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IPALCO'S RESPONSE TO PSI'S REQUEST FOR A FILING DELAY

 INDIANAPOLIS, June 14 /PRNewswire/ -- The following was issued today by IPALCO Corporation (NYSE: IPL):
 We at IPALCO are disappointed the PSI Resources will not be filing its regulatory plans as promised on June 16. Like other Hoosiers, we were interested in finally seeing the details of PSI's plan, specifically how it proposed splitting any savings between customers in three states and shareholders.
 All along, PSI management has claimed it has a detailed regulatory plan to file. Now, when it is time for the comprehensive proposal to be submitted, it seems there is no plan. We believe this is simply a continuation of PSI management's efforts to hide the ball from their shareholders and customers.
 We would hope that during the one-week delay, Cincinnati Gas & Electric Company and PSI will work out a substantial and complete regulatory plan that will be filed in Ohio, Kentucky and Indiana. We do not believe the merits of their plan can be seriously considered until details have been presented in all the states that would be affected by their proposed combination.
 -0- 6/14/93
 /CONTACT: Susan Hanafee, 317-261-8763, for IPALCO Corporation/
 (IPL)


CO: IPALCO Corporation, PSI Resources ST: Indiana IN: UTI SU:

LD -- NY118 -- 1888 06/14/93 19:37 EDT
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Publication:PR Newswire
Date:Jun 14, 1993
Words:207
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