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IPALCO EXTENDS TENDER OFFER TO AUGUST 31

 INDIANAPOLIS, July 22 /PRNewswire/ -- IPALCO Enterprises, Inc. (NYSE: IPL) announced that it has extended the expiration of its $26.50 per share tender offer for PSI Resources, Inc., previously set to expire on July 30, 1993, until August 31, 1993, unless extended.
 IPALCO Chairman, Chief Executive Officer and President, John R. Hodowal, stated: "Given that PSI's annual meeting is now scheduled for August 23, we felt it only made sense to extend our offer until shortly after that critical referendum on the two competing proposals to acquire PSI."
 As of the close of business today, 6,871,259 shares had been tendered and not withdrawn pursuant to the offer.
 IPALCO Enterprises, Inc., is offering, upon the terms and subject to the conditions set forth in its Prospectus dated April 21, 1993, and in the related Letter of Transmittal and Letter of Transmittal Supplement, to exchange $26.50 per share in cash for 10,754,717 shares of PSI common stock and .6906 shares (subject to adjustment) of IPALCO common stock for each remaining share of PSI common stock. The offer will expire at 12:00 midnight, New York City time, on August 31, 1993, unless extended by IPALCO. IPALCO may extend the offer by giving oral or written notice of such extension to the Exchange Agent. Any such extension will be followed as promptly as practicable by public announcement.
 -0- 7/22/93
 /CONTACT: Susan Hanafee, 317-261-8763 or Marni Lemons, 317-261-8219, (pager) 317-461-9578, media, both for IPALCO; Tom Davies or Josh Pekarsky, investors, both of Kekst and Company, 212-593-2655, for IPALCO Enterprises, Inc./
 (IPL)


CO: IPALCO Enterprises, Inc. ST: Indiana IN: UTI SU: OFR

TM-MG -- NY113 -- 4863 07/22/93 18:41 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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