GPU-FirstEnergy merger discussions to continue in New Jersey

MORRISTOWN, N.J., Aug. 13, 2001 – GPU, Inc. announced today that the administrative law judge hearing the case concerning GPU’s proposed merger with FirstEnergy Corp. for the New Jersey Board of Public Utilities authorized the parties to continue their discussions.

The companies are hopeful that they will finalize an agreement with the other major parties on the conditions for the merger soon.

GPU, Inc., headquartered in Morristown, NJ, is a registered public utility holding company providing utility and utility-related services to customers throughout the world. GPU serves 4.6 million customers directly through its electric companies – GPU Energy in the U.S., GPU Power UK in England, and Emdersa in Argentina. It serves an additional 1.4 million customers indirectly through GPU GasNet, its gas transmission subsidiary in Australia.

The company’s independent power project business units own interests in and operate seven projects in five countries. GPU’s 2000 revenues were $5.2 billion and its total assets were more than $19 billion. GPU’s other subsidiaries include MYR Group Inc., GPU Advanced Resources, Inc., GPU Nuclear, Inc., GPU Service, Inc. GPU Telcom Services, Inc. and GPU Diversified Holdings LLC. (http://www.gpu.com).

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