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SOUTHERN INDIANA GAS AND ELECTRIC COMPANY THIRD QUARTER RESULTS

 EVANSVILLE, Ind., Oct. 29 /PRNewswire/ -- Southern Indiana Gas and Electric Company (NYSE: SIG) reported earnings per share of 93 cents for the quarter ended Sept. 30, 1993, compared to 71 cents in 1992. The primary reason for the increased earnings was a 13 percent increase in sales to system customers. Much warmer weather during the third quarter of 1993 when compared to the same period in 1992 contributed to increased residential and commercial sales, up 23 percent and 11 percent, respectively. Cooling degree days for 1993 were 1,144 for the third quarter compared to 870 for the same period in 1992. Earnings for the quarter reflected higher allowance for funds used during construction, primarily from the construction of the company's new sulfur dioxide "scrubber."
 For the first nine months of 1993, earnings per share were $2.29 compared to $2.05 for the same period in 1992. Electric sales to system and nonsystem customers during the current nine month period increased 9 percent and 3 percent, respectively, reflecting much warmer weather. Cooling degree days were up 31 percent compared to the same period in 1992. Planned maintenance expenditures at the company's generating units partially offset the gains in electric revenues. Increased gas sales due to much cooler weather during the first quarter of 1993 were partially offset by greater gas maintenance expenditures during the first nine months of 1993. Increased allowance for funds used during construction, primarily from the construction of the company's new sulfur dioxide "scrubber," also contributed to the higher earnings for the period.
 Earnings per share of $2.49 for the twelve months ended Sept. 30, 1993 represents a 9.7 percent increase compared to the prior period earnings of $2.27. Greater gas sales and improved gas margins along with increased electric system sales more than offset the impact of fewer nonsystem electric sales and higher nonfuel operating expenditures. Cooler winter temperatures and warmer summer weather as compared to the prior year contributed to the increased gas and electric system sales, respectively. Nonsystem electric sales were down due to fewer requirements of several of the company's nonsystem customers. Increased allowance for funds used during construction, primarily from the construction of the company's new sulfur dioxide "scrubber," also contributed to the increased earnings for the period.
 SOUTHERN INDIANA GAS AND ELECTRIC COMPANY
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 (in thousands except per share data)
 TOTAL OPERATING
 REVENUES $82,778 $74,815 $251,955 $230,391
 NET INCOME (Before
 Preferred Dividends) $14,819 $11,458 $36,741 $33,194
 EARNINGS PER SHARE $0.93 $0.71 $2.29 $2.05
 Twelve Months Ended
 Sept. 30,
 1993 1992
 (in thousands except per share data)
 TOTAL OPERATING
 REVENUES $327,510 $307,090
 NET INCOME (Before
 Preferred Dividends) $40,314 $36,882
 EARNINGS PER SHARE $2.49 $2.27
 NOTES: Because of seasonal and other factors, the earnings for the three months, nine months, and twelve months ended Sept. 30, 1993 should not be taken as an indication for all or any part of the balance of 1993.
 -0- 10/29/93
 /CONTACT: A.E. Goebel, senior vice-president, chief financial officer, secretary and treasurer, of Southern Indiana Gas and Electric, 812-464-4553/
 (SIG)


CO: Southern Indiana Gas and Electric Company ST: Indiana IN: UTI SU: ERN

BM-AR -- CL009 -- 8422 10/29/93 10:23 EDT
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Date:Oct 29, 1993
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