Exhibit 99.3

Press Release

SOURCE: MidAmerican Energy Holdings Company and Dynegy Inc.

MidAmerican and Dynegy Complete Northern Natural Gas Transaction

HOUSTON & DES MOINES, Iowa--(BUSINESS WIRE)--Aug. 16, 2002--MidAmerican Energy
Holdings Company and Dynegy Inc. (NYSE:DYN - News) today announced the
completion of MidAmerican's acquisition of Northern Natural Gas Company (NNG).
The transaction was closed following early termination of the Hart-Scott-Rodino
waiting period by the Federal Trade Commission.

MidAmerican purchased NNG for $928 million in cash, subject to adjustment for
working capital, and also assumed $950 million in debt. MidAmerican acquired all
of the common and preferred stock of NNG.

"Northern Natural Gas is an excellent addition to our growing interstate gas
transmission business," said David L. Sokol, chairman and chief executive
officer of MidAmerican Energy Holdings Company. "It provides a great complement
to our Kern River Gas Transmission Company, and is an example of MidAmerican's
strategy of acquiring top-performing assets, investing in them and operating
them well."

Dan Dienstbier, interim chief executive officer of Dynegy Inc., said, "The
completion of this asset sale is an important step in Dynegy's ongoing efforts
to improve its financial profile."

NNG's 16,600 miles of pipeline extend from the Permian Basin in Texas
to the upper Midwest, providing extensive service to major utilities and
industrial customers. NNG provides transportation and storage services to its
customers and cross-haul and grid transportation between other interstate and
intrastate pipelines in the Permian, Anadarko, Hugoton, and Midwest areas. Its
storage capacity is 59 billion cubic feet and its market area capacity is
approximately 4.3 billion cubic feet per day.

MidAmerican Energy Holdings Company is based in Des Moines, Iowa, and is a
privately owned global provider of energy services. Through its energy-related
business platforms -- CalEnergy Generation, Kern River Gas Transmission Company,
Northern Natural Gas Company, MidAmerican Energy, and Northern and Yorkshire
Electric -- MidAmerican provides electric and natural gas service to more than 5
million customers worldwide. Information on MidAmerican is available on the
Internet at www.midamerican.com. Information on HomeServices, the company's
wholly owned residential real estate brokerage business, is available on the
Internet at www.homeservices.com.

Dynegy Inc. is a global energy merchant. Through its owned and contractually
controlled network of physical assets and its marketing, logistics and risk
management capabilities, Dynegy provides solutions to customers in North
America, the United Kingdom and Continental Europe. The company's Web site is
www.dynegy.com.