Dynegy Completes Scheduled Maintenance of Power Generation Units; Power generation fleet ready to meet demand during summer cooling season

Business Wire, June 5, 2006

HOUSTON -- Dynegy Inc. (NYSE:DYN) today announced that it has completed its scheduled maintenance on its power generation fleet and that the company's plants are available to accommodate summertime demand.

"Dynegy's strong operational performance and our ability to achieve high levels of in-market availability would not be possible without our operational focus on thorough plant inspections and the completion of scheduled maintenance activities," said Stephen A. Furbacher, President and Chief Operating Officer of Dynegy Inc. "The commitment of our employees and contractors to complete these projects in a safe, timely and cost-efficient manner helps us capitalize on market opportunities during the summer cooling season, when demand for electricity is historically at its greatest."

Dynegy's major scheduled maintenance, which began in early April and was completed on June 3, involved eight power generation units at facilities located in three states. Various other units were the focus of inspections and minor work of a shorter duration.

Dynegy Inc. produces and sells electric energy, capacity and ancillary services in key U.S. markets. The company's power generation portfolio consists of more than 12,800 megawatts of baseload, intermediate and peaking power plants fueled by a mix of coal, fuel oil and natural gas. DYNC

Certain statements included in this news release are intended as "forward-looking statements." These statements include assumptions, expectations, predictions, intentions or beliefs about future events, particularly the statements concerning demand levels for electricity and Dynegy's ability to meet such demand, its ability to deliver power timely, safely and cost-efficiently to capitalize on market opportunities and statements concerning Dynegy's operational performance. Dynegy cautions that actual future results may vary materially from those expressed or implied in any forward-looking statements. Some of the key factors that could cause actual results to vary materially from those targeted, expected or implied include: changes in commodity prices; changes in market opportunities; the effects of competition on Dynegy's results of operations; the effects of weather on Dynegy's asset-based businesses and the demand for Dynegy's products and services; Dynegy's ability to operate its businesses efficiently; operational factors affecting Dynegy's assets, including blackouts or other unscheduled outages; the availability, ability to consummate, and effects of growth opportunities for Dynegy's power generation business; and uncertainties regarding environmental regulations and litigation and other legal or regulatory developments affecting Dynegy's businesses. More information about the risks and uncertainties relating to these forward-looking statements is found in Dynegy's SEC filings, including its Annual Report on Form 10-K for the year ended Dec. 31, 2005, as amended, and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2005, which are available free of charge on the SEC's web site at http://www.sec.gov. Dynegy expressly disclaims any obligation to update any forward-looking statements contained in this news release to reflect events or circumstances that may arise after the date of this release, except as otherwise required by applicable law.