<PAGE> 1
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U5S
ANNUAL REPORT
For the Year Ended December 31, 1998
Filed pursuant to the
Public Utility Holding Company Act of 1935
COLUMBIA ENERGY GROUP
(Name of registered holding company)
13880 Dulles Corner Lane
Herndon, Virginia 20171
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===============================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U5S
ANNUAL REPORT
For the Year Ended December 31, 1998
Filed pursuant to the
Public Utility Holding Company Act of 1935
COLUMBIA ENERGY GROUP
(Name of registered holding company)
13880 Dulles Corner Lane
Herndon, Virginia 20171
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<PAGE> 3
TABLE OF CONTENTS
<TABLE>
<CAPTION>
PAGE NO.
OR
ITEM EXHIBIT
- ------- -------
<S> <C>
1 System Companies and Investment Therein as of December 31, 1998 . . . . . . . . 3-8
2 Acquisitions or Sales of Utility Assets . . . . . . . . . . . . . . . . . . . . 9
3 Issue, Sale, Pledge, Guarantee or Assumption of System Securities . . . . . . . 9
4 Acquisition, Redemption or Retirement of System Securities . . . . . . . . . . . 10-12
5 Investments in Securities of Nonsystem Companies . . . . . . . . . . . . . . . . 12
6 Officers and Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13-69
7 Contributions and Public Relations . . . . . . . . . . . . . . . . . . . . . . . 70
8 Service, Sales and Construction Contracts . . . . . . . . . . . . . . . . . . . 71-73
9 Wholesale Generators and Foreign Utility Companies . . . . . . . . . . . . . . . 73
10 Financial Statements and Exhibits . . . . . . . . . . . . . . . . . . . . . . . 74-75
Consolidating Financial Statements . . . . . . . . . . . . . . . . . . . . . . . 74(F1 to F6)
Signature of Registrant's Officer . . . . . . . . . . . . . . . . . . . . . . . 76
Exhibits: 77
Securities and Exchange Act of 1934 Reports . . . . . . . . . . . . . . . . . A
Index to Corporate Organization & By-Laws Exhibits . . . . . . . . . . . . . . B
Indentures or Contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . C
Tax Allocation Agreement for 1998 . . . . . . . . . . . . . . . . . . . . . . D
Other Documents Prescribed by Rule or Order . . . . . . . . . . . . . . . . . E
Report of Independent Public Accountants . . . . . . . . . . . . . . . . . . . F
Financial Data Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . G
Organizational Chart of Exempt Wholesale Generators or Foreign Utility Holding
Companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . H
Audited Financial Statements and Analytical Reviews and Conclusions Regarding
Exempt Wholesale Generators or Foreign Utility Holding Companies . . . . . . . I
</TABLE>
2
<PAGE> 4
ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Issuer Owner
% 0f Book Book
Number of Common Voting Value Value
Name of Company (Company Abbreviation) Shares Owned Power ($000) ($000)
- ---------------------------------------------- ---------------- ------ -------- --------
<S> <C> <C> <C> <C>
Columbia Energy Group (Registrant, CG)
Columbia Gas of Kentucky, Inc. (CKY) . . . . . . . . . . 952,248 100.0 69,065 69,065
Unsecured Debt . . . . . . . . . . . . . . . . . . . - - 54,494 54,494
Columbia Gas of Maryland, Inc. (CMD) . . . . . . . . . . 2,883 100.0 23,294 23,294
Unsecured Debt . . . . . . . . . . . . . . . . . . . - - 17,819 17,819
Columbia Gas of Ohio, Inc. (COH) . . . . . . . . . . . . 4,769,585 100.0 435,643 435,643
Unsecured Debt . . . . . . . . . . . . . . . . . . . - - 319,959 319,959
Columbia Gas of Pennsylvania, Inc. (CPA) . . . . . . . . 3,405,112 100.0 218,799 218,799
Unsecured Debt . . . . . . . . . . . . . . . . . . . - - 148,451 148,451
Columbia Gas of Virginia, Inc. (CGV) . . . . . . . . . . 1,306,106 100.0 154,808 154,808
Unsecured Debt . . . . . . . . . . . . . . . . . . . - - 126,677 126,677
Columbia Gas Transmission Corporation (TCO) . . . . . . 1,934 100.0 998,403 998,403
Unsecured Debt . . . . . . . . . . . . . . . . . . . - - 1,913 1,913
Secured Debt . . . . . . . . . . . . . . . . . . . . - - 643,000 643,000
Unconsolidated Affiliate:
Millennium Pipeline Company, L.P.(a) . . . . . . . - 47.5 14,121 14,121
Millennium Pipeline Management Co., L.L.C. (b) . . - 47.5 143 143
Columbia Gulf Transmission Company (CGT) . . . . . . . . 1,993 100.0 122,452 122,452
Unsecured Debt . . . . . . . . . . . . . . . . . . . - - 68,414 68,414
Unconsolidated Affiliates:
Trailblazer Pipeline Corporation (c) . . . . . . . - 33.3 22,679 22,679
Columbia Pipeline Corporation (CPL) (d) . . . . . . . . 1 100.0 1 1
Subsidiary:
Columbia Deep Water Services (CDW) (e) . . . . . . 1 100.0 - -
Columbia Atlantic Trading Corporation (CAT) . . . . . . 308 100.0 596 596
Columbia Energy Group Service Corporation (CS) . . . . . 3,000 100.0 13,186 13,186
Unsecured Debt . . . . . . . . . . . . . . . . . . . - - 16,043 16,043
Columbia LNG Corporation (CLG) . . . . . . . . . . . . . 3,519 92.1 25,680 25,680
CLNG Corporation (CLNG) . . . . . . . . . . . . . . . 155 100.0 314 314
Unconsolidated Affiliate:
Cove Point LNG Limited Partnership (f) . . . . . . - 50.0 14,173 14,173
</TABLE>
3
<PAGE> 5
ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Issuer Owner
% 0f Book Book
Number of Common Voting Value Value
Name of Company (Company Abbreviation) Shares Owned Power ($000) ($000)
- ---------------------------------------------- ---------------- ------ -------- --------
<S> <C> <C> <C> <C>
Columbia Energy Resources, Inc. (CER) (g) . . . . . . . . . . . 2 100.0 251,880 251,880
Unsecured Debt . . . . . . . . . . . . . . . . . . . . . . . . - - 114,850 114,850
Subsidiaries:
Columbia Natural Resources, Inc. (CNR) . . . . . . . . . . 1 100.0 240,513 240,513
Unconsolidated Affliates:
Clarksburg Gas Limited Partnership (h) . . . . . . . . - 2.0 281 281
*Phoenix-Alamo Ventures LLC . . . . . . . . . . . . . . - - - -
Hawg Hauling & Disposal, Inc. (HH) . . . . . . . . . . . . 900 100.0 946 946
Alamco-Delaware, Inc. (AD) . . . . . . . . . . . . . . . . 100 100.0 6,469 6,469
CNR-Canada, Ltd. (CU) (i) . . . . . . . . . . . . . . . . l 100.0 3,238 3,238
Columbia Propane Corporation (CPC) . . . . . . . . . . . . . . 1,377 100.0 30,772 30,772
Unsecured Debt. . . . . . . . . . . . . . . . . . . . . . . - - 23,888 23,888
Unconsolidated Affiliate:
Atlantic Energy, Inc. (AEI) (j) . . . . . . . . . . . . . 3,500 50.0 1,717 1,717
Columbia Networks Services Corporation (CNS) . . . . . . . . . 900 100.0 5,035 5,035
Subsidiaries:
CNS Microwave, Inc. (CMC) . . . . . . . . . . . . . . . . 80 100.0 836 836
EnergyNet, L.L.C. (EN) (k) . . . . . . . . . . . . . . . . - 100.0 1997 1997
Columbia Insurance Corporation, Ltd. (CIC) . . . . . . . . . . 4,800 100.0 1,126 1,126
Columbia Energy Services Corporation (CES) . . . . . . . . . . 421,657 100.0 23,657 23,657
Subsidiaries:
Columbia Energy Marketing Corporation (CEM) . . . . . . . 101 100.0 2,109 2,109
Columbia Energy Power Marketing Corporation (CPM) (l) . . 1 100.0 (501) (501)
Columbia Service Partners, Inc. (CSP) . . . . . . . . . . 200 100.0 (315) (315)
Subsidiary:
Columbia Assurance Agency, Inc. (CAA) (m) . . . . . . . 850 100.0 1 1
Energy.com (ECC) (n) . . . . . . . . . . . . . . . . . . . 500 100.0 3,093 3,093
Columbia Energy Group Capital Corporation (CCC) . . . . . . . . 3,000 100.0 9,089 9,089
Subsidiaries:
Columbia Transmission Communications Corporation (CTC)(o) 1 100.0 7,637 7,637
TriStar Gas Technologies, Inc. (TGT). . . . . . . . . . . 40,000 100.0 1,384 1,384
Unconsolidated Affiliate:
Enertek Partners, LP (p). . . . . . . . . . . . . . . - 16.5 1,201 1,201
</TABLE>
4
<PAGE> 6
ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Issuer Owner
% 0f Book Book
Number of Common Voting Value Value
Name of Company (Company Abbreviation) Shares Owned Power ($000) ($000)
- ---------------------------------------------- ---------------- ------ -------- --------
<S> <C> <C> <C> <C>
Columbia Electric Corporation (CEC) . . . . . . . . . . . . . 1,835 100.0 50,096 50,096
Subsidiaries:
Columbia Electric Pedrick General Corporation (CGP) . . . . 3,000 100.0 3,706 3,706
Unconsolidated Affiliate:
Pedricktown Cogeneration Limited Partnership (q) . . . - 15.0 4,620 4,620
Columbia Electric Pedrick Limited Corporation (CLP) . . . 42 100.0 8,631 8,631
Unconsolidated Affiliate:
Pedricktown Cogeneration Limited Partnership (q) . . . - 35.0 10,780 10,780
Columbia Electric Binghamton General Corporation (CBG). . . 118 100.0 326 326
Unconsolidated Affiliate:
Binghamton Cogeneration Limited Partnership (r) . . . . - 10.0 220 220
Columbia Electric Binghamton Limited Corporation (CBL) 142 100.0 627 627
Unconsolidated Affiliate:
Binghamton Cogeneration Limited Partnership (r) . . . - 23.3 512 512
Columbia Electric Vineland General Corporation (CVG) . . . 2,704 100.0 488 488
Unconsolidated Affiliate:
Vineland Cogeneration Limited Partnership (s) . . . . . - 5.0 392 392
Columbia Electric Vineland Limited Corporation (CVL) . . . 2,385 100.0 3,590 3,590
Unconsolidated Affiliate:
Vineland Cogeneration Limited Partnership (s) . . . . . - 45.0 3,532 3,532
Columbia Electric Rumford Limited Corporation (CRL) . . . . 1 100.0 4,577 4,577
Unconsolidated Affiliate:
Rumford Cogeneration Company (t). . . . . . . . . . . . - 10.2 8,214 8,214
Columbia Electric Limited Holdings Corporation (CEH) (u). . 100 100.0 331 331
Unconsolidated Affiliate:
Gregory Power Partners, L.P. (v) . . . . . . . . . . . - 49.0 (735) (735)
Gregory Partners LLC (w) . . . . . . . . . . . . . . . - 49.0 (735) (735)
Liberty Electric Power LLC (x) . . . . . . . . . . . . - 49.0 - -
Columbia Electric Gregory General Corporation (CGG) . . . . 9 100.0 78,132 78,132
Unconsolidated Affiliate:
Gregory Power Partners L.P.. . . . . . . . . . . . . . - 1.0 (15) (15)
Columbia Electric Gregory Remington Corporation (CGR) . . . - 100.0 (11,869) (11,869)
Unconsolidated Affiliate:
Gregory Partners LLC . . . . . . . . . . . . . . . . . - 1.0 (15) (15)
*TriStar Fuel Cells Corporation (FC) . . . . . . . . . . . - - - -
</TABLE>
5
<PAGE> 7
ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 1998
<TABLE>
<CAPTION>
Issuer Owner
% 0f Book Book
Number of Common Voting Value Value
Name of Company (Company Abbreviation) Shares Owned Power ($000) ($000)
- ---------------------------------------------- ---------------- ------ -------- --------
<S> <C> <C> <C> <C>
Columbia Electric Liberty Corporation(CEL)(y). . . . . . . . . . 3 100.0 38,250 38,250
Unconsolidated Affiliate:
Liberty Electric LLC(z). . . . . . . . . . . . . . . . . . - 1.0 - -
*TriStar Georgetown General Corporation (GGC). . . . . . . . . . - - - -
Unconsolidated Affiliate:
*Georgetown Cogeneration Limited Partnership . . . . . . . - - - -
*TriStar Georgetown Limited Corporation (GLC). . . . . . . . . . - - - -
Unconsolidated Affiliate:
*Georgetown Cogeneration Limited Partnership . . . . . . . - - - -
Unconsolidated Affiliate:
Cogeneration Partners of America (aa) . . . . . . . . . . . . - 50.0 - -
</TABLE>
6
<PAGE> 8
* Dissolved in 1998.
(a) Partnership interest in the Millennium Pipeline Company. Columbia
Gas Transmission Corporation owns 47.5% interest.
(b) Partnership interest in the Millennium Pipeline Management Co., LLC.
Columbia Gas Transmission Corporation owns 47.5% interest
(c) Partnership interest in the Trailblazer Pipeline Company. Partners
each owning a thirty-three and one-third percent (33-1/3%) interest
are Columbia Gulf Transmission Company, Enron Trailblazer Pipeline
Company and NGPL-Trailblazer, Inc.
(d) Columbia Pipeline Corporation was incorporated in the state of
Delaware on November 30, 1998. Columbia Pipeline Corporation was
formed as a holding company for non-FERC regulated pipeline
activities.
(e) Columbia Deep Water Services Company (CDW) was incorporated in the
state of Delaware on January 17, 1998. CDW was formed for the
purpose of developing or acquiring pipeline projects and pipeline
capacity and associated products and services not subject to the
jurisdiction of the Federal Energy Regulatory Commission.
(f) Partnership interest in Cove Point LNG Limited Partnership. CLNG
Corporation and Cove Point Energy Company, Inc. are each general
partners in the Partnership. Each of the general partners has a one
(1%) percent ownership interest and fifty (50%) percent of the
Partnership's voting power. Columbia LNG Corporation and Pepco
Energy Company, Inc. each are limited partners of the Partnership,
holding respectively, forty-nine (49%) percent ownership interests
in the Partnership. The limited partners have no voting power
(except in certain extraordinary situations).
(g) On October 1, 1998, Columbia Energy Resources, Inc. was incorporated
in the state of Delaware. Columbia Energy Resources, Inc. was formed
as a holding company for Columbia Natural Resources, Inc., Hawg
Hauling and Disposal, Inc., Alamco-Delaware, Inc. and CNR-Canada,
Ltd.
(h) Partnership interest in Clarksburg Gas Limited Partnership. Columbia
Natural Resources, Inc. is a general partner with a 2% interest in
the partnership.
(i) During March 1998, CNR-Canada, Ltd. was formed as a Canadian
Corporation. CNR-Canada, Ltd. is engaged in the exploration and
production of oil and natural gas.
(j) Atlantic Energy, Inc. is an unconsolidated subsidiary of Columbia
Propane Corp., accounted for as an investment using the equity
method. Columbia Propane Corp. and Conoco, Inc. each have a fifty
percent (50%) ownership interest in the propane storage facility.
(k) In August 1998, Columbia Networks Services Corporation (CNS) paid
$778,592 in cash to acquire an additional 50% interest in EnergyNet,
LLC. EnergyNet, LLC became a wholly-owned subsidiary of CNS in
1998.
(l) Effective March 2, 1998, Columbia Power Marketing Corporation
changed its name to Columbia Energy Power Marketing Corporation
(CPM).
(m) Columbia Assurance Agency, Inc. (CAA) was incorporated in the state
of Ohio on June 23, 1997. CAA was formed to sell fixed and variable
annuities and life insurance.
(n) Energy.com was incorporated in the state of Delaware on December 15,
1997 and capitalized on May 7, 1998. Energy.com offers energy
related products and services through the internet.
(o) Columbia Transmission Communications Corporation (CTC) was
incorporated in the state of Delaware on October 20, 1998. CTC is
engaged in the development, construction and sale of high capacity
fiber optic networks.
(p) Partnership interest in Enertek Partners, L.P. (EnerTech). EnerTek
is a gas industry fund that invests in companies developing new
technologies to enhance the supply, transportation and utilization
of natural gas. The limited partners and their ownership interest
include Battelle Memorial Institute (8.26%); Brooklyn Union Gas
Company (16.32%), CNG Technologies, Inc. (16.54%); Enron Venture
Capital Company (16.54%); Equitable Resources, Inc. (8.26%),
Southern California Gas Company (16.54%); and TriStar Gas
Technologies, Inc. (16.54%). Scientific Advances, Inc. is the
general partner owning (1.00%)
(q) Partnership interest in Pedricktown Cogeneration Limited
Partnership. The general partners are Pedrick General, Inc. and
Columbia Electric Predrick General Corporation, each of which owns
one-half of the thirty percent (30%) general partnership interest.
The limited partners are Pedrick Limited, Inc. and Columbia Electric
Pedrick Limited Corporation, each of which owns one-half of the
seventy percent (70%) limited partnership interest. Pedrick General,
Inc. and Pedrick Limited, Inc. are subsidiaries of Atlantic
Generation, Inc.
(r) Columbia Electric Binghamton General Corporation and Binghamton
General, Inc., each of which owns one-third of the thirty percent
(30%) general partnership interest. The limited partners are
Binghamton Limited, Inc.; S.N.W. Binghamton II, L.P.; and Columbia
Electric Binghamton Limited Corporation, each of which owns
one-third of the seventy percent (70%) limited partnership interest.
Binghamton General, Inc. and Binghamton Limited, Inc. are
subsidiaries of Atlantic Generation, Inc. and S.N.W. Binghamton I,
L.P. and S.N.W. Binghamton II, L.P. are subsidiaries of Stone &
Webster Development Corp.
(s) Partnership interest in Vineland Cogeneration Limited Partnership.
The general partners are Vineland General, Inc. and Columbia
Electric Vineland General Corporation each of which owns one-half of
the ten percent (10%) general partnership interest. The limited
partners are Vineland Limited, Inc. and Columbia Electric Vineland
Limited Corporation, each of which owns one-half of the ninety
percent (90%) limited partnership interest. Vineland General, Inc.
and Vineland Limited, Inc. are subsidiaries of Atlantic Generation,
Inc.
7
<PAGE> 9
(t) Partnership interest in Rumford Cogeneration Company. The limited
partners and the percent of ownership interest of each include:
Columbia Electric Rumford Limited Corporation (10.2%), UtilCo
Group, Inc. (10.2%), Nichimen America, Inc. (10.2%), Dominion
Energy, Inc. (10.2%), Rumford Power Associates, Inc. (14.1%) and
Catamount Rumford Corp. (15.1%). Rumford Cogeneration, Inc. is the
general partner owning 30.0%.
(u) On November 6, 1998, TriStar Nine Corporation was renamed as
Columbia Electric Limited Holdings Corporation (CEH). CEH was formed
in order to acquire and maintain limited partnership holdings in
various projects. To date, CEH maintains limited holdings in the
Gregory Power Partnership, LP; Gregory Partners LLC; and Liberty
Electric Power LLC.
(v) Partnership Interest in Gregory Power Partners, L.P. The general
partners are Columbia Electric Gregory General Corporation and LG&E
Power Gregory IV Inc., each of which owns one-half of two percent
(2%). The limited partners are Columbia Electric Limited Holdings
Corporation and LG&E Power Gregory I Inc., each of which owns
one-half of ninety-eight percent (98%). LG&E Power Gregory IV Inc.
and LG&E Power Gregory I Inc. are subsidiaries of LG&E Power.
(w) Partnership Interest in Gregory Partners LLC. The general partners
are Columbia Electric Gregory Remington Corporation and LG&E Power
Gregory II Inc. each of which owns one-half of two percent (2%). The
limited partners are Columbia Electric Limited Holdings Corporation
and LG&E Power Gregory III Inc., each of which owns one-half of
ninety-eight percent (98%). LG&E Power Gregory II Inc. and LG&E
Power Gregory III Inc., are subsidiaries of LG&E Power.
(x) Partnership Interest in Liberty Electric Power LLC. The general
partners are Columbia Electric Liberty Corporation and Westcoast
Energy (U.S.) Inc., each of which owns one-half of two percent (2%).
The limited partners are Columbia Electric Limited Holdings
Corporation and Westcoast Power (U.S.) Inc., each of which owns one-
half of ninety-eight percent (98%). Westcoast Power (U.S.) Inc. and
Westcoast Energy (U.S.) Inc. are subsidiaries of Westcoast Power,
Inc.
(y) On November 6, 1998, TriStar Ten Corporation was renamed as Columbia
Electric Liberty Corporation (CEL). CEL was formed for the purpose
of participating in the Liberty Electric Power LLC Project, a
Delaware Limited Liability Corporation.
(z) Liberty Electric Power LLC was organized on July 10, 1998, in
connection with the development, ownership, financing, construction
and operating of a power generation project to be located in
Eddystone, Pennsylvania.
(aa) Partnership interest in Cogeneration Partners of America. Columbia
Electric Corporation and Atlantic Generation, Inc. each own 50%.
Cogneration Partners of America ceased operations in May 1994. The
activities formerly performed by Cogeneration Partners of America
are being performed Columbia Electric Corporation and Atlantic
Generation, Inc.
8
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ITEM 2. ACQUISITIONS OR SALES OF UTILITY ASSETS
None.
ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM SECURITIES
CONFIDENTIAL TREATMENT REQUESTED
9
<PAGE> 11
ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES DURING 1998
CONFIDENTIAL TREATMENT REQUESTED
10
<PAGE> 12
ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES DURING 1998
(Continued)
CONFIDENTIAL TREATMENT REQUESTED
11
<PAGE> 13
ITEM 4. (Continued)
Notes
CONFIDENTIAL TREATMENT REQUESTED
ITEM 5. INVESTMENTS IN SECURITIES OF NONSYSTEM COMPANIES
CONFIDENTIAL TREATMENT REQUESTED
12
<PAGE> 14
ITEM 6. OFFICERS AND DIRECTORS
Part I. Names, principal business address and positions held as of December
31, 1998.
The names, principal address and positions held as of December 31, 1998 of the
officers and directors of System companies is presented in the tables on pages
15 through 54. The principal business address of each officer and director is
indicated in such tables by the numbers (1) through (35). The addresses
associated with these number designations are shown in the following address
key. The symbols used to indicate the positions held by officers and directors
are shown in the position symbol key below.
Ref.# Address
- ----- -------------------------------
1 13880 Dulles Corner Lane, Herndon, Virginia 20171-4600
2 200 Civic Center Drive, Columbus, Ohio 43215
3 10 G Street, NE, Suite 580, Washington, D.C. 20002
4 77 Beachside Avenue, Green Farms, Connecticut 06436
5 2077 Jupiter Hills Lane, Henderson, Nevada 89012
6 10 Harleston Green, Hilton Head, South Carolina 29928
7 62 Sherwood Drive, New Providence, New Jersey 07974
8 One Seagate, Suite 1400, Toledo, Ohio43653
9 4680 Parkway Drive, Suite 200, Mason, Ohio 45040-5301
10 15501 North Dial Boulevard, Scottsdale, Arizona 85260-1619
11 8905 E. Doughlas Avenue, Wichita, Kansas 67207
12 R. R. No. 1, Box 31D Route 343, Millbrook, New York 12545
13 2603 Augusta, Houston, Texas 77057-5637
14 205 Bricker Hall, 190 North Oval Mall, Columbus, Ohio 43210
15 51 Brams Point Road, Hilton Head, South Carolina 29926
16 1455 Pennsylvania Avenue, Washington, DC 20004
17 9200 Arboretum Parkway, Richmond, Virginia 23235
18 900 Pennsylvania Avenue, Charleston, West Virginia 25302
19 2100 Cove Point Road, Lusby, Maryland 20657
20 14 Brookside Rd., Biltmore Forest, Asheveille, North Carolina 28803
21 No. 4 Bottomley Crescent, New Albany, Ohio 43054
22 509 Preston Avenue, Blacksburg, Virginia 24060
23 12801 Fair Lakes Parkway, Fairfax, Virginia 22030
24 2001 Mercer Road, Lexington, Kentucky 40511
25 9001 Arboretum Parkway, Richmond, Virginia 23236
26 650 Washington Road, Pittsburgh, Pennsylvania 15228-2703
27 505 King Avenue, Columbus, Ohio 43201-2693
28 121 Hillpointe Drive, #100, Canonsburg, Pennsylvania 15317
29 P.O. Box 2197, Houston , Texas77252
30 120 Arrandale Boulevard, Exton, Pennsylvania 19341-2512
31 700 13th Street NW, Washington, DC20005
32 5501 Frantz Road, Dublin, Ohio 43017
33 1330 Post Oak Boulevard, 20th Floor, Houston, Texas 77056
34 921 Easwind Drive, Suite 112, Westerville, Ohio 43081
35 1700 MacCorkle Avenue, S.E., Charleston, West Virginia 23236
13
<PAGE> 15
POSITION KEY CODE
<TABLE>
<CAPTION>
KEY
<S> <C> <C> <C>
CB - Chairman of the Board CLO - Chief Legal Officer S - Secretary
D - Director P - President C - Controller
CEO - Chief Executive Officer SVP - Senior Vice President GA - General Auditor
COO - Chief Operating Officer VP - Vice President GC - General Counsel
CFO - Chief Financial Officer T - Treasurer
</TABLE>
14
<PAGE> 16
ITEM 6. Continued
<TABLE>
<CAPTION>
==========================================================================================================================
CKY COH CMD CPA CGV CS CLG CLNG CER CNR HH AD CU
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- --------------------------------------------------------------------------------------------------------------------------
Catherine G. Abbott
Fairfax, Virginia (23) D
- --------------------------------------------------------------------------------------------------------------------------
Carolyn M. Afshar
Herndon, Virginia (1) S
- --------------------------------------------------------------------------------------------------------------------------
Richard F. Albosta
New Providence, New Jersey (7) D
- --------------------------------------------------------------------------------------------------------------------------
Philip R. Aldridge
Herndon, Virginia (1) VP
- --------------------------------------------------------------------------------------------------------------------------
Steven R. Anastasio
Herndon, Virginia (1) VP
- --------------------------------------------------------------------------------------------------------------------------
Carmen Andreoli
Houston, Texas (33)
- --------------------------------------------------------------------------------------------------------------------------
Michael Ashford
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
Gary W. Babin
Columbus, Ohio (2) VP
- --------------------------------------------------------------------------------------------------------------------------
Ross E. Bailey
Herndon, Virginia (1) VP
- --------------------------------------------------------------------------------------------------------------------------
Gary A. Barnard
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------------------------------------------------
T. J. Barrymore
Herndon, Virginia (1) S S
- --------------------------------------------------------------------------------------------------------------------------
Laura M. Bateman
Richmond, Virginia (25) VP
- --------------------------------------------------------------------------------------------------------------------------
Richard W. Beardsley
Charleston, West Virginia (18) VP VP
- --------------------------------------------------------------------------------------------------------------------------
Margaret W. Beasley
Richmond, Virginia (17)
- --------------------------------------------------------------------------------------------------------------------------
Robert H. Beeby
Green Farms, Connecticut (4) D
- --------------------------------------------------------------------------------------------------------------------------
Napoleon A. Bell
Henderson, Nevada (5) D
- --------------------------------------------------------------------------------------------------------------------------
Tejinder S. Bindra
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
15
<PAGE> 17
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CG CPC AEI CES CEM CPM CSP ECC CAA CCC CTC TGT CNS
<S> <C> <C> <C> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------------------------
Catherine G. Abbott
Fairfax, Virginia (23) D D
- ---------------------------------------------------------------------------------------------------------------------------
Carolyn M. Afshar
Herndon, Virginia (1) S
- ---------------------------------------------------------------------------------------------------------------------------
Richard F. Albosta
New Providence, New Jersey (7) D
- ---------------------------------------------------------------------------------------------------------------------------
Philip R. Aldridge P
Herndon, Virginia (1) P P D
- ---------------------------------------------------------------------------------------------------------------------------
Steven R. Anastasio
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Carmen Andreoli
Houston, Texas (33) VP
- ---------------------------------------------------------------------------------------------------------------------------
Michael Ashford
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Gary W. Babin
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
Ross E. Bailey
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Gary A. Barnard
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
T. J. Barrymore
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Laura M. Bateman
Richmond, Virginia (25)
- ---------------------------------------------------------------------------------------------------------------------------
Richard W. Beardsley
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
Margaret W. Beasley
Richmond, Virginia (17) S S
- ---------------------------------------------------------------------------------------------------------------------------
Robert H. Beeby
Green Farms, Connecticut (4) D
- ---------------------------------------------------------------------------------------------------------------------------
Napoleon A. Bell
Henderson, Nevada (5)
- ---------------------------------------------------------------------------------------------------------------------------
Tejinder S. Bindra
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
16
<PAGE> 18
ITEM 6. Continued
<TABLE>
<CAPTION>
============================================================================================================================
CMC EN CIC CPL CDW CAT CEC CGP CLP CBG CBL CVG CVL
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Catherine G. Abbott
Fairfax, Virginia (23) D
- ----------------------------------------------------------------------------------------------------------------------------
Carolyn M. Afshar
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
Richard F. Albosta
New Providence, New Jersey (7)
- ----------------------------------------------------------------------------------------------------------------------------
Philip R. Aldridge P D
Herndon, Virginia (1) D P P
- ----------------------------------------------------------------------------------------------------------------------------
Steven R. Anastasio
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
Carmen Andreoli
Houston, Texas (33)
- ----------------------------------------------------------------------------------------------------------------------------
Michael Ashford
Herndon, Virginia (1) S
- ----------------------------------------------------------------------------------------------------------------------------
Gary W. Babin
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------
Ross E. Bailey
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
Gary A. Barnard
Charleston, West Virginia (35)
- ----------------------------------------------------------------------------------------------------------------------------
T. J. Barrymore
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
Laura M. Bateman
Richmond, Virginia (25)
- ----------------------------------------------------------------------------------------------------------------------------
Richard W. Beardsley
Charleston, West Virginia (18)
- ----------------------------------------------------------------------------------------------------------------------------
Margaret W. Beasley
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------
Robert H. Beeby
Green Farms, Connecticut (4)
- ----------------------------------------------------------------------------------------------------------------------------
Napoleon A. Bell
Henderson, Nevada (5)
- ----------------------------------------------------------------------------------------------------------------------------
Tejinder S. Bindra
Herndon, Virginia (1) D
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
17
<PAGE> 19
ITEM 6. Continued
<TABLE>
<CAPTION>
================================================================================
CRL CEH CGG CGR CEL TCO CGT
- --------------------------------------------------------------------------------
<S> <C> <C>
Catherine G. Abbott D, P D
Fairfax, Virginia (23) CEO CEO
- --------------------------------------------------------------------------------
Carolyn M. Afshar
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Richard F. Albosta
New Providence, New Jersey (7)
- --------------------------------------------------------------------------------
Philip R. Aldridge
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Steven R. Anastasio
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Carmen Andreoli
Houston, Texas (33)
- --------------------------------------------------------------------------------
Michael Ashford
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Gary W. Babin
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
Ross E. Bailey
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Gary A. Barnard T T
Charleston, West Virginia (35) C C
- --------------------------------------------------------------------------------
T. J. Barrymore
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Laura M. Bateman
Richmond, Virginia (25)
- --------------------------------------------------------------------------------
Richard W. Beardsley
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
Margaret W. Beasley
Richmond, Virginia (17)
- --------------------------------------------------------------------------------
Robert H. Beeby
Green Farms, Connecticut (4)
- --------------------------------------------------------------------------------
Napoleon A. Bell
Henderson, Nevada (5)
- --------------------------------------------------------------------------------
Tejinder S. Bindra
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
</TABLE>
18
<PAGE> 20
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CKY COH CMD CPA CGV CS CLG CLNG CER CNR HH AD CU
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Mary C. Bloom
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Douglas G. Borror
Dublin, Ohio (32) D
- ---------------------------------------------------------------------------------------------------------------------------
Debbie Bowyer
Charleston, West Virginia (18) T
- ---------------------------------------------------------------------------------------------------------------------------
Andrew Mason Brent
Richmond, Virginia (17)
- ---------------------------------------------------------------------------------------------------------------------------
L. Michael Bridges CEO CEO
Herndon, Virginia (1) P,D P,D
- ---------------------------------------------------------------------------------------------------------------------------
Donald A. Brooks
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Wilson K. Cadman
Wichita, Kansas (11) D
- ---------------------------------------------------------------------------------------------------------------------------
Reginald L. Carter
Columbus, Ohio (2) SVP
- ---------------------------------------------------------------------------------------------------------------------------
Richard Casali
Washington, DC (3) VP
- ---------------------------------------------------------------------------------------------------------------------------
Michael Casdorph
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Shawn E. Casey
Charleston, West Virginia (18) VP
- ---------------------------------------------------------------------------------------------------------------------------
Mark A. Chandler VP VP D D
Charleston, West Virginia (18) T CFO T VP,T T
- ---------------------------------------------------------------------------------------------------------------------------
Kenneth W. Christman
Pittsburgh, Pennsylvania (26) GC GC
- ---------------------------------------------------------------------------------------------------------------------------
Neil K. Cody
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Mark C. Darell GC
Richmond, Virginia (25) D
- ---------------------------------------------------------------------------------------------------------------------------
Rene Dartez
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Bruce Dawson
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
19
<PAGE> 21
ITEM 6. Continued
<TABLE>
<CAPTION>
==========================================================================================================================
CG CPC AEI CES CEM CPM CSP ECC CAA CCC CTC TGT CNS
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Mary C. Bloom
Fairfax, Virginia (23)
- --------------------------------------------------------------------------------------------------------------------------
Douglas G. Borror
Dublin, Ohio (32)
- --------------------------------------------------------------------------------------------------------------------------
Debbie Bowyer
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------------------------------------------------
Andrew Mason Brent P CB
Richmond, Virginia (17) D D
- --------------------------------------------------------------------------------------------------------------------------
L. Michael Bridges
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
Donald A. Brooks
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------------------------------------------------
Wilson K. Cadman
Wichita, Kansas (11) D
- --------------------------------------------------------------------------------------------------------------------------
Reginald L. Carter
Columbus, Ohio (2)
- --------------------------------------------------------------------------------------------------------------------------
Richard Casali
Washington, DC (3)
- --------------------------------------------------------------------------------------------------------------------------
Michael Casdorph
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------------------------------------------------
Shawn E. Casey
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------------------------------------------------
Mark A. Chandler
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------------------------------------------------
Kenneth W. Christman
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------------------------------------------------
Neil K. Cody
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
Mark C. Darell
Richmond, Virginia (25)
- --------------------------------------------------------------------------------------------------------------------------
Rene Dartez
Houston, Texas (13)
- --------------------------------------------------------------------------------------------------------------------------
Bruce Dawson
Herndon, Virginia (1) VP
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
20
<PAGE> 22
ITEM 6. Continued
<TABLE>
<CAPTION>
============================================================================================================================
CMC EN CIC CPL CDW CAT CEC CGP CLP CBG CBL CVG CVL
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C>
Mary C. Bloom
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------
Douglas G. Borror
Dublin, Ohio (32)
- ----------------------------------------------------------------------------------------------------------------------------
Debbie Bowyer
Charleston, West Virginia (18)
- ----------------------------------------------------------------------------------------------------------------------------
Andrew Mason Brent
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------
L. Michael Bridges P,CEO
Herndon, Virginia (1) D
- ----------------------------------------------------------------------------------------------------------------------------
Donald A. Brooks
Charleston, West Virginia (35)
- ----------------------------------------------------------------------------------------------------------------------------
Wilson K. Cadman
Wichita, Kansas (11)
- ----------------------------------------------------------------------------------------------------------------------------
Reginald L. Carter
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------
Richard Casali
Washington, DC (3)
- ----------------------------------------------------------------------------------------------------------------------------
Michael Casdorph
Charleston, West Virginia (35)
- ----------------------------------------------------------------------------------------------------------------------------
Shawn E. Casey
Charleston, West Virginia (18)
- ----------------------------------------------------------------------------------------------------------------------------
Mark A. Chandler
Charleston, West Virginia (18)
- ----------------------------------------------------------------------------------------------------------------------------
Kenneth W. Christman
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------
Neil K. Cody
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
Mark C. Darell
Richmond, Virginia (25)
- ----------------------------------------------------------------------------------------------------------------------------
Rene Dartez
Houston, Texas (13)
- ----------------------------------------------------------------------------------------------------------------------------
Bruce Dawson
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
21
<PAGE> 23
ITEM 6. Continued
<TABLE>
<CAPTION>
================================================================================
CRL CEH CGG CGR CEL TCO CGT
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Mary C. Bloom
Fairfax, Virginia (23) VP
- --------------------------------------------------------------------------------
Douglas G. Borror
Dublin, Ohio (32)
- --------------------------------------------------------------------------------
Debbie Bowyer
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
Andrew Mason Brent
Richmond, Virginia (17)
- --------------------------------------------------------------------------------
L. Michael Bridges
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Donald A. Brooks
Charleston, West Virginia (35) VP
- --------------------------------------------------------------------------------
Wilson K. Cadman
Wichita, Kansas (11)
- --------------------------------------------------------------------------------
Reginald L. Carter
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
Richard Casali
Washington, DC (3)
- --------------------------------------------------------------------------------
Michael Casdorph
Charleston, West Virginia (35) SVP
- --------------------------------------------------------------------------------
Shawn E. Casey
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
Mark A. Chandler
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
Kenneth W. Christman
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------
Neil K. Cody
Herndon, Virginia (1) VP VP VP
- --------------------------------------------------------------------------------
Mark C. Darell
Richmond, Virginia (25)
- --------------------------------------------------------------------------------
Rene Dartez
Houston, Texas (13) VP
- --------------------------------------------------------------------------------
Bruce Dawson
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
</TABLE>
22
<PAGE> 24
ITEM 6. Continued
<TABLE>
<CAPTION>
==========================================================================================================================
CKY COH CMD CPA CGV CS CLG CLNG CER CNR HH AD CU
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Clay Deaton
Houston, Texas (33)
- --------------------------------------------------------------------------------------------------------------------------
Dennis P. Detar
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
Bruce M. Diamond
Herndon, Virginia (1) VP
- --------------------------------------------------------------------------------------------------------------------------
James H. Dissen
Charleston, West Virginia (18) VP
- --------------------------------------------------------------------------------------------------------------------------
Sheree L. Parks Downey
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------------------------------------------------
Scott S. Eblin
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------------------------------------------------
John T. Fay
Herndon, Virginia (1) VP
- --------------------------------------------------------------------------------------------------------------------------
Paul Feldman
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
Mark A. Ferman
Charleston, West Virginia (18) VP
- --------------------------------------------------------------------------------------------------------------------------
Sharon Flanery
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------------------------------------------------
Louis E. Font SVP
Herndon, Virginia (1) D
- --------------------------------------------------------------------------------------------------------------------------
Michael J. Fox
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
Donato Furlano
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
V. Galio
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------------------------------------------------
Phil Glaessner
Houston, Texas (33)
- --------------------------------------------------------------------------------------------------------------------------
Dr. Michael J. Gluckman
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
Stephen E. Greene
Columbus, Ohio (2) VP
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
23
<PAGE> 25
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CG CPC AEI CES CEM CPM CSP ECC CAA CCC CTC TGT CNS
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Clay Deaton
Houston, Texas (33) VP VP VP
- ---------------------------------------------------------------------------------------------------------------------------
Dennis P. Detar
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Bruce M. Diamond
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
James H. Dissen
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
Sheree L. Parks Downey
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Scott S. Eblin
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
John T. Fay
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Paul Feldman CEO CEO CEO CEO CEO P
Herndon, Virginia (1) D,P D,P D,P D,P D D
- ---------------------------------------------------------------------------------------------------------------------------
Mark A. Ferman
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
Sharon Flanery
Charleston, West Virginia (35) S
- ---------------------------------------------------------------------------------------------------------------------------
Louis E. Font
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Michael J. Fox
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Donato Furlano
Herndon, Virginia (1) T
- ---------------------------------------------------------------------------------------------------------------------------
V. Galio
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Phil Glaessner
Houston, Texas (33) SVP SVP SVP
- ---------------------------------------------------------------------------------------------------------------------------
Dr. Michael J. Gluckman
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Stephen E. Greene
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
24
<PAGE> 26
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CMC EN CIC CPL CDW CAT CEC CGP CLP CBG CBL CVG CVL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Clay Deaton
Houston, Texas (33)
- ---------------------------------------------------------------------------------------------------------------------------
Dennis P. Detar
Herndon, Virginia (1) T T T T T T T
- ---------------------------------------------------------------------------------------------------------------------------
Bruce M. Diamond
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
James H. Dissen
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
Sheree L. Parks Downey
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Scott S. Eblin
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
John T. Fay
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Paul Feldman
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Mark A. Ferman
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
Sharon Flanery
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Louis E. Font
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Michael J. Fox
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Donato Furlano
Herndon, Virginia (1) T
- ---------------------------------------------------------------------------------------------------------------------------
V. Galio
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Phil Glaessner
Houston, Texas (33)
- ---------------------------------------------------------------------------------------------------------------------------
Dr. Michael J. Gluckman CB,P CEO CEO CEO CEO CEO CEO
Herndon, Virginia (1) CEO,D P,D P,D P,D P,D P,D P,D
- ---------------------------------------------------------------------------------------------------------------------------
Stephen E. Greene
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
25
<PAGE> 27
ITEM 6. Continued
<TABLE>
<CAPTION>
================================================================================
CRL CEH CGG CGR CEL TCO CGT
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Clay Deaton
Houston, Texas (33)
- --------------------------------------------------------------------------------
Dennis P. Detar
Herndon, Virginia (1) T T T T T
- --------------------------------------------------------------------------------
Bruce M. Diamond
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
James H. Dissen
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
Sheree L. Parks Downey
Charleston, West Virginia (35) VP
- --------------------------------------------------------------------------------
Scott S. Eblin
Charleston, West Virginia (35) VP VP
- --------------------------------------------------------------------------------
John T. Fay
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Paul Feldman
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Mark A. Ferman
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
Sharon Flanery
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------
Louis E. Font
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Michael J. Fox
Herndon, Virginia (1) VP
- --------------------------------------------------------------------------------
Donato Furlano
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
V. Galio
Charleston, West Virginia (35) VP
- --------------------------------------------------------------------------------
Phil Glaessner
Houston, Texas (33)
- --------------------------------------------------------------------------------
Dr. Michael J. Gluckman CEO CEO CB,P CB,P CEO
Herndon, Virginia (1) P,D P,D CEO,D CEO,D P,D
- --------------------------------------------------------------------------------
Stephen E. Greene
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
</TABLE>
26
<PAGE> 28
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CKY COH CMD CPA CGV CS CLG CLNG CER CNR HH AD CU
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Jeffrey W. Grossman VP
Herndon, Virginia (1) C
- ---------------------------------------------------------------------------------------------------------------------------
Frederick R. Gumbinner
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Patricia A. Hammick SVP
Herndon, Virginia (1) D
- ---------------------------------------------------------------------------------------------------------------------------
Janis L. Hannuksela
Richmond, Virginia (25) T
- ---------------------------------------------------------------------------------------------------------------------------
Michael Hardy
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
William H. Harmon P P P P,CEO
Charleston, West Virginia (18) CEO,D D D D
- ---------------------------------------------------------------------------------------------------------------------------
James W. Hart, Jr.
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Edward D. Harvey, Jr.
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Stephen J. Harvey
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Sharon B. Heaton GC
Herndon, Virginia (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
W. F. Hederman
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
James P. Heffernan
Millbrook, New York (12) D
- ---------------------------------------------------------------------------------------------------------------------------
Karen L. Hendrick
Mason, Ohio (9) D
- ---------------------------------------------------------------------------------------------------------------------------
Malcolm T. Hopkins
Asheville, North Carolina (20) D
- ---------------------------------------------------------------------------------------------------------------------------
John Hritcko, Jr.
Herndon, Virginia (1) D
- ---------------------------------------------------------------------------------------------------------------------------
Thomas L. Hughes
Herndon, Virginia (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
Philip J. Iracane
Richmond, Virginia (25) VP
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
27
<PAGE> 29
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CG CPC AEI CES CEM CPM CSP ECC CAA CCC CTC TGT CNS
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Jeffrey W. Grossman VP
Herndon, Virginia (1) C T C T
- ---------------------------------------------------------------------------------------------------------------------------
Frederick R. Gumbinner
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Patricia A. Hammick
Herndon, Virginia (1) D
- ---------------------------------------------------------------------------------------------------------------------------
Janis L. Hannuksela
Richmond, Virginia (25)
- ---------------------------------------------------------------------------------------------------------------------------
Michael Hardy
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
William H. Harmon
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
James W. Hart, Jr.
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Edward D. Harvey, Jr.
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Stephen J. Harvey
Herndon, Virginia (1) SVP SVP SVP D
- ---------------------------------------------------------------------------------------------------------------------------
Sharon B. Heaton
Herndon, Virginia (1) S D
- ---------------------------------------------------------------------------------------------------------------------------
W. F. Hederman
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
James P. Heffernan
Millbrook, New York (12) D
- ---------------------------------------------------------------------------------------------------------------------------
Karen L. Hendrick
Mason, Ohio (9) D
- ---------------------------------------------------------------------------------------------------------------------------
Malcolm T. Hopkins
Asheville, North Carolina (20) D
- ---------------------------------------------------------------------------------------------------------------------------
John Hritcko, Jr.
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Thomas L. Hughes
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Philip J. Iracane
Richmond, Virginia (25)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
28
<PAGE> 30
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CMC EN CIC CPL CDW CAT CEC CGP CLP CBG CBL CVG CVL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Jeffrey W. Grossman T
Herndon, Virginia (1) D T T D
- ---------------------------------------------------------------------------------------------------------------------------
Frederick R. Gumbinner D D D D D D
Herndon, Virginia (1) S S S S S S S
- ---------------------------------------------------------------------------------------------------------------------------
Patricia A. Hammick
Herndon, Virginia (1) D
- ---------------------------------------------------------------------------------------------------------------------------
Janis L. Hannuksela
Richmond, Virginia (25)
- ---------------------------------------------------------------------------------------------------------------------------
Michael Hardy
Herndon, Virginia (1) D
- ---------------------------------------------------------------------------------------------------------------------------
William H. Harmon
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
James W. Hart, Jr.
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Edward D. Harvey, Jr.
Herndon, Virginia (1) T T
- ---------------------------------------------------------------------------------------------------------------------------
Stephen J. Harvey
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Sharon B. Heaton
Herndon, Virginia (1) D,VP S S S
- ---------------------------------------------------------------------------------------------------------------------------
W. F. Hederman
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
James P. Heffernan
Millbrook, New York (12)
- ---------------------------------------------------------------------------------------------------------------------------
Karen L. Hendrick
Mason, Ohio (9)
- ---------------------------------------------------------------------------------------------------------------------------
Malcolm T. Hopkins
Asheville, North Carolina (20)
- ---------------------------------------------------------------------------------------------------------------------------
John Hritcko, Jr.
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Thomas L. Hughes
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Philip J. Iracane
Richmond, Virginia (25)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
29
<PAGE> 31
ITEM 6. Continued
<TABLE>
<CAPTION>
================================================================================
CRL CEH CGG CGR CEL TCO CGT
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Jeffrey W. Grossman
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Frederick R. Gumbinner D D D
Herndon, Virginia (1) S S S
- --------------------------------------------------------------------------------
Patricia A. Hammick
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Janis L. Hannuksela
Richmond, Virginia (25)
- --------------------------------------------------------------------------------
Michael Hardy
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
William H. Harmon
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
James W. Hart, Jr.
Houston, Texas (13) VP
- --------------------------------------------------------------------------------
Edward D. Harvey, Jr.
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Stephen J. Harvey
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Sharon B. Heaton
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
W. F. Hederman
Fairfax, Virginia (23) VP
- --------------------------------------------------------------------------------
James P. Heffernan
Millbrook, New York (12)
- --------------------------------------------------------------------------------
Karen L. Hendrick
Mason, Ohio (9)
- --------------------------------------------------------------------------------
Malcolm T. Hopkins
Asheville, North Carolina (20)
- --------------------------------------------------------------------------------
John Hritcko, Jr.
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Thomas L. Hughes
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Philip J. Iracane
Richmond, Virginia (25)
- --------------------------------------------------------------------------------
</TABLE>
30
<PAGE> 32
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CKY COH CMD CPA CGV CS CLG CLNG CER CNR HH AD CU
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Edward P. Jarmas
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
James A. Jarrell
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Mike John
Charleston, West Virginia (18) VP
- ---------------------------------------------------------------------------------------------------------------------------
J. Bennett Johnston
Washington, D.C. (16) D
- ---------------------------------------------------------------------------------------------------------------------------
Malcolm Jozoff
Scottsdale, Arizona (10) D
- ---------------------------------------------------------------------------------------------------------------------------
Joseph W. Kelly VP
Lexington, Kentucky (24) COO
- ---------------------------------------------------------------------------------------------------------------------------
Charlotte P. Kessler
New Albany, Ohio (21) D
- ---------------------------------------------------------------------------------------------------------------------------
Glen L. Kettering
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Peter J. Kinsella
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
William E. Kirwan
Columbus, Ohio (14) D
- ---------------------------------------------------------------------------------------------------------------------------
Fredrick G. Kolb D
Charleston, West Virginia (18) VP VP VP VP
- ---------------------------------------------------------------------------------------------------------------------------
Marshall D. Lang
Canonsburg, Pennsylvania (28)
- ---------------------------------------------------------------------------------------------------------------------------
Nancy Laranjo
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
William J, Lavelle
Columbus, Ohio (2) VP VP VP VP
- ---------------------------------------------------------------------------------------------------------------------------
William E. Lavery
Blacksburg, Virginia (22) D
- ---------------------------------------------------------------------------------------------------------------------------
Rick Lawler
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
James R. Lee
Columbus, Ohio (2) SVP SVP SVP SVP SVP
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
31
<PAGE> 33
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CG CPC AEI CES CEM CPM CSP ECC CAA CCC CTC TGT CNS
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Edward P. Jarmas
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
James A. Jarrell
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Mike John
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
J. Bennett Johnston
Washington, D.C. (16) D
- ---------------------------------------------------------------------------------------------------------------------------
Malcolm Jozoff
Scottsdale, Arizona (10) D
- ---------------------------------------------------------------------------------------------------------------------------
Joseph W. Kelly
Lexington, Kentucky (24)
- ---------------------------------------------------------------------------------------------------------------------------
Charlotte P. Kessler
New Albany, Ohio (21)
- ---------------------------------------------------------------------------------------------------------------------------
Glen L. Kettering
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Peter J. Kinsella
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
William E. Kirwan
Columbus, Ohio (14)
- ---------------------------------------------------------------------------------------------------------------------------
Fredrick G. Kolb
Charleston, West Virginia (18) VP
- ---------------------------------------------------------------------------------------------------------------------------
Marshall D. Lang
Canonsburg, Pennsylvania (28) VP VP VP
- ---------------------------------------------------------------------------------------------------------------------------
Nancy Laranjo
Herndon, Virginia (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
William J, Lavelle
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
William E. Lavery
Blacksburg, Virginia (22) D
- ---------------------------------------------------------------------------------------------------------------------------
Rick Lawler C
Herndon, Virginia (1) T T D
- ---------------------------------------------------------------------------------------------------------------------------
James R. Lee
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
32
<PAGE> 34
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CMC EN CIC CPL CDW CAT CEC CGP CLP CBG CBL CVG CVL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C>
Edward P. Jarmas
Herndon, Virginia (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
James A. Jarrell
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Mike John
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
J. Bennett Johnston
Washington, D.C. (16)
- ---------------------------------------------------------------------------------------------------------------------------
Malcolm Jozoff
Scottsdale, Arizona (10)
- ---------------------------------------------------------------------------------------------------------------------------
Joseph W. Kelly
Lexington, Kentucky (24)
- ---------------------------------------------------------------------------------------------------------------------------
Charlotte P. Kessler
New Albany, Ohio (21)
- ---------------------------------------------------------------------------------------------------------------------------
Glen L. Kettering
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Peter J. Kinsella
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
William E. Kirwan
Columbus, Ohio (14)
- ---------------------------------------------------------------------------------------------------------------------------
Fredrick G. Kolb
Charleston, West Virginia (18) VP
- ---------------------------------------------------------------------------------------------------------------------------
Marshall D. Lang
Canonsburg, Pennsylvania (28)
- ---------------------------------------------------------------------------------------------------------------------------
Nancy Laranjo
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
William J, Lavelle
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
William E. Lavery
Blacksburg, Virginia (22)
- ---------------------------------------------------------------------------------------------------------------------------
Rick Lawler
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
James R. Lee
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
33
<PAGE> 35
ITEM 6. Continued
<TABLE>
<CAPTION>
================================================================================
CRL CEH CGG CGR CEL TCO CGT
- --------------------------------------------------------------------------------
<S> <C>
Edward P. Jarmas
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
James A. Jarrell S
Charleston, West Virginia (35) GC
- --------------------------------------------------------------------------------
Mike John
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
J. Bennett Johnston
Washington, D.C. (16)
- --------------------------------------------------------------------------------
Malcolm Jozoff
Scottsdale, Arizona (10)
- --------------------------------------------------------------------------------
Joseph W. Kelly
Lexington, Kentucky (24)
- --------------------------------------------------------------------------------
Charlotte P. Kessler
New Albany, Ohio (21)
- --------------------------------------------------------------------------------
Glen L. Kettering D
Fairfax, Virginia (23) SVP
- --------------------------------------------------------------------------------
Peter J. Kinsella
Fairfax, Virginia (23) VP
- --------------------------------------------------------------------------------
William E. Kirwan
Columbus, Ohio (14)
- --------------------------------------------------------------------------------
Fredrick G. Kolb
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
Marshall D. Lang
Canonsburg, Pennsylvania (28)
- --------------------------------------------------------------------------------
Nancy Laranjo
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
William J, Lavelle
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
William E. Lavery
Blacksburg, Virginia (22)
- --------------------------------------------------------------------------------
Rick Lawler
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
James R. Lee
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
</TABLE>
34
<PAGE> 36
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CKY COH CMD CPA CGV CS CLG CLNG CER CNR HH AD CU
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Ed R. Lincoln
Charleston, West Virginia (18) C C
- ---------------------------------------------------------------------------------------------------------------------------
Christopher J. Lord
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
C. Thomas Lowrie
Pittsburgh, Pennsylvania (26) VP VP
- ---------------------------------------------------------------------------------------------------------------------------
David L. Lugar
Houston, Texas (29)
- ---------------------------------------------------------------------------------------------------------------------------
Stephen T. MacQueen D
Lusby, Maryland (19) C C
- ---------------------------------------------------------------------------------------------------------------------------
Philip L. Magley SVP
Herndon, Virginia (1) D
- ---------------------------------------------------------------------------------------------------------------------------
Kenneth H. Marks, Jr.
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
W. Harris Marple
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Stuart C. Maudlin
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Gerald E. Mayo
Hilton Head, S. Carolina (15) D
- ---------------------------------------------------------------------------------------------------------------------------
Don McClure
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Dennis W. McFarland SVP
Columbus, Ohio (2) T T
- ---------------------------------------------------------------------------------------------------------------------------
James A. McGehee, Jr.
Richmond, Virginia (17)
- ---------------------------------------------------------------------------------------------------------------------------
Terrance L. McGill
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Steve R. Melton
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Jeffrey A. Meyers
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Ellen L. Milnes
Columbus, Ohio (2) VP
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
35
<PAGE> 37
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CG CPC AEI CES CEM CPM CSP ECC CAA CCC CTC TGT CNS
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Ed R. Lincoln
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
Christopher J. Lord
Herndon, Virginia (1) S
- ---------------------------------------------------------------------------------------------------------------------------
C. Thomas Lowrie
Pittsburgh, Pennsylvania (26)
- ---------------------------------------------------------------------------------------------------------------------------
David L. Lugar P
Houston, Texas (29) D
- ---------------------------------------------------------------------------------------------------------------------------
Stephen T. MacQueen
Lusby, Maryland (19)
- ---------------------------------------------------------------------------------------------------------------------------
Philip L. Magley
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Kenneth H. Marks, Jr.
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
W. Harris Marple
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Stuart C. Maudlin
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Gerald E. Mayo
Hilton Head, S. Carolina (15) D
- ---------------------------------------------------------------------------------------------------------------------------
Don McClure CFO CFO CFO CFO
Herndon, Virginia (1) D,T D,T D,T D CFO
- ---------------------------------------------------------------------------------------------------------------------------
Dennis W. McFarland
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
James A. McGehee, Jr. VP
Richmond, Virginia (17) D
- ---------------------------------------------------------------------------------------------------------------------------
Terrance L. McGill
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Steve R. Melton
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Jeffrey A. Meyers
Herndon, Virginia (1) VP D
- ---------------------------------------------------------------------------------------------------------------------------
Ellen L. Milnes
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
36
<PAGE> 38
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CMC EN CIC CPL CDW CAT CEC CGP CLP CBG CBL CVG CVL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Ed R. Lincoln
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
Christopher J. Lord
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
C. Thomas Lowrie
Pittsburgh, Pennsylvania (26)
- ---------------------------------------------------------------------------------------------------------------------------
David L. Lugar
Houston, Texas (29)
- ---------------------------------------------------------------------------------------------------------------------------
Stephen T. MacQueen
Lusby, Maryland (19)
- ---------------------------------------------------------------------------------------------------------------------------
Philip L. Magley
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Kenneth H. Marks, Jr.
Herndon, Virginia (1) S
- ---------------------------------------------------------------------------------------------------------------------------
W. Harris Marple
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Stuart C. Maudlin
Houston, Texas (13) P
- ---------------------------------------------------------------------------------------------------------------------------
Gerald E. Mayo
Hilton Head, S. Carolina (15)
- ---------------------------------------------------------------------------------------------------------------------------
Don McClure
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Dennis W. McFarland
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
James A. McGehee, Jr.
Richmond, Virginia (17)
- ---------------------------------------------------------------------------------------------------------------------------
Terrance L. McGill
Houston, Texas (13) D D
- ---------------------------------------------------------------------------------------------------------------------------
Steve R. Melton
Houston, Texas (13)
- ---------------------------------------------------------------------------------------------------------------------------
Jeffrey A. Meyers
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Ellen L. Milnes
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
37
<PAGE> 39
ITEM 6. Continued
<TABLE>
<CAPTION>
================================================================================
CRL CEH CGG CGR CEL TCO CGT
- --------------------------------------------------------------------------------
<S> <C> <C>
Ed R. Lincoln
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
Christopher J. Lord
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
C. Thomas Lowrie
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------
David L. Lugar
Houston, Texas (29)
- --------------------------------------------------------------------------------
Stephen T. MacQueen
Lusby, Maryland (19)
- --------------------------------------------------------------------------------
Philip L. Magley
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Kenneth H. Marks, Jr.
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
W. Harris Marple
Houston, Texas (13) VP
- --------------------------------------------------------------------------------
Stuart C. Maudlin
Houston, Texas (13)
- --------------------------------------------------------------------------------
Gerald E. Mayo
Hilton Head, S. Carolina (15)
- --------------------------------------------------------------------------------
Don McClure
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Dennis W. McFarland
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
James A. McGehee, Jr.
Richmond, Virginia (17)
- --------------------------------------------------------------------------------
Terrance L. McGill D
Houston, Texas (13) SVP P
- --------------------------------------------------------------------------------
Steve R. Melton VP
Houston, Texas (13) GC,S
- --------------------------------------------------------------------------------
Jeffrey A. Meyers
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Ellen L. Milnes
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
</TABLE>
38
<PAGE> 40
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CKY COH CMD CPA CGV CS CLG CLNG CER CNR HH AD CU
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Terrence J. Murphy
Pittsburgh, Pennsylvania (26) SVP SVP
- ---------------------------------------------------------------------------------------------------------------------------
Richard A. Newbold
Columbus, Ohio (2) VP
- ---------------------------------------------------------------------------------------------------------------------------
Sheldon M. Nordin
Richmond, Virginia (17)
- ---------------------------------------------------------------------------------------------------------------------------
Gary B. Nunnally
Houston, Texas (29)
- ---------------------------------------------------------------------------------------------------------------------------
Michael W. O'Donnell SVP
Herndon, Virginia (1) CFO,D D D D D
- ---------------------------------------------------------------------------------------------------------------------------
Kathleen O' Leary
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Douglas E. Olesen
Columbus, Ohio (27) D
- ---------------------------------------------------------------------------------------------------------------------------
James J. Ostertag
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Nicholas A. Parillo
Herndon, Virginia (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
John W. Partridge, Jr.
Columbus, Ohio (2) SVP
- ---------------------------------------------------------------------------------------------------------------------------
David Pentzien
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Thomas E. Perkins, Jr.
Richmond, Virginia (17)
- ---------------------------------------------------------------------------------------------------------------------------
Cheryl A. Peters
Columbus, Ohio (2) VP
- ---------------------------------------------------------------------------------------------------------------------------
Dennis A. Pick
Herndon, Virginia (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
Thomas J. W. Pickard
Columbus, Ohio (2) VP
- ---------------------------------------------------------------------------------------------------------------------------
R. Neal Pierce, Jr. VP VP D D
Charleston, West Virginia (18) S GC,S S VP,S S
- ---------------------------------------------------------------------------------------------------------------------------
Olga A. Polemitou VP
Herndon, Virginia (1) GA
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
39
<PAGE> 41
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CG CPC AEI CES CEM CPM CSP ECC CAA CCC CTC TGT CNS
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Terrence J. Murphy
Pittsburgh, Pennsylvania (26)
- ---------------------------------------------------------------------------------------------------------------------------
Richard A. Newbold
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
Sheldon M. Nordin
Richmond, Virginia (17) T T
- ---------------------------------------------------------------------------------------------------------------------------
Gary B. Nunnally
Houston, Texas (29) D
- ---------------------------------------------------------------------------------------------------------------------------
Michael W. O'Donnell SVP
Herndon, Virginia (1) CFO D D D D
- ---------------------------------------------------------------------------------------------------------------------------
Kathleen O' Leary
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Douglas E. Olesen
Columbus, Ohio (27) D
- ---------------------------------------------------------------------------------------------------------------------------
James J. Ostertag
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Nicholas A. Parillo
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
John W. Partridge, Jr.
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
David Pentzien
Fairfax, Virginia (23) P
- ---------------------------------------------------------------------------------------------------------------------------
Thomas E. Perkins, Jr.
Richmond, Virginia (17) VP D
- ---------------------------------------------------------------------------------------------------------------------------
Cheryl A. Peters
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
Dennis A. Pick
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Thomas J. W. Pickard
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
R. Neal Pierce, Jr.
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
Olga A. Polemitou
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
40
<PAGE> 42
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CMC EN CIC CPL CDW CAT CEC CGP CLP CBG CBL CVG CVL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Terrence J. Murphy
Pittsburgh, Pennsylvania (26)
- ---------------------------------------------------------------------------------------------------------------------------
Richard A. Newbold
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
Sheldon M. Nordin
Richmond, Virginia (17)
- ---------------------------------------------------------------------------------------------------------------------------
Gary B. Nunnally
Houston, Texas (29)
- ---------------------------------------------------------------------------------------------------------------------------
Michael W. O'Donnell
Herndon, Virginia (1) D D D
- ---------------------------------------------------------------------------------------------------------------------------
Kathleen O' Leary
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Douglas E. Olesen
Columbus, Ohio (27)
- ---------------------------------------------------------------------------------------------------------------------------
James J. Ostertag D
Herndon, Virginia (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
Nicholas A. Parillo D
Herndon, Virginia (1) P
- ---------------------------------------------------------------------------------------------------------------------------
John W. Partridge, Jr.
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
David Pentzien
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Thomas E. Perkins, Jr.
Richmond, Virginia (17)
- ---------------------------------------------------------------------------------------------------------------------------
Cheryl A. Peters
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
Dennis A. Pick
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Thomas J. W. Pickard
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------------
R. Neal Pierce, Jr.
Charleston, West Virginia (18)
- ---------------------------------------------------------------------------------------------------------------------------
Olga A. Polemitou
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
41
<PAGE> 43
ITEM 6. Continued
<TABLE>
<CAPTION>
================================================================================
CRL CEH CGG CGR CEL TCO CGT
- --------------------------------------------------------------------------------
<S> <C> <C>
Terrence J. Murphy
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------
Richard A. Newbold
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
Sheldon M. Nordin
Richmond, Virginia (17)
- --------------------------------------------------------------------------------
Gary B. Nunnally
Houston, Texas (29)
- --------------------------------------------------------------------------------
Michael W. O'Donnell
Herndon, Virginia (1) D D
- --------------------------------------------------------------------------------
Kathleen O' Leary
Fairfax, Virginia (23) VP VP
- --------------------------------------------------------------------------------
Douglas E. Olesen
Columbus, Ohio (27)
- --------------------------------------------------------------------------------
James J. Ostertag
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Nicholas A. Parillo
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
John W. Partridge, Jr.
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
David Pentzien
Fairfax, Virginia (23) VP
- --------------------------------------------------------------------------------
Thomas E. Perkins, Jr.
Richmond, Virginia (17)
- --------------------------------------------------------------------------------
Cheryl A. Peters
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
Dennis A. Pick
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Thomas J. W. Pickard
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
R. Neal Pierce, Jr.
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------
Olga A. Polemitou
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
</TABLE>
42
<PAGE> 44
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CKY COH CMD CPA CGV CS CLG CLNG CER CNR HH AD CU
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Melanie K. Popovich
Pittsburgh, Pennsylvania (26) VP VP
- ---------------------------------------------------------------------------------------------------------------------------
R. A. Rankin, Jr.
Herndon, Virginia (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
Sarah B. Raskin
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Oliver G. Richard III CB,P
Herndon, Virginia (1) CEO,D D D D
- ---------------------------------------------------------------------------------------------------------------------------
Gary J. Robinson P P
Pittsburgh, Pennsylvania (26) CEO,D CEO,D D
- ---------------------------------------------------------------------------------------------------------------------------
R. Robinson
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
John G. Scanlon
Herndon, Virginia (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
Stephen A. Schmotzer
Columbia, Ohio (2) VP
- ---------------------------------------------------------------------------------------------------------------------------
Glen E. Schuler
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Peter M. Schwolsky SVP
Herndon, Virginia (1) CLO,D D D D
- ---------------------------------------------------------------------------------------------------------------------------
Joseph T. Sinclair
Pittsburgh, Pennsylvania (26) VP VP
- ---------------------------------------------------------------------------------------------------------------------------
Eric Singleton
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Robert C. Skaggs, Jr. P P
Columbus, Ohio (2) CEO,D CEO,D D
- ---------------------------------------------------------------------------------------------------------------------------
Rose M. Smith
Columbus, Ohio (2) VP
- ---------------------------------------------------------------------------------------------------------------------------
Stephen P. Smith
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Lawrence D. Smore
Richmond, Virgina (25) VP
- ---------------------------------------------------------------------------------------------------------------------------
Andrew J. Sonderman GC GC S S
Columbus, Ohio (2) S, D S, D D D S
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
43
<PAGE> 45
ITEM 6. Continued
<TABLE>
<CAPTION>
==========================================================================================================================
CG CPC AEI CES CEM CPM CSP ECC CAA CCC CTC TGT CNS
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Melanie K. Popovich
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------------------------------------------------
R. A. Rankin, Jr.
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
Sarah B. Raskin GC GC GC GC GC GC
Herndon, Virginia (1) S,D S,D S,D S,D S,D S
- --------------------------------------------------------------------------------------------------------------------------
Oliver G. Richard III CB,P
Herndon, Virginia (1) CEO,D D
- --------------------------------------------------------------------------------------------------------------------------
Gary J. Robinson
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------------------------------------------------
R. Robinson
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------------------------------------------------
John G. Scanlon
Herndon, Virginia (1) D D
- --------------------------------------------------------------------------------------------------------------------------
Stephen A. Schmotzer
Columbia, Ohio (2)
- --------------------------------------------------------------------------------------------------------------------------
Glen E. Schuler
Fairfax, Virginia (23)
- --------------------------------------------------------------------------------------------------------------------------
Peter M. Schwolsky SVP
Herndon, Virginia (1) CLO D
- --------------------------------------------------------------------------------------------------------------------------
Joseph T. Sinclair
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------------------------------------------------
Eric Singleton VP
Herndon, Virginia (1) CEO
- --------------------------------------------------------------------------------------------------------------------------
Robert C. Skaggs, Jr.
Columbus, Ohio (2) D
- --------------------------------------------------------------------------------------------------------------------------
Rose M. Smith
Columbus, Ohio (2)
- --------------------------------------------------------------------------------------------------------------------------
Stephen P. Smith VP
Fairfax, Virginia (23) T
- --------------------------------------------------------------------------------------------------------------------------
Lawrence D. Smore
Richmond, Virgina (25)
- --------------------------------------------------------------------------------------------------------------------------
Andrew J. Sonderman
Columbus, Ohio (2)
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
44
<PAGE> 46
ITEM 6. Continued
<TABLE>
<CAPTION>
============================================================================================================================
CMC EN CIC CPL CDW CAT CEC CGP CLP CBG CBL CVG CVL
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Melanie K. Popovich
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------
R. A. Rankin, Jr.
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
Sarah B. Raskin
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
Oliver G. Richard III
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
Gary J. Robinson
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------
R. Robinson
Charleston, West Virginia (35)
- ----------------------------------------------------------------------------------------------------------------------------
John G. Scanlon
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
Stephen A. Schmotzer
Columbia, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------
Glen E. Schuler
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------
Peter M. Schwolsky
Herndon, Virginia (1) D
- ----------------------------------------------------------------------------------------------------------------------------
Joseph T. Sinclair
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------
Eric Singleton
Herndon, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------
Robert C. Skaggs, Jr.
Columbus, Ohio (2) D
- ----------------------------------------------------------------------------------------------------------------------------
Rose M. Smith
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------
Stephen P. Smith
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------
Lawrence D. Smore
Richmond, Virgina (25)
- ----------------------------------------------------------------------------------------------------------------------------
Andrew J. Sonderman
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
45
<PAGE> 47
ITEM 6. Continued
<TABLE>
<CAPTION>
================================================================================
CRL CEH CGG CGR CEL TCO CGT
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
Melanie K. Popovich
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------
R. A. Rankin, Jr.
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Sarah B. Raskin
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Oliver G. Richard III
Herndon, Virginia (1) D D
- --------------------------------------------------------------------------------
Gary J. Robinson
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------
R. Robinson
Charleston, West Virginia (35) VP
- --------------------------------------------------------------------------------
John G. Scanlon
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Stephen A. Schmotzer
Columbia, Ohio (2)
- --------------------------------------------------------------------------------
Glen E. Schuler
Fairfax, Virginia (23) VP
- --------------------------------------------------------------------------------
Peter M. Schwolsky
Herndon, Virginia (1) D D D
- --------------------------------------------------------------------------------
Joseph T. Sinclair
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------
Eric Singleton
Herndon, Virginia (1)
- --------------------------------------------------------------------------------
Robert C. Skaggs, Jr.
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
Rose M. Smith
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
Stephen P. Smith D,SVP D,SVP
Fairfax, Virginia (23) CFO CFO
- --------------------------------------------------------------------------------
Lawrence D. Smore
Richmond, Virgina (25)
- --------------------------------------------------------------------------------
Andrew J. Sonderman
Columbus, Ohio (2)
- --------------------------------------------------------------------------------
</TABLE>
46
<PAGE> 48
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CKY COH CMD CPA CGV CS CLG CLNG CER CNR HH AD CU
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Robert D. Stuart
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Bill Thomas
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
Jerry A. Tischer
Toledo, Ohio (8) VP
- ---------------------------------------------------------------------------------------------------------------------------
James W. Trost
Herndon, Virginia (1) VP VP VP VP VP VP VP VP VP VP VP VP
- ---------------------------------------------------------------------------------------------------------------------------
Anthony Trubisz, Jr. P
Richmond, Virgina (25) CEO,D D
- ---------------------------------------------------------------------------------------------------------------------------
Genevieve A. Tuchow
Columbus, Ohio (2) VP
- ---------------------------------------------------------------------------------------------------------------------------
Tom Ulry
Westerville, Ohio (34)
- ---------------------------------------------------------------------------------------------------------------------------
Roger Vari VP VP
Pittsburgh, Pennsylvania (26) T T
- ---------------------------------------------------------------------------------------------------------------------------
Bernard T. Walsh
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
Stephen M. Warnick
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
Willard Watson, Jr. D
Charleston, West Virginia (18) VP VP VP
- ---------------------------------------------------------------------------------------------------------------------------
Robert W. Welch, Jr.
Herndon, Virginia (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
Robert B. Wemyss, Jr.
Richmond, Virginia (25) VP
- ---------------------------------------------------------------------------------------------------------------------------
William H. White
Charleston, West Virginia (35)
- ---------------------------------------------------------------------------------------------------------------------------
R. H. Whitescarver
Richmond, Virginia (17)
- ---------------------------------------------------------------------------------------------------------------------------
Larry L. Willeke
Washington, D.C. (31)
- ---------------------------------------------------------------------------------------------------------------------------
Stephen M. Wilner
Fairfax, Virginia (23)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
47
<PAGE> 49
ITEM 6. Continued
<TABLE>
<CAPTION>
=========================================================================================================================
CG CPC AEI CES CEM CPM CSP ECC CAA CCC CTC TGT CNS
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Robert D. Stuart
Fairfax, Virginia (23)
- -------------------------------------------------------------------------------------------------------------------------
Bill Thomas
Herndon, Virginia (1) D
- -------------------------------------------------------------------------------------------------------------------------
Jerry A. Tischer
Toledo, Ohio (8)
- -------------------------------------------------------------------------------------------------------------------------
James W. Trost
Herndon, Virginia (1) VP VP VP VP VP VP VP VP VP VP VP
- -------------------------------------------------------------------------------------------------------------------------
Anthony Trubisz, Jr.
Richmond, Virgina (25)
- -------------------------------------------------------------------------------------------------------------------------
Genevieve A. Tuchow
Columbus, Ohio (2)
- -------------------------------------------------------------------------------------------------------------------------
Tom Ulry P
Westerville, Ohio (34) D
- -------------------------------------------------------------------------------------------------------------------------
Roger Vari
Pittsburgh, Pennsylvania (26)
- -------------------------------------------------------------------------------------------------------------------------
Bernard T. Walsh
Charleston, West Virginia (35)
- -------------------------------------------------------------------------------------------------------------------------
Stephen M. Warnick
Fairfax, Virginia (23)
- -------------------------------------------------------------------------------------------------------------------------
Willard Watson, Jr.
Charleston, West Virginia (18)
- -------------------------------------------------------------------------------------------------------------------------
Robert W. Welch, Jr.
Herndon, Virginia (1)
- -------------------------------------------------------------------------------------------------------------------------
Robert B. Wemyss, Jr.
Richmond, Virginia (25)
- -------------------------------------------------------------------------------------------------------------------------
William H. White
Charleston, West Virginia (35)
- -------------------------------------------------------------------------------------------------------------------------
R. H. Whitescarver
Richmond, Virginia (17) VP
- -------------------------------------------------------------------------------------------------------------------------
Larry L. Willeke
Washington, D.C. (31)
- -------------------------------------------------------------------------------------------------------------------------
Stephen M. Wilner
Fairfax, Virginia (23)
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
48
<PAGE> 50
ITEM 6. Continued
<TABLE>
<CAPTION>
==========================================================================================================================
CMC EN CIC CPL CDW CAT CEC CGP CLP CBG CBL CVG CVL
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Robert D. Stuart
Fairfax, Virginia (23)
- --------------------------------------------------------------------------------------------------------------------------
Bill Thomas
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
Jerry A. Tischer
Toledo, Ohio (8)
- --------------------------------------------------------------------------------------------------------------------------
James W. Trost
Herndon, Virginia (1) VP VP VP VP VP VP VP VP VP VP VP VP
- --------------------------------------------------------------------------------------------------------------------------
Anthony Trubisz, Jr.
Richmond, Virgina (25)
- --------------------------------------------------------------------------------------------------------------------------
Genevieve A. Tuchow
Columbus, Ohio (2)
- --------------------------------------------------------------------------------------------------------------------------
Tom Ulry
Westerville, Ohio (34)
- --------------------------------------------------------------------------------------------------------------------------
Roger Vari
Pittsburgh, Pennsylvania (26)
- --------------------------------------------------------------------------------------------------------------------------
Bernard T. Walsh
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------------------------------------------------
Stephen M. Warnick
Fairfax, Virginia (23)
- --------------------------------------------------------------------------------------------------------------------------
Willard Watson, Jr.
Charleston, West Virginia (18)
- --------------------------------------------------------------------------------------------------------------------------
Robert W. Welch, Jr.
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
Robert B. Wemyss, Jr.
Richmond, Virginia (25)
- --------------------------------------------------------------------------------------------------------------------------
William H. White
Charleston, West Virginia (35)
- --------------------------------------------------------------------------------------------------------------------------
R. H. Whitescarver
Richmond, Virginia (17)
- --------------------------------------------------------------------------------------------------------------------------
Larry L. Willeke
Washington, D.C. (31)
- --------------------------------------------------------------------------------------------------------------------------
Stephen M. Wilner
Fairfax, Virginia (23)
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
49
<PAGE> 51
ITEM 6. Continued
<TABLE>
<CAPTION>
===============================================================================
CRL CEH CGG CGR CEL TCO CGT
- -------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Robert D. Stuart
Fairfax, Virginia (23) VP VP
- -------------------------------------------------------------------------------
Bill Thomas
Herndon, Virginia (1)
- -------------------------------------------------------------------------------
Jerry A. Tischer
Toledo, Ohio (8)
- -------------------------------------------------------------------------------
James W. Trost
Herndon, Virginia (1) VP VP VP VP VP VP VP
- -------------------------------------------------------------------------------
Anthony Trubisz, Jr.
Richmond, Virgina (25)
- -------------------------------------------------------------------------------
Genevieve A. Tuchow
Columbus, Ohio (2)
- -------------------------------------------------------------------------------
Tom Ulry
Westerville, Ohio (34)
- -------------------------------------------------------------------------------
Roger Vari
Pittsburgh, Pennsylvania (26)
- -------------------------------------------------------------------------------
Bernard T. Walsh
Charleston, West Virginia (35) VP
- -------------------------------------------------------------------------------
Stephen M. Warnick
Fairfax, Virginia (23) VP VP
- -------------------------------------------------------------------------------
Willard Watson, Jr.
Charleston, West Virginia (18)
- -------------------------------------------------------------------------------
Robert W. Welch, Jr.
Herndon, Virginia (1)
- -------------------------------------------------------------------------------
Robert B. Wemyss, Jr.
