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KIDDER, PEABODY & CO., INC. AND CALIFORNIA ENERGY COMPANY, INC. REACH NON-CASH RESOLUTION OF OUTSTANDING DISPUTES

 NEW YORK, May 3 /PRNewswire/ -- Kidder, Peabody & Co. Incorporated, William P. Short III and California Energy Company, Inc. (AMEX: CE) announced today that they have reached a non-cash resolution of their outstanding disputes. Under a confidential agreement, California Energy dismissed with prejudice Kidder, Peabody and Short as defendants from its federal court lawsuit against Southern California Edison Company, Mission Energy Company, SCEcorp., and others in connection with dismissing such suit against all parties.
 Spokespersons for Kidder, Peabody and California Energy made the following joint statement, "We are pleased that we are now in a position to put our differences behind us."
 Kidder, Peabody, a subsidiary of GE Capital Services, is a full service investment banking and brokerage firm with 50 offices worldwide.
 California Energy Company develops geothermal power plants and other environmentally responsible power generating facilities. Its five geothermal facilities produce in excess of 250 MW.
 -0- 5/03/93
 /CONTACT: John Sylvia, vice president and CFO of California Energy Company, 402-330-8900, or Helen B. Platt of Kidder, Peabody, 212-510-4720/
 (CE)


CO: California Energy Company; Kidder, Peabody & Co., Inc. ST: Nebraska IN: OIL SU:

TM -- NY010 -- 3553 05/03/93 08:01 EDT
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Publication:PR Newswire
Date:May 3, 1993
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