Fitch Teleconference Today: 2005 Outlook for US Power and Gas Sector.

NEW YORK -- Fitch's Global Power Group will host a teleconference today, Dec. 14 at 11:00 a.m. EST, to preview the release of its 'Review and Outlook 2005' report for the United States. The report and teleconference will highlight key issues that will affect credit ratings in the near and intermediate term. These issues include: a renewed emphasis on earnings and dividend growth, gas price and market volatility, environmental compliance cost pressures and the short shelf life of 'back to basics' strategy.

A question-and-answer session to discuss the sector outlook and credit issues facing individual companies will immediately follow. Participants are invited to send questions in advance by email to '[e-mail]'. Listeners will also be able to participate in a question-and-answer session during the call.

U.S. participants should call [phone] and international participants should call [phone]. All participants should dial in five minutes prior to the start time and give the title of the call as 'Fitch Ratings.'

Interested parties who are not available for the teleconference will be able to hear a replay of the call starting at 6:00 p.m. EST  on Dec. 14 until Dec. 23, 11:30 p.m. EST. To access the replay, listeners should dial [phone] or [phone] for non-U.S. listeners. The conference ID number is '1108925.'

In addition, a replay of the teleconference will be archived on the Fitch web site for one month at 'www.fitchratings.com'. Interested parties can find the appropriate link at 'Company Events & Online Media,' which is located under the heading 'About Fitch.' If you would like to participate, please e-mail '[e-mail]'.

The outlook report will be posted at 'www.fitchratings.com' during the week of Dec. 13.