EXHIBIT 99
 
 ENSERCH Corporation                               News Release
 300 South St. Paul
 Dallas, Texas 75201-5598
 
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 ENSERCH CORPORATION AND TEXAS UTILITIES
 REACH AGREEMENT TO COMBINE COMPANIES
 
     DALLAS, TEXAS (April 15, 1996)--ENSERCH Corporation (NYSE--ENS) and
 Texas Utilities (NYSE--TXU) have entered into a definitive agreement to
 combine the two companies.  Under the terms of the agreement approved by
 both companies' Boards of Directors, Lone Star Gas and Lone Star Pipeline,
 the local distribution and pipeline companies of ENSERCH, and other
 businesses, will be merged into Texas Utilities.  Texas Utilities will
 acquire the ENSERCH companies for $1.7 billion, composed of approximately
 $550 million of TXU common stock and approximately $1.15 billion of net
 debt and preferred stock.
 
     The 83%-owned subsidiary of ENSERCH, Enserch Exploration, Inc. (NYSE--EEX),
 will be spun off to shareholders of ENS prior to the merger.  Based
 on shares of ENS and EEX presently outstanding, each share of ENS will
 receive approximately 1.5 shares of EEX in the spin-off.
 
     Within a range of a 10% variation above or below the April 12 closing
 price of TXU common stock, the ENSERCH shareholder will receive sufficient
 shares of TXU common stock to provide $8.00 of value.  Above or below the
 10% threshold, the value received will move up or down with the price of
 TXU common stock.  The value of EEX shares to be received, estimated based
 on EEX's Friday's closing price to be approximately $15.68 per ENS share,
 and the value of the TXU shares to be received represent a total estimated
 value of $23.68 per share, a gain of  45% over the Friday closing price of
 ENS.  The final value can not be determined until closing.
     
     "This transaction is the culmination of a strategic plan to enhance
 shareholder value which the Corporation's Board of Directors has been
 actively pursuing for some time.  The value today of EEX and TXU shares to
 be received by ENS shareholders represents a substantial premium above the
 market's prior perception of ENSERCH value.  The important aspects of this
 transaction are that the full upside potential of ENSERCH's ownership
 interest in EEX is preserved for our shareholders and the value previously
 unrecognized by the stock market is unlocked," said David W. Biegler,
 chairman, president and chief executive officer of ENSERCH.  "Deregulation
 of the natural gas industry and the convergence of energy markets make the
 combination of our two firms a natural fit," he added.  
 
     The agreement is subject to approval by shareholders and the
 Securities and Exchange Commission, a filing with the Railroad Commission
 of Texas and Hart-Scott-Rodino clearance.  Approvals by the Public Utility
 Commission of Texas and the Federal Energy Regulatory Commission are not
 required.  The agreement is subject to a favorable ruling as to the tax-free 
 nature of the spin-off of EEX shares.
 
     Each party has a 21-day period to complete its due diligence review. 
 In connection with entering into the merger agreement, ENS has granted TXU
 an option to purchase 4.9% of its outstanding common stock at an exercise
 price of  $16.375 per share exercisable under certain circumstances in the
 event the transaction does not proceed as agreed. 
 
     ENSERCH Corporation is an integrated natural gas company.  Enserch
 Exploration, Inc. is a natural gas and oil exploration and production
 company with activities focused in Texas and the Gulf of Mexico.