Business Services Industry

System Energy Resources, Inc. Receives Tenders for 88% of Bonds; Announces Extension and Anticipated Purchase Price for Tender Offer Invitation

Business Wire, May 6, 1999

NEW ORLEANS--(BUSINESS WIRE)--May 6, 1999--

To Holders of Claiborne County, Mississippi 7.30% Pollution

Control Revenue Refunding Bonds (System Energy Resources, Inc.

Project) Series 1995 CUSIP No. 179423 AJ7

System Energy Resources, Inc. (the "Company"), a wholly-owned subsidiary of Entergy Corporation (NYSE:ETR), announced today that, in response to its April 15, 1999 tender offer invitation to holders of the above referenced Bonds (the "Invitation"), more than 88% of the Bonds have been offered for sale to the Company. The Company has also announced that it has extended the expiration of the Invitation to 5:00 p.m. New York City time on Wednesday, May 12, 1999. All other terms and conditions of the Invitation remain in effect. Prudential Securities is the Dealer Manager for the Invitation.

The Company currently anticipates that it will agree to purchase all Bonds offered at or below the maximum acceptable offering price of $105.50 per $100 principal amount of Bonds purchased, plus accrued interest to the settlement date.

The Company's obligation to purchase Bonds tendered and accepted pursuant to the Invitation is conditioned upon the issuance of refunding bonds to finance a major portion of the purchase price of the Bonds to the Company.

Bondholders who wish to offer to sell their Bonds pursuant to the Invitation, but who have not previously offered to sell their Bonds to the Company, should submit a Letter of Transmittal to ChaseMellon Shareholder Services, L.L.C. (the "Depositary") no later than 5:00 p.m. New York City time on Wednesday, May 12, 1999.

Any Bondholder who previously submitted a Letter of Transmittal may specify a new minimum offering price lower than its original offer price. The Depositary must receive a written or facsimile transmission of the "Change in Offer Price Form" prior to any purchase by the Company. Bondholders can obtain a Change in Offer Price Form from the Information Agent, the Dealer Manager or from the Internet at http://www.prusec.com/sysinvite.htm.> The Company reserves the right in the future to announce that the Invitation will expire earlier than May 12, 1999. The Company also reserves the right, in its sole discretion, in the future to announce that the Invitation will expire later than May 12, 1999. In addition, the Company reserves the right to purchase Bonds at prices greater than or less than the anticipated maximum purchase price stated above for any reason. Notice of any such additional announcement of early expiration or extension of the Invitation, or of any change in proposed purchase price, will be given through the Munifacts Wire System and the Dow Jones News Service. All Bonds offered to the Company for purchase pursuant to the Invitation, but not accepted for purchase, will be released by the Depositary no later than June 30, 1999.

The Dealer Manager for the Invitation is Prudential Securities. The Information Agent is ChaseMellon Shareholder Services, L.L.C.