MidAmerican-Constellation receive early termination of Hart-Scott-Rodino Act waiting period

Des Moines, IA, and Baltimore, MD, Nov. 4, 2008 — MidAmerican Energy Holdings Co. and Constellation Energy announced early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, related to MidAmerican’s proposed merger with Constellation Energy.

“The clearance of the Hart-Scott-Rodino Act is another step forward in achieving the necessary regulatory approvals required to complete this transaction,” said Gregory E. Abel, president and CEO of MidAmerican.

“We are pleased by the decision and will continue to work closely with MidAmerican to obtain regulatory and shareholder approval of the transaction,” said Mayo A. Shattuck III, chairman, president and CEO of Constellation Energy.

On Sept. 19, MidAmerican and Constellation Energy reached a definitive merger agreement in which MidAmerican will purchase all of the outstanding shares of Constellation Energy for a cash consideration of approximately $4.7 billion, or $26.50 per share. In addition, MidAmerican provided an immediate $1 billion cash infusion to Constellation Energy through the purchase of preferred equity.

The definitive agreement has been approved by both companies’ boards of directors and is subject to, among other things, shareholder and customary federal and state regulatory approvals.

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