Revision - Massachusetts Electric Company Redemption of Preferred Stock

Business Wire, Sept 22, 1998

WESTBOROUGH, Mass.--(BUSINESS WIRE)--Sept. 22, 1998-- Massachusetts Electric Company (Mass. Electric) announced earlier today that it will call for redemption 600,000 shares of its Preferred Stock - Cumulative, 6.84% Series, on October 31, 1998, at the redemption price of $25.80 per share. The correct number of shares to be called for redemption should have been 192,161 shares, which represents the entire amount outstanding. Shareholders will also be entitled to the regular quarterly dividend for the quarterly period through October 31, 1998.

Mass. Electric is an electricity delivery subsidiary of New England Electric System (NYSE:NES), together with Narragansett Electric Company, Granite State Electric Company and Nantucket Electric Company serving 1.3 million customers in Massachusetts, Rhode Island and New Hampshire.