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                                                                    EXHIBIT 99-1


AMEREN NEWS RELEASE


CONTACT:

MEDIA:
Susan Gallagher
(314) 554-2175

INVESTOR:
Lynn Barnes
(314) 554-4829

    UNION ELECTRIC COMPANY AND CIPSCO INCORPORATED COMPLETE MERGER TO CREATE
                               AMEREN CORPORATION

St. Louis, MO, and Springfield, IL, Dec. 31, 1997---Union Electric Company and
CIPSCO Incorporated -- two financially strong Midwest utilities--today
announced the completion of their merger.

   The combination creates Ameren Corporation (NYSE: AEE).  With assets of
approximately $9 billion, Ameren is parent of Union Electric (now known as
AmerenUE) and Central Illinois Public Service Company (now known as
AmerenCIPS).

   Ameren companies serve 1.5 million electric customers and 300,000 natural
gas customers in a 44,500-square mile area of Missouri and Illinois.  The new
holding company and AmerenUE are based in St. Louis; the headquarters of
AmerenCIPS remains in Springfield, IL.

   With the completion of the merger, shares of the new company began trading
on the New York Stock Exchange.  The two companies signed a definitive merger
agreement in 1995 in a transaction valued now at approximately $1.4 billion.
The market capitalization of Ameren is approximately $5.3 billion.

   "It is an understatement to say that we are extremely pleased our merger has
been approved.  Our employees have demonstrated creativity and dedication to
make this merger a reality,"  said Charles W. Mueller, chairman, president and
chief executive officer of Ameren Corporation.  "As we said two years ago and
we believe even more firmly today, this merger brings together two high
quality, low-cost energy providers who have customer-focused philosophies and a
solid position in their respective markets."

                                    --more--
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   CIPSCO President and Chief Executive Officer Clifford L. Greenwalt, who
retires Dec. 31, 1997, cited the two companies' focus on their core energy
business and the $759 million in merger savings expected over the next 10 years
as strengths in an increasingly competitive environment.

   Holders of Union Electric common stock receive one share of the new holding
company common stock (AEE) for each Union Electric share (NYSE: UEP) they hold.
Holders of CIPSCO common stock (NYSE: CIP) receive 1.03 shares of the holding
company common stock.  (CIPSCO Incorporated was the parent company of Central
Illinois Public Service Company.)  Upon completion of the merger, Ameren has
approximately 137 million common shares outstanding.

   Ameren is expected to adopt Union Electric's annual common share dividend
payment level (UE's current annual dividend is $2.54 per share).

   The new holding company's 15-member board of directors includes 10 members
from Union Electric, with Mueller as chairman of the board, and five from
CIPSCO, including Greenwalt.

   The final of six regulatory approvals for the merger came from the
Securities and Exchange Commission on Dec. 31, 1997.  Other regulatory 
approvals were obtained from the Federal Energy Regulatory Commission, the 
Illinois Commerce Commission, the Missouri Public Service Commission, 
Hart-Scott-Rodino Filing/Federal Trade Commission and Department of Justice, 
and the Nuclear Regulatory Commission.

   Shareholders of both companies approved the agreement Dec. 20, 1995.

   The preferred stock of Union Electric Company and Central Illinois Public
Service Company remains outstanding.