NEWS Media Contacts:	Doug Kline	Analyst Contacts:	Mark Fisher 	Enova Corporation		Enova Corporation 	619/696-4292		619/696-2901 	Mike Mizrahi		Clem Teng 	Pacific Enterprises	Pacific Enterprises 	213/244-3030		213/244-3966 ENOVA CORPORATION, PACIFIC ENTERPRISES ANNOUNCE AGREEMENT TO ACQUIRE AIG TRADING CORP. AIG Trading Corp. is 10th largest natural gas marketer Competitively Positions Merged Company in Rapidly 	Changing Energy Marketplace 	For Immediate Release SAN DIEGO/LOS ANGELES (Aug. 7, 1997) - Enova Corporation and Pacific Enterprises (PE) today jointly announced an agreement to acquire AIG Trading Corp., a leading natural gas and power marketing firm, for $190 million. AIG Trading Corp.'s business primarily focuses on wholesale trading and marketing of natural gas, power and oil. It is the 10th largest natural gas marketer in the United States, based on volume. Headquartered in Greenwich, Conn., AIG Trading Corp. is a subsidiary of AIG Trading Group Inc., also based in Greenwich. AIG Trading Corp. will become a subsidiary of the new company to be formed by the merger of PE and Enova that was announced in October 1996. "We are extremely pleased to acquire an energy trading and marketing firm of AIG Trading Corp.'s capability and reputation," said Richard D. Farman, president and chief operating officer, Pacific Enterprises. "AIG Trading Corp. actively trades and markets energy commodities to customers on a national basis and is an excellent strategic fit with the current marketing operationsof Energy Pacific," Farman added. Energy Pacific, a joint venture launched last March by Enova and PE, is an unregulated energy-services company. "This transaction establishes the wholesale commodity trading business necessary to support our retail marketing," said Stephen L. Baum, president and chief executive officer, Enova Corporation. "Now we will have a full portfolio of energy services for our customers." Farman and Baum said, "Each of our companies has reviewed the totality of circumstances surrounding our proposed merger and remain totally committed to its successful completion." Enova and PE will acquire all of the outstanding common stock of AIG Trading Corp. Each company is funding half of the acquisition, which is expected to be accounted for as a purchase. The acquisition will require approval from the Federal Energy Regulatory Commission (FERC) and is expected to be completed before the end of this year. The merger between Enova and PE has been conditionally approved by the FERC and a final decision is expected from the California Public Utilities Commission in March 1998. In 1996, AIG Trading Corp. transactions averaged over 3 billion cubic feet of gas per day. In addition to its Greenwich headquarters, AIG Trading Corp. also has marketing offices in Calgary and Toronto, Canada, and Houston. The company has approximately 90 employees. AIG Trading Corp.'s current management team will remain in place to continue expanding its range of energy trading and marketing businesses under the Enova/PE ownership. Four senior officers of AIG Trading Corp. -- Steven Prince, David Messer, Todd Esse and Frank Gallipoli -- will be principals of the new venture. "By combining our trading and risk management capabilities together with Enova/PE's expertise in the energy business, we expect to be among a small group of companies able to provide a full range of energy products and services for our customers on a national basis," said David Messer, President of AIG Trading Corp. "Enova/PE's management and AIG Trading Corp. share a common vision of tomorrow's energy marketplace," said Steven Prince, chairman and chief executive officer of AIG Trading Corp."We are excited about the opportunity that AIG Trading now has to contribute to Enova/PE's growth as a competitive nationwide energy provider." At closing, PE and Enova will establish a credit facility needed to handle the working capital of AIG Trading Corp. The companies will put in place long-term incentive compensation and retention arrangements, which are expected to involve commitments of up to $35 million. Enova Corporation (NYSE-ENA), based in San Diego, is a leading energy company providing electricity, gas and value-added products and services in the United States and Mexico. Enova is the parent company of SDG&E and six other U.S.-based subsidiaries - Enova Energy, Enova International, Enova Technologies, Enova Financial, Califia and Pacific Diversified Capital. SDG&E serves 1.2 million electricity customers in San Diego and southern Orange County and more than 715,000 natural gas customers in San Diego County. Pacific Enterprises (NYSE-PET) is a Los Angeles-based energy- services company, whose Southern California Gas Co. unit is the nation's largest natural gas distributor, with 4.8 million customers. Pacific Enterprises also has interstate and offshore natural gas pipelines, centralized heating and cooling facilities and natural gas distribution operations in Latin America. Both Enova and PE were assisted in the transaction by outside advisors, including the investment banking firm of Merrill Lynch & Co. AIG TRADING CORP. ACQUISITION FACT SHEET COMPANY BEING ACQUIRED				 AIG Trading Corp. PARENT COMPANY			 AIG Trading Group, Inc., Greenwich, Conn. BUSINESS				 Wholesale gas and power marketing U.S. RANK				 10th largest (natural gas trading volume) VOLUME				 Averaged over 3 bcf/day FOUNDED				 1992 EMPLOYEES				 Approximately 90 HEADQUARTERS			 Greenwich BRANCH OFFICES			 Calgary, B.C., Toronto, Houston OWNERSHIP				 Enova Corporation (50%), Pacific 					 Enterprises (50%) TRANSACTION PRICE			$190 million TERMS OF TRANSACTION		Cash purchase PROJECTED COMPLETION DATE	December 1997 REGULATORY APPROVALS		Federal Energy Regulatory Commission 					 Federal approval under the Hart-Scott- 					 Rodino Act AIG TRADING CORP. MANAGEMENT	 Steven J. Prince 					 Chairman & Chief Executive Officer 					 					 David Messer 					 President 					 Enova Corporation, Pacific Enterprises Announce Agreement to Acquire AIG Trading Corp./Page 5 - - more - - - more -