibit 4-197 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Second Supplemental Indenture, dated as of November 1, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee, creating the $300,000,000 Remarketed Notes, 1998 Series B, including form of Note. (Exhibit 4-200 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Belle River Participation Agreement between Detroit Edison and Michigan Public Power Agency, dated as of December 1, 1982 (Exhibit 28-5 to Registration No. 2-81501).</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">28 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Belle River Transmission Ownership and Operating Agreement between Detroit Edison and Michigan Public Power Agency, dated as of December 1, 1982 (Exhibit 28-6 to Registration No. 2-81501).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> 1988 Amended and Restated Loan Agreement, dated as of October 4, 1988, between Renaissance Energy Company (an unaffiliated company) (“Renaissance”) and Detroit Edison (Exhibit 99-6 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment to 1988 Amended and Restated Loan Agreement, dated as of February 1, 1990, between Detroit Edison and Renaissance (Exhibit 99-7 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Second Amendment to 1988 Amended and Restated Loan Agreement, dated as of September 1, 1993, between Detroit Edison and Renaissance (Exhibit 99-8 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Third Amendment, dated as of August 28, 1997, to 1988 Amended and Restated Loan Agreement between Detroit Edison and Renaissance. (Exhibit 99-22 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $200,000,000 364-Day Credit Agreement, dated as of September 1, 1993, among Detroit Edison, Renaissance and Barclays Bank PLC, New York Branch, as Agent (Exhibit 99-12 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(h)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment, dated as of August 31, 1994, to $200,000,000 364-Day Credit Agreement, dated September 1, 1993, among The Detroit Edison Company, Renaissance Energy Company, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-19 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(i)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Third Amendment, dated as of March 8, 1996, to $200,000,000 364-Day Credit Agreement, dated September 1, 1993, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-11 to Form 10-Q for quarter ended March 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(j)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Fourth Amendment, dated as of August 29, 1996, to $200,000,000 364-Day Credit Agreement as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(k)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Fifth Amendment, dated as of September 1, 1997, to $200,000,000 Multi-Year Credit Agreement, dated as of September 1, 1993, as amended, among Detroit Edison, Renaissance, the Banks Party thereto and Barclays Bank PLC, New York Branch, as Agent. (Exhibit 99-24 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(l)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Seventh Amendment, dated as of August 26, 1999, to $200,000,000 364-Day Credit Agreement, dated as of September 1, 1993, as amended among The Detroit Edison Company, Renaissance Energy Company, the Banks parties thereto and Barclays Bank PLC, New York branch as Agent. (Exhibit 99-30 to Form 10-Q for quarter ended September 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(m)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $200,000,000 Three-Year Credit Agreement, dated September 1, 1993, among Detroit Edison, Renaissance and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(n)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment, dated as of September 1, 1994, to $200,000,000 Three-Year Credit Agreement, dated as of September 1, 1993, among The Detroit Edison Company, Renaissance Energy Company, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-20 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(o)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Third Amendment, dated as of March 8, 1996, to $200,000,000 Three-Year Credit Agreement, dated September 1, 1993, as amended among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-12 to Form 10-Q for quarter ended March 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(p)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Fourth Amendment, dated as of September 1, 1996, to $200,000,000 Multi-Year (formerly Three-Year) Credit Agreement, dated as of September 1, 1993, as amended among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-14 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">29 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(q)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Fifth Amendment, dated as of August 28, 1997, to $200,000,000 364-Day Credit Agreement, dated as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks Party thereto and Barclays Bank PLC, New York Branch, as Agent. (Exhibit 99-25 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(r)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Sixth Amendment, dated as of August 27, 1998, to $200,000,000 364-Day Credit Agreement dated as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank PLC, New York Branch, as agent. (Exhibit 99-32 to Registration No. 333-65765.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract, dated October 4, 1988, between Detroit Edison and Renaissance (Exhibit 99-9 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(t)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract, dated as of February 1, 1990, between Detroit Edison and Renaissance (Exhibit 99-10 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(u)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Eighth Amendment, dated as of August 26, 1999 to 1988 Amended and Restated Nuclear Fuel heat Purchase Contract between Detroit Edison and Renaissance Energy Company. (Exhibit 99-31 to Form 10-Q for quarter ended September 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(v)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> U.S. $160,000,000 Standby Note Purchase Credit Facility, dated as of October 26, 1999, among Detroit Edison, the Bank’s signatory thereto, Barclays Bank PLC, as Administrative Agent and Barclays Capital Inc., Lehman Brothers Inc. and Banc One Capital Markets, Inc., as Remarketing Agents. (Exhibit 99-29 to Form 10-Q for quarter ended September 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(w)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Standby Note Purchase Credit Facility, dated as of September 12, 1997, among The Detroit Edison Company and the Bank’s Signatory thereto and The Chase Manhattan Bank, as Administrative Agent, and Citicorp Securities, Inc., Lehman Brokers, Inc., as Remarketing Agents and Chase Securities, Inc. as Arranger. (Exhibit 99-26 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(x)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Third Amended and Restated Credit Agreement, Dated as of January 18, 2000 among DTE Capital Corporation, the Initial Lenders, Citibank, N.A., as Agent, and ABN AMRO Bank N.V., Bank One N.A., Barclays Bank PLC, Bayerische Landesbank Girozertrale, Cayman Islands Branch, Comerica Bank and Den Daske Bank Aktieselskab, as Co-Agents.