EXHIBIT 99.1
[LOGO OMITTED] News Release
NYSE:NOR
Contacts:
Investors/Media:
Roger Schrum
605-978-2848
roger.schrum@northwestern.com
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GARY G. DROOK ELECTED CHIEF EXECUTIVE OFFICER
OF NORTHWESTERN CORPORATION
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MERLE D. LEWIS RETIRES AS CHAIRMAN AND CHIEF EXECUTIVE OFFICER
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SIOUX FALLS, S.D. - Jan. 7, 2003 - NorthWestern Corporation (NYSE:NOR)
announced today that Gary G. Drook, chairman of the company's governance
committee of the board of directors, has been elected interim chief executive
officer. Merle D. Lewis is retiring as chairman of the board and chief
executive officer.
For the past six years, Drook has served as president and chief executive
officer, and remains a director of AFFINA, Inc., a Peoria, Ill., provider of
customer relationship management programs. Prior to joining AFFINA, Drook was
president of Network Services, Enhanced Business Services and Yellow Pages for
Ameritech Corporation where he was responsible for more than 38,500 employees.
He has served as an independent member of NorthWestern's board of directors
since 1998.
"On behalf of the board of directors, I want to thank Merle for his
dedication to NorthWestern as the company has grown and developed under his
leadership," said Drook. "I am honored to be named interim chief executive
officer and look forward to working with NorthWestern's 8,000 team members as we
move the company forward."
Lewis served as NorthWestern's chief executive officer since February 1994
and chairman of the board since May 1998. He joined the company in 1976 and was
elected to the board of directors in 1993.
"It has been an honor to work for more than 26 years at NorthWestern, and I
remain committed to the company," said Lewis. "I am retiring from NorthWestern
with pride, knowing that we've assembled a superb team of hard working,
energetic people that are dedicated to the future success of the company."
NorthWestern also announced that Marilyn R. Seymann has been elected interim
non-executive chairman of the board of directors and chairman of the board's
governance committee. Seymann is president and chief executive officer of M ONE,
Inc., a financial services consulting firm in Phoenix, Ariz. Seymann has served
on NorthWestern's board of directors since 2000.
NorthWestern Corporation is a leading provider of services and solutions to
more than 2 million customers across America in the energy and communications
sectors. NorthWestern's partner businesses include NorthWestern Energy, a
provider of electricity, natural gas and related services to customers in
Montana, South Dakota and Nebraska; Expanets, the largest mid-market provider of
networked communications solutions and services in the United States; and Blue
Dot, a leading provider of air conditioning, heating, plumbing and related
services.
Forward-Looking Statements
STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: All
statements contained herein, as well as statements made in press releases and
oral statements that may be made by us or by officers, directors or employees
acting on our behalf, that are not statements of historical fact constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause our actual
results to be materially different from historical results or from any future
results expressed or implied by such forward-looking statements. Among the
factors that could cause our actual results or outcomes to differ materially
are: the adverse impact of weather conditions and seasonal fluctuations;
unscheduled generation outages, maintenance or repairs; unanticipated changes to
fossil fuel or gas supply costs or availability due to higher demand, shortages,
transportation problems or other developments; developments in the federal and
state regulatory environment and the terms associated with obtaining regulatory
approval and rate orders; costs associated with environmental liabilities and
compliance with environmental laws; the rate of growth and economic conditions
in our service territories and those of our subsidiaries; the speed and degree
to which competition enters the industries and markets in which our businesses
operate; the timing and extent of changes in interest rates and fluctuations in
energy-related commodity prices; risks associated with acquisitions, transition
and integration of acquired companies, including NorthWestern Energy, L.L.C. and
the Growing and Emerging Markets Division of Lucent Technologies, Inc., and the
implementation of information systems and realization of efficiencies in excess
of any related restructuring charges; a lack of minority interest basis, which
requires us to recognize an increased share of operating losses at certain of
our subsidiaries; our ability to recover transition costs; disallowance by the
Montana Public Service Commission of the recovery of the costs incurred in
entering into our default supply portfolio contracts while we are required to
act as the "default supplier"; disruptions and adverse effects in the capital
market due to the changing economic environment; our credit ratings with
Moody's, Standard & Poor's and Fitch; potential delays in financings or
Securities and Exchange Commission filings because we changed auditors; our
substantial indebtedness, which could limit our operating flexibility and
ability to borrow additional funds; our ability to obtain additional capital to
refinance our indebtedness that is scheduled to mature and for working capital
purposes; changes in customer usage patterns and
preferences; possible future actions and developments of CornerStone Propane
Partners L.P.; and changing conditions in the economy and capital markets and
other factors identified from time to time in our filings with the SEC. This
news release should be read in conjunction with our Annual Report on Form 10-K
for 2001, as amended, and any subsequent quarterly reports on Form 10-Q and
current reports on Form 8-K, which can be located at www.sec.gov or requested
from the Company.
Any forward-looking statement speaks only as of the date on which such
statement is made, and, except as required by law, we undertake no obligation to
update any forward-looking statement to reflect events or circumstances after
the date on which such statement is made or to reflect the occurrence of
unanticipated events. New factors emerge from time to time, and it is not
possible for management to predict all such factors.
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