Richmond, Virginia (25)
- -------------------------------------------------------------------------------
William H. White
Charleston, West Virginia (35) VP
- -------------------------------------------------------------------------------
R. H. Whitescarver
Richmond, Virginia (17)
- -------------------------------------------------------------------------------
Larry L. Willeke
Washington, D.C. (31) VP VP
- -------------------------------------------------------------------------------
Stephen M. Wilner
Fairfax, Virginia (23) VP VP
- -------------------------------------------------------------------------------
</TABLE>
50
<PAGE> 52
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CKY COH CMD CPA CGV CS CLG CLNG CER CNR HH AD CU
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C>
William R. Wilson
Exton, Pennsylvania (30) D
- ---------------------------------------------------------------------------------------------------------------------------
Robert M. Zulandi
Herndon, Virginia (1)
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
51
<PAGE> 53
ITEM 6. Continued
<TABLE>
<CAPTION>
==========================================================================================================================
CG CPC AEI CES CEM CPM CSP ECC CAA CCC CTC TGT CNS
- --------------------------------------------------------------------------------------------------------------------------
<S> <C>
William R. Wilson
Exton, Pennsylvania (30) D
- --------------------------------------------------------------------------------------------------------------------------
Robert M. Zulandi
Herndon, Virginia (1)
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
52
<PAGE> 54
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CMC EN CIC CPL CDW CAT CEC CGP CLP CBG CBL CVG CVL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
William R. Wilson
Exton, Pennsylvania (30)
- ---------------------------------------------------------------------------------------------------------------------------
Robert M. Zulandi SVP SVP SVP SVP SVP SVP SVP
Herndon, Virginia (1) D D D D D D D
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
53
<PAGE> 55
ITEM 6. Continued
<TABLE>
<CAPTION>
================================================================================
CRL CEH CGG CGR CEL TCO CGT
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
William R. Wilson
Exton, Pennsylvania (30)
- --------------------------------------------------------------------------------
Robert M. Zulandi SVP SVP SVP SVP SVP
Herndon, Virginia (1) D D D D D
- --------------------------------------------------------------------------------
</TABLE>
54
<PAGE> 56
Part II. Financial connections as of December 31, 1998*
<TABLE>
<CAPTION>
Position
Held In Applicable
Name of Officer Name and Location of Financial Exemption
or Director Financial Institution Institution Rule
(1) (2) (3) (4)
----------------- --------------------------- ------------ ----------------
<S> <C> <C> <C>
William E. Lavery First Union of VA/MD/DC Director 70(a) & 70(c)
Richmond, Virginia
</TABLE>
* Since such information rests peculiarly within the knowledge of the
respective officers and directors, the Registrant disclaims
responsibility for the accuracy and completeness of such information.
PART III(a). COMPENSATION OF OFFICERS AND DIRECTORS
1998 EXECUTIVE COMPENSATION PLAN
COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS
EXECUTIVE COMPENSATION REPORT TO THE STOCKHOLDERS
GENERAL - Through the Compensation Committee (the "Committee") of the
Corporation's Board of Directors, the Board of Directors has developed an
aggressive "PAY FOR PERFORMANCE" executive compensation philosophy and
programs to implement that philosophy. Effective since 1996, these
programs combine to form the basis of the total compensation plan for
senior management of the Corporation and its subsidiaries (the "Group"),
which is designed to focus management's attention on the Corporation's
strategic business initiatives and financial performance objectives. The
Committee believes that the design and execution of the executive
compensation program implemented in 1996 continue to be critical to the
Corporation's future success by FOCUSING MANAGEMENT'S ATTENTION on the
competitive business environment through compensation awards largely based
on COLUMBIA VALUE ADDED ("CVA") FINANCIAL PERFORMANCE MEASURES and
SHAREHOLDER RETURN. CVA performance measures determine the real value of a
particular investment by the extent the return on that investment exceeds
the cost of the investment, including the cost of capital.
COMPENSATION PHILOSOPHY - The Board of Directors believes that total
compensation is not only payment for services rendered to the Group, but
also a means to provide a strong motivational vehicle for the achievement
of key financial and strategic goals. The Group provides executives with
the opportunity to increase their total compensation above base salary
through annual and longer-term incentive compensation programs. Goals and
objectives within the executive compensation program are established such
that their achievement will result in added value to the Group over
appropriate periods of time. This is how compensation is linked to
corporate performance. To implement the pay for performance philosophy
that the Group instituted in 1996, its executive compensation program is
designed to:
- PLACE AT RISK significant amounts of the executives' total
compensation.
- Base greater amounts of the executives' total compensation upon
CREATING LONG-TERM VALUE FOR THE STOCKHOLDERS.
- TIE COMPENSATION MORE CLOSELY TO THE FORTUNES OF THE
STOCKHOLDERS through the use of a combination of cash and
STOCK-BASED INCENTIVE COMPENSATION PLANS.
- Emphasize the achievement of both short- and longer-term
internal VALUE ADDED PERFORMANCE MEASURES as well as
STOCKHOLDER RETURN EXPECTATIONS in relationship to peer
companies.
- Provide total compensation rewards to executives in relation to
the overall financial performance of the Corporation.
55
<PAGE> 57
As a general matter, the executive compensation program is designed to provide
base salary compensation levels that target the median of the marketplace in
similar-sized energy and industrial companies; maintain equitable relationships
among the compensation levels established for jobs within the Group; provide
for the recognition of performance delivered year-to-year and over the long
term; and ensure that appropriate controls are in place for compensation to be
fully earned. Because of the Group's size and integrated nature, a number of
well-known energy and general industry executive compensation surveys are
utilized to determine competitive remuneration for executives. Most of the
companies in the S&P Natural Gas Utility Index, which comprises the peer group
are included in one or more of these surveys. However, no single authoritative
executive compensation survey currently covers all of the companies in the S&P
Natural Gas Utility Index. The Committee uses independent compensation
consulting firms to assist it in determining the competitiveness of the Group's
compensation plans and programs. In 1998, two such firms, Hewitt Associates,
LLC and Towers Perrin, were principally used.
IMPLEMENTATION OF PHILOSOPHY - The Group's executive compensation program is
administered by the Committee. The Committee is composed of six independent,
nonemployee Directors. As of December 31, 1998, the Group's executive total
compensation program consisted of the following:
1. Base Salary Program
2. Annual Incentive Compensation Plan
3. Long-Term Incentive Plan
4. Other Arrangements
1. BASE SALARY PROGRAM - A base salary is established for each executive
position based on a comparison of compensation levels of similar positions in
the external market. Competitive base salary levels are needed to attract and
retain competent executives. Based on the energy and general industry
compensation surveys referred to above, the base salary levels for the
approximately 185 individuals comprising the executive and key employee group
presently approximate the median for similar groups with corporations of
similar size and complexity. At the minimum opportunity levels for earning
Annual Incentive Compensation Plan and Long-Term Incentive Plan awards, the
executive compensation program is designed to deliver 40 to 54 percent of total
compensation in the form of base pay, dependent upon the executive's level in
the executive compensation program. At the maximum opportunity levels, base
pay represents 28 to 43 percent of an executive's compensation. In keeping
with the philosophy of placing more compensation at risk and of targeting base
salary at market levels, increases to base salary generally are made only in
cases of promotions or marketplace equity adjustments, if individual
performance warrants. The Corporation is currently working with an outside
consultant to examine the compensation levels of all positions in the executive
compensation program.
2. ANNUAL INCENTIVE COMPENSATION PLAN - This plan, which was amended,
restated and re-implemented effective January 1, 1996, provides the opportunity
for payment of cash awards to key employees for attainment of specific goals
which contribute directly to the present and future financial health of the
Group. Awards for 1998 performance, granted in 1999 after financial results
for 1998 were final, are reflected in the Summary Compensation Table and in the
Executive Compensation Report subsection entitled "1998 Chief Executive
Officer's Pay." The award opportunities for 1998 ranged from zero to 75
percent of an individual's annual base salary at target level performance,
which depends upon the achievement of CVA financial goals and the individual's
level of responsibility within the organization, along with an assessment of
the individual's ability to contribute directly to the financial performance of
the Group. Additional amounts can be awarded should financial performance
exceed the target level and, in certain circumstances, should the individual
exceed his or her personal performance goals.
On February 17, 1999, in accordance with the Corporation's "pay for
performance" philosophy, the Committee awarded cash awards in recognition of
the Corporation's exceeding threshold CVA goals, financial performance compared
to peer companies and for meeting specific business unit targets and based on
1998 individual employee performance. Awards were granted at various levels.
The average award represented 24% of the average base salary of all executives
receiving Annual Incentive Compensation Plan awards, excluding Mr. Richard, the
Chairman, President and Chief Executive Officer ("CEO") of the Corporation.
56
<PAGE> 58
3. LONG-TERM INCENTIVE PLAN - The executive compensation program also
includes a component to bring special attention to the important area of
stockholder return. The Long-Term Incentive Plan provides long-term incentives
to officers and other key employees of Group companies through the granting of
incentive stock options, nonqualified stock options, stock appreciation rights,
contingent stock awards, restricted stock awards, and/or any award in other
forms that the Committee may deem appropriate, consistent with the plan's
purpose. For most option awards, the Corporation's Total Shareholder Return
performance (stock price appreciation plus dividend accruals) has been compared
to the peer group of companies included in the S&P Natural Gas Utility Index as
included elsewhere in this report. For most option awards for 1998, the
Committee provided awards as a result of the Corporation's Total Shareholder
Return exceeding the median Total Shareholder Return of the companies which
comprise this peer group (excluding the Corporation). Dependent upon each
employee's position, individual performance, and the Corporation's Total
Shareholder Return, options for 3,000 to 40,000 shares may be awarded for
performance at the third quartile (target, or above median), while options for
6,000 to 60,000 shares may be awarded for performance at the fourth quartile
(stretch, or top quartile). Additional amounts can be awarded should an
individual exceed his or her personal performance goals or if circumstances
otherwise warrant. Option awards to key employees may be made for reasons
other than Total Shareholder Return, subject to the discretion of the
Committee. The purchase price per share of stock deliverable upon the exercise
of a non-qualified stock option is 100 percent of the fair market value of the
stock on the date of grant. The price of options issued under the plan is
credited with dividend equivalents. Such credits may be made directly through
a reduction in the purchase price of stock subject to options. Alternatively,
at the discretion of the Committee, dividend equivalent credits may be provided
indirectly, for example through the establishment of an unsecured, unfunded
bookkeeping "account" that would track dividends declared on the stock subject
to options and that would be paid in cash to an optionee upon the exercise of
an option or, in certain circumstances, upon expiration of the option. The
amount of dividend equivalent credits may not exceed the option purchase price
less par value. The Long-Term Incentive Plan was approved by the stockholders
of the Corporation on April 26, 1996, and the plan became effective as of
February 21, 1996. Subject to shareholder approval, the plan was amended and
restated on November 18, 1998 and further amended on February 17, 1999. Awards
made in 1999 for 1998 performance are reflected in the Options Table elsewhere
in this report as well as the subsection of this report entitled "1998 Chief
Executive Officer's Pay."
On February 22, 1999, the Committee awarded options for 1,444,700 shares
(excluding Mr. Richard) of the Corporation's stock in the form of nonqualified
stock options for 1998 Total Shareholder Return performance at the stretch
level, with individual performance bearing on the number delivered to
employees. Key employees who were granted non-qualified stock options received
an average for 6,597 shares.
4. OTHER ARRANGEMENTS - Mr. Richard, Mr. Schwolsky, Senior Vice President
and Chief Legal Officer of the Corporation, Ms. Abbott, Chief Executive
Officer and President of Columbia Gas Transmission Corporation and Chief
Executive Officer of Columbia Gulf Transmission Company, and Mr. Kaskel, Senior
Vice President of the Columbia Energy Group Service Corporation, were granted
employment agreements upon hire. For a more detailed description of the
agreements, please see "Employment Agreements" elsewhere in this report.
DEDUCTIBILITY OF COMPENSATION - The Committee has reviewed the potential impact
on the Group of Section 162(m) of the IRC, which imposes a limit on tax
deductions that the Group may claim for annual compensation in excess of one
million dollars paid to any of the CEO and the four other most highly
compensated executive officers. The Committee has determined that under
current compensation arrangements, the impact of Section 162(m) on the Group
would be limited and, therefore, has decided not to take any action at this
time to meet the requirements for a deduction.
EVALUATION PROCESS - Each year, the Board of Directors of the Corporation
reviews and approves strategic business and financial plans for the Corporation
and each of its subsidiaries. In addition to various business strategies,
these plans include specific financial goals such as CVA or other measures to
evaluate whether stockholder value has increased. The goals set forth in these
strategic plans are the bases for evaluating the performance of the CEO of the
Corporation and other senior executives whose compensation falls under the
direct purview of the Committee. Attainment of meaningful strategic goals over
reasonable time periods increases value to stockholders, and the increased
compensation opportunities for executives are directly linked to the attainment
of these goals.
57
<PAGE> 59
1998 CHIEF EXECUTIVE OFFICER'S PAY
BASE SALARY - When Mr. Richard was hired as CEO in 1995, the Corporation
entered into an employment agreement with Mr. Richard that provides a base
salary of $750,000 per year, subject to such increases as may be approved by
the Board. As noted above, in keeping with the philosophy of placing more
compensation at risk and of targeting base salary at market levels, increases
to base salary for the executive group generally are made only in cases of
promotions or marketplace equity adjustments. For those reasons, the Board
approved no increases to Mr. Richard's base salary in 1998 or 1997.
ANNUAL INCENTIVE COMPENSATION - On February 17, 1999, in accordance with the
Corporation's "pay for performance" compensation philosophy, the Committee
approved a cash award for Mr. Richard of $295,300 under the Annual Incentive
Compensation Plan in recognition of personal accomplishments and achievement of
1998 threshold financial performance.
LONG-TERM INCENTIVE PLAN - On May 20, 1996, Mr. Richard received a grant of
29,785 shares (44,677 post-stock split shares) of restricted stock under his
amended employment agreement. To provide an additional incentive to Mr.
Richard to continue his employment with the Corporation, the amended employment
agreement provides that only 20 percent of such restricted stock vests each
year, with the second 20 percent having vested on January 4, 1998. On February
22, 1999, based on 1998 Total Shareholder Return performance at the fourth
(top) quartile and individual performance, the Committee awarded Mr. Richard,
under the Long-Term Incentive Plan, a grant of nonqualified stock options to
purchase 60,000 shares of common stock at a price of $49.59375 per share, with
one-third vesting on the first anniversary of grant, one-third on the second
anniversary of grant, and one-third on the third anniversary of grant. The
awards are included in the Options Table.
<TABLE>
<CAPTION>
BY THE COMPENSATION COMMITTEE:
<S> <C>
Gerald E. Mayo, Chairman James P. Heffernan
Robert H. Beeby Malcolm T. Hopkins
Wilson K. Cadman Malcolm Jozoff
</TABLE>
EMPLOYMENT AGREEMENTS
As discussed in the Executive Compensation Report of the Compensation Committee
elsewhere in this report, in order to secure his services, the Corporation
entered into an employment agreement in 1995 (amended in 1996) with Mr. Richard
for the position of Chairman, President and Chief Executive Officer of the
Corporation. In addition to salary, bonus, awards of options, contingent stock
and restricted stock and other matters, Mr. Richard's amended employment
agreement provides for severance benefits to be paid to Mr. Richard in the
event his employment is terminated without cause. The severance benefits would
include payment of Mr. Richard's annual base salary, incentive compensation
and fringe benefits for a period of 24 months. If Mr. Richard's employment is
terminated due to a change in control of the Corporation (as defined in the
agreement), the period of severance benefits is extended from 24 to 36 months,
but the amount that may be paid to Mr. Richard, which would constitute
"parachute payments" under the IRC, will be limited to the extent necessary to
avoid the imposition of an excise tax under the IRC. Upon retirement Mr.
Richard may receive supplemental pension payments to make up the difference, if
any, between the Group's pension benefits and those Mr. Richard would have
received from his previous employer. The Corporation also entered into an
employment agreement with Mr. Schwolsky in 1995 to secure his services as
Senior Vice President and Chief Legal Officer of the Corporation. In addition
to stock-based grants that were made in 1995, the employment agreement with Mr.
Schwolsky provides a base salary of $285,000 per year, subject to such
increases as may be approved by the Board. Besides being eligible to
participate in all incentive compensation plans and employee benefit programs
provided to other senior executives of the Group, upon retirement Mr. Schwolsky
may receive supplemental pension payments to make up the difference, if any,
between the Group's pension benefits and those Mr. Schwolsky would have
received from his previous employer. The employment agreement further provides
for severance benefits to be paid to Mr. Schwolsky in the event his employment
is terminated without cause. The severance benefits would include payment of
Mr. Schwolsky's annual base salary, incentive compensation and fringe benefits
for a period of 24 months. If Mr. Schwolsky's employment is terminated due to
a change in control of the Corporation (as defined in the agreement), the
period of severance benefits is extended from 24 to 36 months, but the amount
that may be paid to Mr. Schwolsky, which would constitute "parachute payments"
under the IRC, will be limited to the extent necessary to avoid the imposition
of an excise tax under the IRC.
58
<PAGE> 60
The Corporation entered into an employment agreement in 1996 with Ms. Abbott to
secure her services as Chief Executive Officer of its transmission
subsidiaries. In addition to a grant of stock made in 1996, the employment
agreement with Ms. Abbott provides for a base salary of $325,000 per year,
subject to such increases as may be approved by the Board. The agreement also
provides that Ms. Abbott is eligible to participate in all employee benefit
programs provided to other transmission company executives and in all incentive
compensation programs of the transmission companies appropriate for her status.
The employment agreement further provides for severance benefits to be paid to
Ms. Abbott in the event her employment is terminated without cause. The
severance benefits would include payment of Ms. Abbott's annual base salary,
incentive compensation and fringe benefits for a period of 24 months. If Ms.
Abbott's employment is terminated due to a change in control of the Corporation
(as defined in the agreement), the period of severance benefits is extended
from 24 to 36 months, but the amount that may be paid to Ms. Abbott, which
would constitute "parachute payments" under the IRC, will be limited to the
extent necessary to avoid the imposition of an excise tax under the IRC.
On March 31, 1997, the Corporation entered into an employment agreement with
Mr. Kaskel to secure his services as Senior Vice President of the Columbia
Energy Group Service Corporation. The agreement provided for a base salary of
$280,000 per year and a signing bonus of $75,000 payable at the end of the
first year of employment. The agreement also provided that Mr. Kaskel was
eligible to participate in benefits programs and all incentive compensation
programs provided to other company executives. In addition, Mr. Kaskel was
participating in a performance share award compensation feature under the
Long-Term Incentive Plan. This offered the opportunity for Mr. Kaskel to earn
an award of up to 20,000 shares of the Corporation's common stock, depending on
the level of achievement at the end of a five-year performance period. The
predetermined performance measures to be used were Total Operating Income and
Total Return On Invested Capital for all subsidiaries for which he had profit
and loss responsibility. No award was to be paid for performance falling below
the threshold level during the five-year performance period. An early payout
of the entire 20,000 shares could occur if, as measured at the end of any
fiscal year prior to the end of the five-year period, the stretch performance
levels were achieved for both measures. The agreement also provided that
should Mr. Kaskel's employment be terminated for any reason prior to the end of
the five-year performance period, an assessment would be made of his actual
achievements to date of termination in relationship to the financial measures
governing the performance share feature, and he may have received a pro-rata
award. Mr. Kaskel resigned from his employment effective August 31, 1998, and
no shares of common stock were granted under the performance share feature.
59
<PAGE> 61
<TABLE>
<CAPTION>
================================================================================================================================
OPTION/SAR GRANTS IN LAST FISCAL YEAR**
================================================================================================================================
Individual Grants Potential Realizable Value
at Assumed Annual Rates of
Stock Price Appreciation for
Option Term
================================================================================================================================
(a) (b) (c) (d) (e) (f) (g)
================================================================================================================================
Name Number of % of Total Options/SARs Exercise or Expiration 5% ($) 10% ($)
Securities Granted to Employees in Base Price Date
Underlying Fiscal Year ($/Sh)
Options/SARs
Granted #
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
O. G. Richard III
Chairman, 60,000 4.0 49.59375 2/22/09 1,925,175* 5,079,375*
President & CEO
- --------------------------------------------------------------------------------------------------------------------------------
M. W. O'Donnell
Senior Vice
President & Chief
Financial Officer 25,000 1.7 49.59375 2/22/09 802,156* 2,116,406*
- --------------------------------------------------------------------------------------------------------------------------------
P. M. Schwolsky
Senior Vice
President & Chief
Legal Officer 25,000 1.7 49.59375 2/22/09 802,156* 2,116,406*
- --------------------------------------------------------------------------------------------------------------------------------
C. G. Abbott
CEO of
Corporation's Gas
Transmission 25,000 1.7 49.59375 2/22/09 802,156* 2,116,406*
Segment
- --------------------------------------------------------------------------------------------------------------------------------
R. R. Kaskel
Senior Vice
President
Columbia Energy
Group Service
Corporation 0 0 N/A N/A N/A N/A
================================================================================================================================
</TABLE>
* Because dividend equivalents are associated with this award, the potential
realizable value shall increase as dividends are paid on stock subject to
options. In no event may dividend equivalents exceed the grant price less
the par value of the underlying stock.
** Granted as of February 22, 1999 for 1998 performance, the options vest
one-third upon the first anniversary of grant, one-third on the second
anniversary of grant, and the final third on the third anniversary of
grant.
60
<PAGE> 62
<TABLE>
<CAPTION>
==========================================================================================================================
AGGREGATED OPTION/SAR EXERCISES IN LAST FISCAL YEAR
AND YEAR-END OPTION/SAR VALUES
==========================================================================================================================
(a) (b) (c) (d) (e)
==========================================================================================================================
Number of Securities Value of Unexercised
Underlying Unexercised In-the-Money Options/SARs
Options/SARs at at Year-End ($)
Year-End
==========================================================================================================================
Number of Value Exercisable/ Exercisable/
Name Shares Realized Unexercisable Unexercisable*
Acquired ($) *
on Exercise
==========================================================================================================================
<S> <C> <C> <C> <C>
O. G. Richard III -0- $0 210,000/120,000 4,711,250/1,086,875
- --------------------------------------------------------------------------------------------------------------------------
M. W. O'Donnell -0- $0 42,160/35,000 934,808/348,177
- --------------------------------------------------------------------------------------------------------------------------
P. M. Schwolsky -0- $0 32,500/35,000 660,167/348,177
- --------------------------------------------------------------------------------------------------------------------------
C. G. Abbott -0- $0 25,000/35,000 382,292/348,177
- --------------------------------------------------------------------------------------------------------------------------
R. R. Kaskel -0- $0 0/0 -0-
- --------------------------------------------------------------------------------------------------------------------------
All Other Officers (Part I) 7,000 $94,036 18,000/38,000 275,250/36,914
- --------------------------------------------------------------------------------------------------------------------------
==========================================================================================================================
</TABLE>
* Market value of underlying securities at exercise or FY-end, minus the
exercise or base price.
61
<PAGE> 63
The compensation for services in all capacities payable to or earned by the
executive officers of the Corporation and its subsidiaries during the year 1998
was as follows:
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Long-Term Compensation
--------------------------------------------------
ANNUAL COMPENSATION
Awards Payouts
- -----------------------------------------------------------------------------------------------------------------------------------
(a) (b) (c) (d) (f) (g) (h) (i)
- -----------------------------------------------------------------------------------------------------------------------------------
Name and Securities
Principal Restricted Underlying LTIP All Other
Position Year Salary Bonus Stock Awards Options - Payouts Comp. (1)
SARs
- -----------------------------------------------------------------------------------------------------------------------------------
($) ($) ($) (#) ($) ($)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
O.G. RICHARD, III 1998 787,500 295,300 -0- 60,000(3) -0- 23,625
Chairman, President ------------------------------------------------------------------------------------------------------------
& CEO 1997 787,500 725,000 -0- 90,000(5) -0- 26,770(13)
------------------------------------------------------------------------------------------------------------
1996 778,125 710,000 1,459,465(9) 240,000(6) (7) -0- 746,596(8)(13)
- -----------------------------------------------------------------------------------------------------------------------------------
M. W. O'DONNELL
Senior Vice
President & Chief
Financial 1998 325,000 97,500 -0- 25,000(3) -0- 19,500
Officer ------------------------------------------------------------------------------------------------------------
1997 325,000 230,000 -0- 22,500(5) -0- 19,500
------------------------------------------------------------------------------------------------------------
1996 322,575 210,000 -0- 5,000(3) -0- 84,233(13)
- -----------------------------------------------------------------------------------------------------------------------------------
P. M. SCHWOLSKY 1998 325,000 97,500 -0- 25,000(3) -0- 9,750
Senior Vice ------------------------------------------------------------------------------------------------------------
President & Chief 1997 325,000 241,000 -0- 22,500(5) -0- 13,206
Legal Officer ------------------------------------------------------------------------------------------------------------
1996 321,250 234,000 -0- 37,500(6) -0- 130,804(13)
- -----------------------------------------------------------------------------------------------------------------------------------
C. G. ABBOTT 1998 325,000 253,500 -0- 25,000(3) -0- 9,750
CEO of ------------------------------------------------------------------------------------------------------------
Corporation's Gas
Transmission
Segment 1997 325,000 275,000 -0- 22,500(5) -0- 11,026
------------------------------------------------------------------------------------------------------------
1996 310,870(2) 234,000 73,219(11) 37,500(6) -0- 88,689(13)
- -----------------------------------------------------------------------------------------------------------------------------------
R. R. KASKEL 1998 186,667(2) 75,000(4) -0- - 0- -0- 2,800
Senior Vice ------------------------------------------------------------------------------------------------------------
President, Columbia 1997 210,000(2) 155,000 -0- 10,500(5) (10) -0- 84,233(15)
Energy Group
Service Corporation
- -----------------------------------------------------------------------------------------------------------------------------------
1996 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Adjusted for 3-for-2 stock split in the form of a dividend paid in June
1998 ("Stock Split").
62
<PAGE> 64
(1) Reflects employer contributions, if any, to the Employees' Thrift Plan
of Columbia Energy Group, which is qualified under the Internal Revenue
Code, and the Thrift Restoration Plan, a nonqualified plan. The
contributions to all officers, namely those listed in Part I, totaled
$637,922. The compensation to all officers as a group, namely those
listed in Part I, totaled $25,135.000.
(2) Partial year salary.
(3) Options to purchase shares granted to executive group on February 22,
1999, for 1998 performance at a price of $49.59375 per share, which
options vest one-third upon the first anniversary of grant, one-third
upon the second anniversary, and one-third upon the third anniversary.
(4) Pursuant to Mr. Kaskel's employment agreement dated March 31, 1997, a
signing bonus of $75,000 was paid following the completion of his first
year of employment.
(5) Options to purchase shares granted to executive group on February 17,
1998 for 1997 performance at a price of $50.77083 per share, which
options vest one-third upon the first anniversary of grant, one-third
upon the second anniversary, and one-third upon the third anniversary.
(6) Options to purchase shares granted to executive group on February 18,
1997 for 1996 performance at a price of $42.4583 per share, which
options vest one-third upon grant, exercisable in six months, one-third
upon the first anniversary of grant, and one-third upon the second
anniversary.
(7) Pursuant to Mr. Richard's employment agreement dated March 15, 1995, and
amended January 17, 1996, on May 20, 1996, Mr. Richard was granted a
nonqualified stock option for 150,000 shares of common stock, 75,000 of
which were vested on November 28, 1996, and the remaining 75,000 of
which were vested on November 28, 1997.
(8) Pursuant to Mr. Richard's amended employment agreement, on May 21, 1996,
Mr. Richard received a $481,250 cash payment, less taxes, representing
the excess of the grant price of the options for 100,000 shares of
common stock issued the previous date over the fair market value of the
shares on the date the options would have been issued had the
Corporation been able to issue the options following its discharge from
bankruptcy. The common stock increased in value during this period from
$43.875 to $48.6875 per share.
(9) Pursuant to Mr. Richard's amended employment agreement, on May 20, 1996,
Mr. Richard was granted a restricted stock award for 44,677 (29,785
pre-Stock Split) shares of common stock at a value of $1,459,465, as
based on the closing price of $49.00 per share on May 20, 1996. The
shares vest annually in five equal installments commencing January 2,
1997. Mr. Richard receives dividends on the restricted stock as
dividends are declared on shares of common stock. At December 31, 1998,
Mr. Richard held 26,806 shares of restricted stock, at an aggregate
value of $1,548,047.
(10) Mr. Kaskel's award was forfeited due to his resignation of employment.
(11) Pursuant to Ms. Abbott's employment agreement dated January 17, 1996, on
January 17, 1996, Ms. Abbott was granted a contingent stock award for
2,250 shares of common stock, which vested on May 17, 1996.
(12) Intentionally left blank.
(13) Includes transfer expenses associated with the move of the corporate
office from Delaware to Northern Virginia totalling $235,738 for Mr.
Richard, $66,090 for Mr. O'Donnell, $126,304 for Mr. Schwolsky, and
$87,014 for Ms. Abbott.
(14) Intentionally left blank.
(15) Reflects transfer expenses.
63
<PAGE> 65
RETIREMENT INCOME PLAN
A noncontributory defined benefit pension plan is maintained for all employees
of the Corporation's participating subsidiaries who are at least 21 years of
age. The annual benefit under the pension plan is based upon final average
annual compensation and years of credited service. Final average annual
compensation is calculated using base compensation (shown in the "Summary
Compensation Table" as "Salary") paid to the employee for the highest 36 months
of the last 60 months prior to retirement.
Estimated annual benefits payable upon retirement are as follows with respect
to the specified remuneration and years of credited service.
ESTIMATED ANNUAL BENEFITS AS OF JANUARY 1, 1999, FROM RETIREMENT INCOME PLAN
(1)
Representative Years of Credited Service (2)
<TABLE>
<CAPTION>
Final Average 15 20 25 30 35 40
Annual Compensation -- -- -- -- -- --
$ $ $ $ $ $
<S> <C> <C> <C> <C> <C> <C>
250,000 54,344 72,459 90,574 108,689 114,939 120,464
300,000 65,594 87,459 109,324 131,189 138,689 145,464
400,000 88,094 117,459 146,824 176,189 186,189 194,464
500,000 110,594 147,459 184,324 221,189 233,689 245,464
600,000 133,094 177,459 221,824 266,189 281,189 295,464
800,000 178,094 237,459 296,824 356,189 376,189 395,464
1,000,000 223,094 297,459 371,824 446,189 471,189 495,464
1,200,000 268,094 357,459 446,824 536,189 566,189 596,464
</TABLE>
(1) Estimates are based upon a straight-life annuity and the assumptions that
(a) the Corporation's present retirement plan will be maintained and (b)
retirement will not occur before age 65. These benefits are not subject to
deduction for social security or other charges. Should an annual benefit
exceed limitations imposed by federal law, the excess will be paid by the
participating subsidiary as a supplemental pension under the Pension
Restoration Plan. If the supplemental pension liability exceeds $100,000,
then this liability may be funded through a trust arrangement at the option
of the individual. The liabilities of Messrs. Richard, Schwolsky and
O'Donnell have reached $100,000, but to date they have not elected to fund
their accrued pension. The liabilities of Ms. Abbott and Mr. Kaskel had
not yet reached $100,000, so no contributions were made in 1998 on their
behalf. Such supplemental pensions are not available to these executives
until retirement or termination of employment.
(2) As of January 1, 1999, the credited years of service for retirement
benefits for the individuals named in the Summary Compensation Table were
as follows: Mr. Richard, 7 years; Mr. O'Donnell, 28 years; Mr. Schwolsky, 7
years; and Ms. Abbott, 2 years. Mr. Kaskel resigned his employment with
the Columbia Energy Group Service Corporation effective August 31, 1998, at
which time he was not eligible for retirement benefits.
64
<PAGE> 66
PERFORMANCE TABLE
The following tables demonstrates a five-year comparison of cumulative total
returns for the Corporation, the S&P 500, and the S&P Natural Gas Utility
Index.
FIVE-YEAR COMPARISON OF CUMULATIVE TOTAL RETURN(a)
<TABLE>
<CAPTION>
============================================================================================
1993 1994 1995 1996 1997 1998
$ $ $ $ $ $
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Columbia Energy
(formerly Columbia 100.00 105.03 196.09 287.63 360.04 402.73
Gas)
- ---------------------------------------------------------------------------------------------------------------------
S&P 500 Index
100.00 101.32 139.40 171.40 228.59 293.91
- ---------------------------------------------------------------------------------------------------------------------
S&P Natural Gas
Utility Index 100.00 95.40 134.93 179.31 211.56 232.15
=====================================================================================================================
</TABLE>
(a) Assumes $100 invested on December 31, 1993 and reinvestment of dividends.
65
<PAGE> 67
STANDARD DIRECTORS' COMPENSATION
<TABLE>
<CAPTION>
=====================================================================================================================
1998 Directors' Compensation for Board and Committee Meetings:
=====================================================================================================================
Retainer Meeting Fee Chairman's Fee
$ $ $
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Board 27,250 1,250 -
- ---------------------------------------------------------------------------------------------------------------------
Audit - 1,000 3,000
- ---------------------------------------------------------------------------------------------------------------------
Compensation - 1,000 3,000
- ---------------------------------------------------------------------------------------------------------------------
Executive 6,000 800 -
- ---------------------------------------------------------------------------------------------------------------------
Finance - 1,000 3,000
- ---------------------------------------------------------------------------------------------------------------------
Corporate Governance - 1,000 3,000
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
The nonemployee Directors are also eligible to receive nonqualified stock
options pursuant to the Corporation's Long-Term Incentive Plan. If the
Corporation's Total Shareholder Return performance, compared with its peers, is
at the third quartile (above median), then nonemployee Directors receive
options for 3,000 shares of common stock; at the fourth (top) quartile, options
for 6,000 shares. If Total Shareholder Return performance is at or below the
median, then the nonemployee Directors receive no options. The options vest
one-third upon grant, one-third one year after grant, and one-third two years
after grant, and they have a ten-year term. For 1998 performance, the
Directors will receive options for 6,000 shares, granted and priced as of March
31, 1999. See the section entitled "1998 Executive Compensation Plan" for a
discussion of the terms of the option grants.
No officer received any compensation for services as a Director while also
serving as an officer of the Corporation.
The Corporation offers medical coverage to nonemployee Directors and pays the
premium associated with their participation. The Corporation also reimburses
them for the cost of Medicare Part B, if applicable. In addition, nonemployee
Directors may elect to defer compensation for distribution at a later date.
Deferred amounts will accrue interest at the prime rate or may be deferred into
the Phantom Stock Plan for Outside Directors. Deferrals may be paid in a lump
sum or in installments but will be automatically paid in a lump sum following
certain specified changes in control of the Corporation.
Following its approval by the stockholders at the 1996 Annual Meeting, the
Phantom Stock Plan for Outside Directors was established. All of the Directors
except two (one of whom has since retired) elected to participate in the plan
in lieu of participating in the Retirement Plan for Outside Directors.
Participating directors received phantom shares of equivalent actuarial value
under the Phantom Stock Plan for Outside Directors. The Retirement Plan for
Outside Directors is not available for nonemployee Directors assuming office
after April 1996; rather, they participate in the Phantom Stock Plan for
Outside Directors, under which they receive 3,000 phantom shares upon being
elected to the Board. Payment of cash benefits will commence upon termination
of Board service or upon specified changes in control of the Corporation.
For the Director(s) remaining in the Retirement Plan, each nonemployee Director
with a minimum of five years' service on the Board who retires after attaining
age 65 or becoming disabled could receive annual retirement payments equal to
the amount of the annual retainer for Board service at the time of retirement.
Payments under the Retirement Plan will cease at the death of the Director
unless the Director elected an actuarial equivalent option or, if death occurs
before retirement but after eligibility is established, at the death of the
surviving spouse. In the event of certain specified changes in control of the
Corporation, a Director (regardless of years of service on the Board) could
elect a lump sum payment equal to the present value of the retainer at the time
of the election times the number of years of Board service, with a minimum of
ten years.
The director's compensation amounted to $662,000.
66
<PAGE> 68
PART III(b). SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS, DIRECTORS AND
MANAGEMENT
The following table sets forth the beneficial ownership of common stock by
stockholders, if any, who own greater than 5 percent of the outstanding shares
as of January 31, 1999, by Directors, by each of the executive officers whose
compensation is disclosed in the Summary Compensation Table, and by all
Directors and such executive officers as a group. Except as otherwise noted,
the persons named in the table below have sole voting and investment power with
respect to all shares shown as beneficially owned by them.
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)
Percent
Title of Amount and Nature of of
Class Name and Address Beneficial Ownership ** Class
----------------------------------------------------------------------------
Shared Sole Shared Sole
Voting Voting Investment Investment Total
Power Power Power Power Owned
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5
% Massachusetts Financial
H Services Company***
O 500 Boylston St.
L Common Boston, MA 02116-3741 4,311,859 4,333,434 4,333,434 5.2
D
E
R
S
- -------------------------------------------------------------------------------------------------------------------------------
D Common R. F. Albosta 15,500 *
----------------------------------------------------------------------------------------------------------------------------
I Common R. H. Beeby 15,500 (1) *
----------------------------------------------------------------------------------------------------------------------------
R Common W. K. Cadman 15,500 *
----------------------------------------------------------------------------------------------------------------------------
E Common J. P. Heffernan 18,500 *
----------------------------------------------------------------------------------------------------------------------------
C Common K. L. Hendricks 15,500 *
----------------------------------------------------------------------------------------------------------------------------
T Common M. T. Hopkins 22,299.3270 *
----------------------------------------------------------------------------------------------------------------------------
O Common J. B. Johnston 15,033.907 *
----------------------------------------------------------------------------------------------------------------------------
R Common M. Jozoff 15,500 *
----------------------------------------------------------------------------------------------------------------------------
S Common W. E. Lavery 15,650 *
----------------------------------------------------------------------------------------------------------------------------
Common G. E. Mayo 17,000 *
----------------------------------------------------------------------------------------------------------------------------
Common D. E. Olesen 15,531.721 *
----------------------------------------------------------------------------------------------------------------------------
Common O. G. Richard, III 341,821.272 (2) *
----------------------------------------------------------------------------------------------------------------------------
Common W. R. Wilson 23,000 *
===============================================================================================================================
O
F Common C. G. Abbott 48,181.559 (3) *
----------------------------------------------------------------------------------------------------------------------------
F
I Common R. R. Kaskel 128.874 *
----------------------------------------------------------------------------------------------------------------------------
C
E Common M. W. O'Donnell 69,615.918(4) *
----------------------------------------------------------------------------------------------------------------------------
R Common P. M. Schwolsky 56,498.704(5) *
----------------------------------------------------------------------------------------------------------------------------
S All Executive Officers &
Common Directors (18 persons) as a Group 724,297.374(6) *
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Aggregate stock ownership (including exercisable options) as a percentage
of class is less than 1 percent.
** Holdings reflect the June 1998 3-for-2 stock split in the form of a
dividend ("Stock Split"). Includes an allocation of shares held by the
Trustee of the Employees' Thrift Plan of Columbia Energy Group for the
executive officers as of 12/31/98. Also includes currently exercisable
options and those
67
<PAGE> 69
exercisable within 60 days. All holdings of the Directors, except
Messrs. Johnston, Wilson and Richard and Ms. Hendricks, include
beneficial ownership of 14,000 shares which may be acquired pursuant to
stock options awarded under Long-Term Incentive Plan (LTIP). The
holdings of Mr. Johnston and Ms. Hendricks include beneficial ownership
of 5,000 shares, and of Mr. Wilson, 8,000 shares, which may be acquired
pursuant to stock options awarded under the LTIP.
*** Information for this beneficial owner was obtained solely from owner's
Schedule 13-G filed with the U.S. Securities and Exchange Commission.
(1) Includes beneficial ownership of 1,500 shares with shared investment
power.
(2) Includes beneficial ownership of 278,935 shares which may be acquired
pursuant to stock options awarded under LTIP.
(3) Includes beneficial ownership of 300 shares with shared voting and
investment power. Includes beneficial ownership of 45,000 shares which
may be acquired pursuant to stock options awarded under LTIP.
(4) Includes beneficial ownership of 62,160 shares which may be acquired
pursuant to stock options awarded under LTIP.
(5) Includes beneficial ownership of 52,500 shares which may be acquired
pursuant to stock options awarded under LTIP.
(6) Includes beneficial ownership of 586,095 shares which may be acquired
pursuant to stock options awarded under LTIP.
68
<PAGE> 70
Part III(c). Contracts and transactions.
None.
Part III(d). Indebtedness.
None.
Part III(e). Participation in bonus and profit sharing arrangement.
See Item 6 Part III(a) above.
Part III(f). Directors and officers rights to indemnity.
Provisions for indemnification of directors and officers are included in the
Certificate of Incorporation or By-Laws in accordance with applicable laws.
DIRECTORS AND OFFICERS' LIABILITY INSURANCE - Insurance is purchased for all of
the Registrant's directors and officers, plus the directors and officers of the
subsidiary companies. This insurance also indemnifies the Registrant and its
subsidiary companies against any amounts paid by them as allowed by Corporate
law or By-Laws of the Registrant to covered directors and officers. The annual
cost thereof to the Registrant and its subsidiary companies was $1,234,000.
69
<PAGE> 71
ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS
Part I. Expenditures for any political party, candidate for public office or
holder of such office, or any committee or agent therefor.
<TABLE>
<CAPTION>
Recipient
or
Name of Company Beneficiary Purpose Accounts Charged Amount
--------------- ----------- ------- ---------------- ------
<S> <C> <C> <C> <C>
CKY Employee Political Legal, Acctg. & Solicitation Admin & General $82,067
CMD Action Fund Services rendered by
COH employees for Employees
CPA Political Action Fund
CGV registered with the Federal
Election Committee (No. C00054890)
</TABLE>
Part II. Expenditures for any citizens group or public relations counsel.
<TABLE>
<CAPTION>
Calendar Year 1998
------------------
Name of Company and Name
or Number of Recipients
or Beneficiaries Purpose Accounts Charged Amount
- ---------------------------- ------- ---------------- ------
($)
<S> <C> <C> <C>
CKY
Chamber of Commerce B Admin & General 2,420
CMD
Chamber of Commerce B Admin & General 251
COH
27 Various Chambers of Commerce B Admin & General 10,487
Ohio Chamber of Commerce B Admin & General 13,300
Better Business Bureaus B Admin & General 3,850
CPA
7 Various Chambers of Commerce B Admin & General 10,156
Home Builder's Association B Admin & General 600
Business Organization B Admin & General 700
CGV
28 Various Chambers of Commerce B Admin & General 17,178
TCO
6 Various Chambers of Commerce A Admin & General 15,364
CPC
26 Recipients B Admin & General 4,651
</TABLE>
A - Information and Education
B - Economic Development
70
<PAGE> 72
ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS
Part I. Intercompany Contracts.
CONFIDENTIAL TREATMENT REQUESTED
71
<PAGE> 73
Part II. System contracts to purchase goods or services from any affiliate
(other than a System company) or a company in which any officer or
director is a partner or owns 5% or more of any class of equity
securities.
CONFIDENTIAL TREATMENT REQUESTED
72
<PAGE> 74
Part III. System contracts with others on a continuing basis for management,
supervisory, or financial advisory review.
(a) TCO has contracted with the below firm to provide various services.
<TABLE>
<CAPTION>
Date of Court
Name Scope of Services Compensation Approval
---- ----------------- ------------ -----------
<S> <C> <C> <C>
Lehman Brothers Inc. Financial Advisor and $105,775 12/15/98
Investment Banker to the
Official Committee of
Unsecured Creditors toTCO
</TABLE>
(b) The Registrant's distribution companies contracted with the
following organizations to provide various professional services.
<TABLE>
<CAPTION>
Name Scope of Services Compensation
---- ----------------- ------------
<S> <C> <C>
Barrett & Assoc. Employee testing $46,832
selection tools
Longview Solutions IT-Finance computer $521,000
systems to COH
Thomas Green &Assoc. Governmental Affairs $93,657
to COH
</TABLE>
ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES
None.
73
<PAGE> 75
ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS
<TABLE>
<S> <C>
Financial Statements included in Form U5S:
CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 1998
Columbia Energy Group and Subsidiaries . . . . . . . . . . F-1
Columbia Electric Corporation and Subsidiaries . . . . . . F-1A
Columbia Energy Group Capital Corporation and Subsidiaries F-1B
Columbia LNG Corporation and Subsidiary . . . . . . . . . . F-1C
Columbia Energy Services Corporation and Subsidiaries . . . F-1D
Columbia Network Services Corporation and Subsidiary . . . F-1E
Columbia Energy Resources, Inc. and Subsidiaries . . . . . F-1F
Columbia Pipeline Company and Subsidiary . . . . . . . . . F-1G
SUMMARY OF CONSOLIDATING BALANCE SHEET ENTRIES AS OF
DECEMBER 31, 1998
Columbia Energy Group and Subsidiaries . . . . . . . . . . F-2
Columbia Electric Corporation and Subsidiaries . . . . . . F-2A
Columbia Energy Group Capital Corporation and Subsidiaries F-2B
Columbia LNG Corporation and Subsidiary. . . . . . . . . F-2C
Columbia Energy Services Corporation and Subsidiaries . . . F-2D
Columbia Network Services Corporation and Subsidiary . . . F-2E
Columbia Energy Resources, Inc. and Subsidiaries . . . . . F-2F
Columbia Pipeline Company and Subsidiary . . . . . . . . . F-2G
CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED
DECEMBER 31, 1998
Columbia Energy Group and Subsidiaries . . . . . . . . . . F-3
Columbia Electric Corporation and Subsidiaries . . . . . . F-3A
Columbia Energy Group Capital Corporation and Subsidiaries F-3B
Columbia LNG Corporation and Subsidiary . . . . . . . . . . F-3C
Columbia Energy Services Corporation and Subsidiaries . . . F-3D
Columbia Network Services Corporation and Subsidiary . . . F-3E
Columbia Energy Resources, Inc. and Subsidiaries . . . . . F-3F
Columbia Pipeline Company and Subsidiary . . . . . . . . . F-3G
SUMMARY OF CONSOLIDATING STATEMENT OF INCOME ENTRIES FOR
THE YEAR ENDED DECEMBER 31, 1998
Columbia Energy Group and Subsidiaries . . . . . . . . . . F-4
Columbia Electric Corporation and Subsidiaries . . . . . . F-4A
Columbia Energy Group Capital Corporation and Subsidiaries F-4B
Columbia LNG Corporation and Subsidiary . . . . . . . . . . F-4C
Columbia Energy Services Corporation and Subsidiaries . . . F-4D
Columbia Network Services Corporation and Subsidiary . . . F-4E
Columbia Natural Resources, Inc. and Subsidiaries . . . . . F-4F
Columbia Pipeline Company and Subsidiary . . . . . . . . . F-4G
</TABLE>
74
<PAGE> 76
<TABLE>
<S> <C>
CONSOLIDATING STATEMENT OF COMMON STOCK EQUITY FOR THE
YEAR ENDED DECEMBER 31, 1998
Columbia Energy Group and Subsidiaries . . . . . . . . . . F-5
Columbia Electric Corporation and Subsidiaries . . . . . . F-5A
Columbia Energy Group Capital Corporation and Subsidiaries F-5B
Columbia LNG Corporation and Subsidiary . . . . . . . . . . F-5C
Columbia Energy Services Corporation and Subsidiaries . . . F-5D
Columbia Network Services Corporation and Subsidiary . . . F-5E
Columbia Energy Resources, Inc. and Subsidiaries . . . . . F-5F
Columbia Pipeline Company and Subsidiary . . . . . . . . . F-5G
CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1998
Columbia Energy Group and Subsidiaries . . . . . . . . . . F-6
Columbia Electric Corporation and Subsidiaries . . . . . . F-6A
Columbia Energy Group Capital Corporation and Subsidiaries F-6B
Columbia LNG Corporation and Subsidiary . . . . . . . . . . F-6C
Columbia Energy Services Corporation and Subsidiaries . . . F-6D
Columbia Network Services Corporation and Subsidiary . . . F-6E
Columbia Natural Resources, Inc. and Subsidiaries . . . . . F-6F
Columbia Pipeline Company and Subsidiary . . . . . . . . . F-6G
</TABLE>
75
<PAGE> 77
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 F-1 F-1 F-1 Consolidating
Page 2 Page 3 Page 4 Page 5 Combined Entries Consolidated
-------- -------- -------- -------- ---------- ------------- --------------
ASSETS
<S> <C> <C> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at
original cost ...................... * * * * * * 7,687,812
Accumulated depreciation............. (3,592,359)
-------- -------- -------- -------- ---------- ------------- --------------
Net Gas Utility and Other Plant ..... 4,095,453
-------- -------- -------- -------- ---------- ------------- --------------
Gas and oil producing properties,
full cost method....................
United States cost center.......... 714,058
Canadian cost center............... 5,047
Accumulated depletion ............... (225,378)
-------- -------- -------- -------- ---------- ------------- --------------
Net Gas and Oil Producing Properties. 493,727
-------- -------- -------- -------- ---------- ------------- --------------
Net Property, Plant, and Equipment .... 4,589,180
-------- -------- -------- -------- ---------- ------------- --------------
Investments and Other Assets
Accounts receivable - noncurrent .... 26,214
Unconsolidated affiliates ........... 81,600
Assets held for sale ................ 1,540
Other ............................... 12,750
-------- -------- -------- -------- ---------- ------------- --------------
Total Investments and Other Assets .... 122,104
-------- -------- -------- -------- ---------- ------------- --------------
Investments in Subsidiaries
Capital stock ....................... -
Equity in undistributed earnings of
subsidiaries ....................... -
Notes receivable .................... -
Other investments.................... -
-------- -------- -------- -------- ---------- ------------- --------------
Total Investments in Subsidiaries ..... -
-------- -------- -------- -------- ---------- ------------- --------------
Current Assets
Cash and temporary cash investments.. 26,326
Accounts receivable, net
Customers ......................... 948,919
Intercompany ...................... -
Other ............................. 55,955
Gas inventory ....................... 186,014
Other inventories, at average cost .. 26,803
Prepayments ......................... 115,952
Regulatory assets ................... 59,495
Underrecovered gas costs ............ 24,458
Deferred property tax................ 79,965
Exchange gas receivable.............. 187,371
Other ............................... 69,241
-------- -------- -------- -------- ---------- ------------- --------------
Total Current Assets .................. 1,780,499
-------- -------- -------- -------- ---------- ------------- --------------
Deferred Charges ...................... 85,530
Long-term Regulatory Assets............ 391,362
-------- -------- -------- -------- ---------- ------------- --------------
TOTAL ASSETS .......................... 6,968,675
======== ======== ======== ======== ========== ============= ==============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 78
F-1 (2 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 2
CER (a) TCO CGT CLG (a) CKY Total
---------- ----------- ----------- ---------- ---------- -----------
ASSETS
<S> <C> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant,
at original cost ................... * 3,506,761 1,277,319 * 202,384 *
Accumulated depreciation............. (1,430,587) (1,045,037) (82,252)
---------- ----------- ----------- ---------- ---------- -----------
Net Gas Utility and Other Plant ..... 2,076,174 232,282 120,132
---------- ----------- ----------- ---------- ---------- -----------
Gas and oil producing properties,
full cost method....................
United States cost center.......... - - -
Canadian cost center............... - - -
Accumulated depletion ............... - - -
---------- ----------- ----------- ---------- ---------- -----------
Net Gas and Oil Producing Properties. - - -
---------- ----------- ----------- ---------- ---------- -----------
Net Property, Plant, and Equipment .... 2,076,174 232,282 120,132
---------- ----------- ----------- ---------- ---------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .... 30,913 - -
Unconsolidated affiliates ........... 14,264 22,679 -
Assets held for sale ................ - - -
Other ............................... - - -
---------- ----------- ----------- ---------- ---------- -----------
Total Investments and Other Assets .... 45,177 22,679 -
---------- ----------- ----------- ---------- ---------- -----------
Investments in Subsidiaries
Capital stock ....................... - - -
Equity in undistributed earnings of
subsidiaries ....................... - - -
Notes receivable .................... - - -
Other investments.................... - - -
---------- ----------- ----------- ---------- ---------- -----------
Total Investments in Subsidiaries ..... - - -
---------- ----------- ----------- ---------- ---------- -----------
Current Assets
Cash and temporary cash investments . 70 11 573
Accounts receivable, net
Customers ......................... 36,106 9,172 14,306
Intercompany ...................... 33,204 3,340 475
Other ............................. 12,649 4,622 293
Gas inventory ....................... - - 18,029
Other inventories, at average cost .. 11,673 5,364 85
Prepayments ......................... 3,877 1,905 514
Regulatory assets ................... 26,067 3,436 550
Underrecovered gas costs ............ - - -
Deferred property tax................ - - -
Exchange gas receivable.............. - - -
Other ............................... 103,357 20,390 13,244
---------- ----------- ----------- ---------- ---------- -----------
Total Current Assets .................. 227,003 48,240 48,069
---------- ----------- ----------- ---------- ---------- -----------
Deferred Charges ...................... 2,930 300 637
Longterm Regulatory Assets............. 181,646 9,129 7,330
---------- ----------- ----------- ---------- ---------- -----------
TOTAL ASSETS .......................... 2,532,930 312,630 176,168
========== =========== =========== ========== ========== ===========
</TABLE>
(a) CER includes five subsidiaries and CLG includes one subsidiary as noted in
Item 1. Consolidating financial statements of CER and CLG are presented herewith
in Exhibits F-1F through F-6F and F-1C through F-6C, respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 79
F-1 (3 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 3
COH CMD CPA CGV CG Total
--------- --------- --------- ---------- -------- ----------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant,
at original cost......................... 1,373,261 74,336 576,663 392,847 * *
Accumulated depreciation.................. (600,740) (29,332) (181,686) (82,688)
--------- --------- --------- ---------- -------- ----------
Net Gas Utility and Other Plant........... 772,521 45,004 394,977 310,159
--------- --------- --------- ---------- -------- ----------
Gas and oil producing properties,
full cost method.........................
United States cost center............... - - - -
Canadian cost center.................... - - - -
Accumulated depletion..................... - - - -
--------- --------- --------- ---------- -------- ----------
Net Gas and Oil Producing Properties...... - - - -
--------- --------- --------- ---------- -------- ----------
Net Property, Plant, and Equipment.......... 772,521 45,004 394,977 310,159
--------- --------- --------- ---------- -------- ----------
Investments and Other Assets
Accounts receivable - noncurrent.......... - - - -
Unconsolidated affiliates................. - - - -
Assets held for sale...................... - - - -
Other..................................... - - - -
--------- --------- --------- ---------- -------- ----------
Total Investments and Other Assets.......... - - - -
--------- --------- --------- ---------- -------- ----------
Investments in Subsidiaries
Capital stock............................. - - - -
Equity in undistributed earnings of
subsidiaries............................. - - - -
Notes receivable.......................... - - - -
Other investments......................... - - - -
--------- --------- --------- ---------- -------- ----------
Total Investments in Subsidiaries........... - - - -
--------- --------- --------- ---------- -------- ----------
Current Assets
Cash and temporary cash investments....... 3,266 103 1,020 773
Accounts receivable, net
Customers............................... 138,064 5,763 58,178 27,330
Intercompany............................ 24,100 389 1,658 926
Other................................... 8,134 229 1,468 291
Gas inventory............................. 95,948 3,507 54,279 14,251
Other inventories, at average cost........ 5,467 234 746 501
Prepayments............................... 50,003 1,354 1,628 1,300
Regulatory assets......................... 22,340 462 4,512 2,128
Underrecovered gas costs.................. - - - -
Deferred property tax..................... - - - -
Exchange gas receivable................... - - - -
Other..................................... 154,863 4,545 38,294 5,901
--------- --------- --------- ---------- -------- ----------
Total Current Assets........................ 502,185 16,586 161,783 53,401
--------- --------- --------- ---------- -------- ----------
Deferred Charges............................ 12,425 217 1,439 1,253
Long-term Regulatory Assets................. 108,233 2,912 72,337 9,775
--------- --------- --------- ---------- -------- ----------
TOTAL ASSETS................................ 1,395,364 64,719 630,536 374,588
========= ========= ========= ========== ======== ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 80
F-1 (4 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 4
CS CIC CES (a) CPC CEC (a) Total
--------- ------- ---------- ------ --------- -----------
ASSETS
<S> <C> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost .......... 53,762 * * * * *
Accumulated depreciation ............................... (25,581)
--------- ------- ---------- ------ --------- -----------
Net Gas Utility and Other Plant ........................ 28,181
--------- ------- ---------- ------ --------- -----------
Gas and oil producing properties, full cost method ..... -
United States cost center ............................ -
Canadian cost center ................................. -
Accumulated depletion................................... -
--------- ------- ---------- ------ --------- -----------
Net Gas and Oil Producing Properties.................... -
--------- ------- ---------- ------ --------- -----------
Net Property, Plant, and Equipment ....................... 28,181
--------- ------- ---------- ------ --------- -----------
Investments and Other Assets
Accounts receivable - noncurrent ....................... -
Unconsolidated affiliates .............................. -
Assets held for sale.................................... -
Other .................................................. -
--------- ------- ---------- ------ --------- -----------
Total Investments and Other Assets ....................... -
--------- ------- ---------- ------ --------- -----------
Investments in Subsidiaries
Capital stock .......................................... -
Equity in undistributed earnings of
subsidiaries .......................................... -
Notes receivable ....................................... -
Other investments ...................................... -
--------- ------- ---------- ------ --------- -----------
Total Investments in Subsidiaries ........................ -
--------- ------- ---------- ------ --------- -----------
Current Assets
Cash and temporary cash investments .................... 433
Accounts receivable, net
Customers
Intercompany ......................................... 44,338
Other ................................................ 1,834
Gas inventory........................................... -
Other inventories, at average cost...................... -
Prepayments ............................................ 335
Regulatory assets ...................................... -
Underrecovered gas costs ............................... -
Deferred property tax .................................. -
Exchange gas receivable ................................ -
Other .................................................. 4,701
--------- ------- ---------- ------ --------- -----------
Total Current Assets ..................................... 51,641
--------- ------- ---------- ------ --------- -----------
Deferred Charges ......................................... 19,922
Long-term Regulatory Assets -
--------- ------- ---------- ------ --------- -----------
TOTAL ASSETS ............................................. 99,744
========= ======= ========== ====== ========= ===========
</TABLE>
(a) CES includes four subsidiaries and CEC includes eleven subsidiaries as noted
in Item 1. Consolidating financial statements of CES and CEC are presented
herewith in Item 10, Exhibits F-1D through F-6D and F-1A through F-6A,
respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 81
F-1 (5 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 5
CCC (a) CAT CNS (a) CPL (a) Total
--------- ------- ---------- --------- -------------
ASSETS
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant,
at original cost ........................ * * * * *
Accumulated depreciation..................
--------- ------- ---------- --------- -------------
Net Gas Utility and Other Plant ..........
--------- ------- ---------- --------- -------------
Gas and oil producing properties,
full cost method.........................
United States cost center...............
Canadian cost center....................
Accumulated depletion ....................
--------- ------- ---------- --------- -------------
Net Gas and Oil Producing Properties .....
--------- ------- ---------- --------- -------------
Net Property, Plant, and Equipment .........
Investments and Other Assets
Accounts receivable - noncurrent .........
Unconsolidated affiliates ................
Assets held for sale .....................
Other ....................................
--------- ------- ---------- --------- -------------
Total Investments and Other Assets .........
--------- ------- ---------- --------- -------------
Investments in Subsidiaries
Capital stock ............................
Equity in undistributed earnings of
subsidiaries ............................
Notes receivable .........................
Other investments.........................
--------- ------- ---------- --------- -------------
Total Investments in Subsidiaries ..........
--------- ------- ---------- --------- -------------
Current Assets
Cash and temporary cash investments ......
Accounts receivable, net
Customers ..............................
Intercompany ...........................
Other ..................................
Gas inventory ............................
Other inventories, at average cost .......
Prepayments ..............................
Regulatory assets ........................
Underrecovered gas costs .................
Deferred property tax.....................
Exchange gas receivable...................
Other ....................................
--------- ------- ---------- --------- -------------
Total Current Assets .......................
--------- ------- ---------- --------- -------------
Deferred Charges ...........................
Long-term Regulatory Assets.................
--------- ------- ---------- --------- -------------
TOTAL ASSETS ...............................
========= ======= ========== ========= =============
</TABLE>
(b) Both CCC and CNS include two subsidiaries and CPL includes one subsidiary as
noted in Item 1. Consolidating financial statements of CCC, CNS and CPL are
presented herewith in Item 10, Exhibits F-1B through F-6B, F-1E through F-6E and
F-1G through F-6G, respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 82
F-1 (6 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 F-1 F-1 F-1 Consolidating
Page 7 Page 8 Page 9 Page 10 Combined Entries Consolidated
------ ------ ------ ------- -------- ------------- ------------
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ..... * * * * * * 835,119
Subsidiaries - common stock ........................ -
Additional paid in capital ......................... 761,804
Retained earnings .................................. 409,544
Accumulated foreign currency translation adjustment. (281)
Unearned employee compensation...................... (876)
------ ------ ------ ------- -------- ------------- ------------
Total common stock equity ............................ 2,005,310
------ ------ ------ ------- -------- ------------- ------------
Long-term debt ....................................... 2,003,120
Installment promissory notes payable ................. -
------ ------ ------ ------- -------- ------------- ------------
Total Capitalization ................................... 4,008,430
------ ------ ------ ------- -------- ------------- ------------
Current Liabilities
Shortterm debt ....................................... 144,674
Current maturities of L.T. debt....................... 378
Accounts and drafts payable .......................... 710,696
Intercompany notes and loans - current maturities .... -
Intercompany shortterm loans ......................... -
Intercompany accounts payable ........................ -
Accrued taxes ........................................ 205,897
Accrued interest ..................................... 17,341
Estimated rate refunds ............................... 59,176
Estimated supplier obligations ....................... 72,394
Overrecovered gas costs .............................. 34,256
Transportation and exchange gas payable .............. 134,262
Deferred income taxes ................................ -
Regulatory liabilities ............................... 24,520
Other ................................................ 288,071
------ ------ ------ ------- -------- ------------- ------------
Total Current Liabilities .............................. 1,691,665
------ ------ ------ ------- -------- ------------- ------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent..................... 655,238
Investment tax credits ............................... 34,119
Postretirement benefits other than pensions .......... 103,669
Longterm regulatory liabilities ...................... 44,026
Deferred revenue...................................... 191,401
Other ................................................ 240,127
------ ------ ------ ------- -------- ------------- ------------
Total Other Liabilities and Deferred Credits ........... 1,268,580
------ ------ ------ ------- -------- ------------- ------------
TOTAL CAPITALIZATION AND LIABILITIES ................... 6,968,675
====== ====== ====== ======= ======== ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 83
F-1 (7 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CER (a) TCO CGT CLG (a)
-------------- --------- ---------- -----------
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * - - *
Subsidiaries - common stock ......................... 48 20
Additional paid in capital .......................... 1,512,025 82,429
Retained earnings ................................... (516,275) 40,002
Accumulated foreign currency translation adjustment.. - -
Unearned employee compensation....................... - -
-------------- --------- ---------- -----------
Total common stock equity ............................. 995,798 122,451
-------------- --------- ---------- -----------
Long-term debt ........................................ 518 -
Installment promissory notes payable .................. 643,000 68,414
-------------- --------- ---------- -----------
Total Capitalization .................................... 1,639,316 190,865
-------------- --------- ---------- -----------
Current Liabilities
Short-term debt ....................................... - -
Current maturities of L.T. debt........................ 37 -
Accounts and drafts payable ........................... 15,658 2,875
Intercompany notes and loans - current maturities ..... - -
Intercompany short-term loans ......................... 22,529 2,708
Intercompany accounts payable ......................... 37,973 14,208
Accrued taxes ......................................... 83,227 7,889
Accrued interest ...................................... 6 135
Estimated rate refunds ................................ 47,124 2,006
Estimated supplier obligations ........................ 72,394 -
Overrecovered gas costs ............................... - -
Transportation and exchange gas payable ............... - -
Deferred income taxes ................................. - -
Regulatory liabilities ................................ 21,807 2,713
Other ................................................. 136,613 43,383
-------------- --------- ---------- -----------
Total Current Liabilities ............................... 437,368 75,917
-------------- --------- ---------- -----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent...................... 259,184 37,299
Investment tax credits ................................ 950 254
Postretirement benefits other than pensions ........... 18,274 3,079
Long-term regulatory liabilities ...................... 15,368 153
Deferred revenue....................................... - -
Other ................................................. 162,470 5,063
-------------- --------- ---------- -----------
Total Other Liabilities and Deferred Credits ............ 456,246 45,848
-------------- --------- ---------- -----------
TOTAL CAPITALIZATION AND LIABILITIES .................... 2,532,930 312,630
============== ========= ========== ===========
</TABLE>
<TABLE>
<CAPTION>
F1 Page 7
CKY Total
--------- ---------------
CAPITALIZATION AND LIABILITIES
<S> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... - *
Subsidiaries - common stock ......................... 23,806
Additional paid in capital .......................... 174
Retained earnings ................................... 45,084
Accumulated foreign currency translation adjustment.. -
Unearned employee compensation....................... -
--------- ---------------
Total common stock equity ............................. 69,064
--------- ---------------
Longterm debt ......................................... 218
Installment promissory notes payable .................. 54,494
--------- ---------------
Total Capitalization .................................... 123,776
--------- ---------------
Current Liabilities
Short-term debt ....................................... -
Current maturities of L.T. debt........................ 17
Accounts and drafts payable ........................... 5,793
Intercompany notes and loans - current maturities ..... -
Intercompany short-term loans ......................... -
Intercompany accounts payable ......................... 10,050
Accrued taxes ......................................... 2,081
Accrued interest ...................................... 276
Estimated rate refunds ................................ 359
Estimated supplier obligations ........................ -
Overrecovered gas costs ............................... -
Transportation and exchange gas payable ............... -
Deferred income taxes ................................. 1,136
Regulatory liabilities ................................ -
Other ................................................. 18,219
--------- ---------------
Total Current Liabilities ............................... 37,931
--------- ---------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent...................... 5,817
Investment tax credits ................................ 1,724
Postretirement benefits other than pensions ........... 1,532
Long-term regulatory liabilities ...................... 4,220
Deferred revenue....................................... -
Other ................................................. 1,168
--------- ---------------
Total Other Liabilities and Deferred Credits ............ 14,461
--------- ---------------
TOTAL CAPITALIZATION AND LIABILITIES .................... 176,168
========= ===============
</TABLE>
(a) CER includes five subsidiaries and CLG includes one subsidiary as noted in
Item 1. Consolidating financial statements of CER and CLG are presented
herewith in Item 10, Exhibits F-1F through F-6F and F-1C through F-6C,
respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 84
F-1 (8 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 8
COH CMD CPA CGV CG Total
------------ --------- ---------- --------- ----------- -----------
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... - - - - * *
Subsidiaries - common stock ......................... 119,240 72 85,128 65,305
Additional paid in capital .......................... - 10,020 - 2,969
Retained earnings ................................... 316,404 13,203 133,671 86,249
Accumulated foreign currency translation adjustment.. - - - -
Unearned employee compensation....................... - - - -
------------ --------- ---------- --------- ----------- -----------
Total common stock equity ............................. 435,644 23,295 218,799 154,523
------------ --------- ---------- --------- ----------- -----------
Long-term debt ........................................ 2,005 21 - -
Installment promissory notes payable .................. 319,959 17,819 148,451 126,677
------------ --------- ---------- --------- ----------- -----------
Total Capitalization .................................... 757,608 41,135 367,250 281,200
------------ --------- ---------- --------- ----------- -----------
Current Liabilities
Short-term debt ....................................... - - - -
Current maturities of L.T. debt........................ 128 19 - -
Accounts and drafts payable ........................... 67,333 3,560 19,501 11,945
Intercompany notes and loans - current maturities ..... - - - -
Intercompany short-term loans ......................... 91,428 1,203 44,236 -
Intercompany accounts payable ......................... 58,763 3,815 26,505 12,675
Accrued taxes ......................................... 100,505 203 7,266 3,151
Accrued interest ...................................... 277 11 45 173
Estimated rate refunds ................................ 936 210 2,384 6,157
Estimated supplier obligations ........................ - - - -
Overrecovered gas costs ............................... - - - -
Transportation and exchange gas payable ............... - - - -
Deferred income taxes ................................. 14,523 - 1,708 -
Regulatory liabilities ................................ - - - -
Other ................................................. 127,705 7,138 47,096 22,495
------------ --------- ---------- --------- ----------- -----------
Total Current Liabilities ............................... 461,598 16,159 148,741 56,596
------------ --------- ---------- --------- ----------- -----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent...................... 80,805 3,504 80,748 21,485
Investment tax credits ................................ 18,592 957 8,977 2,665
Postretirement benefits other than pensions ........... 51,091 991 8,195 4,020
Long-term regulatory liabilities ...................... 10,011 1,441 11,398 1,435
Deferred revenue....................................... - - - -
Other ................................................. 15,659 532 5,227 7,187
------------ --------- ---------- --------- ----------- -----------
Total Other Liabilities and Deferred Credits ............ 176,158 7,425 114,545 36,792
------------ --------- ---------- --------- ----------- -----------
TOTAL CAPITALIZATION AND LIABILITIES .................... 1,395,364 64,719 630,536 374,588
============ ========= ========== ========= =========== ===========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 85
F-1 (9 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 9
CS CIC CES (a) CPC CEC (a) Total
----------- --------- ---------- --------- ---------- ----------
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... - * * * * *
Subsidiaries - common stock ......................... 300
Additional paid in capital .......................... 12,700
Retained earnings ................................... 186
Accumulated foreign currency translation adjustment.. -
Unearned employee compensation....................... -
----------- --------- ---------- --------- ---------- ----------
Total common stock equity ............................. 13,186
----------- --------- ---------- --------- ---------- ----------
Long-term debt ........................................ -
Installment promissory notes payable .................. 16,043
----------- --------- ---------- --------- ---------- ----------
Total Capitalization .................................... 29,229
----------- --------- ---------- --------- ---------- ----------
Current Liabilities
Short-term debt ....................................... -
Current maturities of L.T. debt........................ -
Accounts and drafts payable ........................... 13,555
Intercompany notes and loans - current maturities ..... -
Intercompany shortterm loans .......................... 30,788
Intercompany accounts payable ......................... 3,954
Accrued taxes ......................................... 506
Accrued interest ...................................... -
Estimated rate refunds ................................ -
Estimated supplier obligations ........................ -
Overrecovered gas costs ............................... -
Transportation and exchange gas payable ............... -
Deferred income taxes ................................. -
Regulatory liabilities ................................ -
Other ................................................. 14,299
----------- --------- ---------- --------- ---------- ----------
Total Current Liabilities ............................... 63,102
----------- --------- ---------- --------- ---------- ----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent...................... 1,715
Investment tax credits ................................ -
Postretirement benefits other than pensions ........... 3,992
Long-term regulatory liabilities ...................... -
Deferred revenue....................................... -
Other ................................................. 1,706
----------- --------- ---------- --------- ---------- ----------
Total Other Liabilities and Deferred Credits ............ 7,413
----------- --------- ---------- --------- ---------- ----------
TOTAL CAPITALIZATION AND LIABILITIES .................... 99,744
=========== ========= ========== ========= ========== ==========
</TABLE>
(a) CES includes four subsidiaries and CEC includes eleven subsidiaries as
noted in Item 1. Consolidating financial statements of CES and CEC are
presented herewith in Item 10, Exhibits F-1D through F-6D and F-1A through F-6A,
respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 86
F-1 (10 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 10
CCC (a) CAT CNS (a) CPL (a) Total
------------ ----------- --------- ----------- -----------
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * * * * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation.......................
------------ ----------- --------- ----------- ----------
Total common stock equity .............................
------------ ----------- --------- ----------- ----------
Long-term debt ........................................
Installment promissory notes payable ..................
------------ ----------- --------- ----------- ----------
Total Capitalization ....................................
------------ ----------- --------- ----------- ----------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities.................................
Other .................................................
------------ ----------- --------- ----------- ----------
Total Current Liabilities ...............................
------------ ----------- --------- ----------- ----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities.......................
Deferred revenue.......................................
Other .................................................
------------ ----------- --------- ----------- ----------
Total Other Liabilities and Deferred Credits ............
------------ ----------- --------- ----------- ----------
TOTAL CAPITALIZATION AND LIABILITIES ....................
============ =========== ========= =========== ==========
</TABLE>
(a) Both CCC and CNS include two subsidiaries and CPL includes one subsidiary
as noted in Item 1. Consolidating financial statements of CCC, CNS and CPL are
presented herewith in Item 10, Exhibits F-1B through F-6B, F-1E through F-6E and
F-1G through F-6G, respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 87
F-1A (1 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1A F-1A Consolidating CEC
Page 2 Page 3 Combined Entries Consolidated
---------- ---------- --------- ----------- ----------
ASSETS
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * * *
Accumulated depreciation...........................
---------- ---------- --------- ----------- ----------
Net Gas Utility and Other Plant....................
---------- ---------- --------- ----------- ----------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
---------- ---------- --------- ----------- ----------
Net Gas and Oil Producing Properties ..............
---------- ---------- --------- ----------- ----------
Net Property, Plant, and Equipment ..................
---------- ---------- --------- ----------- ----------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
---------- ---------- --------- ----------- ----------
Total Investments and Other Assets ..................
---------- ---------- --------- ----------- ----------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investment ..................................
---------- ---------- --------- ----------- ----------
Total Investments in Subsidiaries ...................
---------- ---------- --------- ----------- ----------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
---------- ---------- --------- ----------- ----------
Total Current Assets ................................
---------- ---------- --------- ----------- ----------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
---------- ---------- --------- ----------- ----------
TOTAL ASSETS ........................................
========== ========== ========= =========== ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 88
F-1A (2 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CBG CBL CGG CGP CLP
---------- ---------- --------- ----------- ----------
ASSETS
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * * *
Accumulated depreciation...........................
---------- ---------- --------- ----------- ----------
Net Gas Utility and Other Plant....................
---------- ---------- --------- ----------- ----------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
---------- ---------- --------- ----------- ----------
Net Gas and Oil Producing Properties ..............
---------- ---------- --------- ----------- ----------
Net Property, Plant, and Equipment ..................
---------- ---------- --------- ----------- ----------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
---------- ---------- --------- ----------- ----------
Total Investments and Other Assets ..................
---------- ---------- --------- ----------- ----------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
---------- ---------- --------- ----------- ----------
Total Investments in Subsidiaries ...................
---------- ---------- --------- ----------- ----------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
---------- ---------- --------- ----------- ----------
Total Current Assets ................................
---------- ---------- --------- ----------- ----------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
---------- ---------- --------- ----------- ----------
TOTAL ASSETS ........................................
========== ========== ========= =========== ==========
</TABLE>
<TABLE>
<CAPTION>
F-1A Page 2
CEC Total
----------- ----------
ASSETS
<S> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * *
Accumulated depreciation...........................
----------- ----------
Net Gas Utility and Other Plant....................
----------- ----------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
----------- ----------
Net Gas and Oil Producing Properties ..............
----------- ----------
Net Property, Plant, and Equipment ..................
----------- ----------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
----------- ----------
Total Investments and Other Assets ..................
----------- ----------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
----------- ----------
Total Investments in Subsidiaries ...................
----------- ----------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
----------- ----------
Total Current Assets ................................
----------- ----------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
----------- ----------
TOTAL ASSETS ........................................
=========== ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 89
F-1A (3 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CVG CVL CRL CEH CEL
---------- ---------- --------- ----------- ----------
ASSETS
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * * *
Accumulated depreciation...........................
---------- ---------- --------- ----------- ----------
Net Gas Utility and Other Plant....................
---------- ---------- --------- ----------- ----------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
---------- ---------- --------- ----------- ----------
Net Gas and Oil Producing Properties ..............
---------- ---------- --------- ----------- ----------
Net Property, Plant, and Equipment ..................
---------- ---------- --------- ----------- ----------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
---------- ---------- --------- ----------- ----------
Total Investments and Other Assets ..................
---------- ---------- --------- ----------- ----------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
---------- ---------- --------- ----------- ----------
Total Investments in Subsidiaries ...................
---------- ---------- --------- ----------- ----------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
---------- ---------- --------- ----------- ----------
Total Current Assets ................................
---------- ---------- --------- ----------- ----------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
---------- ---------- --------- ----------- ----------
TOTAL ASSETS ........................................
========== ========== ========= =========== ==========
</TABLE>
<TABLE>
<CAPTION>
F-1A PAGE 3
CGR TOTAL
----------- ----------
ASSETS
<S> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * *
Accumulated depreciation...........................
----------- ----------
Net Gas Utility and Other Plant....................
----------- ----------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
----------- ----------
Net Gas and Oil Producing Properties ..............
----------- ----------
Net Property, Plant, and Equipment ..................
----------- ----------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
----------- ----------
Total Investments and Other Assets ..................
----------- ----------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
----------- ----------
Total Investments in Subsidiaries ...................
----------- ----------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
----------- ----------
Total Current Assets ................................
----------- ----------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
----------- ----------
TOTAL ASSETS ........................................
=========== ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 90
F-1A (4 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1A F-1A Consolidating CEC
CAPITALIZATION AND LIABILITIES Page 5 Page 6 Combined Entries Consolidated
------------ ----------- --------- ----------- ----------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * * * * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation.......................
------------ ----------- --------- ----------- ----------
Total common stock equity .............................
------------ ----------- --------- ----------- ----------
Long-term debt ........................................
Installment promissory notes payable ..................
------------ ----------- --------- ----------- ----------
Total Capitalization ....................................
------------ ----------- --------- ----------- ----------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities.................................
Other .................................................
------------ ----------- --------- ----------- ----------
Total Current Liabilities ...............................
------------ ----------- --------- ----------- ----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities.......................
Deferred revenue.......................................
Other .................................................
------------ ----------- --------- ----------- ----------
Total Other Liabilities and Deferred Credits ............
------------ ----------- --------- ----------- ----------
TOTAL CAPITALIZATION AND LIABILITIES ....................
============ =========== ========= =========== ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 91
F-1A (5 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CAPITALIZATION AND LIABILITIES CBG CBL CGG CGP CLP
------------ ----------- --------- ----------- ----------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * * * * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation.......................
------------ ----------- --------- ----------- ----------
Total common stock equity .............................
------------ ----------- --------- ----------- ----------
Long-term debt ........................................
Installment promissory notes payable ..................
------------ ----------- --------- ----------- ----------
Total Capitalization ....................................
------------ ----------- --------- ----------- ----------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities.................................
Other .................................................
------------ ----------- --------- ----------- ----------
Total Current Liabilities ...............................
------------ ----------- --------- ----------- ----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities.......................
Deferred revenue.......................................
Other .................................................
------------ ----------- --------- ----------- ----------
Total Other Liabilities and Deferred Credits ............
------------ ----------- --------- ----------- ----------
TOTAL CAPITALIZATION AND LIABILITIES ....................
============ =========== ========= =========== ==========
</TABLE>
<TABLE>
<CAPTION>
F-1A Page 5
CAPITALIZATION AND LIABILITIES CEC Total
----------- ----------
<S> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation.......................
----------- ----------
Total common stock equity .............................
----------- ----------
Long-term debt ........................................
Installment promissory notes payable ..................
----------- ----------
Total Capitalization ....................................
----------- ----------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities.................................
Other .................................................
----------- ----------
Total Current Liabilities ...............................
----------- ----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities.......................
Deferred revenue.......................................
Other .................................................
----------- ----------
Total Other Liabilities and Deferred Credits ............
----------- ----------
TOTAL CAPITALIZATION AND LIABILITIES ....................
=========== ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 92
F-1A (6 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CAPITALIZATION AND LIABILITIES CVG CVL CRL CEH CEL
------------ ----------- --------- ----------- ----------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * * * * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation.......................
------------ ----------- --------- ----------- ----------
Total common stock equity .............................
------------ ----------- --------- ----------- ----------
Long-term debt ........................................
Installment promissory notes payable ..................
------------ ----------- --------- ----------- ----------
Total Capitalization ....................................
------------ ----------- --------- ----------- ----------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities.................................
Other .................................................
------------ ----------- --------- ----------- ----------
Total Current Liabilities ...............................
------------ ----------- --------- ----------- ----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities.......................
Deferred revenue.......................................
Other .................................................
------------ ----------- --------- ----------- ----------
Total Other Liabilities and Deferred Credits ............
------------ ----------- --------- ----------- ----------
TOTAL CAPITALIZATION AND LIABILITIES ....................
============ =========== ========= =========== ==========
</TABLE>
<TABLE>
<CAPTION>
F-1A Page 6
CAPITALIZATION AND LIABILITIES CGR Total
----------- ----------
<S> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation.......................
----------- ----------
Total common stock equity .............................
----------- ----------
Long-term debt ........................................
