DPL Redeems $500 Million of Senior Notes.

Energy Editors/Business Editors

DAYTON, Ohio--(BUSINESS WIRE)--April 6, 2004

DPL Inc. (NYSE:DPL) announced that it has redeemed $500 million of DPL Senior Notes 6.82% Series that matured today. Existing liquidity, which included $175 million obtained through private placement of Senior Notes on March 25, 2004, was used to redeem these notes.

"We are pleased to have exceeded our previously announced debt reduction target well in advance of our year-end 2005 goal," said Caroline E. Muhlenkamp, Group Vice President and Interim Chief Financial Officer. "This ability to strengthen our financial position, including an estimated $20 million in annual interest savings, is driven by the performance of DPL's core utility operations and financial asset portfolio. To make this happen, the portfolio provided $202 million towards the pay down, while the Company's core operations contributed $123 million."

About DPL

DPL Inc. is a diversified, regional energy company. DPL's principal subsidiaries include The Dayton Power & Light Company (DP&L) and DPL Energy. DP&L provides electric services to over 500,000 retail customers in West Central Ohio. DPL Energy markets over 4,600 megawatts of generation capacity throughout the eastern United States. DPL Inc., through its subsidiaries, ranks among the top energy companies in generation efficiency and productivity. Further information on DPL Inc. can be found at www.dplinc.com.

Certain statements contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Matters presented which relate to events or developments that are expected to occur in the future, including management's expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters constitute forward-looking statements. Forward-looking statements are based on management's beliefs, assumptions and expectation of the Company's future economic performance, taking into account the information currently available to management. These statements are not statements of historical fact. Such forward-looking statements are subject to risks and uncertainties and investors are cautioned that outcomes and results may vary materially from those projected due to many factors beyond DPL's control. Forward-looking statements speak only as of the date of the document in which they are made. We disclaim any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in our expectations or any change in events, conditions or circumstances on which the forward-looking statement is based.