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PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED SELLS 4.0 MILLION SHARES OF COMMON STOCK

 NEWARK, N.J., Feb. 25 /PRNewswire/ -- Public Service Enterprise Group Incorporated (NYSE: PEG) today sold 4 million shares of its common stock to a group of underwriters represented by Merrill Lynch & Co. and
Morgan Stanley & Co., Incorporated at a price of $32.425. The underwriters may purchase up to 400,000 additional shares to cover their over-allotments, if any.
 The underwriters have advised Enterprise that they plan to offer the shares to the public at an initial price of $33.25.
 The net proceeds from the sale of the shares will be used by Enterprise to make an additional equity investment in its wholly owned subsidiary, Public Service Electric and Gas Company (PSE&G). It is anticipated that PSE&G will utilize funds provided by such investment for general corporate purposes, including the payment of a portion of its construction expenditures.
 -0- 2/25/93
 /CONTACT: Neil Brown of Public Service Enterprise Group, 201-430-6017/
 (PEG)


CO: Public Service Enterprise Group Incorporated ST: New Jersey IN: UTI SU:

CK -- NY091 -- 0572 02/25/93 16:49 EST
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Publication:PR Newswire
Date:Feb 25, 1993
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