Fitch U.S. Utilities Teleconference Today, 2 p.m. EDT.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 8, 2003

Fitch Ratings will be hosting a teleconference this afternoon at 2:00 p.m. EDT to discuss issues addressed in the group's quarterly newsletter, published today, and field questions on various developments within the U.S. power and gas markets. Managing Director Richard Hunter will be the call leader.

Topics to be addressed by Fitch analysts include:

-- Factors affecting the a discussion on rating linkage and ring-fencing between regulated and unregulated entities in the U.S. utility sector;

-- Progress made by distressed energy companies in the current round of bank loan refinancings;

-- Fitch's preliminary view on clearing gas and power contracts;

-- Federal Energy Regulatory Commission's (FERC) recent orders and reports on the western market.

A question-and-answer session will immediately follow.

Callers inside the U.S. please call 877/897-0442. Callers outside the U.S. please call 706/643-7396. All participants should dial in five minutes prior to the 2:00 p.m. EDT start time and give the title of the call 'Fitch Ratings' or the passcode '9596000'.

Interested parties who are unavailable for the teleconference will be able to hear a replay of the call starting this afternoon at 5:00 p.m. EDT until April 15 at 11:00 p.m. EDT. Callers inside the U.S. please call 800/642-1687. Callers outside the U.S. please call 706/645-9291. The access code is '9596000'.

Additionally, a replay of the teleconference will be archived on the Fitch Ratings web site for one month. Interested parties can find the appropriate link at the 'Company Events & Online Media' link, which is located under the heading 'About Fitch' at 'www.fitchratings.com'.

'Global Power Quarterly', Fitch's quarterly publication that discusses trends within the power and gas markets in the United States and worldwide, is available on the Fitch Ratings web site at 'www.fitchratings.com'.