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26 September 2003 - Dynegy Inc. today announced that it is engaged in exclusive discussions with Exelon Corp. related to a possible sale of Illinois Power Company, Dynegy's regulated energy delivery business.

Any transaction between the parties would be subject to satisfactory completion of Exelon's due diligence, negotiation of final terms and structure, negotiation and execution of definitive agreements, receipt of board of directors and required regulatory approvals and other conditions.

Dynegy does not anticipate making any further announcement about this potential transaction until a definitive agreement is reached or discussions are terminated.

Dynegy Inc. provides electricity, natural gas and natural gas liquids to wholesale customers in the United States and to retail customers in the state of Illinois. The company owns and operates a diverse portfolio of energy assets, including power plants totalling approximately 13 000 MW of net generating capacity, gas processing plants that process more than 2 billion cubic feet of natural gas per day and approximately 40 000 miles of electric transmission and distribution lines.

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