QUANTUMONLINE.COM SECURITY DESCRIPTION:  CMS Energy Trust III, 7 1/4% Premium Equity Participating Security Units (PEPS), stated amount $25 per unit, initially consisting of PEPS Units which include a stock purchase contract and a 7.25% trust preferred security issued by CMS Energy Trust III with a principal amount of $25. The purchase contract requires the holder to purchase for $25 a variable number of shares of CMS Energy Corp. (NYSE: CMS) common stock no later than 8/18/2003. The purchase settlement rate will be 0.8223 shares per unit if the then current market price is equal to or greater than $30.403 and 1.8913 shares per unit if the price is equal to or less than $13.218. For market prices between those values the settlement rate will be $25 divided by the market value. The trust preferred security is due 8/18/2004 and is subject to reset and remarketing on the third business day prior to 8/18/2003. The PEPS Units pay quarterly distributions of 7.25% ($1.1825) per annum on 2/18, 5/18, 8/18 & 11/18 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The trust preferred securities are pledged as collateral to secure the holder's obligations under the stock purchase contract. The holder has the right at any time to convert the PEPS Units to Treasury PEPS Units by the substitution of a specified zero-coupon U.S. Treasury security for the trust preferred securities and to later recreate PEPS Units. See the IPO prospectus for extensive additional information on the PEPS units and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below. CMS Energy Trust III is a subsidary of CMS Energy Corp. (NYSE: CMS).

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Conversion Shares@Price	Distribution Dates	15% Tax Rate
NYSE Chart	7.25% $1.8125	$25.00 n.a.	8/18/2003 8/18/2004	Caa1 BB 4/18/2003	0.8223@$30.403+ 1.8913@$13.218-	2/18, 5/18, 8/18 & 11/18 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

Company's Online Information Links

HOME PAGE:     http://www.cmsenergy.com/
Company's Investor Relations Information	Go to Investor Relations Information
Company's Online News Releases	Go to News Releases
Online Company Profile	Go to Online Profile

Company's Online SEC EDGAR Filings

Company's SEC EDGAR Filings

Go to SEC Filings

Company's Email Address Links

Inv Rel Email Address	invest@cmsenergy.com
General Email Address	info@cmsenergy.com
Email Request Form on Website	Go to Email Form

Address and Phone Numbers

Address:   One Energy Plaza, Jackson, MI 49201
Main Phone Number	517-788-0550
Fax Number	517-788-1006
Investor Relations	517-788-2590
Toll Free Phone Number	Unknown

CEO - David W. Joos

CFO - Thomas J. Webb