Niagara Mohawk Holdings advises rejecting ‘mini-tender’ offer

A ‘mini-tender offer’ is an offer for less than 5 percent of a company’s securities. Shares of Niagara Mohawk Holdings’ common stock are traded on the New York Stock Exchange and closed June 5, 2001 at a per share price of $17.46. Arpine Investment Inc.’s tender offer price of $13.75 is 21 percent below the June 5, 2001 closing price. Since the beginning of the year, Niagara Mohawk’s common stock has not traded below $16.62 per share. As of March 31, 2001, there were approximately 160.2 million shares of Niagara Mohawk Holdings common stock outstanding.

FLORHAM PARK, N.J., June 7, 2001 — Comverge Technologies, Inc. today announced that its Maingate(r) gateway system was recognized for excellence in association with Gulf Power’s GoodCents Select energy management program.

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