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HOUSTON INDUSTRIES ANNOUNCES SUCCESSFUL BID BY CONSORTIUM

 HOUSTON, Nov. 24 ~PRNewswire~ -- Houston Industries Incorporated announced today that a consortium, in which it is a partner, was the successful bidder on an electric distribution system which was privatized by the government of Argentina. The properties are located in La Plata, Argentina, the capital city of the province of Buenos Aires, located approximately 20 miles south of the city of Buenos Aires.
 Other members of the consortium include Techint Compania Tecnica Internacional, an Argentine corporation, CitiCorp Capital Investors, S.A., and LOS W S.A., an Argentine Corporation. The winning bid was approximately $139 million. Houston Industries' portion of the purchase price will be approximately $37 million. The consortium is acquiring 51 percent of the ownership of the system; the remaining 49 percent will be retained by the government of Argentina.
 The La Plata system serves a population of 710,000 in a 2,260 square-mile area, has a peak electric demand of approximately 200 MW and had annual power sales of 832 GWH in 1991. Principal industries in the La Plata region include shipping, petrochemical manufacturing, refining and the manufacturing of steel products.
 A 129 MW power station is included in the sale, along with a 100 MW power supply agreement with another power station. Approximately 700 employees are being transferred with the power concession.
 The La Plata system represents the last portion of the former SEGBA system in Argentina that remained under governmental ownership. The other portions of SEGBA, primarily serving the city of Buenos Aires, were sold to private interests earlier in 1992.
 Houston Industries is a holding company headquartered in Houston, Texas. Its principal subsidiaries include Houston Lighting & Power Company, the eighth largest U.S. electric utility; KBLCOM, Inc., one of the 20 largest cable TV operating companies in the U.S., and Utility Fuels, Inc., which has one of
the largest solid fuel rail transportation fleets in the U.S. Houston Industries has assets in excess of $12 billion and annual sales in excess of $4 billion (U.S. $).
 -0- 11~24~92
 ~CONTACT: Dan Bulla of Houston Industries, 713-629-3120~
 (HOU)


CO: Houston Industries Incorporated ST: Texas IN: OIL UTI SU:

KD -- NY079 -- 1292 11~24~92 17:37 EST
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Publication:PR Newswire
Date:Nov 24, 1992
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