Installment promissory notes payable ..................
----------- ----------
Total Capitalization ....................................
----------- ----------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities.................................
Other .................................................
----------- ----------
Total Current Liabilities ...............................
----------- ----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities.......................
Deferred revenue.......................................
Other .................................................
----------- ----------
Total Other Liabilities and Deferred Credits ............
----------- ----------
TOTAL CAPITALIZATION AND LIABILITIES ....................
=========== ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 93
F-1B (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Group Capital Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
TGT CTC CCC Combined
---------- ---------- --------- -----------
ASSETS
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
---------- ---------- --------- -----------
Net Gas Utility and Other Plant....................
---------- ---------- --------- -----------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
---------- ---------- --------- -----------
Net Gas and Oil Producing Properties ..............
---------- ---------- --------- -----------
Net Property, Plant, and Equipment ..................
---------- ---------- --------- -----------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
---------- ---------- --------- -----------
Total Investments and Other Assets ..................
---------- ---------- --------- -----------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
---------- ---------- --------- -----------
Total Investments in Subsidiaries ...................
---------- ---------- --------- -----------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
---------- ---------- --------- -----------
Total Current Assets ................................
---------- ---------- --------- -----------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
---------- ---------- --------- -----------
TOTAL ASSETS ........................................
========== ========== ========= ===========
</TABLE>
<TABLE>
<CAPTION>
Consolidating CCC
Entries Consolidated
----------- ----------
ASSETS
<S> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * *
Accumulated depreciation...........................
----------- ----------
Net Gas Utility and Other Plant....................
----------- ----------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
----------- ----------
Net Gas and Oil Producing Properties ..............
----------- ----------
Net Property, Plant, and Equipment ..................
----------- ----------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
----------- ----------
Total Investments and Other Assets ..................
----------- ----------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
----------- ----------
Total Investments in Subsidiaries ...................
----------- ----------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
----------- ----------
Total Current Assets ................................
----------- ----------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
----------- ----------
TOTAL ASSETS ........................................
=========== ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 94
F-1B (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Group Capital Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CAPITALIZATION AND LIABILITIES TGT CTC CCC Combined
------------ ----------- --------- -----------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * * * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation.......................
------------ ----------- --------- -----------
Total common stock equity .............................
------------ ----------- --------- -----------
Long-term debt ........................................
Installment promissory notes payable ..................
------------ ----------- --------- -----------
Total Capitalization ....................................
------------ ----------- --------- -----------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities.................................
Other .................................................
------------ ----------- --------- -----------
Total Current Liabilities ...............................
------------ ----------- --------- -----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities.......................
Deferred revenue.......................................
Other .................................................
------------ ----------- --------- -----------
Total Other Liabilities and Deferred Credits ............
------------ ----------- --------- -----------
TOTAL CAPITALIZATION AND LIABILITIES ....................
============ =========== ========= ===========
</TABLE>
<TABLE>
<CAPTION>
Consolidating CCC
CAPITALIZATION AND LIABILITIES Entries Consolidated
----------- ----------
<S> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation.......................
----------- ----------
Total common stock equity .............................
----------- ----------
Long-term debt ........................................
Installment promissory notes payable ..................
----------- ----------
Total Capitalization ....................................
----------- ----------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities.................................
Other .................................................
----------- ----------
Total Current Liabilities ...............................
----------- ----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities.......................
Deferred revenue.......................................
Other .................................................
----------- ----------
Total Other Liabilities and Deferred Credits ............
----------- ----------
TOTAL CAPITALIZATION AND LIABILITIES ....................
=========== ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 95
F-1C (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CLG
ASSETS CLNG CLG Combined Entries Consolidated
------------ ------------ ------------ ------------- ------------
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * * *
Accumulated depreciation...........................
------------ ------------ ------------ ------------- ------------
Net Gas Utility and Other Plant ...................
------------ ------------ ------------ ------------- ------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------ ------------ ------------ ------------- ------------
Net Gas and Oil Producing Properties ..............
------------ ------------ ------------ ------------- ------------
Net Property, Plant, and Equipment ..................
------------ ------------ ------------ ------------- ------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
------------ ------------ ------------ ------------- ------------
Total Investments and Other Assets ..................
------------ ------------ ------------ ------------- ------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
------------ ------------ ------------ ------------- ------------
Total Investments in Subsidiaries ...................
------------ ------------ ------------ ------------- ------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------ ------------ ------------ ------------- ------------
Total Current Assets ................................
------------ ------------ ------------ ------------- ------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
------------ ------------ ------------ ------------- ------------
TOTAL ASSETS ........................................
============ ============ ============ ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 96
F-1C (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CLG
CAPITALIZATION AND LIABILITIES CLNG CLG Combined Entries Consolidated
------------ ------------ ------------ ------------- ------------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * * * * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation ......................
------------ ------------ ------------ ------------- ------------
Total common stock equity .............................
------------ ------------ ------------ ------------- ------------
Long-term debt ........................................
Installment promissory notes payable ..................
------------ ------------ ------------ ------------- ------------
Total Capitalization ....................................
------------ ------------ ------------ ------------- ------------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities ................................
Other..................................................
------------ ------------ ------------ ------------- ------------
Total Current Liabilities ...............................
------------ ------------ ------------ ------------- ------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities ......................
Deferred revenue.......................................
Other..................................................
------------ ------------ ------------ ------------- ------------
Total Other Liabilities and Deferred Credits ............
------------ ------------ ------------ ------------- ------------
TOTAL CAPITALIZATION AND LIABILITIES ....................
============ ============ ============ ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 97
F-1D (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
ASSETS CEM CPM CSP ECC
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
------------ ------------ ------------ ------------
Net Gas Utility and Other Plant ...................
------------ ------------ ------------ ------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------ ------------ ------------ ------------
Net Gas and Oil Producing Properties ..............
------------ ------------ ------------ ------------
Net Property, Plant, and Equipment ..................
------------ ------------ ------------ ------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
Total Investments and Other Assets ..................
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
------------ ------------ ------------ ------------
Total Investments in Subsidiaries ...................
------------ ------------ ------------ ------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds.................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------ ------------ ------------ ------------
Total Current Assets ................................
------------ ------------ ------------ ------------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
------------ ------------ ------------ ------------
TOTAL ASSETS ........................................
============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
Consolidating CES
ASSETS CES Combined Entries Consolidated
------------ ------------ ------------- ------------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
------------ ------------ ------------- ------------
Net Gas Utility and Other Plant ...................
------------ ------------ ------------- ------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------ ------------ ------------- ------------
Net Gas and Oil Producing Properties ..............
------------ ------------ ------------- ------------
Net Property, Plant, and Equipment ..................
------------ ------------ ------------- ------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
Total Investments and Other Assets ..................
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
------------ ------------ ------------- ------------
Total Investments in Subsidiaries ...................
------------ ------------ ------------- ------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds.................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------ ------------ ------------- ------------
Total Current Assets ................................
------------ ------------ ------------- ------------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
------------ ------------ ------------- ------------
TOTAL ASSETS ........................................
============ ============ ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 98
F-1D (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CAPITALIZATION AND LIABILITIES CEM CPM CSP ECC
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ..... * * * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation ......................
------------ ------------ ------------ ------------
Total common stock equity .............................
------------ ------------ ------------ ------------
Long-term debt ........................................
Installment promissory notes payable ..................
------------ ------------ ------------ ------------
Total Capitalization ....................................
------------ ------------ ------------ ------------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs ...............................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities ................................
Other .................................................
------------ ------------ ------------ ------------
Total Current Liabilities ...............................
------------ ------------ ------------ ------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities.......................
Deferred revenue.......................................
Other .................................................
------------ ------------ ------------ ------------
Total Other Liabilities and Deferred Credits ............
------------ ------------ ------------ ------------
TOTAL CAPITALIZATION AND LIABILITIES ....................
============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
Consolidating CES
CAPITALIZATION AND LIABILITIES CES Combined Entries Consolidated
------------ ------------ ------------- ------------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ..... * * * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation ......................
------------ ------------ ------------- ------------
Total common stock equity .............................
------------ ------------ ------------- ------------
Long-term debt ........................................
Installment promissory notes payable ..................
------------ ------------ ------------- ------------
Total Capitalization ....................................
------------ ------------ ------------- ------------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs ...............................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities ................................
Other .................................................
------------ ------------ ------------- ------------
Total Current Liabilities ...............................
------------ ------------ ------------- ------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities.......................
Deferred revenue.......................................
Other .................................................
------------ ------------ ------------- ------------
Total Other Liabilities and Deferred Credits ............
------------ ------------ ------------- ------------
TOTAL CAPITALIZATION AND LIABILITIES ....................
============ ============ ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 99
F-1E (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiaries
Consolidated Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
ASSETS CMC EN CNS
------------ ------------ ------------
<S> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * *
Accumulated depreciation...........................
------------ ------------ ------------
Net Gas Utility and Other Plant ...................
------------ ------------ ------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------ ------------ ------------
Net Gas and Oil Producing Properties ..............
------------ ------------ ------------
Net Property, Plant, and Equipment ..................
------------ ------------ ------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale...............................
Other .............................................
------------ ------------ ------------
Total Investments and Other Assets ..................
------------ ------------ ------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments..................................
------------ ------------ ------------
Total Investments in Subsidiaries ...................
------------ ------------ ------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds.................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets..................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------ ------------ ------------
Total Current Assets ................................
------------ ------------ ------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
------------ ------------ ------------
TOTAL ASSETS ........................................
============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
Consolidating CNS
ASSETS Combined Entries Consolidated
------------ ------------- ------------
<S> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * *
Accumulated depreciation...........................
------------ ------------- ------------
Net Gas Utility and Other Plant ...................
------------ ------------- ------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------ ------------- ------------
Net Gas and Oil Producing Properties ..............
------------ ------------- ------------
Net Property, Plant, and Equipment ..................
------------ ------------- ------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale...............................
Other .............................................
------------ ------------- ------------
Total Investments and Other Assets ..................
------------ ------------- ------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments..................................
------------ ------------- ------------
Total Investments in Subsidiaries ...................
------------ ------------- ------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds.................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets..................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------ ------------- ------------
Total Current Assets ................................
------------ ------------- ------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
------------ ------------- ------------
TOTAL ASSETS ........................................
============ ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 100
F-1E (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiaries
Consolidated Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CAPITALIZATION AND LIABILITIES CMC EN CNS
------------ ------------ ------------
<S> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) .... * * *
Subsidiaries - common stock .......................
Additional paid in capital ........................
Retained earnings .................................
Accumulated foreign currency translation adjustment
Unearned employee compensation ....................
------------ ------------ ------------
Total common stock equity ...........................
------------ ------------ ------------
Long-term debt ......................................
Installment promissory notes payable ................
------------ ------------ ------------
Total Capitalization ..................................
------------ ------------ ------------
Current Liabilities
Short-term debt......................................
Current maturities of L.T. debt......................
Accounts and drafts payable .........................
Intercompany notes and loans - current maturities....
Intercompany short-term loans .......................
Intercompany accounts payable .......................
Accrued taxes .......................................
Accrued interest.....................................
Estimated rate refunds ..............................
Estimated supplier obligations ......................
Overrecovered gas costs..............................
Transportation and exchange gas payable .............
Deferred income taxes ...............................
Regulatory liabilities...............................
Other ...............................................
------------ ------------ ------------
Total Current Liabilities .............................
------------ ------------ ------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ...................
Investment tax credits ..............................
Postretirement benefits other than pensions .........
Long-term regulatory liabilities ....................
Deferred revenue.....................................
Other ...............................................
------------ ------------ ------------
Total Other Liabilities and Deferred Credits ..........
------------ ------------ ------------
TOTAL CAPITALIZATION AND LIABILITIES ..................
============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
Consolidating CNS
CAPITALIZATION AND LIABILITIES Combined Entries Consolidated
------------ ------------- ------------
<S> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) .... * * *
Subsidiaries - common stock .......................
Additional paid in capital ........................
Retained earnings .................................
Accumulated foreign currency translation adjustment
Unearned employee compensation ....................
------------ ------------- ------------
Total common stock equity ...........................
------------ ------------- ------------
Long-term debt ......................................
Installment promissory notes payable ................
------------ ------------- ------------
Total Capitalization ..................................
------------ ------------- ------------
Current Liabilities
Short-term debt......................................
Current maturities of L.T. debt......................
Accounts and drafts payable .........................
Intercompany notes and loans - current maturities....
Intercompany short-term loans .......................
Intercompany accounts payable .......................
Accrued taxes .......................................
Accrued interest.....................................
Estimated rate refunds ..............................
Estimated supplier obligations ......................
Overrecovered gas costs..............................
Transportation and exchange gas payable .............
Deferred income taxes ...............................
Regulatory liabilities...............................
Other ...............................................
------------ ------------- ------------
Total Current Liabilities .............................
------------ ------------- ------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ...................
Investment tax credits ..............................
Postretirement benefits other than pensions .........
Long-term regulatory liabilities ....................
Deferred revenue.....................................
Other ...............................................
------------ ------------- ------------
Total Other Liabilities and Deferred Credits ..........
------------ ------------- ------------
TOTAL CAPITALIZATION AND LIABILITIES ..................
============ ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 101
F-1F (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Resources, Inc. and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
ASSETS CNR HH CU AD AL
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * * *
Accumulated depreciation...........................
------------ ------------ ------------ ------------ ------------
Net Gas Utility and Other Plant ...................
------------ ------------ ------------ ------------ ------------
Gas and oil producing properties, full cost method.
United states cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------ ------------ ------------ ------------ ------------
Net Gas and Oil Producing Properties ..............
------------ ------------ ------------ ------------ ------------
Net Property, Plant, and Equipment ..................
------------ ------------ ------------ ------------ ------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
------------ ------------ ------------ ------------ ------------
Total Investments and Other Assets ..................
------------ ------------ ------------ ------------ ------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
------------ ------------ ------------ ------------ ------------
Total Investments in Subsidiaries ...................
------------ ------------ ------------ ------------ ------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------ ------------ ------------ ------------ ------------
Total Current Assets ................................
------------ ------------ ------------ ------------ ------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
------------ ------------ ------------ ------------ ------------
TOTAL ASSETS ........................................
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
Consolidating CER
ASSETS CER Combined Entries Consolidated
------------ ------------ ------------- ------------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
------------ ------------ ------------- ------------
Net Gas Utility and Other Plant ...................
------------ ------------ ------------- ------------
Gas and oil producing properties, full cost method.
United states cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------ ------------ ------------- ------------
Net Gas and Oil Producing Properties ..............
------------ ------------ ------------- ------------
Net Property, Plant, and Equipment ..................
------------ ------------ ------------- ------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
------------ ------------ ------------- ------------
Total Investments and Other Assets ..................
------------ ------------ ------------- ------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
------------ ------------ ------------- ------------
Total Investments in Subsidiaries ...................
------------ ------------ ------------- ------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------ ------------ ------------- ------------
Total Current Assets ................................
------------ ------------ ------------- ------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
------------ ------------ ------------- ------------
TOTAL ASSETS ........................................
============ ============ ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 102
F-1F (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Resources, Inc. and Subsidiaries
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CAPITALIZATION AND LIABILITIES CNR HH CU AD AL
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * * * * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation ......................
------------ ------------ ------------ ------------ ------------
Total common stock equity .............................
------------ ------------ ------------ ------------ ------------
Long-term debt ........................................
Installment promissory notes payable ..................
------------ ------------ ------------ ------------ ------------
Total Capitalization ....................................
------------ ------------ ------------ ------------ ------------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities ................................
Other..................................................
------------ ------------ ------------ ------------ ------------
Total Current Liabilities ...............................
------------ ------------ ------------ ------------ ------------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ..............................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities ......................
Deferred revenue.......................................
Other..................................................
------------ ------------ ------------ ------------ ------------
Total Other Liabilities and Deferred Credits ............
------------ ------------ ------------ ------------ ------------
TOTAL CAPITALIZATION AND LIABILITIES ....................
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
Consolidating CER
CAPITALIZATION AND LIABILITIES CER Combined Entries Consolidated
------------ ------------ ------------- ------------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ....... * * * *
Subsidiaries - common stock ..........................
Additional paid in capital ...........................
Retained earnings ....................................
Accumulated foreign currency translation adjustment...
Unearned employee compensation .......................
------------ ------------ ------------- ------------
Total common stock equity ..............................
------------ ------------ ------------- ------------
Long-term debt .........................................
Installment promissory notes payable ...................
------------ ------------ ------------- ------------
Total Capitalization .....................................
------------ ------------ ------------- ------------
Current Liabilities
Short-term debt.........................................
Current maturities of L.T. debt.........................
Accounts and drafts payable ............................
Intercompany notes and loans - current maturities ......
Intercompany short-term loans ..........................
Intercompany accounts payable ..........................
Accrued taxes ..........................................
Accrued interest .......................................
Estimated rate refunds .................................
Estimated supplier obligations .........................
Overrecovered gas costs.................................
Transportation and exchange gas payable ................
Deferred income taxes ..................................
Regulatory liabilities .................................
Other...................................................
------------ ------------ ------------- ------------
Total Current Liabilities ................................
------------ ------------ ------------- ------------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ...............................
Investment tax credits .................................
Postretirement benefits other than pensions ............
Long-term regulatory liabilities .......................
Deferred revenue........................................
Other...................................................
------------ ------------ ------------- ------------
Total Other Liabilities and Deferred Credits .............
------------ ------------ ------------- ------------
TOTAL CAPITALIZATION AND LIABILITIES .....................
============ ============ ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 103
F-1G (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Pipeline Company and Subsidiary
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CPL
ASSETS CDW CPL Combined Entries Consolidated
------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * * *
Accumulated depreciation...........................
------------- ------------- ------------- ------------- -------------
Net Gas Utility and Other Plant ...................
------------- ------------- ------------- ------------- -------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------- ------------- ------------- ------------- -------------
Net Gas and Oil Producing Properties ..............
------------- ------------- ------------- ------------- -------------
Net Property, Plant, and Equipment ..................
------------- ------------- ------------- ------------- -------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
------------- ------------- ------------- ------------- -------------
Total Investments and Other Assets ..................
------------- ------------- ------------- ------------- -------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
------------- ------------- ------------- ------------- -------------
Total Investments in Subsidiaries ...................
------------- ------------- ------------- ------------- -------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------- ------------- ------------- ------------- -------------
Total Current Assets ................................
------------- ------------- ------------- ------------- -------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
------------- ------------- ------------- ------------- -------------
TOTAL ASSETS ........................................
============= ============= ============= ============= =============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 104
F-1G (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Pipeline Company and Subsidiary
Consolidating Balance Sheet as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CPL
CAPITALIZATION AND LIABILITIES CDW CPL Combined Entries Consolidated
------------- ------------- ------------- ------------- ------------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ....... * * * * *
Subsidiaries - common stock ..........................
Additional paid in capital ...........................
Retained earnings ....................................
Accumulated foreign currency translation adjustment...
Unearned employee compensation .......................
------------- ------------- ------------- ------------- ------------
Total common stock equity ..............................
------------- ------------- ------------- ------------- ------------
Long-term debt .........................................
Installment promissory notes payable ...................
------------- ------------- ------------- ------------- ------------
Total Capitalization .....................................
------------- ------------- ------------- ------------- ------------
Current Liabilities
Short-term debt.........................................
Current maturities of L.T. debt.........................
Accounts and drafts payable ............................
Intercompany notes and loans - current maturities ......
Intercompany short-term loans ..........................
Intercompany accounts payable ..........................
Accrued taxes ..........................................
Accrued interest .......................................
Estimated rate refunds .................................
Estimated supplier obligations .........................
Overrecovered gas costs.................................
Transportation and exchange gas payable ................
Deferred income taxes ..................................
Regulatory liabilities .................................
Other...................................................
------------- ------------- ------------- ------------- ------------
Total Current Liabilities ................................
------------- ------------- ------------- ------------- ------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ......................
Investment tax credits .................................
Postretirement benefits other than pensions ............
Long-term regulatory liabilities .......................
Deferred revenue........................................
Other...................................................
------------- ------------- ------------- ------------- ------------
Total Other Liabilities and Deferred Credits .............
------------- ------------- ------------- ------------- ------------
TOTAL CAPITALIZATION AND LIABILITIES .....................
============= ============= ============= ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 105
F-2 (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
-------------- -------------- -------------- --------------
<S> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
-------------- -------------- -------------- --------------
Net Gas Utility and Other Plant ...................
-------------- -------------- -------------- --------------
Gas and oil producing properties, full cost method..
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
-------------- -------------- -------------- --------------
Net Gas and Oil Producing Properties ..............
-------------- -------------- -------------- --------------
Net Property, Plant, and Equipment ..................
-------------- -------------- -------------- --------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
-------------- -------------- -------------- --------------
Total Investments and Other Assets ..................
-------------- -------------- -------------- --------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments..................................
-------------- -------------- -------------- --------------
Total Investments in Subsidiaries ...................
-------------- -------------- -------------- --------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs ..........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
-------------- -------------- -------------- --------------
Total Current Assets ................................
-------------- -------------- -------------- --------------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
-------------- -------------- -------------- --------------
TOTAL ASSETS ........................................
============== ============== ============== ==============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 106
F-2 (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet Entries as of December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
------------------ ------------------ ----------------- ------------------
<S> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares
outstanding) ................................ * * * *
Subsidiaries - common stock ..................
Additional paid in capital ...................
Retained earnings ............................
Accumulated foreign currency translation
adjustment..................................
Unearned employee compensation................
------------------ ------------------ ----------------- ------------------
Total common stock equity ......................
------------------ ------------------ ----------------- ------------------
Long-term debt .................................
Installment promissory notes payable ...........
------------------ ------------------ ----------------- ------------------
Total Capitalization .............................
------------------ ------------------ ----------------- ------------------
Current Liabilities
Short-term debt ................................
Debt obligations ...............................
Accounts and drafts payable ....................
Intercompany notes and loans - current
maturities ...................................
Intercompany short-term loans ..................
Intercompany accounts payable ..................
Accrued taxes ..................................
Accrued interest ...............................
Estimated rate refunds .........................
Estimated supplier obligations .................
Overrecovered gas costs ........................
Transportation and exchange gas payable ........
Deferred income taxes ..........................
Regulatory liabilities .........................
Other ..........................................
------------------ ------------------ ----------------- ------------------
Total Current Liabilities ........................
------------------ ------------------ ----------------- ------------------
Other Liabilities and Deferred Credits
Deferred income taxes - noncurrent..............
Investment tax credits .........................
Postretirement benefits other than pensions ....
Long-term regulatory liabilities ...............
Deferred revenue................................
Other ..........................................
------------------ ------------------ ----------------- ------------------
Total Other Liabilities and Deferred Credits .....
------------------ ------------------ ----------------- ------------------
TOTAL CAPITALIZATION AND LIABILITIES .............
================== ================== ================= ==================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 107
F-2A (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
---------------- ----------------- ---------------- ------------------
<S> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
---------------- ----------------- ---------------- ------------------
Net Gas Utility and Other Plant ...................
---------------- ----------------- ---------------- ------------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
---------------- ----------------- ---------------- ------------------
Net Gas and Oil Producing Properties ..............
---------------- ----------------- ---------------- ------------------
Net Property, Plant, and Equipment ..................
---------------- ----------------- ---------------- ------------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
---------------- ----------------- ---------------- ------------------
Total Investments and Other Assets ..................
---------------- ----------------- ---------------- ------------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
---------------- ----------------- ---------------- ------------------
Total Investments in Subsidiaries ...................
---------------- ----------------- ---------------- ------------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
---------------- ----------------- ---------------- ------------------
Total Current Assets ................................
---------------- ----------------- ---------------- ------------------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
---------------- ----------------- ---------------- ------------------
TOTAL ASSETS ........................................
================ ================= ================ ==================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 108
F-2A (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
CAPITALIZATION AND LIABILITIES Total Transactions Equity Adjustments
---------------- ----------------- ---------------- --------------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ...... * * * *
Subsidiaries - common stock .........................
Additional paid in capital ..........................
Retained earnings ...................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation.......................
---------------- ----------------- ---------------- --------------
Total common stock equity .............................
---------------- ----------------- ---------------- --------------
Long-term debt ........................................
Installment promissory notes payable ..................
---------------- ----------------- ---------------- --------------
Total Capitalization ....................................
---------------- ----------------- ---------------- --------------
Current Liabilities
Short-term debt........................................
Current maturities of L.T. debt........................
Accounts and drafts payable ...........................
Intercompany notes and loans - current maturities .....
Intercompany short-term loans .........................
Intercompany accounts payable .........................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Overrecovered gas costs................................
Transportation and exchange gas payable ...............
Deferred income taxes .................................
Regulatory liabilities.................................
Other .................................................
---------------- ----------------- ---------------- --------------
Total Current Liabilities ...............................
---------------- ----------------- ---------------- --------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent......................
Investment tax credits ................................
Postretirement benefits other than pensions ...........
Long-term regulatory liabilities......................
Deferred revenue.......................................
Other .................................................
---------------- ----------------- ---------------- --------------
Total Other Liabilities and Deferred Credits ............
---------------- ----------------- ---------------- --------------
TOTAL CAPITALIZATION AND LIABILITIES ....................
================ ================= ================ ==============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 109
F-2B (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Group Capital Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
ASSETS Total Transactions Equity Adjustments
------------------ ----------------- --------------- ---------------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
------------------ ----------------- --------------- ---------------
Net Gas Utility and Other Plant ...................
------------------ ----------------- --------------- ---------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------------ ----------------- --------------- ---------------
Net Gas and Oil Producing Properties ..............
------------------ ----------------- --------------- ---------------
Net Property, Plant, and Equipment ..................
------------------ ----------------- --------------- ---------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
------------------ ----------------- --------------- ---------------
Total Investments and Other Assets ..................
------------------ ----------------- --------------- ---------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
------------------ ----------------- --------------- ---------------
Total Investments in Subsidiaries ...................
------------------ ----------------- --------------- ---------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------------ ----------------- --------------- ---------------
Total Current Assets ................................
------------------ ----------------- --------------- ---------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
------------------ ----------------- --------------- ---------------
TOTAL ASSETS ........................................
================== ================= =============== ===============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 110
F-2B (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Group Capital Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consoliding
CAPITALIZATION AND LIABILITIES Total Transactions Equity Adjustments
-------------- ----------------- --------------- ---------------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ....... * * *
Subsidiaries - common stock ..........................
Additional paid in capital ...........................
Retained earnings ....................................
Accumulated foreign currency translation adjustment..
Unearned employee compensation .......................
-------------- ----------------- --------------- ---------------
Total common stock equity ..............................
-------------- ----------------- --------------- ---------------
Long-term debt .........................................
Installment promissory notes payable ...................
-------------- ----------------- --------------- ---------------
Total Capitalization .....................................
-------------- ----------------- --------------- ---------------
Current Liabilities
Short-term debt.........................................
Current maturities of L.T. debt.........................
Accounts and drafts payable ............................
Intercompany notes and loans - current maturities ......
Intercompany short-term loans ..........................
Intercompany accounts payable ..........................
Accrued taxes ..........................................
Accrued interest .......................................
Estimated rate refunds .................................
Estimated supplier obligations .........................
Overrecovered gas costs.................................
Transportation and exchange gas payable ................
Deferred income taxes ..................................
Regulatory liabilities .................................
Other ..................................................
-------------- ----------------- --------------- ---------------
Total Current Liabilities ................................
-------------- ----------------- --------------- ---------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ......................
Investment tax credits .................................
Postretirement benefits other than pensions ............
Long-term regulatory liabilities .......................
Deferred revenue........................................
Other ..................................................
-------------- ----------------- --------------- ---------------
Total Other Liabilities and Deferred Credits .............
-------------- ----------------- --------------- ---------------
TOTAL CAPITALIZATION AND LIABILITIES .....................
============== ================= =============== ===============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 111
F-2C (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
ASSETS Total Transactions Equity Adjustments
------------ ----------------- ----------------- -----------------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
------------ ----------------- ----------------- -----------------
Net Gas Utility and Other Plant ...................
------------ ----------------- ----------------- -----------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------ ----------------- ----------------- -----------------
Net Gas and Oil Producing Properties ..............
------------ ----------------- ----------------- -----------------
Net Property, Plant, and Equipment ..................
------------ ----------------- ----------------- -----------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
------------ ----------------- ----------------- -----------------
Total Investments and Other Assets ..................
------------ ----------------- ----------------- -----------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
------------ ----------------- ----------------- -----------------
Total Investments in Subsidiaries ...................
------------ ----------------- ----------------- -----------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds.................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------ ----------------- ----------------- -----------------
Total Current Assets ................................
------------ ----------------- ----------------- -----------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
------------ ----------------- ----------------- -----------------
TOTAL ASSETS ........................................
============ ================= ================= =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 112
F-2C (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
CAPITALIZATION AND LIABILITIES Total Transactions Equity Adjustments
------------ ----------------- ------------- -----------------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ....... * * * *
Subsidiaries - common stock ..........................
Additional paid in capital ...........................
Retained earnings ....................................
Accumulated foreign currency translation adjustment...
Unearned employee compensation .......................
------------ ----------------- ------------- -----------------
Total common stock equity ..............................
------------ ----------------- ------------- -----------------
Long-term debt .........................................
Installment promissory notes payable ...................
------------ ----------------- ------------- -----------------
Total Capitalization .....................................
------------ ----------------- ------------- -----------------
Current Liabilities
Short-term debt.........................................
Current maturities of L.T. debt.........................
Accounts and drafts payable ............................
Intercompany notes and loans - current maturities ......
Intercompany short-term loans ..........................
Intercompany accounts payable ..........................
Accrued taxes ..........................................
Accrued interest .......................................
Estimated rate refunds .................................
Estimated supplier obligations .........................
Overrecovered gas costs.................................
Transportation and exchange gas payable ................
Deferred income taxes ..................................
Regulatory liabilities .................................
Other...................................................
------------ ----------------- ------------- -----------------
Total Current Liabilities ................................
------------ ----------------- ------------- -----------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent.......................
Investment tax credits .................................
Postretirement benefits other than pensions ............
Long-term regulatory liabilities .......................
Deferred revenue........................................
Other...................................................
------------ ----------------- ------------- -----------------
Total Other Liabilities and Deferred Credits .............
------------ ----------------- ------------- -----------------
TOTAL CAPITALIZATION AND LIABILITIES .....................
============ ================= ============= =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 113
F-2D (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
------------ ----------------- ----------------- -------------------
<S> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
------------ ----------------- ----------------- -------------------
Net Gas Utility and Other Plant ...................
------------ ----------------- ----------------- -------------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------ ----------------- ----------------- -------------------
Net Gas and Oil Producing Properties ..............
------------ ----------------- ----------------- -------------------
Net Property, Plant, and Equipment ..................
------------ ----------------- ----------------- -------------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
------------ ----------------- ----------------- -------------------
Total Investments and Other Assets ..................
------------ ----------------- ----------------- -------------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
------------ ----------------- ----------------- -------------------
Total Investments in Subsidiaries ...................
------------ ----------------- ----------------- -------------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds.................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------ ----------------- ----------------- -------------------
Total Current Assets ................................
------------ ----------------- ----------------- -------------------
Deferred Charges ....................................
Long-term Regulatory Assets..........................
------------ ----------------- ----------------- -------------------
TOTAL ASSETS ........................................
============ ================= ================= ===================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 114
F-2D (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
------------- ----------------- ------------- --------------
<S> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ....... * * * *
Subsidiaries - common stock ..........................
Additional paid in capital ...........................
Retained earnings ....................................
Accumulated foreign currency translation adjustment...
Unearned employee compensation .......................
------------- ----------------- ------------- --------------
Total common stock equity ..............................
------------- ----------------- ------------- --------------
Long-term debt .........................................
Installment promissory notes payable ...................
------------- ----------------- ------------- --------------
Total Capitalization .....................................
------------- ----------------- ------------- --------------
Current Liabilities
Short-term debt.........................................
Current maturities of L.T. debt.........................
Accounts and drafts payable ............................
Intercompany notes and loans - current maturities ......
Intercompany short-term loans ..........................
Intercompany accounts payable ..........................
Accrued taxes ..........................................
Accrued interest .......................................
Estimated rate refunds .................................
Estimated supplier obligations .........................
Overrecovered gas costs ................................
Transportation and exchange gas payable ................
Deferred income taxes ..................................
Regulatory liabilities .................................
Other ..................................................
------------- ----------------- ------------- --------------
Total Current Liabilities ................................
------------- ----------------- ------------- --------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent.......................
Investment tax credits .................................
Postretirement benefits other than pensions ............
Long-term regulatory liabilities........................
Deferred revenue........................................
Other ..................................................
------------- ----------------- ------------- --------------
Total Other Liabilities and Deferred Credits .............
------------- ----------------- ------------- --------------
TOTAL CAPITALIZATION AND LIABILITIES .....................
============= ================= ============= ==============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 115
F-2E (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiaries
Consolidated Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
ASSETS Total Transactions Equity Adjustments
------------- ------------------ ------------------ ------------------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
------------- ------------------ ------------------ ------------------
Net Gas Utility and Other Plant ...................
------------- ------------------ ------------------ ------------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------- ------------------ ------------------ ------------------
Net Gas and Oil Producing Properties ..............
------------- ------------------ ------------------ ------------------
Net Property, Plant, and Equipment ..................
------------- ------------------ ------------------ ------------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale...............................
Other .............................................
------------- ------------------ ------------------ ------------------
Total Investments and Other Assets ..................
------------- ------------------ ------------------ ------------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments..................................
------------- ------------------ ------------------ ------------------
Total Investments in Subsidiaries ...................
------------- ------------------ ------------------ ------------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds.................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets..................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------- ------------------ ------------------ ------------------
Total Current Assets ................................
------------- ------------------ ------------------ ------------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
------------- ------------------ ------------------ ------------------
TOTAL ASSETS ........................................
============= ================== ================== ==================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 116
F-2E (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiaries
Consolidated Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ THOUSANDS)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
CAPITALIZATION AND LIABILITIES Total Transactions Equity Adjustments
------------- ------------------ ------------------ -------------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878) shares outstanding) ....... * * * *
Subsidiaries - common stock ...........................
Additional paid in capital ............................
Retained earnings .....................................
Accumulated foreign currency translation adjustment....
Unearned employee compensation ........................
------------- ------------------ ------------------ -------------
Total common stock equity ...............................
------------- ------------------ ------------------ -------------
Long-term debt ..........................................
Installment promissory notes payable ....................
------------- ------------------ ------------------ -------------
Total Capitalization .....................................
------------- ------------------ ------------------ -------------
Current Liabilities
Short-term debt..........................................
Current maturities of L.T. debt..........................
Accounts and drafts payable .............................
Intercompany notes and loans - current maturities........
Intercompany short-term loans ...........................
Intercompany accounts payable ...........................
Accrued taxes ...........................................
Accrued interest.........................................
Estimated rate refunds ..................................
Estimated supplier obligations ..........................
Overrecoverd gas costs...................................
Transportation and exchange gas payable .................
Deferred income taxes ...................................
Regulatory liabilities...................................
Other ...................................................
------------- ------------------ ------------------ -------------
Total Current Liabilities .................................
------------- ------------------ ------------------ -------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent .......................
Investment tax credits ..................................
Postretirement benefits other than pensions .............
Long-term regulatory liabilities ........................
Deferred revenue.........................................
Other ...................................................
------------- ------------------ ------------------ -------------
Total Other Liabilities and Deferred Credits ..............
------------- ------------------ ------------------ -------------
TOTAL CAPITALIZATION AND LIABILITIES ......................
============= ================== ================== =============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 117
F-2F (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Resources, Inc. and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
ASSETS Total Transactions Equity Adjustments
---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
---------------- ---------------- ---------------- ----------------
Net Gas Utility and Other Plant ...................
---------------- ---------------- ---------------- ----------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
---------------- ---------------- ---------------- ----------------
Net Gas and Oil Producing Properties ..............
---------------- ---------------- ---------------- ----------------
Net Property, Plant, and Equipment ..................
---------------- ---------------- ---------------- ----------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
---------------- ---------------- ---------------- ----------------
Total Investments and Other Assets ..................
---------------- ---------------- ---------------- ----------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
---------------- ---------------- ---------------- ----------------
Total Investments in Subsidiaries ...................
---------------- ---------------- ---------------- ----------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds.................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
---------------- ---------------- ---------------- ----------------
Total Current Assets ................................
---------------- ---------------- ---------------- ----------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
---------------- ---------------- ---------------- ----------------
TOTAL ASSETS ........................................
================ ================ ================ ================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 118
F-2F (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Resources, Inc. and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
CAPITALIZATION AND LIABILITIES Total Transactions Equity Adjustments
---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ....... * * * *
Subsidiaries - common stock ..........................
Additional paid in capital ...........................
Retained earnings ....................................
Accumulated foreign currency translation adjustment...
Unearned employee compensation .......................
---------------- ---------------- ---------------- ----------------
Total common stock equity ..............................
---------------- ---------------- ---------------- ----------------
Long-term debt .........................................
Installment promissory notes payable ...................
---------------- ---------------- ---------------- ----------------
Total Capitalization .....................................
---------------- ---------------- ---------------- ----------------
Current Liabilities
Short-term debt.........................................
Current maturities of L.T. debt.........................
Accounts and drafts payable ............................
Intercompany notes and loans - current maturities ......
Intercompany short-term loans ..........................
Intercompany accounts payable ..........................
Accrued taxes ..........................................
Accrued interest .......................................
Estimated rate refunds .................................
Estimated supplier obligations .........................
Overrecovered gas costs.................................
Transportation and exchange gas payable ................
Deferred income taxes ..................................
Regulatory liabilities .................................
Other...................................................
---------------- ---------------- ---------------- ----------------
Total Current Liabilities ................................
---------------- ---------------- ---------------- ----------------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ...............................
Investment tax credits .................................
Postretirement benefits other than pensions ............
Long-term regulatory liabilities .......................
Deferred revenue........................................
Other...................................................
---------------- ---------------- ---------------- ----------------
Total Other Liabilities and Deferred Credits .............
---------------- ---------------- ---------------- ----------------
TOTAL CAPITALIZATION AND LIABILITIES .....................
================ ================ ================ ================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 119
F-2G (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Pipeline Company and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
ASSETS Total Transactions Equity Adjustments
------------ ----------------- ----------------- -----------------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... * * * *
Accumulated depreciation...........................
------------ ----------------- ----------------- -----------------
Net Gas Utility and Other Plant ...................
------------ ----------------- ----------------- -----------------
Gas and oil producing properties, full cost method.
United States cost center........................
Canadian cost center.............................
Accumulated depletion .............................
------------ ----------------- ----------------- -----------------
Net Gas and Oil Producing Properties ..............
------------ ----------------- ----------------- -----------------
Net Property, Plant, and Equipment ..................
------------ ----------------- ----------------- -----------------
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
------------ ----------------- ----------------- -----------------
Total Investments and Other Assets ..................
------------ ----------------- ----------------- -----------------
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
------------ ----------------- ----------------- -----------------
Total Investments in Subsidiaries ...................
------------ ----------------- ----------------- -----------------
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds.................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Underrecovered gas costs...........................
Deferred property tax..............................
Exchange gas receivable............................
Other .............................................
------------ ----------------- ----------------- -----------------
Total Current Assets ................................
------------ ----------------- ----------------- -----------------
Deferred Charges ....................................
Long-term Regulatory Assets .........................
------------ ----------------- ----------------- -----------------
TOTAL ASSETS ........................................
============ ================= ================= =================
</TABLE>
*CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 120
F-2G (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Pipeline Company and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
CAPITALIZATION AND LIABILITIES Total Transactions Equity Adjustments
----------- ----------------- ------------ -----------------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (83,511,878 shares outstanding) ....... * * * *
Subsidiaries - common stock ..........................
Additional paid in capital ...........................
Retained earnings ....................................
Accumulated foreign currency translation adjustment...
Unearned employee compensation .......................
----------- ----------------- ------------ -----------------
Total common stock equity ..............................
----------- ----------------- ------------ -----------------
Long-term debt .........................................
Installment promissory notes payable ...................
----------- ----------------- ------------ -----------------
Total Capitalization .....................................
----------- ----------------- ------------ -----------------
Current Liabilities
Short-term debt.........................................
Current maturities of L.T. debt.........................
Accounts and drafts payable ............................
Intercompany notes and loans - current maturities ......
Intercompany short-term loans ..........................
Intercompany accounts payable ..........................
Accrued taxes ..........................................
Accrued interest .......................................
Estimated rate refunds .................................
Estimated supplier obligations .........................
Overrecovered gas costs.................................
Transportation and exchange gas payable ................
Deferred income taxes ..................................
Regulatory liabilities .................................
Other...................................................
----------- ----------------- ------------ -----------------
Total Current Liabilities ................................
----------- ----------------- ------------ -----------------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ......................
Investment tax credits .................................
Postretirement benefits other than pensions ............
Long-term regulatory liabilities .......................
Deferred revenue........................................
Other...................................................
----------- ----------------- ------------ -----------------
Total Other Liabilities and Deferred Credits .............
----------- ----------------- ------------ -----------------
TOTAL CAPITALIZATION AND LIABILITIES .....................
=========== ================= ============ =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 121
F-3 (1 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 F-3 F-3 F-3
Page 2 Page 3 Page 4 Page 5
----------------- ----------------- ----------------- ----------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales ............................. * * * *
Less: Products purchased.................
----------------- ----------------- ----------------- ----------------
Gross Margin..............................
Transportation............................
Production gas sales......................
Other ....................................
----------------- ----------------- ----------------- ----------------
Total Net Revenues..........................
Operating Expenses
Operation ................................
Maintenance ..............................
Depreciation and depletion ...............
Other taxes ..............................
----------------- ----------------- ----------------- ----------------
Total Operating Expenses ...................
----------------- ----------------- ----------------- ----------------
Operating Income (Loss) ....................
----------------- ----------------- ----------------- ----------------
Other Income (Deductions)
Interest income and other, net ...........
Interest expense and related charges .....
----------------- ----------------- ----------------- ----------------
Total Other Income (Deductions) ............
----------------- ----------------- ----------------- ----------------
Income (Loss) before Income Taxes...........
Income Taxes ...............................
----------------- ----------------- ----------------- ----------------
Net Income (Loss) ..........................
================= ================= ================= ================
<CAPTION>
Consolidating
Combined Entries Consolidated
---------------- ----------------- -----------------
<S> <C> <C> <C>
Net Revenues
Energy sales ............................. * * 5,669,451
Less: Products purchased................. 4,654,010
---------------- ----------------- -----------------
Gross Margin.............................. 1,015,441
Transportation............................ 557,514
Production gas sales...................... 113,936
Other .................................... 210,184
---------------- ----------------- -----------------
Total Net Revenues.......................... 1,897,075
Operating Expenses
Operation ................................ 810,064
Maintenance .............................. 91,465
Depreciation and depletion ............... 235,226
Other taxes .............................. 220,280
---------------- ----------------- -----------------
Total Operating Expenses ................... 1,357,035
---------------- ----------------- -----------------
Operating Income (Loss) .................... 540,040
---------------- ----------------- -----------------
Other Income (Deductions)
Interest income and other, net ........... 13,389
Interest expense and related charges ..... (152,400)
---------------- ----------------- -----------------
Total Other Income (Deductions) ............ (139,011)
---------------- ----------------- -----------------
Income (Loss) before Income Taxes........... 401,029
Income Taxes ............................... 131,785
---------------- ----------------- -----------------
Net Income (Loss) .......................... 269,244
================ ================= =================
</TABLE>
*CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 122
F-3 (2 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CER (a) TCO CGT
----------------- ----------------- -----------------
<S> <C> <C> <C>
Net Revenues
Energy sales .......................................... - 383 -
Less: Products purchased ............................. - 383 -
----------------- ----------------- -----------------
Gross Margin .......................................... - - -
Transportation ........................................ - 485,440 135,010
Production gas sales .................................. 113,936 - -
Other ................................................. 13,587 211,202 7,692
----------------- ----------------- -----------------
Total Net Revenues ...................................... 127,523 696,642 142,702
----------------- ----------------- -----------------
Operating Expenses
Operation ............................................. 43,103 255,620 55,905
Maintenance ........................................... 1,467 38,427 9,638
Depreciation and depletion ............................ 36,536 82,325 19,507
Other taxes ........................................... 9,200 44,655 7,211
----------------- ----------------- -----------------
Total Operating Expenses ................................ 90,306 421,027 92,261
Operating Income (Loss) ................................. 37,217 275,615 50,441
----------------- ----------------- -----------------
Other Income (Deductions)
Interest income and other, net ........................ * 8,511 925
Interest expense and related charges .................. (46,995) (5,242)
----------------- ----------------- -----------------
Total Other Income (Deductions) ......................... (38,484) (4,317)
----------------- ----------------- -----------------
Income (Loss) before Income Taxes........................ 237,131 46,124
Income Taxes ............................................ 80,795 17,026
----------------- ----------------- -----------------
Net Income (Loss) ....................................... 156,336 29,098
================= ================= =================
<CAPTION>
F-3 Page 2
CLG (a) CKY Total
---------------- ---------------- -----------------
<S> <C> <C> <C>
Net Revenues
Energy sales .......................................... * 137,474 *
Less: Products purchased ............................. 85,719
---------------- ---------------- -----------------
Gross Margin .......................................... 51,755
Transportation ........................................ 8,359
Production gas sales .................................. -
Other ................................................. 305
---------------- ---------------- -----------------
Total Net Revenues ...................................... 60,419
---------------- ---------------- -----------------
Operating Expenses
Operation ............................................. 25,613
Maintenance ........................................... 2,434
Depreciation and depletion ............................ 7,463
Other taxes ........................................... 2,486
---------------- ---------------- -----------------
Total Operating Expenses ................................ 37,996
Operating Income (Loss) ................................. 22,423
---------------- ---------------- -----------------
Other Income (Deductions)
Interest income and other, net ........................ 651
Interest expense and related charges .................. (4,462)
---------------- ---------------- -----------------
Total Other Income (Deductions) ......................... (3,811)
---------------- ---------------- -----------------
Income (Loss) before Income Taxes........................ 18,612
Income Taxes ............................................ 5,115
---------------- ---------------- -----------------
Net Income (Loss) ....................................... 13,497
================ ================ =================
</TABLE>
(a) CER includes five subsidiaries and CLG include one subsidiary as noted in
Item 1. Consolidating financial statements of CER and CLG are presented
herewith in Item 10, Exhibits F-1F through F-6F and F-1C through F-6C,
respectively.
*CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 123
F-3 (3 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
COH CMD CPA
----------------- ----------------- -----------------
<S> <C> <C> <C>
Net Revenues
Energy sales .......................................... 963,484 36,176 352,581
Less: Products purchased ............................. 596,261 20,721 214,525
----------------- ----------------- -----------------
Gross Margin .......................................... 367,223 15,455 138,056
Transportation ........................................ 100,935 3,800 38,353
Production gas sales .................................. - - -
Other ................................................. 27,593 82 790
----------------- ----------------- -----------------
Total Net Revenues ...................................... 495,751 19,337 177,199
----------------- ----------------- -----------------
Operating Expenses
Operation ............................................. 194,060 7,366 84,629
Maintenance ........................................... 18,525 1,148 8,759
Depreciation and depletion ............................ 46,942 2,191 15,011
Other taxes ........................................... 117,108 2,226 21,389
----------------- ----------------- -----------------
Total Operating Expenses ................................ 376,635 12,931 129,788
----------------- ----------------- -----------------
Operating Income (Loss) ................................. 119,116 6,406 47,411
----------------- ----------------- -----------------
Other Income (Deductions)
Interest income and other, net ........................ 1,322 45 (265)
Interest expense and related charges .................. (29,095) (1,380) (13,289)
----------------- ----------------- -----------------
Total Other Income (Deductions) ......................... (27,773) (1,335) (13,554)
----------------- ----------------- -----------------
Income (Loss) before Income Taxes........................ 91,343 5,071 33,857
Income Taxes ............................................ 32,398 1,684 12,445
----------------- ----------------- -----------------
Net Income (Loss) ....................................... 58,945 3,387 21,412
================= ================= =================
<CAPTION>
F-3 Page 3
CGV CG Total
---------------- ---------------- -----------------
<S> <C> <C> <C>
Net Revenues
Energy sales .......................................... 162,020 * *
Less: Products purchased ............................. 88,234
---------------- ---------------- -----------------
Gross Margin .......................................... 73,786
Transportation ........................................ 14,674
Production gas sales .................................. -
Other ................................................. 2,212
---------------- ---------------- -----------------
Total Net Revenues ...................................... 90,672
---------------- ---------------- -----------------
Operating Expenses
Operation ............................................. 37,245
Maintenance ........................................... 5,866
Depreciation and depletion ............................ 10,551
Other taxes ........................................... 9,074
---------------- ---------------- -----------------
Total Operating Expenses ................................ 62,736
---------------- ---------------- -----------------
Operating Income (Loss) ................................. 27,936
---------------- ---------------- -----------------
Other Income (Deductions)
Interest income and other, net ........................ 880
Interest expense and related charges .................. (9,357)
---------------- ---------------- -----------------
Total Other Income (Deductions) ......................... (8,477)
---------------- ---------------- -----------------
Income (Loss) before Income Taxes........................ 19,459
Income Taxes ............................................ 6,730
---------------- ---------------- -----------------
Net Income (Loss) ....................................... 12,729
================ ================ =================
</TABLE>
*CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 124
F-3 (4 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CS CIC CES (a)
----------------- ----------------- -----------------
<S> <C> <C> <C>
Net Revenues
Energy sales .......................................... * * *
Less: Products purchased..............................
----------------- ----------------- -----------------
Gross Margin...........................................
Transportation.........................................
Production gas sales...................................
Other .................................................
----------------- ----------------- -----------------
Total Net Revenues.......................................
----------------- ----------------- -----------------
Operating Expenses
Operation .............................................
Maintenance ...........................................
Depreciation and depletion ............................
Other taxes ...........................................
----------------- ----------------- -----------------
Total Operating Expenses ................................
----------------- ----------------- -----------------
Operating Income (Loss) .................................
----------------- ----------------- -----------------
Other Income (Deductions)
Interest income and other, net ........................
Interest expense and related charges ..................
----------------- ----------------- -----------------
Total Other Income (Deductions) .........................
----------------- ----------------- -----------------
Income (Loss) before Income Taxes........................
Income Taxes ............................................
----------------- ----------------- -----------------
Net Income (Loss) .......................................
================= ================= =================
<CAPTION>
F-3 Page 4
CPC CEC (a) Total
---------------- ---------------- -----------------
<S> <C> <C> <C>
Net Revenues
Energy sales .......................................... * * *
Less: Products purchased..............................
---------------- ---------------- -----------------
Gross Margin...........................................
Transportation.........................................
Production gas sales...................................
Other .................................................
---------------- ---------------- -----------------
Total Net Revenues.......................................
---------------- ---------------- -----------------
Operating Expenses
Operation .............................................
Maintenance ...........................................
Depreciation and depletion ............................
Other taxes ...........................................
---------------- ---------------- -----------------
Total Operating Expenses ................................
---------------- ---------------- -----------------
Operating Income (Loss) .................................
---------------- ---------------- -----------------
Other Income (Deductions)
Interest income and other, net ........................
Interest expense and related charges ..................
---------------- ---------------- -----------------
Total Other Income (Deductions) .........................
---------------- ---------------- -----------------
Income (Loss) before Income Taxes........................
Income Taxes ............................................
---------------- ---------------- -----------------
Net Income (Loss) .......................................
================ ================ =================
</TABLE>
(a) CES includes four subsidiaries and CEC includes eleven subsidiaries as
noted in Item 1. Consolidating financial statements of CES and CEC are
presented herewith in Item 10, Exhibits F-1D through F-6D and F-1A through
F-6A, respectively.
*CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 125
F-3 (5 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 Page 5
CCC (a) CAT CNS (a) CPL (a) Total
----------------- ----------------- ----------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C>
Net Revenues
Energy sales .................. * * * * *
Less: Products purchased......
----------------- ----------------- ----------------- ---------------- ----------------
Gross Margin...................
Transportation.................
Production gas sales...........
Other .........................
----------------- ----------------- ----------------- ---------------- ----------------
Total Net Revenues...............
----------------- ----------------- ----------------- ---------------- ----------------
Operating Expenses
Operation .....................
Maintenance ...................
Depreciation and depletion ....
Other taxes ...................
----------------- ----------------- ----------------- ---------------- ----------------
Total Operating Expenses ........
----------------- ----------------- ----------------- ---------------- ----------------
Operating Income (Loss) .........
----------------- ----------------- ----------------- ---------------- ----------------
Other Income (Deductions)
Interest income and other, net
Interest expense and related
charges .....................
----------------- ----------------- ----------------- ---------------- ----------------
Total Other Income (Deductions) .
----------------- ----------------- ----------------- ---------------- ----------------
Income (Loss) before Income Taxes
Income Taxes ....................
----------------- ----------------- ----------------- ---------------- ----------------
Net Income (Loss) ...............
================= ================= ================= ================ ================
</TABLE>
(a) Both CCC and CNS include two subsidiaries while CPL includes one subsidiary
as noted in Item 1. Consolidating financial statements of CCC, CNS and CPL are
presented herewith in Item 10, Exhibits F-1B through F-6B and F-1E through
F-6E, respectively.
*CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 126
F-3A (1 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3A F-3A Consolidating CEC
Page 2 Page 3 Combined Entries Consolidated
---------------- ----------------- ---------------- ------------------ -----------------
<S> <C> <C> <C> <C> <C>
Net Revenues
Energy sales ....................... * * * * *
Less: Products purchased ...........
---------------- ----------------- ---------------- ------------------ -----------------
Gross Margin .......................
Transportation .....................
Production gas sales ...............
Other ..............................
---------------- ----------------- ---------------- ------------------ -----------------
Total Net Revenues ...................
---------------- ----------------- ---------------- ------------------ -----------------
Operating Expenses
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
---------------- ----------------- ---------------- ------------------ -----------------
Total Operating Expenses .............
---------------- ----------------- ---------------- ------------------ -----------------
Operating Income (Loss) ..............
---------------- ----------------- ---------------- ------------------ -----------------
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related
charges ..........................
---------------- ----------------- ---------------- ------------------ -----------------
Total Other Income (Deductions) ......
---------------- ----------------- ---------------- ------------------ -----------------
Income (Loss) before Income Taxes.....
Income Taxes .........................
---------------- ----------------- ---------------- ------------------ -----------------
Net Income (Loss) ....................
================ ================= ================ ================== =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 127
F-3A (2 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CBG CBL CGG CGP
---------------- ----------------- ---------------- ------------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales .......................................... * * * *
Less: Products purchased ..............................
---------------- ----------------- ---------------- ------------------
Gross Margin ..........................................
Transportation ........................................
Production gas sales ..................................
Other .................................................
---------------- ----------------- ---------------- ------------------
Total Net Revenues ......................................
---------------- ----------------- ---------------- ------------------
Operating Expenses
Operation .............................................
Maintenance ...........................................
Depreciation and depletion ............................
Other taxes ...........................................
---------------- ----------------- ---------------- ------------------
Total Operating Expenses ................................
---------------- ----------------- ---------------- ------------------
Operating Income (Loss) .................................
---------------- ----------------- ---------------- ------------------
Other Income (Deductions)
Interest income and other, net ........................
Interest expense and related charges ..................
---------------- ----------------- ---------------- ------------------
Total Other Income (Deductions) .........................
---------------- ----------------- ---------------- ------------------
Income (Loss) before Income Taxes........................
Income Taxes ............................................
---------------- ----------------- ---------------- ------------------
Net Income (Loss) .......................................
================ ================= ================ ==================
<CAPTION>
F-3A Page 2
CLP CEC Total
----------------- ----------------- ----------------
<S> <C> <C> <C>
Net Revenues
Energy sales .......................................... * * *
Less: Products purchased ..............................
----------------- ----------------- ----------------
Gross Margin ..........................................
Transportation ........................................
Production gas sales ..................................
Other .................................................
----------------- ----------------- ----------------
Total Net Revenues ......................................
----------------- ----------------- ----------------
Operating Expenses
Operation .............................................
Maintenance ...........................................
Depreciation and depletion ............................
Other taxes ...........................................
----------------- ----------------- ----------------
Total Operating Expenses ................................
----------------- ----------------- ----------------
Operating Income (Loss) .................................
----------------- ----------------- ----------------
Other Income (Deductions)
Interest income and other, net ........................
Interest expense and related charges ..................
----------------- ----------------- ----------------
Total Other Income (Deductions) .........................
----------------- ----------------- ----------------
Income (Loss) before Income Taxes........................
Income Taxes ............................................
----------------- ----------------- ----------------
Net Income (Loss) .......................................
================= ================= ================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 128
F-3A (3 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CVG CVL CRL CEH
---------------- ----------------- ---------------- ------------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales .......................................... * * * *
Less: Products purchased ..............................
---------------- ----------------- ---------------- ------------------
Gross Margin ..........................................
Transportation ........................................
Production gas sales ..................................
Other .................................................
---------------- ----------------- ---------------- ------------------
Total Net Revenues ......................................
---------------- ----------------- ---------------- ------------------
Operating Expenses
Operation .............................................
Maintenance ...........................................
Depreciation and depletion ............................
Other taxes ...........................................
---------------- ----------------- ---------------- ------------------
Total Operating Expenses ................................
---------------- ----------------- ---------------- ------------------
Operating Income (Loss) .................................
---------------- ----------------- ---------------- ------------------
Other Income (Deductions)
Interest income and other, net ........................
Interest expense and related charges ..................
---------------- ----------------- ---------------- ------------------
Total Other Income (Deductions) .........................
---------------- ----------------- ---------------- ------------------
Income (Loss) before Income Taxes........................
Income Taxes ............................................
---------------- ----------------- ---------------- ------------------
Net Income (Loss) .......................................
================ ================= ================ ==================
<CAPTION>
F-3A Page 3
CEL CGR Total
----------------- ----------------- ----------------
<S> <C> <C> <C>
Net Revenues
Energy sales .......................................... * * *
Less: Products purchased ..............................
----------------- ----------------- ----------------
Gross Margin ..........................................
Transportation ........................................
Production gas sales ..................................
Other .................................................
----------------- ----------------- ----------------
Total Net Revenues ......................................
----------------- ----------------- ----------------
Operating Expenses
Operation .............................................
Maintenance ...........................................
Depreciation and depletion ............................
Other taxes ...........................................
----------------- ----------------- ----------------
Total Operating Expenses ................................
----------------- ----------------- ----------------
Operating Income (Loss) .................................
----------------- ----------------- ----------------
Other Income (Deductions)
Interest income and other, net ........................
Interest expense and related charges ..................
----------------- ----------------- ----------------
Total Other Income (Deductions) .........................
----------------- ----------------- ----------------
Income (Loss) before Income Taxes........................
Income Taxes ............................................
----------------- ----------------- ----------------
Net Income (Loss) .......................................
================= ================= ================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 129
F-3B (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Group Capital Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
TGT CTC CCC
------------------ ------------------------ ----------------------
<S> <C> <C> <C>
Net Revenues
Energy sales .............................................. * * *
Less: Products purchased ..................................
------------------ ------------------------ ----------------------
Gross Margin ..............................................
Transportation ............................................
Production gas sales ......................................
Other .....................................................
------------------ ------------------------ ----------------------
Total Net Revenues ..........................................
------------------ ------------------------ ----------------------
Operating Expenses
Operation .................................................
Maintenance ...............................................
Depreciation and depletion ................................
Other taxes ...............................................
------------------ ------------------------ ----------------------
Total Operating Expenses ....................................
------------------ ------------------------ ----------------------
Operating Income (Loss) .....................................
------------------ ------------------------ ----------------------
Other Income (Deductions)
Interest income and other, net ............................
Interest expense and related charges ......................
------------------ ------------------------ ----------------------
Total Other Income (Deductions) .............................
------------------ ------------------------ ----------------------
Income (Loss) before Income Taxes ...........................
Income Taxes ................................................
------------------ ------------------------ ----------------------
Net Income (Loss) ...........................................
================== ======================== ======================
<CAPTION>
Consolidating CCC
Combined Entries Consolidated
------------------- ------------------------- ---------------------
<S> <C> <C> <C>
Net Revenues
Energy sales .............................................. * * *
Less: Products purchased ..................................
------------------- ------------------------- ---------------------
Gross Margin ..............................................
Transportation ............................................
Production gas sales ......................................
Other .....................................................
------------------- ------------------------- ---------------------
Total Net Revenues ..........................................
------------------- ------------------------- ---------------------
Operating Expenses
Operation .................................................
Maintenance ...............................................
Depreciation and depletion ................................
Other taxes ...............................................
------------------- ------------------------- ---------------------
Total Operating Expenses ....................................
------------------- ------------------------- ---------------------
Operating Income (Loss) .....................................
------------------- ------------------------- ---------------------
Other Income (Deductions)
Interest income and other, net ............................
Interest expense and related charges ......................
------------------- ------------------------- ---------------------
Total Other Income (Deductions) .............................
------------------- ------------------------- ---------------------
Income (Loss) before Income Taxes ...........................
Income Taxes ................................................
------------------- ------------------------- ---------------------
Net Income (Loss) ...........................................
=================== ========================= =====================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 130
F-3C (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CLG
CLNG CLG Combined Entries Consolidated
----------------- ----------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C> <C>
Net Revenues
Energy sales ................... * * * * *
Less: Products purchased .......
----------------- ----------------- ----------------- ----------------- -----------------
Gross Margin ...................
Transportation .................
Production gas sales ...........
Other...........................
----------------- ----------------- ----------------- ----------------- -----------------
Total Net Revenues ...............
----------------- ----------------- ----------------- ----------------- -----------------
Operating Expenses
Operation ......................
Maintenance ....................
Depreciation and depletion .....
Other taxes ....................
----------------- ----------------- ----------------- ----------------- -----------------
Total Operating Expenses .........
----------------- ----------------- ----------------- ----------------- -----------------
Operating Income (Loss) ..........
----------------- ----------------- ----------------- ----------------- -----------------
Other Income (Deductions)
Interest income and other, net .
Interest expense and related
charges ......................
----------------- ----------------- ----------------- ----------------- -----------------
Total Other Income (Deductions) ..
----------------- ----------------- ----------------- ----------------- -----------------
Income (Loss) before Income Taxes
Income Taxes .....................
----------------- ----------------- ----------------- ----------------- -----------------
Net Income (Loss) ................
================= ================= ================= ================= =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 131
F-3D (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CEM CPM CSP ECC
----------------- ----------------- ----------------- -------------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales .............................. * * * *
Less: Products purchased ..................
----------------- ----------------- ----------------- -------------------
Gross Margin ..............................
Transportation ............................
Production gas sales ......................
Other......... ............................
----------------- ----------------- ----------------- -------------------
Total Net Revenues ..........................
----------------- ----------------- ----------------- -------------------
Operating Expenses
Operation ................................
Maintenance ..............................
Depreciation and depletion ...............
Other taxes ..............................
----------------- ----------------- ----------------- -------------------
Total Operating Expenses ...................
----------------- ----------------- ----------------- -------------------
Operating Income (Loss) ....................
----------------- ----------------- ----------------- -------------------
Other Income (Deductions)
Interest income and other, net ...........
Interest expense and related charges .....
----------------- ----------------- ----------------- -------------------
Total Other Income (Deductions) ............
----------------- ----------------- ----------------- -------------------
Income (Loss) before Income Taxes ..........
Income Taxes ...............................
----------------- ----------------- ----------------- -------------------
Net Income (Loss) ..........................
================= ================= ================= ===================
<CAPTION>
Consolidating CES
CES Combined Entries Consolidated
------------------ ----------------- ----------------- -----------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales .............................. * * * *
Less: Products purchased ..................
------------------ ----------------- ----------------- -----------------
Gross Margin ..............................
Transportation ............................
Production gas sales ......................
Other......... ............................
------------------ ----------------- ----------------- -----------------
Total Net Revenues ..........................
------------------ ----------------- ----------------- -----------------
Operating Expenses
Operation ................................
Maintenance ..............................
Depreciation and depletion ...............
Other taxes ..............................
------------------ ----------------- ----------------- -----------------
Total Operating Expenses ...................
------------------ ----------------- ----------------- -----------------
Operating Income (Loss) ....................
------------------ ----------------- ----------------- -----------------
Other Income (Deductions)
Interest income and other, net ...........
Interest expense and related charges .....
------------------ ----------------- ----------------- -----------------
Total Other Income (Deductions) ............
------------------ ----------------- ----------------- -----------------
Income (Loss) before Income Taxes ..........
Income Taxes ...............................
------------------ ----------------- ----------------- -----------------
Net Income (Loss) ..........................
================== ================= ================= =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 132
F-3E (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CMC EN CNS
------------------ ------------------ ------------------
<S> <C> <C> <C>
Net Revenues
Energy sales .............................................. * * *
Less: Products purchased ..................................
------------------ ------------------ ------------------
Gross Margin ..............................................
Transportation ............................................
Production gas sales ......................................
Other .....................................................
------------------ ------------------ ------------------
Total Net Revenues ..........................................
------------------ ------------------ ------------------
Operating Expenses
Operation .................................................
Maintenance ...............................................
Depreciation and depletion ................................
Other taxes ...............................................
------------------ ------------------ ------------------
Total Operating Expenses ....................................
------------------ ------------------ ------------------
Operating Income (Loss) .....................................
------------------ ------------------ ------------------
Other Income (Deductions)
Interest income and other, net ............................
Interest expense and related charges ......................
------------------ ------------------ ------------------
Total Other Income (Deductions) .............................
------------------ ------------------ ------------------
Income (Loss) before Income Taxes............................
Income Taxes ................................................
------------------ ------------------ ------------------
Net Income (Loss) ...........................................
================== ================== ==================
<CAPTION>
Consolidating CNS
Combined Entries Consolidated
------------------ ----------------- ------------------
<S> <C> <C> <C>
Net Revenues
Energy sales .............................................. * * *
Less: Products purchased ..................................
------------------ ----------------- ------------------
Gross Margin ..............................................
Transportation ............................................
Production gas sales ......................................
Other .....................................................
------------------ ----------------- ------------------
Total Net Revenues ..........................................
------------------ ----------------- ------------------
Operating Expenses
Operation .................................................
Maintenance ...............................................
Depreciation and depletion ................................
Other taxes ...............................................
------------------ ----------------- ------------------
Total Operating Expenses ....................................
------------------ ----------------- ------------------
Operating Income (Loss) .....................................
------------------ ----------------- ------------------
Other Income (Deductions)
Interest income and other, net ............................
Interest expense and related charges ......................
------------------ ----------------- ------------------
Total Other Income (Deductions) .............................
------------------ ----------------- ------------------
Income (Loss) before Income Taxes............................
Income Taxes ................................................
------------------ ----------------- ------------------
Net Income (Loss) ...........................................
================== ================= ==================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 133
F-3F (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Resources, Inc. and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CNR HH CU
---------------- ---------------- ----------------
<S> <C> <C> <C>
Net Revenues
Energy sales............................................ * * *
Less: Products purchased................................
---------------- ---------------- ----------------
Gross margin............................................
Transportation..........................................
Production gas sales....................................
Other...................................................
---------------- ---------------- ----------------
Total Net Revenues........................................
---------------- ---------------- ----------------
Operating Expenses
Operation ..............................................
Maintenance ............................................
Depreciation and depletion .............................
Other taxes ............................................
---------------- ---------------- ----------------
Total Operating Expenses .................................
---------------- ---------------- ----------------
Operating Income (Loss) ..................................
---------------- ---------------- ----------------
Other Income (Deductions)
Interest income and other, net .........................
Interest expense and related charges ...................
---------------- ---------------- ----------------
Total Other Income (Deductions) ..........................
---------------- ---------------- ----------------
Income (Loss) before Income Taxes ........................
Income Taxes .............................................
---------------- ---------------- ----------------
Net Income (Loss) ........................................
================ ================ ================
</TABLE>
<TABLE>
<CAPTION>
AD AL CER
---------------- ---------------- ----------------
<S> <C> <C> <C>
Net Revenues
Energy sales............................................ * * *
Less: Products purchased................................
---------------- ---------------- ----------------
Gross margin............................................
Transportation..........................................
Production gas sales....................................
Other...................................................
---------------- ---------------- ----------------
Total Net Revenues........................................
---------------- ---------------- ----------------
Operating Expenses
Operation ..............................................
Maintenance ............................................
Depreciation and depletion .............................
Other taxes ............................................
---------------- ---------------- ----------------
Total Operating Expenses .................................
---------------- ---------------- ----------------
Operating Income (Loss) ..................................
---------------- ---------------- ----------------
Other Income (Deductions)
Interest income and other, net .........................
Interest expense and related charges ...................
---------------- ---------------- ----------------
Total Other Income (Deductions) ..........................
---------------- ---------------- ----------------
Income (Loss) before Income Taxes ........................
Income Taxes .............................................
---------------- ---------------- ----------------
Net Income (Loss) ........................................
================ ================ ================
</TABLE>
<TABLE>
<CAPTION>
Consolidating CER
Combined Entries Consolidated
--------------- --------------- ---------------
<S> <C> <C> <C>
Net Revenues
Energy sales............................................ * * *
Less: Products purchased................................
--------------- -------------- ---------------
Gross margin............................................
Transportation..........................................
Production gas sales....................................
Other...................................................
--------------- --------------- ---------------
Total Net Revenues........................................
--------------- --------------- ---------------
Operating Expenses
Operation ..............................................
Maintenance ............................................
Depreciation and depletion .............................
Other taxes ............................................
--------------- --------------- ---------------
Total Operating Expenses .................................
--------------- --------------- ---------------
Operating Income (Loss) ..................................
--------------- --------------- ---------------
Other Income (Deductions)
Interest income and other, net .........................
Interest expense and related charges ...................
--------------- --------------- ---------------
Total Other Income (Deductions) ..........................
--------------- --------------- ---------------
Income (Loss) before Income Taxes ........................
Income Taxes .............................................
--------------- -------------- ---------------
Net Income (Loss) ........................................
=============== ============== ===============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 134
F-3G (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Pipeline Company and Subsidiary
Consolidating Statement of Income
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CDW CPL Combined
------------------ ------------------ ------------------
<S> <C> <C> <C>
Net Revenues
Energy sales .......................... * * *
Less: Products purchased ..............
------------------ ------------------ ------------------
Gross Margin ..........................
Transportation ........................
Production gas sales ..................
Other .................................
------------------ ------------------ ------------------
Total Net Revenues ......................
------------------ ------------------ ------------------
Operating Expenses
Operation .............................
Maintenance ...........................
Depreciation and depletion ............
Other taxes ...........................
------------------ ------------------ ------------------
Total Operating Expenses ................
------------------ ------------------ ------------------
Operating Income (Loss) .................
------------------ ------------------ ------------------
Other Income (Deductions)
Interest income and other, net ........
Interest expense and related charges ..
------------------ ------------------ ------------------
Total Other Income (Deductions) .........
------------------ ------------------ ------------------
Income (Loss) before Income Taxes .......
Income Taxes ............................
------------------ ------------------ ------------------
Net Income (Loss) .......................
================== ================== ==================
</TABLE>
<TABLE>
<CAPTION>
Consolidating CPL
Entries Consolidated
------------------ ------------------
<S> <C> <C>
Net Revenues
Energy sales .......................... * *
Less: Products purchased ..............
------------------ ------------------
Gross Margin ..........................
Transportation ........................
Production gas sales ..................
Other .................................
------------------ ------------------
Total Net Revenues ......................
------------------ ------------------
Operating Expenses
Operation .............................
Maintenance ...........................
Depreciation and depletion ............
Other taxes ...........................
------------------ ------------------
Total Operating Expenses ................
------------------ ------------------
Operating Income (Loss) .................
------------------ ------------------
Other Income (Deductions)
Interest income and other, net ........
Interest expense and related charges ..
------------------ ------------------
Total Other Income (Deductions) .........
------------------ ------------------
Income (Loss) before Income Taxes .......
Income Taxes ............................
------------------ ------------------
Net Income (Loss) .......................
================== ==================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 135
F-4 (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income Entries
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales ................................... * * * *
Less: Products purchased .......................
----------------- ----------------- ----------------- -----------------
Gross Margin ...................................
Transportation .................................
Production gas sales ...........................
Other ..........................................
----------------- ----------------- ----------------- -----------------
Total Net Revenues ...............................
----------------- ----------------- ----------------- -----------------
Operating Expenses
Operation ......................................
Maintenance ....................................
Depreciation and depletion .....................
Other taxes ....................................
----------------- ----------------- ----------------- -----------------
Total Operating Expenses .........................
----------------- ----------------- ----------------- -----------------
Operating Income (Loss) ..........................
----------------- ----------------- ----------------- -----------------
Other Income (Deductions)
Interest income and other, net .................
Interest expense and related charges ...........
----------------- ----------------- ----------------- -----------------
Total Other Income (Deductions) ..................
----------------- ----------------- ----------------- -----------------
Income (Loss) before Income Taxes ................
Income Taxes .....................................
----------------- ----------------- ----------------- -----------------
Net Income (Loss) ................................
================= ================= ================= =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 136
F-4A (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Income Entries
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
---------------- ----------------- ---------------- ------------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales ..................................... * * * *
Less: Products purchased .........................
---------------- ----------------- ---------------- ------------------
Gross Margin .....................................
Transportation ...................................
Production gas sales .............................
Other ............................................
---------------- ----------------- ---------------- ------------------
Total Net Revenues .................................
---------------- ----------------- ---------------- ------------------
Operating Expenses
Operation ........................................
Maintenance ......................................
Depreciation and depletion .......................
Other taxes ......................................
---------------- ----------------- ---------------- ------------------
Total Operating Expenses ...........................
---------------- ----------------- ---------------- ------------------
Operating Income (Loss) ............................
---------------- ----------------- ---------------- ------------------
Other Income (Deductions)
Interest income and other, net ...................
Interest expense and related charges .............
---------------- ----------------- ---------------- ------------------
Total Other Income (Deductions) ....................
---------------- ----------------- ---------------- ------------------
Income (Loss) before Income Taxes...................
Income Taxes .......................................
---------------- ----------------- ---------------- ------------------
Net Income (Loss) ..................................
================ ================= ================ ==================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 137
F-4B (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Group Capital Corporation and Subsidiaries
Consolidating Statement of Income Entries
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
------------------ ------------------- ------------------- -------------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales ........................... * * * *
Less: Products purchased ...............
------------------ ------------------- ------------------- -------------------
Gross Margin ...........................
Transportation .........................
Production gas sales ...................
Other ..................................
------------------ ------------------- ------------------- -------------------
Total Net Revenues .......................
------------------ ------------------- ------------------- -------------------
Operating Expenses
Operation ..............................
Maintenance ............................
Depreciation and depletion .............
Other taxes ............................
------------------ ------------------- ------------------- -------------------
Total Operating Expenses .................
------------------ ------------------- ------------------- -------------------
Operating Income (Loss) ..................
------------------ ------------------- ------------------- -------------------
Other Income (Deductions)
Interest income and other, net .........
Interest expense and related charges ...
------------------ ------------------- ------------------- -------------------
Total Other Income (Deductions) ..........
------------------ ------------------- ------------------- -------------------
Income (Loss) before Income Taxes ........
Income Taxes .............................
------------------ ------------------- ------------------- -------------------
Net Income (Loss) ........................
================== =================== =================== ===================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 138
F-4C (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Income Entries
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales ............................. * * * *
Less: Products purchased .................
----------------- ----------------- ----------------- -----------------
Gross Margin .............................
Transportation ...........................
Production gas sales .....................
Other.....................................
----------------- ----------------- ----------------- -----------------
Total Net Revenues .........................
----------------- ----------------- ----------------- -----------------
Operating Expenses
Operation ................................
Maintenance ..............................
Depreciation and depletion ...............
Other taxes ..............................
----------------- ----------------- ----------------- -----------------
Total Operating Expenses ...................
----------------- ----------------- ----------------- -----------------
Operating Income (Loss) ....................
----------------- ----------------- ----------------- -----------------
Other Income (Deductions)
Interest income and other, net ...........
Interest expense and related charges .....
----------------- ----------------- ----------------- -----------------
Total Other Income (Deductions) ............
----------------- ----------------- ----------------- -----------------
Income (Loss) before Income Taxes ..........
Income Taxes ...............................
----------------- ----------------- ----------------- -----------------
Net Income (Loss) ..........................
================= ================= ================= =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 139
F-4D (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Statement of Income Entries
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----------------- ----------------- ----------------- -------------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales ............................... * * * *
Less: Products purchased ...................
----------------- ----------------- ----------------- -------------------
Gross Margin ...............................
Transportation .............................
Production gas sales .......................
Other......... .............................
----------------- ----------------- ----------------- -------------------
Total Net Revenues ...........................
----------------- ----------------- ----------------- -------------------
Operating Expenses
Operation .................................
Maintenance ...............................
Depreciation and depletion ................
Other taxes ...............................
----------------- ----------------- ----------------- -------------------
Total Operating Expenses ....................
----------------- ----------------- ----------------- -------------------
Operating Income (Loss) .....................
----------------- ----------------- ----------------- -------------------
Other Income (Deductions)
Interest income and other, net ............
Interest expense and related charges ......
----------------- ----------------- ----------------- -------------------
Total Other Income (Deductions) .............
----------------- ----------------- ----------------- -------------------
Income (Loss) before Income Taxes ...........
Income Taxes ................................
----------------- ----------------- ----------------- -------------------
Net Income (Loss) ...........................
================= ================= ================= ===================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 140
F-4E (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiaries
Consolidating Statement of Income Entries
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
------------------ ------------------ ------------------ ------------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales ............................ * * * *
Less: Products purchased ................
------------------ ------------------ ------------------ ------------------
Gross Margin ............................
Transportation ..........................
Production gas sales ....................
Other ...................................
------------------ ------------------ ------------------ ------------------
Total Net Revenues ........................
------------------ ------------------ ------------------ ------------------
Operating Expenses
Operation ...............................
Maintenance .............................
Depreciation and depletion ..............
Other taxes .............................
------------------ ------------------ ------------------ ------------------
Total Operating Expenses ..................
------------------ ------------------ ------------------ ------------------
Operating Income (Loss) ...................
------------------ ------------------ ------------------ ------------------
Other Income (Deductions)
Interest income and other, net ..........
Interest expense and related charges ....
------------------ ------------------ ------------------ ------------------
Total Other Income (Deductions) ...........
------------------ ------------------ ------------------ ------------------
Income (Loss) before Income Taxes..........
Income Taxes ..............................
------------------ ------------------ ------------------ ------------------
Net Income (Loss) .........................
================== ================== ================== ==================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 141
F-4F (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Resources, Inc. and Subsidiaries
Consolidating Statement of Income Entries
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales................................. * * * *
Less: Products purchased.....................
---------------- ---------------- ---------------- ----------------
Gross margin.................................
Transportation...............................
Production gas sales.........................
Other........................................
---------------- ---------------- ---------------- ----------------
Total Net Revenues.............................
---------------- ---------------- ---------------- ----------------
Operating Expenses
Operation ...................................
Maintenance .................................
Depreciation and depletion ..................
Other taxes .................................
---------------- ---------------- ---------------- ----------------
Total Operating Expenses ......................
---------------- ---------------- ---------------- ----------------
Operating Income (Loss) .......................
---------------- ---------------- ---------------- ----------------
Other Income (Deductions)
Interest income and other, net ..............
Interest expense and related charges ........
---------------- ---------------- ---------------- ----------------
Total Other Income (Deductions) ...............
---------------- ---------------- ---------------- ----------------
Income (Loss) before Income Taxes .............
Income Taxes ..................................
---------------- ---------------- ---------------- ----------------
Net Income (Loss) .............................
================ ================ ================ ================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 142
F-4G (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Pipeline Company and Subsidiary
Consolidating Statement of Income Entries
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
------------------ ------------------ ------------------ ------------------
<S> <C> <C> <C> <C>
Net Revenues
Energy sales .............................. * * * *
Less: Products purchased ..................
