July 20, 2006
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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KeySpan Corporation
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The following communication is being distributed to all KeySpan Corporation
employees through internal email system.
To: KeySpan Employees
From: Mike Jesanis and Bob Catell
Re: Culture Integration - Assessment Process
Date: July 20, 2006
This communication will be the first of many that will discuss the importance of
creating a new culture as part of the successful integration of National Grid
and KeySpan. As we move forward with our integration work, a critical element in
our success will be our ability to develop this unified culture. While we know
that there will be differences between the entities (and even within them), it
is essential that we merge not only our operations, but also our organizational
values and norms of behavior.
In order for us to do that, we must be well informed as to the current culture
you work within and also your thinking about the desired culture for the new
enterprise. We want to hear from people representing all groups within our
organizations - both union and management.
To facilitate this effort, we are working with the HayGroup, a global management
consulting firm, to assist in this culture integration. Hay has a tool called
"Culture-Sort" that we will be asking a broad cross-section of people to
complete as part of this process. The tool is on-line, easy to use and actually
fun to complete. The tool asks you to take 56 dimensions of culture that Hay has
benchmarked as being important in successful cultures and place them on a normal
curve of importance in the current culture (either National Grid or Keyspan).
The tool then asks you to do the same process again but, this time, to place the
attributes on the curve based on the ideal new culture - what you want the
integrated company to look like.
Please be assured that all of this data is completely anonymous. We will see
only aggregate reports, no individual information. The data will be analyzed by
Hay to determine the key areas of culture that are similar and where differences
exist. Focus groups will also be held. At that point, Hay will present the model
of the desired culture for final discussion and approval. We will then lead a
series of meetings within the company to develop specific areas and approaches
to mange the change, such as large group meetings, alignment sessions,
communications, etc.
In order to complete the Culture-Sort, many of you will be receiving an email
directly from Hay with log-in information. If you have any questions or
concerns, please contact Ruth Bramson at 508-389-3400 or Elaine Weinstein at
718-403-2349 at KeySpan.
We appreciate your involvement in this important process. We know that managing
change is always stressful. However, working together, we can create a positive,
effective work environment for our new organization.
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Additional Information and Where to Find It
- -------------------------------------------
In connection with the proposed merger, the Company has filed a definitive proxy
statement with the Securities and Exchange Commission. BEFORE MAKING ANY VOTING
OR INVESTMENT DECISION, THE COMPANY STOCKHOLDERS ARE URGED TO READ THE
DEFINITIVE PROXY STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE
PROPOSED MERGER. The definitive proxy statement is also available free of charge
at the Securities and Exchange Commission's website, www.sec.gov, and
stockholders of the Company are also able to obtain additional copies of the
definitive proxy statement free of charge by directing their requests to KeySpan
Corporation One MetroTech Center, Brooklyn, New York 1120-3850.
The Company and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from its stockholders in connection
with the proposed merger. Information concerning the interests of the Company's
participants in the solicitation is set forth in the Company's proxy statements
and Annual Reports on Form 10-K, previously filed with the Securities and
Exchange Commission, and in the definitive proxy statement relating to the
merger.
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