NOTICE OF PARTIAL REDEMPTION
POWER AUTHORITY OF THE STATE OF NEW YORK
New York Revenue Bonds (Series A, B, D, E, F, G, H)

(cont'd)

SERIES

 CUSIP #

 Rate

 Maturity Date

 Amount Called From Sinking Fund Installment

H

 649892 KN5*

 7 1/2%

 January 1, 2010

 $3,745,000

The serial numbers of registered Bonds with the prefix HR, or HR10, to be redeemed
in full or in part and the principal amount to be redeemed are as follows:

509..............$5,000

732..........$5,000

761............$5,000

783..............$5,000

846............$5,000

861................$5,000

906..........$10,000

937..........$10,000

946..............$5,000

971................$5,000

978..............$5,000

985................$10,000

987..............$5,000

988............$5,000

990............$10,000

991............$370,000

992..........$305,000

993..............$435,000

994..........$380,000

995........$425,000

996..........$360,000

997............$220,000

1005............$5,000

1009................$5,000

1011............$5,000

1012..........$5,000

10155............$5,000

10276..........$5,000

Serial numbers of coupon Bonds with prefix H10, each for $5,000 to be redeemed are:

140 149 168 311 332 347 383 384 402 438 501 505 551 556 583
599 611 681 725 782 796 871 898 900 912 914 922 977 1143 1207
1209 1212 1220 1231 1334 1447 1487 1488 1495 1496 1591 1802 1824 1826 1883
1893 1980 2019 2088 2096 2213 2400 2423 2556 2670 2676 2753 2758 2883 2887
2903 2909 2949 2953 2965 2986 3017 3251 3255 3258 3361 3362 3403 3629 3656
3660 3664 3667 3738 3752 3753 3799 3857 3929 3977 3978 4118 4588 4629 4630
4661 4679 4686 4782 4837 4894 4994 5170 5188 5249 5250 5287 5353 5357 5542
5585 5587 5589 5788 5842 5942 5976 6061 6064 6066 6139 6175 6259 6360 6437
6562 6571 6790 6836 6963 6990 7140 7193 7303 7319 7750 7796 7809 7817 7825
7924 7933 7992 8020 8039 8040 8106 8108 8111 8289 8333 8400 8412 8487 8488
8754 8989 9165 9169 9354 9379 9386 9390 9393 9530 9570 9711 9732 9736 9827
9890 9893 9993 10006 10031 10058 10069 10081 10089 10129 10130 10178 10180 10191 10240
10331 10355 10357 10375 10511 10535 10539 10552 10553 10554 10557 10629 10632 10634 10636
10637 10641 10666 10718 10766 10767 10772 10792 10793 10811 10972 10973 11002 11423 11428
11559 11560 11570 12101 12122 12226 12626 12628 12735 12736 12742 12799 12813 12823 12844

Payment of the Redemption Price on the Bonds called for redemption will become due and payable on the Redemption Date upon presentation and surrender thereof in the following manner:

REGISTERED BONDS

By Registered Mail:     The Chase Manhattan Bank, c/o Chase Bank of Texas N.A., Corporate Trust Services, 
                                        P.O. Box 219052, Dallas Texas 75221-9052
By Hand:
                       The Chase Manhattan Bank, Room 234 North Building, Corporate Trust Securities 
                                        Window, 55 Water Street, New York, NY 10041

By Courier:                    The Chase Manhattan Bank, c/o Chase Bank of Texas N.A., 1201 Main Street, 18th Floor, 
                                        Dallas, Texas 75202

BEARER BONDS

By Registered Mail:     The Chase Bank of Texas, N.A., P.O. Box 2320 Dallas, Texas 75221-2320
By Hand:                   The Chase Bank of Texas, N.A., Corporate Trust Securities Window, 55 Water Street, 
                                 Room 234, North Building, New York, NY 10041

By Courier               The Chase Bank of Texas, N.A., Corporate Trust Services, 1201 Main Street 18th Floor, 
                                 Dallas, Texas 75202

Coupons due July 1, 2002, and subsequent maturing coupons should be attached to coupon Bonds being redeemed. Coupons due January 1, 2002 should be detached and collected in the usual manner. Upon presentation of any registered Bond which is to be redeemed in part only, a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of such Bond will be issued to the registered owner thereof, without charge therefore. Interest on the principal amount designated to be redeemed shall cease to accrue on and after the Redemption Date.

IMPORTANT NOTICE

Under the Economic Growth and Tax Relief Reconciliation Act of 2001 (the "Act"), 30% will be withheld if tax identification number is not properly certified. *The Trustee shall not be held responsible for the selection or use of the CUSIP numbers, nor is any representation made as to their correctness in this Redemption Notice. They are included solely for convenience of the holders.

Date: November 30, 2001                                                                          POWER AUTHORITY OF THE STATE OF NEW YORK
                                 
                                                                                        BY U.S. BANK TRUST NATIONAL ASSOCIATION 
                                                                                                                                                                                                     as Trustee

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