</FONT></TD> </TR> </TABLE> </CENTER> <P align="left"> (b) On February 16, 2000, the Company filed a Current Report on Form 8-K discussing its common share buyback program. <P> <TABLE width="100%" border="0" cellpadding="0" cellspacing="0"> <TR> <TD width="2%"></TD> <TD width="98%"></TD> </TR> <TR valign="top"> <TD>* </TD> <TD align="left"> Denotes management contract or compensatory plan or arrangement required to be entered as an exhibit to this report.</TD> </TR> </TABLE> <P align="center">30 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "SIGNATURES" --> <DIV align="left"><A NAME="016"></A></DIV> <DIV align="center"> <B>SIGNATURES</B> </DIV> <P align="left"> Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="8%"> </TD> <TD width="3%"> </TD> <TD width="36%"> </TD> <TD width="3%"> </TD> <TD width="50%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> DTE ENERGY COMPANY<BR> <HR size="1">(Registrant)</FONT></TD> </TR> <TR> <TD colspan="5"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> May 12, 2000</FONT></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> /s/ SUSAN M. BEALE<BR> <HR size="1">Susan M. Beale<BR> Vice President and Corporate Secretary</FONT></TD> </TR> <TR> <TD colspan="5"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> May 12, 2000</FONT></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> /s/ LARRY G. GARBERDING<BR> <HR size="1">Larry G. Garberding<BR> Executive Vice President and Chief Financial Officer</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">31 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "SIGNATURES" --> <DIV align="left"><A NAME="017"></A></DIV> <DIV align="center"> <B>SIGNATURES</B> </DIV> <P align="left"> Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="8%"> </TD> <TD width="3%"> </TD> <TD width="36%"> </TD> <TD width="3%"> </TD> <TD width="50%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> THE DETROIT EDISON COMPANY<BR> <HR size="1">(Registrant)</FONT></TD> </TR> <TR> <TD colspan="5"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> May 12, 2000</FONT></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> /s/ SUSAN M. BEALE<BR> <HR size="1">Susan M. Beale<BR> Vice President and Corporate Secretary</FONT></TD> </TR> <TR> <TD colspan="5"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> May 12, 2000</FONT></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> /s/ DANIEL G. BRUDZYNSKI<BR> <HR size="1">Daniel G. Brudzynski<BR> Controller</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">32 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "EXHIBIT INDEX" --> <DIV align="left"><A NAME="018"></A></DIV> <DIV align="center"> <B>EXHIBIT INDEX</B> </DIV> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Exhibit</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Number</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>Description</B></FONT></TD> </TR> <TR> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="center" nowrap><HR size="1"></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4-206</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Supplemental Indenture, dated as of April 15, 2000, appointing First Chicago Trust Company of New York as Trustee under the Detroit Edison Mortgage and Deed of Trust, dated as of October 1, 1924.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4-207</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Eighth Supplemental Indenture, dated as of April 15, 2000, appointing Bank One Trust Company of New York as Trustee under the Detroit Edison Trust Indenture (Notes), dated as of June 30, 1993.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">10- 34</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">*</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> 2000 Executive Incentive Plan Measures.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">10- 35</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">*</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Amended and Restated Executive Incentive Plan.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">10- 36</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">*</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Detroit Edison Long-Term Incentive Plan, as amended through February 22, 2000.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">10- 37</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">*</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> 2000 Long-Term Incentive Plan Measures.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">10- 38</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">*</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Certain arrangements pertaining to the employment of Theodore J. Vogel.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">11-18</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> DTE Energy Company Basic and Diluted Earnings Per Share of Common Stock.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">12-22</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> DTE Energy Company Computation of Ratio of Earnings to Fixed Charges.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">12-23</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> The Detroit Edison Company Computation of Ratio of Earnings to Fixed Charges.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">15-13</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Awareness Letter of Deloitte & Touche LLP regarding their report dated May 12, 2000.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-33</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Financial Data Schedule for the period ended March 31, 2000 for DTE Energy Company.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-34</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Financial Data Schedule for the period ended March 31, 2000 for The Detroit Edison Company.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99-33</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment, dated as of April 5, 2000, to Third Amended and Restated Credit Agreement, dated as of January 18, 2000 among DTE Capital Corporation, certain Lenders, Citibank, N.A., as Agent, and ABN AMRO Bank N.V., Bank One, N.A., Barclays Bank PLC, Bayerische Landesbank Girozertrale, Cayman Islands Branch, Comerica Bank and Den Daske Bank Aktieselskab, as Co-Agents.