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Enron Mail |
FYI
=20 -----Original Message----- From: Jon Cartwright [mailto:JCartwright@FI.RJF.com] Sent: Wednesday, November 21, 2001 12:51 PM To: Energy-Gram (E-mail) Subject: DYNEGY ISSUES STATEMENT ON ENRON MERGER STATUS FOR IMMEDIATE RELEASE=20 DYNEGY ISSUES STATEMENT ON ENRON MERGER STATUS HOUSTON (Nov. 21, 2001) -- Dynegy Inc. (NYSE: DYN) Chairman and CEO Chuck W= atson today said he is encouraged by Enron Corp.'s report this morning that= it has closed the remaining $450 million credit facility secured by the as= sets of Northern Natural Gas Pipeline and has received a commitment from it= s lead bank to extend the $690 million note payable obligation described in= Enron's recent 10-Q filing. "We are continuing our confirmatory due diligence and working to accelerate= the regulatory approvals required to complete the merger in accordance wit= h the previously announced agreement," he said. Watson also noted that ChevronTexaco recently reiterated that it has "full = confidence in Dynegy's disciplined management approach to complete the merg= er and to build a new company into an industry leader." ChevronTexaco owns= 26 percent of Dynegy's outstanding common stock. Dynegy Inc. is one of the world's top energy merchants. Through its global= energy delivery network and marketing, trading and risk management capabil= ities, Dynegy provides innovative solutions to customers in North America, = the United Kingdom and Continental Europe. Certain statements included in this news release are intended as "forward-l= ooking statements" under the Private Securities Litigation Reform Act of 19= 95. These statements include assumptions, expectations, predictions, intent= ions or beliefs about future events. Dynegy cautions that actual future re= sults may vary materially from those expressed or implied in any forward-lo= oking statements. Some of the key factors that could cause actual results = to vary from those Dynegy expects include changes in commodity prices for e= nergy or communications products or services; the timing and extent of dere= gulation of energy markets in the U.S. and Europe; the timing of required a= pprovals for the Dynegy/Enron merger and the success of integration and cos= t savings measures relating to the merger; the effectiveness of Dynegy's ri= sk management policies and procedures and the creditworthiness of customers= and counterparties; the liquidity and competitiveness of wholesale trading= markets for energy commodities, including the impact of electronic or onli= ne trading in these markets; operational factors affecting Dynegy's power g= eneration or Dynegy's midstream natural gas facilities; uncertainties regar= ding the development of, and competition within, the market for communicati= ons services in the U.S. and Europe; uncertainties regarding environmental = regulations or litigation and other legal or regulatory developments affect= ing Dynegy's business; general political, economic and financial market con= ditions; and any extended period of war or conflict involving the United St= ates or Europe. Moreover, Dynegy's expectation that the acquisition will b= e accretive to earnings in 2002 and beyond is based upon achieving certain = sales projections, meeting certain cost targets and successfully integratin= g the acquired assets. More information about the risks and uncertainties r= elating to these forward-looking statements are found in Dynegy's SEC filin= gs, which are available free of charge on the SEC's web site at < <http://w= ww.sec.gov<<.
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