Allegheny Energy Appoints New General Counsel.Energy Editors/Business Editors HAGERSTOWN, Md.--(BUSINESS WIRE)--July 22, 2003 Allegheny Energy Allegheny Energy (NYSE: AYE) is a traditional public utility based in the Pittsburgh suburb of Greensburg. It services communities in Western Pennsylvania, Western Maryland, Northern West Virginia, Northwest Virginia. , Inc. (NYSE NYSE See: New York Stock Exchange : AYE) announced today that David B. Hertzog, a partner at the law firm of Winston & Strawn, has been named Vice President and General Counsel of Allegheny Energy, effective July 28, 2003. He succeeds Thomas K. Henderson, formerly Vice President and General Counsel. Paul J. Evanson, Allegheny Energy's Chairman, President, and Chief Executive Officer, said, "David's strong legal background, with extensive experience in corporate finance, accounting, and securities laws, will be a great benefit to Allegheny. We welcome him to our team." Mr. Hertzog joined Winston & Strawn as a partner in 1999. His professional experience includes work in public and private financial transactions, securities transactions, including securities investigatory matters, and merger and acquisition transactions. He also has an extensive background in accounting, including advising on various accounting issues in financial transactions. Previously, Mr. Hertzog was managing partner of the law firm of Hertzog, Calamari and Gleason for 23 years and, prior thereto, was with Cravath Swaine & Moore. He is a graduate of the University of Pennsylvania's Wharton School of Finance and Commerce, where he earned a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in 1966. He received his Juris Doctorate, cum laude, from New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the in 1969. Mr. Hertzog is a member of the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Bar, as well as the American Bar Association American Bar Association (ABA), voluntary organization of lawyers admitted to the bar of any state. Founded (1878) largely through the efforts of the Connecticut Bar Association, it is devoted to improving the administration of justice, seeking uniformity of law and The Association of the Bar of the City of New York The Association of the Bar of the City of New York, also known as the New York City Bar, was established in 1871. The association has about 19,435 members. The House of the Association, at 42 West 44th Street, was built in 1896 and is a registered landmark. . Consistent with the revised New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. listing standards recently approved by the U.S. Securities and Exchange Commission, Allegheny Energy stated that Mr. Hertzog will receive an inducement award of 300,000 stock units on January 2, 2004. The number of units is subject to upward adjustment, based on Allegheny Energy's stock price, pursuant to a formula summarized in a report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , which Allegheny Energy is filing with the SEC. One-fifth of the units vest on each of July 18, 2004, July 18, 2005, July 18, 2006, July 18, 2007, and July 18, 2008. Payment of the units will be made in either shares of Allegheny Energy stock or in cash, as will be determined by the Company. With headquarters in Hagerstown, Md., Allegheny Energy is an integrated energy company with a balanced portfolio of businesses, including Allegheny Energy Supply, which owns and operates electric generating facilities and supplies energy and energy-related commodities; and Allegheny Power, which delivers low-cost, reliable electric and natural gas service to about three million people in Maryland, Ohio, Pennsylvania, Virginia, and West Virginia. More information about the Company is available at www.alleghenyenergy.com. Certain statements contained herein constitute forward-looking statements with respect to Allegheny Energy, Inc. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Allegheny Energy to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors may affect Allegheny Energy's operations, markets, products, services, prices, capital expenditures, development activities, and future plans. Such factors include, among others, the following: changes in general, economic, and business conditions; changes in the price of electricity and natural gas; changes in industry capacity; changes in technology; changes in financial and capital market conditions; changes in political and social conditions, deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. activities and the movement toward competition in the states served by our operations; the effect of regulatory and legislative decisions; regulatory approvals and conditions; the loss of any significant customers; litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; and changes in business strategy or business plans. |
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