</FONT></TD> </TR> </TABLE> </CENTER> <P align="left"> (ii) Exhibits incorporated herein by reference. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">2</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Agreement and Plan of Merger, among DTE Energy, MCN Energy Group, Inc. and DTE Enterprises, Inc., dated as of October 4, 1999 and amended as of November 12, 1999. (Exhibit 2-1 to Form 10-K for the year ended December 31, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Amended and Restated Articles of Incorporation of DTE Energy Company Energy Company dated December 13, 1995. (Exhibit 3-5 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Certificate of Designation of Series A Junior Participating Preferred Stock of DTE Energy Company. (Exhibit 3-6 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Restated Articles of Incorporation of Detroit Edison, as filed December 10, 1991 with the State of Michigan, Department of Commerce — Corporation and Securities Bureau (Exhibit 3-13 to Form 10-Q for quarter ended June 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Articles of Incorporation of DTE Enterprises, Inc. (Exhibit 3.5 to Registration No. 333-89175.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Rights Agreement, dated as of September 23, 1997, by and between DTE Energy Company and The Detroit Edison Company, as Rights Agent (Exhibit 4-1 to DTE Energy Company Current Report on Form 8-K, dated September 23, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Agreement and Plan of Exchange (Exhibit 1(2) to DTE Energy Form 8-B filed January 2, 1996, File No. 1-11607.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Bylaws of DTE Energy Company, as amended through September 22, 1999. (Exhibit 3-3 to Registration No. 333-89175.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(h)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Bylaws of The Detroit Edison Company, as amended through September 22, 1999. (Exhibit 3-14 to Form 10-Q for quarter ended September 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(i)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Bylaws of DTE Enterprises, Inc. (Exhibit 3.6 to Registration No. 333-89175.)</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">33 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Mortgage and Deed of Trust, dated as of October 1, 1924, between Detroit Edison (File No. 1-2198) and Bankers Trust Company as Trustee (Exhibit B-1 to Registration No. 2-1630) and indentures supplemental thereto, dated as of dates indicated below, and filed as exhibits to the filings as set forth below:</FONT></TD> </TR> </TABLE> </CENTER> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="3%"> </TD> <TD width="18%"> </TD> <TD width="3%"> </TD> <TD width="61%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> September 1, 1947</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit B-20 to Registration No. 2-7136</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> November 15, 1971</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 2-B-38 to Registration No. 2-42160</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> January 15, 1973</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 2-B-39 to Registration No. 2-46595</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> June 1, 1978</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 2-B-51 to Registration No. 2-61643</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> June 30, 1982</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-30 to Registration No. 2-78941</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> August 15, 1982</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-32 to Registration No. 2-79674</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> October 15, 1985</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-170 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> November 30, 1987</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-139 to Form 10-K for year ended December 31, 1992</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> July 15, 1989</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-171 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> December 1, 1989</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-172 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> February 15, 1990</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-173 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> April 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-15 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> November 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-181 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> January 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-182 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> February 29, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-187 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> April 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-188 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> July 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-189 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> July 31, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-190 to Form 10-Q for quarter ended September 30, 1992</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> January 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-131 to Registration No. 33-56496</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> March 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-191 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> March 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-192 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> April 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-143 to Form 10-Q for quarter ended March 31, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> April 26, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-144 to Form 10-Q for quarter ended March 31, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> May 31, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-148 to Registration No. 33-64296</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-149 to Form 10-Q for quarter ended June 30, 1993 (1993 Series AP)</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-150 to Form 10-Q for quarter ended June 30, 1993 (1993 Series H)</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> September 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-158 to Form 10-Q for quarter ended September 30, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> March 1, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-163 to Registration No. 33-53207</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> June 15, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-166 to Form 10-Q for quarter ended June 30, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> August 15, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-168 to Form 10-Q for quarter ended September 30, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> December 1, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-169 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> August 1, 1995</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-174 to Form 10-Q for quarter ended September 30, 1995</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> August 1, 1999</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-204 to Form 10-Q for quarter ended September 30, 1999</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> August 15, 1999</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-205 to Form 10-Q for quarter ended September 30, 1999</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> January 1, 2000</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-205 to Form 10-K for year ended December 31, 1999</FONT></TD> </TR> </TABLE> </CENTER> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="79%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Collateral Trust Indenture (notes), dated as of June 30, 1993 (Exhibit 4-152 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Supplemental Note Indenture, dated as of June 30, 1993 (Exhibit 4-153 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Second Supplemental Note Indenture, dated as of September 15, 1993 (Exhibit 4-159 to Form 10-Q for quarter ended September 30, 1993).</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">34 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment, dated as of August 15, 1996, to Second Supplemental Note Indenture (Exhibit 4-17 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Third Supplemental Note Indenture, dated as of August 15, 1994 (Exhibit 4-169 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment, dated as of December 12, 1995, to Third Supplemental Note Indenture, dated as of August 15, 1994 (Exhibit 4-12 to Registration No. 333-00023).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(h)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Sixth Supplemental Note Indenture, dated as of May 1, 1998, between Detroit Edison and Bankers Trust Company, as Trustee, creating the 7.54% Quarterly Income Debt Securities (“QUIDS”), including form of QUIDS. (Exhibit 4-193 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(i)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Seventh Supplemental Note Indenture, dated as of October 15, 1998, between Detroit Edison and Bankers Trust Company, as Trustee, creating the 7.375% QUIDS, including form of QUIDS. (Exhibit 4-198 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(j)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Standby Note Purchase Credit Facility, dated as of August 17, 1994, among The Detroit Edison Company, Barclays Bank PLC, as Bank and Administrative Agent, Bank of America, The Bank of new York, The Fuji Bank Limited, the Long-Term Credit Bank of Japan, LTD, Union Bank and Citicorp Securities, Inc. and First Chicago Capital Markets, Inc. as Remarketing Agents (Exhibit 99-18 to Form 10-Q for quarter ended September 30, 1994.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(k)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $60,000,000 Support Agreement dated as of January 21, 1998 between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-183 to Form 10-K for year ended December 31, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(l)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $100,000,000 Support Agreement, dated as of June 16, 1998, between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-194 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(m)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $300,000,000 Support Agreement, dated as of November 18, 1998, between DTE Energy and DTE Capital Corporation. (Exhibit 4-199 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(n)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $400,000,000 Support Agreement, dated as of January 19, 1999, between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-201 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(o)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $40,000,000 Support Agreement, dated as of February 24, 1999 between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-202 to Form 10-Q for quarter ended March 31, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(p)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $50,000,000 Support Agreement, dated as of June 10, 1999 between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-203 to Form 10-Q for quarter ended June 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(q)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Indenture, dated as of June 15, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee. (Exhibit 4-196 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(r)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Supplemental Indenture, dated as of June 15, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee, creating the $100,000,000 Remarketed Notes, Series A due 2038, including form of Note. (Exhibit 4-197 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Second Supplemental Indenture, dated as of November 1, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee, creating the $300,000,000 Remarketed Notes, 1998 Series B, including form of Note. (Exhibit 4-200 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Belle River Participation Agreement between Detroit Edison and Michigan Public Power Agency, dated as of December 1, 1982 (Exhibit 28-5 to Registration No. 2-81501).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Belle River Transmission Ownership and Operating Agreement between Detroit Edison and Michigan Public Power Agency, dated as of December 1, 1982 (Exhibit 28-6 to Registration No. 2-81501).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> 1988 Amended and Restated Loan Agreement, dated as of October 4, 1988, between Renaissance Energy Company (an unaffiliated company) (“Renaissance”) and Detroit Edison (Exhibit 99-6 to Registration No. 33-50325).