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INPALCO ISSUES STATEMENT REGARDING PSI

 INDIANAPOLIS, Ind., May 14 /PRNewswire/ -- In response to PSI's announcement today that it has set its Annual Meeting for Sept. 23, 1993, IPALCO issued the following statement:
 "We are appalled that PSI management has such blatant disregard for the interests of its shareholders as to postpone to such a late date their shareholders' opportunity to vote for directors. PSI management obviously fears that its shareholders will indicate their support for our superior offer by electing the slate of directors that we have nominated.
 "To us, this looks like a case of the politician who, fearing the results, moves the election date."
 -0- 5/14/93
 /CONTACT: Susan Hanafee or Marni Lemons, both of INPALCO Enterprises, Inc., 317-261-8763, or Tom Davies or Josh Pekarsky, both of Kekst and Company, 212-593-2655, for INPALCO Enterprises/
 (IPL)


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

TM -- NY089 -- 8863 05/14/93 18:02 EDT
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Publication:PR Newswire
Date:May 14, 1993
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