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Central Hudson Gas & Electric Corporation issued the following
News Release today (September 23, 1998):
Central Hudson Amends Proposed Holding Company By-Laws
In July 1998, Central Hudson Gas & Electric Corporation
began its proxy solicitation relative to a proposal to form a
holding company, CH Energy Group, Inc. That structure will
provide the financial and regulatory flexibility needed to
effectively engage in competitive businesses while the Company
continues to operate its regulated natural gas and electric
utility business.
"We are extremely pleased with the favorable response to our
proposal by the majority of our shareholders. However, several
institutional shareholders have expressed concern about some of
the corporate governance features proposed for CH Energy Group,"
said John E. Mack III, Chairman of the Board of Directors.
"Therefore, in the interest of gaining support from a broader
shareholder base, we will amend the proposed By-Laws of CH Energy
Group to allow for a majority of its shareholders to call Special
Meetings of shareholders."
The shareholder meeting to act on the holding company
proposal will be held on Friday, September 25, 1998.
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SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934 (Amendment No. )
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subsection 240.14a-12
Central Hudson Gas & Electric Corporation
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if other than the Registrant)
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