Central Hudson Gas & Electric Corporation issued the following News Release today (September 23, 1998): Central Hudson Amends Proposed Holding Company By-Laws In July 1998, Central Hudson Gas & Electric Corporation began its proxy solicitation relative to a proposal to form a holding company, CH Energy Group, Inc. That structure will provide the financial and regulatory flexibility needed to effectively engage in competitive businesses while the Company continues to operate its regulated natural gas and electric utility business. "We are extremely pleased with the favorable response to our proposal by the majority of our shareholders. However, several institutional shareholders have expressed concern about some of the corporate governance features proposed for CH Energy Group," said John E. Mack III, Chairman of the Board of Directors. "Therefore, in the interest of gaining support from a broader shareholder base, we will amend the proposed By-Laws of CH Energy Group to allow for a majority of its shareholders to call Special Meetings of shareholders." The shareholder meeting to act on the holding company proposal will be held on Friday, September 25, 1998. SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant [X] Filed by a Party other than the Registrant [ ] Check the appropriate box: [ ] Preliminary Proxy Statement [ ] Confidential, for Use of the Commission Only (as permitted by Rule 14-a6(e)(2)) [ ] Definitive Proxy Statement [ X ] Definitive Additional Materials [ ] Soliciting Material Pursuant to subsection 240.14a-11(c) or subsection 240.14a-12 Central Hudson Gas & Electric Corporation (Name of Registrant as Specified in Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): [ X ] No fee required [ ] Fee computed on table below per Exchange Act Rules 14a-6(i) (4) and 0-11. 1) Title of each class of securities to which transaction applies: 2) Aggregate number of securities to which transaction applies: 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount of which the filing fee is calculated and state how it was determined): 4) Proposed maximum aggregate value of transaction: 5) Total fee paid: [ ] Fee paid previously with preliminary materials [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount previously Paid: 2) Form, Schedule or Registration Statement No.: 3) Filing Party: 4) Date Filed: