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IPALCO RESPONDS TO JUDGE TINDER'S RULING

 INDIANAPOLIS, July 2 /PRNewswire/ -- The following was issued by IPALCO Enterprises, Inc. (NYSE: IPL):
 We would have preferred the July 29 date, but now we are moving forward with our plans for the PSI shareholders' meeting on Aug. 23, 1993.
 It is our belief that at this meeting PSI shareholders will vote for the slate of five individuals who favor an IPALCO/PSI combination. That vote will be a clear signal that PSI shareholders support IPALCO's superior offer.
 IPALCO Enterprises, Inc., is offering, upon the terms and subject to the conditions set forth in its Prospectus dateed April 21, 1993, and in the related Letter of Transmittal and Letter of Transmittal Supplement, to exchange $26.50 per share in cash for 10,754,717 shares of PSI Common Stock and .6906 shares (subject to adjustment) of IPALCO Common Stock for each remaining share of PSI Common Stock. The offer will expire at 12:00 midnight, New York City time, on July 30, 1993, unless extended by IPALCO. IPALCO may extend the offer by giving oral or written notice of such extension to the Exchange Agent. Any such extension will be followed as promptly as practicable by public announcement.
 -0- 7/2/93
 /CONTACT: Susan Hanafee, 317-261-8763, or Marni Lemons, 317-261-8219, both of IPALCO Enterprises, Inc./
 (IPL)


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

LD -- NY058 -- 8366 07/02/93 19:15 EDT
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Publication:PR Newswire
Date:Jul 2, 1993
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