IPE to launch electricity trading March 19

HOUSTON, Feb. 21, 2001–The UK’s International Petroleum Exchange (IPE) will launch its electricity futures contract March 19, subject to government confirmation expected March 16.

ALBANY, N.Y. and ROCHESTER, N.Y., Feb. 20, 2001 (PRNewswire) – Energy East Corporation (NYSE: EAS) and RGS Energy Group, Inc. (NYSE: RGS) today announced that their boards of directors have unanimously approved a definitive merger agreement, under which all of the outstanding shares of RGS Energy will be exchanged for a combination of cash and Energy East stock valued at $39.50 per RGS Energy share or approximately $1.4 billion in the aggregate. Energy East will also assume approximately $1.0 billion of RGS Energy debt. Energy East intends to finance the cash portion of the transaction primarily through third party financing.

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