Connecticut Energy Corp. subsidiary announces a marketing alliance between CNE Energy and Standard Oil of Connecticut

Business Wire, Oct 28, 1996

BRIDGEPORT, Conn.--(BUSINESS WIRE)--Oct. 28, 1996--Larry S. McGaughy, President of CNE Energy Services Group Inc. (CNE Energy) announced today the formation of a marketing alliance with Standard Oil of Connecticut.

The two companies will jointly market natural gas and petroleum products to commercial, industrial and municipal customers throughout Connecticut.

CNE Energy is a wholly-owned, unregulated subsidiary of Connecticut Energy Corp. (CNE-NYSE), a holding company primarily engaged in the retail distribution of natural gas to residential, commercial and industrial customers through its regulated subsidiary, The Southern Connecticut Gas Company. CNE Energy was formed in December 1995 to market energy and energy-related products and services to customers throughout New England.

Standard Oil of Connecticut and its affiliated companies are primarily engaged in the distribution of oil to residential, commercial and industrial customers throughout Connecticut. Standard also markets gasoline and diesel fuels, provides sales and maintenance of energy-related equipment and markets security system services to a wide range of customers.

"Our marketing alliance with CNE Energy now allows us to offer natural gas service to our oil customers who presently use both fuels," said David S. Cohen, Executive Vice President of Standard Oil of Connecticut. "We definitely view this as a way for our Company to successfully compete in the newly deregulated natural gas market in Connecticut."

"Standard Oil's partnership with CNE Energy greatly enhances our joint ability to offer a full array of energy options and services to commercial, industrial and municipal customers," said McGaughy. "Having a highly respected and successful business partner like Standard Oil gives us a distinct competitive advantage in an energy marketplace which will soon be open to electric competition in Connecticut."

Connecticut Energy and Standard Oil of Connecticut have a total of over 250 years of successful energy-related business experience in Connecticut. Their new marketing alliance will have the same commitment to customer needs and customer satisfaction that has characterized each partner throughout the years.

Connecticut Energy Corp. is a holding company primarily engaged in the retail distribution of natural gas through its wholly owned subsidiary, The Southern Connecticut Gas Co. (Southern). Southern delivers natural gas in 22 Connecticut communities to approximately 157,000 customers which represent approximately 191,000 end users, including more than 175,000 residential units. Through its subsidiary, CNE Energy Services Group Inc., the Company also provides an array of energy services to commercial and industrial customers throughout New England, from installation and maintenance of equipment to procuring the most cost effective energy commodity. Connecticut Energy's other non-regulated subsidiaries are Connecticut Energy Development Corp., which is involved with large volume natural gas supply purchases, and CNE Venture-Tech Inc., which will participate in ventures offering information technology for utility operations.

CONTACT: Connecticut Energy Corp., Bridgeport

Romilda R. Anderson, 203/382-8245