GPU Announces Baldassari's Resignation.

MORRISTOWN, NJ--(BUSINESS WIRE)--Sept. 15, 1999--

GPU announced today that Dennis P. Baldassari will resign his current position as president and chief operating officer of GPU Energy at the end of this month and will be leaving GPU to pursue other interests. Baldassari has served as the president of GPU Energy since it was created in 1996 by combining GPU's three electric transmission and distribution companies. Prior to this, he served as president of Jersey Central Power & Light, GPU's New Jersey electric company.

"Dennis has been a valuable member of the management team at GPU for many years," said Fred D. Hafer, chairman, president and chief executive officer of GPU, Inc. "We are grateful for his contribution and wish him well in his future endeavors."

GPU has begun a search for a replacement for Baldassari to run GPU Energy, a $3.4 billion business unit. Robert L. Wise, president of GPU's generation and independent power subsidiaries, will assume the presidency of GPU Energy on an interim basis during the transition.

GPU is pursuing a business plan of balanced growth in the domestic and international infrastructure business, related, non-regulated ventures and independent power production through a number of subsidiaries. "Our future growth will be leveraged by the effective management of existing assets, the addition of new assets through well-planned acquisitions and through the skills and innovation of our management team and staff," said Hafer. "While it is important to recognize past accomplishments, I cannot emphasize enough the need to aggressively manage the business as the industry transitions to a less regulated environment."

Hafer also said that he was assessing the organization's structure and its entire management team to ensure that GPU is positioned to execute its business plan.

In pursuing its announced strategy to concentrate on the regulated and unregulated utility services business, in the past 24 months GPU has sold the bulk of its fossil and hydro-generation facilities and Three Mile Island unit 1 nuclear generating plant. Yesterday it announced the sale of Oyster Creek, the second of its two nuclear generating stations. In that same time period, GPU has acquired GasNet, a natural gas transmission system in the State of Victoria, Australia and Emdersa, an electric utility distribution company in Argentina, South America. GPU had previously acquired Midlands Electricity, plc in the United Kingdom and PowerNet, the electricity transmission system for the State of Victoria, Australia.

GPU, Inc. (NYSE:GPU), headquartered in Morristown, NJ is a registered utility holding company. GPU's three domestic operating utility subsidiaries--Jersey Central Power & Light Company, Metropolitan Edison Company and Pennsylvania Electric Company--do business under the trade name of GPU Energy and serve approximately two million customers in a service area encompassing about half the land areas of New Jersey and Pennsylvania. GPU International Group develops, owns and operates transmission and distribution facilities overseas and generating plants both in the United States and abroad. GPU's other subsidiaries include: GPU Advanced Resources Inc., GPU Generation Inc., GPU Nuclear Inc., GPU Service Inc. and GPU Telcom Services Inc. (http://www.gpu.com)