Dominion Comments on Recent Merger Rumors.Energy Editors/Business Editors RICHMOND, Va.--(BUSINESS WIRE)--April 1, 2003 Dominion (NYSE NYSE See: New York Stock Exchange : D) today denied rumors For other uses, see Rumor (disambiguation). Rumors is a farcical play by Neil Simon. At its start, several affluent couples gather in the posh suburban residence of a couple for a dinner party celebrating their tenth anniversary. that surfaced in the market yesterday saying that Dominion is seeking to acquire another energy company. Thos. E. Capps, chairman, president and chief executive officer said: "We usually do not comment on market rumors, but in this case we are making an exception. We are not currently in discussions with anyone regarding an acquisition. This latest rumor RUMOR. A general public report of certain things, without any certainty as to their truth. 2. In general, rumor cannot be received in evidence, but when the question is whether such rumor existed, and not its truth or falsehood, then evidence of it may be given. appears to have come from the usual source - people attempting to make a quick buck by spreading false rumors. We do not like the idea of hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" or traders making a quick buck at our shareholders' expense." Dominion is one of the nation's largest producers of energy, with an energy portfolio of about 24,000-megawatts of generation, 6.1 trillion cubic feet equivalent of natural gas reserves, 7,900 miles of natural gas transmission pipeline and the nation's largest underground natural gas storage system with more than 960 billion cubic feet of storage capacity. Dominion also serves 3.9 million franchise natural gas and electric customers in five states. In addition, Dominion owns a managing equity interest in Dominion Fiber Ventures LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , owner of Dominion Telecom. For more information about Dominion, visit the company's web site at www.dom.com. |
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