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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 1, 1999
AVISTA CORPORATION
(Exact name of registrant as specified in its charter)
Washington 1-3701 91-0462470
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
1411 East Mission Avenue, Spokane, Washington 99202-2600
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 509-489-0500
Web site: http://www.avistacorp.com ---------------------
The Washington Water Power Company
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER INFORMATION
Effective January 1, 1999, The Washington Water Power Company changed its
corporate name to Avista Corporation. A copy of the press release is attached
hereto as Exhibit 99 and is incorporated herein by reference. Neither the filing
of any press release as an exhibit to this Current Report nor the inclusion in
such press releases of a reference to the Company's Internet address shall,
under any circumstances, be deemed to incorporate the information available at
such Internet address into this Current Report. The information available at the
Company's Internet address is not part of this Current Report or any other
report filed by the Company with the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AVISTA CORPORATION
(Registrant)
Date: January 6, 1999 /s/ Jon E. Eliassen
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Jon E. Eliassen
Senior Vice President and
Chief Financial Officer
(Principal Accounting and
Financial Officer)
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Exhibit 99
[AVISTA LOGO]
NEWS RELEASE
CONTACT: Media Contacts: Patrick Lynch 509-495-4246 email: [email protected]
Susan Nielsen 509-495-4676 email: [email protected]
Investment Community Contact: Diane Thoren 509-495-4331
e-mail: [email protected]
FOR IMMEDIATE RELEASE:
January 4, 1999
5:47 a.m. PST
AVISTA CORP. BEGINS DOING BUSINESS TODAY
NAME REFLECTS POSITION AS DIVERSIFIED, NATIONAL ENERGY BUSINESS; NYSE
SYMBOL CHANGES TO AVA
SPOKANE, WASH.: Avista Corp. (NYSE: AVA), Washington Water Power's new corporate
name, became effective on New Year's Day, but today marks the first day of
business operations for the company under its new name.
The name change to Avista Corp. reflects the company's evolution from a
regional utility to a diversified energy business, now offering a full menu of
services to customers throughout North America.
According to T.M. Matthews, board chairman, president and chief executive
officer for Avista Corp., "Our new name reflects our position as a leader in a
dynamic energy marketplace--a position we will strengthen in the years ahead.
The name change is a purposeful step in furthering our strategy and vision of
increasing our national presence and securing a broader platform for our
products and services. Our focus is to take our already-successful company and
achieve an even higher level of performance. Our name change to Avista is a key
component in achieving that strategy. The name Avista stands for a new point of
view, which will lead our company to new opportunities."
AS PART OF A FULL DAY OF ACTIVITIES CELEBRATING THE NAME CHANGE, COMPANY
OFFICIALS WILL UNVEIL NEW AVISTA CORP. SIGNS AT THE COMPANY'S SPOKANE CORPORATE
HEADQUARTERS BUILDING, 1411 EAST MISSION AVENUE IN SPOKANE. THE UNVEILINGS WILL
TAKE PLACE AT 10:00 A.M. PST. IN RELATION TO THE CORPORATE NAME CHANGE, SENIOR
MANAGEMENT WILL BE AVAILABLE FOR MEDIA INTERVIEWS THROUGHOUT THE DAY. MEDIA
MEMBERS INTERESTED IN SETTING UP AN INTERVIEW WITH AVISTA CORP. MANAGEMENT
SHOULD CALL EITHER PATRICK LYNCH OR SUSAN NIELSEN.
All company operations are now unified under the Avista Corp. name.
Washington Water Power, the corporation's former name, and WP Natural Gas have
been combined to form Avista Utilities, an operating division of Avista Corp.
Washington Water Power and WP Natural Gas will still be identified as divisions
of Avista Utilities on customer bill statements and on company vehicles. The
company's non-regulated energy and
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non-energy businesses will all be consolidated under Avista Capital. These
companies include Avista Energy, Avista Power, Avista Advantage, Avista Labs,
Avista Fiber, Avista Development, and Pentzer Corporation.
Beginning with this morning's trading, all existing Washington Water Power
common stock will be traded for the first time as Avista Corp. common stock
under the ticker symbol "AVA." The company's new-issue preferred stock, which
began trading on Dec. 1, 1998, will be traded under the symbol "AVAPrL."
"We have not merged and we have certainly not been bought out. We have simply
changed our name--a change that reflects the expansion of our business
operations as well as our market presence to a national level," Matthews said.
"Our goal with the name change is to promote a cohesive identity consistent with
our business initiatives."
According to Matthews, the Avista name provides flexibility beyond the
company's previous utility-based identity or the geographic location of current
or future portfolio businesses. While Avista will retain a strong local and
regional identity, primarily through its utility operating division, Matthews
said the Avista name is already nationally known in all 50 states through
several Avista Corp. affiliate companies. Included among those companies are
Avista Energy, one of the premier electric and natural gas trading and marketing
companies in the nation; Avista Advantage, a leading Internet-based specialty
billing and information services business; and Avista Labs, a research and
development affiliate.
"As we move forward with our business initiatives, the Avista name will
position us as a diversified energy services company, and it will reinforce a
mindset with our customers, communities and shareholders that the Avista brand
stands for consistent and superior products and services," Matthews said. "As
Avista, we will also be known as a company that anticipates changes in markets,
creates opportunities, and is quick to capitalize on them."
Matthews said the word Avista itself is quite meaningful. A "vista" is a new
perspective, and it is with a fresh perspective that the company is approaching
its business and the opportunities it sees in the energy marketplace.
"For us, the Avista name represents a bold and broad vantage point where the
future feels as exciting as it is limitless," Matthews said. "Our
forward-thinking perspective will reinforce that our company is an industry
leader in performance, value, service, and in seizing opportunities presented in
new and existing markets."
Avista Corp. (formerly Washington Water Power), with annual revenues of more
than $3 billion, is a diversified energy services company with utility and
subsidiary operations located throughout the United States. Avista Corp. also
operates Avista Capital, which owns all the company's non-regulated energy and
non-energy businesses. Avista Capital companies include Avista Energy, Avista
Energy Canada, Ltd., Avista Power, Avista Advantage, Avista Labs, Avista Fiber,
Avista Development and Pentzer Corporation. Avista Corp.'s stock is traded under
the ticker symbol "AVA." For more information about Avista Corp. and its
affiliate businesses, visit the corporate website at WWW.AVISTACORP.COM.
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