------------------ ------------------ ------------------ ------------------
Gross Margin ..............................
Transportation ............................
Production gas sales ......................
Other .....................................
------------------ ------------------ ------------------ ------------------
Total Net Revenues ..........................
------------------ ------------------ ------------------ ------------------
Operating Expenses
Operation .................................
Maintenance ...............................
Depreciation and depletion ................
Other taxes ...............................
------------------ ------------------ ------------------ ------------------
Total Operating Expenses ....................
------------------ ------------------ ------------------ ------------------
Operating Income (Loss) .....................
------------------ ------------------ ------------------ ------------------
Other Income (Deductions)
Interest income and other, net ............
Interest expense and related charges ......
------------------ ------------------ ------------------ ------------------
Total Other Income (Deductions) .............
------------------ ------------------ ------------------ ------------------
Income (Loss) before Income Taxes ...........
Income Taxes ................................
------------------ ------------------ ------------------ ------------------
Net Income (Loss) ...........................
================== ================== ================== ==================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 143
F-5 (1 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 F-5 F-5 F-5 Consolidating
Page 2 Page 3 Page 4 Page 5 Combined Entries Consolidated
---------- ---------- ---------- ---------- ---------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ........... * * * * * * 554,955
Common stock issued -
Subsidiaries ........................ -
Stock split 3 for 2.................. 277,856
Long-term incentive plan ............ 2,308
Public offering ..................... -
---------- ---------- ---------- ---------- ---------- ------------- ------------
Balance at end of year ................. 835,119
---------- ---------- ---------- ---------- ---------- ------------- ------------
Additional Paid in Capital
Balance at beginning of year ........... 754,215
Common stock issued -
Subsidiaries ........................ -
Long-term incentive plan ............ 7,589
Public offering ..................... -
Recapitalization -
Capital contributions................ -
---------- ---------- ---------- ---------- ---------- ------------- ------------
Balance at end of year ................. 761,804
---------- ---------- ---------- ---------- ---------- ------------- ------------
Retained Earnings
Balance at beginning of year ........... 482,714
Net income (loss)...................... 269,244
Stock dividend - stock split 3 for 2... 278,467
Cash dividends -
CG .................................. 63,947
Subsidiaries (to CG) ................ -
Other ................................. -
---------- ---------- ---------- ---------- ---------- ------------- ------------
Balance at end of year ................. 409,544
---------- ---------- ---------- ---------- ---------- ------------- ------------
Reacquired Capital Stock................. -
Accumulated Foreign Currency Translation
Adjusment Balance at beginning of year . -
Translation adjustment................. (281)
---------- ---------- ---------- ---------- ---------- ------------- ------------
Balance at end of year ................. (281)
---------- ---------- ---------- ---------- ---------- ------------- ------------
Unearned Employee Compensation
Balance at beginning of year ........... (1,168)
Adjustment ............................ 292
---------- ---------- ---------- ---------- ---------- ------------- ------------
Balance at end of year ................. (876)
---------- ---------- ---------- ---------- ---------- ------------- ------------
TOTAL COMMON STOCK EQUITY 2,005,310
========== ========== ========== ========== ========== ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 144
F-5 (2 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 2
CER (a) TCO CGT CLG (a) CKY Total
--------- ------------ ----------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ............. * 48 20 * 23,806 *
Common stock issued -
Subsidiaries .......................... - - -
Stock split 3 for 2.................... - - -
Long-term incentive plan .............. - - -
Public offering ....................... - - -
--------- ------------ ----------- ----------- ----------- ------------
Balance at end of year ................... 48 20 23,806
--------- ------------ ----------- ----------- ----------- ------------
Additional Paid in Capital
Balance at beginning of year ............. 1,512,025 82,429 174
Common stock issued -
Subsidiaries .......................... - - -
Long-term incentive plan .............. - - -
Public offering ....................... - - -
Recapitalization -
Capital contributions.................. - - -
--------- ------------ ----------- ----------- ----------- ------------
Balance at end of year ................... 1,512,025 82,429 174
--------- ------------ ----------- ----------- ----------- ------------
Retained Earnings
Balance at beginning of year ............. (537,611) 21,404 42,681
Net income .............................. 156,336 29,098 13,497
Stock dividend - stock split 3 for 2..... - - -
Cash dividends -
CG .................................... - - -
Subsidiaries (to CG) .................. 135,000 10,500 11,094
Other ................................... - - -
--------- ------------ ----------- ----------- ----------- ------------
Balance at end of year ................... (516,275) 40,002 45,084
--------- ------------ ----------- ----------- ----------- ------------
Reacquired Capital Stock................... - - -
Accumulated Foreign Currency Translation
Adjusment Balance at beginning of year ... - - -
Translation Adjustment................... - - -
--------- ------------ ----------- ----------- ----------- ------------
Balance at end of year ................... - - -
--------- ------------ ----------- ----------- ----------- ------------
Unearned Employee Compensation
Balance at beginning of year ............. - - -
Adjustment .............................. - - -
--------- ------------ ----------- ----------- ----------- ------------
Balance at end of year ................... - - -
--------- ------------ ----------- ----------- ----------- ------------
TOTAL COMMON STOCK EQUITY 995,798 122,451 69,064
========= ============ =========== =========== =========== ============
</TABLE>
(a) CER includes five subsidiaries and CLG includes one subsidiary as noted in
Item 1. Consolidating financial statements of CER and CLG are presented herewith
in Item 10, Exhibits F-1F through F-6F and F-1C through F-6C, respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 145
F-5 (3 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 3
CMD CPA CGV COH CG Total
----------- ---------- ----------- ------------ ------- ----------
<S> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ............... 72 85,128 65,305 119,240 * *
Common stock issued -
Subsidiaries ............................ - - - -
Stock split 3 for 2...................... - - - -
Long-term incentive plan ................ - - - -
Public offering ......................... - - - -
----------- ---------- ----------- ------------ ------- ----------
Balance at end of year ..................... 72 85,128 65,305 119,240
----------- ---------- ----------- ------------ ------- ----------
Additional Paid in Capital
Balance at beginning of year ............... 10,020 - 2,969 -
Common stock issued -
Subsidiaries ............................ - - - -
Long-term incentive plan ................ - - - -
Public offering ......................... - - - -
Recapitalization -
Capital contributions.................... - - - -
----------- ---------- ----------- ------------ ------- ----------
Balance at end of year ..................... 10,020 - 2,969 -
----------- ---------- ----------- ------------ ------- ----------
Retained Earnings
Balance at beginning of year ............... 12,308 130,987 73,520 303,247
Net income ................................ 3,387 21,412 12,729 58,945
Stock dividend - stock split 3 for 2....... - - - -
Cash dividends -
CG ...................................... - - - -
Subsidiaries (to CG) .................... 2,492 18,728 - 45,788
Other ..................................... - - - -
----------- ---------- ----------- ------------ ------- ----------
Balance at end of year ..................... 13,203 133,671 86,249 316,404
----------- ---------- ----------- ------------ ------- ----------
Reacquired Capital Stock..................... - - - -
Accumulated Foreign Currency Translation
Adjusment Balance at beginning of year ..... - - - -
Translation Adjustment..................... - - - -
----------- ---------- ----------- ------------ ------- ----------
Balance at end of year ..................... - - - -
----------- ---------- ----------- ------------ ------- ----------
Unearned Employee Compensation
Balance at beginning of year ............... - - - -
Adjustment ................................ - - - -
----------- ---------- ----------- ------------ ------- ----------
Balance at end of year ..................... - - - -
----------- ---------- ----------- ------------ ------- ----------
TOTAL COMMON STOCK EQUITY 23,295 218,799 154,523 435,644
=========== ========== =========== ============ ======= ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 146
F-5 (4 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 4
CS CIC CES (a) CPC CEC (a) Total
----------- ----- ------- ----- ------- ----------
<S> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year .............. 300 * * * * *
Common stock issued -
Subsidiaries ........................... -
Stock split 3 for 2..................... -
Long-term incentive plan ............... -
Public offering ........................ -
----------- ----- ------- ----- ------- ----------
Balance at end of year .................... 300
----------- ----- ------- ----- ------- ----------
Additional Paid in Capital
Balance at beginning of year .............. 12,700
Common stock issued -
Subsidiaries ........................... -
Long-term incentive plan ............... -
Public offering ........................ -
Recapitalization -
Capital contributions................... -
----------- ----- ------- ----- ------- ----------
Balance at end of year .................... 12,700
----------- ----- ------- ----- ------- ----------
Retained Earnings
Balance at beginning of year .............. 186
Net income (loss)......................... 2,237
Stock dividend - stock split 3 for 2...... -
Cash dividends -
CG ..................................... -
Subsidiaries (to CG) ................... 2,237
Other .................................... -
----------- ----- ------- ----- ------- ----------
Balance at end of year .................... 186
----------- ----- ------- ----- ------- ----------
Reacquired Capital Stock.................... -
Accumulated Foreign Currency Translation
Adjusment Balance at beginning of year .... -
Translation Adjustment.................... -
----------- ----- ------- ----- ------- ----------
Balance at end of year .................... -
----------- ----- ------- ----- ------- ----------
Unearned Employee Compensation
Balance at beginning of year .............. -
Adjustment ............................... -
----------- ----- ------- ----- ------- ----------
Balance at end of year .................... -
----------- ----- ------- ----- ------- ----------
TOTAL COMMON STOCK EQUITY 13,186
=========== ===== ======= ===== ======= ==========
</TABLE>
(a) CES includes four subsidiaries and CEC includes eleven subsidiaries as noted
in Item 1. Consolidating financial statements of CES and CEC are presented
herewith in Item 10, Exhibits F-1D through F-6D and F-1A through F-6A,
respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 147
F-5 (5 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 5
CCC (a) CAT CNS (a) CPL (a) Total
----------- ----- ----------- ----------- ----------
<S> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year .............. * * * * *
Common stock issued -
Subsidiaries ...........................
Stock split 3 for 2.....................
Long-term incentive plan ...............
Public offering ........................
----------- ----- ----------- ----------- ----------
Balance at end of year ....................
----------- ----- ----------- ----------- ----------
Additional Paid in Capital
Balance at beginning of year ..............
Common stock issued -
Subsidiaries ...........................
Long-term incentive plan ...............
Public offering ........................
Recapitalization -
Capital contributions...................
----------- ----- ----------- ----------- ----------
Balance at end of year ....................
----------- ----- ----------- ----------- ----------
Retained Earnings
Balance at beginning of year ..............
Net income ...............................
Stock dividend - stock split 3 for 2......
Cash dividends -
CG .....................................
Subsidiaries (to CG) ...................
Other ....................................
----------- ----- ----------- ----------- ----------
Balance at end of year ....................
----------- ----- ----------- ----------- ----------
Reacquired Capital Stock....................
Accumulated Foreign Currency Translation
Adjusment Balance at beginning of year ....
Translation Adjustment....................
----------- ----- ----------- ----------- ----------
Balance at end of year ....................
----------- ----- ----------- ----------- ----------
Unearned Employee Compensation
Balance at beginning of year ..............
Adjustment ...............................
----------- ----- ----------- ----------- ----------
Balance at end of year ....................
----------- ----- ----------- ----------- ----------
TOTAL COMMON STOCK EQUITY
=========== ===== =========== =========== ==========
</TABLE>
(a) CCC and CNS include two subsidiaries and CPL includes one subsidiary as
noted in Item 1. Consolidating financial statements of CCC, CNS and CPL are
presented herewith in Item 10, Exhibits F-1B through F-6B, F-1E through F-6E and
F-1G through F-6G, respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 148
F-5A (1 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5A F-5A
Page 2 Page 3 Combined
---------------- ----------------- ----------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
---------------- ----------------- ----------------
Balance at end of year .............................
---------------- ----------------- ----------------
Additional Paid in Capital
Balance at beginning of year .......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Recapitalization -
Capital contributions ...........................
---------------- ----------------- ----------------
Balance at end of year .............................
---------------- ----------------- ----------------
Retained Earnings
Balance at beginning of year .......................
Net income (loss) .................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
---------------- ----------------- ----------------
Balance at end of year .............................
---------------- ----------------- ----------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year .......................
Translation adjustment.............................
---------------- ----------------- ----------------
Balance at end of year .............................
---------------- ----------------- ----------------
Unearned Employee Compensation
Balance at beginning of year .......................
Adjustment ........................................
---------------- ----------------- ----------------
Balance at end of year .............................
---------------- ----------------- ----------------
TOTAL COMMON STOCK EQUITY
================ ================= ================
</TABLE>
<TABLE>
<CAPTION>
Consolidating CEC
Entries Consolidated
------------------ -----------------
<S> <C> <C>
Common Stock
Balance at beginning of year ....................... * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
------------------ -----------------
Balance at end of year .............................
------------------ -----------------
Additional Paid in Capital
Balance at beginning of year .......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Recapitalization -
Capital contributions ...........................
------------------ -----------------
Balance at end of year .............................
------------------ -----------------
Retained Earnings
Balance at beginning of year .......................
Net income (loss) .................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
------------------ -----------------
Balance at end of year .............................
------------------ -----------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year .......................
Translation adjustment.............................
------------------ -----------------
Balance at end of year .............................
------------------ -----------------
Unearned Employee Compensation
Balance at beginning of year .......................
Adjustment ........................................
------------------ -----------------
Balance at end of year .............................
------------------ -----------------
TOTAL COMMON STOCK EQUITY
================== =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 149
F-5A (2 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CBG CBL CGG CGP
---------------- ----------------- ---------------- ------------------
<S> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... * * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
---------------- ----------------- ---------------- ------------------
Balance at end of year .............................
---------------- ----------------- ---------------- ------------------
Additional Paid in Capital
Balance at beginning of year .......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Recapitalization -
Capital contributions ...........................
---------------- ----------------- ---------------- ------------------
Balance at end of year .............................
---------------- ----------------- ---------------- ------------------
Retained Earnings
Balance at beginning of year .......................
Net Income ........................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
---------------- ----------------- ---------------- ------------------
Balance at end of year .............................
---------------- ----------------- ---------------- ------------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year .......................
Translation Adjustment.............................
---------------- ----------------- ---------------- ------------------
Balance at end of year .............................
---------------- ----------------- ---------------- ------------------
Unearned Employee Compensation
Balance at beginning of year .......................
Adjustment ........................................
---------------- ----------------- ---------------- ------------------
Balance at end of year .............................
---------------- ----------------- ---------------- ------------------
TOTAL COMMON STOCK EQUITY
================ ================= ================ ==================
</TABLE>
<TABLE>
<CAPTION>
F-5A Page 2
CLP CEC Total
----------------- ----------------- ----------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
----------------- ----------------- ----------------
Balance at end of year .............................
----------------- ----------------- ----------------
Additional Paid in Capital
Balance at beginning of year .......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Recapitalization -
Capital contributions ...........................
----------------- ----------------- ----------------
Balance at end of year .............................
----------------- ----------------- ----------------
Retained Earnings
Balance at beginning of year .......................
Net Income ........................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
----------------- ----------------- ----------------
Balance at end of year .............................
----------------- ----------------- ----------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year .......................
Translation Adjustment.............................
----------------- ----------------- ----------------
Balance at end of year .............................
----------------- ----------------- ----------------
Unearned Employee Compensation
Balance at beginning of year .......................
Adjustment ........................................
----------------- ----------------- ----------------
Balance at end of year .............................
----------------- ----------------- ----------------
TOTAL COMMON STOCK EQUITY
================= ================= ================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 150
F-5A (3 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CVG CVL CRL CEH
---------------- ----------------- ---------------- ------------------
<S> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... * * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
---------------- ----------------- ---------------- ------------------
Balance at end of year .............................
---------------- ----------------- ---------------- ------------------
Additional Paid in Capital
Balance at beginning of year .......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Recapitalization -
Capital contributions ...........................
---------------- ----------------- ---------------- ------------------
Balance at end of year .............................
---------------- ----------------- ---------------- ------------------
Retained Earnings
Balance at beginning of year .......................
Net Income ........................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
---------------- ----------------- ---------------- ------------------
Balance at end of year .............................
---------------- ----------------- ---------------- ------------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year .......................
Translation adjustment.............................
---------------- ----------------- ---------------- ------------------
Balance at end of year .............................
---------------- ----------------- ---------------- ------------------
Unearned Employee Compensation
Balance at beginning of year .......................
Adjustment ........................................
---------------- ----------------- ---------------- ------------------
Balance at end of year .............................
---------------- ----------------- ---------------- ------------------
TOTAL COMMON STOCK EQUITY
================ ================= ================ ==================
</TABLE>
<TABLE>
<CAPTION>
F-5A Page 3
CEL CGR Total
----------------- ----------------- ----------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
----------------- ----------------- ----------------
Balance at end of year .............................
----------------- ----------------- ----------------
Additional Paid in Capital
Balance at beginning of year .......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Recapitalization -
Capital contributions ...........................
----------------- ----------------- ----------------
Balance at end of year .............................
----------------- ----------------- ----------------
Retained Earnings
Balance at beginning of year .......................
Net Income ........................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
----------------- ----------------- ----------------
Balance at end of year .............................
----------------- ----------------- ----------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year .......................
Translation adjustment.............................
----------------- ----------------- ----------------
Balance at end of year .............................
----------------- ----------------- ----------------
Unearned Employee Compensation
Balance at beginning of year .......................
Adjustment ........................................
----------------- ----------------- ----------------
Balance at end of year .............................
----------------- ----------------- ----------------
TOTAL COMMON STOCK EQUITY
================= ================= ================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 151
F-5B (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Group Capital Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
TGT CTC CCC
------------------ ------------------------ ----------------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
------------------ ------------------------ ----------------------
Balance at end of year ............................
------------------ ------------------------ ----------------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Recapitalization -
Capital contributions ...........................
------------------ ------------------------ ----------------------
Balance at end of year ............................
------------------ ------------------------ ----------------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
------------------ ------------------------ ----------------------
Balance at end of year ............................
------------------ ------------------------ ----------------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment.............................
------------------ ------------------------ ----------------------
Balance at end of year ............................
------------------ ------------------------ ----------------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment ........................................
------------------ ------------------------ ----------------------
Balance at end of year ............................
------------------ ------------------------ ----------------------
TOTAL COMMON STOCK EQUITY ...........................
================== ======================== ======================
</TABLE>
<TABLE>
<CAPTION>
Consolidating CCC
Combined Entries Consolidated
------------------- ------------------------- --------------------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
------------------- ------------------------- --------------------------
Balance at end of year ............................
------------------- ------------------------- --------------------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Recapitalization -
Capital contributions ...........................
------------------- ------------------------- --------------------------
Balance at end of year ............................
------------------- ------------------------- --------------------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
------------------- ------------------------- --------------------------
Balance at end of year ............................
------------------- ------------------------- --------------------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment.............................
------------------- ------------------------- --------------------------
Balance at end of year ............................
------------------- ------------------------- --------------------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment ........................................
------------------- ------------------------- --------------------------
Balance at end of year ............................
------------------- ------------------------- --------------------------
TOTAL COMMON STOCK EQUITY ...........................
=================== ========================= ==========================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 152
F-5C (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CLNG CLG Combined
----------------- ----------------- -----------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
----------------- ----------------- -----------------
Balance at end of year ............................
----------------- ----------------- -----------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other ...........................................
Recapitalization -
Capital contributions ...........................
----------------- ----------------- -----------------
Balance at end of year ............................
----------------- ----------------- -----------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
----------------- ----------------- -----------------
Balance at end of year ............................
----------------- ----------------- -----------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment.............................
----------------- ----------------- -----------------
Balance at end of year ............................
----------------- ----------------- -----------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment ........................................
----------------- ----------------- -----------------
Balance at end of year ............................
----------------- ----------------- -----------------
TOTAL COMMON STOCK EQUITY ...........................
================= ================= =================
</TABLE>
<TABLE>
<CAPTION>
Consolidating CLG
Entries Consolidated
----------------- -----------------
<S> <C> <C>
Common Stock
Balance at beginning of year ...................... * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
----------------- -----------------
Balance at end of year ............................
----------------- -----------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other ...........................................
Recapitalization -
Capital contributions ...........................
----------------- -----------------
Balance at end of year ............................
----------------- -----------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
----------------- -----------------
Balance at end of year ............................
----------------- -----------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment.............................
----------------- -----------------
Balance at end of year ............................
----------------- -----------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment ........................................
----------------- -----------------
Balance at end of year ............................
----------------- -----------------
TOTAL COMMON STOCK EQUITY ...........................
================= =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 153
F-5D (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CEM CPM CSP ECC
----------------- -------------- -------------- -------------------
<S> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... * * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
----------------- -------------- -------------- -------------------
Balance at end of year .............................
----------------- -------------- -------------- -------------------
Additional Paid in Capital
Balance at beginning of year .......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other ...........................................
Recapitalization -
Capital contributions............................
----------------- -------------- -------------- -------------------
Balance at end of year .............................
----------------- -------------- -------------- -------------------
Retained Earnings
Balance at beginning of year .......................
Net income (loss)...................................
Stock dividend - stock split 3 for 2................
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
----------------- -------------- -------------- -------------------
Balance at end of year .............................
----------------- -------------- -------------- -------------------
Reacquired Capital Stock.............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year .......................
Translation adjustment.............................
----------------- -------------- -------------- -------------------
Balance at end of year .............................
----------------- -------------- -------------- -------------------
Unearned Employee Compensation
Balance at beginning of year .......................
Adjustment ........................................
----------------- -------------- -------------- -------------------
Balance at end of year .............................
----------------- -------------- -------------- -------------------
TOTAL COMMON STOCK EQUITY
================= ============== ============== ===================
</TABLE>
<TABLE>
<CAPTION>
Consolidating CES
CES Combined Entries Consolidated
--------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... * * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
--------------- ----------------- ----------------- -----------------
Balance at end of year .............................
--------------- ----------------- ----------------- -----------------
Additional Paid in Capital
Balance at beginning of year .......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other ...........................................
Recapitalization -
Capital contributions............................
--------------- ----------------- ----------------- -----------------
Balance at end of year .............................
--------------- ----------------- ----------------- -----------------
Retained Earnings
Balance at beginning of year .......................
Net income (loss)...................................
Stock dividend - stock split 3 for 2................
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
--------------- ----------------- ----------------- -----------------
Balance at end of year .............................
--------------- ----------------- ----------------- -----------------
Reacquired Capital Stock.............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year .......................
Translation adjustment.............................
--------------- ----------------- ----------------- -----------------
Balance at end of year .............................
--------------- ----------------- ----------------- -----------------
Unearned Employee Compensation
Balance at beginning of year .......................
Adjustment ........................................
--------------- ----------------- ----------------- -----------------
Balance at end of year .............................
--------------- ----------------- ----------------- -----------------
TOTAL COMMON STOCK EQUITY
=============== ================= ================= =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 154
F-5E (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CMC EN CNS
------------------ ------------------ ------------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
------------------ ------------------ ------------------
Balance at end of year ............................
------------------ ------------------ ------------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other ...........................................
Recapitalization -
Capital contributions ...........................
------------------ ------------------ ------------------
Balance at end of year ............................
------------------ ------------------ ------------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
------------------ ------------------ ------------------
Balance at end of year ............................
------------------ ------------------ ------------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment ...........................
------------------ ------------------ ------------------
Balance at end of year ............................
------------------ ------------------ ------------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment........................................
------------------ ------------------ ------------------
Balance at end of year ............................
------------------ ------------------ ------------------
TOTAL COMMON STOCK EQUITY ...........................
================== ================== ==================
</TABLE>
<TABLE>
<CAPTION>
Consolidating CNS
Combined Entries Consolidated
------------------ ----------------- ------------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
------------------ ----------------- ------------------
Balance at end of year ............................
------------------ ----------------- ------------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other ...........................................
Recapitalization -
Capital contributions ...........................
------------------ ----------------- ------------------
Balance at end of year ............................
------------------ ----------------- ------------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
------------------ ----------------- ------------------
Balance at end of year ............................
------------------ ----------------- ------------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment ...........................
------------------ ----------------- ------------------
Balance at end of year ............................
------------------ ----------------- ------------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment........................................
------------------ ----------------- ------------------
Balance at end of year ............................
------------------ ----------------- ------------------
TOTAL COMMON STOCK EQUITY ...........................
================== ================= ==================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 155
F-5F (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Resources, Inc. and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CNR HH CU
---------------- ---------------- ----------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other............................................
Recapitalization -
Capital contributions ...........................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividends - stock split 3 for 2..............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment...........................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment........................................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
TOTAL COMMON STOCK EQUITY ...........................
================ ================ ================
</TABLE>
<TABLE>
<CAPTION>
AD AL CER
---------------- ---------------- ----------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other............................................
Recapitalization -
Capital contributions ...........................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividends - stock split 3 for 2..............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment...........................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment........................................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
TOTAL COMMON STOCK EQUITY ...........................
================ ================ ================
</TABLE>
<TABLE>
<CAPTION>
Consolidating CER
Combined Entries Consolidated
---------------- ---------------- ----------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other............................................
Recapitalization -
Capital contributions ...........................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividends - stock split 3 for 2..............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment...........................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment........................................
---------------- ---------------- ----------------
Balance at end of year ............................
---------------- ---------------- ----------------
TOTAL COMMON STOCK EQUITY ...........................
================ ================ ================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 156
F-5G (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Pipeline Company and Subsidiary
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CDW CPL Combined
------------------ ------------------ ------------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... * * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
------------------ ------------------ ------------------
Balance at end of year ............................
------------------ ------------------ ------------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other ...........................................
Recapitalization -
Capital contributions ...........................
------------------ ------------------ ------------------
Balance at end of year ............................
------------------ ------------------ ------------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
------------------ ------------------ ------------------
Balance at end of year ............................
------------------ ------------------ ------------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment............................
------------------ ------------------ ------------------
Balance at end of year ............................
------------------ ------------------ ------------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment .......................................
------------------ ------------------ ------------------
Balance at end of year ............................
------------------ ------------------ ------------------
TOTAL COMMON STOCK EQUITY ...........................
================== ================== ==================
</TABLE>
<TABLE>
<CAPTION>
Consolidating CPL
Entries Consolidated
------------------ ------------------
<S> <C> <C>
Common Stock
Balance at beginning of year ...................... * *
Common stock issued -
Subsidiaries ....................................
Stock split 3 for 2..............................
Long-term incentive plan ........................
Public offering .................................
------------------ ------------------
Balance at end of year ............................
------------------ ------------------
Additional Paid in Capital
Balance at beginning of year ......................
Common stock issued -
Subsidiaries ....................................
Long-term incentive plan ........................
Public offering .................................
Other ...........................................
Recapitalization -
Capital contributions ...........................
------------------ ------------------
Balance at end of year ............................
------------------ ------------------
Retained Earnings
Balance at beginning of year ......................
Net income (loss) .................................
Stock dividend - stock split 3 for 2...............
Cash dividends -
CG ..............................................
Subsidiaries (to CG) ............................
Other .............................................
------------------ ------------------
Balance at end of year ............................
------------------ ------------------
Reacquired Capital Stock ............................
Accumulated Foreign Currency Translation Adjustment
Balance at beginning of year ......................
Translation adjustment............................
------------------ ------------------
Balance at end of year ............................
------------------ ------------------
Unearned Employee Compensation
Balance at beginning of year ......................
Adjustment .......................................
------------------ ------------------
Balance at end of year ............................
------------------ ------------------
TOTAL COMMON STOCK EQUITY ...........................
================== ==================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 157
F-6 (1 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 F-6 F-6 F-6 Consolidating
Page 2 Page 3 Page 4 Page 5 Combined Entries Consolidated
-------- -------- -------- -------- ---------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 6 for detail) . * * * * * * 761,759
-------- -------- -------- -------- ---------- ------------- ------------
Investment Activities
Capital expenditures ............................... (462,885)
Contribution - partnerships ........................ -
Purchase of investment assets ...................... (8,730)
Other investments - net ............................ (3,809)
-------- -------- -------- -------- ---------- ------------- ------------
Net Investment Activities ............................ (475,424)
-------- -------- -------- -------- ---------- ------------- ------------
Financing Activities
Dividends paid ..................................... (63,997)
Capital contributions .............................. -
Retirement of long-term debt ....................... (900)
Issuance of common stock -
Issued by Registrant ............................. 10,566
Issued by Subsidiary to Registrant ............... -
Issuance of long-term debt -
Issued by Registrant ............................. -
Issued by Subsidiary to Registrant ............... -
Issuance (Repayment) of short-term debt............. (182,391)
Other financing activities.......................... (52,027)
-------- -------- -------- -------- ---------- ------------- ------------
Net Financing Activities ............................. (288,749)
-------- -------- -------- -------- ---------- ------------- ------------
Increase in cash and temporary cash investments ...... (2,414)
Cash and temporary cash investments at
beginning of year ................................... 28,740
-------- -------- -------- -------- ---------- ------------- ------------
Cash and temporary cash investments at
end of year (a) ..................................... 26,326
-------- -------- -------- -------- ---------- ------------- ------------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest 147,016
Cash paid for income taxes (net of refunds) 38,278
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 158
F-6 (2 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 2
CER (b) TCO CGT CLG (b) CKY Total
--------- --------- --------- --------- --------- ------------
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 7 for detail) . * 283,596 53,594 * 34,378 *
--------- --------- --------- --------- --------- ------------
Investment Activities
Capital expenditures ............................... (163,469) (45,469) (12,526)
Contribution - partnerships ........................ - - -
Purchase of investment assets ...................... - - -
Other investments - net ............................ - - -
--------- --------- --------- --------- --------- ------------
Net Investment Activities ............................ (163,469) (45,469) (12,526)
--------- --------- --------- --------- --------- ------------
Financing Activities
Dividends paid ..................................... (135,000) (10,500) (11,094)
Capital contributions .............................. - - -
Retirement of long-term debt ....................... - - -
Issuance of common stock -
Issued by Registrant ............................. - - -
Issued by Subsidiary to Registrant ............... - - -
Issuance of long-term debt -
Issued by Registrant ............................. - - -
Issued by Subsidiary to Registrant ............... - - -
Issuance (Repayment) of short-term debt............. 22,529 2,708 (8,975)
Other financing activities.......................... (36,814) (3,244) (1,641)
--------- --------- --------- --------- --------- ------------
Net Financing Activities ............................. (149,285) (11,036) (21,710)
--------- --------- --------- --------- --------- ------------
Increase in cash and temporary cash investments ...... (29,158) (2,911) 142
Cash and temporary cash investments at
beginning of year ................................... 29,228 2,922 528
--------- --------- --------- --------- --------- ------------
Cash and temporary cash investments at
end of year (a) ..................................... 70 11 670
--------- --------- --------- --------- --------- ------------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest 44,580 5,223 4,299
Cash paid for income taxes (net of refunds) 57,253 12,260 5,850
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
(b) CER includes five subsidiaries and CLG includes one subsidiary as noted in
Item 1. Consolidating financial statements of CER and CLG are presented
herewith in Item 10, Exhibits F-1F through F-6F and F-1C through F-6C,
respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 159
F-6 (3 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 3
COH CMD CPA CGV CG Total
--------- --------- --------- --------- ------- ------------
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 8 for detail) . 170,686 7,489 71,379 44,128 * *
--------- --------- --------- --------- ------- ------------
Investment Activities
Capital expenditures ............................... (63,005) (4,105) (29,032) (46,852)
Contribution - partnerships ........................ - - - -
Purchase of investment assets ...................... - - - -
Other investments - net ............................ - - - -
--------- --------- --------- --------- ------- ------------
Net Investment Activities ............................ (63,005) (4,105) (29,032) (46,852)
--------- --------- --------- --------- ------- ------------
Financing Activities
Dividends paid ..................................... (45,788) (2,492) (18,728) -
Capital contributions .............................. - - - -
Retirement of long-term debt ....................... - - - (900)
Issuance of common stock -
Issued by Registrant ............................. - - - -
Issued by Subsidiary to Registrant ............... - - - -
Issuance of long-term debt -
Issued by Registrant ............................. - - - 10,000
Issued by Subsidiary to Registrant ............... - - - -
Issuance (Repayment) of short-term debt............. (59,682) (500) (21,455) (39,000)
Other financing activities.......................... (2,630) (290) (1,922) 729
--------- --------- --------- --------- ------- ------------
Net Financing Activities ............................. (108,100) (3,282) (42,105) (29,171)
--------- --------- --------- --------- ------- ------------
Increase in cash and temporary cash investments ...... (419) 102 242 (31,895)
Cash and temporary cash investments at
beginning of year ................................... 3,685 1 778 32,923
--------- --------- --------- --------- ------- ------------
Cash and temporary cash investments at
end of year (a) ..................................... 3,266 103 1,020 1,028
--------- --------- --------- --------- ------- ------------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest 30,290 1,377 13,666 8,887
Cash paid for income taxes (net of refunds) (5,540) 639 7,813 6,394
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 160
F-6 (4 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 4
CS CIC CES (b) CPC CEC (b) Total
-------- ------- ----------- ------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 9 for detail) . 128 * * * * *
-------- ------- ----------- ------- ----------- ------------
Investment Activities
Capital expenditures ............................... (10,136)
Contribution - partnerships ........................ -
Purchase of investment assets ...................... -
Other investments - net ............................ -
-------- ------- ----------- ------- ----------- ------------
Net Investment Activities ............................ (10,136)
-------- ------- ----------- ------- ----------- ------------
Financing Activities
Dividends paid ..................................... (2,236)
Capital contributions .............................. -
Retirement of long-term debt ....................... -
Issuance of common stock -
Issued by Registrant ............................. -
Issued by Subsidiary to Registrant ............... -
Issuance of long-term debt -
Issued by Registrant ............................. -
Issued by Subsidiary to Registrant ............... -
Issuance (Repayment) of short-term debt............. 10,758
Other financing activities.......................... 1,890
-------- ------- ----------- ------- ----------- ------------
Net Financing Activities ............................. 10,412
-------- ------- ----------- ------- ----------- ------------
Increase in cash and temporary cash investments ...... 404
Cash and temporary cash investments at
beginning of year ................................... 29
-------- ------- ----------- ------- ----------- ------------
Cash and temporary cash investments at
end of year (a) ..................................... 433
-------- ------- ----------- ------- ----------- ------------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest 2,325
Cash paid for income taxes (net of refunds) (199)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
(b) CES includes four subsidiaries and CEC includes eleven subsidiaries as
noted in Item 1. Consolidating financial statements of CES and CEC are
presented herewith in Item 10, Exhibits F-1D through F-6D and F-1A through
F-6A, respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 161
F-6 (5 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 5
CCC (b) CAT CNS (b) CPL (b) Total
----------- ------- ----------- ---------- ------------
<S> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 10 for detail) ... * * * * *
----------- ------- ----------- ---------- ------------
Investment Activities
Capital expenditures ..................................
Contribution - partnerships ...........................
Purchase of investment assets .........................
Other investments - net ...............................
----------- ------- ----------- ---------- ------------
Net Investment Activities ...............................
----------- ------- ----------- ---------- ------------
Financing Activities
Dividends paid ........................................
Capital contributions .................................
Retirement of long-term debt ..........................
Issuance of common stock -
Issued by Registrant ................................
Issued by Subsidiary to Registrant ..................
Issuance of long-term debt -
Issued by Registrant ................................
Issued by Subsidiary to Registrant ..................
Issuance (Repayment) of short-term debt................
Other financing activities.............................
----------- ------- ----------- ---------- ------------
Net Financing Activities ................................
----------- ------- ----------- ---------- ------------
Increase in cash and temporary cash investments .........
Cash and temporary cash investments at
beginning of year ......................................
----------- ------- ----------- ---------- ------------
Cash and temporary cash investments at
end of year (a) ........................................
----------- ------- ----------- ---------- ------------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income taxes (net of refunds)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
(b) CCC and CNS include two subsidiaries and CPL includes one subsidiary as
noted in Item 1. Consolidating financial statements of CCC, CNS and CPL are
presented herewith in Item 10, Exhibits F-1B through F-6B, F-1E through F-6E
and F-1G through F-6G, respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 162
F-6 (6 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 F-6 F-6 F-6 Consolidating
Page 7 Page 8 Page 9 Page 10 Combined Entries Consolidated
-------- -------- -------- --------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) .................................. * * * * * * 269,244
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries . -
Depreciation and depletion ....................... 235,226
Deferred income taxes ............................ 31,544
Earnings rom equity inv., net of distributions.... (8,467)
Other - net....................................... 121,405
Changes in Components of working capital:
Accounts receivable .............................. (139,548)
Gas inventory .................................... 40,786
Prepayments ...................................... (8,242)
Accounts payable ................................. 230,766
Accrued taxes .................................... 46,710
Accrued interest ................................. (12,077)
Estimated rate refunds ........................... (9,267)
Estimated supplier obligations ................... (1,483)
Under/Overrecovered gas costs .................... (33,315)
Exchange gas receivable/payable................... 47,275
Other working capital ............................ (48,798)
-------- -------- -------- --------- -------- ------------- ------------
Net Cash From Operations ............................. 761,759
======== ======== ======== ========= ======== ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 163
F-6 (7 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 7
CER (a) TCO CGT CLG (a) CKY Total
----------- --------- --------- ---------- --------- ----------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income ............................................ * 156,336 29,098 * 13,497 *
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .... - - -
Depreciation and depletion .......................... 82,325 19,507 7,463
Deferred income taxes ............................... 5,661 2,545 (1,463)
Earnings rom equity inv., net of distributions....... (7,788) 2,026 -
Other - net.......................................... 2,193 2,202 (358)
Changes in Components of working capital:
Accounts receivable ................................. 26,181 (1,555) 1,807
Gas inventory ....................................... - - 1,527
Prepayments ......................................... (280) (171) (273)
Accounts payable .................................... 35,432 2,108 (1,589)
Accrued taxes ....................................... 16,449 1,057 199
Accrued interest .................................... (1,917) 37 237
Estimated rate refunds .............................. (640) (6,166) (1,024)
Estimated supplier obligations ...................... (1,483) - -
Under/Overrecovered gas costs ....................... - - 3,118
Exchange gas receivable/payable...................... (13,765) 3,340 11,112
Other working capital ............................... (15,108) (434) 125
----------- --------- --------- ---------- --------- ----------
Net Cash From Operations ................................ 283,596 53,594 34,378
=========== ========= ========= ========== ========= ==========
</TABLE>
(a) CER includes five subsidiaries and CLG includes one subsidiary as noted in
Item 1. Consolidating financial statements of CER and CLG are presented
herewith in Item 10, Exhibits F-1F through F-6F and F-1C through F-6C,
respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 164
F-6 (8 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 8
COH CMD CPA CGV CG Total
--------- --------- --------- --------- -------- ----------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income ............................................ 58,945 3,387 21,412 12,729 * *
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .... - - - -
Depreciation and depletion .......................... 46,942 2,191 15,011 10,551
Deferred income taxes ............................... 28,642 324 (474) (1,336)
Earnings rom equity inv., net of distributions....... - - - -
Other - net.......................................... 8,517 (418) 467 1,794
Changes in Components of working capital:
Accounts receivable ................................. 46,767 (463) 16,756 7,920
Gas inventory ....................................... 45,736 (589) (4,346) (1,542)
Prepayments ......................................... (472) 152 (401) (37)
Accounts payable .................................... (37,765) 1,748 2,102 (1,695)
Accrued taxes ....................................... 5,797 597 962 604
Accrued interest .................................... (111) 1 (18) (57)
Estimated rate refunds .............................. (505) (323) (3,992) 3,383
Estimated supplier obligations ...................... - - - -
Under/Overrecovered gas costs ....................... (57,320) (599) 10,477 11,009
Exchange gas receivable/payable...................... 37,279 1,833 15,008 2,569
Other working capital ............................... (11,766) (352) (1,585) (1,764)
--------- --------- --------- --------- -------- ----------
Net Cash From Operations ................................ 170,686 7,489 71,379 44,128
========= ========= ========= ========= ======== ==========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 165
F-6 (9 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 9
CS CIC CES (a) CPC CEC (a) Total
-------- ------- ---------- --------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) .................................. 2,237 * * * * *
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries . -
Depreciation and depletion ....................... 4,958
Deferred income taxes ............................ (1,670)
Earnings rom equity inv., net of distributions.... -
Other - net....................................... (2,281)
Changes in Components of working capital:
Accounts receivable .............................. (1,880)
Gas inventory .................................... -
Prepayments ...................................... (199)
Accounts payable ................................. (4,810)
Accrued taxes .................................... 2,364
Accrued interest ................................. -
Estimated rate refunds ........................... -
Estimated supplier obligations ................... -
Under/Overrecovered gas costs .................... -
Exchange gas receivable/payable................... -
Other working capital ............................ 1,409
-------- ------- ---------- --------- ----------- ------------
Net Cash From Operations ............................. 128
======== ======= ========== ========= =========== ============
</TABLE>
(a) CES includes four subsidiaries and CEC includes eleven subsidiaries as
noted in Item 1. Consolidating financial statements of CES and CEC are
presented herewith in Item 10, Exhibits F-1D through F-6D and F-1A through
F-6A, respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 166
F-6 (10 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 10
CCC (a) CAT CNS (a) CPL (a) Total
----------- --------- ----------- ----------- -------------
<S> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ..................................... * * * * *
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries ....
Depreciation and depletion ..........................
Deferred income taxes ...............................
Earnings rom equity inv., net of distributions.......
Other - net..........................................
Changes in Components of working capital:
Accounts receivable .................................
Gas inventory .......................................
Prepayments .........................................
Accounts payable ....................................
Accrued taxes .......................................
Accrued interest ....................................
Estimated rate refunds ..............................
Estimated supplier obligations ......................
Under/Overrecovered gas costs .......................
Exchange gas receivable/payable......................
Other working capital ...............................
----------- --------- ----------- ----------- -------------
Net Cash From Operations ................................
=========== ========= =========== =========== =============
</TABLE>
(a) CCC and CNS include two subsidiaries and CPL includes one subsidiary as
noted in Item 1. Consolidating financial statements of CCC, CNS and CPL are
presented herewith in Item 10, Exhibits F-1B through F-6B, F-1E through F-6E
and F-1G through F-6G, respectively.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 167
F-6A (1 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A F-6A Consolidating CEC
Page 2 Page 3 Combined Entries Consolidated
-------- -------- ---------------- ------------------ -----------------
<S> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6A Page 4 for detail) ... * * * * *
-------- -------- ---------------- ------------------ -----------------
Investment Activities
Capital expenditures ..................................
Contribution - partnerships ...........................
Purchase of investment assets .........................
Other investments - net ...............................
-------- -------- ---------------- ------------------ -----------------
Net Investment Activities ...............................
-------- -------- ---------------- ------------------ -----------------
Financing Activities
Dividends paid ........................................
Capital contributions .................................
Retirement of long-term debt ..........................
Issuance of common stock -
Issued by Registrant ................................
Issued by Subsidiary to Registrant ..................
Issuance of long-term debt -
Issued by Registrant ................................
Issued by Subsidiary to Registrant ..................
Issuance (Repayment) of short-term debt ...............
Other financing activities ............................
-------- -------- ---------------- ------------------ -----------------
Net Financing Activities ................................
-------- -------- ---------------- ------------------ -----------------
Increase in cash and temporary cash investments .........
Cash and temporary cash investments at
beginning of year ......................................
-------- -------- ---------------- ------------------ -----------------
Cash and temporary cash investments at
end of year (a) ........................................
======== ======== ================ ================== =================
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income tax (net of refunds)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 168
F-6A (2 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A Page 2
CBG CBL CGG CGP CLP CEC Total
--------- --------- --------- --------- --------- --------- -----------
<S> <C> <S> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6A Page 5 for detail) ... * * * * * * *
--------- --------- --------- --------- --------- --------- -----------
Investment Activities
Capital expenditures ..................................
Contribution - partnerships ...........................
Purchase of investment assets .........................
Other investments - net ...............................
--------- --------- --------- --------- --------- --------- -----------
Net Investment Activities ...............................
--------- --------- --------- --------- --------- --------- -----------
Financing Activities
Dividends paid ........................................
Capital contributions .................................
Retirement of long-term debt ..........................
Issuance of common stock -
Issued by Registrant ................................
Issued by Subsidiary to Registrant ..................
Issuance of long-term debt -
Issued by Registrant ................................
Issued by Subsidiary to Registrant ..................
Issuance (Repayment) of short-term debt ...............
Other financing activities ............................
--------- --------- --------- --------- --------- --------- -----------
Net Financing Activities ................................
--------- --------- --------- --------- --------- --------- -----------
Increase in cash and temporary cash investments .........
Cash and temporary cash investments at
beginning of year ......................................
--------- --------- --------- --------- --------- --------- -----------
Cash and temporary cash investments at
end of year (a) ........................................
========= ========= ========= ========= ========= ========= ===========
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income tax (net of refunds)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 169
F-6A (3 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A Page 3
CVG CVL CRL CEH CEL CGR Total
--------- --------- --------- --------- --------- --------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6A Page 6 for detail) ... * * * * * * *
--------- --------- --------- --------- --------- --------- -----------
Investment Activities
Capital expenditures ..................................
Contribution - partnerships ...........................
Purchase of investment assets .........................
Other investments - net ...............................
--------- --------- --------- --------- --------- --------- -----------
Net Investment Activities ...............................
--------- --------- --------- --------- --------- --------- -----------
Financing Activities
Dividends paid ........................................
Capital contributions .................................
Retirement of long-term debt ..........................
Issuance of common stock -
Issued by Registrant ................................
Issued by Subsidiary to Registrant ..................
Issuance of long-term debt -
Issued by Registrant ................................
Issued by Subsidiary to Registrant ..................
Issuance (Repayment) of short-term debt ...............
Other financing activities ............................
--------- --------- --------- --------- --------- --------- -----------
Net Financing Activities ................................
--------- --------- --------- --------- --------- --------- -----------
Increase in cash and temporary cash investments .........
Cash and temporary cash investments at
beginning of year ......................................
--------- --------- --------- --------- --------- --------- -----------
Cash and temporary cash investments at
end of year (a) ........................................
========= ========= ========= ========= ========= ========= ===========
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income tax (net of refunds)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 170
F-6A (4 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A F-6A Consolidating CEC
Page 5 Page 6 Combined Entries Consolidated
-------- -------- ---------------- ------------- -----------------
<S> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) .................................. * * * * *
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .
Depreciation and depletion .......................
Deferred income taxes ............................
Earnings from equity inv., net of distributions ..
Other - net ......................................
Changes in Components of working capital:
Accounts receivable ..............................
Gas inventory ....................................
Prepayments ......................................
Accounts payable .................................
Accrued taxes ....................................
Accrued interest .................................
Estimated rate refunds ...........................
Estimated supplier obligations....................
Under/Overrecovered gas costs ....................
Exchange gas receivable/payable...................
Other working capital ............................
-------- -------- ---------------- ------------- -----------------
Net Cash From Operations .............................
======== ======== ================ ============= =================
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 171
F-6A (5 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A Page 5
CBG CBL CGG CGP CLP CEC Total
--------- --------- --------- --------- --------- --------- -----------
<C> <C> <S> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ..................................... * * * * * * *
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries ....
Depreciation and depletion ..........................
Deferred income taxes ...............................
Earnings from equity inv., net of distributions .....
Other - net .........................................
Changes in Components of working capital:
Accounts receivable .................................
Gas inventory .......................................
Prepayments .........................................
Accounts payable ....................................
Accrued taxes .......................................
Accrued interest ....................................
Estimated rate refunds ..............................
Estimated supplier obligations.......................
Under/Overrecovered gas costs .......................
Exchange gas receivable/payable......................
Other working capital ...............................
--------- --------- --------- --------- --------- --------- -----------
Net Cash From Operations ................................
========= ========= ========= ========= ========= ========= ===========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 172
F-6A (6 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A Page 6
CVG CVL CRL CEH CEL CGR Total
--------- --------- --------- --------- --------- --------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) .................................. * * * * * * *
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .
Depreciation and depletion .......................
Deferred income taxes ............................
Earnings from equity inv., net of distributions ..
Other - net ......................................
Changes in Components of working capital:
Accounts receivable ..............................
Gas inventory ....................................
Prepayments ......................................
Accounts payable .................................
Accrued taxes ....................................
Accrued interest .................................
Estimated rate refunds ...........................
Estimated supplier obligations....................
Under/Overrecovered gas costs ....................
Exchange gas receivable/payable...................
Other working capital ............................
--------- --------- --------- --------- --------- --------- -----------
Net Cash From Operations .............................
========= ========= ========= ========= ========= ========= ===========
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 173
F-6B (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Group Capital Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CCC
TGT CTC CCC Combined Entries Consolidated
--------- --------- --------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (refer to F-6B (2 of 2)).. * * * * * *
--------- --------- --------- -------- ------------- ------------
Investment Activities
Capital expenditures ............................
Contribution - partnerships .....................
Purchase of investment assets ...................
Other investments - net .........................
--------- --------- --------- -------- ------------- ------------
Net Investment Activities .........................
--------- --------- --------- -------- ------------- ------------
Financing Activities
Dividends paid ..................................
Capital contributions ...........................
Retirement of long-term debt ....................
Issuance of common stock -
Issued by Registrant ..........................
Issued by Subsidiary to Registrant ............
Issuance of long-term debt -
Issued by Registrant ..........................
Issued by Subsidiary to Registrant ............
Issuance (Repayment) of short-term debt .........
Other financing activities ......................
--------- --------- --------- -------- ------------- ------------
Net Financing Activities ..........................
--------- --------- --------- -------- ------------- ------------
Increase in cash and temporary cash investments ...
Cash and temporary cash investments at
beginning of year ................................
--------- --------- --------- -------- ------------- ------------
Cash and temporary cash investments at
end of year (a) ..................................
========= ========= ========= ======== ============= ============
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income taxes (net of refunds)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 174
F-6B (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Group Capital Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CCC
TGT CTC CCC Combined Entries Consolidated
--------- --------- --------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) .............................. * * * * * *
Items not requiring (providing) cash:
Equity in undistributed earnings of
subsidiaries ...............................
Depreciation and depletion ...................
Deferred income taxes ........................
Earnings from equity inv., net of
distributions ..............................
Other - net ..................................
Changes in Components of working capital:
Accounts receivable ..........................
Gas inventory ................................
Prepayments ..................................
Accounts payable .............................
Accrued taxes ................................
Accrued interest .............................
Estimated rate refunds .......................
Estimated supplier obligations ...............
Under/Overrecovered gas costs ................
Exchange gas receivable/payable...............
Other working capital ........................
--------- --------- --------- -------- ------------- ------------
Net Cash From Operations .........................
========= ========= ========= ======== ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 175
F-6C (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CLG
CLNG CLG Combined Entries Consolidated
--------- ---------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C>
Net Cash From Operations (refer to F-6C (2 of 2))......... * * * * *
--------- ---------- -------- ------------- ------------
Investment Activities
Capital expenditures ...................................
Contribution - partnerships ............................
Purchase of investment assets ..........................
Other investments - net ................................
--------- ---------- -------- ------------- ------------
Net Investment Activities ................................
--------- ---------- -------- ------------- ------------
Financing Activities
Dividends paid .........................................
Capital contributions ..................................
Retirement of long-term debt ...........................
Issuance of common stock -
Issued by Registrant .................................
Issued by Subsidiary to Registrant ...................
Issuance of long-term debt -
Issued by Registrant .................................
Issued by Subsidiary to Registrant ...................
Issuance (Repayment) of short-term debt ................
Other financing activities .............................
--------- ---------- -------- ------------- ------------
Net Financing Activities ................................
--------- ---------- -------- ------------- ------------
Increase in cash and temporary cash investments ..........
Cash and temporary cash investments at
beginning of year .......................................
--------- ---------- -------- ------------- ------------
Cash and temporary cash investments at
end of year (a) .........................................
--------- ---------- -------- ------------- ------------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income taxes (net of refunds)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 176
F-6C (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CLG
CLNG CLG Combined Entries Consolidated
--------- ---------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ...................................... * * * * *
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .....
Depreciation and depletion ...........................
Deferred income taxes ................................
Earnings from equity inv., net of distributions ......
Other - net ..........................................
Changes in Components of working capital:
Accounts receivable ..................................
Gas inventory ........................................
Prepayments ..........................................
Accounts payable .....................................
Accrued taxes ........................................
Accrued interest .....................................
Estimated rate refunds ...............................
Estimated supplier obligations .......................
Under/Overrecovered gas costs ........................
Exchange gas receivable/payable.......................
Other working capital ................................
--------- ---------- -------- ------------- ------------
Net Cash From Operations .................................
========= ========== ======== ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 177
F-6D (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Statement of Cash Flows as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CES
CEM CPM CSP ECC CES Combined Entries Consolidated
------- ------- ------- ------- ------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Net Cash From Operations
(refer to F-6D (2 of 2)).................. * * * * * * * *
------- ------- ------- ------- ------- -------- ------------- ------------
Investment Activities
Capital expenditures ....................
Contribution - partnerships .............
Purchase of investment assets ...........
Other investments - net .................
------- ------- ------- ------- ------- -------- ------------- ------------
Net Investment Activities .................
------- ------- ------- ------- ------- -------- ------------- ------------
Financing Activities
Dividends paid ..........................
Capital contributions ...................
Retirement of long-term debt ............
Issuance of common stock -
Issued by Registrant ..................
Issued by Subsidiary to Registrant ....
Issuance of long-term debt -
Issued by Registrant ..................
Issued by Subsidiary to Registrant ....
Issuance (Repayment) of short-term debt .
Other financing activities ..............
------- ------- ------- ------- ------- -------- ------------- ------------
Net Financing Activities ..................
------- ------- ------- ------- ------- -------- ------------- ------------
Increase in cash and temporary cash
investments ..............................
Cash and temporary cash investments at
beginning of year ........................
------- ------- ------- ------- ------- -------- ------------- ------------
Cash and temporary cash investments at
end of year (a) .........................
======= ======= ======= ======= ======= ======== ============= ============
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income taxes (net of refunds)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 178
F-6D (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Statement of Cash Flows as of December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CES
CEM CPM CSP ECC CES Combined Entries Consolidated
------- ------- ------- ------- ------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ....................... * * * * * * * *
Items not requiring (providing) cash:
Equity in undistributed earnings of
subsidiaries .........................
Depreciation and depletion ............
Deferred income taxes .................
Earnings from equity inv., net of
distributions ........................
Other - net ...........................
Changes in Components of working capital:
Accounts receivable ...................
Gas inventory .........................
Prepayments ...........................
Accounts payable ......................
Accrued taxes .........................
Accrued interest ......................
Estimated rate refunds ................
Estimated supplier obligations ........
Under/Overrecovered gas costs .........
Exchange gas receivable/payable........
Other working capital .................
------- ------- ------- ------- ------- -------- ------------- ------------
Net Cash From Operations ..................
======= ======= ======= ======= ======= ======== ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 179
F-6E (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CNS
CMC EN CNS Combined Entries Consolidated
--------- --------- --------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (refer to F-6E (2 of 2)).. * * * * * *
--------- --------- --------- -------- ------------- ------------
Investment Activities
Capital expenditures ...........................
Contribution - partnerships .....................
Purchase of investment assets ...................
Other investments - net .........................
--------- --------- --------- -------- ------------- ------------
Net Investment Activities .........................
--------- --------- --------- -------- ------------- ------------
Financing Activities
Dividends paid ..................................
Capital contributions ...........................
Retirement of long-term debt ....................
Issuance of common stock -
Issued by Registrant ..........................
Issued by Subsidiary to Registrant ............
Issuance of long-term debt -
Issued by Registrant ..........................
Issued by Subsidiary to Registrant ............
Issuance (Repayment) of short-term debt .........
Other financing activities ......................
--------- --------- --------- -------- ------------- ------------
Net Financing Activities ..........................
--------- --------- --------- -------- ------------- ------------
Increase in cash and temporary cash investments ...
Cash and temporary cash investments at
beginning of year ................................
--------- --------- --------- -------- ------------- ------------
Cash and temporary cash investments at
end of year (a) .................................
========= ========= ========= ======== ============= ============
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income taxes (net of refunds)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes inter-company money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 180
F-6E (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CNS
CMC EN CNS Combined Entries Consolidated
--------- --------- --------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) .............................. * * * * * *
Items not requiring (providing) cash:
Equity in undistributed earnings of
subsidiaries ...............................
Depreciation and depletion ...................
Deferred income taxes ........................
Earnings from equity inv., net of
distributions ..............................
Other - net ..................................
Changes in Components of working capital:
Accounts receivable ..........................
Gas inventory ................................
Prepayments ..................................
Accounts payable .............................
Accrued taxes ................................
Accrued interest .............................
Estimated rate refunds .......................
Estimated supplier obligations ...............
Under/Overrecovered gas costs ................
Exchange gas receivable/payable...............
Other working capital ........................
--------- --------- --------- -------- ------------- ------------
Net Cash From Operations .........................
========= ========= ========= ======== ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 181
F-6F (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Resources, Inc. and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CER
CNR HH CU AD AL CER Combined Entries Consolidated
------- ------- ------- ------- ------- ------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Net Cash From Operations
(refer to F-6C (2 of 2))........... * * * * * * * * *
======= ======= ======= ======= ======= ======= ======== ============= ============
Investment Activities
Capital expenditures .............
Contribution - partnerships.......
Purchase of investment assets.....
Other investments - net ..........
------- ------- ------- ------- ------- ------- -------- ------------- ------------
Net Investment Activities ..........
------- ------- ------- ------- ------- ------- -------- ------------- ------------
Financing Activities
Dividends paid ...................
Capital contributions ............
Retirement of long-term debt .....
Issuance of common stock -
Issued by Registrant ...........
Issued by Subsidiary to
Registrant ....................
Issuance of long-term debt -
Issued by Registrant ...........
Issued by Subsidiary to
Registrant.....................
Issuance (Repayment) of
short-term debt..................
Other financing activities........
------- ------- ------- ------- ------- ------- -------- ------------- ------------
Net financing activities ...........
------- ------- ------- ------- ------- ------- -------- ------------- ------------
Increase (Decrease) in cash and
temporary cash investments ........
Cash and temporary cash
investments at beginning of year ..
------- ------- ------- ------- ------- ------- -------- ------------- ------------
Cash and temporary cash
investments at end of year (a) ....
------- ------- ------- ------- ------- ------- -------- ------------- ------------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income taxes (net of refunds)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 182
F-6F (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Resources, Inc. and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CER
CNR HH CU AD AL CER Combined Entries Consolidated
------- ------- ------- ------- ------- ------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ............... * * * * * * * * *
Items not requiring
(providing) cash:
Equity in undistributed
earnings of subsidiaries .....
Depreciation and depletion ....
Deferred income taxes .........
Earnings from equity inv.,
net of distributions..........
Other - net ...................
Changes in Components of
working capital:
Accounts receivable ...........
Prepayments ...................
Accounts payable ..............
Accrued taxes .................
Accrued interest ..............
Estimated rate refunds ........
Estimated supplier obligations
Under/Overrecovered gas
costs ........................
Exchange gas receivable/
payable.......................
Other working capital .........
------- ------- ------- ------- ------- ------- -------- ------------- ------------
Net Cash From Operations ..........
======= ======= ======= ======= ======= ======= ======== ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 183
F-6G (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Pipeline Company and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CPL
CDW CPL Combined Entries Consolidated
--------- --------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C>
Net Cash From Operations (refer to F-6C (2 of 2))............ * * * * *
--------- --------- -------- ------------- ------------
Investment Activities
Capital expenditures ......................................
Contribution - partnerships ...............................
Purchase of investment assets .............................
Other investments - net ...................................
--------- --------- -------- ------------- ------------
Net Investment Activities ...................................
--------- --------- -------- ------------- ------------
Financing Activities
Dividends paid ............................................
Capital contributions .....................................
Retirement of long-term debt ..............................
Issuance of common stock -
Issued by Registrant ....................................
Issued by Subsidiary to Registrant ......................
Issuance of long-term debt -
Issued by Registrant ....................................
Issued by Subsidiary to Registrant ......................
Issuance (Repayment) of short-term debt ...................
Other financing activities ................................
--------- --------- -------- ------------- ------------
Net Financing Activities ...................................
--------- --------- -------- ------------- ------------
Increase in cash and temporary cash investments .............
Cash and temporary cash investments at beginning of year ....
--------- --------- -------- ------------- ------------
Cash and temporary cash investments at end of year (a) ......
--------- --------- -------- ------------- ------------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income taxes (net of refunds)
</TABLE>
(a) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 184
F-6G (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Pipeline Company and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1998
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consolidating CPL
CDW CPL Combined Entries Consolidated
--------- --------- -------- ------------- ------------
<S> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ........................................ * * * * *
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .......
Depreciation and depletion .............................
Deferred income taxes ..................................
Earnings from equity inv., net of distributions ........
Other - net ............................................
Changes in Components of working capital:
Accounts receivable ....................................
Gas inventory ..........................................
Prepayments ............................................
Accounts payable .......................................
Accrued taxes ..........................................
Accrued interest .......................................
Estimated rate refunds .................................
Estimated supplier obligations .........................
Under/Overrecovered gas costs ..........................
Exchange gas receivable/payable.........................
Other working capital ..................................
--------- --------- -------- ------------- ------------
Net Cash From Operations ...................................
========= ========= ======== ============= ============
</TABLE>
* CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 185
SIGNATURE
The registrant has duly caused this annual report to be signed on its
behalf by the undersigned thereunto duly authorized pursuant to the
requirements of the Public Utility Holding Company Act of 1935, such company
being a registered holding company.
<TABLE>
<S> <C>
COLUMBIA ENERGY GROUP
By: /s/J. W. Grossman
-----------------------------
J. W. Grossman
Vice President and Controller
Date: April 30, 1999
</TABLE>
76
<PAGE> 186
Item 10. Continued
Exhibits filed as a part of this Report:
A - Securities Exchange Act of 1934 Reports incorporated by
reference
B - Index to Corporate Organization & By-Laws Exhibits in
the Report filed herewith and/or filed under cover of
Form SE
C - Indentures or Contracts incorporated by reference
D - Tax Allocation Agreement for 1998 filed herewith
E - Other Documents Prescribed by Rule or Order
F - Report of Independent Public Accountants filed herewith
G - Financial Data Tables
H - Organizational Chart of Exempt Wholesale Generators or
Foreign Utility Holding Companies
I - Audited Financial Statements and Analytical Reviews and
Conclusions Regarding Exempt Wholesale Generators or
Foreign Utility Holding Companies
77
<PAGE> 187
EXHIBIT A
The financial statements listed below included in Columbia
Energy Group's 1998 Form 10-K filed with the Commission on March
26, 1999 (File No. 1-1098) are incorporated herein by reference.
The report of Arthur Andersen LLP, independent public
accountants, dated February 11, 1999 regarding such financial
statements is included on Exhibit F filed herewith. The
Corporation's 1998 Annual Report to Shareholders is filed under
cover of Form SE.
Financial Statements:
<TABLE>
<CAPTION>
Annual
Report
Page
No.
------
<S> <C>
Statement of Consolidated Income for the year ended December 31, 1998......................... 43
Consolidated Balance Sheet as of December 31, 1998 ............................................ 44-45
Consolidated Statement of Cash Flows for the year ended December 31, 1998...................... 46
Statement of Consolidated Common Stock Equity for the year ended December 31, 1998............. 47
Notes to Consolidated Financial Statements .................................................... 48-69
</TABLE>
<PAGE> 188
EXHIBIT B
Exhibit B. Index to corporate organization and by-laws exhibits filed pursuant
to the Public Utility Holding Company Act of 1935.
<TABLE>
<CAPTION>
Exhibit B Notes
------------------------------------
Articles of By-Laws or
Incorporation Regulations
------------- --------------
<S> <C> <C>
Columbia Energy Group...................................................... (1) 1-B (2)
Atlantic Energy, Inc....................................................... (3) (4)
Columbia Atlantic Trading Corporation ..................................... (5) (6)
Columbia Coal Gasification Corporation..................................... (7) (8)
Columbia Energy Services Corporation....................................... (9) (10)
Columbia Energy Marketing Corporation ................................. (11) (12)
Columbia Energy Power Marketing Corporation............................ (13) (14)
Energy.com Corporation ................................................ 1-A (15) 2-B (16)
Columbia Service Partners, Inc. ....................................... (17) (18)
Columbia Assurance Agency, Inc. .................................... 2-A (19) 3-B (20)
Columbia Gas Development Corporation....................................... (21) (22)
Columbia Gas of Kentucky, Inc. ............................................ (23) (24)
Columbia Gas of Maryland, Inc. ............................................ (25) (26)
Columbia Gas of Ohio, Inc. ................................................ (27) (28)
Columbia Gas of Pennsylvania, Inc. ........................................ (29) (30)
Columbia Energy Group Service Corporation ................................. 3-A (31) (32)
Columbia Gas Transmission Corporation...................................... (33) (34)
Columbia Transmission Investment Corporation .......................... (35) (36)
Columbia Gulf Transmission Company ........................................ (37) (38)
Columbia Pipeline Corporation ............................................. 4-A (39) 4-B (40)
Columbia Deep Water Services Company.................................. 5-A (41) 5-B (42)
Columbia Insurance Corporation, Ltd........................................ (43) (44)
Columbia LNG Corporation .................................................. (45) (46)
CLNG Corporation....................................................... (47) (48)
Columbia Energy Resources, Inc............................................ 6-A (49) 6-B (50)
Columbia Natural Resources, Inc........................................ (51) (52)
Alamco, Inc............................................................ (53) (54)
Alamco-Delaware, Inc................................................... (55) (56)
Hawg Hauling & Disposal, Inc........................................... (57) (58)
Columbia Natural Resources Canada, Ltd................................. 7-A, 8-A (59) 7-B (60)
Columbia Networks Services Corporation..................................... (61) (62)
CNS Microwave, Inc..................................................... (63) (64)
Energy Net L.L.C....................................................... (65) (66)
Columbia Propane Corporation............................................... (67) (68)
Columbia Gas of Virginia, Inc.............................................. (69) (70)
Commonwealth Propane, Inc. ................................................ (71) (72)
Inland Gas Company, Inc., The ............................................. (73) (74)
Columbia Energy Group Capital Corporation ................................. 9-A (75) (76)
TriStar Gas Technologies, Inc. ........................................ (77) (78)
Columbia Transmission Communications Corporation. ..................... 10-A, 11-A (79) 8-B (80)
TriStar System Inc. ....................................................... 12-A (81) (82)
Columbia Electric Corporation.............................................. (83) (84)
Columbia Electric Pedrick General Corporation.......................... 13-A (85) (86)
Columbia Electric Pedrick Limited Corporation ......................... 14-A (87) (88)
</TABLE>
<PAGE> 189
<TABLE>
<S> <C> <C>
TriStar Fuel Cells Corporation ........................................ 15-A (89) (90)
Columbia Electric Binghamton General Corporation ...................... 16-A (91) (92)
Columbia Electric Binghamton Limited Corporation ...................... 17-A (93) (94)
TriStar Georgetown General Corporation ................................ 18-A (95) (96)
TriStar Georgetown Limited Corporation ................................ 19-A (97) (98)
Columbia Electric Vineland General Corporation......................... 20-A (99) (100)
Columbia Electric Vineland Limited Corporation......................... 21-A (101) (102)
Columbia Electric Rumford Limited Corporation.......................... 22-A (103) (104)
Columbia Electric Limited Holdings Corporation ........................ 23-A (105) (106)
Columbia Electric Liberty Corporation.................................. 24-A (107) (108)
</TABLE>
<PAGE> 190
EXHIBIT B (Continued)
NOTES:
(1) Restated Certificate of Incorporation as adopted by
action of the Board of Directors on October 19, 1988,
filed as Exhibit 1-A to Form U5S (1988); corrected
copy as of July 15, 1991, filed as Exhibit 1-A to Form
U5S (1991); restated copy as of November 28, 1995,
filed pursuant to Item 14 of Form 10-K (1995);
Certificate of Amendment of Certificate of
Incorporation of Columbia Energy Group, dated January
16, 1998, filed herewith as Exhibit 1-A to Form U5S
(1997).
(2) By-Laws as of May 28, 1986, filed as Exhibit 1-B to
Form U5S (1986); amendments dated May 13, 1987 and
November 18, 1987, filed as Exhibit B, pages 13-15, to
Form U5S (1987); amendment dated January 16, 1998,
filed as Exhibit 1-B to Form U5S (1998).
(3) Certificate of Incorporation of Atlantic Energy, Inc.
as amended through April 28, 1972, filed as Exhibit
1-A to Form U5S (1981).
(4) By-Laws of Atlantic Energy, Inc. as amended through
January 20, 1982, filed as Exhibit 1-B to Form U5S
(1981); amendment dated April 17, 1995, filed herewith
as Exhibit 1-B to form U5S (1996).
(5) CAT Restated Certificate of Incorporation as filed on
February 27, 1989, filed as Exhibit 2-A to Form U5S
(1988); amendment dated August 18, 1997, filed
herewith as Exhibit 2-A to Form U5S (1997).
(6) CAT By-Laws as amended effective February 27, 1989,
filed as Exhibit 1-B to Form U5S (1988).
(7) Certificate of Incorporation, as amended through
July 2, 1991, filed as Exhibit 2-A to Form U5S (1991).
(8) By-Laws, as amended to November 6, 1970, filed as Exhibit
2-B to Form U5S (1970).
(9) Certificate of Incorporation of Columbia Energy
Services Corporation (formerly The Inland Gas Company,
Inc.) dated June 25, 1993, filed under cover of Form
SE as Exhibit 1-B to Form U5S (1993).
(10) By-Laws of Columbia Energy Services Corporation dated
May 28, 1993, filed as Exhibit 2-B to Form U5S (1993).
(11) Certificate of Incorporation of Columbia Energy Marketing
Corporation dated August 3, 1995, filed as Exhibit 1-A
to Form U5S (1995).
(12) By-Laws of Columbia Energy Marketing Corporation dated
August 3, 1995, filed as Exhibit 1-B to Form U5S (1995).
(13) Certificate of Incorporation of Columbia Power Marketing
Corporation dated June 19, 1997 filed herewith as Exhibit
3-A and amendment changing name to Columbia Energy Power
Marketing Corporation dated March 2, 1998, filed herewith
as Exhibit 4-A to Form U5S (1997).
(14) By laws of Columbia Power Marketing Corporation as
adopted June 23, 1997 filed herewith as Exhibit 1-B to
Form U5S (1997).
(15) Certificate of Incorporation of Energy.com Corporation
dated December 15, 1997, filed as Exhibit 1-A to Form U5S
(1998).
<PAGE> 191
(16) By-Laws of Energy.com Corporation dated January 5, 1998,
filed as Exhibit 2-B to Form U5S (1998).
(17) Certificate of Incorporation of Columbia Service
Partners, Inc. dated March 21, 1996 file herewith as
Exhibit 1-A to Form U5S (1996).
(18) By laws of Columbia Service Partners, Inc. as adopted
April 17, 1996 file herewith as Exhibit 2-B to Form U5S
(1996).
(19) Article of Incorporation of Columbia Assurance Agency,
Inc., dated June 23, 1997, filed as Exhibit 2-A to Form
U5S (1998).
(20) Code of Regulations of Columbia Assurance Agency, Inc.,
dated July 30, 1997, filed as Exhibit 3-B to Form U5S
(1998).
(21) Certificate of Incorporation as amended, filed as
Exhibit 2-A to Form U5S (1970). Certificate of Merger
of The Preston Oil Company into Columbia Gas
Development Corporation dated January 13, 1970, filed
as Exhibit 3-A to Form U5S (1970); amendment dated May
18, 1972, filed as Exhibit 1-A to Form U5S (1972);
amendment dated June 26, 1972, filed as Exhibit 2-A to
Form U5S (1972); amendment dated October 11, 1972,
filed as Exhibit 3-A to Form U5S (1972); amendment
dated January 16, 1973, filed as Exhibit 1-A to Form
U5S (1973); amendment dated February 20, 1974, filed
as Exhibit 4-A to Form U5S (1974); amendment dated May
20, 1975, filed as Exhibit 1-A to Form U5S (1975).
Certificate of Merger of Commonwealth Energy Company
into Columbia Gas Development Corporation dated
November 19, 1981, filed as Exhibit 2-A to Form U5S
(1981); amendment dated October 24, 1983, filed as
Exhibit 2-A to Form U5S (1983).
(22) By-Laws, as amended to January 13, 1970, filed as
Exhibit 3-B to Form U5S (1970); amendment dated August
14, 1973, filed as Exhibit 1-B to Form U5S (1973);
amendment dated September 13, 1983, filed as Exhibit
1-B to Form U5S (1983); amendment dated May 16, 1986,
filed as Exhibit 2-B to Form U5S (1986); amendment
dated December 1, 1988, filed as Exhibit 2-B to Form
U5S (1988).
(23) Articles of Incorporation, as amended to January 1,
1958, filed as Exhibit 2-A to Form U5S (1957);
amendment dated December 21, 1981, filed as Exhibit
3-A to Form U5S (1981); amendment dated November 15,
1988, filed as Exhibit 2-A to Form U5S (1988);
amendment dated March 13, 1995, filed as Exhibit 2-A
to Form U5S (1995); amendment dated February 15, 1995,
filed as Exhibit 3-A to Form U5S (1995); amendment
dated January 12, 1996, filed as Exhibit 4-A to Form
U5S (1995).
(24) By-Laws, as amended to September 1, 1968, filed as
Exhibit 4-B to Form U5S (1968); amendment dated June
16, 1970, filed as Exhibit 4-B to Form U5S (1970);
amendment dated September 24, 1975, filed as Exhibit
1-B to Form U5S (1975); amendment dated May 4, 1977,
filed as Exhibit 3-B to Form U5S (1977); amendment
dated May 1, 1985, filed as Exhibit 2-B to Form U5S
(1985); amendment dated December 8, 1988, filed as
Exhibit 3-B to Form U5S (1988); amendment dated June
15, 1989, filed as Exhibit 1-B to Form U5S (1989);
amendment dated January 9, 1996 filed as Exhibit 2-B
to Form U5S (1995); amendment dated November 1, 1997,
filed herewith as Exhibit 2-B to Form U5S (1997).
(25) Certificate of Incorporation as adopted July 1, 1958,
filed as Exhibit 1-A to Form U5S (1961); amendment
dated January 17, 1980, filed as Exhibit 1-A to Form
U5S (1979); amendment dated February 15, 1995 filed as
Exhibit 5A to Form U5S (1995).
<PAGE> 192
(26) By-Laws, as amended to May 2, 1972, filed as Exhibit
4-B to Form U5S (1972); amendment dated May 1, 1985,
filed as Exhibit 3-B to Form U5S (1985); amendment
dated December 8, 1988, filed as Exhibit 4-B to Form
U5S (1988); amendment dated June 15, 1989, filed as
Exhibit 2-B to Form U5S (1989); amendment dated
January 9, 1996 filed as Exhibit 3-B to Form U5S
(1995); amendment dated June 30, 1997, filed herewith
as Exhibit 3-B and amendment dated November 1, 1997,
filed herewith as Exhibit 4-B to Form U5S (1997).
(27) Articles of Incorporation as adopted October 6, 1961,
filed as Exhibit 1-A to Form U5S (1964); amendment
dated December 27, 1963, filed as Exhibit 2-A to Form
U5S (1964); amendment dated February 21, 1964, filed
as Exhibit 3-A to Form U5S (1964); Certificate of
Merger of Columbia Gas of Ohio, Inc. and The Ohio
Valley Gas Company effective December 31, 1974, filed
as Exhibit 5-A to Form U5S (1974); amendment dated
January 8, 1982, filed as Exhibit 2-A to Form U5S
(1982); amendment dated February 16, 1995, filed as
exhibit 6-A to Form U5S (1995).
(28) Regulations as adopted October 16, 1961, filed as
Exhibit 2-B to Form U5S (1964); amendment dated August
19, 1968, filed as Exhibit 5-B to Form U5S (1968);
amendment dated May 1, 1985, filed as Exhibit 5-B to
Form U5S (1985); amendment dated December 9, 1985,
filed as Exhibit 6-B to Form U5S (1985); amendment
dated December 8, 1988, filed as Exhibit 6-B to Form
U5S (1988); amendment dated June 15, 1989, filed as
Exhibit 4-B to Form U5S (1989); amendment dated
January 9, 1996, filed as Exhibit 4-B to Form U5S
(1995); amendment dated November 1, 1997, filed
herewith as Exhibit 5-B to Form U5S (1997).
(29) Articles of Incorporation as adopted during the year
1960, filed as Exhibit 1-A to Form U5S (1962);
amendment dated December 21, 1981, filed as Exhibit
4-A to Form U5S (1981); amendment dated February 15,
1995, filed as Exhibit 7-A to Form U5S (1995).
(30) By-Laws, as amended to May 2, 1972, filed as Exhibit
6-B to Form U5S (1972); amendment dated May 1, 1985,
filed as Exhibit 7-B to Form U5S (1985); amendment
dated December 8, 1988, filed as Exhibit 7-B to Form
U5S (1988); amendment dated June 15, 1989, filed as
Exhibit 5-B to Form U5S (1989); amendment dated
January 9, 1996, filed as Exhibit 5-B to Form U5S
(1995); amendment dated November 1, 1997, filed
herewith as Exhibit 6-B to Form U5S (1997).
(31) Certificate of Incorporation, as amended through May
17, 1991, filed as Exhibit 3-A to Form U5S (1991);
amendment dated June 30, 1997, filed herewith as
Exhibit 5-A to Form U5S (1997); amendment dated
January 16, 1998, filed herewith as Exhibit 3-A to
Form U5S (1998).
(32) By-Laws, as amended February 10, 1988, filed as
Exhibit 8-B to Form U5S (1988); amendment dated
December 29, 1997, filed herewith as Exhibit 7-B to
Form U5S (1997).
(33) Restated Certificate of Incorporation of Columbia Gas
Transmission Corporation dated March 3, 1982, filed as
Exhibit 3-A to Form U5S (1982); amendment dated
October 22, 1984, filed as Exhibit 3-A to Form U5S
(1984); Certificate of Merger of Commonwealth Gas
Pipeline Corp. into Columbia Gas Transmission Corp.
dated October 26, 1990, filed as Exhibit 1-A to Form
U5S (1990); amendment dated November 28, 1995, filed
herewith as Exhibit 6-A and amendment dated June 30,
1997, filed herewith as Exhibit 7-A to Form U5S
(1997).
(34) By-Laws of Columbia Gas Transmission Corporation as
amended through May 9, 1991, filed as Exhibit 1-B to
Form U5S (1991); amendment dated January 17, 1996,
file herewith as Exhibit 3-B to Form U5S (1996).
<PAGE> 193
(35) Certificate of Incorporation as adopted March 18, 1992,
filed as Exhibit 4-A to Form U5S (1991).
(36) By-Laws as of March 18, 1992, filed as Exhibit 4-B to
Form U5S (1991).
(37) Certificate of Incorporation as adopted May 26, 1958,
filed as Exhibit 3-A to Form U5S (1958); amendment
dated November 10, 1981, filed as Exhibit 6-A to Form
U5S (1981); amendment dated December 23, 1994, filed
as Exhibit 2-A to Form U5S (1994); amendment dated
June 30, 1997, filed herewith as Exhibit 8-A to Form
U5S (1997).
(38) By-Laws of Columbia Gulf Transmission Company as amended
through May 9, 1991, filed as Exhibit 2-B to Form U5S
(1991); amendment dated January 17, 1996, file herewith
as Exhibit 4B to Form U5S (1996).
(39) Certificate of Incorporation of Columbia Pipeline
Corporation dated October 13, 1998, filed as Exhibit
4-A to Form U5S (1998).
(40) By-Laws of Columbia Pipeline Corporation dated November
1, 1998, filed as Exhibit 4-B to Form U5S (1998).
(41) Certificate of Incorporation of Columbia Deep Water
Services Company dated January 7, 1998, filed as Exhibit
5-A to Form U5S (1998).
(42) By-Laws of Columbia Deep Water Services Company dated
January 8, 1998, filed as Exhibit 5-B to Form U5S (1998).
