EXHIBIT 99
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NISOURCE [LOGO]
N E W S Delivering life s essential resources
_________ 801 East 8th Avenue
Merrillville, Indiana 46410
FOR IMMEDIATE RELEASE
FOR ADDITIONAL INFORMATION
MEDIA
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Maria Hibbs (219) 647-6201
Sally Anderson (219) 647-6203
INVESTOR RELATIONS
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Dennis Senchak (219) 647-6085
Rae Kozlowski (219) 647-6083
NISOURCE ANNOUNCES REVISED COLUMBIA ENERGY GROUP STOCK PRORATION
MERRILLVILLE, Ind. (November 7, 2000) -- NiSource Inc. (NYSE: NI)
today revised the proration factor for the NiSource and Columbia
merger, which closed on Nov. 1.
Under the revised calculation, 38.944476 percent of those
Columbia shares for which valid stock elections were made, rounded
down to the nearest whole share, will be converted into NiSource
stock. This number was previously incorrectly reported as 38.8301728
percent. The exchange ratio is 3.04414 NiSource shares for each
Columbia share that is exchanged for NiSource stock.
Under the merger agreement, the balance of the shares covered
by the stock elections, as well as all Columbia shares for which
no election was made, will be exchanged, on a per share basis, for
$70 in cash and $2.60 face amount of a SAILS (Stock Appreciation
Income Linked Securities), a unit consisting of a zero coupon debt
security and a forward equity contract. For a description of SAILS,
consult the NiSource and Columbia Energy Group joint proxy statement/
prospectus on the Investor Relations page of the NiSource Web site,
www.nisource.com.
For further information regarding the exchange of Columbia
shares, including delivery of NiSource shares, cash and SAILS, call
NiSource's exchange agent, ChaseMellon Shareholder Services, at
800-685-4258.
NiSource Inc. is a holding company with headquarters in
Merrillville, Ind., whose operating companies engage in virtually all
phases of the natural gas business from exploration and production to
transmission, storage and distribution, as well as electric
generation, transmission and distribution. NiSource companies serve a
high-growth energy corridor from the Gulf of Mexico to the Midwest to
New England. More information about the company is available on the
Internet at www.nisource.com.
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