</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">35 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment to 1988 Amended and Restated Loan Agreement, dated as of February 1, 1990, between Detroit Edison and Renaissance (Exhibit 99-7 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Second Amendment to 1988 Amended and Restated Loan Agreement, dated as of September 1, 1993, between Detroit Edison and Renaissance (Exhibit 99-8 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Third Amendment, dated as of August 28, 1997, to 1988 Amended and Restated Loan Agreement between Detroit Edison and Renaissance. (Exhibit 99-22 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $200,000,000 364-Day Credit Agreement, dated as of September 1, 1993, among Detroit Edison, Renaissance and Barclays Bank PLC, New York Branch, as Agent (Exhibit 99-12 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(h)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment, dated as of August 31, 1994, to $200,000,000 364-Day Credit Agreement, dated September 1, 1993, among The Detroit Edison Company, Renaissance Energy Company, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-19 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(i)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Third Amendment, dated as of March 8, 1996, to $200,000,000 364-Day Credit Agreement, dated September 1, 1993, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-11 to Form 10-Q for quarter ended March 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(j)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Fourth Amendment, dated as of August 29, 1996, to $200,000,000 364-Day Credit Agreement as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(k)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Fifth Amendment, dated as of September 1, 1997, to $200,000,000 Multi-Year Credit Agreement, dated as of September 1, 1993, as amended, among Detroit Edison, Renaissance, the Banks Party thereto and Barclays Bank PLC, New York Branch, as Agent. (Exhibit 99-24 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(l)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Seventh Amendment, dated as of August 26, 1999, to $200,000,000 364-Day Credit Agreement, dated as of September 1, 1993, as amended among The Detroit Edison Company, Renaissance Energy Company, the Banks parties thereto and Barclays Bank PLC, New York branch as Agent. (Exhibit 99-30 to Form 10-Q for quarter ended September 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(m)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> $200,000,000 Three-Year Credit Agreement, dated September 1, 1993, among Detroit Edison, Renaissance and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(n)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment, dated as of September 1, 1994, to $200,000,000 Three-Year Credit Agreement, dated as of September 1, 1993, among The Detroit Edison Company, Renaissance Energy Company, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-20 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(o)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Third Amendment, dated as of March 8, 1996, to $200,000,000 Three-Year Credit Agreement, dated September 1, 1993, as amended among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-12 to Form 10-Q for quarter ended March 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(p)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Fourth Amendment, dated as of September 1, 1996, to $200,000,000 Multi-Year (formerly Three-Year) Credit Agreement, dated as of September 1, 1993, as amended among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-14 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(q)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Fifth Amendment, dated as of August 28, 1997, to $200,000,000 364-Day Credit Agreement, dated as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks Party thereto and Barclays Bank PLC, New York Branch, as Agent. (Exhibit 99-25 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">36 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(r)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Sixth Amendment, dated as of August 27, 1998, to $200,000,000 364-Day Credit Agreement dated as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank PLC, New York Branch, as agent. (Exhibit 99-32 to Registration No. 333-65765.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract, dated October 4, 1988, between Detroit Edison and Renaissance (Exhibit 99-9 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(t)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> First Amendment to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract, dated as of February 1, 1990, between Detroit Edison and Renaissance (Exhibit 99-10 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(u)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Eighth Amendment, dated as of August 26, 1999 to 1988 Amended and Restated Nuclear Fuel heat Purchase Contract between Detroit Edison and Renaissance Energy Company. (Exhibit 99-31 to Form 10-Q for quarter ended September 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(v)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> U.S. $160,000,000 Standby Note Purchase Credit Facility, dated as of October 26, 1999, among Detroit Edison, the Bank’s signatory thereto, Barclays Bank PLC, as Administrative Agent and Barclays Capital Inc., Lehman Brothers Inc. and Banc One Capital Markets, Inc., as Remarketing Agents. (Exhibit 99-29 to Form 10-Q for quarter ended September 30, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(w)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Standby Note Purchase Credit Facility, dated as of September 12, 1997, among The Detroit Edison Company and the Bank’s Signatory thereto and The Chase Manhattan Bank, as Administrative Agent, and Citicorp Securities, Inc., Lehman Brokers, Inc., as Remarketing Agents and Chase Securities, Inc. as Arranger. (Exhibit 99-26 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(x)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Third Amended and Restated Credit Agreement, Dated as of January 18, 2000 among DTE Capital Corporation, the Initial Lenders, Citibank, N.A., as Agent, and ABN AMRO Bank N.V., Bank One N.A., Barclays Bank PLC, Bayerische Landesbank Girozertrale, Cayman Islands Branch, Comerica Bank and Den Daske Bank Aktieselskab, as Co-Agents.</FONT></TD> </TR> </TABLE> </CENTER> <P align="left"> (b) On February 16, 2000, the Company filed a Current Report on Form 8-K discussing its common share buyback program. <P> <TABLE width="100%" border="0" cellpadding="0" cellspacing="0"> <TR> <TD width="2%"></TD> <TD width="98%"></TD> </TR> <TR valign="top"> <TD>* </TD> <TD align="left"> Denotes management contract or compensatory plan or arrangement required to be entered as an exhibit to this report.</TD> </TR> </TABLE> <P align="center">37 </BODY> </HTML>