(43) Certificate of Incorporation of Columbia Insurance
Corporation, Ltd. dated November 1, 1996, filed
herewith as Exhibit 2-A to Form U5S (1996).
(44) By-laws of Columbia Insurance Corporation, Ltd. as
adopted November 4, 1996, file herewith as Exhibit 5-B to
Form U5S (1996).
(45) Restated Certificate of Incorporation of Columbia LNG
Corporation as amended to December 18, 1989, filed as
Exhibit 18-A to Form U5S (1989); amendments dated
January 31, 1992, November 2, 1992, June 13, 1994 and
April 13, 1995 filed as Exhibits 3-A-1, 3-A-2, 3-A-3
and 3-A-4, respectively to Form U5S; amendment dated
January 15, 1997, filed herewith as Exhibit 9-A to
Form U5S (1997).
(46) By-Laws of Columbia LNG Corporation as amended through
October 10, 1990, filed as Exhibit 1-B to Form U5S
(1990); amendment dated July 27, 1992, filed as
Exhibit 3-B to Form U5S (1992); amendment dated
December 21, 1994 filed as Exhibit 1-B to Form U5S
(1994); amendment dated October 17, 1995 and amendment
dated June 1, 1996, filed herewith as Exhibits 6B and
7B to Form U5S (1996).
(47) Certificate of Incorporation of CLNG Corporation as
adopted January 21, 1994, filed as Exhibit 4-A to Form
U5S (1994).
(48) By-Laws of CLNG Corporation as amended through December
21, 1994 filed as Exhibit -B to Form U5S (1994).
<PAGE> 194
(49) Certificate of Amendment of Certificate of
Incorporation of Columbia Natural Resources, Inc.
(changing name to Columbia Energy Resources, Inc.)
dated September 28, 1998, filed as Exhibit 6-A to Form
U5S (1998).
(50) By-Laws of Columbia Energy Resources, Inc. dated
September 30, 1998, filed as Exhibit 6-B to Form U5S
(1998).
(51) Certificate of Incorporation of Columbia Natural
Resources, Inc. adopted on November 21, 1984, filed as
Exhibit 4-A to Form U5S (1984).
(52) By-Laws as of November 26, 1984, filed as Exhibit 2-B to
Form U5S (1984).
(53) Amended and Restated Certificate of Incorporation of
Alamco, Inc. dated August 7, 1997, filed herewith as
exhibit 10-A to Form U5S (1997); Alamco, Inc. merged
with and into Columbia Natural Resources, Inc., on
October 1, 1998.
(54) Amended and Restated Bylaws of Alamco, Inc. as adopted
August 7, 1997, filed herewith as Exhibit 8-B to Form U5S
(1997).
(55) Certificate of Incorporation of Alamco-Delaware, dated
July 21, 1994, filed herewith as Exhibit 11-A to Form U5S
(1997).
(56) By-Laws of Alamco-Delaware filed as Exhibit 9-B to Form
U5S (1997).
(57) Certificate of Incorporation of Hawg Hauling & Disposal,
Inc. dated March 17, 1993, filed herewith as Exhibit 12-A
to Form U5S (1997.
(58) By-Laws of Hawg Hauling & Disposal, Inc. dated March 17,
1993, filed herewith as Exhibit 10-B to Form U5S (1997.
(59) Article of Incorporation of 758117 Alberta Ltd. dated
October 6, 1997, filed as Exhibit 7-A and amendment
changing name to Columbia Natural Resources Canada,
Ltd., dated December 12, 1997, filed as Exhibit 8-A to
Form U5S (1998).
(60) By-laws of 758117 Alberta Ltd., dated December 12, 1997,
filed as Exhibit 7-B to Form U5S (1998).
(61) Certificate of Incorporation of Columbia Network
Services Corporation dated June 7, 1996, filed
herewith as Exhibit 3-A Form U5S (1996).
(62) By-Laws of Columbia Network Services Corporation as
adopted August 29, 1996, filed herewith as Exhibit 8-B
to Form U5S (1996).
(63) Certificate of Incorporation of CNS Microwave Inc., dated
October 15, 1996, filed herewith as Exhibit 4-A to Form
U5S (1996).
(64) By-Laws of CNS Microwave, Inc. as adopted October 25,
1996, filed herewith as Exhibit 9-B to Form U5S (1996).
(65) Certificate Formation of EnergyNet, L.L.C., dated June
13, 1997, filed herewith as Exhibit 13-A to Form U5S
(1997).
<PAGE> 195
(66) By-Laws of EnergyNet, L.L.C., dated June 13, 1997, filed
herewith as Exhibit 11-B to Form U5S (1997).
(67) Certificate of Incorporation as adopted August 19,
1957, filed as Exhibit 3-A to Form U5S (1959);
amendment dated December 18, 1989, filed as Exhibit
1-A to Form U5S (1989); Certificate of Merger of CPI
with and into CPC dated October 1, 1997, filed
herewith as Exhibit 14-A and amendment dated October
1, 1997, filed herewith as Exhibit 15-A to Form U5S
(1997).
(68) By-Laws, as amended to December 4, 1957, filed as Exhibit
4-B to Form U5S (1959); amendment dated May 31, 1966,
filed as Exhibit 2-B to Form U5S (1966); amendment
dated August 3, 1967, filed as Exhibit 4-B to Form U5S
(1967); amendment dated October 3, 1968, filed as
Exhibit 6-B to Form U5S (1968); amendment dated
February 4, 1971, filed as Exhibit 4-B to Form U5S
(1971); amendment dated March 11, 1981, filed as
Exhibit 2-B to Form U5S (1981); amendment dated June
14, 1989, filed as Exhibit 8-B to Form U5S (1989);
amendment dated October 1, 1997, filed as Exhibit 12-B
to Form U5S (1997).
(69) Certificate of Incorporation of Commonwealth Gas
Services, Inc. as amended through December 19, 1958,
and including the Certificate of Merger dated December
18, 1979, filed as Exhibit 8-A to Form U5S (1981);
amendment dated December 30, 1987, filed as Exhibit B,
page 17, to Form U5S (1987); amendment dated February
15, 1995, filed as Exhibit 8-A to Form U5S (1995);
amendment dated January 16, 1998, filed herewith as
Exhibit 16-A to Form U5S (1997).
(70) By-Laws of Commonwealth Gas Services, Inc. as amended
through March 5, 1985, filed as Exhibit 9-B to Form
U5S (1985); amendment dated April 21, 1986, filed as
Exhibit 6-B to Form U5S (1986); amendment dated April
20, 1987, filed as Exhibit B, page 18, to Form U5S
(1987); amendment dated January 1, 1989, filed as
Exhibit 9-B to Form U5S (1988); amendment dated June
15, 1989, filed as Exhibit 9-B to Form U5S (1989);
amendment dated May 6, 1991, filed as Exhibit 3-B to
Form U5S (1991); amendment dated December 7, 1992,
filed as Exhibit 2-B to Form U5S (1992);amendment
dated November 1, 1997, filed herewith as Exhibit 13-B
to Form U5S (1997).
(71) Certificate of Incorporation of Commonwealth Propane,
Inc. as amended through October 3, 1981, and including
the Certificate of Merger dated December 31, 1980, filed
as Exhibit 9-A to Form U5S (1981); amendments dated July
1, 1988, filed as Exhibits 5-A and 6-A to Form U5S
(1988); amendment dated January 6, 1989, filed as Exhibit
7-A to Form U5S (1988).
(72) By-Laws of Commonwealth Propane, Inc. as amended through
July 16, 1990, filed as Exhibit 2-B to Form U5S (1990).
(73) Articles of Incorporation as adopted June 3, 1960, filed
as Exhibit 3-A to Form U5S (1965).
(74) By-Laws of Inland Gas Company, Inc. as amended through
May 8, 1990, filed as Exhibit 3-B to Form U5S (1990).
(75) Certificate of Incorporation of TriStar Capital
Corporation dated August 2, 1990, filed as Exhibit 2-A
to Form U5S (1990); amendment dated June 30, 1997,
filed herewith as Exhibit 17-A to Form U5S (1997);
amendment changing name to Columbia Energy Group
Capital Corporation dated June 2, 1998, filed herewith
as Exhibit 9-A to Form U5S (1998).
<PAGE> 196
(76) By-Laws of TriStar Capital Corporation dated August 2,
1990, filed as Exhibit 4-B to Form U5S (1990).
(77) Certificate of Incorporation of TriStar Gas Technologies,
Inc. dated August 2, 1990, filed as Exhibit 3-A to Form
U5S (1990).
(78) By-Laws of TriStar Gas Technologies, Inc. dated August 2,
1990, filed as Exhibit 5-B to Form U5S (1990).
(79) Certificate of Incorporation of Columbia Energy
Telecommunications Company dated April 17, 1998 filed
as Exhibit 10-A and amendment changing name to
Columbia Transmission Communications Corporation,
dated September 24, 1997 filed as Exhibit 11-A to Form
U5S (1998).
(80) By-Laws of Columbia Energy Telecommunications Company
dated May 11, 1998, filed as Exhibit 8-B to Form U5S
(1998).
(81) Certificate of Incorporation of TriStar Trading Inc.
(later changed its name to TriStar System, Inc.,)
dated April 27, 1990, filed as Exhibit 4-A to Form U5S
(1990); Certificate of Dissolution of TriStar System,
Inc., dated August 4, 1998, filed as Exhibit 12-A to
Form U5S (1998).
(82) By-Laws of TriStar Trading Inc. dated April 27, 1990,
filed as Exhibit 6-B to Form U5S (1990).
(83) Restated Certificate of Incorporation of TriStar Ventures
Corporation as of July 22, 1986, filed as Exhibit 2-A to
Form U5S (1986); amendment dated June 1, 1997, filed
herewith as Exhibit 18-A and amendment changing name to
Columbia Electric Corporation dated January 16, 1998,
filed herewith as Exhibit 19-A to Form U5S (1997).
(84) By-Laws as of March 22, 1984, filed as Exhibit 1-B to
Form U5S (1984); amended to change the name from
Columbia Gas Brokerage Corporation to TriStar Ventures
Corporation by the Consent to Action in Lieu of a
Special Meeting of the Board of Directors dated July
11, 1986, filed as Exhibit 10-B to Form U5S (1986).
(85) Certificate of Incorporation of TriStar CPA
Corporation dated April 29, 1988, filed as Exhibit 2-A
to Form U5S (1989); amendment changing name to TriStar
Pedrick General Corporation, dated August 2, 1989,
filed as Exhibit 3-A to Form U5S (1989); amendment
changing name to Columbia Electric Pedrick General
Corporation dated August 4, 1998, filed as Exhibit
13-A to Form U5S (1998).
(86) By-Laws of TriStar CPA Corporation (name later changed
to TriStar Pedrick General Corporation) dated April
29, 1988, filed as Exhibit 14-B to Form U5S (1989).
(87) Certificate of Incorporation of TriStar Rumford
Corporation dated April 29, 1988, filed as Exhibit 4-A
to Form U5S (1989); amendment changing name to TriStar
Pedrick Limited Corporation, dated August 2, 1989,
filed as Exhibit 5-A to Form U5S (1989); amendment
changing name to Columbia Electric Pedrick Limited
Corporation, dated August 4, 1998, filed as Exhibit
14-A to Form U5S (1998).
(88) By-Laws of TriStar Rumford Corporation (name later
changed to TriStar Pedrick Limited Corporation) dated
April 29, 1988, filed as Exhibit 15-B to Form U5S
(1989).
<PAGE> 197
(89) Certificate of Incorporation of TVC One Corporation dated
December 28, 1989, filed as Exhibit 6-A to Form U5S
(1989); amendment changing name to TriStar Fuel Cells
Corporation, dated May 8, 1990, filed as Exhibit 5-A to
Form U5S (1990); Certificate of Dissolution dated August
4, 1998 filed as Exhibit 15-A to Form U5S (1998).
(90) By-Laws of TVC One Corporation (name later changed to
TriStar Fuel Cells Corporation) dated December 28,
1989, filed as Exhibit 16-B to Form U5S (1989).
(91) Certificate of Incorporation of TVC Two Corporation
dated December 28, 1989, filed as Exhibit 7-A to Form
U5S (1989); amendment changing name to TriStar
Binghamton General Corporation, dated May 8, 1990,
filed as Exhibit 6-A to Form U5S (1990); amendment
changing name to Columbia Electric Binghamton General
Corporation, dated August 4, 1998, filed as Exhibit
16-A to Form U5S (1998).
(92) By-Laws of TVC Two Corporation (name later changed to
TriStar Binghamton General Corporation) dated December
28, 1989, filed as Exhibit 17-B to Form U5S (1989).
(93) Certificate of Incorporation of TVC Three Corporation
dated December 28, 1989, filed as Exhibit 8-A to Form
U5S (1989); amendment changing name to TriStar
Binghamton Limited Corporation, dated May 8, 1990,
filed as Exhibit 7-A to Form U5S (1990); amendment
changing name to Columbia Electric Binghamton Limited
Corporation, dated August 4, 1998, filed as Exhibit
17-A to Form U5S (1998).
(94) By-Laws of TVC Three Corporation (name later changed
to TriStar Binghamton Limited Corporation) dated
December 28, 1989, filed as Exhibit 18-B to Form U5S
(1989).
(95) Certificate of Incorporation of TVC Four Corporation
dated December 28, 1989, filed as Exhibit 9-A to Form
U5S (1989); amendment changing name to TriStar
Georgetown General Corporation, dated May 8, 1990,
filed as Exhibit 8-A to Form U5S (1990); Certificate
of Dissolution dated August 4, 1998, filed as Exhibit
18-A to Form U5S (1998).
(96) By-Laws of TVC Four Corporation (name later changed to
TriStar Georgetown General Corporation) dated December
28, 1989, filed as Exhibit 19-B to Form U5S (1989).
(97) Certificate of Incorporation of TVC Five Corporation
dated December 28, 1989, filed as Exhibit 10-A to Form
U5S (1989); amendment changing name to TriStar Georgetown
Limited Corporation, dated May 1990, filed as Exhibit
9-A to Form U5S (1990); Certificate of Dissolution dated
August 4, 1998, filed as Exhibit 19-A to Form U5S (1998).
(98) By-Laws of TVC Five Corporation (name later changed to
TriStar Georgetown Limited Corporation) dated December
28, 1989, filed as Exhibit 20-B to Form U5S (1989).
(99) Certificate of Incorporation of TVC Six Corporation
dated December 28, 1989, filed as Exhibit 11-A to Form
U5S (1989); amendment changing name to TriStar
Vineland General Corporation, dated May 8, 1990, filed
as Exhibit 10-A to Form U5S (1990); amendment changing
name to Columbia Electric Vineland General
Corporation, dated August 4, 1998, filed as Exhibit
20-A to Form U5S (1998).
(100) By-Laws of TVC Six Corporation (name later changed to
TriStar Vineland General Corporation) dated December
28, 1989, filed as Exhibit 21-B to Form U5S (1989).
<PAGE> 198
(101) Certificate of Incorporation of TVC Seven Corporation
dated December 28, 1989, filed as Exhibit 12-A to Form
U5S (1989); amendment changing name to TriStar Vineland
Limited Corporation, dated May 8, 1990, filed as Exhibit
11-A to Form U5S (1990); amendment changing name to
Columbia Electric Vineland Limited Corporation, dated
August 4, 1998, filed as Exhibit 21-A to Form U5S (1998).
(102) By-Laws of TVC Seven Corporation (name later changed
to TriStar Vineland Limited Corporation) dated
December 28, 1989, filed as Exhibit 22-B to Form U5S
(1989).
(103) Certificate of Incorporation of TVC Eight Corporation
dated December 28, 1989, filed as Exhibit 13-A to Form
U5S (1989); amendment changing name to TriStar Rumford
Limited Corporation, dated September 26, 1990, filed
as Exhibit 12-A to Form U5S (1990); amendment changing
name to Columbia Electric Rumford Limited Corporation,
dated August 4, 1998, filed as Exhibit 22-A to Form
U5S (1998).
(104) By-Laws of TVC Eight Corporation (name later changed
to TriStar Rumford Limited Corporation) dated December
28, 1989, filed as Exhibit 23-B to Form U5S (1989).
(105) Certificate of Incorporation of TVC Nine Corporation
dated December 28, 1989, filed as Exhibit 14-A to Form
U5S (1989); amendment changing name to Columbia
Electric Limited Holdings Corporation, dated August 4,
1998, filed as Exhibit 23-A to Form U5S (1998).
(106) By-Laws of TVC Nine Corporation dated December 28, 1989,
filed as Exhibit 24-B to Form U5S (1989).
(107) Certificate of Incorporation of TVC Ten Corporation
dated December 28, 1989, filed as Exhibit 15-A to Form
U5S (1989); amendment changing name to Columbia
Electric Liberty Corporation, date August 4, 1998,
filed as Exhibit 24-A to Form U5S (1998).
(108) By-Laws of TVC Ten Corporation dated December 28, 1989,
filed as Exhibit 25-B to Form U5S (1989).
<PAGE> 199
EXHIBIT C
(a) *Reference is made to Columbia Energy Group's 1998 Form 10- K,
pages 74 through 76, filed with the Commission on March 26, 1999
(File No. 1-1098), for the indentures and other fundamental
documents defining the rights of security holders.
*Incorporated herein by reference.
<PAGE> 200
EXHIBIT D
A copy of the System Tax Allocation Agreement (Agreement) is
filed herewith as Exhibit D to Form U5S (1998).
<PAGE> 201
EXHIBIT E
Copies of other documents prescribed by rule or order.
The Registrant's Chart of Accounts was filed on November 24,
1975, as Amendment No. 1 to Form U5S (1974), modified by
Amendment No. 1 to Form U5S (1980), filed on July 10, 1981, and
by Amendment No. 1 to Form U5S (1981), filed on September 24,
1982. No changes, other than those required by the Federal
Energy Regulatory Commission, occurred during the year 1996.
Columbia's personnel policy of general application, permitting
retirees to secure subsidiary contingent tax liabilities
relating to Pension Restoration Plan distributions, effective as
of December 1, 1993, filed as Exhibit E to Form U5S (1993), is
incorporated herein by reference.
<PAGE> 202
EXHIBIT F
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To Columbia Energy Group:
We have audited the accompanying consolidated balance sheets of Columbia Energy
Group (a Delaware corporation, the "Corporation") and subsidiaries as of
December 31, 1998 and 1997, and the related statements of consolidated income,
cash flows and common stock equity for each of the three years in the period
ended December 31, 1998. These financial statements are the responsibility of
the Corporation's management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of the Corporation and
subsidiaries as of December 31, 1998 and 1997, and the results of their
operations and their cash flows for each of the three years in the period ended
December 31, 1998, in conformity with generally accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
consolidated financial statements taken as a whole. The schedule listed in the
Index to Item 8, Financial Statements and Supplementary Data, is presented for
purposes of complying with the Securities and Exchange Commission's rules and is
not part of the basic consolidated financial statements. This schedule has been
subjected to the auditing procedures applied in the audits of the basic
consolidated financial statements and, in our opinion, fairly states in all
material respects the financial data required to be set forth therein in
relation to the basic consolidated financial statements taken as a whole.
ARTHUR ANDERSEN LLP
New York, New York
February 11, 1999
<PAGE> 203
EXHIBIT G
Financial Data Tables are filed herewith as Exhibit 27.
<PAGE> 204
EXHIBIT H
Not Applicable
<PAGE> 205
EXHIBIT I
Not Applicable
<PAGE> 206
COLUMBIA ENERGY GROUP
FORM U5S ANNUAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 1998
EXHIBITS
<PAGE> 207
COLUMBIA ENERGY GROUP
FORM U5S ANNUAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 1998
EXHIBITS
Exhibit 1-A: Certificate of Incorporation of Energy.com Corporation
dated December 15, 1997.
Exhibit 2-A: Article of Incorporation of Columbia Assurance Agency, Inc.
dated June 23, 1997.
Exhibit 3-A: Certificate of Amendment of Restated Certificate of
Incorporation of Columbia Gas System Service Corporation dated
January 16, 1998.
Exhibit 4-A: Certificate of Incorporation of Columbia Pipeline
Corporation dated October 13, 1998.
Exhibit 5-A: Certificate of Incorporation of Columbia Deep Water
Services Company dated January 7, 1998.
Exhibit 6-A: Certificate of Amendment of Certificate of Incorporation of
Columbia Natural Resources, Inc. dated September 28, 1998.
Exhibit 7-A: Articles of Incorporation of 758117 Alberta Ltd. dated
October 6, 1997.
Exhibit 8-A: Articles of Amendment of 758117 Alberta Ltd. to Change Its
Name to Columbia Natural Resources Canada, Ltd. dated December
12, 1997.
Exhibit 9-A: Certificate of Amendment of Certificate of Incorporation of
TriStar Capital Corporation dated June 2, 1998
Exhibit 10-A: Certificate of Incorporation of Columbia Energy
Telecommunications Company dated April 17, 1998.
Exhibit 11-A: Certificate of Amendment of Certificate of Incorporate of
Columbia Energy Telecommunications Company.
Exhibit 12-A: Certificate of Dissolution of TriStar System, Inc. dated
August 4, 1998.
Exhibit 13-A: Certificate of Amendment of Certificate of Incorporation of
TriStar Pedrick General Corporation dated August 4, 1998.
Exhibit 14-A: Certificate of Amendment of Certificate of Incorporation of
TriStar Pedrick Limited Corporation dated August 4, 1998.
<PAGE> 208
Exhibit 15-A: Certificate of Dissolution of TriStar Fuel Cells Corporation
dated August 4, 1998.
Exhibit 16-A: Certificate of Amendment of Certificate of Incorporation of
TriStar Binghamton General Corporation dated August 4, 1998.
Exhibit 17-A: Certificate of Amendment of Certificate of Incorporation of
TriStar Binghamton Limited Corporation dated August 4, 1998.
Exhibit 18-A: Certificate of Dissolution of TriStar Georgetown General
Corporation dated August 4, 1998.
Exhibit 19-A: Certificate of Dissolution of TriStar Georgetown Limited
Corporation dated August 4, 1998.
Exhibit 20-A: Certificate of Amendment of Certificate of Incorporation of
Tristar Vineland General Corporation dated August 4, 1998.
Exhibit 21-A: Certificate of Amendment of Certificate of Incorporation of
Tristar Vineland Limited Corporation dated August 4, 1998.
Exhibit 22-A: Certificate of Amendment of Certificate of Incorporation of
TriStar Rumford Limited Corporation dated August 4, 1998.
Exhibit 23-A: Certificate of Amendment of Certificate of Incorporation of
TVC Nine Corporation dated August 4, 1998.
Exhibit 24-A: Certificate of Amendment of Certificate of Incorporation of
TVC Ten Corporation dated August 4, 1998.
Exhibit 1-B: Amended and Restated of the By-Laws of Columbia Energy Group
dated January 16, 1998.
Exhibit 2-B: By-Laws of Energy.com Corporation dated January 5, 1998.
Exhibit 3-B: Code of Regulations of Columbia Assurance Agency, Inc.
dated July 30, 1997.
Exhibit 4-B: By-Laws of Columbia Pipeline Corporation dated November 1,
1998.
Exhibit 5-B: By-Laws of Columbia Deep Water Services Company dated
January 8, 1998.
Exhibit 6-B: By-Laws of Columbia Energy Resources, Inc., dated September
30, 1998.
Exhibit 7-B: By-Laws of 758117 Alberta Ltd. dated December 12, 1997.
<PAGE> 209
Exhibit 8-B: By-Laws of Columbia Energy Telecommunications Company dated
May 11, 1998.
Exhibit D: Tax Allocation dated 1998.
Exhibit 27: Financial Data Tables
<PAGE> 1
Exhibit 1-A
Page 1 of 3
CERTIFICATE OF INCORPORATION OF
ENERGY.COM CORPORATION
ARTICLE I
The name of this corporation is Energy.com Corporation (the
"Corporation").
ARTICLE II
The address of the registered office of the Corporation in the State
of Delaware is 1209 Orange Street, Wilmington, County of New Castle, Delaware
19801, and the name of the Corporation's registered agent at such address is The
Corporation Trust Company.
ARTICLE III
The purpose of the Corporation is to engage in any lawful act or
activity for which corporations may be organized under the General Corporation
Law of the State of Delaware (as the same exists or may hereafter be amended,
the "General Corporation Law").
ARTICLE IV
The total number of shares of stock which the Corporation shall have
authority to issue is three thousand (3,000). All such shares are to be common
stock, par value of one dollar ($1.00) per share, and are to be of one class.
ARTICLE V
The name and mailing address of the incorporator are:
Andrew P. McDowell
12355 Sunrise Valley Drive
Suite 300
Reston, VA 20191-3420
ARTICLE VI
The incorporator, until the directors are elected, shall manage the
affairs of the Corporation and may do whatever is necessary and proper to
perfect the organization of the Corporation, including the adoption of the
original bylaws of the Corporation and the election of directors.
<PAGE> 2
Exhibit 1-A
Page 2 of 3
ARTICLE VII
A director of the Corporation shall not be personally liable to the
Corporation or its stockholders for monetary damages for breach of fiduciary
duty as a director, except to the extent such exemption from liability or
limitation thereof is not permitted under the General Corporation Law. Any
repeal or modification of the foregoing sentence shall not adversely affect any
right or protection of a director of the Corporation existing hereunder with
respect to any act or omission occurring prior to such repeal or modification.
ARTICLE VIII
In furtherance and not in limitation of the powers conferred by the
General Corporation Law, the Board of Directors is expressly authorized and
empowered to adopt, amend and repeal the bylaws of the Corporation, subject to
the power of the stockholders of the Corporation to amend or repeal any bylaw
made by the Board of Directors.
ARTICLE IX
Unless and except to the extent that the bylaws of the Corporation
shall so require, the election of the directors of the Corporation need not be
by written ballot.
ARTICLE X
Meetings of stockholders may be held within or without the State of
Delaware, as the bylaws may provide. The books of the Corporation may be kept
(subject to any provision contained in the statutes) outside the State of
Delaware at such place or places as may be designated from time to time by the
Board of Directors or in the bylaws of the Corporation.
ARTICLE XI
The Corporation reserves the right at any time, and from time to
time, to amend, alter, change or repeal any provision contained in this
Certificate of Incorporation, and other provisions authorized by the General
Corporation Law, or any other laws of the State of Delaware, at the time in
force may be added or inserted, in the manner now or hereafter prescribed by
law; and all rights, preferences and privileges of whatsoever nature conferred
upon stockholders, directors or any other persons whomsoever by and pursuant to
this Certificate of Incorporation in its present form or as hereafter amended
are granted subject to the rights reserved in this Article XI.
<PAGE> 3
Exhibit 1-A
Page 3 of 3
THE UNDERSIGNED, being the incorporator hereinabove named, makes and
files this Certificate of Incorporation, and does hereby declare and certify
that said instrument is the incorporator's act and deed and that the facts
stated herein are true, and accordingly has executed this Certificate of
Incorporation this 15th day of December, 1997.
By:______________________________
Andrew P. McDowell
<PAGE> 1
Exhibit 2-A
Page 1 of 4
ARTICLES OF INCORPORATION
OF
COLUMBIA ASSURANCE AGENCY, INC.
The undersigned, for purposes of forming a corporation for profit in
accordance with Chapter 1701 of the Ohio Revised Code, does hereby state the
following:
ARTICLE 1. NAME.
The name of the Corporation shall be Columbia Assurance Agency,
Inc.
ARTICLE 2. PRINCIPAL OFFICE.
The place in Ohio where the principal office of the Corporation is
to be located shall be the City of Columbus, (Franklin County).
ARTICLE 3. PURPOSE.
The purposes for which the Corporation is formed shall be:
(A) To solicit and sell fixed and variable annuities and life
insurance, including, accident and health, and property and
casualty insurance, and to generally conduct the business of an
insurance agency, and to do any and all acts or things necessary,
proper or convenient to the accomplishment of the foregoing both
within and without the State of Ohio to the extent as a natural
person might or could do, and to do all other things incidental to
the operation of an insurance agency which are not forbidden by
statute or by these articles of incorporation.
(B) To engage in any lawful act or activity for which corporations
may be formed under Sections 1701.01 to 1701.98, inclusive, Ohio
Revised Code.
ARTICLE 4. CAPITAL STOCK.
The number of shares of all classes of capital stock which the
Corporation is authorized to have outstanding is 850 shares, consisting
of one share of Class A common stock, without par value (the "Class A
common stock"), and 849 shares of Class B common stock, without par
value, (the "Class B common stock").
The express terms of the Class A common stock and the Class B
<PAGE> 2
Exhibit 2-A
Page 2 of 4
common stock shall be exactly the same, except that:
A. Voting. Except as otherwise expressly required by the Ohio General
Corporation Law, the holder of the outstanding share of Class A common
stock, to the exclusion of the holders of Class B common stock, shall be
entitled to one vote per share on all matters for which the shareholders
of the Corporation are required or entitled to vote, and the Class B
common stock shall entitle the holders thereof to no vote on any matter
for any purpose.
B. Liquidation Rights. In the event of any liquidation, winding up or
dissolution, whether voluntary or involuntary, or in the event of the
sale, exchange, transfer, or other disposition of all or substantially
all of the assets of the Corporation or of any partial distribution of
capital, the distribution shall (1) first be paid in the fixed rate of
One Dollar ($1.00) for each share of Class A common stock which is issued
and outstanding, and (2) then pro rata with respect to each share of
Class B common stock which is issued and outstanding.
C. Redemption of Class A Common Stock. The Corporation shall have the
option to redeem the Class A common stock in whole or in part, at any
time, and from time to time, at a price per share of $1.00. This
redemption shall occur by resolution of the Board of Directors or by such
officer of the Corporation to whom the power to exercise the
Corporation's right to redeem shall have been delegated by the Board of
Directors and by the transmittal of written notice of such redemption to
the holder of Class A common stock to be redeemed not less than three (3)
days prior to the redemption date set by the Board of Directors (the
"Redemption Date"). Such notice shall state that the share of Class A
common stock is to be redeemed from the shareholder to whom it is
addressed and the Redemption Date. If given by registered or certified
mail, postage prepaid, addressed to the shareholder from whom redemption
is to be made at the address as it appears on the records of the
Corporation, such notice shall be deemed to have been received by such
shareholder when deposited in the mail. Any redemption of Class A common
stock by the Corporation, may be made by such method as the directors, in
their discretion, may determine. If notice of redemption shall have been
given and if, on or before the Redemption Date specified in such notice,
all funds necessary for such redemption shall have been set aside so as
to be available, then notwithstanding that any certificate evidencing a
share of Class A common stock called for redemption shall not have been
surrendered for cancellation, all rights with respect to such share of
Class A common stock shall cease and terminate on such redemption date,
except for the right of the holder thereof to receive the amount payable
upon redemption, without interest.
<PAGE> 3
Exhibit 2-A
Page 3 of 4
ARTICLE 5. PREEMPTIVE RIGHTS
No holders of any class of shares of the Corporation shall have
any pre-emptive right to purchase or have offered to them for purchase
any shares or other securities of the Corporation.
ARTICLE 6. STATED CAPITAL
The amount of stated capital with which the Corporation will begin
business shall not be less than one hundred dollars ($100.00).
ARTICLE 7. CERTAIN TRANSACTIONS.
No person shall be disqualified from being a director of the
Corporation because he or she is, or may be a party to (and no director
of the Corporation shall be disqualified from entering into) any contract
or other transaction to which the Corporation is or may be a party.
No contract or other transaction shall be void or voidable for
reason that any director or officer or other agent of the Corporation is
a party thereto, or otherwise has any direct or indirect interest in such
contract or transaction or in any other party thereto, or for reason that
any interested director or officer or other agent of the Corporation
authorizes or participates in authorization of such contract or
transaction, (a) if the material facts as to such interest are disclosed
or are otherwise known to the board of directors or applicable committee
of directors at the time the contract or transaction is authorized, and
at least a majority of the disinterested directors or disinterested
members of the committee vote for or otherwise take action authorizing
such contract or transaction, even though such disinterested directors or
members are less than a quorum, or (b) if the contract or transaction (1)
is not less favorable to the Corporation than an arm's length contract or
transaction in which no director or officer or other agent of the
Corporation has any interest or (2) is otherwise fair to the Corporation
as of the time it is authorized.
Any interested director may be counted in determining the presence
of a quorum at any meeting of the board of directors or any committee
thereof which authorizes the contract or transaction.
<PAGE> 4
Exhibit 2-A
Page 4 of 4
ARTICLE 8. AUTHORITY TO REPURCHASE CAPITAL STOCK.
The Corporation, by its board of directors, is authorized, except
to the extent prohibited by law or as otherwise provided in Article 4(c),
to repurchase, redeem or otherwise acquire, from time to time at any
time, shares of any class of capital stock issued by it.
------------------------------------
Elisabeth A. Squeglia,
Incorporator
<PAGE> 1
Exhibit 3-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
RESTATED CERTIFICATE OF INCORPORATION
OF
COLUMBIA GAS SYSTEM SERVICE CORPORATION
================================================================================
COLUMBIA GAS SYSTEM SERVICE CORPORATION, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware (the "Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated December 29, 1997 adopted resolutions proposing and
declaring advisable an amendment to part First of the Restated Certificate of
Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Restated Certificate of Incorporation of
this Corporation be amended to change the name of the Corporation to
Columbia Energy Group Service Corporation, the amendment to be effective
by deleting part First of said Restated Certificate of Incorporation and
inserting in lieu thereof the following:
First: The name of the corporation (hereinafter called the
Corporation) is
COLUMBIA ENERGY GROUP SERVICE CORPORATION.
RESOLVED, FURTHER, that the foregoing amendment is advisable and
its adoption is in the best interests of the Corporation and its
stockholders and, to effectuate the foregoing, it is hereby directed that
the foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, FURTHER, that at any time prior to the filing of the
foregoing amendment to the Corporation's Restated Certificate of
Incorporation with the Secretary of State of the State of Delaware,
notwithstanding authorization of such amendment by the stockholders of
the Corporation, the Board of Directors
<PAGE> 2
Exhibit 3-A
Page 2 of 2
of the Corporation may abandon such amendment without further action by
the stockholders of the Corporation; and
RESOLVED, FURTHER, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Restated Certificate of Incorporation; and
RESOLVED, FURTHER, that the officers of the Corporation be, and
they hereby are, authorized and directed from time to time to execute any
and all documents and to take any and all other actions necessary or
appropriate to carry forward the foregoing resolutions.
SECOND: That in lieu of a meeting and vote of the stockholders, The
Columbia Gas System, Inc., being the holder of the outstanding stock of the
Corporation having not less than the minimum number of votes that would be
necessary to authorize or take action at a meeting at which all shares entitled
to vote thereon were present and voted, approved said amendment by written
Consent dated as of January 16, 1998 in accordance with the provisions of
Section 228(a) of the General Corporation Law of the State of Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 (by the written consent of the
sole stockholder of the Corporation) of the General Corporation Law of the State
of Delaware.
IN WITNESS WHEREOF, Columbia Gas System Service Corporation has caused
this Certificate to be signed by Mr. Oliver G. Richard III, its Chairman,
President and Chief Executive Officer, and attested by Ms. Carolyn McKinney
Afshar, its Secretary, this 16th day of January, 1998.
<PAGE> 1
Exhibit 4-A
Page 1 of 4
CERTIFICATE OF INCORPORATION
OF
Columbia Pipeline Corporation
1. The name of the corporation is Columbia Pipeline Corporation.
2. The address of its registered office in the State of Delaware is
Corporation Trust Center; 1209 Orange Street, in the City of Wilmington, County
of New Castle. The name of its registered agent at such address is The
Corporation Trust Company.
3. To engage in any lawful act or activity for which corporations may be
organized under the General Corporation Law of Delaware.
4. The total number of shares of stock which the corporation shall have
authority to issue is: One Hundred (l00) and the par value of each of such
shares is No Dollars and One Cents ($0.01) amounting in the aggregate to One
Dollars and Zero Cents ($1).
The designations and the powers, preferences and rights, and the
qualifications, limitations or restrictions thereof are as follows:
Common
At all elections of directors of the corporation, each stockholder shall
be entitled to as many votes as shall equal the number of votes which (except
for such provision as to cumulative voting) he would be entitled to cast for the
election of directors with respect to his shares of stock multiplied by the
number of directors to be elected by him, and he may cast all of such votes for
a single director or may distribute them among the number to be voted for, or
for any two or more of them as he may see fit.
5. The name and mailing address of each incorporator is as follows:
<TABLE>
<CAPTION>
NAME MAILING ADDRESS
---------------
<S> <C>
Evelyn LaCorte 1025 Vermont Avenue, NW, Washington, DC 20005
Eudoxia Papachristos 1025 Vermont Avenue, NW, Washington, DC 20005
Judith Argac 1025 Vermont Avenue, NW, Washington, DC 20005
</TABLE>
<PAGE> 2
Exhibit 4-A
Page 2 of 4
The name and mailing address of each person who is to serve as a director
until the first annual meeting of the stockholders or until a successor is
elected and qualified, is as follows:
6. The corporation is to have perpetual existence.
7. In furtherance and not in limitation of the powers conferred by
statute, the board of directors is expressly authorized:
To make, alter or repeal the by4aws of the corporation.
To authorize and cause to be executed mortgages and liens upon the real
and personal property of the corporation.
To set apart out of any of the funds of the corporation available for
dividends a reserve or reserves for any proper purpose and to abolish any such
reserve in the manner in which it was created.
To designate one or more committees, each committee to consist of one or
more of the directors of the corporation. The board may designate one or more
directors as alternate members of any committee, who may replace any absent or
disqualified member at any meeting of the committee. The by-laws may provide
that in the absence or disqualification of a member of a committee, the member
or members present at any meeting and not disqualified from voting, whether or
not such member or members constitute a quorum, may unanimously appoint another
member of the board of directors to act at the meeting in the place of any such
absent or disqualified member. Any such committee, to the extent provided in the
resolution of the board of directors, or in the by-laws of the corporation,
shall have and may exercise all the powers and authority of the board of
directors in the management of the business and affairs of the corporation, and
may authorize the seal of the corporation to be affixed to all papers which may
require it; but no such committee shall have the power or authority in reference
to the following matters: (i) approving or adopting, or recommending to the
stockholders, any action or matter expressly required by the Delaware General
Corporation Law to be submitted to stockholders for approval or (ii) adopting,
amending or repealing any by-law of the corporation.
When and as authorized by the stockholders in accordance with law, to
sell, lease or exchange all or substantially all of the property and assets of
the corporation, including its good will and its corporate franchises, upon such
terms and conditions and for such consideration, which may consist in whole or
in part of money or property including shares of stock in, and/or other
securities of, any other corporation or corporations, as its board of directors
shall deem expedient and for the best interests of the corporation.
<PAGE> 3
Exhibit 4-A
Page 3 of 4
8. Elections of directors need not be by written ballot unless the by4aws
of the corporation shall so provide.
Meetings of stockholders may be held within or without the State of
Delaware, as the by-laws may provide. The books of the corporation may be kept
(subject to any provision contained in the statutes) outside the State of
Delaware at such place or places as may be designated from time to time by the
board of directors or in the by-laws of the corporation.
Whenever a compromise or arrangement is proposed between this corporation
and its creditors or any class of them and/or between this corporation and its
stockholders or any class of them, any court of equitable jurisdiction within
the State of Delaware may, on the application in a summary way of this
corporation or of any creditor or stockholder thereof or on the application of
any receiver or receivers appointed for this corporation under the provisions of
Section 291 of Title 8 of the Delaware Code or on the application of trustees in
dissolution or of any receiver or receivers appointed for this corporation under
the provisions of Section 279 of Title 8 of the Delaware Code order a meeting of
the creditors or class of creditors, and/or of the stockholders or class of
stockholders of this corporation, as the case may be, to be summoned in such
manner as the said court directs. If a majority in number representing
three-fourths in value of the creditors or class of creditors, and/or of the
stockholders or class of stockholders of this corporation, as the case may be,
agree to any compromise or arrangement and to any reorganization of this
corporation as a consequence of such compromise or arrangement, the said
compromise or arrangement and the said reorganization shall, if sanctioned by
the court to which the said application has been made, be binding on all the
creditors or class of creditors, and/or on all the stockholders or class of
stockholders, of this corporation, as the case may be, and also on this
corporation.
9. The corporation reserves the right to amend, alter, change or repeal
any provision contained in this Certificate of Incorporation, in the manner now
or hereafter prescribed by statute, and all rights conferred upon stockholders
herein are &anted subject to this reservation.
10. A director of the corporation shall not be personally liable to the
corporation or its stockholders for monetary damages for breach of fiduciary
duty as a director except for liability (i) for any breach of the directors duty
of loyalty to the corporation or its stockholders, (ii) for acts or omissions
not in good faith or which involve intentional misconduct or a knowing violation
of law, (iii) under Section 174 of the Delaware General Corporation Law, or (iv)
for any transaction from which the director derived any improper personal
benefit
<PAGE> 4
Exhibit 4-A
Page 4 of 4
WE, THE UNDERSIGNED, being each of the incorporators herein before named,
for the purpose of forming a corporation pursuant to the General Corporation Law
of the State of Delaware, do make this Certificate, hereby declaring and
certifying that this is our act and deed and the facts herein stated are true,
and accordingly have hereunto set our hands this Thirtieth day of October, 1998.
------------------------------
Evelyn LaCorte
------------------------------
Eudoxia Papachristos
------------------------------
Judith Argao
<PAGE> 1
Exhibit 5-A
Page 1 of 5
CERTIFICATE OF INCORPORATION
OF
Columbia Deep Water Services Company
1. The name of the corporation is Columbia Deep Water Services Company.
2. The address of its registered office in the State of Delaware is
Corporation Trust Center, 1209 Orange Street, in the City of Wilmington, County
of New Castle. The name of its registered agent at such address is The
Corporation Trust Company.
3. The nature of the business or purposes to be conducted or promoted is:
To engage in any lawful act or activity for which corporations may be
organized under the General Corporation Law of Delaware.
To manufacture, purchase or otherwise acquire, invest in, own, mortgage,
pledge, sell, assign and transfer or otherwise dispose of, trade, deal in and
deal with goods, wares and merchandise and personal property of every class and
description.
To acquire, and pay for in cash, stock or bonds of this corporation or
otherwise, the good will, rights, assets and property, and to undertake or
assume the whole or any part of the obligations or liabilities of any person,
firm, association or corporation.
To acquire, hold, use, sell, assign, lease, grant licenses in respect of,
mortgage or otherwise dispose of letters patent of the United States or any
foreign country, patent rights, licenses and privileges, inventions,
improvements and processes, copyrights, trademarks and trade names, relating to
or useful in connection with any business of this corporation.
To acquire by purchase, subscription or otherwise, and to receive, hold,
own, guarantee, sell, assign, exchange, transfer, mortgage, pledge or otherwise
dispose of or deal in and with any of the shares of the capital stock, or any
voting trust certificates in respect of the shares of capital stock, scrip,
warrants, rights, bonds, debentures, notes, trust receipts, and other
securities, obligations, chooses in action and evidences of indebtedness or
interest issued or created by any corporations, joint stock companies,
syndicates, associations, firms, trusts or persons, public or private, or by the
government of the United States of America, or by any foreign government, or by
any state, territory, province, municipality or other political subdivision or
by any governmental agency, and as owner thereof
<PAGE> 2
Exhibit 5-A
Page 2 of 5
to possess and exercise all the rights, powers and privileges of ownership,
including the right to execute consents and vote thereon, and to do any and all
acts and things necessary or advisable for the preservation, protection,
improvement and enhancement in value thereof.
To borrow or raise money for any of the purposes of the corporation and,
from time to time without limit as to amount, to draw, make, accept, endorse,
execute and issue promissory notes, drafts, bills of exchange, warrants, bonds,
debentures and other negotiable or non-negotiable instruments and evidences of
indebtedness, and to secure the payment of any thereof and of the interest
thereon by mortgage upon or pledge, conveyance or assignment in trust of the
whole or any part of the property of the corporation, whether at the time owned
or thereafter acquired, and to sell, pledge or otherwise dispose of such bonds
or other obligations of the corporation for its corporate purposes.
To purchase, receive, take by grant, gift, devise, bequest or otherwise,
lease, or otherwise acquire, own, hold, improve, employ, use and otherwise deal
in and with real or personal property, or any interest therein, wherever
situated, and to sell, convey, lease, exchange, transfer or otherwise dispose
of, or mortgage or pledge, all or any of the corporation's property and assets,
or any interest therein, wherever situated.
In general, to possess and exercise all the powers and privileges granted
by the General Corporation Law of Delaware or by any other law of Delaware or by
this Certificate of Incorporation together with any powers incidental thereto,
so far as such powers and privileges are necessary or convenient to the conduct,
promotion or attainment of the business or purposes of the corporation.
The business and purposes specified in the foregoing clauses shall,
except where otherwise expressed, be in nowise limited or restricted by
reference to, or inference from, the terms of any other clause in this
Certificate of Incorporation, but the business and purposes specified in each of
the foregoing clauses of this article shall be regarded as independent business
and purposes.
4. The total number of shares of stock which the corporation shall have
authority to issue is Ten Thousand (10,000) and the par value of each
of such shares is: One Dollars ($1) amounting in the aggregate to Ten
Thousand Dollars and Zero ($10,000).
The designations and the powers, preferences and rights, and the
qualifications, limitations or restrictions thereof are as follows:
At all elections of directors of the corporation, each stockholder shall
be entitled to as many votes as shall equal the number of votes which (except
for such provision as to cumulative voting) he would be entitled to cast for the
election of directors with respect to his shares of stock multiplied by the
number of directors to be elected by him, and he may cast all of such votes for
a single
<PAGE> 3
Exhibit 5-A
Page 3 of 5
director or may distribute them among the number to be voted for, or for any two
or more of them as he may see fit.
5. The name and mailing address of each incorporator is as follows:
<TABLE>
<CAPTION>
NAME MAILING ADDRESS
<S> <C>
M. C. Kinnamon 1209 Orange Street
Wilmington, Delaware 19805
S. A. Clegg 1209 Orange Street
Wilmington, Delaware 19805
C. L. Hughes 1209 Orange Street
Wilmington, Delaware 19805
</TABLE>
The name and mailing address of each person who is to serve as a director
until the first annual meeting of the stockholders or until a successor is
elected and qualified, is as follows:
<TABLE>
<CAPTION>
NAME MAILING ADDRESS
<S> <C>
Terrance L. McGill 2603 Augusta, Houston, TX 77057-5637
Raymond R. Kaskel 2603 Augusta, Houston, TX 77057-5637
Oliver G. Richard III 2603 Augusta, Houston, TX 77057-5637
</TABLE>
6. The corporation is to have perpetual existence.
7. In furtherance and not in limitation of the powers conferred by
statute, the board of directors is expressly authorized:
To make, alter or repeal the by-laws of the corporation.
To authorize and cause to be executed mortgages and liens upon the real
and personal property of the corporation.
To set apart out of any of the funds of the corporation available for
dividends a reserve or reserves for any proper purpose and to abolish any such
reserve in the manner in which it was created.
To designate one or more committees, each committee to consist of one or
more of the directors of the corporation. The board may designate one or more
directors as alternate members of any committee, who may replace any absent or
disqualified member at any meeting of the committee. The by-laws may provide
that in the absence or disqualification of a member of a committee, the member
or members present at any meeting and not disqualified from voting, whether or
not such member or members constitute a quorum, may unanimously
<PAGE> 4
Exhibit 5-A
Page 4 of 5
appoint another member of the board of directors to act at the meeting in the
place of any such absent or disqualified member. Any such committee, to the
extent provided in the resolution of the board of directors, or in the by-laws
of the corporation, shall have and may exercise all the powers and authority of
the board of directors in the management of the business and affairs of the
corporation, and may authorize the seal of the corporation to be affixed to all
papers which may require it; but no such committee shall have the power or
authority in reference to the following matters: (I) approving or adopting, or
recommending to the stockholders, any action or matter expressly required by the
Delaware General Corporation Law to be submitted to stockholders for approval or
(ii) adopting, amending or repealing any by-law of the corporation.
8. Elections of directors need not be by written ballot unless the
by-laws of the corporation shall so provide.
Meetings of stockholders may be held within or without the State of
Delaware, as the by-laws may provide. The books of the corporation may be kept
(subject to any provision contained in the statutes) outside the State of
Delaware at such place or places as may be designated from time to time by the
board of directors or in the by-laws of the corporation.
Whenever a compromise or arrangement is proposed between this corporation
and its creditors or any class of them and/or between this corporation and its
stockholders or any class of them, any court of equitable jurisdiction within
the State of Delaware may, on the application in a summary way of this
corporation or of any creditor or stockholder thereof or on the application of
any receiver or receivers appointed for this corporation under the provisions of
Section 291 of Title 8 of the Delaware Code or on the application of trustees in
dissolution or of any receiver or receivers appointed for this corporation under
the provisions of Section 279 of Title 8 of the Delaware Code order a meeting of
the creditors or class of creditors, and/or of the stockholders or class of
stockholders of this corporation, as the case may be, to be summoned in such
manner as the said court directs. If a majority in number representing
three-fourths in value of the creditors or class of creditors, and/or of the
stockholders or class of stockholders of this corporation, as the case may be,
agree to any compromise or arrangement and to any reorganization of this
corporation as a consequence of such compromise or arrangement, the said
compromise or arrangement and said reorganization shall, if sanctioned by the
court to which the said application has been made, be binding on all the
creditors or class of creditors, and/or on all the stockholders or class of
stockholders, of this corporation, as the case may be, and also on this
corporation.
9. The corporation reserves the right to amend, alter, change or repeal
any provision contained in this Certificate of Incorporation, in the manner now
or hereafter prescribed by statute, and all rights conferred upon stockholders
herein are granted subject to this reservation.
<PAGE> 5
Exhibit 5-A
Page 5 of 5
10. A director of the corporation shall not be personally liable to the
corporation or its stockholders for monetary damages for breach of fiduciary
duty as a director except for liability (i) for any breach of the director's
duty of loyalty to the corporation or its stockholders, (ii) for acts or
omissions not in good faith or which involve intentional misconduct or a knowing
violation of law, (iii) under Section 174 of the Delaware General Corporation
Law, or (iv) for any transaction from which the director derived any improper
personal benefit.
WE, THE UNDERSIGNED, being each of the incorporators hereinbefore named,
for the purpose of forming a corporation pursuant to the General Corporation Law
of the State of Delaware, do make this Certificate, hereby declaring and
certifying that this is our act and deed and the facts herein stated are true,
and accordingly have hereunto set our hands this 7th day of January, 1998.
---------------------------------
M. C. Kinnamon
---------------------------------
S. A. Clegg
---------------------------------
C. L. Hughes
<PAGE> 1
Exhibit 6-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
COLUMBIA NATURAL RESOURCES, INC.
COLUMBIA NATURAL RESOURCES, INC., a corporation organized and existing
under and by virtue of the General Corporation Law of the State of Delaware (the
"Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Incorporator of said Corporation, by unanimous written
consent dated September 28, 1998, adopted resolutions proposing and declaring
advisable an amendment to part FIRST of the Certificate of Incorporation of said
Corporation as follows:
RESOLVED, that the Incorporator of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Energy Resources, Inc., the amendment to be effective by deleting part
FIRST of said Certificate of Incorporation and inserting in lieu thereof
the following:
FIRST: The name of the Corporation is COLUMBIA ENERGY RESOURCES,
INC. (the "Corporation").
RESOLVED FURTHER, that the Incorporator of the Corporation be, and
hereby is, authorized and directed to execute, acknowledge and file with
the Secretary of State of Delaware a Certificate of Amendment to evidence
the foregoing amendment of the Corporation's Certificate of
Incorporation; and
RESOLVED FURTHER, that the Incorporator be, and hereby is,
authorized and directed from time to time to execute any and all
documents and to take any and all other actions necessary or appropriate
to carry forward the foregoing resolutions.
SECOND: That in lieu of a meeting by the Incorporator of the Corporation,
the Incorporator, representing not less than a majority of the incorporators
that would be necessary to authorize the amendment of the Certificate of
Incorporation before the receipt for payment of stock, approved said amendment
by written Consent dated September 28, 1998 in accordance with the provisions of
Section 241 of the General Corporation Law of the State of Delaware.
<PAGE> 2
Exhibit 6-A
Page 2 of 2
THIRD: That the Corporation has not received any payment for any of the
stock which the Corporation is authorized to issue, in accordance with the
provisions of Section 241 of the General Corporation Law of the State of
Delaware.
FOURTH: That said amendment was duly adopted in accordance with the
applicable provisions of Section 241 of the General Corporation Law of the State
of Delaware.
I, the undersigned, being the Incorporator of the Corporation, for the
purpose of changing the name of the Corporation, do make this Certificate,
hereby declaring and certifying that this is my act and deed and that the facts
stated herein are true, and accordingly have hereunto set my hand this 28th day
of September, 1998.
By:
---------------------------------
Incorporator
R. Neal Pierce
<PAGE> 1
Exhibit 7-A
Page 1 of 5
BUSINESS CORPORATIONS ACT
(SECTION 6)
ARTICLES OF INCORPORATION
1. NAME OF CORPORATION:
758117 ALBERTA LTD. 20758117
2. THE CLASSES, AND ANY MAXIMUM NUMBER OF SHARES THAT THE CORPORATION IS
AUTHORIZED TO ISSUE:
The authorized capital of the corporation shall consist of an unlimited
number of Common Shares without nominal or par value and an unlimited
number of First Preferred Shares without nominal or par value. The
rights, privileges, restrictions and conditions attaching to the Common
Shares and First Preferred Shares are as set out in Schedule "A"
attached hereto.
3. RESTRICTIONS ON SHARE TRANSFERS (IF ANY):
No share in the capital of the corporation shall be transferred without
the express consent of the directors of the corporation expressed by the
votes of a majority of the directors of the corporation at a meeting of
the board of directors or by an instrument or instruments in writing
signed by all of the directors.
4. NUMBER, OR MINIMUM AND MAXIMUM NUMBER, OF DIRECTORS THAT THE CORPORATION
MAY HAVE:
The board of directors shall consist of such number of directors, being a
minimum of one (1) director and a maximum of ten (10) directors, as may
from time to time be determined by resolution of the board of directors.
5. IF THE CORPORATION IS RESTRICTED FROM CARRYING ON A CERTAIN BUSINESS, OR
RESTRICTED TO CARRYING ON A CERTAIN BUSINESS, SPECIFY THE
RESTRICTION(S):
N/A
6. OTHER RULES OR PROVISIONS (IF ANY):
(a) The number of shareholders of the corporation, exclusive of
persons who are in its employment and exclusive of persons
who, having been formerly in the employment of the
corporation, were, while in that employment and have
continued after the termination of that employment to be,
shareholders of the corporation, is limited to not more than
50, 2 or more persons who are the joint registered owners of
1 or more shares being counted as one shareholder.
(b) Any invitation to the public to subscribe for securities of the
<PAGE> 2
Exhibit 7-A
Page 2 of 5
corporation is prohibited.
(c) Without limiting the borrowing powers of the corporation as set
forth in the Business Corporations Act (Alberta):
(i) The board of directors may from time to time in such
amounts and on such terms as it deems expedient charge,
mortgage, hypothecate or pledge all or any of the
currently owned or subsequently acquired real or
personal, movable or immovable, property of the
corporation, including book debts, rights, powers,
franchises and undertaking, to secure any debt
obligations or any money borrowed, or other debt or
liability of the corporation.
(ii) The board of directors may from time to time
delegate to such one or more of the directors
and officers of the corporation as may be
designated by the board all or any of the powers
conferred on the board above to such extent and
in such manner as the board shall determine at
the time of each such delegation.
(d) The directors may, between annual general meetings, appoint one
or more additional directors of the Corporation to serve until
the next annual general meeting but the number of additional
directors shall not at any time exceed one-third (1/3) of the
number of directors who held office at expiration of the last
annual meeting.
7. DATE: 1997 October 06
INCORPORATORS NAMES:
ADDRESS (INCLUDING POSTAL CODE)
3200, 421 - 7 Avenue S.W.
SIGNATURE
Mark G. Eade
(Signed)"Mark G. Eade"
Calgary, Alberta
T2P 4K9
BUSINESS CORPORATIONS ACT
ARTICLES OF INCORPORATION
SCHEDULE "A"
1. The rights, privileges, restrictions and conditions attaching to the
Common Shares are as follows:
(a) Payment of Dividends: The holders of the Common Shares shall be
<PAGE> 3
Exhibit 7-A
Page 3 of 5
entitled to receive dividends if, as and when declared by the
board of directors of the Corporation out of the assets of the
Corporation properly applicable to the payment of dividends in
such amounts and payable in such manner as the board of
directors may from time to time determine. Subject to the rights
of the holders of any other class of shares of the Corporation
entitled to receive dividends in priority to or rateably with
the holders of the Common Shares, the board of directors may in
their sole discretion declare dividends on the Common Shares to
the exclusion of any other class of shares of the Corporation.
(b) Participation upon Liquidation, Dissolution or Winding-Up: In
the event of the liquidation, dissolution or winding-up of the
Corporation or other distribution of assets of the Corporation
among its shareholders for the purpose of winding-up its
affairs, the holders of the Common Shares shall, subject to the
rights of the holders of any other class of shares of the
Corporation entitled to receive the assets of the Corporation
upon such a distribution in priority to or rateably with the
holders of the Common Shares, be entitled to participate
rateably in any distribution of the assets of the Corporation.
(c) Voting Rights: The holders of the Common Shares shall be
entitled to receive notice of and to attend all annual and
special meetings of the shareholders of the Corporation and to 1
vote in respect of each Common Share held at all such meetings.
2. The rights, privileges, restrictions and conditions attaching to the
First Preferred Shares are as follows:
(a) Series: The First Preferred Shares may at any time and from time
to time be issued in one or more series. Subject to the
provisions of this clause 2(a), the board of directors may from
time to time fix the number of shares in, and determine the
designation, rights, privileges, restrictions and conditions
attaching to the shares of, each series of First Preferred
Shares, including, without limiting the generality of the
foregoing, the rate, amount or method of calculation of
dividends thereon, the time and place of payment of dividends
thereon, the conditions for and the terms and conditions of any
purchase for cancellation, retraction or redemption thereof,
conversion or exchange rights (if any), and whether into or for
securities of the Corporation or otherwise, voting rights
attached thereto (if any), the terms and conditions of any share
purchase or retirement plan or sinking fund, and restrictions on
the payment of dividends on any shares other than First
Preferred Shares or payment in respect of capital on any shares
in the capital of the Corporation or creation or issue of debt
or equity securities; the whole subject to filing with the
Registrar (as defined in the Business Corporations Act (Alberta)
or any successor legislation thereto) of articles of amendment
setting forth a description of such series including the
designation, rights, privileges, restrictions and conditions
attached to the shares of such series.
(b) Ranking of the First Preferred Shares: The First Preferred
Shares of each series shall rank on a parity with the First
Preferred Shares of every other series with respect to declared
<PAGE> 4
Exhibit 7-A
Page 4 of 5
or accumulated dividends and return of capital. The First
Preferred Shares shall be entitled to a preference over the
Common Shares and over any other shares of the Corporation
ranking junior to the First Preferred Shares with respect to
priority in the payment of dividends and in the distribution of
assets of the Corporation in the event of the liquidation,
dissolution or winding-up of the Corporation, whether voluntary
or involuntary, or any other distribution of the assets of the
Corporation among its shareholders for the purpose of winding-up
its affairs. If any declared or cumulative dividends or amounts
payable on a return of capital are not paid in full, the First
Preferred Shares of all series shall participate ratably in
respect of such dividends, including accumulations, if any, in
accordance with the sums that would be payable on such shares if
all such dividends were declared and paid in full, and in
respect of any repayment of capital in accordance with the sums
that would be payable on such repayment of capital if all sums
so payable were paid in full; provided, however, that in the
event of there being insufficient assets to satisfy in full all
such claims as aforesaid, the claims of the holders of the First
Preferred Shares with respect to repayment of capital shall
first be paid and satisfied and any assets remaining thereafter
shall be applied towards payment in satisfaction of claims in
respect of dividends. The First Preferred Shares of any series
may also be given such other preferences not inconsistent with
clauses (a) to (e) hereof over any other shares ranking junior
to the First Preferred Shares as may be determined in the case
of such series of First Preferred Shares.
(c) Voting Rights: Except as hereinafter referred to or as required
by law or in accordance with any voting rights which may from
time to time be attached to any series of First Preferred
Shares, the holders of First Preferred Shares as a class shall
not be entitled as such to receive notice of, to attend or to
vote at any meeting of the shareholders of the Corporation. The
holders of the First Preferred Shares shall, however, be
entitled to notice of meetings of the shareholders called for
the purpose of authorizing the voluntary liquidation and
dissolution of the Corporation or the sale of its undertaking or
a substantial part thereof under subsection 204(3) or subsection
183(4) of the Business Corporations Act (Alberta) as now enacted
or as the same may from time to time be amended, re-enacted or
replaced.
(d) Changes to Class Rights: The rights, privileges, restrictions
and conditions attaching to the First Preferred Shares as a
class may be added to, changed or removed but only with the
approval of the holders of the First Preferred Shares given as
herein specified.
(e) Approval of Changes to Class Rights: The rights, privileges,
restrictions and conditions attaching to the First Preferred
Shares as a class as provided herein and as may be provided from
time to time may be repealed, altered, modified, amended or
amplified or otherwise varied only with the approval of the
holders of the First Preferred Shares given in such manner as
may then be required by law, subject to a minimum requirement
that such approval be given by two-thirds of the votes cast at a
<PAGE> 5
Exhibit 7-A
Page 5 of 5
meeting of holders of First Preferred Shares duly called for
such purpose and held upon at least twenty-one (21) days' notice
at which a quorum is present comprising at least two persons
present holding or representing by proxy at least fifty (50%)
per cent of the outstanding First Preferred Shares. If any such
quorum is not present within half an hour after the time
appointed for the meeting, then the meeting shall be adjourned
to a date being not less than ten (10) days later and at such
time and place as may be appointed by the chairman at which a
quorum shall be comprised of that number of holders of First
Preferred Shares present in person or by proxy. The formalities
to be observed with respect to giving of notice of any such
meeting or adjourned meeting and the conduct thereof shall be
those which may from time to time be prescribed by the by-laws
of the Corporation with respect to meetings of shareholders. On
every vote taken at every such meeting or adjourned meeting each
holder of a First Preferred Share shall be entitled to one vote
in respect of each First Preferred Share held.
Exhibit 7-A
Page 3 of 5
<PAGE> 1
Exhibit 8-A
Page 1 of 1
BUSINESS CORPORATIONS
ACTFORM
4
SECTION 27 OR
171)
1. NAME OF
2. CORPORATE ACCESS NUMBER:
758117 ALBERTA LTD.
20758117
3. THE ARTICLES OF THE ABOVE-NAMED CORPORATION ARE AMENDED AS FOLLOWS:
The name of the Corporation
is: Columbia Natural Resources Canada, Ltd.
<TABLE>
<CAPTION>
DATE SIGNATURE
TITLE
<S> <C>
December 12, (Signed) "Clifford D. Johnson"
Director
1997 Clifford D. Johnson
FOR DEPARTMENTAL USE
FILED
ONLY
</TABLE>
REG 3054 (95/11) FORM
4
<PAGE> 1
Exhibit 9-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
TRISTAR CAPITAL CORPORATION
================================================================================
TRISTAR CAPITAL CORPORATION, a corporation organized and existing under
and by virtue of the General Corporation Law of the State of Delaware (the
"Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated May 5, 1998, adopted resolutions proposing and declaring
advisable an amendment to part FIRST of the Certificate of Incorporation of said
Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Energy Group Capital Corporation, the amendment to be effective by
deleting part FIRST of said Certificate of Incorporation and inserting in
lieu thereof the following:
FIRST. The name of the Corporation is Columbia Energy Group
Capital Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and its stockholders
and, to effectuate the foregoing, it is hereby directed that the
foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of State of the State of Delaware, notwithstanding
authorization of such amendment by the stockholders of the Corporation,
the Board of Directors of the Corporation may abandon such amendment
without further action by the stockholders of the Corporation; and
<PAGE> 2
Exhibit 9-A
Page 2 of 2
RESOLVED, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take any and all other actions necessary or appropriate
to carry forward the foregoing resolutions.
SECOND: That in lieu of a meeting and vote of the stockholders, Columbia
Energy Group, being the holder of the outstanding stock of the Corporation
having not less than the minimum number of votes that would be necessary to
authorize or take action at a meeting at which all shares entitled to vote
thereon were present and voted, approved said amendment by written Consent dated
as of May 5, 1998 in accordance with the provisions of Section 228(a) of the
General Corporation Law of the State of Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 (by the written consent of the
sole stockholder of the Corporation) of the General Corporation Law of the State
of Delaware.
IN WITNESS WHEREOF, TriStar Capital Corporation has caused this
Certificate to be signed by Mr. Philip R. Aldridge, its President, and attested
by Ms. Sharon B. Heaton, its Secretary, this 2nd day of June, 1998.
<TABLE>
<S> <C>
By:
-------------------------
President
ATTEST:
--------------------------
Secretary
</TABLE>
<PAGE> 1
Exhibit 10-A
Page 1 of 3
CERTIFICATE OF INCORPORATION
OF
COLUMBIA ENERGY TELECOMMUNICATIONS COMPANY
* * * * *
1. The name of the corporation is Columbia Energy Telecommunications
Company.
2. The address of its registered office in the State of Delaware is
Corporation Trust Center, 1209 Orange Street, in the City of Wilmington, County
of New Castle. The name of its registered agent at such address is The
Corporation Trust Company.
3. The nature of the business or purpose to be conducted or promoted is:
To engage in any lawful act or activity for which corporations may be
organized under the General Corporation Law of Delaware.
In general, to possess and exercise all the powers and privileges
granted by the General Corporation Law of Delaware or by any other law of
Delaware or by this Certificate of Incorporation together with any powers
incidental thereto, so far as such powers and privileges are necessary or
convenient to the conduct, promotion or attainment of the business or purposes
of the corporation.
The business and purposes specified in the foregoing clauses shall,
except where otherwise expressed, be in nowise limited or restricted by
reference to, or interference from, the terms of any other clause in this
Certificate of Incorporation, but the business and purposes specified in each of
the foregoing clauses of this article shall be regarded as independent business
and purposes.
4. The total number of shares of stock which the corporation shall have
authority to issue is: Three Thousand (3,000) and the par value of each of such
shares is One Dollars and Zero Cents ($1) amounting in the aggregate to Three
Thousand Dollars and Zero Cents ($3,000).
At all elections of directors of the corporation, each stockholder
shall be entitled to as many votes as shall equal the number of votes which
(except for such provision as to cumulative voting) he would be entitled to cast
for the election of directors with respect to his shares of stock multiplied by
the number o directors to be elected by him, and he may cast all of such votes
for a single director or may distribute them among the number to be voted for,
or for any two or more of them as he may see fit.
5. The name and mailing address of each incorporator is as follows:
<TABLE>
<CAPTION>
NAME MAILING ADDRESS
<S> <C>
M. C. Kinnamon 1209 Orange Street, Wilmington, DE 19801
C. L. Hughes 1209 Orange Street, Wilmington, DE 19801
S. A. Clegg 1209 Orange Street, Wilmington, DE 19801
</TABLE>
<PAGE> 2
Exhibit 10-A
Page 2 of 3
The name and mailing address of each person who is to serve as a
director until the first annual meeting of the stockholders or until a successor
is elected and qualified, is as follows:
<TABLE>
<CAPTION>
NAME MAILING ADDRESS
---- ---------------
<S> <C>
Catherine G. Abbott 12801 Fair Lakes Parkway, Fairfax, VA 22030
Michael W. O'Donnell 12355 Sunrise Valley Drive, Suite 300
Reston, VA 20191
Oliver G. Richard III 12355 Sunrise Valley Drive, Suite 300
Reston, VA 20191
</TABLE>
6. The corporation is to have perpetual existence.
7. In furtherance and not in limitation of the powers conferred by
statute, the board of directors is expressly authorized:
To make, alter or repeal the by-laws of the corporation.
To authorize and cause to be executed mortgages and liens upon the
real and personal property of the corporation.
To set apart out of any of the funds of the corporation available for
dividends a reserve or reserves for any proper purpose and to abolish any such
reserve in the manner in which it was created.
To designate one or more committees, each committee to consist of one
or more of the directors of the corporation. The board may designate one or more
directors as alternate members of any committee, who may replace any absent or
disqualified member at any meeting of the committee. The by-laws may provide
that in the absence or disqualification of a member of a committee, the member
or members present at any meeting and not disqualified from voting, whether or
not such member or members constitute a quorum, may unanimously appoint another
member of the board of directors to act at the meeting in the place of any such
absent or disqualified member. Any such committee, to the extent provided in the
resolution of the board of directors, or in the by-laws of the corporation,
shall have and may exercise all the powers and authority of the board of
directors in the management of the business and affairs of the corporation, and
may authorize the seal of the corporation to be affixed to all papers which may
require it; but no such committee shall have the power or authority in reference
to the following matters: (i) approving or adopting, or recommending to the
stockholders, any action or matter expressly required by the Delaware General
Corporation Law to be submitted to stockholders for approval or (ii) adopting,
amending or repealing any by-law of the corporation.
When and as authorized by the stockholders in accordance with law, to
sell, lease or exchange all or substantially all of the property and assets of
the corporation, including its good will and its corporate franchises, upon such
terms and conditions and for such consideration, which may consist in whole or
in part of money or property including shares of stock in, and/or other
securities of, any other corporation or corporations as its board of directors
shall deem expedient and for the best interests of the corporation.
8. Elections of directors need not be by written ballot unless the
by-laws of the corporation shall so provide.
Meetings of stockholders may be held within or without the State of
Delaware, as the by-laws may provide. The books of the corporation may be kept
(subject to any provision contained in the statutes) outside the State of
Delaware at such place or places as may be designated from time to time by the
board of directors or in the by-laws of the corporation.
<PAGE> 3
Exhibit 10-A
Page 3 of 3
Whenever a compromise or arrangement is proposed between this
corporation and its creditors or any class of them and/or between this
corporation and its stockholders or any class of them, any court of equitable
jurisdiction within the State of Delaware may, on the application in a summary
way of this corporation or of any creditor or stockholder thereof or application
in a summary way of this corporation or of any creditor or stockholder thereof
or on the application of any receiver or receivers appointed for this
corporation under the provisions of Section 291 of Title 8 of the Delaware Code
or on the application of trustees in dissolution or of any receiver or receivers
appointed for this corporation under the provisions of Section 279 of Title 8 of
the Delaware Code order a meeting of the creditors or class of creditors, and/or
of the stockholders or class of stockholders of this corporation, as the case
may be, to be summoned in such manner as the said court directs. If a majority
in number representing three-fourths in value of the creditors or class of
creditors, and/or of the stockholders or class of stockholders of this
corporation, as the case may be, agree to any compromise or arrangement and to
any reorganization of this corporation as a consequence of such compromise or
arrangement, the said compromise or arrangement and the said reorganization
shall, if sanctioned by the court to which the said application has been made,
be binding on all the creditors or class of creditors, and/or on all the
stockholders or class of stockholders, of this corporation, as the case may be,
and also on this corporation.
9. The corporation reserves the right to amend, alter, change or repeal
any provision contained in this Certificate of Incorporation, in the manner now
or hereafter prescribed by statute, and all rights conferred upon stockholders
herein are granted subject to this reservation.
10. A director of the corporation shall not be personally liable to the
corporation or its stockholders for monetary damages for breach of fiduciary
duty as a director except for liability (i) for any breach of the director's
duty of loyalty to the corporation or it stockholders, (ii) for acts or
omissions not in good faith or which involve intentional misconduct or a knowing
violation of law, (iii) under Section 174 of the Delaware General Corporation
Law, or (iv) for any transaction from which the director derived any improper
personal benefit.
WE, THE UNDERSIGNED, being each of the incorporators hereinbefore named,
for the purpose of forming a corporation pursuant to the General Corporation Law
of the State of Delaware, do make this Certificate, hereby declaring and
certifying that this is our act and deed and the facts herein stated are true,
and accordingly have hereunto set our hands this _________ day of
_______________, 1998.
-----------------------------------------------
M. C. Kinnamon
-----------------------------------------------
C. L. Hughes
-----------------------------------------------
S. A. Clegg
34020
<PAGE> 1
Exhibit 11-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
COLUMBIA ENERGY TELECOMMUNICATIONS COMPANY
================================================================================
COLUMBIA ENERGY TELECOMMUNICATIONS COMPANY, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware (the "Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated ___________________, 1998, adopted resolutions proposing,
declaring advisable and approving an amendment to part FIRST of the Certificate
of Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Transmission Communications Corporation, the amendment to be effective by
deleting part FIRST of said Certificate of Incorporation and inserting in
lieu thereof the following:
FIRST: The name of the Corporation is Columbia Transmission
Communications Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and such amendment
be, and hereby is, approved in accordance with Section 241 of the General
Corporation Law of the State of Delaware; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed to execute, acknowledge and file with the
Secretary of State of the State of Delaware a Certificate of Amendment to
evidence the foregoing amendment to the Corporation's Certificate of
Incorporation; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of
<PAGE> 2
Exhibit 11-A
Page 2 of 2
State of the State of Delaware, the Board of Directors of the Corporation
may abandon such amendment; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take any and all other actions necessary or appropriate
to carry forward the foregoing resolutions.
SECOND: That the Corporation has not received any payment for any of its
stock and that said amendment to its Certificate of Incorporation has been duly
adopted in accordance with the provisions of Section 241 of the General
Corporation Law of the State of Delaware.
IN WITNESS WHEREOF, Columbia Energy Telecommunications Company has caused
this Certificate to be signed by Mr. Philip R. Aldridge, its President, and
attested by Ms. Sharon B. Heaton, its Secretary, this _____ day of
____________________, 1998.
By:________________________
President
ATTEST:______________________
Secretary
<PAGE> 1
Exhibit 12-A
Page 1 of 2
CERTIFICATE OF DISSOLUTION
OF TRISTAR SYSTEM, INC.
TriStar System, Inc., a corporation organized and existing under the laws
of the State of Delaware (the "Corporation"), does hereby certify that:
1. The name of the Corporation is TriStar System, Inc..
2. Dissolution of the corporation has been authorized by the board of
directors and stockholders of the Corporation in accordance with
subsections (a) and (b) of Section 275 of the General Corporation
Law of the State of Delaware (the "DGCL")
3. The date the dissolution of the Corporation was authorized is
August 4, 1998.
4. The names and addresses of the directors and officers of the
Corporation are as follows:
DIRECTORS
---------
Name Address
---- -------
M. J. Gluckman C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
F. R. Gumbinner C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
R. M. Zulandi C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
OFFICERS
--------
Name Address
---- -------
M. J. Gluckman, President and CEO C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
R. M. Zulandi, Senior Vice President C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
J. W. Trost*, Vice President C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
<PAGE> 2
Exhibit 12-A
Page 2 of 2
D. P. Detar, Treasurer C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
S. B. Heaton, Secretary C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
F. R. Gumbinner, Assistant Secretary C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
* Duties limited to signing, executing and delivering on behalf of
the Corporation, applications, pleadings, corporate undertakings,
reports and other documents necessary or appropriate to
proceedings before state and federal regulatory authorities.
5. In lieu of a meeting and vote thereat of the stockholders, the
stockholders have given their unanimous written consent to the
dissolution in accordance with Section 228 of the DGCL.
IN WITNESS WHEREOF, the Corporation has caused this Certificate of
Dissolution to be duly executed this 4th day of August, 1998.
TRISTAR SYSTEM, INC.
By: _______________________________
Name: _________________________
Title: ________________________
<PAGE> 1
Exhibit 13-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
TRISTAR PEDRICK GENERAL CORPORATION
- --------------------------------------------------------------------------------
TRISTAR PEDRICK GENERAL CORPORATION, a corporation organized and existing
under and by virtue of the General Corporation Law of the State of Delaware (the
"Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated August 4, 1998, adopted resolutions proposing and
declaring advisable an amendment to part FIRST of the Certificate of
Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Electric Pedrick General Corporation, the amendment to be effective by
deleting part FIRST of said Certificate of Incorporation and inserting in
lieu thereof the following:
FIRST: The name of the Corporation is Columbia Electric Pedrick
General Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and its stockholders
and, to effectuate the foregoing, it is hereby directed that the
foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of State of the State of Delaware, notwithstanding
authorization of such amendment by the stockholders of the Corporation,
the Board of Directors of the Corporation may abandon such amendment
without further action by the stockholders of the Corporation; and
RESOLVED, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take such other actions as are necessary or appropriate
to carry into effect the purposes of the foregoing resolutions.
<PAGE> 2
Exhibit 13-A
Page 2 of 2
SECOND: That in lieu of a meeting and vote of the stockholders, Columbia
Electric Corporation, being the holder of the outstanding stock of the
Corporation having not less than the minimum number of votes that would be
necessary to authorize or take action at a meeting at which all shares entitled
to vote thereon were present and voted, approved said amendment by written
Consent dated as of August 4, 1998 in accordance with the provisions of Section
228(a) of the General Corporation Law of the State of Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 of the General Corporation Law of
the State of Delaware by the written consent of the sole stockholder of the
Corporation.
IN WITNESS WHEREOF, TriStar Pedrick General Corporation has caused this
Certificate to be signed by Mr. Michael J. Gluckman, its President and Chief
Executive Officer, and attested by Mr. Fredric R. Gumbinner, its Assistant
Secretary, this 4th day of August, 1998.
By: _____________________________________
President and Chief Executive Officer
ATTEST:_________________________
Assistant Secretary
<PAGE> 1
Exhibit 14-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
TRISTAR PEDRICK LIMITED CORPORATION
- --------------------------------------------------------------------------------
TRISTAR PEDRICK LIMITED CORPORATION, a corporation organized and existing
under and by virtue of the General Corporation Law of the State of Delaware (the
"Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated August 4, 1998, adopted resolutions proposing and
declaring advisable an amendment to part FIRST of the Certificate of
Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Electric Pedrick Limited Corporation, the amendment to be effective by
deleting part FIRST of said Certificate of Incorporation and inserting in
lieu thereof the following:
FIRST: The name of the Corporation is Columbia Electric Pedrick
Limited Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and its stockholders
and, to effectuate the foregoing, it is hereby directed that the
foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of State of the State of Delaware, notwithstanding
authorization of such amendment by the stockholders of the Corporation,
the Board of Directors of the Corporation may abandon such amendment
without further action by the stockholders of the Corporation; and
RESOLVED, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take such other actions as are necessary or appropriate
to carry into effect the purposes of the foregoing resolutions.
<PAGE> 2
Exhibit 14-A
Page 2 of 2
SECOND: That in lieu of a meeting and vote of the stockholders, Columbia
Electric Corporation, being the holder of the outstanding stock of the
Corporation having not less than the minimum number of votes that would be
necessary to authorize or take action at a meeting at which all shares entitled
to vote thereon were present and voted, approved said amendment by written
Consent dated as of August 4, 1998 in accordance with the provisions of Section
228(a) of the General Corporation Law of the State of Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 of the General Corporation Law of
the State of Delaware by the written consent of the sole stockholder of the
Corporation.
IN WITNESS WHEREOF, TriStar Pedrick Limited Corporation has caused this
Certificate to be signed by Mr. Michael J. Gluckman, its President and Chief
Executive Officer, and attested by Mr. Fredric R. Gumbinner, its Assistant
Secretary, this 4th day of August, 1998.
By: ____________________________________
President and Chief Executive Officer
ATTEST:_________________________
Assistant Secretary
<PAGE> 1
Exhibit 15-A
Page 1 of 2
CERTIFICATE OF DISSOLUTION
OF TRISTAR FUEL CELLS CORPORATION
TriStar Fuel Cells Corporation, a corporation organized and existing
under the laws of the State of Delaware (the "Corporation"), does hereby certify
that:
1. The name of the Corporation is TriStar Fuel Cells Corporation.
2. Dissolution of the corporation has been authorized by the board of
directors and stockholders of the Corporation in accordance with
subsections (a) and (b) of Section 275 of the General Corporation
Law of the State of Delaware (the "DGCL")
3. The date the dissolution of the Corporation was authorized is
August 4, 1998.
