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[NRG LOGO]
NEWS
RELEASE
FOR IMMEDIATE RELEASE
NRG ENERGY RAISES AN ADDITIONAL $63 MILLION THROUGH
EXERCISE OF OVER-ALLOTMENT OPTION
MINNEAPOLIS, MN -- (June 26, 2000) -- NRG Energy, Inc. (NYSE: NRG) announced
today that the underwriters, for its recently completed public offering of
28,170,000 shares of common stock, have purchased an additional 4,225,500 shares
at $15 per share pursuant to the over-allotment option granted in connection
with the offering.
"Our underwriters' decision to exercise the over-allotment option
contributes to NRG's strategy of seeking continued significant growth by
enhancing our position as a leading global generator in the growing competitive
electricity market," said David H. Peterson, president, chairman and chief
executive officer of NRG.
Total gross proceeds from the offering, including exercise of the
over-allotment option, are $485,932,500. Salomon Smith Barney was the managing
underwriter for the offering. The shares sold in the offering represent
approximately 18 percent of the common equity of the company, which was formerly
a wholly owned subsidiary of Northern States Power Company (NYSE: NSP).
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or sale would be
unlawful, prior to registration or qualification under the securities laws of
any such state or jurisdiction.
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NRG Energy (www.nrgenergy.com) is a leading global energy company
primarily engaged in the acquisition, development, construction, ownership and
operation of power generation facilities. NRG Energy owns all or a portion of 57
power generation projects with a total generating capacity of more than 23,000
MW; its net ownership interest in these projects exceeds 13,000 MW. NRG Energy's
operations utilize such diverse fuel sources as natural gas, oil, coal and coal
seam methane, biomass, landfill gas, and hydro, as well as refuse derived fuel.
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CONTACTS:
Meredith C. Moore
Media Relations Manager
NRG Energy, Inc.
612.313.8729
e-mail: [email protected]
Dan Dokken
Executive Director, Investor Relations
NRG Energy, Inc.
612.373.5336
e-mail: [email protected]
