ADVISORY/California Department of Water Resources to Release Its Revenue Requirement On Sunday.

    News/Assignment Editors
    ADVISORY...for Sunday (July 22)

    --(BUSINESS WIRE)--



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      WHAT: The California Department of Water Resources will release
          its Revenue Requirement on Sunday detailing the Department's
          funding needs to recover its costs for purchasing power.

      WHO:  S. David Freeman, Senior Advisor to the Governor
          B.B. Blevins, Assistant Director for Energy, DWR
          Ron Nichols, Senior Managing Director, Navigant Consulting
           Inc., (Energy Consultant to DWR)
          Joseph S. Fichera, CEO, Saber Partners, Financial Advisor to
           Governor Gray Davis
          Tim Gage, Director, Department of Finance

      WHEN: Sunday, July 22, 2001
          10  a.m.

      Other
      Info: Call-in number is 800/450-0785. No code is necessary.
          The Revenue Requirement and supporting documents will be
          available on DWR's website beginning at 9:45 a.m. at
          www.water.ca.gov.
          The session will be recorded and available as a digitized
          replay from 1:30 p.m. Sunday until 11:59 p.m. Monday.
          Call: 800/475-6701. Access code: 596733.

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    CONTACT: California Department of Water Resources
             Oscar Hidalgo, 916/574-1292

    KEYWORD: CALIFORNIA
    INDUSTRY KEYWORD: GOVERNMENT UTILITIES ADVISORY