4. The names and addresses of the directors and officers of the
Corporation are as follows:
DIRECTORS
---------
Name Address
---- -------
M. J. Gluckman C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
F. R. Gumbinner C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
R. M. Zulandi C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
OFFICERS
--------
Name Address
---- -------
M. J. Gluckman, President and CEO C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
R. M. Zulandi, Senior Vice President C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
J. W. Trost*, Vice President C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
<PAGE> 2
Exhibit 15-A
Page 2 of 2
D. P. Detar, Treasurer C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
S. B. Heaton, Secretary C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
F. R. Gumbinner, Assistant Secretary C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
* Duties limited to signing, executing and delivering on behalf of
the Corporation, applications, pleadings, corporate undertakings,
reports and other documents necessary or appropriate to
proceedings before state and federal regulatory authorities.
5. In lieu of a meeting and vote thereat of the stockholders, the
stockholders have given their unanimous written consent to the
dissolution in accordance with Section 228 of the DGCL.
IN WITNESS WHEREOF, the Corporation has caused this Certificate of
Dissolution to be duly executed this 4th day of August, 1998.
TRISTAR FUEL CELLS CORPORATION
By: _______________________________
Name: _________________________
Title: ________________________
<PAGE> 1
Exhibit 16-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
TRISTAR BINGHAMTON GENERAL CORPORATION
- --------------------------------------------------------------------------------
TRISTAR BINGHAMTON GENERAL CORPORATION, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware (the "Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated August 4, 1998, adopted resolutions proposing and
declaring advisable an amendment to part FIRST of the Certificate of
Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Electric Binghamton General Corporation, the amendment to be effective by
deleting part FIRST of said Certificate of Incorporation and inserting in
lieu thereof the following:
FIRST: The name of the Corporation is Columbia Electric Binghamton
General Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and its stockholders
and, to effectuate the foregoing, it is hereby directed that the
foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of State of the State of Delaware, notwithstanding
authorization of such amendment by the stockholders of the Corporation,
the Board of Directors of the Corporation may abandon such amendment
without further action by the stockholders of the Corporation; and
RESOLVED, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take such other actions as are necessary or appropriate
to carry into effect the purposes of the foregoing resolutions.
<PAGE> 2
Exhibit 16-A
Page 2 of 2
SECOND: That in lieu of a meeting and vote of the stockholders, Columbia
Electric Corporation, being the holder of the outstanding stock of the
Corporation having not less than the minimum number of votes that would be
necessary to authorize or take action at a meeting at which all shares entitled
to vote thereon were present and voted, approved said amendment by written
Consent dated as of August 4, 1998 in accordance with the provisions of Section
228(a) of the General Corporation Law of the State of Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 of the General Corporation Law of
the State of Delaware by the written consent of the sole stockholder of the
Corporation.
IN WITNESS WHEREOF, TriStar Binghamton General Corporation has caused
this Certificate to be signed by Mr. Michael J. Gluckman, its President and
Chief Executive Officer, and attested by Mr. Fredric R. Gumbinner, its Assistant
Secretary, this 4th day of August, 1998.
By: _____________________________________
President and Chief Executive Officer
ATTEST:_________________________
Assistant Secretary
<PAGE> 1
Exhibit 17-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
TRISTAR BINGHAMTON LIMITED CORPORATION
- --------------------------------------------------------------------------------
TRISTAR BINGHAMTON LIMITED CORPORATION, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware (the "Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated August 4, 1998, adopted resolutions proposing and
declaring advisable an amendment to part FIRST of the Certificate of
Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Electric Binghamton Limited Corporation, the amendment to be effective by
deleting part FIRST of said Certificate of Incorporation and inserting in
lieu thereof the following:
FIRST: The name of the Corporation is Columbia Electric Binghamton
Limited Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and its stockholders
and, to effectuate the foregoing, it is hereby directed that the
foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of State of the State of Delaware, notwithstanding
authorization of such amendment by the stockholders of the Corporation,
the Board of Directors of the Corporation may abandon such amendment
without further action by the stockholders of the Corporation; and
RESOLVED, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take such other actions as are necessary or appropriate
to carry into effect the purposes of the foregoing resolutions.
<PAGE> 2
Exhibit 17-A
Page 2 of 2
SECOND: That in lieu of a meeting and vote of the stockholders, Columbia
Electric Corporation, being the holder of the outstanding stock of the
Corporation having not less than the minimum number of votes that would be
necessary to authorize or take action at a meeting at which all shares entitled
to vote thereon were present and voted, approved said amendment by written
Consent dated as of August 4, 1998 in accordance with the provisions of Section
228(a) of the General Corporation Law of the State of Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 of the General Corporation Law of
the State of Delaware by the written consent of the sole stockholder of the
Corporation.
IN WITNESS WHEREOF, TriStar Binghamton Limited Corporation has caused
this Certificate to be signed by Mr. Michael J. Gluckman, its President and
Chief Executive Officer, and attested by Mr. Fredric R. Gumbinner, its Assistant
Secretary, this 4th day of August, 1998.
By: _____________________________________
President and Chief Executive Officer
ATTEST:_________________________
Assistant Secretary
<PAGE> 1
Exhibit 18-A
Page 1 of 2
CERTIFICATE OF DISSOLUTION
OF TRISTAR GEORGETOWN GENERAL CORPORATION
TriStar Georgetown General Corporation, a corporation organized and
existing under the laws of the State of Delaware (the "Corporation"), does
hereby certify that:
1. The name of the Corporation is TriStar Georgetown General
Corporation.
2. Dissolution of the corporation has been authorized by the board of
directors and stockholders of the Corporation in accordance with
subsections (a) and (b) of Section 275 of the General Corporation
Law of the State of Delaware (the "DGCL")
3. The date the dissolution of the Corporation was authorized is
August 4, 1998.
4. The names and addresses of the directors and officers of the
Corporation are as follows:
DIRECTORS
---------
Name Address
---- -------
M. J. Gluckman C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
F. R. Gumbinner C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
R. M. Zulandi C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
OFFICERS
--------
Name Address
---- -------
M. J. Gluckman, President and CEO C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
R. M. Zulandi, Senior Vice President C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
J. W. Trost*, Vice President C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
<PAGE> 2
Exhibit 18-A
Page 2 of 2
D. P. Detar, Treasurer C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
S. B. Heaton, Secretary C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
F. R. Gumbinner, Assistant Secretary C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
* Duties limited to signing, executing and delivering on behalf of
the Corporation, applications, pleadings, corporate undertakings,
reports and other documents necessary or appropriate to
proceedings before state and federal regulatory authorities.
5. In lieu of a meeting and vote thereat of the stockholders, the
stockholders have given their unanimous written consent to the
dissolution in accordance with Section 228 of the DGCL.
IN WITNESS WHEREOF, the Corporation has caused this Certificate of
Dissolution to be duly executed this 4th day of August, 1998.
TRISTAR GEORGETOWN GENERAL CORPORATION
By: __________________________________
Name: ____________________________
Title:____________________________
<PAGE> 1
Exhibit 19-A
Page 1 of 2
CERTIFICATE OF DISSOLUTION
OF TRISTAR GEORGETOWN LIMITED CORPORATION
TriStar Georgetown Limited Corporation, a corporation organized and
existing under the laws of the State of Delaware (the "Corporation"), does
hereby certify that:
1. The name of the Corporation is TriStar Georgetown Limited
Corporation.
2. Dissolution of the corporation has been authorized by the board of
directors and stockholders of the Corporation in accordance with
subsections (a) and (b) of Section 275 of the General Corporation
Law of the State of Delaware (the "DGCL")
3. The date the dissolution of the Corporation was authorized is
August 4, 1998.
4. The names and addresses of the directors and officers of the
Corporation are as follows:
DIRECTORS
---------
Name Address
---- -------
M. J. Gluckman C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
F. R. Gumbinner C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
R. M. Zulandi C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
OFFICERS
--------
Name Address
---- -------
M. J. Gluckman, President and CEO C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
R. M. Zulandi, Senior Vice President C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
J. W. Trost*, Vice President C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
<PAGE> 2
Exhibit 19-A
Page 2 of 2
D. P. Detar, Treasurer C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
S. B. Heaton, Secretary C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
F. R. Gumbinner, Assistant Secretary C/O Columbia Energy Group
13880 Dulles Corner Lane
Herndon, VA 20171-4600
* Duties limited to signing, executing and delivering on behalf of
the Corporation, applications, pleadings, corporate undertakings,
reports and other documents necessary or appropriate to
proceedings before state and federal regulatory authorities.
5. In lieu of a meeting and vote thereat of the stockholders, the
stockholders have given their unanimous written consent to the
dissolution in accordance with Section 228 of the DGCL.
IN WITNESS WHEREOF, the Corporation has caused this Certificate of
Dissolution to be duly executed this 4th day of August, 1998.
TRISTAR GEORGETOWN LIMITED CORPORATION
By: _________________________________
Name: ___________________________
Title:___________________________
<PAGE> 1
Exhibit 20-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
TRISTAR VINELAND GENERAL CORPORATION
- --------------------------------------------------------------------------------
TRISTAR VINELAND GENERAL CORPORATION, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware (the "Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated August 4, 1998, adopted resolutions proposing and
declaring advisable an amendment to part FIRST of the Certificate of
Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Electric Vineland General Corporation, the amendment to be effective by
deleting part FIRST of said Certificate of Incorporation and inserting in
lieu thereof the following:
FIRST: The name of the Corporation is Columbia Electric Vineland
General Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and its stockholders
and, to effectuate the foregoing, it is hereby directed that the
foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of State of the State of Delaware, notwithstanding
authorization of such amendment by the stockholders of the Corporation,
the Board of Directors of the Corporation may abandon such amendment
without further action by the stockholders of the Corporation; and
RESOLVED, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take such other actions as are necessary or appropriate
to carry into effect the purposes of the foregoing resolutions.
<PAGE> 2
Exhibit 20-A
Page 2 of 2
SECOND: That in lieu of a meeting and vote of the stockholders, Columbia
Electric Corporation, being the holder of the outstanding stock of the
Corporation having not less than the minimum number of votes that would be
necessary to authorize or take action at a meeting at which all shares entitled
to vote thereon were present and voted, approved said amendment by written
Consent dated as of August 4, 1998 in accordance with the provisions of Section
228(a) of the General Corporation Law of the State of Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 of the General Corporation Law of
the State of Delaware by the written consent of the sole stockholder of the
Corporation.
IN WITNESS WHEREOF, TriStar Vineland General Corporation has caused this
Certificate to be signed by Mr. Michael J. Gluckman, its President and Chief
Executive Officer, and attested by Mr. Fredric R. Gumbinner, its Assistant
Secretary, this 4th day of August, 1998.
By: _____________________________________
President and Chief Executive Officer
ATTEST:_________________________
Assistant Secretary
<PAGE> 1
Exhibit 21-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
TRISTAR VINELAND LIMITED CORPORATION
- --------------------------------------------------------------------------------
TRISTAR VINELAND LIMITED CORPORATION, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware (the "Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated August 4, 1998, adopted resolutions proposing and
declaring advisable an amendment to part FIRST of the Certificate of
Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Electric Vineland Limited Corporation, the amendment to be effective by
deleting part FIRST of said Certificate of Incorporation and inserting in
lieu thereof the following:
FIRST: The name of the Corporation is Columbia Electric Vineland
Limited Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and its stockholders
and, to effectuate the foregoing, it is hereby directed that the
foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of State of the State of Delaware, notwithstanding
authorization of such amendment by the stockholders of the Corporation,
the Board of Directors of the Corporation may abandon such amendment
without further action by the stockholders of the Corporation; and
RESOLVED, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take such other actions as are necessary or appropriate
to carry into effect the purposes of the foregoing resolutions.
<PAGE> 2
Exhibit 21-A
Page 1 of 2
SECOND: That in lieu of a meeting and vote of the stockholders, Columbia
Electric Corporation, being the holder of the outstanding stock of the
Corporation having not less than the minimum number of votes that would be
necessary to authorize or take action at a meeting at which all shares entitled
to vote thereon were present and voted, approved said amendment by written
Consent dated as of August 4, 1998 in accordance with the provisions of Section
228(a) of the General Corporation Law of the State of Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 of the General Corporation Law of
the State of Delaware by the written consent of the sole stockholder of the
Corporation.
IN WITNESS WHEREOF, TriStar Vineland Limited Corporation has caused this
Certificate to be signed by Mr. Michael J. Gluckman, its President and Chief
Executive Officer, and attested by Mr. Fredric R. Gumbinner, its Assistant
Secretary, this 4th day of August, 1998.
By: _____________________________________
President and Chief Executive Officer
ATTEST:_________________________
Assistant Secretary
<PAGE> 1
Exhibit 22-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
TRISTAR RUMFORD LIMITED CORPORATION
- --------------------------------------------------------------------------------
TRISTAR RUMFORD LIMITED CORPORATION, a corporation organized and existing
under and by virtue of the General Corporation Law of the State of Delaware (the
"Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated August 4, 1998, adopted resolutions proposing and
declaring advisable an amendment to part FIRST of the Certificate of
Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Electric Rumford Limited Corporation, the amendment to be effective by
deleting part FIRST of said Certificate of Incorporation and inserting in
lieu thereof the following:
FIRST: The name of the Corporation is Columbia Electric Rumford
Limited Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and its stockholders
and, to effectuate the foregoing, it is hereby directed that the
foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of State of the State of Delaware, notwithstanding
authorization of such amendment by the stockholders of the Corporation,
the Board of Directors of the Corporation may abandon such amendment
without further action by the stockholders of the Corporation; and
RESOLVED, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take such other actions as are necessary or appropriate
to carry into effect the purposes of the foregoing resolutions.
<PAGE> 2
Exhibit 22-A
Page 2 of 2
SECOND: That in lieu of a meeting and vote of the stockholders, Columbia
Electric Corporation, being the holder of the outstanding stock of the
Corporation having not less than the minimum number of votes that would be
necessary to authorize or take action at a meeting at which all shares entitled
to vote thereon were present and voted, approved said amendment by written
Consent dated as of August 4, 1998 in accordance with the provisions of Section
228(a) of the General Corporation Law of the State of Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 of the General Corporation Law of
the State of Delaware by the written consent of the sole stockholder of the
Corporation.
IN WITNESS WHEREOF, TriStar Rumford Limited Corporation has caused this
Certificate to be signed by Mr. Michael J. Gluckman, its President and Chief
Executive Officer, and attested by Mr. Fredric R. Gumbinner, its Assistant
Secretary, this 4th day of August, 1998.
By: _____________________________________
President and Chief Executive Officer
ATTEST:_________________________
Assistant Secretary
<PAGE> 1
Exhibit 23-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
TVC NINE CORPORATION
- --------------------------------------------------------------------------------
TVC NINE CORPORATION, a corporation organized and existing under and by
virtue of the General Corporation Law of the State of Delaware (the
"Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated August 4, 1998, adopted resolutions proposing and
declaring advisable an amendment to part FIRST of the Certificate of
Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Electric Limited Holdings Corporation, the amendment to be effective by
deleting part FIRST of said Certificate of Incorporation and inserting in
lieu thereof the following:
FIRST: The name of the Corporation is Columbia Electric Limited
Holdings Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and its stockholders
and, to effectuate the foregoing, it is hereby directed that the
foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of State of the State of Delaware, notwithstanding
authorization of such amendment by the stockholders of the Corporation,
the Board of Directors of the Corporation may abandon such amendment
without further action by the stockholders of the Corporation; and
RESOLVED, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take such other actions as are necessary or appropriate
to carry into effect the purposes of the foregoing resolutions.
SECOND: That in lieu of a meeting and vote of the stockholders, Columbia
Electric Corporation, being the holder of the outstanding stock of the
Corporation having not less than the
<PAGE> 2
Exhibit 23-A
Page 2 of 2
minimum number of votes that would be necessary to authorize or take action at a
meeting at which all shares entitled to vote thereon were present and voted,
approved said amendment by written Consent dated as of August 4, 1998 in
accordance with the provisions of Section 228(a) of the General Corporation Law
of the State of Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 of the General Corporation Law of
the State of Delaware by the written consent of the sole stockholder of the
Corporation.
IN WITNESS WHEREOF, TVC Nine Corporation has caused this Certificate to
be signed by Mr. Michael J. Gluckman, its President and Chief Executive Officer,
and attested by Mr. Fredric R. Gumbinner, its Assistant Secretary, this 4th day
of August, 1998.
By: _____________________________________
President and Chief Executive Officer
ATTEST:_________________________
Assistant Secretary
<PAGE> 1
Exhibit 24-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
TVC TEN CORPORATION
- --------------------------------------------------------------------------------
TVC TEN CORPORATION, a corporation organized and existing under and by
virtue of the General Corporation Law of the State of Delaware (the
"Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated August 4, 1998, adopted resolutions proposing and
declaring advisable an amendment to part FIRST of the Certificate of
Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors of this Corporation hereby
declares it advisable that the Certificate of Incorporation of this
Corporation be amended to change the name of the Corporation to Columbia
Electric Liberty Corporation, the amendment to be effective by deleting
part FIRST of said Certificate of Incorporation and inserting in lieu
thereof the following:
FIRST: The name of the Corporation is Columbia Electric Liberty
Corporation.
RESOLVED, that the foregoing amendment is advisable and its
adoption is in the best interests of the Corporation and its stockholders
and, to effectuate the foregoing, it is hereby directed that the
foregoing amendment be considered at the next annual meeting of the
stockholders unless earlier approved by written consent in accordance
with Section 228 of the Delaware General Corporation Law; and
RESOLVED, that at any time prior to the filing of the foregoing
amendment to the Corporation's Certificate of Incorporation with the
Secretary of State of the State of Delaware, notwithstanding
authorization of such amendment by the stockholders of the Corporation,
the Board of Directors of the Corporation may abandon such amendment
without further action by the stockholders of the Corporation; and
RESOLVED, that after approval of such amendment by the
stockholders of the Corporation, the officers of the Corporation be, and
they hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, that the officers of the Corporation be, and they hereby
are, authorized and directed from time to time to execute any and all
documents and to take such other actions as are necessary or appropriate
to carry into effect the purposes of the foregoing resolutions.
SECOND: That in lieu of a meeting and vote of the stockholders,
Columbia Electric Corporation, being the holder of the outstanding stock
of the Corporation having not less than the minimum number of votes that
would be necessary to authorize or take action at a meeting at
<PAGE> 2
Exhibit 24-A
Page 2 of 2
which all shares entitled to vote thereon were present and voted, approved said
amendment by written Consent dated as of August 4, 1998 in accordance with the
provisions of Section 228(a) of the General Corporation Law of the State of
Delaware.
THIRD: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 of the General Corporation Law of
the State of Delaware by the written consent of the sole stockholder of the
Corporation.
IN WITNESS WHEREOF, TVC Ten Corporation has caused this Certificate to be
signed by Mr. Michael J. Gluckman, its President and Chief Executive Officer,
and attested by Mr. Fredric R. Gumbinner, its Assistant Secretary, this 4th day
of August, 1998.
By: _____________________________________
President and Chief Executive Officer
ATTEST:_________________________
Assistant Secretary
<PAGE> 1
Exhibit 1-B
Page 1 of 21
BY-LAWS
Of
COLUMBIA ENERGY GROUP
---------
ARTICLE I.
SEAL.
The corporate seal of the Corporation shall consist of a metallic stamp
circular in form, bearing in its center the figures "1926" and the words
"Incorporated" and "Delaware" and on the outer edge the name of the Corporation.
ARTICLE II.
OFFICES.
The location of the Corporation's principal office shall be in the County
of New Castle, State of Delaware.
The Corporation may, in addition to its principal office in the State of
Delaware, establish and maintain an office or offices in such other states and
places as the Board of Directors may from time to time find necessary or
desirable.
The books, documents, and papers of the Corporation, except as may be
otherwise required by the laws of the State of
<PAGE> 2
Exhibit 1-B
Page 2 of 21
Delaware, may be kept outside of the said State at such places as the Board of
Directors may from time to time designate.
ARTICLE III.
CAPITAL STOCK.
Every stockholder shall be entitled to have a certificate, signed by, or
in the name of the Corporation by, the Chairman of the Board, the President or a
Vice President and the Treasurer or an Assistant Treasurer or the Secretary or
an Assistant Secretary of the Corporation, certifying the number of shares owned
by him in the Corporation; provided, however, that any such signature on the
certificate may be a facsimile. In case any officer or officers, Transfer Agent
or Registrar who shall have signed, or whose facsimile signature or signatures
shall have been used on any such certificate or certificates shall cease to be
such officer or officers of the Corporation, Transfer Agent or Registrar,
whether because of death, resignation or otherwise, before such certificate or
certificates shall have been delivered by the Corporation, such certificate or
certificates may nevertheless be issued and delivered as though the person or
persons who signed such certificate or certificates or whose facsimile signature
or signatures shall have been used thereon had not ceased to be such officer or
officers of the Corporation, Transfer Agent or Registrar. Such certificates
shall be transferable on the stock books of the Corporation in person or by
attorney, but, except as hereinafter provided in the case of loss, destruction
or mutilation of certificates, no transfer of stock shall be entered until the
previous certificate, if any, given for the same shall have been surrendered and
cancelled.
The person in whose name shares of stock stand on the books of the
Corporation shall be deemed the owner thereof for all purposes as regards the
Corporation.
The Board of Directors may make such rules and regulations as it may deem
expedient, not inconsistent with these
<PAGE> 3
Exhibit 1-B
Page 2 of 21
By-Laws, concerning the issue, transfer and registration of certificates for
shares of the capital stock of the Corporation. It may appoint one or more
Transfer Agents or one or more Registrars or both, and may require all
certificates of stock to bear the signature of either or both.
In order that the Corporation may determine the stockholders entitled to
notice of, or to vote at, a meeting of stockholders or any adjournment thereof,
or to express consent to corporate action in writing without a meeting, or
entitled to receive payment of any dividend or other distribution or allotment
of any rights, or entitled to exercise any rights in respect of any other
change, conversion or exchange of stock or for the purpose of any other lawful
action, the Board of Directors may fix in advance a record date, which shall not
be more than sixty nor less than ten days before the date of such meeting, nor
more than sixty days prior to any other action. If in any case involving the
determination of stockholders for any purpose other than notice of or voting at
a meeting of stockholders the Board shall not fix such a record date, the record
date for determining stockholders for such purpose shall be the close of
business on the day on which the Board shall adopt the resolution relating
thereto. A determination of stockholders entitled to notice of, or to vote at, a
meeting of stockholders, shall apply to any adjournment of the meeting;
provided, however, that the Board may fix a new record date for the adjourned
meeting.
In case of loss, destruction or mutilation of any certificate of stock,
another may be issued in its place upon proof of such loss, destruction or
mutilation and upon the giving to the Corporation of a bond sufficient to
indemnify the Corporation, its Transfer Agents and Registrars, against any claim
that may be made against it or them on account of the alleged loss or
destruction of any such certificate or the issuance of such new certificate;
provided, however, that a new certificate may be issued without requiring any
bond when, in the judgment of the Board of Directors, it is proper so to do.
<PAGE> 4
Exhibit 1-B
Page 3 of 21
ARTICLE IV.
STOCKHOLDERS' MEETINGS.
(a) All meetings of the stockholders shall be held either at the principal
office of the Corporation in the State of Delaware, or at such other place,
either within or without the State of Delaware as the Board of Directors shall
determine. The place at which any given meeting shall be held shall be
distinctly specified in the notice of such meeting.
(b) The annual meeting of the stockholders of the Corporation, for the
election of Directors and for the transaction of such other business as may come
before the meeting, shall be held on the second Wednesday in May of each year,
at one o'clock in the afternoon, unless such day shall fall on a legal holiday,
in which event the annual meeting shall be held on the day following. Such date
and time of meeting may be changed by action of the Board of Directors.
(c) Special meetings of stockholders of the Corporation may be called only
by the Board of Directors pursuant to a resolution adopted by a majority of the
total number of authorized directors (whether or not there exist any vacancies
in previously authorized directorships at the time any such resolution is
presented to the Board for adoption).
(d) If the annual meeting of the stockholders be not held as herein
prescribed, the election of Directors may be held at any meeting thereafter
called pursuant to these By-Laws.
<PAGE> 5
Exhibit 1-B
Page 4 of 21
(e) Notice of the annual and of all special meetings of the stockholders
shall be given each holder of stock of the Corporation having power to vote at
such meeting by depositing in the United States mail a written or printed notice
of the same not less than ten nor more than sixty days prior to the meeting,
with postage prepaid, to each such stockholder of record of the Corporation and
addressed to him at his address as registered upon the books of the Corporation.
Except in special cases where other provision is made by statute, no publication
of any notice of a meeting of stockholders shall be required. Every notice of a
meeting of stockholders shall state the place, date and hour of the meeting and,
in the case of a special meeting, the purpose or purposes for which the meeting
is called. Notice of any meeting of stockholders shall not be required to be
given to any stockholder who shall attend such meeting in person or by proxy
except a stockholder who shall attend such meeting for the express purpose of
objecting, at the beginning of the meeting, to the transaction of any business
because the meeting was not lawfully called or convened. Except where otherwise
required by statute for an adjournment exceeding thirty days or if a new record
date is fixed for the adjourned meeting, notice of any adjourned meeting of the
stockholders of the Corporation shall not be required to be given if the time
and place thereof are announced at the meeting which is adjourned.
It shall be the duty of the officer who shall have charge of the stock
ledger of the Corporation to prepare and make, at least ten days before every
meeting of stockholders, a complete list of the stockholders entitled to vote at
said meeting, arranged in alphabetical order, showing their addresses of record
and the number of shares held by each. Such list shall be open to the
examination of any stockholder, for any purpose germane to the meeting, during
ordinary business hours, for a period of at least ten days prior to the meeting,
either at a place within the city, town or village where the meeting is to be
held and which place shall be specified in the notice of the meeting, or, if not
so specified, at the place where said meeting is to be held, and the list shall
be
<PAGE> 6
Exhibit 1-B
Page 5 of 21
produced and kept at the time and place of the meeting during the whole time
thereof, and subject to the inspection of any stockholder who may be present.
(f) The holders of a majority of the stock issued and outstanding and
entitled to vote thereat, present in person, or represented by proxy, shall be
requisite and shall constitute a quorum at all meetings of the stockholders for
the transaction of any business except as otherwise provided by law, by the
Certificate of Incorporation or by these By-Laws. If, however, such majority
shall not be present or represented at any meeting of the stockholders, the
stockholders entitled to vote thereat present in person or by proxy shall have
power to adjourn the meeting from time to time. At any such adjourned meeting at
which the requisite amount of voting stock shall be represented any business may
be transacted which might have been transacted at the meeting as originally
called.
(g) Any action required or permitted to be taken by the stockholders of
the Corporation must be effected at a duly called annual or special meeting of
stockholders of the Corporation and may not be effected by any consent in
writing by such stockholders.
ARTICLE V.
BOARD OF DIRECTORS.
(a) The management of business and affairs of the Corporation shall be
under the direction of a Board of Directors consisting of not less than thirteen
(13) or more than eighteen (18) persons, the exact number to be fixed from time
to time exclusively by the Board of Directors pursuant to a resolution adopted
by a majority of the total number of authorized directors (whether or not there
exist any vacancies in previously authorized
<PAGE> 7
Exhibit 1-B
Page 6 of 21
directorships at the time of any such resolution is presented to the Board for
adoption). At the 1986 annual meeting of stockholders, the directors shall be
divided into three classes, as nearly equal in number as possible, with the
term of office of the first class to expire at the 1987 annual meeting of
stockholders, the term of office of the second class to expire at the 1988
annual meeting of stockholders and the term of office of the third class to
expire at the 1989 annual meeting of the stockholders. Except as otherwise
provided in the Corporation's Certificate of Incorporation, at each annual
meeting of the stockholders following such initial classification and election,
directors elected to succeed those directors whose terms expire shall be
elected for a term of office to expire at the third succeeding annual meeting
of the stockholders after their election.
(b) Any director of the Corporation may resign at any time by giving
written notice thereof to the Corporation. Such resignation shall take effect at
the time specified therefor, and unless otherwise specified with respect thereto
the acceptance of such resignation shall not be necessary to make it effective.
Subject to the rights of the holders of the Preferred Stock to elect directors
under specified circumstances, any director, or the entire Board of Directors,
may be removed from office at any time, but only for cause and only by the
affirmative vote of the holders of at least 80 percent of the combined voting
power of all of the then outstanding shares of stock of all classes and series
of the Corporation entitled to vote generally (the "Voting Stock"), voting
together as a single class (it being understood that, for all purposes of these
By-Laws, each share of the Preferred Stock shall have the number of votes
granted to it pursuant to the Corporation's Certificate of Incorporation or any
designation of terms of any class or series of Preferred Stock made pursuant to
the Certificate of Incorporation). The Corporation must notify the director of
the grounds of his impending removal and the director shall have an opportunity,
at the expense of the Corporation, to present his defense to the
<PAGE> 8
Exhibit 1-B
Page 7 of 21
stockholders by a statement which accompanies or precedes the Corporation's
solicitation of proxies to remove him. The term 'entire Board' as used in these
By-Laws means the total number of directors which the Corporation would have if
there were no vacancies.
(c) Newly created directorships resulting from any increase in the
authorized number of directors or any vacancies in the Board of Directors
resulting from death, resignation, retirement, disqualification, removal from
office or other cause may be filled only by a majority vote of the directors
then in office, even though less than a quorum of the Board of Directors, acting
at a regular or special meeting. If any applicable provision of the Delaware
General Corporation Law expressly confers power on stockholders to fill such a
directorship at a special meeting of stockholders, such a directorship may be
filled at such a meeting only by the affirmative vote of at least 80 percent of
the Voting Stock of the Corporation; provided, however, that when (a) pursuant
to the provision of Article Fourth of the Certificate of Incorporation the
holders of Preferred Stock have the right, and have exercised such right, to
elect directors and (b) The Delaware General Corporation Law expressly confers
on stockholders voting rights as aforesaid, if the directorship to be filled had
been occupied by a director elected by holders of Common Stock, then such
directorship shall be filled by an 80 percent vote as aforesaid, but if such
directorship to be filled had been elected by holders of Preferred Stock, then
such directorship shall be filled by the majority vote of the holders of
Preferred Stock. Any director elected in accordance with the two preceding
sentences shall hold office for the remainder of the full term of the directors
in which the new directorship was created or the vacancy occurred and until such
director's successor shall have been elected and qualified. No decrease in the
authorized number of directors constituting the entire Board of Directors shall
shorten the term of any incumbent director.
<PAGE> 9
Exhibit 1-B
Page 8 of 21
(d) Without prejudice to the general powers conferred by subdivision (a)
of this Article, the Board of Directors shall have and exercise each and every
power granted to them in Article Ninth of the Certificate of Incorporation of
the Corporation.
(e) Regular meetings of the Board of Directors shall be held at such
office or offices, whether within or without the State of Delaware, and at such
times as the Board shall from time to time determine.
Special meetings of the Board of Directors may be called at any time by
the Chief Executive Officer or, if he is incapacitated or unable to call such
meetings, by any member of the Board of Directors. Such meetings may take place
in the office of the Corporation in the State of Delaware or in such office or
offices as the Directors may establish.
(f) Except as aforesaid, notice of all special meetings of the Board of
Directors shall be given to each Director by five days' service of the same by
telegram, or telephone or letter or personally. Notice of any special meeting of
the Board of Directors shall state the place and hour of the meeting, but need
not state the purposes thereof. Notice of any meeting of the Board or of any
Committee need not be given to any Director if waived by him in writing, or by
telegraph or cable, whether before or after such meeting be held, or if he shall
be present at the meeting; and any meeting of the Board of Directors or of any
Committee shall be a legal meeting without any notice thereof having been given,
if all the members shall be present thereat. Notice of regular meetings of the
Board need not be given. In the absence of written instructions from a Director
designating some other address, notice shall be sufficiently given if addressed
to him at his usual business address.
(g) Except as provided in clause (c) of this Article, one-third of the
total number of Directors shall constitute a quorum
<PAGE> 10
Exhibit 1-B
Page 9 of 21
for the transaction of business at all meetings of the Board of Directors; but
less than a quorum may adjourn the meeting.
(h) Each Director of the Corporation shall be entitled to receive such
fixed sum per meeting of the Board of Directors attended, or such annual sum, or
both, as the Board shall from time to time determine, together with his expenses
of attendance at such meeting.
ARTICLE VI.
STANDING COMMITTEES.
(a) The Board of Directors shall, by resolution adopted by a majority of
the whole Board, designate annually three or more of their number, one of whom
shall be the Chief Executive Officer, to constitute an Executive Committee which
shall have power to authorize the seal of the Corporation to be affixed to all
papers which may require it, and shall have and may exercise in the intervals
between the meetings of the Board of Directors the powers of the Board in the
management of the business and affairs of the Corporation (including the power
and authority to declare a dividend and to authorize the issuance of stock)
except the power in reference to amending the Certificate of Incorporation,
adopting an agreement of merger or consolidation, recommending to the
stockholders the sale, lease or exchange of all or substantially all the
Corporation's property and assets, recommending to the stockholders a
dissolution of the Corporation or a revocation of a dissolution, or amending the
By-Laws of the Corporation. The Executive Committee shall study and report to
the Board of Directors on such matters as shall be referred to it by the Board
or by the Chairman of the Board or Chief Executive Officer. The Board of
Directors may also designate one or more other Directors
<PAGE> 11
Exhibit 1-B
Page 10 of 21
as alternate members of the Executive Committee, who may replace any absent or
disqualified member at any meeting of the Committee. In the absence or
disqualification of a member of the Committee, the member or members thereof
present at any meeting and not disqualified from voting, whether or not he or
they constitute a quorum, may unanimously appoint another Director to act at
the meeting in the place of any such absent or disqualified member. Each member
of the Executive Committee shall continue to be a member thereof only during
the pleasure of a majority of the whole Board.
(b) The Board of Directors shall designate the Chairman of the Executive
Committee, who may be any member thereof. In the absence from any meeting of the
Executive Committee of its Chairman, the Committee may appoint a Chairman of the
meeting. At any meeting at which the Executive Committee may exercise its power
to act in intervals between the meetings of the Board in the management of the
business and affairs of the Corporation, the Secretary of the Corporation shall
act as Secretary thereof. In the absence from any such meeting of the Secretary,
and at any other meeting of the Committee, the Committee may appoint a Secretary
of the meeting.
(c) Meetings of the Executive Committee may be called at the request of
any member of the Committee. Two days' notice of each meeting of the Executive
Committee shall be given by mail, telegraph or telephone or be delivered
personally, to each member of the Committee. Notice of any meeting need not be
given to any member of the Executive Committee if waived by him in writing or by
telegraph or cable, whether before or after such meeting be held, or if he shall
be present at the meeting; and any meeting of the Committee shall be a legal
meeting without any notice thereof having been given, if all the members of the
Committee shall be present thereat. In the absence of written instructions from
a member of the Executive Committee designating some other
<PAGE> 12
Exhibit 1-B
Page 11 of 21
address, notice shall be sufficiently given if addressed to him at his usual
business address. Subject to the provisions of this Article VI, the Executive
Committee, by resolution of a majority of all of its members, shall fix its own
rules of procedure and shall keep a record of its proceedings and report them
to the Board of Directors at the next regular meeting thereof after such
proceedings shall have been taken. All such proceedings shall be subject to
revision or alteration by the Board of Directors; provided, however, that third
parties shall not be prejudiced by such revision or alteration.
(d) A quorum of the Executive Committee for the transaction of business
shall consist of not less than one-third of the total number of members thereof
nor less than two members thereof, and the act of a majority of those present at
a meeting at which a quorum is present shall be the act of the Executive
Committee. Less than a quorum may adjourn a meeting. The members of the
Executive Committee shall act only as a committee, and the individual members
shall have no power as such.
(e) Any member of the Executive Committee may resign at any time by giving
written notice to the Chief Executive Officer or to the Secretary of the
Corporation. Such resignation shall take effect at the time specified in such
notice and, unless otherwise specified therein, the acceptance of such
resignation shall not be necessary to make it effective.
(f) Any vacancy in the Executive Committee shall be filled by the vote of
a majority of the whole Board of Directors.
(g) The members of the Executive Committee shall be entitled to receive
such fees and compensation as the Board of Directors may determine.
<PAGE> 13
Exhibit 1-B
Page 12 of 21
(h) The Board of Directors may, by resolution adopted by a majority of the
whole Board, also appoint such other standing or temporary committees from time
to time as they may see fit, investing them with all or any part of their own
powers. All committees shall adopt their own rules of procedure and shall keep
regular minutes of their transactions in books kept in the office of the
Corporation, and shall report the same to the Board of Directors or to the
Executive Committee at the various meetings thereof.
ARTICLE VII.
OFFICERS.
(a) The officers of the Corporation shall be the President, one or more
Vice Presidents, the Secretary and the Treasurer, who shall be elected by the
Board of Directors, and such additional Assistant Secretaries, Assistant
Treasurers, and special subordinate officers as may from time to time be elected
or appointed by the Board of Directors or appointed by the Chief Executive
Officer. A Chairman of the Board and a Vice Chairman of the Board may be elected
by the Board of Directors. The Board shall designate an officer as the Chief
Executive Officer.
Any two of the above offices, not counting the title of Chief Executive
Officer, may be held by the same person.
The Chief Executive Officer shall, if present, preside at all meetings of
the stockholders and at all meetings of the Board of Directors, provided,
however, that if there is a Chairman of the Board who is not the Chief Executive
Officer, the Chairman of the Board, if present, shall preside at all meetings of
the stockholders and the Board of Directors. The Chief Executive Officer or an
<PAGE> 14
Exhibit 1-B
Page 13 of 21
officer designated by him shall make a report on the state of the business of
the Corporation at each annual meeting of stockholders. From time to time, the
Chief Executive Officer or officers designated by him shall report to the
stockholders and to the Board of Directors and to the Executive Committee all
matters within the knowledge of the Chief Executive Officer which in his
judgment the interests of the Corporation may require to be brought to their
notice.
All of the officers of the Corporation shall hold office for one year and
until others are elected or appointed and qualified in their stead, unless in
the election or appointment of the officer it shall be specified that he holds
his office for a shorter period or subject to the pleasure of the Board of
Directors or the Chief Executive Officer.
All vacancies in such offices by resignation, death or otherwise may be
filled by the Board of Directors. In the case of absence or inability to act of
any officer of the Corporation, and of any person herein authorized to act in
his place, the Board of Directors may from time to time delegate the powers or
duties of such officer to any other officer or any Director or other person whom
they may select.
(b) The Chief Executive Officer shall have general and active supervision
and direction over the business and affairs of the Corporation and over its
several officers; subject, however, to the control of the Board of Directors and
of the Executive Committee. He shall see that all orders and resolutions of the
Board of Directors and of the Executive Committee are carried into effect. He
may be ex officio a member of all standing committees of the Board of Directors,
and he shall perform such other duties as may be assigned to him from time to
time by the Board of Directors or by the Executive Committee.
<PAGE> 15
Exhibit 1-B
Page 14 of 21
(c) The Chairman or Vice Chairman of the Board, if elected, shall perform
such duties as from time to time may be assigned by the Board of Directors or by
the Executive Committee.
(d) The President and the Vice Presidents shall perform such duties as the
Board of Directors shall, from time to time, require.
(e) The Treasurer shall keep full and accurate accounts of receipts and
disbursements in books belonging to the Corporation, shall deposit all moneys
and other valuables in the name and to the credit of the Corporation, in such
depositaries as may be directed by the Board of Directors, shall disburse the
funds of the Corporation as may be ordered by the Board or the Chief Executive
Officer taking proper vouchers therefor, and shall render to the Chief Executive
Officer and the Directors whenever they may require it an account of all his
transactions as Treasurer and of the financial condition of the Corporation.
He shall also perform such other duties as the Board of Directors may from
time to time require.
If required by the Board of Directors he shall give the Corporation a bond
in a form and in a sum with surety satisfactory to the Board of Directors for
the faithful performance of the duties of his office and the restoration to the
Corporation in the case of his death, resignation or removal from office, of all
books, papers, vouchers, money and other property of whatever kind in his
possession belonging to the Corporation.
At the request of the Treasurer, or in his absence or inability to act,
the Assistant Treasurer or, if there be more than one, the Assistant Treasurer
designated by the Treasurer, shall perform the duties of the Treasurer and when
so acting shall have the powers of and be subject to all the restrictions of the
Treasurer. The Assistant Treasurers shall perform such other duties as may from
time to time be assigned to them by the Chief Executive Officer, the Treasurer
or the Board of Directors.
<PAGE> 16
Exhibit 1-B
Page 15 of 21
(f) The Secretary shall attend all meetings of the Board of Directors and
of the stockholders and act as Clerk thereof and record all votes and the
minutes of all proceedings in a book to be kept for that purpose, and shall
perform like duties for the standing committees when required.
He shall keep in safe custody the seal of the Corporation and, whenever
authorized by the Board or the Executive Committee, affix the seal to any
instrument requiring the same.
He shall see that proper notice is given of all meetings of the
stockholders of the Corporation and of the Board of Directors and shall perform
such other duties as may be prescribed from time to time by the Board of
Directors or the Chief Executive Officer.
At the request of the Secretary, or in his absence or inability to act,
the Assistant Secretary or, if there be more than one, the Assistant Secretary
designated by the Secretary, shall perform the duties of the Secretary and when
so acting shall have all the powers of and be subject to all the restrictions of
the Secretary. The Assistant Secretaries shall perform such other duties as may
from time to time be assigned to them by the Chief Executive Officer, the
Secretary or the Board of Directors.
(g) Any officer of the Corporation may be removed, either with or without
cause, at any time, by resolution adopted by the Board of Directors at a regular
meeting or at a special meeting of the Board called for that purpose, by any
Committee upon whom such power of removal may be conferred by the Board of
Directors or by a superior officer upon whom such power of removal may be
conferred by the Board of Directors.
ARTICLE VIII.
CONTRACTS, CHECKS, NOTES, ETC.
<PAGE> 17
Exhibit 1-B
Page 16 of 21
(a) All contracts and agreements authorized by the Board of Directors or
the Executive Committee, and all checks, drafts, notes, bonds, bills of exchange
and orders for the payment of money (including orders for repetitive or
non-repetitive electronic funds transfers) shall, unless otherwise directed by
the Board of Directors, or unless otherwise required by law, be signed by any
two of the following officers: the Chairman of the Board, the President, any
Vice President, the Treasurer, the Secretary, any Assistant Treasurer or any
Assistant Secretary; provided that in every case at least one such officer shall
be the Chairman of the Board, the President, a Vice President, the Treasurer or
the Secretary. The Board of Directors may, however, notwithstanding the
foregoing provision, by resolution adopted at any meeting, authorize any of said
officers to sign checks, drafts and such orders for the payment of money singly
and without necessity of countersignature, and may designate officers of the
Corporation other than those named above, or different combinations of such
officers, who may, in the name of the Corporation, execute checks, drafts, and
such orders for the payment of money in its behalf. Further, the Treasurer is
authorized to designate to the Corporation's banks, in writing, individuals
employed in the Columbia Energy Group Service Corporation Cash Management
Department, who need not be officers or employees of the Corporation, to give in
the name of the Corporation telephonic, telegraphic, or electronic transfer
instructions for the payment of money, which may, with respect to routine items,
include instructions as to the amount to be transferred, to any bank, pursuant
to previously issued written orders, signed by officers of the Corporation in
any manner provided above, which designate the recipients of such amounts and
which identify what shall be treated as routine items.
(b) Anything in subdivision (a) of this Article VIII to the contrary
notwithstanding, the officers of this Corporation may open in the name of the
Corporation special accounts appropriately
<PAGE> 18
Exhibit 1-B
Page 17 of 21
designated in which shall be deposited funds of the Corporation transferred
from the Corporation's other accounts by its checks signed in accordance with
the requirements of subdivision (a) of this Article VIII, but from which
special accounts funds may be disbursed by check, draft, or other instrument of
the Corporation designated as drawn against such special account and signed by
the single signature of any one of the executive officers of the Corporation
authorized by subdivision (a) of this Article VIII to sign checks, drafts and
other instruments of the Corporation or signed by the single signature of any
other person expressly authorized by the Board to sign checks, drafts and other
instruments disbursing funds from such special accounts.
(c) Anything in subdivision (a) of this Article VIII to the contrary
notwithstanding, (i) bonds, notes, debentures and other evidence of indebtedness
of the Corporation issued under an indenture may be executed in the name of the
Corporation by the facsimile signature, printed, engraved or otherwise used
thereon, of the Chairman of the Board, the President or any Vice President of
the Corporation, and the corporate seal affixed thereto or impressed, printed,
engraved or otherwise reproduced thereon may be attested by the facsimile
signature of the Secretary or an Assistant Secretary of the Corporation,
provided that the indenture require the same to be authenticated by the trustee
under such indenture, and (ii) interest coupons attached to any such bond, note,
debenture or other evidence of indebtedness may be executed on behalf of the
Corporation by the facsimile signature of the Treasurer of the Corporation.
ARTICLE IX.
FISCAL YEAR.
<PAGE> 19
Exhibit 1-B
Page 18 of 21
The fiscal year of the Corporation shall begin on the first day of January
in each year.
ARTICLE X.
AMENDMENT OF BY LAWS.
These By-Laws may be amended, added to, rescinded or repealed at any
meeting of the Board of Directors or of the stockholders, provided notice of the
proposed change was given in the notice of the meeting or, in the case of a
meeting of the Board of Directors, in a notice given not less than two days
prior to the meeting; provided, however, that, notwithstanding any other
provisions of these By-Laws or any provision of law which might otherwise permit
a lesser vote or no vote, but in addition to any affirmative vote of the holders
of any particular class or series of the Voting Stock required by law, the
Certificate of Incorporation, any class or series of Preferred Stock or these
By-Laws, the affirmative vote of at least 80 percent of the total number of
authorized directors (whether or not there exist any vacancies in previously
authorized directorships at the time any such alteration, amendment or repeal is
presented to the Board for adoption), shall be required to alter, amend or
repeal Article IV (c), IV (g), V (a), V (b), V (c), and V (g) of these By-Laws
or this proviso to this Article X of these By-Laws.
ARTICLE XI.
NATIONAL EMERGENCY.
(a) Definition and Application. For the purposes of this Article XI the
term "national emergency" is defined as an emergency situation resulting from an
attack upon the United
<PAGE> 20
Exhibit 1-B
Page 19 of 21
States, a nuclear disaster within the United States, a catastrophe, or other
emergency condition, as a result of which attack, disaster, catastrophe or
emergency condition a quorum of the Board of Directors cannot readily be
convened for action. Persons not directors of the Corporation may conclusively
rely upon a determination by the Board of Directors of the Corporation, at a
meeting held or purporting to be held pursuant to this Article XII that a
national emergency as hereinabove defined exists regardless of the correctness
of such determination made or purporting to be made as hereinafter provided.
During the existence of a national emergency the provisions of this Article XII
shall become operative, but, to the extent not inconsistent with such
provisions, the other provisions of these By-Laws shall remain in effect during
any national emergency and upon its termination the provisions of this Article
XII shall cease to be operative.
(b) Meetings, etc. When it is determined in good faith by any director
that a national emergency exists, special meetings of the Board of Directors may
be called by such director. The director calling any such special meeting shall
make a reasonable effort to notify all other directors of the time and place of
such special meeting, and such effort shall be deemed to constitute the giving
of notice of such special meeting, and every director shall be deemed to have
waived any requirement, of law or otherwise, that any other notice of such
special meeting be given. At any such special meeting two directors shall
constitute a quorum for the transaction of business including, without limiting
the generality hereof, the filling of vacancies among directors and officers of
the Corporation and the election of additional Vice Presidents, Assistant
Secretaries and Assistant Treasurers. The act of a majority of the directors
present thereat shall be the act of the Board of Directors. If at any such
special meeting of the Board of Directors there shall be only one director
present, such director present may adjourn the meeting from time to time until a
quorum is obtained, and no further notice thereof need be given of any such
adjournment.
<PAGE> 21
Exhibit 1-B
Page 20 of 21
The directors present at any such special meeting shall make reasonable
effort to report any action taken thereat to all absent directors, but failure
to give such report shall not affect the validity of the action taken at any
such meeting. All directors, officers, employees and agents of, and all persons
dealing with, the Corporation, if acting in good faith, may conclusively rely
upon any action taken at any such special meeting.
(c) Amendment. The Board of Directors shall have the power to alter,
amend, or repeal any of these By-Laws by the affirmative vote of at least
two-thirds (2/3) of the directors present at any special meeting attended by two
(2) or more directors and held in the manner prescribed in (b) of this Article,
if it is determined in good faith by said two-thirds (2/3) that such alteration,
amendment or repeal would be conducive to the proper direction of the
Corporation's affairs.
(d) Chief Executive Officer. If, during the existence of a national
emergency, the Chief Executive Officer of the Corporation becomes incapacitated,
cannot by reasonable effort be located, or otherwise is unable or unavailable to
perform the duties of his office, an Executive Vice President of the
Corporation, if there be one, is hereby designated as Chief Executive Officer.
The Executive Vice President senior in office, if there be more than one, shall
so serve. If an Executive Vice President is unable or unavailable to perform the
duties of the Chief Executive Officer of the Corporation, the senior available
Vice President shall be designated as Chief Executive Officer, such seniority to
be determined by the date on which such Vice President was first elected or
appointed to such office. If none of the foregoing officers is able or available
to perform the duties of the Chief Executive Officer, the next senior available
officer of the Corporation is hereby designated as Chief Executive Officer, such
seniority to be determined by the date on which he was first elected or
appointed to serve.
<PAGE> 22
Exhibit 1-B
Page 21 of 21
(e) Substitute Directors. To the extent required to constitute a quorum at
any meeting of the Board of Directors during a national emergency, the officers
of the Corporation who are present shall be deemed, in order of rank of office
and within the same rank in order of election or appointment to such office,
directors for such meeting.
I, Carolyn McKinney Afshar, Secretary of COLUMBIA ENERGY GROUP, hereby
certify that the foregoing constitutes a true and correct copy of the By-Laws of
said Corporation, effective November 18,1987; and amended and restated as of
January 16, 1998, to reflect the change in the Corporation's name.
IN WITNESS WHEREOF, I have hereunto set my hand
and the seal of said Corporation, this day of
--------------------------------
Secretary
<PAGE> 1
Exhibit 2-B
Page 1 of 13
BYLAWS
OF
ENERGY.COM CORPORATION
ARTICLE I
Stockholders
Section 1.1. Annual Meetings. An annual meeting of stockholders shall
be held for the election of directors at such date, time and place, either
within or without the State of Delaware, as may be designated by resolution of
the Board of Directors from time to time. Any other proper business may be
transacted at the annual meeting.
Section 1.2. Special Meetings. Special meetings of stockholders for
any purpose or purposes may be called at any time by the Board of Directors, or
by a committee of the Board of Directors that has been duly designated by the
Board of Directors and whose powers and authority, as expressly provided in a
resolution of the Board of Directors, include the power to call such meetings,
but such special meetings may not be called by any other person or persons.
Section 1.3. Notice of Meetings. Whenever stockholders are required or
permitted to take any action at a meeting, a written notice of the meeting shall
be given that shall state the place, date and hour of the meeting and, in the
case of a special meeting, the purpose or purposes for which the meeting is
called. Unless otherwise provided by law, the certificate of incorporation or
these bylaws, the written notice of any meeting shall be given not less than ten
(10) nor more than sixty (60) days before the date of the meeting to each
stockholder entitled to vote at such meeting. If mailed, such notice shall be
deemed to be given when deposited in the United States mail, postage prepaid,
directed to the stockholder at his address as it appears on the records of the
corporation.
Section 1.4. Adjournments. Any meeting of stockholders, annual or
special, may adjourn from time to time to reconvene at the same or some other
place, and notice need not be given of any such adjourned meeting if the time
and place thereof are announced at the meeting at which the adjournment is
taken. At the adjourned meeting the corporation may transact any business which
might have been
<PAGE> 2
Exhibit 2-B
Page 2 of 13
transacted at the original meeting. If the adjournment is for more than thirty
(30) days, or if after the adjournment a new record date is fixed for the
adjourned meeting, notice of the adjourned meeting shall be given to each
stockholder of record entitled to vote at the meeting.
Section 1.5. Quorum. Except as otherwise provided by law, the
certificate of incorporation or these bylaws, at each meeting of stockholders
the presence in person or by proxy of the holders of a majority in voting power
of the outstanding shares of stock entitled to vote at the meeting shall be
necessary and sufficient to constitute a quorum. In the absence of a quorum, the
stockholders so present may, by majority vote, adjourn the meeting from time to
time in the manner provided in Section 1.4 of these bylaws until a quorum shall
attend. Shares of its own stock belonging to the corporation or to another
corporation, if a majority of the shares entitled to vote in the election of
directors of such other corporation is held, directly or indirectly, by the
corporation, shall neither be entitled to vote nor be counted for quorum
purposes; provided, however, that the foregoing shall not limit the right of the
corporation or any subsidiary of the corporation to vote stock, including but
not limited to its own stock, held by it in a fiduciary capacity.
Section 1.6. Organization. Meetings of stockholders shall be presided
over by the Chairman of the Board, if any, or in his absence by the Vice
Chairman of the Board, if any, or in his absence by the Chief Executive Officer,
or in his absence by a Vice President, or in the absence of the foregoing
persons by a chairman designated by the Board of Directors, or in the absence of
such designation by a chairman chosen at the meeting. The Secretary shall act as
secretary of the meeting, but in his absence the person presiding over the
meeting may appoint any person to act as secretary of the meeting. The person
presiding over the meeting shall announce at the meeting of stockholders the
date and time of the opening and the closing of the polls for each matter upon
which the stockholders will vote.
Section 1.7. Voting; Proxies. Except as otherwise provided by the
certificate of incorporation, each stockholder entitled to vote at any meeting
of stockholders shall be entitled to one (1) vote for each share of stock held
by him which has voting power upon the matter in question. Each stockholder
entitled to vote at a meeting of stockholders or to express consent or dissent
to corporate action in writing without a meeting may authorize another person or
persons to act for him by proxy, but no such proxy shall be voted or acted upon
after three (3) years from its date, unless the proxy provides for a longer
period. A proxy shall be irrevocable if it states that it is irrevocable and if,
and only as long as, it is coupled with
<PAGE> 3
Exhibit 2-B
Page 3 of 13
an interest sufficient in law to support an irrevocable power. A stockholder
may revoke any proxy which is not irrevocable by attending the meeting and
voting in person or by filing with the Secretary of the corporation an
instrument in writing revoking the proxy or by delivering a proxy in accordance
with applicable law bearing a later date to the Secretary of the corporation.
Voting at meetings of stockholders need not be by written ballot. At all
meetings of stockholders for the election of directors a plurality of the votes
cast shall be sufficient to elect. All other elections and questions shall,
unless otherwise provided by law, the certificate of incorporation or these
bylaws, be decided by the affirmative vote of the holders of a majority in
voting power of the shares of stock which are present in person or by proxy and
entitled to vote thereon.
Section 1.8. Fixing Date for Determination of Stockholders of Record.
In order that the corporation may determine the stockholders entitled to notice
of or to vote at any meeting of stockholders or any adjournment thereof, or to
express consent to corporate action in writing without a meeting, or entitled to
receive payment of any dividend or other distribution or allotment of any
rights, or entitled to exercise any rights in respect of any change, conversion
or exchange of stock or for the purpose of any other lawful action, the Board of
Directors may fix a record date, which record date shall not precede the date
upon which the resolution fixing the record date is adopted by the Board of
Directors, and which record date: (i) in the case of determination of
stockholders entitled to vote at any meeting of stockholders or adjournment
thereof, shall, unless otherwise required by law, not be more than sixty (60)
nor less than ten (10) days before the date of such meeting; (ii) in the case of
determination of stockholders entitled to express consent to corporate action in
writing without a meeting, shall not be more than ten (10) days from the date
upon which the resolution fixing the record date is adopted by the Board of
Directors; and (iii) in the case of determination of stockholders for the
purpose of any other lawful action, shall not be more than sixty (60) days prior
to such other action. If no record date is fixed: (iv) the record date for
determining stockholders entitled to notice of or to vote at a meeting of
stockholders shall be at the close of business on the day next preceding the day
on which notice is given, or, if notice is waived, at the close of business on
the day next preceding the day on which the meeting is held; (v) the record date
for determining stockholders entitled to express consent to corporate action in
writing without a meeting, when no prior action of the Board of Directors is
required by law, shall be the first date on which a signed written consent
setting forth the action taken or proposed to be taken is delivered to the
corporation in accordance with applicable law, or, if prior action by the Board
of Directors is required by law, shall
<PAGE> 4
Exhibit 2-B
Page 4 of 13
be at the close of business on the day on which the Board of Directors adopts
the resolution taking such prior action; and (vi) the record date for
determining stockholders for the purpose of any other lawful action, shall be
at the close of business on the day on which the Board of Directors adopts the
resolution relating thereto. A determination of stockholders of record entitled
to notice of or to vote at a meeting of stockholders shall apply to any
adjournment of the meeting; provided, however, that the Board of Directors may
fix a new record date for the adjourned meeting.
Section 1.9. List of Stockholders Entitled to Vote. The Secretary
shall prepare and make, at least ten (10) days before every meeting of
stockholders, a complete list of the stockholders entitled to vote at the
meeting, arranged in alphabetical order, and showing the address of each
stockholder and the number of shares registered in the name of each stockholder.
Such list shall be open to the examination of any stockholder, for any purpose
germane to the meeting, during ordinary business hours, for a period of at least
ten (10) days prior to the meeting, either at a place within the city where the
meeting is to be held, which place shall be specified in the notice of the
meeting, or, if not so specified, at the place where the meeting is to be held.
The list shall also be produced and kept at the time and place of the meeting
during the whole time thereof and may be inspected by any stockholder who is
present. Upon the willful neglect or refusal of the directors to produce such a
list at any meeting for the election of directors, they shall be ineligible for
election to any office at such meeting. Except as otherwise provided by law, the
stock ledger shall be the only evidence as to who are the stockholders entitled
(i) to examine the stock ledger, the list of stockholders entitled to vote at
the meeting or the books of the corporation, (ii) to vote in person or by proxy
at any meeting of stockholders, or (iii) to express consent or dissent to
corporate action in writing without a meeting.
Section 1.10. Action By Consent of Stockholders. Unless otherwise
restricted by the certificate of incorporation, any action required or permitted
to be taken at any annual or special meeting of the stockholders may be taken
without a meeting, without prior notice and without a vote, if a consent or
consents in writing, setting forth the action so taken, shall be signed by the
holders of outstanding stock having not less than the minimum number of votes
that would be necessary to authorize or take such action at a meeting at which
all shares entitled to vote thereon were present and voted and shall be
delivered (by hand or by certified or registered mail, return receipt requested)
to the corporation by delivery to its registered office in the State of
Delaware, its principal place of business, or an officer or agent of the
corporation having custody of the book in which minutes of proceedings of
<PAGE> 5
Exhibit 2-B
Page 5 of 13
meetings of stockholders are recorded. Prompt notice of the taking of the
corporate action without a meeting by less than unanimous written consent shall
be given to those stockholders who have not consented in writing.
Section 1.11. Inspectors of Election. The corporation may, and shall
if required by law, in advance of any meeting of stockholders, appoint one (1)
or more inspectors of election, who may be employees of the corporation, to act
at the meeting or any adjournment thereof and to make a written report thereof.
The corporation may designate one (1) or more persons as alternate inspectors to
replace any inspector who fails to act. In the event that no inspector so
appointed or designated is able to act at a meeting of the stockholders, the
person presiding at the meeting shall appoint one (1) or more inspectors to act
at the meeting. Each inspector, before entering upon the discharge of his or her
duties, shall take and sign an oath to execute faithfully the duties of
inspector with strict impartiality and according to the best of his or her
ability. The inspector or inspectors so appointed or designated shall (i)
ascertain the number of shares of capital stock of the corporation outstanding
and the voting power of each such share, (ii) determine the shares of capital
stock of the corporation represented at the meeting and the validity of proxies
and ballots, (iii) count all votes and ballots, (iv) determine and retain for a
reasonable period a record of the disposition of any challenges made to any
determination by the inspectors, and (v) certify their determination of the
number of shares of capital stock of the corporation represented at the meeting
and such inspector's or inspectors' count of all votes and ballots. Such
certification and report shall specify such other information as may be required
by law. In determining validity and counting of proxies and ballots cast at any
meeting of stockholders of the corporation, the inspectors may consider such
information as is permitted by applicable law. No person who is a candidate for
an office at an election may serve as an inspector at such election.
Section 1.12. Conduct of Meetings. The Board of Directors of the
corporation may adopt by resolution such rules and regulations for the conduct
of the meeting of stockholders as it shall deem appropriate. Except to the
extent inconsistent with such rules and regulations as adopted by the Board of
Directors, the person presiding over any meeting of stockholders shall have the
right and authority to prescribe such rules, regulations and procedures and to
do all such acts as, in the judgment of such person, are appropriate for the
proper conduct of the meeting. Such rules, regulations or procedures, whether
adopted by the Board of Directors or prescribed by the person presiding over the
meeting, may include, without limitation, the following: (i) the establishment
of an
<PAGE> 6
Exhibit 2-B
Page 6 of 13
agenda or order of business for the meeting; (ii) rules and procedures for
maintaining order at the meeting and the safety of those present; (iii)
limitations on attendance at or participation in the meeting to stockholders of
record of the corporation, their duly authorized and constituted proxies or such
other persons as the person presiding over the meeting shall determine; (iv)
restrictions on entry to the meeting after the time fixed for the commencement
thereof; and (v) limitations on the time allotted to questions or comments by
participants. Unless and to the extent determined by the Board of Directors or
the person presiding over the meeting, meetings of stockholders shall not be
required to be held in accordance with the rules of parliamentary procedure.
ARTICLE II
Board of Directors
Section 2.1. Number; Qualifications. The Board of Directors shall
consist of one (1) or more members. The number of members comprising the Board
of Directors initially shall be the number of persons named as directors in the
certificate of incorporation (or if no person is so named, the number of persons
elected by the Incorporator). The number of members comprising the Board of
Directors thereafter shall be determined from time to time by resolution of the
Board of Directors. Directors need not be stockholders.
Section 2.2. Election; Resignation; Removal; Vacancies. The Board of
Directors initially shall consist of the person or persons named as Directors in
the certificate of incorporation (or, if no person is so named, the person or
persons elected by the Incorporator), and each director so elected shall hold
office until his successor is elected and qualified or until his earlier death,
resignation, or removal. At the first annual meeting of stockholders and at each
annual meeting thereafter, the stockholders shall elect directors each of whom
shall hold office until his successor is elected and qualified or until his
earlier death, resignation, or removal. Any director may resign at any time upon
written notice to the corporation. Any newly created directorship or any vacancy
occurring in the Board of Directors for any cause may be filled by a majority of
the remaining members of the Board of Directors, although such majority is less
than a quorum, or by a plurality of the votes cast at a meeting of stockholders,
and each director so elected shall hold office until the expiration of the term
of office of the director whom he has replaced, or until his successor is
elected and qualified, or until his earlier death, resignation, or removal.
<PAGE> 7
Exhibit 2-B
Page 7 of 13
Section 2.3. Regular Meetings. Regular meetings of the Board of
Directors may be held at such places within or without the State of Delaware and
at such times as the Board of Directors may from time to time determine, and if
so determined notices thereof need not be given.
Section 2.4. Special Meetings. Special meetings of the Board of
Directors may be held at any time or place within or without the State of
Delaware whenever called by the Chief Executive Officer, President, any Vice
President, the Secretary, or by any member of the Board of Directors. Notice of
a special meeting of the Board of Directors shall be given by the person or
persons calling the meeting at least twenty-four (24) hours before the special
meeting.
Section 2.5. Telephonic Meetings Permitted. Members of the Board of
Directors, or any committee designated by the Board of Directors, may
participate in a meeting thereof by means of conference telephone or similar
communications equipment by means of which all persons participating in the
meeting can hear each other, and participation in a meeting pursuant to this
bylaw shall constitute presence in person at such meeting.
Section 2.6. Quorum; Vote Required for Action. At all meetings of the
Board of Directors a majority of the whole Board of Directors shall constitute a
quorum for the transaction of business. Except in cases in which the certificate
of incorporation, these bylaws or applicable law otherwise provides, the vote of
a majority of the directors present at a meeting at which a quorum is present
shall be the act of the Board of Directors.
Section 2.7. Organization. Meetings of the Board of Directors shall be
presided over by the Chairman of the Board, if any, or in his absence by the
Vice Chairman of the Board, if any, or in his absence by the Chief Executive
Officer, or in the absence of the foregoing persons by a chairman chosen at the
meeting. The Secretary shall act as secretary of the meeting, but in his absence
the person presiding over the meeting may appoint any person to act as secretary
of the meeting.
Section 2.8. Informal Action by Directors. Unless otherwise restricted
by the certificate of incorporation or these bylaws, any action required or
permitted to be taken at any meeting of the Board of Directors, or of any
committee thereof, may be taken without a meeting if all members of the Board of
Directors or such committee, as the case may be, consent thereto in writing, and
the writing or writings are filed with the minutes of proceedings of the Board
of Directors or committee.
<PAGE> 8
Exhibit 2-B
Page 8 of 13
ARTICLE III
Committees
Section 3.1. Committees. The Board of Directors may, by resolution
passed by a majority of the whole Board of Directors, designate one (1) or more
committees, each committee to consist of one (1) or more of the directors of the
corporation. The Board of Directors may designate one (1) or more directors as
alternate members of any committee, who may replace any absent or disqualified
member at any meeting of the committee. In the absence or disqualification of a
member of the committee, the member or members thereof present at any meeting
and not disqualified from voting, whether or not he or they constitute a quorum,
may unanimously appoint another member of the Board of Directors to act at the
meeting in place of any such absent or disqualified member. Any such committee,
to the extent permitted by law and to the extent provided in the resolution of
the Board of Directors, shall have and may exercise all the powers and authority
of the Board of Directors in the management of the business and affairs of the
corporation, and may authorize the seal of the corporation to be affixed to all
papers which may require it.
Section 3.2. Committee Rules. Unless the Board of Directors otherwise
provides, each committee designated by the Board of Directors may make, alter
and repeal rules for the conduct of its business. In the absence of such rules
each committee shall conduct its business in the same manner as the Board of
Directors conducts its business pursuant to Article II of these bylaws.
ARTICLE IV
Officers
Section 4.1. Executive Officers; Election; Qualifications; Term of
Office; Resignation; Removal; Vacancies. The Board of Directors shall elect a
Chief Executive Officer, a President and a Secretary, and it may, if it so
determines, choose a Chairman of the Board and a Vice Chairman of the Board from
among its members. The Board of Directors may also choose one (1) or more Vice
Presidents, one (1) or more Assistant Secretaries, a Treasurer and one (1) or
more Assistant Treasurers. Each such officer shall hold office until the first
meeting of the Board of Directors after the annual meeting of stockholders next
succeeding his election, and until his successor is elected and qualified or
until his earlier death, resignation, or removal. Any officer may resign at any
time upon written notice to the corporation. The Board of Directors may remove
any officer with or without cause at any time, but
<PAGE> 9
Exhibit 2-B
Page 9 of 13
such removal shall be without prejudice to the contractual rights of such
officer, if any, with the corporation. Any number of offices may be held by the
same person. Any vacancy occurring in any office of the corporation by death,
resignation, removal, or otherwise may be filled for the unexpired portion of
the term by the Board of Directors at any regular or special meeting.
Section 4.2. Powers and Duties of Executive Officers.
(i) Chief Executive Officer. Subject to the provisions of the
certificate of incorporation, these bylaws, and the direction of the Board of
Directors, the Chief Executive Officer shall have the responsibility for the
general management and control of the business and affairs of the corporation
and shall perform all duties and have all powers which are commonly incident to
the office of chief executive or which are delegated to him or her by the Board
of Directors. The Chief Executive Officer shall have power to execute in the
name of the corporation all contracts, agreements, deeds, bonds, mortgages, and
other obligations and instruments of the corporation which are authorized, and
to affix the corporate seal thereto. The Chief Executive Officer shall have
general supervision and direction of all of the other officers, employees, and
agents of the corporation.
(ii) President. The President shall have such powers and perform such
duties as the Board of Directors may from time to time prescribe.
(iii) Vice President. Each Vice President, if any, shall have such
powers and perform such duties as the Board of Directors may from time to time
prescribe. The Vice President (if only one (1) Vice President is chosen by the
Board) or one (1) Vice President designated by the Board (if two (2) or more
Vice Presidents are chosen by the Board of Directors) shall perform the duties
and exercise the powers of the President in the event of the President's absence
or disability.
(iv) Treasurer. The Treasurer, if any, shall have the responsibility
for maintaining the financial records of the corporation. The Treasurer shall
make such disbursements of the funds of the corporation as are authorized and
shall render from time to time an account of all such transactions and of the
financial condition of the corporation. The Treasurer shall have such other
powers and perform such other duties as the Board of Directors may from time to
time prescribe.
(v) Secretary. The Secretary shall issue all
<PAGE> 10
Exhibit 2-B
Page 10 of 13
authorized notices for, and shall keep minutes of, all meetings of the
stockholders and of the Board of Directors. The Secretary shall have charge of
the corporate books and seal, shall have the power to affix the corporate seal
to documents duly executed by any officer, and to attest to such affixation and
execution, and shall have such other powers and perform such other duties as
the Board of Directors may from time to time prescribe.
(vi) Assistant Secretary and Assistant Treasurer. Each Assistant
Secretary, if any, and each Assistant Treasurer, if any, shall have such powers
and perform such duties as the Board of Directors may from time to time
prescribe.
(vii) Delegation of Authority. The Board of Directors may from time
to time delegate the powers or duties of any officer to any other officers or
agents, notwithstanding any provision hereof.
ARTICLE V
Stock
Section 5.1. Certificates. Every holder of stock shall be entitled to
have a certificate signed by or in the name of the corporation by the Chairman
or Vice Chairman of the Board of Directors, if any, or the Chief Executive
Officer, the President or a Vice President, and by the Treasurer or an Assistant
Treasurer, or the Secretary or an Assistant Secretary, of the corporation
certifying the number of shares owned by him in the corporation. Any of or all
the signatures on the certificate may be a facsimile. In case any officer,
transfer agent, or registrar who has signed or whose facsimile signature has
been placed upon a certificate shall have ceased to be such officer, transfer
agent, or registrar before such certificate is issued, it may be issued by the
corporation with the same effect as if he were such officer, transfer agent, or
registrar at the date of issue.
Section 5.2. Lost, Stolen or Destroyed Stock Certificates; Issuance of
New Certificates. The corporation may issue a new certificate of stock in the
place of any certificate theretofore issued by it, alleged to have been lost,
stolen or destroyed, and the corporation may require the owner of the lost,
stolen or destroyed certificate, or his legal representative, to give the
corporation a bond sufficient to indemnify it against any claim that may be made
against it on account of the alleged loss, theft or destruction of any such
certificate or the issuance of such new certificate.
<PAGE> 11
Exhibit 2-B
Page 11 of 13
ARTICLE VI
Indemnification
Section 6.1. Right to Indemnification. The corporation shall indemnify
and hold harmless, to the fullest extent permitted by applicable law as it
presently exists or may hereafter be amended, any person who was or is made or
is threatened to be made a party or is otherwise involved in any threatened,
pending, or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative (a "proceeding") by reason of the fact that he,
or a person for whom he is the legal representative, is or was a director or
officer of the corporation or is or was serving at the request of the
corporation as a director, officer, employee or agent of another corporation or
of a partnership, joint venture, trust, other enterprise or non-profit entity,
including service with respect to employee benefit plans (an "indemnitee"),
against all liability and loss suffered and expenses (including attorneys' fees)
reasonably incurred by such indemnitee. The corporation shall be required to
indemnify an indemnitee in connection with a proceeding (or part thereof)
initiated by such indemnitee only if the initiation of such proceeding (or part
thereof) by the indemnitee was authorized by the Board of Directors of the
corporation.
Section 6.2. Advancement of Expenses. The corporation shall pay the
expenses (including attorneys' fees) incurred by an indemnitee in defending any
proceeding referred to in Section 6.1 in advance of its final disposition;
provided, however, that the payment of expenses incurred by an indemnitee in
advance of the final disposition of such proceeding shall be made only upon
receipt of an undertaking by the indemnitee to repay all amounts advanced if it
should ultimately be determined that the indemnitee is not entitled to be
indemnified under this Article or otherwise.
Section 6.3. Claims. If a claim for indemnification or advancement of
expenses under this Article is not paid in full within sixty (60) days after a
written claim therefor by the indemnitee has been received by the corporation,
the indemnitee may file suit to recover the unpaid amount of such claim and, if
successful in whole or in part, shall be entitled to be paid the expense of
prosecuting such claim. In any such action the corporation shall have the burden
of proving that the indemnitee was not entitled to the requested indemnification
or advancement of expenses.
<PAGE> 12
Exhibit 2-B
Page 12 of 13
Section 6.4. Non-Exclusivity of Rights. The rights conferred on any
person by this Article shall not be exclusive of any other rights which such
person may have or hereafter acquire under any statute, provision of the
certificate of incorporation, these bylaws, agreement, vote of stockholders or
disinterested directors or otherwise.
Section 6.5. Other Indemnification. The corporation's obligation, if
any, to indemnify any person who was or is serving at its request as a director,
officer, employee or agent of another corporation, partnership, joint venture,
trust, enterprise or non-profit entity shall be reduced by any amount such
person may collect as indemnification from such other corporation, partnership,
joint venture, trust, enterprise or non-profit entity.
Section 6.6. Amendment or Repeal. Any repeal or modification of the
foregoing provisions of this Article shall not adversely affect any right or
protection hereunder of any person in respect of any act or omission occurring
prior to the time of such repeal or modification.
ARTICLE VII
Miscellaneous
Section 7.1. Fiscal Year. The fiscal year of the corporation shall
be determined by resolution of the Board of Directors.
Section 7.2. Seal. The corporate seal shall be in such form as may
be approved from time to time by the Board of Directors.
Section 7.3. Waiver of Notice of Meetings of Stockholders, Directors
and Committees. Any written waiver of notice, signed by the person entitled to
notice, whether before or after the time stated therein, shall be deemed
equivalent to notice. Attendance of a person at a meeting shall constitute a
waiver of notice of such meeting, except when the person attends a meeting for
the express purpose of objecting, at the beginning of the meeting, to the
transaction of any business because the meeting is not lawfully called or
convened. Neither the business to be transacted at, nor the purpose of any
regular or special meeting of the stockholders, directors, or members of a
committee of directors need be specified in any written waiver of notice.
Section 7.4. Interested Directors; Quorum. No contract or transaction
between the corporation and one (1) or more of its directors or officers, or
between the corporation and any other corporation, partnership,
<PAGE> 13
Exhibit 2-B
Page 13 of 13
association, or other organization in which one (1) or more of its directors or
officers are directors or officers, or have a financial interest, shall be void
or voidable solely for this reason, or solely because the director or officer
is present at or participates in the meeting of the Board of Directors or
committee thereof which authorizes the contract or transaction, or solely
because his or their votes are counted for such purpose, if: (i) the material
facts as to his relationship or interest and as to the contract or transaction
are disclosed or are known to the Board of Directors or the committee, and the
Board of Directors or committee in good faith authorizes the contract or
transaction by the affirmative votes of a majority of the disinterested
directors, even though the disinterested directors be less than a quorum; or
(ii) the material facts as to his relationship or interest and as to the
contract or transaction are disclosed or are known to the stockholders entitled
to vote thereon, and the contract or transaction is specifically approved in
good faith by vote of the stockholders; or (iii) the contract or transaction is
fair as to the corporation as of the time it is authorized, approved or
ratified, by the Board of Directors, a committee thereof, or the stockholders.
Common or interested directors may be counted in determining the presence of a
quorum at a meeting of the Board of Directors or of a committee which
authorizes the contract or transaction.
Section 7.5. Form of Records. Any records maintained by the
corporation in the regular course of its business, including its stock ledger,
books of account, and minute books, may be kept on, or be in the form of, punch
cards, magnetic tape, photographs, microphotographs, or any other information
storage device, provided that the records so kept can be converted into clearly
legible form within a reasonable time.
Section 7.6. Amendment of Bylaws. These bylaws may be altered or
repealed, and new bylaws made, by the Board of Directors to the extent permitted
by the certificate of incorporation, but the stockholders may make additional
bylaws and may alter and repeal any bylaws whether adopted by them or otherwise.
Date of Adoption: January 5, 1998
<PAGE> 1
Exhibit 3-B
Page 1 of 13
CODE OF REGULATIONS
OF
COLUMBIA ASSURANCE AGENCY, INC.
ARTICLE I
MEETING OF SHAREHOLDERS
Section 1.01 - Annual Meetings.
(a) An annual meeting of shareholders, for the election of directors,
for the consideration of any reports, and for the transaction of
such other business as may be brought before the meeting, shall be
held on the first Monday of June or on such other date as may be
designated by the Board of Directors.
(b) If the annual meeting is not held or if directors are not elected at
the meeting, the directors may be elected at any special meeting
called and held for that purpose.
Section 1.02 - Special Meetings.
(a) A special meeting of shareholders may be called (i) by the
President; or (ii) by any other officer or assistant officer then
authorized pursuant to this Code of Regulations or otherwise by
the Board of Directors to call such meetings; or (iii) by a
majority of the members of the Board of Directors acting with or
without a meeting; or (iv) by any persons holding twenty-five
percent (25%) or more of the shares then outstanding and entitled
to vote at a meeting of shareholders.
(b) Upon the request in writing being delivered to the President or to
the Secretary by any person or persons entitled to call a meeting of
shareholders, the person to whom the request is delivered shall give
notice to shareholders of the meeting. If the request is refused,
the person or persons making the request may call a meeting of
shareholders by giving notice in the manner hereinafter provided in
Section 1.04.
Section 1.03 - Place of Meetings.
(a) The annual and all other meetings of the shareholders shall be held
at such places as may from time to time be designated by the Board
of Directors.
<PAGE> 2
Exhibit 3-B
Page 2 of 13
(b) If another place has not been designated by the Board of Directors,
all meetings shall be held at the principal office of the
Corporation.
Section 1.04 - Notice of Meetings.
(a) Each shareholder shall furnish the Secretary with an address to
which notices of meetings and other notices or correspondence may be
addressed.
(b) Written notices of the time and place of any meeting of shareholders
shall be given to each shareholder of record entitled to vote at
such meeting by the President or by the Secretary or, in the event
of their failure to do so, by the person or persons entitled to call
such meeting.
(c) Except as otherwise required by the laws of the State of Ohio,
notice of any meeting of shareholders shall be given not more than
sixty (60) days nor less than seven (7) days before the day upon
which the meeting is to be held, by serving the notice personally
upon each shareholder or by mailing the same to the address of each
shareholder as last shown upon the records of the Corporation.
(d) Except as otherwise required by the laws of the State of Ohio, no
publication of any notice of any meeting of shareholders shall be
required.
(e) In the event of any transfer of shares after notice has been given,
but prior to the day upon which the meeting is to be held, it shall
not be necessary to give any additional notice to the transferee.
(f) In addition to stating the time and the place of the meeting, every
notice of a special meeting of shareholders shall state briefly the
purpose specified by the person or persons calling such meeting. Any
business other than that stated in the notice shall be taken up at
such meeting only with the unanimous written consent of the holders
of all the shares entitled to vote at such meeting.
Section 1.05 - Waiver of Notice of Meeting.
(a) Any shareholder may, either before or after any meeting, waive any
notice required to be given by law or under this Code of
Regulations. Notice of any meeting of shareholders shall not be
required to be given to any shareholder who attends such meeting
either in person or by proxy.
(b) Any waiver of notice must be in writing and filed with or entered
upon the records of the Corporation.
<PAGE> 3
Exhibit 3-B
Page 3 of 13
Section 1.06 - Quorum.
