GPU Reports On Merger Regulatory Process in New Jersey.

Business Editors

MORRISTOWN, N.J.--(BUSINESS WIRE)--June 22, 2001

GPU Inc. (GPU: NYSE) said today that based upon the status of the recent settlement discussions in New Jersey concerning its proposed merger with FirstEnergy Corp., the administrative law judge hearing the case has asked the parties to continue discussions until July 9.

The company pointed out that the continuation of discussions will postpone the judge's recommended decision that was scheduled to be rendered June 29.

GPU, Inc., headquartered in Morristown, NJ, is a registered public utility holding company providing utility and utility-related services to customers throughout the world. GPU serves 4.6 million customers directly through its electric companies -- GPU Energy in the US, GPU Power UK in England, and Emdersa in Argentina. It serves an additional 1.4 million customers indirectly through GPU GasNet, its gas transmission subsidiary in Australia. The company's independent power project business units own interests in and operate eight projects in five countries. GPU's 2000 revenues were $5.2 billion and its total assets were more than $19.3 billion. GPU's other subsidiaries include MYR Group Inc., GPU Advanced Resources, Inc., GPU Nuclear, Inc., GPU Service, Inc. GPU Telcom Services, Inc. and GPU Diversified Holdings LLC. (http://www.gpu.com)