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Sithe Completes $1.67 Billion GPU Acquisition Adds 4,276 MW, 21 Mid-Atlantic Plants to Growing Portfolio.

NEW YORK--(BUSINESS WIRE)--Nov. 24, 1999--

Sithe Energies, Inc. today announced the completion of its $1.67 billion purchase of 21 non-nuclear power generating plants from GPU Inc. The transaction more than doubles the company's North American generating capacity to a total of 8,074 net megawatts from a total of 49 facilities in the U. S. and Canada.

The company's portfolio of 38 power generating plants in the Northeast U. S. alone establishes Sithe as one of the largest independent power producers in the most advanced electric power market in the United States. Additionally, Sithe is one of the only power producers with generating facilities in the three power pools -- New England, New York, and PJM -- serving the Northeast from Maine to Maryland. The company's plants and properties are also strategically located near the major urban power centers in those markets.

William Kriegel, Chairman and Chief Executive Officer of Sithe, said, "This is another critical milestone for Sithe Energies. Combined with our plants in New York and our acquisition last year of the generating assets of Boston Edison, Sithe is now the leading independent generating company in the Northeast."

The newly acquired plants -- representing 4,276 net megawatts of generating -more- capacity -- include 16 power generating facilities in Pennsylvania (2,743 MW), four in New Jersey (1,515 MW) and one 18-MW facility in Maryland. The plants are powered by a diversity of fuels including natural gas, coal, oil, and hydro. Sithe will manage and operate each facility. The transaction includes the purchase of GPU's interests in two 1,711 megawatt stations in Pennsylvania which Sithe will also manage and operate.

The company is continuing with its development activity. Currently Sithe is developing new natural gas-powered facilities at three sites near Boston totaling nearly 2,940 megawatts of new capacity. Sithe expects to submit final applications for another 1,600 megawatts at two sites in New York. Furthermore, the potential exists for adding as many as 4,300 megawatts at select former GPU sites over the next several years.

"Sithe is recognized as an involved corporate citizen in our many host communities where we strive to safeguard the environment and enhance the quality of life. We look forward to an open dialogue with community leaders and local residents near our new sites," Kriegel concluded.

Sithe Energies, Inc., founded in 1984 and headquartered in New York City, has an extensive global portfolio of projects in operation, under construction, or in active development. The company is 60 percent owned by Vivendi (F.VVN), one of the world's leading utilities and environmental services companies. Marubeni Corp., a major Japanese trading company, owns 30 percent, and the remaining 10 percent is owned by Sithe management. -0-
 Sithe Northeast Assets Acquired from GPU, Inc.

 Pennsylvania Facilities
 Facilities City County Size
 Blossburg Tioga Tioga 23
 Conemaugh New Florence Indiana 1,711
 Hamilton East Berlin Adams 23
 Hunterstown Gettysburg Adams 71
 Keystone Shelocta Armstrong 1,711
 Mountain Mount Holly Cumberland 47
 Orrtanna Gettysburg Adams 23
 Piney Clarion Clarion 27
 Portland & Portland, Bangor Northampton 585
 Bangor Ash Site
 Seward New Florence Indiana 198
 Shawnee East Stroudsburg Monroe 23
 Shawville Shawville Clearfield 613
 Titus Birdsboro Berks 281
 Tolna Stewartstown York 47
 Warren Warren Warren 150
 Wayne Meadville Crawford 66

 New Jersey Facilities

 Facilities City County Size
 Gilbert & Milford, N.J. Hunterdon 615
 Hellertown Tank Hellertown, Pa.
 Glen Gardner Glen Gardner Hunterdon 184
 Sayreville Sayreville Middlesex 464
 Werner South Amboy Middlesex 252

 Maryland Facilities
 Facilities City County Size
 Deep Creek Oakland Garrett 18

 Support Facilities
 City County Size
 Johnstown Johnstown, Pa. Cambria 0
 Mobile Brookville, Pa. Jefferson 0

Sithe owns 100% of all sites except Conemaugh (16.45%) and Keystone
(16.67%); both of which Sithe operates.

 Fact Sheet
 Sithe, Inc.

The Company A leading international independent power producer
 and developer, Sithe is the sixth largest
 unregulated generation company in the world, with
 over 28,000 gross MW in operation, under
 construction or in advanced development. Founded in
 1984, the company has plants or development projects
 underway in Africa, Asia, Australia, Europe and
 North America. Its 57 plants generate over 12,700
 gross MW of power from a variety of fuels: natural
 gas, oil, hydro and coal.

Address 335 Madison Avenue
 New York, New York 10017
 (212) 351-1000

Ownership Vivendi (60)%, one of the world's
 leading utilities and
 environmental services companies;
 Marubeni (30%), a major Japanese
 trading company; and Management

Key Officers William Kriegel, Chairman and Chief Executive Officer
 Barry Sullivan, Vice Chairman
 Harrison Wellford, Vice Chairman

 Sithe Northeast

The Company Sithe is the leading independent wholesale power
 generator in the Northeastern United States, and the
 only independent power producer operating in the
 three major Northeastern power pools New England, New
 York and PJM. Founded in 1999, the company has 38
 production facilities generating nearly 11,000 gross
 MW of power serving the Northeast from Maine to

Address 335 Madison Avenue
 New York, New York 10017
 (212) 351-0000

Ownership Vivendi (60)%, one of the world's
 leading utilities and
 environmental services companies;
 Marubeni (30%), a major Japanese
 trading company; and Management

Key Officers Jeffrey Tranen, President and Chief Executive Officer
 Ralph Grutsch, Senior Vice President, Operations
 Scott Weiner, Senior Vice President, Market
 Structure, Regulatory and Legislative Affairs
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Publication:Business Wire
Geographic Code:1USA
Date:Nov 24, 1999
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