(a) Those shareholders present in person or by proxy, entitled to
exercise a majority of the voting power shall constitute a quorum
for any meeting of shareholders.
(b) In the event of an absence of a quorum at any meeting or at any
adjournment thereof, a majority of those present in person or by
proxy and entitled to vote may adjourn such meeting from time to
time. At any adjourned meeting at which a quorum may be present, any
business may be transacted which might have been transacted at the
meeting as originally called.
Section 1.07 - Action Without Meeting.
Any action which may be authorized or taken at a meeting of
shareholders, may be taken without a meeting if authorized by a
writing signed by all shareholders who would be entitled to notice
of a meeting called for such purpose.
Section 1.08 - Organization.
Upon the request of any shareholder at any annual meeting of
shareholders, the order of business shall be, unless changed by
affirmative vote of a majority of the shareholders present in person
or by proxy, as follows:
(i) Roll call, to establish a quorum.
(ii) Appointment of inspectors of election if requested.
(iii) Acceptance of minutes of previous meeting.
(iv) Presentation of annual financial report.
(v) Presentation of reports of directors and committees.
(vi) Presentation of officers' reports.
(vii) Election of Board of Directors.
(viii) Consideration of unfinished business.
(ix) Consideration of new business.
Section 1.09 - Voting.
(a) Each shareholder of any class of the Corporation entitled to vote on
any matter shall be entitled in person or by proxy to one vote on
each matter for each share registered in the shareholder's name on
the books of the Corporation.
<PAGE> 4
Exhibit 3-B
Page 4 of 13
(b) Persons holding voting shares in a fiduciary capacity shall be
entitled to vote the shares so held. Persons voting pledged shares
shall be entitled to vote such shares unless the pledgee shall have
been expressly empowered by the shareholder to vote such shares in
which case only the pledgee or his proxy may vote such share.
Section 1.10 - Proxies.
(a) At any meeting of shareholders, any person who is entitled to
attend, or to vote thereat, and to execute consents, waivers or
releases, may be represented at such meeting or vote thereat, and
execute consents, waivers, and releases, and exercise any of his
other rights, by proxy or proxies appointed by writing signed by
such person.
(b) Voting by proxy or proxies shall be governed by all of the
provisions of the laws of the State of Ohio, including the
provisions relating to the sufficiency of the writing, the
duration of the validity of the proxy or proxies, and the power
of substitution and revocation.
ARTICLE II
BOARD OF DIRECTORS
Section 2.01 - General Powers.
The powers of the Corporation shall be exercised, its business and
affairs conducted, and its property managed under the direction of
the Board of Directors, except as otherwise provided by the laws of
the State of Ohio, by the Articles of Incorporation, or by this Code
of Regulations.
Section 2.02 - Bylaws.
The Board of Directors may adopt bylaws to govern its own
proceedings and its transactions of business, as well as the
administration of the Corporation, the conduct of the Corporation's
business and other affairs, management of the Corporation's
property, and any other matters properly within the authority or
discretion of the Board of Directors so long as consistent with the
laws of the State of Ohio, the Articles of Incorporation, and the
Code of Regulations.
Section 2.03 - Number.
(a) The Board of Directors shall consist of five (5) directors.
<PAGE> 5
Exhibit 3-B
Page 5 of 13
(b) Without amendment of this Code of Regulations, the number of
directors may be fixed or changed by resolution adopted by the
shareholders at any meeting.
(c) No reduction of the number of directors shall have the effect of
removing any director prior to the expiration of his or her term of
office.
Section 2.04 - Classification and Term.
(a) Unless the Board of Directors is divided into classes as provided in
this Code of Regulations, the term of office of each director shall
be until adjournment of the next succeeding annual meeting of
shareholders, or an action in lieu thereof, at which directors are
elected or until a successor is elected as director.
(b) Without amendment of this Code of Regulations, the Board of
Directors may be divided, by resolution of the shareholders, into
two (2) or three (3) classes with each class to consist of three
(3) or such larger number of directors as the shareholders shall
from time to time determine. Each class shall be designated
consecutively as Class I, Class II, and Class III, if any. All
classes shall be initially elected at the annual meeting of
shareholders coinciding with or next following adoption of the
resolution classifying the Board of Directors, and the initial
term of office of each class shall be as follows: Class I shall
be until the first such succeeding annual meeting; Class II shall
be until the second such succeeding annual meeting; and Class
III, if any, shall be until the third such succeeding annual
meeting. Thereafter, the term of office of each class shall be
until the second, or, if three (3) classes, the third annual
meeting at which directors are elected after the initial term of
that class. Each director of each class shall hold office until a
successor is elected as director.
Section 2.05 - Notice of Meeting.
(a) Written notice of the time and place of each meeting of the Board of
Directors shall be given to each director either by personal
delivery, or by mail, telegram, facsimile, or cable at least two (2)
days before each meeting.
(b) Any director may waive notice of the time and place of any meeting
of the Board of Directors, either before or after the holding of the
meeting.
Section 2.06 - Place of and Quorum and Manner of Acting at Meetings.
(a) Unless another place is designated by the Board of Directors, the
place of all meetings shall be the principal office of the
Corporation; provided,
<PAGE> 6
Exhibit 3-B
Page 6 of 13
however, that any meeting may be held by telephone or through other
communications equipment if all directors participating can hear
each other.
(b) Except as otherwise provided in this Code of Regulations, a
majority of the number of directors shall be present in person at
any meeting of the Board of Directors in order to constitute a
quorum for the transaction of business at such meeting; provided
that if the meeting is held by telephone or through other
communications equipment at which all directors participating can
hear each other, such participation shall constitute attendance
at such meeting.
(c) Except as otherwise provided in this Code of Regulations, the act of
the majority of the directors present at any meeting of the Board of
Directors at which a quorum is present shall be the act of the Board
of Directors.
(d) In the absence of a quorum at any meeting of the Board of Directors,
a majority of those present may adjourn the meeting from time to
time until a quorum shall be present and notice of any adjourned
meeting need not be given.
Section 2.07 - Resignations.
(a) Any director of the corporation may resign at any time by giving
written notice to the President or Secretary of the Corporation.
(b) A resignation shall take effect at the time specified therein, and,
unless otherwise specified therein, shall become effective upon
delivery. The acceptance of any resignation shall not be necessary
to make it effective unless so specified in the resignation.
Section 2.08 - Removal of Directors.
(a) Any director may be removed, with or without cause, at any time by
the affirmative vote of a majority of the outstanding shares then
held of record by the shareholders of the Corporation entitled to
vote at a special meeting of the shareholders called for that
purpose.
(b) Any vacancy in the Board of Directors caused by any removal may be
filled by the shareholders at the same meeting.
Section 2.09 - Vacancies.
Shareholders entitled to elect directors shall have a right to fill
any vacancy in the Board of Directors at any special meeting of
shareholders
<PAGE> 7
Exhibit 3-B
Page 7 of 13
called for that purpose or at any annual meeting. Any director so
elected by the shareholders to fill a vacancy shall serve for the
remaining term of the vacant office and until a successor is
elected and qualified.
ARTICLE III
EXECUTIVE AND OTHER COMMITTEES
Section 3.01 - Creation.
(a) The Board of Directors may create an Executive Committee or any
other committee of directors consisting of not less than two (2)
directors, and may delegate to each such committee any of the
authority of the Board of Directors other than the filling of
vacancies on the Board of Directors or in any committee of
directors.
(b) Each such committee shall serve at the pleasure of the Directors,
shall act only in the intervals between meetings of the Directors,
and shall be subject to the control and direction of the Directors.
Section 3.02 - Alternate and Ex Officio Members.
(a) The Board of Directors may appoint one or more Directors as
alternate members of any committee, which alternate member or
members may take the place of any absent member or members at any
meeting of such committee.
(b) The Board of Directors may appoint any one or more persons
(including persons who are not directors) as ex officio members
of any committee, which ex officio member or members shall be
entitled to be present in person, to present matters for
consideration and to take part in consideration of any business
by the committee at any meeting of the committee, but which ex
officio member or members shall not be counted for purposes of a
quorum nor for purposes of voting or otherwise in any way for
purposes of authorizing any act or other transaction of business
by such committee.
Section 3.03 - Authority and Manner of Acting.
(a) Unless otherwise provided in this Code of Regulations or in the
Bylaws or unless otherwise ordered by the Board of Directors, any
such committee may act by majority of its members (excluding ex
officio members) at a meeting or by a writing or writings signed by
all of its members (excluding ex officio members).
<PAGE> 8
Exhibit 3-B
Page 8 of 13
(b) Any act or authorization of an act or transaction of business by any
such committee within the authority delegated to it shall be as
effective for all purposes as the act or authorization of the Board
of Directors.
ARTICLE IV
OFFICERS
Section 4.01 - Officers.
(a) The officers shall be a President, a Treasurer and a Secretary and
such Vice Presidents and other officers or assistant officers as the
Board of Directors may from time to time deem necessary and appoint.
In addition, the Board of Directors may elect a Chairman from among
themselves. More than one office may be held by the same person, but
only a director may serve as Chairman.
Section 4.02 - Appointment and Term of Office.
The officers of the Corporation shall be appointed from time to time
by the Board of Directors as it shall determine, and new offices may
be created and filled at any meeting of the Board of Directors. Each
officer shall hold office until his successor shall have been
appointed.
Section 4.03 - Resignation.
(a) Any officer or assistant officer may resign at any time by giving
written notice to the Board of Directors or the Chairman, if any, or
to the President or Secretary of the Corporation.
(b) A resignation shall take effect at the time specified therein, and,
unless otherwise specified therein, shall become effective upon
delivery. The acceptance of such resignation shall not be necessary
to make it effective unless so specified in the resignation.
Section 4.04 - Removal.
Any officer or assistant officer may be removed by the Board of
Directors with or without cause whenever in its judgment the best
interests of the corporation would be served thereby.
Section 4.05 - Duties of Officers.
(a) The Chairman, if any, shall preside at all meetings of shareholders
and all meetings of the Board of Directors.
<PAGE> 9
Exhibit 3-B
Page 9 of 13
(b) The President shall be the chief executive officer of the
Corporation, and shall, in the absence of a Chairman, preside at all
meetings of shareholders and, unless another person is designated by
the Board of Directors, all meetings of the Board of Directors.
(c) Each of the following officers -- the Chairman, if any, the
President, any Vice President, the Secretary, and the
Controller-Treasurer -- jointly or any one of them individually,
shall have the authority to sign, execute and deliver in the name
of the Corporation any deed, mortgage, bond, instrument,
agreement, or other document evidencing any transaction
authorized by the Board of Directors, except where the signing or
execution thereof shall have been expressly delegated to another
officer or person on the Corporation's behalf.
(d) In the absence of any officer or assistant officer or for any other
reason which the Board of Directors may deem sufficient, the Board
of Directors may delegate the authorities and duties of any officer,
or any assistant officer to any other officer, assistant officer, or
to any director.
(e) In addition to the foregoing, each officer or assistant officer
shall perform all duties as may from time to time be delegated to
each of them by this Code of Regulations or by the Board of
Directors or any committee of directors as provided herein.
ARTICLE V
TRANSFER OF SHARES
Section 5.01 - Certificate for Shares.
(a) Every owner of any share of any class of the Corporation shall be
entitled to a certificate which shall be in such form as the Board
of Directors shall prescribe, certifying the number of shares in the
Corporation owned by him.
(b) The certificates for the respective classes of shares shall be
numbered in the order in which they shall be issued and shall be
signed in the name of the Corporation by the Chairman of the Board
or the President and by the Secretary or the Treasurer.
(c) A record shall be kept by the Secretary of the name of each person
owning the shares represented by each certificate, the number of
shares represented thereby, the date thereof and, in case of
cancellation, the date of cancellation.
<PAGE> 10
Exhibit 3-B
Page 10 of 13
(d) Every certificate surrendered to the Corporation for exchange or
transfer shall be canceled and no new certificate or certificates
shall be issued in exchange for any existing certificate until the
existing certificate shall have been so canceled, except in the
cases provided for in Section 5.03.
Section 5.02 - Transfers.
(a) Transfer of shares in the Corporation shall be made only on the
books of the Corporation by the registered holder, an executor or
administrator or other legal representative of the registered
holder, or by an attorney authorized by a power of attorney duly
executed and filed with the Secretary of the Corporation or with a
transfer agent appointed by the Board of Directors.
(b) The person in whose name shares stand on the books of the
Corporation shall, to the full extent permitted by the laws of the
State of Ohio, be deemed the owner thereof for all purposes.
Section 5.03 - Lost, Stolen, or Destroyed Certificates.
(a) The holder of any shares in the Corporation shall immediately notify
the Secretary of any lost, stolen or destroyed certificate, and the
Corporation may issue a new certificate in the place of any
certificate alleged to have been lost, stolen, or destroyed.
(b) The Board of Directors may, at its discretion, require the owner of
a lost, stolen, or destroyed certificate or his legal representative
to give the Corporation a bond on such terms and with such sureties
as it may direct, to indemnify the Corporation against any claim
that may be made against it on account of the alleged lost, stolen,
or destroyed certificate.
(c) The Board of Directors may, however, at its discretion, refuse to
issue any such new certificate except pursuant to legal proceedings
in accordance with Section 1701.24 or other applicable sections of
the Ohio Revised Code.
Section 5.04 - Record Date.
(a) The Board of Directors may, by resolution, fix in advance a date,
not exceeding sixty (60) days preceding the date of any meeting
of shareholders or the date for the payment of any dividend, or
the date for the allotment of rights, or the date when any change
or conversion or exchange of shares shall go into effect, as a
record date for the determination of the shareholders entitled to
notice of, and to vote at, any such meeting, or entitled to
receive payment of any such dividend or to
<PAGE> 11
Exhibit 3-B
Page 11 of 13
any such allotment or rights, or to exercise the rights in respect
to any such change, conversion, or exchange.
(b) Only such shareholders of record on the date so fixed shall be
entitled to receive notice of, and to vote at such meeting, or to
receive payment of such dividend, or to receive such allotment or
rights, or to exercise such rights, as the case may be,
notwithstanding any transfer of any share on the books of the
Corporation after such record date.
ARTICLE VI
INDEMNIFICATION AND INSURANCE
Section 6.01 - Indemnification.
(a) Directors and Officers. To the fullest extent not prohibited by
applicable law, the Corporation shall indemnify each person
against any and all costs and expenses (including attorney fees,
judgments, fines, penalties, amounts paid in settlement, and
other disbursements) actually and reasonably incurred by or
imposed upon such person in connection with any action, suit,
investigation, or proceeding (or any claim or other matter
therein), whether civil, criminal, administrative, or otherwise
in nature, including any settlements thereof or any appeals
therein, with respect to which such person is named or otherwise
becomes or is threatened to be made a party by reason of being or
at any time having been a director or officer of the Corporation,
or by reason of being or at any time having been, while such a
director or officer, an employee or other agent of the
Corporation or, at the direction or request of the Corporation, a
director, trustee, officer, administrator, manager, employee,
member, advisor, or other agent of or fiduciary for any other
corporation, partnership, trust, venture, or other entity or
enterprise including any employee benefit plan.
(b) Employees and agents. The Corporation shall indemnify any other
person to the extent such person shall be entitled to
indemnification under the laws of the State of Ohio by reason of
being successful on the merits or otherwise in defense of an
action to which such person is named a party by reason of being
an employee or other agent of the Corporation, and the
Corporation may further indemnify any such person if it is
determined on a case by case basis by the Board of Directors that
indemnification in the specific case is warranted.
(c) General. Notwithstanding anything to the contrary in this Code of
Regulations, no person shall be indemnified to the extent, if any,
it is determined by the Board of Directors or by written opinion of
legal counsel
<PAGE> 12
Exhibit 3-B
Page 12 of 13
designated by the Board of Directors for such purpose
that indemnification is contrary to applicable law.
Section 6.02 - Insurance.
The Corporation may, as the Board of Directors may direct, purchase
and maintain such insurance on behalf of any person who is or at any
time has been a director, officer, employee, or other agent of or in
a similar capacity with the Corporation, or who is or at any time
has been, at the direction or request of the Corporation, a
director, trustee, officer, administrator, manager, employee,
member, advisor, or other agent of or fiduciary for any other
corporation, partnership, trust, venture, or other entity or
enterprise including any employee benefit plan against any liability
asserted against and incurred by such person.
ARTICLE VII
MISCELLANEOUS
Section 7.01 - Corporate Seal.
The corporate seal shall have inscribed thereon the name of the
corporation, and the words "Corporate Seal 1997 Ohio". The seal may
be used by causing it or a facsimile thereof to be impressed or
affixed or reproduced or otherwise.
Section 7.02 - Checks
All checks, drafts, notes, bills of exchange and orders for the
payment of money (including orders for repetitive or non-repetitive
electronic funds transfers) shall, unless otherwise directed by the
Board of Directors, or unless required by law, be signed by any two
of the following officers: the President, any Vice President, the
Secretary or any Assistant Secretary; provided that in every case at
least one such officer shall be the President, a Vice President or
the Secretary. The Board of Directors may, however, notwithstanding
the foregoing provision, by resolution adopted at any meeting,
authorize any of said officers or any employee of the Corporation so
designated by the Board of Directors of the Corporation to sign,
checks, drafts, and such orders for the payment of money singly and
without necessity of countersignature, and may designate officers of
the Corporation other than those named above or any employee of the
Corporation so designated by the Board of Directors of the
Corporation, or different combinations of such officers or any
employee of the Corporation so designated by the Board of Directors
of the Corporation, who may, in the name of the Corporation, execute
checks, drafts, and such orders for
<PAGE> 13
Exhibit 3-B
Page 13 of 13
the payment of money on its behalf. Further, the President is
authorized to designate to the Corporation's banks, in writing,
individuals employed in the Columbia Gas System Service Corporation
Cash Management Department, who need not be officers or employees
of the Corporation to give in the name of the Corporation
telephonic, telegraphic, or electronic transfer instructions for
the payment of money, which may, with respect to routine items,
include instructions as to the amount to be transferred, to any
bank, pursuant to previously issued written orders, signed by
officers of the Corporation or by any employee of the Corporation
so designated by the Board of Directors of the Corporation in any
manner provided above, which designate the recipients of such
amounts and which identify what shall be treated as routine items.
Section 7.03 - Amendment.
This Code of Regulations may be amended in whole or part by the
affirmative vote at a meeting or by the written consent without a
meeting of the holders of record of shares entitling them to
exercise a majority of the voting power of the Corporation.
Section 7.04 - Close Corporation Agreement.
Any provision of this Code of Regulations which at any time
conflicts with the provision of any agreement which is a close
corporation agreement, within the meaning of section 1701.01(X),
Ohio Revised Code, that is in effect with respect to this
Corporation at such time shall be deemed superseded by that
provision of the close corporation agreement, and in the event of
any such conflict, this Code of Regulations and the close
corporation agreement shall be construed to give effect to the
provisions of the close corporation agreement to the extent not
inconsistent with section 1701.591, Ohio Revised Code.
<PAGE> 1
Exhibit 4-B
Page 1 of 31
COLUMBIA PIPELINE CORPORATION
*****
BYLAWS
*****
ARTICLE I
OFFICES
Section 1. The registered office shall be in the City of Wilmington,
County of New Castle, State of Delaware.
Section 2. The Corporation may also have offices at such other places both
within and without the State of Delaware as the Board of Directors may from time
to time determine or the business of the Corporation may require.
ARTICLE II
MEETINGS OF STOCKHOLDERS
Section 1. All meetings of the stockholders for the election of directors
shall be held in the County of New Castle, State of Delaware, at such place as
may be fixed from time to time by the Board of Directors, or at such other place
either within or without the State of Delaware as shall be designated from time
to time by the Board of Directors and stated in the notice of the meeting.
Meetings of stockholders for any other purpose may be held at such time and
place,
<PAGE> 2
Exhibit 4-B
Page 2 of 31
within or without the State of Delaware, as shall be stated in the notice
of the meeting or in a duly executed waiver of notice thereof.
Section 2. Annual meetings of stockholders shall be held on the first
Monday of June if not a legal holiday, and if a legal holiday, then on the next
secular day following, at 10:00 A.M., or at such other date and time as shall be
designated from time to time by the Board of Directors and stated in the notice
of the meeting, at which they shall elect by a plurality vote a Board of
Directors, and transact such other business as may properly be brought before
the meeting.
Section 3. Written notice of the annual meeting stating the place, date
and hour of the meeting shall be given to each stockholder entitled to vote at
such meeting not less than ten nor more than sixty days before the date of the
meeting.
Section 4. The officer who has charge of the stock ledger of the
Corporation shall prepare and make, at least ten days before every meeting of
stockholders, a complete list of the stockholders entitled to vote at the
meeting, arranged in alphabetical order, and showing the address of each
stockholder and the number of shares registered in the name of each stockholder.
Such list shall be open to the examination of any stockholder, for any purpose
germane to the meeting, during ordinary business hours, for a period of at least
ten days prior to the meeting, either at a place within the city where the
meeting is to be held, which place shall be specified in
<PAGE> 3
Exhibit 4-B
Page 3 of 31
the notice of the meeting, or, if not so specified, at the place where the
meeting is to be held. The list shall also be produced and kept at the time and
place of the meeting during the whole time thereof, and may be inspected by any
stockholder who is present.
Section 5. Special meetings of the stockholders, for any purpose or
purposes, unless otherwise prescribed by statute or by the Certificate of
Incorporation, may be called by the president and shall be called by the
president or secretary at the request in writing of a majority of the Board of
Directors, or at the request in writing of stockholders owning a majority in
amount of the entire capital stock of the Corporation issued and outstanding and
entitled to vote. Such request shall state the purpose or purposes of the
proposed meeting.
Section 6. Written notice of a special meeting stating the place, date,
and hour of the meeting and the purpose or purposes for which the meeting is
called, shall be given not less than ten nor more than sixty days before the
date of the meeting, to each stockholder entitled to vote at such meeting.
Section 7. Business transacted at any special meeting of the stockholders
shall be limited to the purposes stated in the notice.
Section 8. The holders of a majority of the stock issued and outstanding
and entitled to vote thereat, present in person or represented by proxy, shall
constitute a quorum at all
<PAGE> 4
Exhibit 4-B
Page 4 of 31
meetings of the stockholders for the transaction of business except as
otherwise provided by statute or by the Certificate of Incorporation. If,
however, such quorum shall not be present or represented at any meeting of the
stockholders, the stockholders entitled to vote thereat, present in person or
represented by proxy, shall have power to adjourn the meeting from time to
time, without notice other than announcement at the meeting, until a quorum
shall be present or represented. At such adjourned meeting, at which a quorum
shall be present or represented, any business may be transacted which might
have been transacted at the meeting as originally notified. If the adjournment
is for more than thirty days, or if after the adjournment a new record date is
fixed for the adjourned meeting, a notice of the adjourned meeting shall be
given to each stockholder of record entitled to vote at the meeting.
Section 9. When a quorum is present at any meeting, the vote of the
holders of a majority of the stock having voting power present in person or
represented by proxy shall decide any question brought before such meeting,
unless the question is one upon which by express provision of statute or of the
Certificate of Incorporation, a different vote is required in which case such
express provision shall govern and control the decision of such question.
Section 10. Unless otherwise provided in the Certificate of Incorporation,
each stockholder shall at every meeting of the stockholders be entitled to one
vote in person or by proxy for each share of the capital stock having voting
power held by such stockholder, but no
<PAGE> 5
Exhibit 4-B
Page 5 of 31
proxy shall be voted on after eleven months from its date, unless the proxy
provides for a longer period.
Section 11. Unless otherwise provided in the Certificate of Incorporation,
any action required to be taken at any annual or special meeting of stockholders
of the Corporation, or any action which may be taken at any annual or special
meeting of such stockholders, may be taken without a meeting, without prior
notice and without a vote, if a consent in writing, setting forth the action so
taken, shall be signed by the holders of outstanding stock having not less than
the minimum number of votes that would be necessary to authorize or take such
actions at a meeting at which all shares entitled to vote thereon were present
and voted. Prompt notice of the taking of the corporate action without a meeting
by less than unanimous written consent shall be given to those stockholders who
have not consented in writing.
ARTICLE III
DIRECTORS
Section 1. The number of directors shall be determined by resolution of
the Board of Directors or by the stockholders at the annual meeting. The
directors shall be elected at the annual meeting of the stockholders, except as
provided in Section 2 of this Article, and each director elected shall hold
office until his successor is elected and qualified. Directors need not be
stockholders.
<PAGE> 6
Exhibit 4-B
Page 6 of 31
Section 2. Vacancies and newly created directorships resulting from any
increase in the authorized number of directors may be filled by a majority of
the directors then in office, though less than a quorum, or by a sole remaining
director, and the directors so chosen shall hold office until the next annual
election or until their successors are duly elected and shall quality, unless
sooner displaced. If there are no directors in office, then an election of
directors may be held in the manner provided by statute.
Section 3. The business of the Corporation shall be managed by its Board
of Directors which may exercise all such powers of the Corporation and do all
such lawful acts and things as are not by statute or by the Certificate of
Incorporation or by these Bylaws directed or required to be exercised or done by
the stockholders.
MEETINGS OF THE BOARD OF DIRECTORS
Section 4. The Board of Directors of the Corporation may hold
meetings, both regular and special, either within or without the State of
Delaware.
Section 5. The first meeting of each newly elected Board of Directors
shall be held at such time and place as shall be fixed by the vote of the
stockholders at the annual meeting and no notice of such meeting shall be
necessary to the newly elected directors in order legally to constitute the
meeting, provided a quorum shall be present. In the event of the failure of the
stockholders to fix the time or place of such first meeting of the newly elected
Board of
<PAGE> 7
Exhibit 4-B
Page 7 of 31
Directors, or in the event such meeting is not held at the time and place so
fixed by the stockholders, the meeting may be held at such time and place as
shall be specified in a notice given as hereinafter provided for special
meetings of the Board of Directors, or as shall be specified in a written
waiver signed by all of the Directors.
Section 6. Regular meetings of the Board of Directors may be held without
notice at such time and at such place as shall from time to time be determined
by the Board.
Section 7. Special meetings of the Board may be called by the president,
the secretary, or any assistant secretary on six hours' notice to each director,
either personally or by mail or by telegram; special meetings shall be called by
the president, the secretary, or an assistant secretary in like manner and on
like notice on the written request of two directors.
Section 8. At all meetings of the Board, a majority of the directors shall
constitute a quorum for the transaction of business, and the act of a majority
of the directors present at any meeting at which there is a quorum shall be the
act of the Board of Directors, except as may be otherwise specifically provided
by statute or by the Certificate of Incorporation. If a quorum shall not be
present at any meeting of the Board of Directors, the directors present thereat
may adjourn the meeting from time to time, without notice other than
announcement at the meeting, until a quorum shall be present.
<PAGE> 8
Exhibit 4-B
Page 8 of 31
Section 9. Unless otherwise restricted by the Certificate of Incorporation
or these Bylaws, any action required or permitted to be taken at any meeting of
the Board of Directors or of any committee thereof may be taken without a
meeting, if all members of the Board or committee, as the case may be, consent
thereto in writing, and the writing or writings are filed with the minutes of
proceedings of the Board or committee.
Section 10. Unless otherwise restricted by the Certificate of
Incorporation or these Bylaws, members of the Board of Directors, or any
committee designated by the Board of Directors, may participate in a meeting of
the Board of Directors, or any committee, by means of conference telephone or
similar communications equipment by means of which all persons participating in
the meeting can hear each other, and such participation in a meeting shall
constitute presence in person at the meeting.
COMMITTEES OF DIRECTORS
Section 11. The Board of Directors may, by resolution passed by a majority
of the whole Board, designate one or more committees, each committee to consist
of one or more of the directors of the Corporation. The Board may designate one
or more directors as alternate members of any committee, who may replace any
absent or disqualified member at any meeting of the committee. In the absence or
disqualification of a member of a committee, the member or
<PAGE> 9
Exhibit 4-B
Page 9 of 31
members thereof present at any meeting and not disqualified from voting,
whether or not he or they constitute a quorum, may unanimously appoint another
member of the Board of Directors to act at the meeting in the place of any such
absent or disqualified member. Any such committee, to the extent provided in
the resolution of the Board of Directors, shall have and may exercise all the
powers and authority of the Board of Directors in the management of the
business and affairs of the Corporation, and may authorize the seal of the
Corporation to be affixed to all papers which may require it; but no such
committee shall have the power or authority in reference to amending the
Certificate of Incorporation, adopting an agreement of merger or consolidation,
recommending to the stockholders the sale, lease, or exchange of all or
substantially all of the Corporation's property and assets, recommending to the
stockholders a dissolution of the Corporation or a revocation of a dissolution,
or amending the Bylaws of the Corporation, declare a dividend, to authorize the
issuance of stock, or fill vacancies on the Board of Directors or any
committee. Such committee or committees shall have such name or names as may be
determined from time to time by resolution adopted by the Board of Directors.
Section 12. Each committee shall keep regular minutes of its meetings and
report the same to the Board of Directors.
COMPENSATION OF DIRECTORS
Section 13. Unless otherwise restricted by the Certificate of
Incorporation or these Bylaws, the Board of Directors shall have the authority
to fix the compensation of directors. The
<PAGE> 10
Exhibit 4-B
Page 10 of 31
directors may be paid their expenses, if any, of attendance at each meeting of
the Board of Directors and may be paid a fixed sum for attendance at each
meeting of the Board of Directors or a stated salary as director. No such
payment shall preclude any director from serving the Corporation in any other
capacity and receiving compensation therefor. Members of special or standing
committees may be allowed like compensation for attending committee meetings.
ARTICLE IV
NOTICES
Section 1. Whenever, under the provisions of applicable statute or of the
Certificate of Incorporation or of these Bylaws, notice is required to be given
to any director or stockholder, it shall not be construed to mean personal
notice, but such notice may be given in writing, by mail, addressed to such
director or stockholder, at his address as it appears on the records of the
Corporation, with postage thereon prepaid, and such notice shall be deemed to be
given at the time when the same shall be deposited in the United States mail.
Notice to directors may also be given by telegram, data facsimile, or other
similar method of transmitting a written communication.
Section 2. Whenever any notice is required to be given under the
provisions of applicable statute or of the Certificate of Incorporation or of
these Bylaws, a waiver thereof in
<PAGE> 11
Exhibit 4-B
Page 11 of 31
writing, signed by the person or persons entitled to said notice, whether
before or after the time stated therein, shall be deemed equivalent thereto.
ARTICLE V
OFFICERS
Section 1. The officers of the Corporation shall be chosen by the Board of
Directors and shall be a president and a secretary. The Board of Directors may
also choose vice-presidents, a treasurer, a controller, and one or more
assistant secretaries and assistant treasurers, and assistant controllers and
such other officers as it deems necessary from time to time. Any number of
offices may be held by the same person, unless the Certificate of Incorporation
or these Bylaws otherwise provide.
Section 2. The Board of Directors at its first meeting after each annual
meeting of stockholders shall choose a president and a secretary.
Section 3. The Board of Directors may appoint such other officers and
agents as it shall deem necessary who shall hold their offices for such terms
and shall exercise such powers and perform such duties as shall be determined
from time to time by the Board.
Section 4. The salaries of all officers and agents of the Corporation
shall be fixed by the Board of Directors.
<PAGE> 12
Exhibit 4-B
Page 12 of 31
Section 5. The officers of the Corporation shall hold office until their
successors are chosen and qualify. Any officer elected or appointed by the Board
of Directors may be removed at any time by the affirmative vote of a majority of
the Board of Directors. Any vacancy occurring in any office of the Corporation
shall be filled by the Board of Directors.
THE PRESIDENT AND VICE PRESIDENTS
Section 6. The president shall be the chief executive officer of the
Corporation, shall preside at all meetings of the stockholders and the Board of
Directors, shall have general and active management of the business of the
Corporation and shall see that all orders and resolutions of the Board of
Directors are carried into effect.
Section 7. The president shall execute bonds, mortgages and other
contracts requiring a seal, under the seal of the Corporation, except where
required or permitted by law to be otherwise signed and executed and except
where the signing and execution thereof shall be expressly delegated by the
Board of Directors to some other officer or agent of the Corporation.
Section 8. The vice president, or if there be more than one, the vice
presidents in the order determined by the Board of Directors (or if there be no
such determination, then in the order of their election), shall perform such
duties and exercise such powers as the Board of Directors may from time to time
prescribe.
<PAGE> 13
Exhibit 4-B
Page 13 of 31
THE SECRETARY AND ASSISTANT SECRETARIES
Section 9. The secretary shall attend all meetings of the Board of
Directors and all meetings of the stockholders and record all the proceedings of
the meetings of the Corporation and of the Board of Directors in a book to be
kept for that purpose and shall perform like duties for the standing committees
when required. He shall give, or cause to be given, notice of all meetings of
the stockholders and special meetings of the Board of Directors, and shall
perform such other duties as may be prescribed by the Board of Directors or
president, under whose supervision he shall be. He shall have custody of the
corporate seal of the Corporation and he, or an assistant secretary, shall have
authority to affix the same to any instrument requiring it and when so affixed,
it may be attested by his signature or by the signature of such assistant
secretary. The Board of Directors may give general authority to any other
officer to affix the seal of the Corporation and to attest the affixing by his
signature.
Section 10. An assistant secretary, or if there be more than one, the
assistant secretaries in the order determined by the Board of Directors (or if
there be no such determination, then in the order of their election), shall, in
the absence of the secretary or in the event of his inability or refusal to act,
perform the duties and exercise the powers of the secretary
<PAGE> 14
Exhibit 4-B
Page 14 of 31
and shall perform such other duties and have such other powers as the Board of
Directors may from time to time prescribe.
THE TREASURER AND ASSISTANT TREASURERS
Section 11. The treasurer or, as directed by the Board of Directors,
one or more assistant treasurers shall have the custody of the corporate funds
and securities and shall keep full and accurate accounts of receipts and
disbursements in books belonging to the Corporation and shall deposit all moneys
and other valuable effects in the name and to the credit of the Corporation in
such depositories as may be designated by the Board of Directors.
Section 12. The treasurer or, as directed by the Board of Directors, one
or more assistant treasurers shall disburse the funds of the Corporation as may
be ordered by the Board of Directors, taking proper vouchers for such
disbursements, and shall render to the president and the Board of Directors, at
its regular meetings, or when the Board of Directors so requires, an account of
all his/their transactions as treasurer/ assistant treasurer.
Section 13. If required by the Board of Directors, the treasurer or an
assistant treasurer shall give the Corporation a bond (which shall be renewed
every six years) in such sum and with such surety or sureties as shall be
satisfactory to the Board of Directors for the faithful performance of the
duties of their offices and for the restoration to the Corporation, in case of
their death, resignation, retirement or removal from office, of all books,
papers, vouchers, money
<PAGE> 15
Exhibit 4-B
Page 15 of 31
and other property of whatever kind in their possession or under their control
belonging to the Corporation.
Section 14. The assistant treasurer, or if there shall be more than one,
the assistant treasurers in the order determined by the Board of Directors (or
if there be no such determination, then in the order of their election), shall,
in the absence of the treasurer or in the event of his inability or refusal to
act, perform the duties and exercise the powers of the treasurer and shall
perform such other duties and have such other powers as the Board of Directors
may from time to time prescribe.
THE CONTROLLER AND ASSISTANT CONTROLLER
Section 15. The controller, or as directed by the Board of Directors,
one or more assistant controllers, shall maintain adequate records of all
assets, liabilities, and transactions of the Corporation, ensure that the
financial results of operations are properly recorded and that adequate audits
thereof are currently and regularly made; and, in conjunction with other
officers, initiate and enforce measures and procedures whereby the business of
the Corporation shall be conducted with the maximum safety, efficiency, and
economy. The controller or an assistant controller shall report to the president
and/or the Board of Directors at its regular meetings on the financial results
of the Corporation's operations. The controller shall have such other duties as
the Board of Directors may designate from time to time.
<PAGE> 16
Exhibit 4-B
Page 16 of 31
ARTICLE VI
CERTIFICATES OF STOCK
Section 1. Every holder of stock in the Corporation shall be entitled to
have a certificate, signed by, or in the name of the Corporation, by the
president or the vice president, or the secretary or an assistant secretary of
the Corporation, certifying the number of shares owned by him in the
Corporation.
Section 2. Any of or all the signatures on the certificate may be
facsimile. In case any officer, transfer agent or registrar who has signed or
whose facsimile signature has been placed upon a certificate shall have ceased
to be such officer, transfer agent or registrar before such certificate is
issued, it may be issued by the Corporation with the same effect as if he were
such officer, transfer agent or registrar at the date of issue.
LOST CERTIFICATES
Section 3. The Board of Directors may direct a new certificate or
certificates to be issued in place of any certificate or certificates
theretofore issued by the Corporation alleged to have been lost, stolen or
destroyed, upon the making of an affidavit of that fact by the person claiming
the certificate of stock to be lost, stolen or destroyed. When authorizing such
issue of a new certificate or certificates, the Board of Directors may, in its
discretion and as a condition precedent to the issuance thereof, require the
owner of such lost, stolen or destroyed certificate or
<PAGE> 17
Exhibit 4-B
Page 17 of 31
certificates, or his legal representative, to advertise the same in such manner
as it shall require and/or to give the Corporation a bond in such sum as it may
direct as indemnity against any claim that may be made against the Corporation
with respect to the certificate alleged to have been lost, stolen or destroyed.
TRANSFERS OF STOCK
Section 4. Upon surrender to the Corporation or the transfer agent of the
Corporation of a certificate for shares duly endorsed or accompanied by proper
evidence of succession, assignment or authority to transfer, it shall be the
duty of the Corporation to issue a new certificate to the person entitled
thereto, cancel the old certificate and record the transaction upon its books.
FIXING RECORD DATE
Section 5. In order that the Corporation may determine the stockholders
entitled to notice of or to vote at any meeting of stockholders or any
adjournment thereof, or to express consent to corporate action in writing
without a meeting, or entitled to receive payment of any dividend or other
distribution or allotment of any rights, or entitled to exercise any rights in
respect of any change, conversion or exchange of stock or for the purpose of any
other lawful action, the Board of Directors may fix, in advance, a record date,
which shall not be more than sixty nor less than ten days before the date of
such meeting, nor more than sixty days prior to any
<PAGE> 18
Exhibit 4-B
Page 18 of 31
other action. A determination of stockholders of record entitled to notice of or
to vote at a meeting of stockholders shall apply to any adjournment of the
meeting; provided, however, that the Board of Directors may fix a new record
date for the adjourned meeting.
REGISTERED STOCKHOLDERS
Section 6. The Corporation shall be entitled to recognize the exclusive
right of a person registered on its books as the owner of shares to receive
dividends, and to vote as such owner, and to hold liable for calls and
assessments a person registered on its books as the owner of shares, and shall
not be bound to recognize any equitable or other claim to or interest in such
share or shares on the part of any other person, whether or not it shall have
express or other notice thereof, except as otherwise provided by the laws of
Delaware.
<PAGE> 19
Exhibit 4-B
Page 19 of 31
ARTICLE VII
GENERAL PROVISIONS
DIVIDENDS
Section 1. Dividends upon the capital stock of the Corporation, subject to
the provisions of the Certificate of Incorporation, if any, may be declared by
the Board of Directors at any regular or special meeting, pursuant to law.
Dividends may be paid in cash, in property, or in shares of the capital stock,
subject to the provisions of the Certificate of Incorporation.
Section 2. Before payment of any dividend, there may be set aside out of
any funds of the Corporation available for dividends such sum or sums as the
directors from time to time, in their absolute discretion, think proper as a
reserve or reserves to meet contingencies, or for equalizing dividends, or for
repairing or maintaining any property of the Corporation, or for such other
purpose as the directors shall think conducive to the interest of the
Corporation, and the directors may modify or abolish any such reserve in the
manner in which it was created.
CHECKS
Section 3. All checks, drafts, notes, bills of exchange, and orders for
the payment of money (including orders for repetitive or non-repetitive
electronic funds transfers) shall, unless otherwise directed by the Board of
Directors, or unless required by law, be signed by any two of the following
officers: the President, any Vice President, the Secretary, any Assistant
Secretary,
<PAGE> 20
Exhibit 4-B
Page 20 of 31
the Treasurer, or any Assistant Treasurer; provided that in every case at least
one such officer shall be the President, a Vice President Treasurer or the
Secretary. The Board of Directors may, however, notwithstanding the foregoing
provision, by resolution adopted at any meeting, authorize any of said officers
or any employee of the Corporation so designated by the Board of Directors of
the Corporation to sign, checks, drafts, and such orders for the payment of
money singly and without necessity of countersignature, and may designate
officers of the Corporation other than those named above or any employee of the
Corporation so designated by the Board of Directors of the Corporation, or
different combinations of such officers or any employee of the Corporation so
designated by the Board of Directors of the Corporation, who may, in the name of
the Corporation, execute checks, drafts, and such orders for the payment of
money on its behalf. Further, the President is authorized to designate to the
Corporation's banks, in writing, individuals employed in the Columbia Energy
Group Service Corporation Cash Management Department, who need not be officers
or employees of the Corporation to give in the name of the Corporation
telephonic, telegraphic, or electronic transfer instructions for the payment of
money, which may, with respect to routine items, include instructions as to the
amount to be transferred, to any bank, pursuant to previously issued written
orders, signed by officers of the Corporation or by any employee of the
Corporation so designated by the Board of Directors of the Corporation in any
manner provided above, which designate the recipients of such amounts and which
identify what shall be treated as routine items.
FISCAL YEAR
<PAGE> 21
Exhibit 4-B
Page 21 of 31
Section 4. The fiscal year of the Corporation begins on the first day of
January and ends on the thirty-first day of December in each year.
SEAL
Section 5. The corporate seal shall have inscribed thereon the name of the
Corporation, the year of its organization and the words "Corporate Seal,
Delaware." The seal may be used by causing it or a facsimile thereof to be
impressed or affixed or reproduced or otherwise.
ARTICLE VIII
INDEMNIFICATION
(a) Right to Indemnification. The Corporation shall to the fullest extent
permitted by applicable law as then in effect indemnify any person (the
"Indemnitee") who was or is involved in any manner (including, without
limitation, as a party or a witness) or is threatened to be made so involved in
any threatened, pending or completed investigation, claim, action, suit or
proceeding, whether civil, criminal, administrative, or investigative (including
without limitation, any action, suit, or proceeding by or in the right of the
Corporation to procure a judgment in its favor) (a "Proceeding") by reason of
the fact that such person is or was a director, officer, employee, or agent of
the Corporation, or is or was serving at the request of the Corporation as a
director, officer, employee, or agent of another Corporation, partnership, joint
venture, trust, or
<PAGE> 22
Exhibit 4-B
Page 22 of 31
other enterprise (including, without limitation, any employee benefit plan)
against all expenses (including attorneys' fees), judgments, fines, and amounts
paid in settlement actually and reasonably incurred by such person in connection
with such Proceeding. Such indemnification shall be a contract right and shall
include the right to receive payment of any expenses incurred by the Indemnitee
in connection with such Proceeding in advance of its final disposition,
consistent with the provisions of applicable law as then in effect.
(b) Insurance, Contracts, and Funding. The Corporation may purchase and
maintain insurance to protect itself and any indemnitee against any expenses,
judgments, fines, and amounts paid in settlement as specified in Section (a) of
this Article VIII or incurred by an Indemnitee in connection with any proceeding
referred to in Section (a) of this Article VIII, to the fullest extent permitted
by applicable law as then in effect. The Corporation may enter into contracts
with any director, officer, employee, or agent of the Corporation or use other
means in furtherance of the provisions of this Article VIII to ensure the
payment of such amounts as may be necessary to effect indemnification as
provided in this Article VIII.
(c) Indemnification; Not Exclusive Right. The right of indemnification
provided in this Article VIII shall not be exclusive of any other rights to
which those seeking indemnification may otherwise be entitled, and the
provisions of this Article VIII shall inure to the benefit of the heirs and
legal representatives of any person entitled to indemnity under this Article
VIII and
<PAGE> 23
Exhibit 4-B
Page 23 of 31
shall be applicable to Proceedings commenced or continuing after the adoption of
this Article VIII, whether arising from acts or omissions occurring before or
after such adoption.
(d) Advancement of Expenses; Procedures; Presumptions and Effect of
Certain Proceedings; Remedies. In furtherance but not in limitation of the
foregoing provisions, the following procedures, presumptions, and remedies shall
apply with respect to advancement of expenses and the right to indemnification
under this Article VIII:
(1) Advance of Expenses. All reasonable expenses incurred by or on behalf
of the Indemnitee in connection with any Proceeding shall be advanced to the
Indemnitee by the Corporation within 20 days after the receipt by the
Corporation of a statement or statements from the Indemnitee requesting such
advance or advances from time to time, whether prior to or after final
disposition of such Proceeding. Such statement or statements shall reasonably
evidence the expenses incurred by the Indemnitee and, if required by law at the
time of such advance, shall include or be accompanied by an undertaking by or on
behalf of the Indemnitee to repay the amounts advanced if it should ultimately
be determined that the Indemnitee is not entitled to be indemnified against such
expenses pursuant to this Article VIII.
(2) Procedure for Determination of Entitlement to Indemnification.
<PAGE> 24
Exhibit 4-B
Page 24 of 31
(i) To obtain indemnification under this Article VIII, an Indemnitee shall
submit to the Secretary of the Corporation a written request, including such
documentation and information as is reasonably available to the Indemnitee and
reasonably necessary to determine whether and to what extent the Indemnitee is
entitled to indemnification (the "Supporting Documentation"). The determination
of the Indemnitee's entitlement to indemnification shall be made not later than
60 days after receipt by the Corporation of the written request for
indemnification together with Supporting Documentation. The Secretary of the
Corporation shall advise the Board of Directors in writing, promptly upon
receipt of such a request for indemnification, that the Indemnitee has requested
indemnification.
(ii) The Indemnitee's entitlement to indemnification under this Article
VIII shall be determined in one of the following ways: (A) by a majority vote of
the Disinterested Directors (as hereinafter defined), even if they constitute
less than a quorum of the Board of Directors; (B) by a written opinion of
Independent Counsel (as hereinafter defined) if (x) a Change of Control (as
hereinafter defined) shall have occurred and the Indemnitee so requests or (y) a
quorum of the Board of Directors consisting of Disinterested Directors is not
obtainable or, even if obtainable, a majority of such Disinterested Directors so
directs; (C) by the stockholders of the Corporation (but only if a majority of
the Disinterested Directors present the issue of entitlement to indemnification
to the stockholders for their determination); or (D) as provided in Section
(d)(3).
<PAGE> 25
Exhibit 4-B
Page 25 of 31
(iii) In the event the determination of entitlement to indemnification is
to be made by Independent Counsel pursuant to Section (d)(2)(ii), a majority of
the Board of Directors shall select the Independent Counsel, but only an
Independent Counsel to which the Indemnitee does not reasonably object;
provided, however, that if a Change of Control shall have occurred, the
Indemnitee shall select such Independent Counsel, but only an Independent
Counsel to which the Board of Directors does not reasonably object.
(iv) The only basis upon which a finding of no entitlement to
indemnification may be made is that indemnification is prohibited by law.
(3) Presumptions and Effect of Certain Proceedings. Except as otherwise
expressly provided in this Article VIII, if a Change of Control shall have
occurred, the Indemnitee shall be presumed to be entitled to indemnification
under this Article VIII upon submission of a request for indemnification
together with the Supporting Documentation in accordance with Section (d)(2)(i),
and thereafter the Corporation shall have the burden of proof to overcome that
presumption in reaching a contrary determination. In any event, if the person or
persons empowered under Section (d)(2) to determine entitlement to
indemnification shall not have been appointed or shall not have made a
determination within 60 days after receipt by the Corporation of the request
therefor together with the Supporting Documentation, the Indemnitee shall be
deemed to be entitled to indemnification, and the Indemnitee shall be entitled
to such indemnification unless (A) the Indemnitee misrepresented or failed to
disclose a material fact in
<PAGE> 26
Exhibit 4-B
Page 26 of 31
making the request for indemnification or in the Supporting Documentation or (B)
such indemnification is prohibited by law. The termination of any Proceeding
described in Section (a), or of any claim, issue, or matter therein, by
judgment, order, settlement, or conviction, or upon a plea of nolo contendere or
its equivalent, shall not of itself adversely affect the right of the Indemnitee
to indemnification or create a presumption that the Indemnitee did not act in
good faith and in a manner which the Indemnitee reasonably believed to be in or
not opposed to the best interests of the Corporation or, with respect to any
criminal Proceeding, that the Indemnitee had reasonable cause to believe that
the Indemnitee's conduct was unlawful.
(4) Remedies of Indemnitee.
(i) In the event that a determination is made pursuant to Section (d)(2)
or (3) that the Indemnitee is not entitled to indemnification under this Article
VIII, (A) the Indemnitee shall be entitled to seek an adjudication of his
entitlement to such indemnification either, at the Indemnitee's sole option, in
(x) an appropriate court of the State of Delaware or any other court of
competent jurisdiction, or (y) an arbitration to be conducted by a single
arbitrator pursuant to the rules of the American Arbitration Association; (B)
any such judicial proceeding or arbitration shall be de novo and the Indemnitee
shall not be prejudiced by reason of such adverse determination; and (C) in any
such judicial proceeding or arbitration, the Corporation shall have the burden
of proving that the Indemnitee is not entitled to indemnification under this
Article VIII.
<PAGE> 27
Exhibit 4-B
Page 27 of 31
(ii) If pursuant to Section (d)(2) or (3) a determination shall have been
made or deemed to have been made that the Indemnitee is entitled to
indemnification, the Corporation shall be obligated to pay the amounts
constituting such indemnification within five days after such determination has
been made or is deemed to have been made and shall be conclusively bound by such
determination unless (A) the Indemnitee misrepresented or failed to disclose a
material fact in making the request for indemnification or in the Supporting
Documentation, or (B) such indemnification is prohibited by law. In the event
that (X) advancement of expenses is not timely made pursuant to Section (d)(l),
or (Y) payment of indemnification is not made within five days after a
determination of entitlement to indemnification has been made or deemed to have
been made pursuant to Section (d)(2) or (3), the Indemnitee shall be entitled to
seek judicial enforcement of the Corporation's obligation to pay to the
Indemnitee such advancement of expenses or indemnification. Notwithstanding the
foregoing, the Corporation may bring an action in an appropriate court in the
State of Delaware or any other court of competent jurisdiction, contesting the
right of the Indemnitee to receive indemnification hereunder due to the
occurrence of an event described in subclause (A) or (B) of this clause (ii) (a
"Disqualifying Event"); provided, however, that in any such action the
Corporation shall have the burden of proving the occurrence of such
Disqualifying Event.
(iii) The Corporation shall be precluded from asserting in any judicial
proceeding or arbitration commenced pursuant to this Section (d)(4) that the
procedures and presumptions of
<PAGE> 28
Exhibit 4-B
Page 28 of 31
this Article VIII are not valid, binding, and enforceable and shall stipulate in
any such court or before any such arbitrator that the Corporation is bound by
all the provisions of this Article VIII.
(iv) In the event that pursuant to this Section (d)(4) the Indemnitee
seeks a judicial adjudication of or an award in arbitration to enforce his
rights under, or to recover damages for breach of this Article VIII, the
Indemnitee shall be entitled to recover from the Corporation, and shall be
indemnified by the Corporation against, any expenses actually and reasonably
incurred by the Indemnitee if the Indemnitee prevails in such judicial
adjudication or arbitration. If it shall be determined in such judicial
adjudication or arbitration that the Indemnitee is entitled to receive part but
not all of the indemnification or advancement of expenses sought, the expenses
incurred by the Indemnitee in connection with such judicial adjudication or
arbitration shall be prorated accordingly.
(5) Definitions. For purposes of this Section (d):
(i) "Change in Control" means (A) so long as the Public Utility
Holding Company Act of 1935 is in effect, any "company" becoming a "holding
company" in respect to the Corporation or any determination by the Securities
and Exchange Commission that any "person" should be subject to the obligations,
duties, and liabilities if imposed by said Act by virtue or his, hers or its
influence over the management or policies of the Corporation, or (B) whether or
not said Act is in effect, a change in control of the Corporation of a nature
that would be required to be reported in response to Item 6(e) of Schedule 14A
of Regulation 14A promulgated under the
<PAGE> 29
Exhibit 4-B
Page 29 of 31
Securities Exchange Act of 1934 (the "Act"), whether or not the Corporation is
then subject to such reporting requirement; provided that, without limitation,
such a change in control shall be deemed to have occurred if (i) any "person"
(as such term is used in Section 13(d) and 14(d) of the Act) is or becomes the
"beneficial owner" (as defined in Rule 13d-3 under the Act), directly or
indirectly, of securities of the Corporation representing 10 percent or more of
the combined voting power of the Corporation's then outstanding securities
without the prior approval of at least two-thirds of the members of the Board of
Directors in office immediately prior to such acquisition; (ii) the Corporation
is a party to a merger, consolidation, sale of assets or other reorganization,
or a proxy contest, as a consequence of which members of the Board of Directors
in office immediately prior to such transaction or event constitute less than a
majority of the Board of Directors thereafter; or (iii) during any period of two
consecutive years, individuals who at the beginning of such period constituted
the Board of Directors (including for this purpose any new director whose
election or nomination for election by the Corporation's stockholders was
approved by a vote of at least two-thirds of the directors then still in office
who were directors at the beginning of such period) cease for any reason to
constitute at least a majority of the Board of Directors.
(ii) "Disinterested Director" means a director of the Corporation who is
not or was not a party to the Proceeding in respect of which indemnification is
sought by the Indemnitee.
<PAGE> 30
Exhibit 4-B
Page 30 of 31
(iii) "Independent Counsel" means a law firm or a member of a law firm
that neither presently is, nor in the past five years has been, retained to
represent: (A) the Corporation or the Indemnitee in any matter material to
either such party, or (B) any other party to the Proceeding giving rise to a
claim for indemnification under this Article VIII. Notwithstanding the
foregoing, the term "Independent Counsel" shall not include any person who,
under the applicable standards of professional conduct then prevailing under the
law of the State of Delaware, would have a conflict of interest in representing
either the Corporation or the Indemnitee in an action to determine the
Indemnitee's rights under this Article VIII.
(e) Severability. If any provision or provisions of this Article VIII
shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(i) the validity, legality, and enforceability of the remaining provisions of
this Article VIII (including, without limitation, all portions of any paragraph
of this Article VIII containing any such provision held to be invalid, illegal,
or unenforceable, that are not themselves invalid, illegal, or unenforceable)
shall not in any way be affected or impaired thereby; and (ii) to the fullest
extent possible, the provisions of this Article VIII (including, without
limitation, all portions of any paragraph of this Article VIII containing any
such provision held to be invalid, illegal, or unenforceable that are not
themselves invalid, illegal, or unenforceable) shall be construed so as to give
effect to the intent manifested by the provision held invalid, illegal, or
unenforceable.
<PAGE> 31
Exhibit 4-B
Page 31 of 31
(f) Successor Laws, Regulations, and Agencies. Reference herein to laws,
regulations, or agencies shall be deemed to include all amendments thereof,
substitutions therefor, and successors thereto.
ARTICLE IX
AMENDMENTS
Section 1. These Bylaws may be altered, amended, or repealed or new Bylaws
may be adopted by the stockholders or by the Board of Directors, when such power
is conferred upon the Board of Directors by the Certificate of Incorporation, at
any regular meeting of the stockholders or of the Board of Directors or at any
special meeting of the stockholders or of the Board of Directors if notice of
such alteration, amendment, repeal, or adoption of new Bylaws be contained in
the notice of such special meeting.
<PAGE> 1
Exhibit 5-B
Page 1 of 12
BYLAWS
OF
COLUMBIA DEEP WATER SERVICES COMPANY
ARTICLE I
Stockholders
Section 1.1. Annual Meetings. An annual meeting of stockholders shall
be held for the election of directors at such date, time and place, either
within or without the State of Delaware, as may be designated by resolution of
the Board of Directors from time to time. Any other proper business may be
transacted at the annual meeting.
Section 1.2. Special Meetings. Special meetings of stockholders for
any purpose or purposes may be called at any time by the Board of Directors, or
by a committee of the Board of Directors that has been duly designated by the
Board of Directors and whose powers and authority, as expressly provided in a
resolution of the Board of Directors, include the power to call such meetings,
but such special meetings may not be called by any other person or persons.
Section 1.3. Notice of Meetings. Whenever stockholders are required or
permitted to take any action at a meeting, a written notice of the meeting shall
be given that shall state the place, date and hour of the meeting and, in the
case of a special meeting, the purpose or purposes for which the meeting is
called. Unless otherwise provided by law, the certificate of incorporation or
these bylaws, the written notice of any meeting shall be given not less than ten
(10) nor more than sixty (60) days before the date of the meeting to each
stockholder entitled to vote at such meeting. If mailed, such notice shall be
deemed to be given when deposited in the United States mail, postage prepaid,
directed to the stockholder at his address as it appears on the records of the
corporation.
Section 1.4. Adjournments. Any meeting of stockholders, annual or
special, may adjourn from time to time to reconvene at the same or some other
place, and notice need not be given of any such adjourned meeting if the time
and place thereof are announced at the meeting at which the adjournment is
taken. At the adjourned meeting the corporation may transact any business which
might have been transacted at the original meeting. If the adjournment is
<PAGE> 2
Exhibit 5-B
Page 2 of 12
for more than thirty (30) days, or if after the adjournment a new record date is
fixed for the adjourned meeting, notice of the adjourned meeting shall be given
to each stockholder of record entitled to vote at the meeting.
Section 1.5. Quorum. Except as otherwise provided by law, the
certificate of incorporation or these bylaws, at each meeting of stockholders
the presence in person or by proxy of the holders of a majority in voting power
of the outstanding shares of stock entitled to vote at the meeting shall be
necessary and sufficient to constitute a quorum. In the absence of a quorum, the
stockholders so present may, by majority vote, adjourn the meeting from time to
time in the manner provided in Section 1.4 of these bylaws until a quorum shall
attend. Shares of its own stock belonging to the corporation or to another
corporation, if a majority of the shares entitled to vote in the election of
directors of such other corporation is held, directly or indirectly, by the
corporation, shall neither be entitled to vote nor be counted for quorum
purposes; provided, however, that the foregoing shall not limit the right of the
corporation or any subsidiary of the corporation to vote stock, including but
not limited to its own stock, held by it in a fiduciary capacity.
Section 1.6. Organization. Meetings of stockholders shall be presided
over by the Chairman of the Board, if any, or in his absence by the Vice
Chairman of the Board, if any, or in his absence by the President, or in his
absence by a Vice President, or in the absence of the foregoing persons by a
chairman designated by the Board of Directors, or in the absence of such
designation by a chairman chosen at the meeting. The Secretary shall act as
secretary of the meeting, but in his absence the person presiding over the
meeting may appoint any person to act as secretary of the meeting. The person
presiding over the meeting shall announce at the meeting of stockholders the
date and time of the opening and the closing of the polls for each matter upon
which the stockholders will vote.
Section 1.7. Voting; Proxies. Except as otherwise provided by the
certificate of incorporation, each stockholder entitled to vote at any meeting
of stockholders shall be entitled to one (1) vote for each share of stock held
by him which has voting power upon the matter in question. Each stockholder
entitled to vote at a meeting of stockholders or to express consent or dissent
to corporate action in writing without a meeting may authorize another person or
persons to act for him by proxy, but no such proxy shall be voted or acted upon
after three (3) years from its date, unless the proxy provides for a longer
period. A proxy shall be irrevocable if it states that it is irrevocable and if,
and only as long as, it is coupled with an interest sufficient in law to support
an irrevocable power. A stockholder may revoke any proxy which is not
irrevocable by attending the meeting and voting in person or by filing with the
Secretary of the corporation an instrument in writing revoking the proxy or by
delivering a proxy in accordance with applicable law bearing a later date to
the Secretary of the
<PAGE> 3
Exhibit 5-B
Page 3 of 12
corporation. Voting at meetings of stockholders need not be by written ballot.
At all meetings of stockholders for the election of directors a plurality of the
votes cast shall be sufficient to elect. All other elections and questions
shall, unless otherwise provided by law, the certificate of incorporation or
these bylaws, be decided by the affirmative vote of the holders of a majority in
voting power of the shares of stock which are present in person or by proxy and
entitled to vote thereon.
Section 1.8. Fixing Date for Determination of Stockholders of Record.
In order that the corporation may determine the stockholders entitled to notice
of or to vote at any meeting of stockholders or any adjournment thereof, or to
express consent to corporate action in writing without a meeting, or entitled to
receive payment of any dividend or other distribution or allotment of any
rights, or entitled to exercise any rights in respect of any change, conversion
or exchange of stock or for the purpose of any other lawful action, the Board of
Directors may fix a record date, which record date shall not precede the date
upon which the resolution fixing the record date is adopted by the Board of
Directors, and which record date: (i) in the case of determination of
stockholders entitled to vote at any meeting of stockholders or adjournment
thereof, shall, unless otherwise required by law, not be more than sixty (60)
nor less than ten (10) days before the date of such meeting; (ii) in the case of
determination of stockholders entitled to express consent to corporate action in
writing without a meeting, shall not be more than ten (10) days from the date
upon which the resolution fixing the record date is adopted by the Board of
Directors; and (iii) in the case of determination of stockholders for the
purpose of any other lawful action, shall not be more than sixty (60) days prior
to such other action. If no record date is fixed: (iv) the record date for
determining stockholders entitled to notice of or to vote at a meeting of
stockholders shall be at the close of business on the day next preceding the day
on which notice is given, or, if notice is waived, at the close of business on
the day next preceding the day on which the meeting is held; (v) the record date
for determining stockholders entitled to express consent to corporate action in
writing without a meeting, when no prior action of the Board of Directors is
required by law, shall be the first date on which a signed written consent
setting forth the action taken or proposed to be taken is delivered to the
corporation in accordance with applicable law, or, if prior action by the Board
of Directors is required by law, shall be at the close of business on the day on
which the Board of Directors adopts the resolution taking such prior action; and
(vi) the record date for determining stockholders for the purpose of any other
lawful action, shall be at the close of business on the day on which the Board
of Directors adopts the resolution relating thereto. A determination of
stockholders of record entitled to notice of or to vote at a meeting of
stockholders shall apply to any adjournment of the meeting; provided, however,
that the Board of Directors may fix a new record date for the adjourned meeting.
<PAGE> 4
Exhibit 5-B
Page 4 of 12
Section 1.9. List of Stockholders Entitled to Vote. The Secretary
shall prepare and make, at least ten (10) days before every meeting of
stockholders, a complete list of the stockholders entitled to vote at the
meeting, arranged in alphabetical order, and showing the address of each
stockholder and the number of shares registered in the name of each stockholder.
Such list shall be open to the examination of any stockholder, for any purpose
germane to the meeting, during ordinary business hours, for a period of at least
ten (10) days prior to the meeting, either at a place within the city where the
meeting is to be held, which place shall be specified in the notice of the
meeting, or, if not so specified, at the place where the meeting is to be held.
The list shall also be produced and kept at the time and place of the meeting
during the whole time thereof and may be inspected by any stockholder who is
present. Upon the willful neglect or refusal of the directors to produce such a
list at any meeting for the election of directors, they shall be ineligible for
election to any office at such meeting. Except as otherwise provided by law, the
stock ledger shall be the only evidence as to who are the stockholders entitled
(i) to examine the stock ledger, the list of stockholders entitled to vote at
the meeting or the books of the corporation, (ii) to vote in person or by proxy
at any meeting of stockholders, or (iii) to express consent or dissent to
corporate action in writing without a meeting.
Section 1.10. Action By Consent of Stockholders. Unless otherwise
restricted by the certificate of incorporation, any action required or permitted
to be taken at any annual or special meeting of the stockholders may be taken
without a meeting, without prior notice and without a vote, if a consent or
consents in writing, setting forth the action so taken, shall be signed by the
holders of outstanding stock having not less than the minimum number of votes
that would be necessary to authorize or take such action at a meeting at which
all shares entitled to vote thereon were present and voted and shall be
delivered (by hand or by certified or registered mail, return receipt requested)
to the corporation by delivery to its registered office in the State of
Delaware, its principal place of business, or an officer or agent of the
corporation having custody of the book in which minutes of proceedings of
meetings of stockholders are recorded. Prompt notice of the taking of the
corporate action without a meeting by less than unanimous written consent shall
be given to those stockholders who have not consented in writing.
Section 1.11. Inspectors of Election. The corporation may, and shall
if required by law, in advance of any meeting of stockholders, appoint one (1)
or more inspectors of election, who may be employees of the corporation, to act
at the meeting or any adjournment thereof and to make a written report thereof.
The corporation may designate one (1) or more persons as alternate inspectors to
replace any inspector who fails to act. In the event that no inspector so
appointed or designated is able to act at a meeting of the stockholders, the
person presiding at the meeting shall appoint one (1) or more inspectors to act
at
<PAGE> 5
Exhibit 5-B
Page 5 of 12
the meeting. Each inspector, before entering upon the discharge of his or her
duties, shall take and sign an oath to execute faithfully the duties of
inspector with strict impartiality and according to the best of his or her
ability. The inspector or inspectors so appointed or designated shall (i)
ascertain the number of shares of capital stock of the corporation outstanding
and the voting power of each such share, (ii) determine the shares of capital
stock of the corporation represented at the meeting and the validity of proxies
and ballots, (iii) count all votes and ballots, (iv) determine and retain for a
reasonable period a record of the disposition of any challenges made to any
determination by the inspectors, and (v) certify their determination of the
number of shares of capital stock of the corporation represented at the meeting
and such inspector's or inspectors' count of all votes and ballots. Such
certification and report shall specify such other information as may be required
by law. In determining validity and counting of proxies and ballots cast at any
meeting of stockholders of the corporation, the inspectors may consider such
information as is permitted by applicable law. No person who is a candidate for
an office at an election may serve as an inspector at such election.
Section 1.12. Conduct of Meetings. The Board of Directors of the
corporation may adopt by resolution such rules and regulations for the conduct
of the meeting of stockholders as it shall deem appropriate. Except to the
extent inconsistent with such rules and regulations as adopted by the Board of
Directors, the person presiding over any meeting of stockholders shall have the
right and authority to prescribe such rules, regulations and procedures and to
do all such acts as, in the judgment of such person, are appropriate for the
proper conduct of the meeting. Such rules, regulations or procedures, whether
adopted by the Board of Directors or prescribed by the person presiding over the
meeting, may include, without limitation, the following: (i) the establishment
of an agenda or order of business for the meeting; (ii) rules and procedures for
maintaining order at the meeting and the safety of those present; (iii)
limitations on attendance at or participation in the meeting to stockholders of
record of the corporation, their duly authorized and constituted proxies or such
other persons as the person presiding over the meeting shall determine; (iv)
restrictions on entry to the meeting after the time fixed for the commencement
thereof; and (v) limitations on the time allotted to questions or comments by
participants. Unless and to the extent determined by the Board of Directors or
the person presiding over the meeting, meetings of stockholders shall not be
required to be held in accordance with the rules of parliamentary procedure.
<PAGE> 6
Exhibit 5-B
Page 6 of 12
ARTICLE II
Board of Directors
Section 2.1. Number; Qualifications. The Board of Directors shall
consist of one (1) or more members. The number of members comprising the Board
of Directors initially shall be the number of persons named as directors in the
certificate of incorporation (or if no person is so named, the number of persons
elected by the Incorporator). The number of members comprising the Board of
Directors thereafter shall be determined from time to time by resolution of the
Board of Directors. Directors need not be stockholders.
Section 2.2. Election; Resignation; Removal; Vacancies. The Board of
Directors initially shall consist of the person or persons named as Directors in
the certificate of incorporation (or, if no person is so named, the person or
persons elected by the Incorporator), and each director so elected shall hold
office until his successor is elected and qualified or until his earlier death,
resignation, or removal. At the first annual meeting of stockholders and at each
annual meeting thereafter, the stockholders shall elect directors each of whom
shall hold office until his successor is elected and qualified or until his
earlier death, resignation, or removal. Any director may resign at any time upon
written notice to the corporation. Any newly created directorship or any vacancy
occurring in the Board of Directors for any cause may be filled by a majority of
the remaining members of the Board of Directors, although such majority is less
than a quorum, or by a plurality of the votes cast at a meeting of stockholders,
and each director so elected shall hold office until the expiration of the term
of office of the director whom he has replaced, or until his successor is
elected and qualified, or until his earlier death, resignation, or removal.
Section 2.3. Regular Meetings. Regular meetings of the Board of
Directors may be held at such places within or without the State of Delaware and
at such times as the Board of Directors may from time to time determine, and if
so determined notices thereof need not be given.
Section 2.4. Special Meetings. Special meetings of the Board of
Directors may be held at any time or place within or without the State of
Delaware whenever called by the President, any Vice President, the Secretary, or
by any member of the Board of Directors. Notice of a special meeting of the
Board of Directors shall be given by the person or persons calling the meeting
at least twenty-four (24) hours before the special meeting.
Section 2.5. Telephonic Meetings Permitted. Members of the Board
<PAGE> 7
Exhibit 5-B
Page 7 of 12
of Directors, or any committee designated by the Board of Directors, may
participate in a meeting thereof by means of conference telephone or similar
communications equipment by means of which all persons participating in the
meeting can hear each other, and participation in a meeting pursuant to this
bylaw shall constitute presence in person at such meeting.
Section 2.6. Quorum; Vote Required for Action. At all meetings of the
Board of Directors a majority of the whole Board of Directors shall constitute a
quorum for the transaction of business. Except in cases in which the certificate
of incorporation, these bylaws or applicable law otherwise provides, the vote of
a majority of the directors present at a meeting at which a quorum is present
shall be the act of the Board of Directors.
Section 2.7. Organization. Meetings of the Board of Directors shall be
presided over by the Chairman of the Board, if any, or in his absence by the
Vice Chairman of the Board, if any, or in his absence by the President, or in
the absence of the foregoing persons by a chairman chosen at the meeting. The
Secretary shall act as secretary of the meeting, but in his absence the person
presiding over the meeting may appoint any person to act as secretary of the
meeting.
Section 2.8. Informal Action by Directors. Unless otherwise restricted
by the certificate of incorporation or these bylaws, any action required or
permitted to be taken at any meeting of the Board of Directors, or of any
committee thereof, may be taken without a meeting if all members of the Board of
Directors or such committee, as the case may be, consent thereto in writing, and
the writing or writings are filed with the minutes of proceedings of the Board
of Directors or committee.
ARTICLE III
Committees
Section 3.1. Committees. The Board of Directors may, by resolution
passed by a majority of the whole Board of Directors, designate one (1) or more
committees, each committee to consist of one (1) or more of the directors of the
corporation. The Board of Directors may designate one (1) or more directors as
alternate members of any committee, who may replace any absent or disqualified
member at any meeting of the committee. In the absence or disqualification of a
member of the committee, the member or members thereof present at any meeting
and not disqualified from voting, whether or not he or they constitute a quorum,
may unanimously appoint another member of the Board of Directors to act at the
meeting in place of any such absent or disqualified member. Any such committee,
to the extent permitted by law and to
<PAGE> 8
Exhibit 5-B
Page 8 of 12
he extent provided in the resolution of the Board of Directors, shall have and
may exercise all the powers and authority of the Board of Directors in the
management of the business and affairs of the corporation, and may authorize the
seal of the corporation to be affixed to all papers which may require it.
Section 3.2. Committee Rules. Unless the Board of Directors otherwise
provides, each committee designated by the Board of Directors may make, alter
and repeal rules for the conduct of its business. In the absence of such rules
each committee shall conduct its business in the same manner as the Board of
Directors conducts its business pursuant to Article II of these bylaws.
ARTICLE IV
Officers
Section 4.1. Executive Officers; Election; Qualifications; Term of
Office; Resignation; Removal; Vacancies. The Board of Directors shall elect a
President and Secretary, and it may, if it so determines, choose a Chairman of
the Board and a Vice Chairman of the Board from among its members. The Board of
Directors may also choose one (1) or more Vice Presidents, one (1) or more
Assistant Secretaries, a Treasurer and one (1) or more Assistant Treasurers.
Each such officer shall hold office until the first meeting of the Board of
Directors after the annual meeting of stockholders next succeeding his election,
and until his successor is elected and qualified or until his earlier death,
resignation, or removal. Any officer may resign at any time upon written notice
to the corporation. The Board of Directors may remove any officer with or
without cause at any time, but such removal shall be without prejudice to the
contractual rights of such officer, if any, with the corporation. Any number of
offices may be held by the same person. Any vacancy occurring in any office of
the corporation by death, resignation, removal, or otherwise may be filled for
the unexpired portion of the term by the Board of Directors at any regular or
special meeting.
Section 4.2. Powers and Duties of Executive Officers.
(i) President. The President shall be the chief executive officer of
the corporation. Subject to the provisions of the certificate of incorporation,
these bylaws, and the direction of the Board of Directors, the President shall
have the responsibility for the general management and control of the business
and affairs of the corporation and shall perform all duties and have all powers
which are commonly incident to the office of chief executive or which are
delegated to him or her by the Board of Directors. The President shall have
power to execute in the name of the corporation all contracts, agreements,
deeds, bonds, mortgages, and other obligations and instruments of the
corporation which are authorized, and to affix the corporate seal thereto. The
President shall have general supervision and direction of all of the other
officers, employees, and agents of
<PAGE> 9
Exhibit 5-B
Page 9 of 12
the corporation.
(ii) Vice President. Each Vice President, if any, shall have such
powers and perform such duties as the Board of Directors may from time to time
prescribe. The Vice President (if only one (1) Vice President is chosen by the
Board) or one (1) Vice President designated by the Board (if two (2) or more
Vice Presidents are chosen by the Board of Directors) shall perform the duties
and exercise the powers of the President in the event of the President's absence
or disability.
(iii) Treasurer. The Treasurer, if any, shall have the responsibility
for maintaining the financial records of the corporation. The Treasurer shall
make such disbursements of the funds of the corporation as are authorized and
shall render from time to time an account of all such transactions and of the
financial condition of the corporation. The Treasurer shall have such other
powers and perform such other duties as the Board of Directors may from time to
time prescribe.
(iv) Secretary. The Secretary shall issue all authorized notices for,
and shall keep minutes of, all meetings of the stockholders and of the Board of
Directors. The Secretary shall have charge of the corporate books and seal,
shall have the power to affix the corporate seal to documents duly executed by
any officer, and to attest to such affixation and execution, and shall have such
other powers and perform such other duties as the Board of Directors may from
time to time prescribe.
(v) Assistant Secretary and Assistant Treasurer. Each Assistant
Secretary, if any, and each Assistant Treasurer, if any, shall have such powers
and perform such duties as the Board of Directors may from time to time
prescribe.
(vi) Delegation of Authority. The Board of Directors may from time to
time delegate the powers or duties of any officer to any other officers or
agents, notwithstanding any provision hereof.
ARTICLE V
Stock
Section 5.1. Certificates. Every holder of stock shall be entitled to
have a certificate signed by or in the name of the corporation by the Chairman
or Vice Chairman of the Board of Directors, if any, or the President or a Vice
President, and by the Treasurer or an Assistant Treasurer, or the Secretary or
an Assistant Secretary, of the corporation certifying the number of shares owned
by him in the corporation. Any of or all the signatures on the certificate may
be a facsimile. In case any officer, transfer agent, or registrar who has signed
or
<PAGE> 10
Exhibit 5-B
Page 10 of 12
whose facsimile signature has been placed upon a certificate shall have ceased
to be such officer, transfer agent, or registrar before such certificate is
issued, it may be issued by the corporation with the same effect as if he were
such officer, transfer agent, or registrar at the date of issue.
Section 5.2. Lost, Stolen or Destroyed Stock Certificates; Issuance of
New Certificates. The corporation may issue a new certificate of stock in the
place of any certificate theretofore issued by it, alleged to have been lost,
stolen or destroyed, and the corporation may require the owner of the lost,
stolen or destroyed certificate, or his legal representative, to give the
corporation a bond sufficient to indemnify it against any claim that may be made
against it on account of the alleged loss, theft or destruction of any such
certificate or the issuance of such new certificate.
ARTICLE VI
Indemnification
Section 6.1. Right to Indemnification. The corporation shall indemnify
and hold harmless, to the fullest extent permitted by applicable law as it
presently exists or may hereafter be amended, any person who was or is made or
is threatened to be made a party or is otherwise involved in any threatened,
pending, or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative (a "proceeding") by reason of the fact that he,
or a person for whom he is the legal representative, is or was a director or
officer of the corporation or is or was serving at the request of the
corporation as a director, officer, employee or agent of another corporation or
of a partnership, joint venture, trust, other enterprise or non-profit entity,
including service with respect to employee benefit plans (an "indemnitee"),
against all liability and loss suffered and expenses (including attorneys' fees)
reasonably incurred by such indemnitee. The corporation shall be required to
indemnify an indemnitee in connection with a proceeding (or part thereof)
initiated by such indemnitee only if the initiation of such proceeding (or part
thereof) by the indemnitee was authorized by the Board of Directors of the
corporation.
Section 6.2. Advancement of Expenses. The corporation shall pay the
expenses (including attorneys' fees) incurred by an indemnitee in defending any
proceeding referred to in Section 6.1 in advance of its final disposition;
provided, however, that the payment of expenses incurred by an indemnitee in
advance of the final disposition of such proceeding shall be made only upon
receipt of an undertaking by the indemnitee to repay all amounts advanced if it
should ultimately be determined that the indemnitee is not entitled to be
indemnified under this Article or otherwise.
<PAGE> 11
Exhibit 5-B
Page 11 of 12
Section 6.3. Claims. If a claim for indemnification or advancement of
expenses under this Article is not paid in full within sixty (60) days after a
written claim therefor by the indemnitee has been received by the corporation,
the indemnitee may file suit to recover the unpaid amount of such claim and, if
successful in whole or in part, shall be entitled to be paid the expense of
prosecuting such claim. In any such action the corporation shall have the burden
of proving that the indemnitee was not entitled to the requested indemnification
or advancement of expenses.
Section 6.4. Non-Exclusivity of Rights. The rights conferred on any
person by this Article shall not be exclusive of any other rights which such
person may have or hereafter acquire under any statute, provision of the
certificate of incorporation, these bylaws, agreement, vote of stockholders or
disinterested directors or otherwise.
Section 6.5. Other Indemnification. The corporation's obligation, if
any, to indemnify any person who was or is serving at its request as a director,
officer, employee or agent of another corporation, partnership, joint venture,
trust, enterprise or non-profit entity shall be reduced by any amount such
person may collect as indemnification from such other corporation, partnership,
joint venture, trust, enterprise or non-profit entity.
Section 6.6. Amendment or Repeal. Any repeal or modification of the
foregoing provisions of this Article shall not adversely affect any right or
protection hereunder of any person in respect of any act or omission occurring
prior to the time of such repeal or modification.
ARTICLE VII
Miscellaneous
Section 7.1. Fiscal Year. The fiscal year of the corporation shall
be determined by resolution of the Board of Directors.
Section 7.2. Seal. The corporate seal shall be in such form as may be
approved from time to time by the Board of Directors.
Section 7.3. Waiver of Notice of Meetings of Stockholders, Directors
and Committees. Any written waiver of notice, signed by the person entitled to
notice, whether before or after the time stated therein, shall be deemed
equivalent to notice. Attendance of a person at a meeting shall constitute a
waiver of notice of such meeting, except when the person attends a meeting for
the express purpose of objecting, at the beginning of the meeting, to the
transaction of any business because the meeting is not lawfully called or
convened.
<PAGE> 12
Exhibit 5-B
Page 12 of 12
Neither the business to be transacted at, nor the purpose of any regular or
special meeting of the stockholders, directors, or members of a committee of
directors need be specified in any written waiver of notice.
