DYNEGY REASSURES ITS INVESTORS WHILE ENERGY MERCHANTS SEEK REFORMS

Hart's Petroleum Finance Week, November, 2002

Shares of Dynegy Inc. (NYSE: DYN) soared last week when its new president and chief executive officer assured investors that the battered company has ample liquidity to run its business lines. That same day, a coalition of energy company chief risk officers revealed a set of best practices that may make merchant energy companies more attractive to investors.

The market warmly welcomed the comments made by Bruce Williamson - running his first major press conference since taking the reins of Dynegy about a month ago. Shares of the Houston energy merchant rose more than 75 percent on the news, from a close of $0.77 on Nov. 18 to a close of $1.35 the next day. The stock backslid somewhat the next day, closing at $1.15.

"Let me emphasize one point," Williamson said....

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