FOR IMMEDIATE RELEASE


(WISCONSIN  ENERGY AND WICOR REACH SETTLEMENT ON LITIGATION
          RELATED TO PROPOSED MERGER)

MILWAUKEE,  WI (September 9, 1999)--Wisconsin  Energy Corporation (NYSE:WEC) and
WICOR,  Inc.  (NYSE:WIC) today announced that they have reached a stipulation of
settlement  in  connection  with  litigation  filed  in  July  by a  shareholder
challenging the proposed  merger of the companies.  The combination of Wisconsin
Energy and WICOR was publicly announced on June 28, 1999.

          As part of the  stipulation,  Wisconsin  Energy and WICOR have amended
their merger agreement to remove a provision  regarding  resisting certain types
of  acquisition  proposals  for WICOR and to reduce the  special  fee payable by
WICOR upon termination of the merger agreement in certain circumstances from $30
million to $25 million.  WICOR has also amended its shareholder rights agreement
to increase the ownership threshold that triggers the rights from 15% to 20%. In
addition,  Wisconsin  Energy and WICOR have  agreed to pay  plaintiff's  counsel
$430,000 for attorneys' fees and expenses upon consummation of the settlement.

          The  plaintiff  has  agreed  to  dismiss  all  of his  claims  against
Wisconsin Energy and WICOR upon settlement.

          The  consummation  of the  settlement  is subject  to, and the related
amendments to the merger agreement are conditioned upon, final court approval of
the terms of the settlement and completion of the merger.

          WICOR is a Milwaukee-based,  diversified holding company operating six
subsidiaries in two  industries:  energy  services and pump  manufacturing.  The
subsidiaries are Wisconsin Gas, WICOR Energy, FieldTech, Sta-Rite Industries,

                                     (more)


SETTLEMENT/2

SHURflo Pump Manufacturing Company and Hypro Corporation.

          Wisconsin Energy Corporation is a holding company with subsidiaries in
utility and non-utility  businesses.  Its principal  subsidiaries  are Wisconsin
Electric, Edison Sault Electric, Wisvest, Minergy and Wispark.

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Media Contacts:
Wisconsin Energy             Rick White
                             414/221-2444

WICOR                        Kathleen Sieja
                             414/291-6950