FROM: ROBERT J. LOPATTO RELEASE: UPON RECEIPT PHONE: 717-829-8814 PG ENERGY COMPLETES SELF TENDER OFFERS WILKES-BARRE, PA, April 10, 1996 -- PG Energy Inc. ("PGE"), announced today that its self tender offers for its Depositary Preferred Shares (Trading Symbol: PGWCZ) and 4.10% Cumulative Preferred Stock (Trading Symbol: PGWCP) expired at 5:00 p.m., New York City time, on Tuesday, April 9, 1996. Based on a preliminary count at the time of expiration, PGE said that it expects to purchase approximately 515,000 Depositary Preferred Shares (approximately 4,000 of which were delivered pursuant to the guaranteed delivery procedure), at a price of $27.00 per share and approximately 18,700 shares of its 4.10% Cumulative Preferred Stock (approximately 150 of which were delivered pursuant to the guaranteed delivery procedure), at a price of $50.00 per share. PGE said that the determination of the actual number of shares to be purchased is subject to final confirmation of proper delivery of all shares tendered and not withdrawn. Payment for the shares accepted, and return of all other shares tendered but not accepted, will occur as promptly as practicable, according to PGE. PGE provides natural gas to approximately 142,000 customers in ten counties in northeastern Pennsylvania.