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HAGERSTOWN, MD., Feb. 10, 2004 -- Allegheny Energy, Inc. announced that Frank A. Metz, Jr., 70, a member of the Board of Directors since 1984, has announced his retirement. Michael H. Sutton was appointed by the Board of Directors to fill the term of Metz, which is to expire in 2005.
Metz is a former Senior Vice President and Director of International Business Machines Corporation. He has also served as a Director of Monsanto Company and Norrell Corporation and currently serves as a Director of Solutia, Inc.
"I would like to thank Frank for his dedicated leadership and service to our Company as a director over the last 20 years. Both the Board of Directors and Allegheny Energy appreciate his many contributions and guidance. I wish him the best in his retirement," said Paul J. Evanson, Chairman and CEO of Allegheny Energy.
Sutton was Chief Accountant of the Securities and Exchange Commission (SEC) from 1995 to 1998, serving as the principal advisor to the commission on accounting and auditing matters with responsibility for formulating commission policy on financial accounting and reporting by public companies. Previously, he was National Director, Accounting and Auditing Professional Practice, of Deloitte & Touche and a senior partner in the firm.
Presently, Sutton is an independent consultant concentrating on accounting and auditing regulation and related professional issues. He has lectured at the Graduate School of Business of the College of William & Mary, and, in 2003, he was elected to the Board of Trustees of the MainStay Funds.
"I am delighted to welcome Mike Sutton to Allegheny's Board. With his broad experience in regulatory and corporate financial matters, including his tenure at the SEC, he is the perfect candidate to provide us with strong independent guidance in facing Allegheny's many challenges," Evanson said.
Allegheny Energy is an integrated energy company with a portfolio of businesses, including Allegheny Energy Supply, which owns and operates electric generating facilities, and Allegheny Power, which delivers low-cost, reliable electric and natural gas service to about four million people in Pennsylvania, West Virginia, Maryland, Virginia and Ohio. More information about the Company is available at www.alleghenyenergy.com.
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