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IPALCO GRANTED INTERVENOR STATUS BY THE IURC IN THE PROPOSED CINCINNATI G&E/PSI MERGER

 INDIANAPOLIS, June 10 /PRNewswire/ -- IPALCO Enterprises (NYSE: IPL) said today that it had been granted intervenor status by the Indiana Utility Regulatory Commission in the proposed Cincinnati G&G/PSI merger.
 Commenting on the commission's decision, Maurice O. Edmonds, vice president of corporate affairs for IPALCO, said: "This is important and welcome news. It will give IPALCO the opportunity to present to the Indiana Commission why IPALCO's offer to purchase PSI, and not the proposed Cincinnati G&E transaction, is in the best interest of the Indiana public.
 "To this date, we have been the only company to make a detailed plan for combining with PSI public. PSI has attempted to create a smokescreen by criticizing that plan, without offering one of their own for public scrutiny -- especially how they propose to divide their cost savings between shareholders and customers, and how they propose to allocate those cost savings among Ohio, Kentucky, and Indiana. These issues will now be fully addressed in the course of the Commission proceedings," Edmonds said.
 -0- 6/10/93
 /CONTACT: Susan Hanafee of IPALCO Enterprises, Inc., 317-261-8763/
 (IPL)


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

TM-MG -- NY087 -- 0890 06/10/93 19:17 EST
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Publication:PR Newswire
Date:Jun 10, 1993
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