Cinergy Announces Organizational Changes.

Business Editors

CINCINNATI--(BUSINESS WIRE)--Sept. 27, 2001

Cinergy Corp. (NYSE:CIN) today announced several organizational changes, including a new president for its subsidiary, The Cincinnati Gas & Electric Co., to be effective October 1, 2001.

"Our industry continues to change at an unprecedented pace, and we must continue to refine our organization to address the evolution of today's energy industry," said James E. Rogers, vice chairman, president and chief executive officer. "These changes are part of an on-going process to increase our effectiveness and the speed at which we can respond to developments in the industry."

James L. Turner will have full responsibility for the Regulated Businesses organization and will retain the title of president, Regulated Businesses.

Gregory C. Ficke will become president of Cincinnati Gas & Electric, succeeding Joe Hale, who remains vice president of Corporate Communications and president of the Cinergy Foundation. As announced yesterday, Larry E. Thomas and Douglas F. Esamann have been named vice chairman and president, respectively, of PSI Energy, Inc.

William J. Grealis will become executive vice president, special projects, and will be responsible for coordinating company initiatives on major issues. He was CEO of Regulated Businesses.

Donald B. Ingle Jr., will have responsibility for Infrastructure Services and its portfolio companies, VESTAR, Cadence, Reliant and Lattice. He will retain the title of President, Infrastructure Services.

Ficke is currently vice president and chief information officer of Regulated Businesses for Cinergy. He joined CG&E in 1978 and has served in a number of capacities. Prior to the merger to form Cinergy, he was manager of environmental services for CG&E. At Cinergy, he has served as vice president of gas operations and had responsibility for a corporate-wide reengineering effort. He is also a member of the board of trustees of the Clovernook Center for the Blind.

Ficke holds an engineering degree from Ohio State University, an MBA from the University of Cincinnati and a law degree from the Chase College of Law at Northern Kentucky University. He also completed the advanced management program at Harvard Business School.

"Greg's background in operations and environmental matters provide him with the experience needed to help shape energy policy in Ohio and Kentucky," said Rogers. "He has demonstrated an ability to manage complex issues and projects while working with internal and external stakeholders to develop effective solutions."

Cinergy/CG&E serves approximately 800,000 electric and 500,000 gas customers in southwestern Ohio and northern Kentucky. Cinergy Corp., one of the nation's leading diversified energy companies, has a focused strategy intent on growing its energy merchant business. Its energy merchant business owns, operates or has under development about 21,000 megawatts of generation. Cinergy has the sixth largest electricity trading organization in the U.S. as well as physical and financial gas trading capabilities of 45 bcf/day. The "into Cinergy" power trading hub is the most liquid trading hub in the United States. Cinergy's energy merchant business operates in several regions of the U.S. and is based on a profitable balance of asset development, customer origination, marketing and trading, and industrial-site cogeneration infrastructure development.