Miscalculations

Accounting Scheme Shaves Millions from MCN’s Results

MCN Energy said last week deliberate financial miscalculationsby several former employees at CoEnergy trading, its unregulatedgas marketing subsidiary, led to a net loss of $2.7 million,significantly lower earnings in 1997 and 1998, and slightly higherearnings in 1Q99.

June 14, 1999