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OESI POWER RESPONDS TO LAWSUIT

 OESI POWER RESPONDS TO LAWSUIT
 PORTLAND, Ore., Aug. 25 /PRNewswire/ -- On Aug. 17, 1992,


CE Puna III Inc. ("CE Puna"), a subsidiary of Constellation Energy Inc., filed a lawsuit in the U.S. District Court in Delaware asking for a judgment against OESI Power Corp. (NASDAQ: OESI) for the $3.978 million in principal, plus interest and collection costs, on a note from OESI to CE Puna relating to the Puna project, OESI said today. The note is secured by OESI's equity interest in the Puna project. OESI does not dispute that it owes CE Puna the principal and interest on the note, but was in the midst of negotiations with CE Puna to restructure its payment obligations when the lawsuit was filed. OESI intends to continue negotiating with CE Puna for restructure of the note payments and dismissal of the lawsuit.
 -0- 8/25/92
 /CONTACT: James Verhey of OESI Power, 503-636-9620/
 (OESI) CO: OESI Power Corp.; CE Puna III Inc.; Constellation Energy Inc. ST: Oregon IN: OIL SU:


SC-GT -- SF003 -- 2869 08/25/92 08:03 EDT
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Publication:PR Newswire
Date:Aug 25, 1992
Words:179
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