Exhibit 99(b) Entergy Gulf States, Inc. Computation of Ratios of Earnings to Fixed Charges and Ratios of Earnings to Combined Fixed Charges and Preferred Dividends 12 months 1994 1995 1996 1997 1998 June 1999 Fixed charges, as defined: Total Interest charges $204,134 $200,224 $193,890 $180,073 $178,220 $170,517 Interest applicable to rentals 21,539 16,648 14,887 15,747 16,927 17,041 ---------------------------------------------------------- Total fixed charges, as defined 225,673 216,872 208,777 195,820 195,147 187,558 Preferred dividends, as defined (a) 52,210 44,651 48,690 30,028 32,031 27,376 ---------------------------------------------------------- Combined fixed charges and preferred dividends, as defined $277,883 $261,523 $257,467 $225,848 $227,178 $214,934 ========================================================== Earnings as defined: Income (loss) from continuing operations before extraordinary items and the cumulative effect of accounting changes ($82,755) $122,919 ($3,887) $59,976 $46,393 $67,336 Add: Income Taxes (62,086) 63,244 102,091 22,402 31,773 49,064 Fixed charges as above 225,673 216,872 208,777 195,820 195,147 187,558 ---------------------------------------------------------- Total earnings, as defined (b) $80,832 $403,035 $306,981 $278,198 $273,313 $303,958 ========================================================== Ratio of earnings to fixed charges, as defined 0.36 1.86 1.47 1.42 1.40 1.62 ========================================================== Ratio of earnings to combined fixed charges and preferred dividends, as defined 0.29 1.54 1.19 1.23 1.20 1.41 ========================================================== (a) "Preferred dividends," as defined by SEC regulation S-K, are computed by dividing the preferred dividend requirement by one hundred percent (100%) minus the income tax rate. (b) Earnings for the year ended December 31, 1994, for GSU were not adequate to cover fixed charges combined fixed charges and preferred dividends by $144.8 million and $197.1 million, respectively.