Cinergy to Give Employees Home Computers, Internet Access

Business Wire, Dec 18, 2000

Business Editors

CINCINNATI--(BUSINESS WIRE)--Dec. 18, 2000

Cinergy Corp. (NYSE:CIN) announced today that it will provide its employees a computer and subsidized Internet access at a very nominal charge for use at home beginning in 2001.

"Technology is impacting every part of our business, and this is a way we can use it to have our employees and their families become more comfortable with the digital age," said James E. Rogers, chairman, president and CEO. "As the first utility company to begin such a program, it also gives us an interactive channel for exchanging information to deepen our relationships with our employees wherever they may live."

Cinergy is in the process of converting to a "digital utility" allowing employees and customers to access the company over the Internet and do most of their normal business functions. Electric commodity functions were web-enabled this year, and the distribution system should be completed in late 2001. This project is providing leading-edge technology to integrate our energy delivery information systems and standardize our work processes. This initiative is also providing Web-enabled self-service options to our regulated customers for billing, scheduling, enrollment in utility-sponsored programs, outage information and account maintenance.

In the computers for employees program, Cinergy plans to partner with a leading provider of name-brand personal computers and Internet access for the home, along with full 24-hour set-up and technical support. Employees will own the computer, which will be for their own personal and family use. The company will subsidize the Internet connection to give employees unlimited access to the Internet. Cinergy expects to offer this program to its U.S.-based full-time, active employees, including approximately 3,800 in Ohio, 3,100 in Indiana and 600 in Kentucky.

Cinergy Corp. is one of the nation's leading diversified energy companies, with a total enterprise value of $8.5 billion and assets of $10 billion. Cinergy owns or operates nearly 20,000 megawatts of electrical and combined heat plant generation that is either operational or under development domestically and internationally. It also has 55,000 miles of electric and gas transmission lines in the United States and abroad and approximately 9,000 employees in nine countries. Its largest operating companies, The Cincinnati Gas & Electric Company and PSI Energy, Inc., serve more than 1.4 million electric customers and 478,000 gas customers in Indiana, Ohio and Kentucky.

In addition to its U.S. operations, Cinergy owns and operates power generation, transmission and distribution assets in the Czech Republic, Spain, the United Kingdom, Zambia, Kenya, South Africa and Estonia. Cinergy is also active in European gas and electricity markets.