[Logo omitted]
News Release
Vectren Corporation
P.O. Box 209
Evansville, IN 47702-0209
December 13, 2000
For Immediate Release
Vectren and Cinergy Affiliate Complete Miller Pipeline Corp. Acquisition.
Evansville and Cincinnati -- Reliant Services, LLC, jointly and equally owned by
subsidiaries of Vectren Corporation (NYSE: VVC) and Cinergy Corp. (NYSE:CIN)
announced it has completed the common stock purchase of Indianapolis-based
Miller Pipeline Corporation from NiSource Inc. (NYSE:NI) for approximately $68.3
million. Miller Pipeline is one of the nation's premier natural gas distribution
contractors with nearly 50 years of experience in the construction industry.
Prior to the closing, the United States Department of Justice provided notice
that it had closed its required investigation of the transaction under the Hart
Scott Rodino Notification Act, with no further action to be taken. This was the
only legal review needed to complete the transaction. Reliant, in conjunction
with Miller Pipeline will expand its utility services business by adding
underground pipeline construction, replacement and repair to its current
services of underground facility locating, contract meter reading and
installation of telecommunications and electric facilities.
More about Reliant Services
Reliant was formed in August 1998 and is owned as a joint venture between
Vectren and Cinergy. Reliant currently provides utility-related services such as
underground facility locating, contract meter reading services and electric and
telecommunications installation services throughout the Midwest region.
-more-
For more information about Reliant visit http://www.Reliant-Services.com.
More about Miller Pipeline
Miller Pipeline was founded in 1953 (as a predecessor company) and has grown to
include three divisions with approximately 110 construction crews and over 750
employees. Miller Pipeline performs natural gas and water distribution and
transmission construction primarily in the Midwest region and the repair and
rehabilitation of gas, water and waste water facilities nationwide. For more
information about Miller Pipeline visit http://www.Millerpipeline.com
More about Vectren
Vectren Corporation (NYSE: VVC), is an energy holding company headquartered in
Evansville, Indiana. Through its regulated subsidiaries, Vectren offers gas
and/or electricity to nearly 1 million customers in adjoining service areas that
cover nearly two-thirds of Indiana and west central Ohio. Vectren's
non-regulated subsidiaries and affiliates currently offer energy-related
products and services, fiber-optic based communication services, and utility
related services including materials management, debt collections, underground
construction, line locating, and meter reading services to customers throughout
the surrounding region. To learn more about Vectren visit
http://www.vectren.com.
More about Cinergy
Cinergy Corp. is one of the nation's leading diversified energy companies, with
a total enterprise value of $8.5 billion and assets of $10 billion. Cinergy owns
or operates nearly 20,000 megawatts of electrical and combined heat plant
generation that is either operational or under development domestically and
internationally. It also has 55,000 miles of electric and gas transmission lines
in the United States and abroad and approximately 9,000 employees in nine
countries. Its largest operating companies, The Cincinnati Gas & Electric
Company and PSI Energy, Inc., serve more than 1.4 million electric customers and
478,000 gas customers in Indiana, Ohio and Kentucky. In addition to its U.S.
operations, Cinergy owns and operates power generation, transmission and
distribution assets in the Czech Republic, Spain, the United Kingdom, Zambia,
Kenya, South Africa and Estonia. Cinergy is also active in European
-more-
gas and electricity markets.
This news release may contain forward-looking statements concerning our
anticipation of future events that involve inherent risks and uncertainties. A
number of important factors which are difficult to predict and many of which are
beyond the control of the company could cause actual results to differ
materially from those in the forward-looking statements. Forward-looking
statements may be significantly impacted by certain risks and uncertainties,
including, but not limited to, economic or weather conditions affecting future
sales, changes in markets for energy services, changing energy market prices,
legislative and regulatory changes, including revised environmental
requirements, industry restructuring, availability and cost of capital and other
similar factors.
Investor Contacts: Steven M. Schein, VP/Investor Relations, Vectren
(812) 491-4209, sschein@vectren.com
Steve Schrader, General Manager, Investor Relations, Cinergy
(513) 287-1083, sschrader@cinergy.com
Media Contact: Jeffrey W. Whiteside, VP/Corporate Communications, Vectren
(812) 491-4205, jwhiteside@vectren.com
Steve Brash, Manager, External Communications, Cinergy
(513) 287-2226, sbrash@cinergy.com
Jeff Moore, VP/Finance and Administration,
Reliant Services, LLC
(317) 554-5082, jmoore@reliant-services.com
Vectren Corporation, P.O. Box 209, Evansville, IN 47702-0209