Wisconsin Energy issues 2003 earnings guidance

MILWAUKEE, Oct. 25, 2002 — Wisconsin Energy Corp. at its quarterly conference call today issued preliminary guidance for the company’s 2003 earnings outlook.

WEC expects next year’s earnings to be in the $2.20 to $2.40 per share range. Higher earnings would result if the company is able to sell certain non-utility energy assets early next year.

A more detailed discussion of the 2003 earnings outlook is available on the Wisconsin Energy Web site, www.WisconsinEnergy.com . Click on the icon for the “2002 Third Quarter Conference Call and Web Conference.”

Wisconsin Energy Corp. is a Milwaukee-based holding company with utility and non-utility subsidiaries. The company serves more than one million electric customers in Wisconsin and Michigan’s Upper Peninsula and 970,000 natural gas customers in Wisconsin through its utility businesses — We Energies and Edison Sault Electric.

Its non-utility businesses include energy development, pump manufacturing, waste-to-energy and real estate businesses. Visit the company’s Web site at www.WisconsinEnergy.com .

Source: Wisconsin Energy Corporation

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