Section 7.4. Interested Directors; Quorum. No contract or transaction
between the corporation and one (1) or more of its directors or officers, or
between the corporation and any other corporation, partnership, association, or
other organization in which one (1) or more of its directors or officers are
directors or officers, or have a financial interest, shall be void or voidable
solely for this reason, or solely because the director or officer is present at
or participates in the meeting of the Board of Directors or committee thereof
which authorizes the contract or transaction, or solely because his or their
votes are counted for such purpose, if: (i) the material facts as to his
relationship or interest and as to the contract or transaction are disclosed or
are known to the Board of Directors or the committee, and the Board of Directors
or committee in good faith authorizes the contract or transaction by the
affirmative votes of a majority of the disinterested directors, even though the
disinterested directors be less than a quorum; or (ii) the material facts as to
his relationship or interest and as to the contract or transaction are disclosed
or are known to the stockholders entitled to vote thereon, and the contract or
transaction is specifically approved in good faith by vote of the stockholders;
or (iii) the contract or transaction is fair as to the corporation as of the
time it is authorized, approved or ratified, by the Board of Directors, a
committee thereof, or the stockholders. Common or interested directors may be
counted in determining the presence of a quorum at a meeting of the Board of
Directors or of a committee which authorizes the contract or transaction.
Section 7.5. Form of Records. Any records maintained by the
corporation in the regular course of its business, including its stock ledger,
books of account, and minute books, may be kept on, or be in the form of, punch
cards, magnetic tape, photographs, microphotographs, or any other information
storage device, provided that the records so kept can be converted into clearly
legible form within a reasonable time.
Section 7.6. Amendment of Bylaws. These bylaws may be altered or
repealed, and new bylaws made, by the Board of Directors to the extent permitted
by the certificate of incorporation, but the stockholders may make additional
bylaws and may alter and repeal any bylaws whether adopted by them or otherwise.
Date of Adoption: January 8, 1998
<PAGE> 1
Exhibit 6-B
Page 1 of 32
COLUMBIA ENERGY RESOURCES, INC.
*****
BY-LAWS
*****
ARTICLE I
OFFICES
Section 1. The registered office shall be in the City of Wilmington,
County of New Castle, State of Delaware.
Section 2. The corporation may also have offices at such other places both
within and without the State of Delaware as the Board of Directors may from time
to time determine or the business of the corporation may require.
ARTICLE II
MEETINGS OF STOCKHOLDERS
Section 1. All meetings of the stockholders for the election of directors
shall be held in the County of New Castle, State of Delaware, at such place as
may be fixed from time to time by the Board of Directors, or at such other place
either within or without the State of Delaware as shall be designated from time
to time by the Board of Directors and stated in the notice of the meeting.
Meetings of stockholders for any other purpose may be held at such time and
place, within or without the State of
<PAGE> 2
Exhibit 6-B
Page 2 of 32
Delaware, as shall be stated in the notice of the meeting or in a duly executed
waiver of notice thereof.
Section 2. Annual meetings of stockholders shall be held on the first
Monday of June if not a legal holiday, and if a legal holiday, then on the next
secular day following, at 10:00 A.M., or at such other date and time as shall be
designated from time to time by the Board of Directors and stated in the notice
of the meeting, at which they shall elect by a plurality vote a Board of
Directors, and transact such other business as may properly be brought before
the meeting.
Section 3. Written notice of the annual meeting stating the place, date
and hour of the meeting shall be given to each stockholder entitled to vote at
such meeting not less than ten nor more than sixty days before the date of the
meeting.
Section 4. The officer who has charge of the stock ledger of the
corporation shall prepare and make, at least ten days before every meeting of
stockholders, a complete list of the stockholders entitled to vote at the
meeting, arranged in alphabetical order, and showing the address of each
stockholder and the number of shares registered in the name of each stockholder.
Such list shall be open to the examination of any stockholder, for any purpose
germane to the meeting, during ordinary business hours, for a period of at least
ten days prior to the meeting, either at a
<PAGE> 3
Exhibit 6-B
Page 3 of 32
place within the city where the meeting is to be held, which place shall be
specified in the notice of the meeting, or, if not so specified, at the place
where the meeting is to be held. The list shall also be produced and kept at the
time and place of the meeting during the whole time thereof, and may be
inspected by any stockholder who is present.
Section 5. Special meetings of the stockholders, for any purpose or
purposes, unless otherwise prescribed by statute or by the Articles of
Incorporation, may be called by the president and shall be called by the
president or secretary at the request in writing of a majority of the Board of
Directors, or at the request in writing of stockholders owning a majority in
amount of the entire capital stock of the corporation issued and outstanding and
entitled to vote. Such request shall state the purpose or purposes of the
proposed meeting.
Section 6. Written notice of a special meeting stating the place, date,
and hour of the meeting and the purpose or purposes for which the meeting is
called, shall be given not less than ten nor more than sixty days before the
date of the meeting, to each stockholder entitled to vote at such meeting.
Section 7. Business transacted at any special meeting of the stockholders
shall be limited to the purposes stated in the notice.
<PAGE> 4
Exhibit 6-B
Page 4 of 32
Section 8. The holders of a majority of the stock issued and outstanding
and entitled to vote thereat, present in person or represented by proxy, shall
constitute a quorum at all meetings of the stockholders for the transaction of
business except as otherwise provided by statute or by the Articles of
Incorporation. If, however, such quorum shall not be present or represented at
any meeting of the stockholders, the stockholders entitled to vote thereat,
present in person or represented by proxy, shall have power to adjourn the
meeting from time to time, without notice other than announcement at the
meeting, until a quorum shall be present or represented. At such adjourned
meeting, at which a quorum shall be present or represented, any business may be
transacted which might have been transacted at the meeting as originally
notified. If the adjournment is for more than thirty days, or if after the
adjournment a new record date is fixed for the adjourned meeting, a notice of
the adjourned meeting shall be given to each stockholder of record entitled to
vote at the meeting.
Section 9. When a quorum is present at any meeting, the vote of the
holders of a majority of the stock having voting power present in person or
represented by proxy shall decide any question brought before such meeting,
unless the question is one upon which by express provision of statute or of the
Articles of Incorporation, a different vote is required in which case such
express provision shall govern and control the decision of such question.
<PAGE> 5
Exhibit 6-B
Page 5 of 32
Section 10. Unless otherwise provided in the Articles of Incorporation,
each stockholder shall at every meeting of the stockholders be entitled to one
vote in person or by proxy for each share of the capital stock having voting
power held by such stockholder, but no proxy shall be voted on after eleven
months from its date, unless the proxy provides for a longer period.
ARTICLE III
DIRECTORS
Section 1. The number of directors which shall constitute the whole Board
shall be not less than three nor more than nine. The number of directors shall
be determined by resolution of the Board of Directors or by the stockholders at
the annual meeting. The directors shall be elected at the annual meeting of the
stockholders, except as provided in Section 2 of this Article, and each director
elected shall hold office until his successor is elected and qualified.
Directors need not be stockholders.
Section 2. Vacancies and newly created directorships resulting from any
increase in the authorized number of directors may be filled by a majority of
the directors then in office, though less than a quorum, or by a sole remaining
director, and the directors so chosen shall hold office until the next annual
election or until their successors are duly elected and shall quality, unless
sooner displaced. If there are no
<PAGE> 6
Exhibit 6-B
Page 6 of 32
directors in office, then an election of directors may be held in the manner
provided by statute.
Section 3. The business of the corporation shall be managed by its Board
of Directors which may exercise all such powers of the corporation and do all
such lawful acts and things as are not by statute or by the Articles of
Incorporation or by these By-laws directed or required to be exercised or done
by the stockholders.
MEETINGS OF THE BOARD OF DIRECTORS
Section 4. The Board of Directors of the corporation may hold
meetings, both regular and special, either within or without the State of
Delaware.
Section 5. The first meeting of each newly elected Board of Directors
shall be held at such time and place as shall be fixed by the vote of the
stockholders at the annual meeting and no notice of such meeting shall be
necessary to the newly elected directors in order legally to constitute the
meeting, provided a quorum shall be present. In the event of the failure of the
stockholders to fix the time or place of such first meeting of the newly elected
Board of Directors, or in the event such meeting is not held at the time and
place so fixed by the stockholders, the meeting may be held at such time and
place as shall be specified in a notice given as hereinafter provided for
<PAGE> 7
Exhibit 6-B
Page 7 of 32
special meetings of the Board of Directors, or as shall be specified in a
written waiver signed by all of the Directors.
Section 6. Regular meetings of the Board of Directors may be held without
notice at such time and at such place as shall from time to time be determined
by the Board.
Section 7. Special meetings of the Board may be called by the president,
the secretary, or any assistant secretary on six hours' notice to each director,
either personally or by mail or by telegram; special meetings shall be called by
the president, the secretary, or an assistant secretary in like manner and on
like notice on the written request of two directors.
Section 8. At all meetings of the Board, a majority of the directors shall
constitute a quorum for the transaction of business, and the act of a majority
of the directors present at any meeting at which there is a quorum shall be the
act of the Board of Directors, except as may be otherwise specifically provided
by statute or by the Articles of Incorporation. If a quorum shall not be present
at any meeting of the Board of Directors, the directors present thereat may
adjourn the meeting from time to time, without notice other than announcement at
the meeting, until a quorum shall be present.
<PAGE> 8
Exhibit 6-B
Page 8 of 32
Section 9. Unless otherwise restricted by the Articles of Incorporation or
these By-laws, any action required or permitted to be taken at any meeting of
the Board of Directors or of any committee thereof may be taken without a
meeting, if all members of the Board or committee, as the case may be, consent
thereto in writing, and the writing or writings are filed with the minutes of
proceedings of the Board or committee.
Section 10. Unless otherwise restricted by the Articles of Incorporation
or these By-laws, members of the Board of Directors, or any committee designated
by the Board of Directors, may participate in a meeting of the Board of
Directors, or any committee, by means of conference telephone or similar
communications equipment by means of which all persons participating in the
meeting can hear each other, and such participation in a meeting shall
constitute presence in person at the meeting.
COMMITTEES OF DIRECTORS
Section 11. The Board of Directors may, by resolution passed by a majority
of the whole Board, designate one or more committees, each committee to consist
of one or more of the directors of the corporation. The Board may designate one
or more directors as alternate members of any committee, who may replace any
absent or disqualified member at any meeting of the committee. In the absence or
disqualification of a member of a committee, the member or members thereof
present
<PAGE> 9
Exhibit 6-B
Page 9 of 32
at any meeting and not disqualified from voting, whether or not he or they
constitute a quorum, may unanimously appoint another member of the Board of
Directors to act at the meeting in the place of any such absent or disqualified
member. Any such committee, to the extent provided in the resolution of the
Board of Directors, shall have and may exercise all the powers and authority of
the Board of Directors in the management of the business and affairs of the
corporation, and may authorize the seal of the corporation to be affixed to all
papers which may require it; but no such committee shall have the power or
authority in reference to amending the Articles of Incorporation, adopting an
agreement of merger or consolidation, recommending to the stockholders the sale,
lease, or exchange of all or substantially all of the corporation's property and
assets, recommending to the stockholders a dissolution of the corporation or a
revocation of a dissolution, or amending the By-laws of the corporation, declare
a dividend, to authorize the issuance of stock, or fill vacancies on the Board
of Directors or any committee. Such committee or committees shall have such name
or names as may be determined from time to time by resolution adopted by the
Board of Directors.
Section 12. Each committee shall keep regular minutes of its meetings and
report the same to the Board of Directors.
COMPENSATION OF DIRECTORS
<PAGE> 10
Exhibit 6-B
Page 10 of 32
Section 13. Unless otherwise restricted by the Articles of Incorporation
or these By-laws, the Board of Directors shall have the authority to fix the
compensation of directors. The directors may be paid their expenses, if any, of
attendance at each meeting of the Board of Directors and may be paid a fixed sum
for attendance at each meeting of the Board of Directors or a stated salary as
director. No such payment shall preclude any director from serving the
corporation in any other capacity and receiving compensation therefor. Members
of special or standing committees may be allowed like compensation for attending
committee meetings.
ARTICLE IV
NOTICES
Section 1. Whenever, under the provisions of applicable statute or of the
Articles of Incorporation or of these By-laws, notice is required to be given to
any director or stockholder, it shall not be construed to mean personal notice,
but such notice may be given in writing, by mail, addressed to such director or
stockholder, at his address as it appears on the records of the corporation,
with postage thereon prepaid, and such notice shall be deemed to be given at the
time when the same shall be deposited in the United States mail. Notice to
directors may also be given by telegram, data facsimile, or other similar method
of transmitting a written communication.
<PAGE> 11
Exhibit 6-B
Page 11 of 32
Section 2. Whenever any notice is required to be given under the
provisions of applicable statute or of the Articles of Incorporation or of these
By-laws, a waiver thereof in writing, signed by the person or persons entitled
to said notice, whether before or after the time stated therein, shall be deemed
equivalent thereto.
ARTICLE V
OFFICERS
Section 1. The officers of the corporation shall be chosen by the Board of
Directors and shall be a president and a secretary. The Board of Directors may
also choose vice-presidents, a treasurer, a controller, and one or more
assistant secretaries and assistant treasurers, and assistant controllers and
such other officers as it deems necessary from time to time. Any number of
offices may be held by the same person, unless the Articles of Incorporation or
these By-laws otherwise provide.
Section 2. The Board of Directors at its first meeting after each annual
meeting of stockholders shall choose a president and a secretary.
Section 3. The Board of Directors may appoint such other officers and
agents as it shall deem necessary who shall hold their offices for such terms
and shall exercise such powers and perform such duties as shall be determined
from time to time by the Board.
<PAGE> 12
Exhibit 6-B
Page 12 of 32
Section 4. The salaries of all officers and agents of the corporation
shall be fixed by the Board of Directors.
Section 5. The officers of the corporation shall hold office until their
successors are chosen and qualify. Any officer elected or appointed by the Board
of Directors may be removed at any time by the affirmative vote of a majority of
the Board of Directors. Any vacancy occurring in any office of the corporation
shall be filled by the Board of Directors.
THE PRESIDENT AND VICE PRESIDENTS
Section 6. The president shall be the chief executive officer of the
corporation, shall preside at all meetings of the stockholders and the Board of
Directors, shall have general and active management of the business of the
corporation and shall see that all orders and resolutions of the Board of
Directors are carried into effect.
Section 7. The president shall execute bonds, mortgages and other
contracts requiring a seal, under the seal of the corporation, except where
required or permitted by law to be otherwise signed and executed or except where
the signing and execution thereof shall be expressly delegated by the Board of
Directors to some other officer or agent of the corporation.
<PAGE> 13
Exhibit 6-B
Page 13 of 32
Section 8. The vice president, or if there be more than one, the vice
presidents in the order determined by the Board of Directors (or if there be no
such determination, then in the order of their election), shall perform such
duties and exercise such powers as the Board of Directors may from time to time
prescribe.
THE SECRETARY AND ASSISTANT SECRETARIES
Section 9. The secretary shall attend all meetings of the Board of
Directors and all meetings of the stockholders and record all the proceedings of
the meetings of the corporation and of the Board of Directors in a book to be
kept for that purpose and shall perform like duties for the standing committees
when required. He shall give, or cause to be given, notice of all meetings of
the stockholders and special meetings of the Board of Directors, and shall
perform such other duties as may be prescribed by the Board of Directors or
president, under whose supervision he shall be. He shall have custody of the
corporate seal of the corporation and he, or an assistant secretary, shall have
authority to affix the same to any instrument requiring it and when so affixed,
it may be attested by his signature or by the signature of such assistant
secretary. The Board of Directors may give general authority to any other
officer to affix the seal of the corporation and to attest the affixing by his
signature.
<PAGE> 14
Exhibit 6-B
Page 14 of 32
Section 10. An assistant secretary, or if there be more than one, the
assistant secretaries in the order determined by the Board of Directors (or if
there be no such determination, then in the order of their election), shall, in
the absence of the secretary or in the event of his inability or refusal to act,
perform the duties and exercise the powers of the secretary and shall perform
such other duties and have such other powers as the Board of Directors may from
time to time prescribe.
THE TREASURER AND ASSISTANT TREASURERS
Section 11. The treasurer or, as directed by the Board of Directors,
one or more assistant treasurers shall have the custody of the corporate funds
and securities and shall keep full and accurate accounts of receipts and
disbursements in books belonging to the corporation and shall deposit all moneys
and other valuable effects in the name and to the credit of the corporation in
such depositories as may be designated by the Board of Directors.
Section 12. The treasurer or, as directed by the Board of Directors, one
or more assistant treasurers shall disburse the funds of the corporation as may
be ordered by the Board of Directors, taking proper vouchers for such
disbursements, and shall render to the president and the Board of Directors, at
its regular meetings, or when the Board of Directors so requires, an account of
all his/their transactions as treasurer/assistant treasurer.
<PAGE> 15
Exhibit 6-B
Page 15 of 32
Section 13. If required by the Board of Directors, the treasurer or an
assistant treasurer shall give the corporation a bond (which shall be renewed
every six years) in such sum and with such surety or sureties as shall be
satisfactory to the Board of Directors for the faithful performance of the
duties of their offices and for the restoration to the corporation, in case of
their death, resignation, retirement or removal from office, of all books,
papers, vouchers, money and other property of whatever kind in their possession
or under their control belonging to the corporation.
Section 14. The assistant treasurer, or if there shall be more than one,
the assistant treasurers in the order determined by the Board of Directors (or
if there be no such determination, then in the order of their election), shall,
in the absence of the treasurer or in the event of his inability or refusal to
act, perform the duties and exercise the powers of the treasurer and shall
perform such other duties and have such other powers as the Board of Directors
may from time to time prescribe.
THE CONTROLLER AND ASSISTANT CONTROLLER
Section 15. The controller, or as directed by the Board of Directors,
one or more assistant controllers, shall maintain adequate records of all
assets, liabilities, and transactions of the corporation, ensure that the
financial results of operations are properly recorded and that adequate audits
thereof are currently and regularly made;
<PAGE> 16
Exhibit 6-B
Page 16 of 32
and, in conjunction with other officers, initiate and enforce measures and
procedures whereby the business of the corporation shall be conducted with the
maximum safety, efficiency, and economy. The controller or an assistant
controller shall report to the president and/or the Board of Directors at its
regular meetings on the financial results of the Corporation's operations. The
controller shall have such other duties as the Board of Directors may designate
from time to time.
ARTICLE VI
CERTIFICATES OF STOCK
Section 1. Every holder of stock in the corporation shall be entitled to
have a certificate, signed by, or in the name of the corporation, by the
president or the vice president, or the secretary or an assistant secretary of
the corporation, certifying the number of shares owned by him in the
corporation.
Section 2. Any of or all the signatures on the certificate may be
facsimile. In case any officer, transfer agent or registrar who has signed or
whose facsimile signature has been placed upon a certificate shall have ceased
to be such officer, transfer agent or registrar before such certificate is
issued, it may be issued by the corporation with the same effect as if he were
such officer, transfer agent or registrar at the date of issue.
<PAGE> 17
Exhibit 6-B
Page 17 of 32
LOST CERTIFICATES
Section 3. The Board of Directors may direct a new certificate or
certificates to be issued in place of any certificate or certificates
theretofore issued by the corporation alleged to have been lost, stolen or
destroyed, upon the making of an affidavit of that fact by the person claiming
the certificate of stock to be lost, stolen or destroyed. When authorizing such
issue of a new certificate or certificates, the Board of Directors may, in its
discretion and as a condition precedent to the issuance thereof, require the
owner of such lost, stolen or destroyed certificate or certificates, or his
legal representative, to advertise the same in such manner as it shall require
and/or to give the corporation a bond in such sum as it may direct as indemnity
against any claim that may be made against the corporation with respect to the
certificate alleged to have been lost, stolen or destroyed.
TRANSFERS OF STOCK
Section 4. Upon surrender to the corporation or the transfer agent of the
corporation of a certificate for shares duly endorsed or accompanied by proper
evidence of succession, assignment or authority to transfer, it shall be the
duty of the corporation to issue a new certificate to the person entitled
thereto, cancel the old certificate and record the transaction upon its books.
FIXING RECORD DATE
<PAGE> 18
Exhibit 6-B
Page 18 of 32
Section 5. In order that the corporation may determine the stockholders
entitled to notice of or to vote at any meeting of stockholders or any
adjournment thereof, or to express consent to corporate action in writing
without a meeting, or entitled to receive payment of any dividend or other
distribution or allotment of any rights, or entitled to exercise any rights in
respect of any change, conversion or exchange of stock or for the purpose of any
other lawful action, the Board of Directors may fix, in advance, a record date,
which shall not be more than sixty nor less than ten days before the date of
such meeting, nor more than sixty days prior to any other action. A
determination of stockholders of record entitled to notice of or to vote at a
meeting of stockholders shall apply to any adjournment of the meeting; provided,
however, that the Board of Directors may fix a new record date for the adjourned
meeting.
REGISTERED STOCKHOLDERS
Section 6. The corporation shall be entitled to recognize the exclusive
right of a person registered on its books as the owner of shares to receive
dividends, and to vote as such owner, and to hold liable for calls and
assessments a person registered on its books as the owner of shares, and shall
not be bound to recognize any equitable or other claim to or interest in such
share or shares on the part of any other person, whether or not it shall have
express or other notice thereof, except as otherwise provided by the laws of
Delaware.
<PAGE> 19
Exhibit 6-B
Page 19 of 32
ARTICLE VII
GENERAL PROVISIONS
DIVIDENDS
Section 1. Dividends upon the capital stock of the corporation, subject to
the provisions of the Articles of Incorporation, if any, may be declared by the
Board of Directors at any regular or special meeting, pursuant to law. Dividends
may be paid in cash, in property, or in shares of the capital stock, subject to
the provisions of the Articles of Incorporation.
Section 2. Before payment of any dividend, there may be set aside out of
any funds of the corporation available for dividends such sum or sums as the
directors from time to time, in their absolute discretion, think proper as a
reserve or reserves to meet contingencies, or for equalizing dividends, or for
repairing or maintaining any property of the corporation, or for such other
purpose as the directors shall think conducive to the interest of the
corporation, and the directors may modify or abolish any such reserve in the
manner in which it was created.
CHECKS
Section 3. All checks, drafts, notes, bills of exchange, and orders for
the payment of money (including orders for repetitive or non-repetitive
electronic funds
<PAGE> 20
Exhibit 6-B
Page 20 of 32
transfers) shall, unless otherwise directed by the Board of Directors, or unless
required by law, be signed by any two of the following officers: the President,
any Vice President, the Secretary, or any Assistant Secretary; provided that in
every case at least one such officer shall be the President, a Vice President or
the Secretary. The Board of Directors may, however, notwithstanding the
foregoing provision, by resolution adopted at any meeting, authorize any of said
officers or any employee of the Corporation so designated by the Board of
Directors of the Corporation to sign, checks, drafts, and such orders for the
payment of money singly and without necessity of countersignature, and may
designate officers of the Corporation other than those named above or any
employee of the Corporation so designated by the Board of Directors of the
Corporation, or different combinations of such officers or any employee of the
Corporation so designated by the Board of Directors of the Corporation, who may,
in the name of the Corporation, execute checks, drafts, and such orders for the
payment of money on its behalf. Further, the President is authorized to
designate to the Corporation's banks, in writing, individuals employed in the
Columbia Gas System Service Corporation Cash Management Department, who need not
be officers or employees of the Corporation to give in the name of the
Corporation telephonic, telegraphic, or electronic transfer instructions for the
payment of money, which may, with respect to routine items, include instructions
as to the amount to be transferred, to any bank, pursuant to previously issued
written orders, signed by officers of the Corporation or by any employee of the
Corporation so designated by the Board of
<PAGE> 21
Exhibit 6-B
Page 21 of 32
Directors of the Corporation in any manner provided above, which designate the
recipients of such amounts and which identify what shall be treated as routine
items.
FISCAL YEAR
Section 4. The fiscal year of the corporation begins on the first day of
January and ends on the thirty-first day of December in each year.
SEAL
Section 5. The corporate seal shall have inscribed thereon the name of the
corporation, and the words "Corporate Seal 1998 Delaware". The seal may be used
by causing it or a facsimile thereof to be impressed or affixed or reproduced or
otherwise.
ARTICLE VIII
INDEMNIFICATION
(a) Right to Indemnification. The Corporation shall to the fullest extent
permitted by applicable law as then in effect indemnify any person (the
"Indemnitee") who was or is involved in any manner (including, without
limitation, as a party or a witness) or is threatened to be made so involved in
any threatened, pending or completed investigation, claim, action, suit or
proceeding, whether civil, criminal, administrative, or investigative (including
without limitation, any action, suit, or
<PAGE> 22
Exhibit 6-B
Page 22 of 32
proceeding by or in the right of the Corporation to procure a judgment in its
favor) (a "Proceeding") by reason of the fact that such person is or was a
director, officer, employee, or agent of the Corporation, or is or was serving
at the request of the Corporation as a director, officer, employee, or agent of
another corporation, partnership, joint venture, trust, or other enterprise
(including, without limitation, any employee benefit plan) against all expenses
(including attorneys' fees), judgments, fines, and amounts paid in settlement
actually and reasonably incurred by such person in connection with such
Proceeding. Such indemnification shall be a contract right and shall include the
right to receive payment of any expenses incurred by the Indemnitee in
connection with such Proceeding in advance of its final disposition, consistent
with the provisions of applicable law as then in effect.
(b) Insurance, Contracts, and Funding. The Corporation may purchase and
maintain insurance to protect itself and any indemnitee against any expenses,
judgments, fines, and amounts paid in settlement as specified in Section (a) of
this Article VIII or incurred by an Indemnitee in connection with any proceeding
referred to in Section (a) of this Article VIII, to the fullest extent permitted
by applicable law as then in effect. The Corporation may enter into contracts
with any director, officer, employee, or agent of the Corporation or use other
means in furtherance of the provisions of this Article VIII to ensure the
payment of such amounts as may be necessary to effect indemnification as
provided in this Article VIII.
<PAGE> 23
Exhibit 6-B
Page 23 of 32
(c) Indemnification; Not Exclusive Right. The right of indemnification
provided in this Article VIII shall not be exclusive of any other rights to
which those seeking indemnification may otherwise be entitled, and the
provisions of this Article VIII shall inure to the benefit of the heirs and
legal representatives of any person entitled to indemnity under this Article
VIII and shall be applicable to Proceedings commenced or continuing after the
adoption of this Article VIII, whether arising from acts or omissions occurring
before or after such adoption.
(d) Advancement of Expenses; Procedures; Presumptions and Effect of
Certain Proceedings; Remedies. In furtherance but not in limitation of the
foregoing provisions, the following procedures, presumptions, and remedies shall
apply with respect to advancement of expenses and the right to indemnification
under this Article VIII:
(1) Advance of Expenses. All reasonable expenses incurred by or on behalf
of the Indemnitee in connection with any Proceeding shall be advanced to the
Indemnitee by the Corporation within 20 days after the receipt by the
Corporation of a statement or statements from the Indemnitee requesting such
advance or advances from time to time, whether prior to or after final
disposition of such Proceeding. Such statement or statements shall reasonably
evidence the expenses incurred by the
<PAGE> 24
Exhibit 6-B
Page 24 of 32
Indemnitee and, if required by law at the time of such advance, shall include or
be accompanied by an undertaking by or on behalf of the Indemnitee to repay the
amounts advanced if it should ultimately be determined that the Indemnitee is
not entitled to be indemnified against such expenses pursuant to this Article
VIII.
(2) Procedure for Determination of Entitlement to Indemnification.
(i) To obtain indemnification under this Article VIII, an Indemnitee shall
submit to the Secretary of the Corporation a written request, including such
documentation and information as is reasonably available to the Indemnitee and
reasonably necessary to determine whether and to what extent the Indemnitee is
entitled to indemnification (the "Supporting Documentation"). The determination
of the Indemnitee's entitlement to indemnification shall be made not later than
60 days after receipt by the Corporation of the written request for
indemnification together with Supporting Documentation. The Secretary of the
Corporation shall advise the Board of Directors in writing, promptly upon
receipt of such a request for indemnification, that the Indemnitee has requested
indemnification.
(ii) The Indemnitee's entitlement to indemnification under this Article
VIII shall be determined in one of the following ways: (A) by a majority vote of
the Disinterested Directors (as hereinafter defined), even if they constitute
less than a quorum of the
<PAGE> 25
Exhibit 6-B
Page 25 of 32
Board of Directors; (B) by a written opinion of Independent Counsel (as
hereinafter defined) if (x) a Change of Control (as hereinafter defined) shall
have occurred and the Indemnitee so requests or (y) a quorum of the Board of
Directors consisting of Disinterested Directors is not obtainable or, even if
obtainable, a majority of such Disinterested Directors so directs; (C) by the
stockholders of the Corporation (but only if a majority of the Disinterested
Directors present the issue of entitlement to indemnification to the
stockholders for their determination); or (D) as provided in Section (d)(3).
(iii) In the event the determination of entitlement to indemnification is
to be made by Independent Counsel pursuant to Section (d)(2)(ii), a majority of
the Board of Directors shall select the Independent Counsel, but only an
Independent Counsel to which the Indemnitee does not reasonably object;
provided, however, that if a Change of Control shall have occurred, the
Indemnitee shall select such Independent Counsel, but only an Independent
Counsel to which the Board of Directors does not reasonably object.
(iv) The only basis upon which a finding of no entitlement to
indemnification may be made is that indemnification is prohibited by law.
<PAGE> 26
Exhibit 6-B
Page 26 of 32
(3) Presumptions and Effect of Certain Proceedings. Except as otherwise
expressly provided in this Article VIII, if a Change of Control shall have
occurred, the Indemnitee shall be presumed to be entitled to indemnification
under this Article VIII upon submission of a request for indemnification
together with the Supporting Documentation in accordance with Section (d)(2)(i),
and thereafter the Corporation shall have the burden of proof to overcome that
presumption in reaching a contrary determination. In any event, if the person or
persons empowered under Section (d)(2) to determine entitlement to
indemnification shall not have been appointed or shall not have made a
determination within 60 days after receipt by the Corporation of the request
therefor together with the Supporting Documentation, the Indemnitee shall be
deemed to be entitled to indemnification, and the Indemnitee shall be entitled
to such indemnification unless (A) the Indemnitee misrepresented or failed to
disclose a material fact in making the request for indemnification or in the
Supporting Documentation or (B) such indemnification is prohibited by law. The
termination of any Proceeding described in Section (a), or of any claim, issue,
or matter therein, by judgment, order, settlement, or conviction, or upon a plea
of nolo contendere or its equivalent, shall not of itself adversely affect the
right of the Indemnitee to indemnification or create a presumption that the
Indemnitee did not act in good faith and in a manner which the Indemnitee
reasonably believed to be in or not opposed to the best interests of the
Corporation or, with respect to any criminal Proceeding, that
<PAGE> 27
Exhibit 6-B
Page 27 of 32
the Indemnitee had reasonable cause to believe that the Indemnitee's conduct was
unlawful.
(4) Remedies of Indemnitee.
(i) In the event that a determination is made pursuant to Section (d)(2)
or (3) that the Indemnitee is not entitled to indemnification under this Article
VIII, (A) the Indemnitee shall be entitled to seek an adjudication of his
entitlement to such indemnification either, at the Indemnitee's sole option, in
(x) an appropriate court of the State of Delaware or any other court of
competent jurisdiction, or (y) an arbitration to be conducted by a single
arbitrator pursuant to the rules of the American Arbitration Association; (B)
any such judicial proceeding or arbitration shall be de nova and the Indemnitee
shall not be prejudiced by reason of such adverse determination; and (C) in any
such judicial proceeding or arbitration, the Corporation shall have the burden
of proving that the Indemnitee is not entitled to indemnification under this
Article VIII.
(ii) If pursuant to Section (d)(2) or (3) a determination shall have been
made or deemed to have been made that the Indemnitee is entitled to
indemnification, the Corporation shall be obligated to pay the amounts
constituting such indemnification within five days after such determination has
been made or is deemed to have been made and shall be conclusively bound by such
determination unless (A) the Indemnitee misrepresented or failed to disclose a
material fact in making the request for
<PAGE> 28
Exhibit 6-B
Page 28 of 32
indemnification or in the Supporting Documentation, or (B) such indemnification
is prohibited by law. In the event that (X) advancement of expenses is not
timely made pursuant to Section (d)(l), or (Y) payment of indemnification is not
made within five days after a determination of entitlement to indemnification
has been made or deemed to have been made pursuant to Section (d)(2) or (3), the
Indemnitee shall be entitled to seek judicial enforcement of the Corporation's
obligation to pay to the Indemnitee such advancement of expenses or
indemnification. Notwithstanding the foregoing, the Corporation may bring an
action in an appropriate court in the State of Delaware or any other court of
competent jurisdiction, contesting the right of the Indemnitee to receive
indemnification hereunder due to the occurrence of an event described in
subclause (A) or (B) of this clause (ii) (a "Disqualifying Event"); provided,
however, that in any such action the Corporation shall have the burden of
proving the occurrence of such Disqualifying Event.
(iii) The Corporation shall be precluded from asserting in any judicial
proceeding or arbitration commenced pursuant to this Section (d)(4) that the
procedures and presumptions of this Article VIII are not valid, binding, and
enforceable and shall stipulate in any such court or before any such arbitrator
that the Corporation is bound by all the provisions of this Article VIII.
<PAGE> 29
Exhibit 6-B
Page 29 of 32
(iv) In the event that pursuant to this Section (d)(4) the Indemnitee
seeks a judicial adjudication of or an award in arbitration to enforce his
rights under, or to recover damages for breach of this Article VIII, the
Indemnitee shall be entitled to recover from the Corporation, and shall be
indemnified by the Corporation against, any expenses actually and reasonably
incurred by the Indemnitee if the Indemnitee prevails in such judicial
adjudication or arbitration. If it shall be determined in such judicial
adjudication or arbitration that the Indemnitee is entitled to receive part but
not all of the indemnification or advancement of expenses sought, the expenses
incurred by the Indemnitee in connection with such judicial adjudication or
arbitration shall be prorated accordingly.
(5) Definitions. For purposes of this Section (d):
(i) "Change in Control" means (A) so long as the Public Utility
Holding Company Act of 1935 is in effect, any "company" becoming a "holding
company" in respect to the Corporation or any determination by the Securities
and Exchange Commission that any "person" should be subject to the obligations,
duties, and liabilities if imposed by said Act by virtue or his, hers or its
influence over the management or policies of the Corporation, or (B) whether or
not said Act is in effect, a change in control of the Corporation of a nature
that would be required to be reported in response to Item 6(e) of Schedule 14A
of Regulation 14A promulgated under the Securities Exchange Act of 1934 (the
"Act"), whether or not the Corporation is then subject to
<PAGE> 30
Exhibit 6-B
Page 30 of 32
such reporting requirement; provided that, without limitation, such a change in
control shall be deemed to have occurred if (i) any "person" (as such term is
used in Section 13(d) and 14(d) of the Act) is or becomes the "beneficial owner"
(as defined in Rule 13d-3 under the Act), directly or indirectly, of securities
of the Corporation representing 10 percent or more of the combined voting power
of the Corporation's then outstanding securities without the prior approval of
at least two-thirds of the members of the Board of Directors in office
immediately prior to such acquisition; (ii) the Corporation is a party to a
merger, consolidation, sale of assets or other reorganization, or a proxy
contest, as a consequence of which members of the Board of Directors in office
immediately prior to such transaction or event constitute less than a majority
of the Board of Directors thereafter; or (iii) during any period of two
consecutive years, individuals who at the beginning of such period constituted
the Board of Directors (including for this purpose any new director whose
election or nomination for election by the Corporation's stockholders was
approved by a vote of at least two-thirds of the directors then still in office
who were directors at the beginning of such period) cease for any reason to
constitute at least a majority of the Board of Directors.
(ii) "Disinterested Director" means a director of the Corporation who is
not or was not a party to the Proceeding in respect of which indemnification is
sought by the Indemnitee.
<PAGE> 31
Exhibit 6-B
Page 31 of 32
(iii) "Independent Counsel" means a law firm or a member of a law firm
that neither presently is, nor in the past five years has been, retained to
represent: (A) the Corporation or the Indemnitee in any matter material to
either such party, or (B) any other party to the Proceeding giving rise to a
claim for indemnification under this Article VIII. Notwithstanding the
foregoing, the term "Independent Counsel" shall not include any person who,
under the applicable standards of professional conduct then prevailing under the
law of the State of Delaware, would have a conflict of interest in representing
either the corporation or the Indemnitee in an action to determine the
Indemnitee's rights under this Article VIII.
(e) Severability. If any provision or provisions of this Article VIII
shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(i) the validity, legality, and enforceability of the remaining provisions of
this Article VIII (including, without limitation, all portions of any paragraph
of this Article VIII containing any such provision held to be invalid, illegal,
or unenforceable, that are not themselves invalid, illegal, or unenforceable)
shall not in any way be affected or impaired thereby; and (ii) to the fullest
extent possible, the provisions of this Article VIII (including, without
limitation, all portions of any paragraph of this Article VIII containing any
such provision held to be invalid, illegal, or unenforceable that are not
themselves invalid, illegal, or unenforceable) shall be construed so as to give
effect to the intent manifested by the provision held invalid, illegal, or
unenforceable.
<PAGE> 32
Exhibit 6-B
Page 32 of 32
(f) Successor Laws, Regulations, and Agencies. Reference herein to laws,
regulations, or agencies shall be deemed to include all amendments thereof,
substitutions therefor, and successors thereto.
ARTICLE IX
AMENDMENTS
Section 1. These By-laws may be altered, amended, or repealed or new
By-laws may be adopted by the stockholders or by the Board of Directors, when
such power is conferred upon the Board of Directors by the Articles of
Incorporation, at any regular meeting of the stockholders or of the Board of
Directors or at any special meeting of the stockholders or of the Board of
Directors if notice of such alteration, amendment, repeal, or adoption of new
By-laws be contained in the notice of such special meeting.
<PAGE> 1
Exhibit 7-B
Page 1 of 6
BY-LAW NO. 1
A by-law relating generally to the transaction of the
business and affairs of
758117 ALBERTA LTD.
(hereinafter referred to as the "Corporation")
DIRECTORS
1. Calling of and notice of meetings - Meetings of
the board shall be held at such time and on such day as
the chairman of the board, president or a
vice-president, if any, or any two directors may
determine. Notice of meetings of the board shall be
given to each director not less than forty-eight hours
before the time when the meeting is to be held. Each
newly elected board may without notice hold its first
meeting for the purposes of organization and the
election and appointment of officers immediately
following the meeting of shareholders at which such
board was elected, provided a quorum of directors be
present.
2. Votes to govern - At all meetings of the board
every question shall be decided by a majority of the
votes cast on the question; and in case of an equality
of votes the chairman of the meeting shall be entitled
to a second or casting vote.
3. Quorum - Subject to the articles, a majority of
the number of directors holding office from time to time
constitutes a quorum at any meeting of directors, and
notwithstanding any vacancy among the directors, a
quorum of directors may exercise all the powers of the
directors.
4. Interest of directors and officers generally in
contracts - No director or officer shall be disqualified
by his office from contracting with the Corporation nor
shall any contract or arrangement entered into by or on
behalf of the Corporation with any director or officer
or in which any director or officer is in any way
interested be liable to be voided nor shall any director
or officer so contracting or being so interested be
liable to account to the Corporation for any profit
realized by any such contract or arrangement by reason
of such director or officer holding that office or of
the fiduciary relationship thereby established;
provided that the director or officer shall have
<PAGE> 2
Exhibit 7-B
Page 2 of 6
complied with the provisions of the Business
Corporations Act.
MEETINGS BY TELEPHONE
5. Directors and Shareholders - A director may
participate in a meeting of the board or of a committee
of the board and a shareholder may participate in a
meeting of shareholders by means of telephone or other
communication facilities that permit all persons
participating in any such meeting to hear each other.
INDEMNIFICATION
6. Indemnification of directors and officers - The
Corporation shall indemnify a director or officer of the
Corporation, a former director or officer of the
Corporation or a person who acts or acted at the
Corporation's request as a director or officer of a body
corporate of which the Corporation is or was a
shareholder or creditor, and his heirs and legal
representatives to the extent permitted by the Business
Corporations Act.
7. Indemnity of others - Except as otherwise
required by the Business Corporations Act and subject to
paragraph 6, the Corporation may from time to time
indemnify and save harmless any person who was or is a
party or is threatened to be made a party to any
threatened, pending or completed action, suit or
proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right
of the Corporation) by reason of the fact that he is or
was an employee or agent of the Corporation, or is or
was serving at the request of the Corporation as a
director, officer, employee, agent of or participant in
another corporation, partnership, joint venture, trust
or other enterprise, against expenses (including legal
fees), judgments, fines and any amount actually and
reasonably incurred by him in connection with such
action, suit or proceeding if he acted honestly and in
good faith with a view to the best interests of the
Corporation, and with respect to any criminal or
administrative action or proceeding that is enforced by
a monetary penalty, had reasonable grounds for believing
that his conduct was lawful. The termination of any
action, suit or proceeding by judgment, order,
settlement or conviction, shall not, of itself, create a
presumption that the person did not act honestly and in
good faith with a view to the best interests of the
Corporation, and, with respect to any criminal or
administrative action or proceeding that is enforced by
a monetary penalty, had no reasonable grounds for
believing that his conduct was lawful.
<PAGE> 3
Exhibit 7-B
Page 3 of 6
8. Right of indemnity not exclusive - The provisions
for indemnification contained in the by-laws of the
Corporation shall not be deemed exclusive of any other
rights to which those seeking indemnification may be
entitled under any by-law, agreement, vote of
shareholders or disinterested directors or otherwise,
both as to action in his official capacity and as to
action in another capacity while holding such office,
and shall continue as to a person who has ceased to be a
director, officer, employee or agent and shall inure to
the benefit of the heirs, executors and administrators
of such a person.
9. No liability of directors or officers for certain
acts, etc. - To the extent permitted by law, no
director or officer for the time being of the
Corporation shall be liable for the acts, receipts,
neglects or defaults of any other director or officer or
employee or for joining in any receipt or act for
conformity or for any loss, damage or expense happening
to the Corporation through the insufficiency or
deficiency of title to any property acquired by the
Corporation or for or on behalf of the Corporation or
for the insufficiency or deficiency of any security in
or upon which any of the moneys of or belonging to the
Corporation shall be placed out or invested or for any
loss or damage arising from the bankruptcy, insolvency
or tortious act of any person, firm or corporation with
whom or which any moneys, securities or effects shall be
lodged or deposited or for any loss, conversion,
misapplication or misappropriation of or any damage
resulting from any dealings with any moneys, securities
or other assets belonging to the Corporation or for any
other loss, damage or misfortune whatever which may
happen in the execution of the duties of his respective
office or trust or in relation thereto unless the same
shall happen by or through his failure to act honestly
and in good faith with a view to the best interests of
the Corporation and in connection therewith to exercise
the care, diligence and skill that a reasonably prudent
person would exercise in comparable circumstances. If
any director or officer of the Corporation shall be
employed by or shall perform services for the
Corporation otherwise than as a director or officer or
shall be a member of a firm or a shareholder, director
or officer of a company which is employed by or performs
services for the Corporation, the fact of his being a
director or officer of the Corporation shall not
disentitle such director or officer or such firm or
company, as the case may be, from receiving proper
remuneration for such services.
BANKING ARRANGEMENTS, CONTRACTS, ETC.
<PAGE> 4
Exhibit 7-B
Page 4 of 6
10. Banking arrangements - The banking business of
the Corporation, or any part thereof, shall be
transacted with such banks, trust companies or other
financial institutions as the board may designate,
appoint or authorize from time to time by resolution and
all such banking business, or any part thereof, shall be
transacted on the Corporation's behalf by such one or
more officers and/or other persons as the board may
designate, direct or authorize from time to time by
resolution and to the extent therein provided.
11. Execution of instruments - Contracts, documents
or instruments in writing requiring execution by the
Corporation may be signed by any director or officer,
and all contracts, documents or instruments in writing
so signed shall be binding upon the Corporation without
any further authorization or formality. The board of
directors is authorized from time to time by resolution
to appoint any officer or officers or any other person
or persons on behalf of the Corporation to sign and
deliver either contracts, documents or instruments in
writing generally or to sign either manually or by
facsimile signature and deliver specific contracts,
documents or instruments in writing. The term
"contracts, documents or instruments in writing" as used
in this by-law shall include share certificates,
warrants, bonds, debentures or other securities or
security instruments of the Corporation, deeds,
mortgages, charges, conveyances, transfers and
assignments of property of all kinds including
specifically but without limitation transfers and
assignments of shares, warrants, bonds, debentures or
other securities and all paper writings.
12. Voting Rights in Other Bodies Corporate - The
signing officers of the Corporation may execute and
deliver proxies and arrange for the issuance of voting
certificates or other evidence of the right to exercise
the voting rights attaching to any securities held by
the Corporation. Such instruments shall be in favour of
such persons as may be determined by the officers
executing or arranging for the same. In addition, the
board may from time to time direct the manner in which
and the persons by whom any particular voting rights or
class of voting rights may or shall be exercised.
MISCELLANEOUS
13. Invalidity of any provisions of this by-law - The
invalidity or unenforceability of any provision of this
by-law shall not affect the validity or enforceability
of the remaining provisions of this by-law.
<PAGE> 5
Exhibit 7-B
Page 5 of 6
INTERPRETATION
14 In this by-law and all other by-laws of the
Corporation words importing the singular number only
shall include the plural and vice versa; words importing
the masculine gender shall include the feminine and
neuter genders; words importing persons shall include an
individual, partnership, association, body corporate,
executor, administrator or legal representative and any
number or aggregate of persons; "articles" include the
original or restated articles of incorporation, articles
of amendment, articles of amalgamation, articles of
continuance, articles of reorganization, articles of
arrangement and articles of revival and includes an
amendment to any of them; "board" shall mean the board
of directors of the Corporation; "Business Corporations
Act" shall mean the Business Corporations Act, Revised
Statutes of Alberta 1981, Chapter B-15 as amended from
time to time or any Act that may hereafter be
substituted therefor; "meeting of shareholders" shall
mean and include an annual meeting of shareholders and a
special meeting of shareholders of the Corporation; and
"signing officers" means any person authorized to sign
on behalf of the Corporation by or pursuant to paragraph
11.
MADE the 12th day of December, 1997.
(Signed) "Clifford D. Johnson"
CLIFFORD D. JOHNSON
RESOLVED: that the sole director of 758117 ALBERTA LTD.
does hereby make the foregoing By-law No. 1 a by-law of
the said Corporation.
The undersigned, being the sole director of 758117
ALBERTA LTD. (the "Corporation"), hereby signs, pursuant
to Section 112(1) of the Business Corporations Act
(Alberta), the foregoing resolution making By-law No. 1
a by-law of the said Corporation.
MADE the 12th day of December, 1997.
(Signed) "Clifford D. Johnson"
CLIFFORD D. JOHNSON
<PAGE> 6
Exhibit 7-B
Page 6 of 6
RESOLVED: that the foregoing By-law No. l of the
by-laws of 758117 ALBERTA LTD. be and it is hereby
confirmed.
The undersigned, being the sole shareholder of 758117
ALBERTA LTD. (the "Corporation"), hereby signs, pursuant
to Section 136(1)(a) of the Business Corporations Act
(Alberta), the foregoing resolution confirming By-law
No. l of the said Corporation.
MADE the 12th day of December, 1997.
(Signed) "Clifford D. Johnson"
CLIFFORD D. JOHNSON
<PAGE> 1
Exhibit 8-B
Page 1 of 20
Columbia Energy Telecommunications Company
*****
BY-LAWS
*****
ARTICLE I
OFFICES
Section 1. The registered office shall be in the City of
Wilmington, County of New Castle, State of Delaware.
Section 2. The corporation may also have offices at such other
places both within and without the State of Delaware as the board of directors
may from time to time determine or the business of the corporation may require.
ARTICLE II
MEETINGS OF STOCKHOLDERS
Section 1. All meetings of the stockholders for the election of
directors shall be held, either within or without the State of Delaware as
shall be designed from time to time by the board of directors and stated in the
notice of the meeting. Meetings of stockholders for any other purpose may be
held at such time and place, within or without the State of Delaware, as shall
be stated in the notice of the meeting or in a duly executed waiver of notice
thereof.
Section 2. Annual meetings of stockholders commencing with the
year 1998, shall be held on the first Monday in the month of June if not a
legal holiday, and if a legal
<PAGE> 2
Exhibit 8-B
Page 2 of 20
holiday, then on the next secular day following, at 10:00 A.M., or at such
other date and time as shall be designated from time to time by the board of
directors and stated in the notice of the meeting, at which they shall elect by
a plurality vote a board of directors, and transact such other business as may
properly be brought before the meeting.
Section 3. Written notice of the annual meeting stating the
place, date and hour of the meeting shall be given to each stockholder entitled
to vote at such meeting not less than ten (10) nor more than sixty (60) days
before the date of the meeting.
Section 4. The officer who has charge of the stock ledger of the
corporation shall prepare and make, at least ten days before each meeting of
stockholders, a complete list of the stockholders entitled to vote at the
meeting, arranged in alphabetical order, and showing the address of such
stockholder and the number of shares registered in the name of each
stockholder. Such list shall be open to the examination of any stockholder,
for any purpose germane to the meeting, during ordinary business hours, for a
period of at least ten days prior to the meeting, either at a place within the
city where the meeting is to be held, which place shall be specified in the
notice of the meeting, or, if not so specified, at the place where the meeting
is to be held. The list shall also be produced and kept at the time and place
of the meeting during the whole time thereof, and may be inspected by any
stockholder who is present.
Section 5. Special meetings of the stockholders, for any purpose
or purposes, unless otherwise prescribed by statute or by the certificate of
incorporation, may be called by the president and shall be called by the
president or secretary at the request in writing of stockholders owning a
majority in amount of the entire capital stock of the corporation
<PAGE> 3
Exhibit 8-B
Page 3 of 20
issued and outstanding and entitled to vote. Such request shall state the
purpose or purposes of the proposed meeting.
Section 6. Written notice of a special meeting stating the
place, date and hour of the meeting and the purpose for which the meeting is
called, shall be given not less than ten (10) nor more than sixty (60) days
before the date of the meeting, to each stockholder entitled to vote at such
meeting.
Section 7. Business transacted at any special meeting of
stockholders shall be limited to the purposes stated in the notice.
Section 8. The holders of majority of the stock issued and
outstanding and entitled to vote thereat, present in person or represented by
proxy, shall constitute a quorum at all meetings of the stockholders for the
transaction of business except as otherwise provided by statute or by the
certificate of incorporation. If, however, such quorum shall not be present
or represented at any meeting of the stockholders, the stockholders entitled to
vote thereat, present in person or represented by proxy, shall have power to
adjourn the meeting from time to time, without notice other than announcement
at the meeting, until a quorum shall be present or represented. At such
adjourned meeting at which a quorum shall be present or represented any
business may be transacted which might have been transacted at the meeting as
originally notified. If the adjournment is for more than thirty days, or if
after the adjournment a new record date is fixed for the adjourned meeting, a
notice of the adjourned meeting shall be given to each stockholder of record
entitled to vote at the meeting.
Section 9. When a quorum is present at any meeting, the vote of
the holders of a majority of the stock having voting power present in person or
represented by proxy
<PAGE> 4
Exhibit 8-B
Page 4 of 20
shall decide any question brought before such meeting, unless the question is
one upon which by express provision of the statutes or of the certificate of
incorporation, a different vote is required in which case such express
provision shall govern and control the decision of such question.
Section 10. Unless otherwise provided in the certificate of
incorporation each stockholder shall at every meeting of the stockholders be
entitled to vote in person or by proxy for each share of the capital stock
having voting power held by each stockholder, but no proxy shall be voted on
after three years from its date, unless the proxy provides for a longer period.
At all elections of directors of the corporation each stockholder
having voting power shall be entitled to exercise the right of cumulative
voting as provided in the certificate of incorporation.
Section II. Unless otherwise provided in the certificate of
incorporation, any action required to be taken at any annual or special meeting
of stockholders of the corporation, or any action which may be taken at any
annual or special meeting of such stockholders, may be taken without a meeting,
without prior notice and without a vote, if a consent in writing, setting forth
the action so taken, shall be signed by the holders of outstanding stock having
not less than the minimum number of votes that would be necessary to authorize
or take such action at a meeting at which all shares entitled to vote thereon
were present and voted. Prompt notice of the taking of the corporate action
without a meeting by less than unanimous written consent shall be given to
those stockholders who have not consented in writing.
<PAGE> 5
Exhibit 8-B
Page 5 of 20
ARTICLE III
DIRECTORS
Section 1. The number of directors which shall constitute the
whole board shall be not less than one (1) year nor more than five (5). The
first board shall consist of three (3) directors. Thereafter, within the
limits above specified, the number of directors shall be determined by
resolution of the board of directors or by the stockholders at the annual
meeting. The directors shall be elected at the annual meeting of the
stockholders, except as provided in Section 2 of this Article, and each
director elected shall hold office until his successor is elected and
qualified. Directors need not be stockholders.
Section 2. Vacancies and newly created directorships resulting from
any increase in the authorized number of directors may be filled by a majority
of the directors then in office, though less than a quorum, or by a sole
remaining director, and the directors so chosen shall hold office until the
next annual election and until their successors are duly elected and shall
qualify, unless sooner displaced. If there are no directors in office, then
an election of directors may be held in the manner provided by statute. If, at
the time of filling any vacancy or any newly created directorship, the
directors then in office shall constitute less than a majority of the whole
board (as constituted immediately prior to any such increase), the Court of
Chancery may, upon application of any stockholder or stockholders holding at
least ten percent of the total number of the shares at the time outstanding
having the right to vote for such directors, summarily order an election to be
held to fill any such vacancies or newly created directorships, or to replace
the directors chosen by the directors then in office.
<PAGE> 6
Exhibit 8-B
Page 6 of 20
Section 3. The business of the corporation shall be managed by
or under the direction of its board of directors which may exercise all such
powers of the corporation and do all such lawful acts and things as are not by
statute or by the certificate of incorporation or by these by-laws directed or
required to be exercised or done by the stockholders.
Section 2. Vacancies and newly created directorships resulting
from any increase in the authorized number of directors may be filled by a
majority of the directors then in office, though less than a quorum, or by a
sole remaining director, and the directors so chosen shall hold office until
the next annual election and until their successors are duly elected and shall
qualify, unless sooner displaced. If there are no directors in office, then
an election of directors may be held in the manner provided by statute. If,
at the time of filling any vacancy or any newly created directorship, the
directors then in office shall constitute less than a majority of the whole
board (as constituted immediately prior to any such increase), the Court of
Chancery may, upon application of any stockholder or stockholders holding at
least ten percent of the total number of the shares at the time outstanding
having the right to vote for such directors, summarily order an election to be
held to fill any such vacancies or newly created directorships, or to replace
the directors chosen by the directors then in office.
Section 3. The business of the corporation shall be managed by or
under the direction of its board of directors which may exercise all such
powers of the corporation and do all such lawful acts and things as are not by
statute or by the certificate of incorporation or by these by-laws directed or
required to be exercised or done by the stockholders.
<PAGE> 7
Exhibit 8-B
Page 7 of 20
MEETINGS OF THE BOARD OF DIRECTORS
Section 4. The board of directors of the corporation may hold
meetings, both regular and special, either within or without the State of
Delaware.
Section 5. The first meeting of each newly elected board of directors
shall be held at such time and place as shall be fixed by the vote of the
stockholders at the annual meeting and no notice of such meeting shall be
necessary to the newly elected directors in order legally to constitute the
meeting, provided a quorum shall be present. In the event of the failure of
the stockholders to fix the time or place of such first meeting of the newly
elected board of directors, or in the event such meeting is not held at the
time and place as shall be specified in a notice given as hereinafter provided
for special meetings of the board of directors, or as shall be specified in a
written waiver signed by all of the directors.
Section 6. Regular meetings of the board of directors may be held
without notice at such time and at such place as shall from time to time be
determined by the board.
Section 7. Special meetings of the board may be called by the
president on ten (10) days' notice to each director, either personally or by
mail or by telegram; special meetings shall be called by the president or
secretary in like manner and on like notice on the written request of two
directors unless the board consists of only one director; in which case special
meetings shall be called by the president or secretary in like manner and on
like notice on the written request of the sole director.
Section 8. At all meetings of the board majority of the directors
shall constitute a quorum for the transaction of business and the act of a
majority of the directors present at
<PAGE> 8
Exhibit 8-B
Page 8 of 20
any meeting at which there is a quorum shall be the act of the board of
directors, except as may be otherwise specifically provided by statute or by
the certificate of incorporation. If a quorum shall not be present at any
meeting of the board of directors, the directors present thereat may adjourn
the meeting from time to time, without notice other than announcement at the
meeting, until a quorum shall be present.
Section 9. Unless otherwise restricted by the certificate of
incorporation or these by-laws, any action required or permitted to be taken at
any meeting of the board of directors or of any committee thereof may be taken
without a meeting, if all members of the board or committee, as the case may
be, consent thereto in writing, and the writing or writings are filed with the
minutes of proceedings of the board or committee.
Section 10. Unless otherwise restricted by the certificate of
incorporation or these by-laws, members of the board of directors, or any
committee designated by the board of directors, may participate in a meeting of
the board of directors, or any committee, by means of conference telephone or
similar communications equipment by means of which all persons participating in
the meeting can hear each other, and such participation in a meeting shall
constitute presence in person at the meeting.
COMMITTEES OF DIRECTORS
Section 11. The board of directors may, by resolution passed by a
majority of the whole board, designate one or more committees, each committee
to consist of one or more of the directors of the corporation. The board may
designate one or more directors as alternate members of any committee, who may
replace any absent or disqualified member at any meeting of the committee.
<PAGE> 9
Exhibit 8-B
Page 9 of 20
In the absence or disqualification of a member of a committee, the
member or members thereof present at any meeting and not disqualified from
voting, whether or not he or they constitute a quorum, may unanimously appoint
another member of the board of directors to act at the meeting in the place of
any such absent or disqualified member.
Any such committee, to the extent provided in the resolution of the
board of directors, shall have and may exercise all the power and authority of
the board of directors in the management of the business and affairs of the
corporation, and may authorize the seal of the corporation to be affixed to all
papers which may require it; but no such committee shall have the power or
authority in reference to amending the certificate of incorporation (except
that a committee may, to the extent authorized in the resolution or resolutions
providing for the issuance of shares of stock adopted by the board of directors
as provided in Section 151(a) fix any of the preferences or rights of such
shares relating to dividends, redemption, dissolution, any distribution of
assets of the corporation or the conversion into, or the exchange of such
shares for, shares of any other class or classes or any other series of the
same or any other class or classes of stock of the corporation) adopting an
agreement of merger or consolidation, recommending to the stockholders the
sale, lease or exchange of all or substantially all of the corporation's
property and assets, recommending to the stockholders a dissolution of the
corporation or a revocation of a dissolution, or amending the by-laws of the
corporation; and, unless the resolution or the certificate of incorporation
expressly so provide, no such committee shall have the power or authority to
declare a dividend or to authorize the issuance of stock or to adopt a
certificate of ownership and merger. Such committee or committees
<PAGE> 10
Exhibit 8-B
Page 10 of 20
shall have such name or names as may be determined from time to time by
resolution adopted by the board of directors.
Section 12. Each committee shall keep regular minutes of its meetings
and report the same to the board of directors when required.
COMPENSATION OF DIRECTORS
Section 13. Unless otherwise restricted by the certificate of
incorporation or these by-laws, the board of directors shall have the authority
to fix the compensation of directors. The directors may be paid their
expenses, if any, of attendance at each meeting of the board of directors and
may be paid a fixed sum for attendance at each meeting of the board of
directors or a stated salary as director. No such payment shall preclude any
director from serving the corporation in any other capacity and receiving
compensation therefor. Members of special or standing committees may be
allowed like compensation for attending committee meetings.
REMOVAL OF DIRECTORS
Section 14. Unless otherwise restricted by the certificate of
incorporation or by law, any director or the entire board of directors may be
removed, with or without cause, by the holders of a majority of shares entitled
to vote at an election of directors.
ARTICLE IV
NOTICES
<PAGE> 11
Exhibit 8-B
Page 11 of 20
Section 1. Whenever, under the provisions of the statutes or of the
certificate of incorporation or of these by-laws, notice is required to be
given to any director or stockholder, it shall not be construed to mean
personal notice, by such notice may be given in writing, by mail, addressed to
such director or stockholder, at his address as it appears on the records of
the corporation, with postage thereon prepaid, and such notice shall be deemed
to be given at the time when the same shall be deposited in the United States
mail. Notice to directors may also be given by telegram.
Section 2. Whenever any notice is required to be given under the
provisions of the statutes or of the certificate of incorporation or of these
by-laws, a waiver thereof in writing, signed by the person or persons entitled
to said notice, whether before or after the time stated therein, shall be
deemed equivalent thereto.
ARTICLE V
OFFICERS
Section 1. The officers of the corporation shall be chosen by the
board of directors and shall be a president, a vice-president a secretary and a
treasurer. The board of directors may also choose additional vice-presidents,
and one or more assistant secretaries and assistant treasurers. Any number of
offices may be held by the same person, unless the certificate of incorporation
or these by-laws otherwise provide.
Section 2. The board of directors at its first meeting after each
annual meeting of stockholders shall choose a president, one or more
vice-presidents, a secretary and a treasurer.
<PAGE> 12
Exhibit 8-B
Page 12 of 20
Section 3. The board of directors may appoint such other officers and
agents as it shall deem necessary who shall hold their offices for such terms
and shall exercise such powers and perform such duties as shall be determined
from time to time by the board.
Section 4. The salaries of all officers and agents of the corporation
shall be fixed by the board of directors.
Section 5. The officers of the corporation shall hold office until
their successors are chosen and qualify. Any officer elected or appointed by
the board of directors may be removed at any time by the affirmative vote of a
majority of the board of directors. Any vacancy occurring in any office of the
corporation shall be filled by the board of directors.
THE PRESIDENT
Section 6. The president shall be the chief executive officer of the
corporation, shall preside at all meetings of the stockholders and the board of
directors, shall have general and active management of the business of the
corporation and shall see that all orders and resolutions of the board of
directors are carried into effect.
Section 7. He shall execute bonds, mortgages and other contracts
requiring a seal, under the seal of the corporation, except where required or
permitted by law to be otherwise signed and executed and except where the
signing and execution thereof shall be expressly delegated by the board of
directors to some other officer or agent of the corporation.
<PAGE> 13
Exhibit 8-B
Page 13 of 20
THE VICE-PRESIDENTS
Section 8. In the absence of the president or in the event of his
inability or refusal to act, the vice-president (or in the event there be more
than one vice-president, the vice-presidents in the order designated by the
directors, or in the absence of any designation, then in the order of their
election) shall perform the duties of the president, and when so acting, shall
have all the powers of and be subject to all the restrictions upon the
president. The vice-presidents shall perform such other duties and have such
other powers as the board of directors may from time to time prescribe.
THE SECRETARY AND ASSISTANT SECRETARY
Section 9. The secretary shall attend all meetings of the board of
directors and all meetings of the stockholders and record all the proceedings
of the meetings of the corporation and of the board of directors in a book to
be kept for that purpose and shall perform like duties for the standing
committees when required. He shall give, or cause to be given, notice of all
meetings of the stockholders and special meetings of the board of directors,
and shall perform such other duties as may be prescribed by the board of
directors or president, under whose supervision he shall be. He shall have
custody of the corporate seal of the corporation and he, or an assistant
secretary, shall have authority to affix the same to any instrument requiring
it and when so affixed, it may be attested by his signature or by the signature
of such assistant secretary. The board of directors may give general authority
to any other officer to affix the sale of the corporation and to attest the
affixing by his signature.
<PAGE> 14
Exhibit 8-B
Page 14 of 20
Section 10. The assistant secretary, or if there be more than one,
the assistant secretaries in the order determined by the board of directors (or
if there be no such determination, then in the order of their election) shall,
in the absence of the secretary or in the event of his inability or refusal to
act, perform the duties and exercise the powers of the secretary and shall
perform such other duties and have such other powers as the board of directors
may from time to time prescribe.
THE TREASURER AND ASSISTANT TREASURERS
Section 11. The treasurer shall have the custody of the corporate
funds and securities and shall keep full and accurate accounts of receipts and
disbursements in books belonging to the corporation and shall deposit al moneys
and other valuable effects in the name and to the credit of the corporation in
such depositories as may be designated by the board of directors.
Section 12. He shall disburse the funds of the corporation as may be
ordered by the board of directors, taking proper vouchers for such
disbursements, and shall render to the president and the board of directors, at
its regular meetings, or when the board of directors so requires, an account of
all his transactions as treasurer and of the financial condition of the
corporation.
Section 13. If required by the board of directors, he shall give the
corporation a bond (which shall be renewed every six years) in such sum and
with such surety or sureties as shall be satisfactory to the board of directors
for the faithful performance of the duties of his office and for the
restoration to the corporation in case of his death, resignation, retirement or
removal from office, of all books, papers, vouchers, money and
<PAGE> 15
Exhibit 8-B
Page 15 of 20
other property of whatever kind in his possession or under his control
belonging to the corporation.
Section 14. The assistant treasurer, or if there shall be more than
one, the assistant treasurers in the order determined by the board of directors
(or if there be no such determination, then in the order of their election)
shall, in the absence of the treasurer or in the event of his inability or
refusal to act, perform the duties and exercise the powers of the treasurer and
shall perform such other duties and have such other powers as the board of
directors may from time to time prescribe.
ARTICLE VI
CERTIFICATES FOR SHARES
Section 1. The shares of the corporation shall be represented by a
certificate or shall be uncertificated. Certificates shall be signed by, or in
the name of the corporation by, the chairman or vice-chairman of the board of
directors, or the president or a vice-president, and by the treasurer or an
assistant treasurer, or the secretary or an assistant secretary of the
corporation.
Within a reasonable time after the issuance or transfer of
uncertificated stock, the corporation shall send to the registered owner
thereof a written notice containing the information required to be set forth or
stated on certificates pursuant to Sections 151, 156, 202(a) or 218(a) or a
statement that the corporation will furnish without charge to each stockholder
who so requests the powers, designations, preferences and relative
participating, optional or other special rights of each class of stock or
series thereof and the qualifications, limitations or restrictions of such
preferences and/or rights.
<PAGE> 16
Exhibit 8-B
Page 16 of 20
Section 2. Any of or all the signatures on a certificate may be
facsimile. In case any officer, transfer agent or registrar who has signed or
whose facsimile signature has been placed upon a certificate shall have ceased
to be such officer, transfer agent or registrar before such certificate is
issued, it may be issued by the corporation with the same effect as if he were
such officer, transfer agent or registrar at the date of issue.
LOST CERTIFICATES
Section 3. The board of directors may direct a new certificate or
certificates or uncertificated shares to be issued in place of any certificate
or certificates theretofore issued by the corporation alleged to have been
lost, stolen or destroyed, upon the making of an affidavit of that fact by the
person claiming the certificate of stock to be lost, stolen or destroyed. When
authorizing such issue of a new certificate or certificates or uncertificated
shares, the board of directors may, in its discretion and as a condition
precedent to the issuance thereof, require the owner of such lost, stolen or
destroyed certificate or certificates, or his legal representative, to
advertise the same in such manner as it shall require and/or to give the
corporation a bond in such sum as it may direct as indemnity against any claim
that may be made against the corporation with respect to the certificate
alleged to have been lost, stolen or destroyed.
TRANSFER OF STOCK
Section 4. Upon surrender to the corporation or the transfer agent of
the corporation of a certificate for shares duly endorsed or accompanied by
proper evidence of succession, assignation or authority to transfer, it shall
be the duty of the corporation to
<PAGE> 17
Exhibit 8-B
Page 17 of 20
issue a new certificate to the person entitled thereto, cancel the old
certificate and record the transaction upon its books. Upon receipt of proper
transfer instructions from the registered owner of uncertificated shares such
uncertificated shares shall be cancelled and issuance of new equivalent
uncertificated shares or certificated shares shall be made to the person
entitled thereto and the transaction shall be recorded upon the books of the
corporation.
FIXING RECORD DATE
Section 5. In order that the corporation may determine the
stockholders entitled to notice of or to vote at any meeting of stockholders or
any adjournment thereof, or to express consent to corporate action in writing
without a meeting, or entitled to receive payment of any dividend or other
distribution or allotment of any rights, or entitled to exercise any rights in
respect of any change, conversion or exchange of stock or for the purpose of
any other lawful action, the board of directors may fix, in advance, a record
date, which shall not be more than sixty nor less than ten days before the date
of such meeting, nor more than sixty days prior to any other action. A
determination of stockholders of record entitled to notice of or to vote at a
meeting of stockholders shall apply to any adjournment of the meeting:
provided, however, that the board of directors may fix a new record date for
the adjourned meeting.
<PAGE> 18
Exhibit 8-B
Page 18 of 20
REGISTERED STOCKHOLDERS
Section 6. The corporation shall be entitled to recognize the
exclusive right of a person registered on its books as the owner of shares to
receive dividends, and to vote as such owner, and to hold liable for calls and
assessments a person registered on its books as the owner of shares, and shall
not be bound to recognize any equitable or other claim to or interest in such
share or shares on the part of any other person, whether or not it shall have
express or other notice thereof, except as otherwise provided by the laws of
Delaware.
ARTICLE VII
GENERAL PROVISIONS
DIVIDENDS
Section 1. Dividends upon the capital stock of the corporation,
subject to the provisions of the certificate of incorporation, if any, may be
declared by the board of directors at any regular or special meeting, pursuant
to law. Dividends may be paid in cash, in property, or in shares of the
capital stock, subject to the provisions of the certificate of incorporation.
Section 2. Before payment of any dividend, there may be set aside out
of any funds of the corporation available for dividends such sum or sums as the
directors from time to time, in their absolute discretion, think proper as a
reserve or reserves to meet contingencies, or for equalizing dividends, or for
repairing or maintaining any property of the corporation, or for such other
purpose as the directors shall think conducive to the
<PAGE> 19
Exhibit 8-B
Page 19 of 20
interest of the corporation, and the directors may modify or abolish any such
reserve in the manner in which it was created.
ANNUAL STATEMENT
Section 3. The board of directors shall present at each annual
meeting, and at any special meeting of the stockholders when called for by vote
of the stockholders, a full and clear statement of the business and condition
of the corporation.
CHECKS
Section 4. All checks or demands for money and notes of the
corporation shall be signed by such officer or officers or such other person or
persons as the board of directors may from time to time designate.
FISCAL YEAR
Section 5. The fiscal year of the corporation shall be fixed by
resolution of the board of directors.
SEAL
Section 6. The corporate seal shall have inscribed thereon the name
of the corporation, the year of its organization and the words "Corporate Seal,
Delaware". The seal may be used by causing it or a facsimile thereof to be
impressed or affixed or reproduced or otherwise.
<PAGE> 20
Exhibit 8-B
Page 20 of 20
INDEMNIFICATION
Section 7. The corporation shall indemnify its officers, directors,
employees and agents to the extent permitted by the General Corporation Law of
Delaware.
ARTICLE VIII
AMENDMENTS
Section 1. These by-laws may be altered, amended or repealed or new
by-laws may be adopted by the stockholders or by the board of directors, when
such power is conferred upon the board of directors by the certificate of
incorporation at any regular meeting of the stockholders or of the board of
directors or at any special meeting of the stockholders or of the board of
directors if notice of such alteration, amendment, repeal or adoption of new
by-laws be contained in the notice of such special meeting. If the power to
adopt, amend or repeal by-laws is conferred upon the board of directors by the
certificate of incorporation, it shall not divest or limit the power of the
stockholders to adopt, amend or repeal by-laws.
<PAGE> 1
Exhibit D
Page 1 of 5
AGREEMENT FOR FILING CONSOLIDATED
FEDERAL INCOME TAX RETURN AND FOR
ALLOCATION OF LIABILITIES AND BENEFITS
ARISING FROM SUCH CONSOLIDATED
TAX RETURN BETWEEN
COLUMBIA ENERGY GROUP
AND SUBSIDIARY COMPANIES
The following members of Columbia Energy Group, affiliated group of
corporations as described in Section 1504 of the Internal Revenue Code hereby
authorize their common parent corporation, Columbia Energy Group, to make and
file a consolidated federal income tax return on behalf of the group.
<TABLE>
<CAPTION>
Federal
Employer
Identification
Name and Address Number
- -------------------------------------------------------------------------------- --------------
<S> <C>
Columbia Energy Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13-1594808
Columbia Atlantic Trading Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0122560
Columbia Energy Group Service Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13-1596081
Columbia LNG Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-0808682
CLNG Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0363075
Columbia Insurance Corporation, LTD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54-1846993
Columbia Energy Group Capital Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0331685
TriStar Gas Technologies, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0331689
Columbia Transmission Communications Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54-1911918
Columbia Network Services Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55-0752155
CNS Microwave, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55-0753507
Columbia Pipeline Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0385015
Columbia Deep Water Services Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54-1878331
13880 Dulles Corner Lane
Herndon, VA 20171
Columbia Electric Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55-0647910
Columbia Electric Pedrick General Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0314105
TriStar Fuel Cells Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0324211
Columbia Electric Binghamton General Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0324212
TriStar Georgetown General Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0324214
TriStar Georgetown Limited Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0324215
Columbia Electric Vineland General Corporation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0324217
Columbia Electric Liberty Corporation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0324221
Columbia Electric Gregory General Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54-1898607
Columbia Electric Gregory Limited Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0381438
Columbia Electric Gregory Member Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0381443
13880 Dulles Corner Lane
Herndon, VA 20171
</TABLE>
<PAGE> 2
Exhibit D
Page 2 of 5
<TABLE>
<S> <C>
Columbia Electric Pedrick Limited Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0314565
Columbia Electric Binghamton Limited Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0324213
Columbia Electric Vineland Limited Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0324218
Columbia Electric Rumford Limited Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0324219
Columbia Electric Limited Holdings Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0324220
Columbia Electric Gregory Remington Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0381442
222 Delaware Avenue
Wilmington, DE 19801-1621
Columbia Gas of Kentucky, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55-0139565
Columbia Gas of Maryland, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25-1093185
Columbia Gas of Ohio, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-0673990
Columbia Gas of Pennsylvania, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25-1100252
Columbia Gas of Virginia, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54-0344210
200 Civic Center Drive
Columbus, OH 43215
Columbia Gulf Transmission Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74-1321143
Columbia Gas Transmission Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-0802435
12801 Fair Lakes Parkway
Fairfax, VA 22030
Columbia Propane Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61-0565214
9200 Arboretum Parkway, Suite 140
Richmond, VA 23236
Columbia Energy Resources, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0384486
300 Delaware Avenue
Wilmington, DE 19801-1612
Columbia Natural Resources, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52-1383102
Alamco, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55-0615701
Hawg Hauling and Disposal, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55-0723936
Alamco - Delaware, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0356489
Columbia Natural Resources Canada Ltd. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55-0765517
900 Pennsylvania Avenue
Charleston, WV 25302
Columbia Energy Services Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61-0573109
Columbia Energy Marketing Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25-1770943
Columbia Service Partners, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25-1787891
Columbia Energy Power Marketing Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76-0553975
Energy.com Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54-1878300
13880 Dulles Corner Lane
Herndon, VA 20171
</TABLE>
<PAGE> 3
Exhibit D
Page 3 of 5
The parties hereby agree to allocate liabilities and benefits arising from such
consolidated return in the manner prescribed below which is consistent with
Rule 45(c) of the Public Utility Holding Company Act of 1935:
(1) Definitions:
"Consolidated tax" is the aggregate current U.S. federal income tax
liability for a tax year, being the tax shown on the consolidated
federal income tax return and any adjustments thereto which are
thereafter determined. If, because of a consolidated net operating
loss, investment tax credit, carrybacks, etc., a refund is due, the
consolidated tax for the current year will be that refund.
"Separate return tax" is the tax on the corporate taxable income or
capital of a company including the effect of any particular feature of
the tax law, differences in tax rates, investment tax credits, etc.,
applicable to it. Separate return tax may be either positive or
negative.
(2) The consolidated tax shall be apportioned among the members of the
group utilizing the "separate return tax" method in the manner
prescribed below:
(a) Intercompany eliminations recorded by consolidation entries
which affect the consolidated tax will be assigned to the
appropriate member necessitating the intercompany elimination
for the purpose of computing separate return tax.
(b) With the exception of the parent corporation, each member of
the group having negative separate return tax will receive
current payment in an amount equal to such negative separate
return tax if that member has sufficient taxable income in
the carryback period to utilize its negative separate return
tax. A member of the group that cannot utilize its negative
separate return tax on a stand alone basis either in the
current period or the permitted carryback period will not
receive payment for their negative separate return tax until
that member generates sufficient taxable income to utilize
its losses. The benefits of the negative separate return tax
not utilized currently by the member will serve to reduce the
tax payment obligation of the positive separate return tax
members. The positive separate return tax member will record
a liability to the parent corporation for this reduction. The
parent corporation will record a liability for the negative
separate return tax to the loss member. Members with a
negative separate return tax will not participate in the
allocation of the parent corporation loss, if applicable, for
that year.
If, because of carryback or other restrictions, the aggregate
of all negative separate return taxes is not entirely usable
in the current year's return, the portion which is usable
will be apportioned among the members having negative
separate return tax in proportion thereto.
<PAGE> 4
Exhibit D
Page 4 of 5
(c) Any parent corporation gain or loss realized from its sale of
its interest in subsidiaries' securities will be assigned to
parent corporation and will not be allocated to other
members. All other parent corporation negative separate
return tax will be allocated currently to positive separate
return tax members on the ratio of their positive separate
return tax to the total positive separate return tax.
(d) Each member of the group, after intercompany eliminations,
having positive separate return tax will pay an amount equal
to its proportionate share of the consolidated tax liability
to members having negative separate return tax, for which the
separate return loss was utilized to offset consolidated
taxable income, based on the ratio of its separate return tax
to the total of the separate return taxes of members having
positive separate return tax, assuming such loss companies
meet the carryback requirement of sub-section (b) above.
(3) Carryover and other rights, if any, accrued under past regulations and
orders for which a member company has not been paid shall be accounted
for as follows: Each such member generating such benefits shall
receive payment to the earliest year in which statutory carryover
periods have not expired. Payment will be received, following
execution of this agreement, from the companies which benefited from
the prior deductions in the same ratios initially used to distribute
such benefits.
(4) In the event the consolidated return reflects a net operating loss or
excess investment tax credit and cannot be totally carried back, the
tax benefit of such net operating loss or excess shall be allowed as a
carryover to future years. In the event they cannot be fully utilized
on a consolidated basis, a proportionate allocation under Section (2)
will be made. If and when the tax benefits are realizable on a
consolidated basis in a subsequent year, such tax benefits shall be
allocated to the members originally denied such benefits in the year
the items were generated.
(5) In the event the consolidated tax is subsequently materially revised
by amended returns, interim payments or refunds, or, in any event, by
a final determination, such changes shall be allocated in the same
manner as though the adjustments on which they are based had formed
part of the original consolidated return. The tax effect of negotiated
adjustments which do not include an item-by-item modification of the
return shall be allocated in accordance with Section (2)(d) of this
agreement or, considering all the facts and circumstances, under such
other method as may be determined to be more fair and equitable.
(6) No subsidiary company, as a result of the method of allocation
described herein, shall be required to pay more tax than its separate
return tax as defined in Section (1).
<PAGE> 5
Exhibit D
Page 5 of 5
(7) Any current state income tax liability or benefit associated with a
state income tax return or franchise tax return involving more than
one member shall be allocated to such subsidiaries doing business in
such state based on their separate return liabilities and other
principles set forth herein.
No member is to be allocated a state tax which is greater than its
state tax liability had it filed a separate return, including the
carryback/carryforward period . All available credits are to be
allocated to the member generating the credit prior to the allocation
of the System tax liability if available on a separate return basis.
Similar to section 2(b) for federal income taxes, a member of the
group that cannot utilize its negative separate return tax on a stand
alone basis either in the current period or permitted carryback period
will not receive payment for their negative separate return tax until
that member generates sufficient taxable income to utilize its losses.
In the event the consolidated state income tax liability for any year
is redetermined subsequent to the allocation of the consolidated tax
liability reported for that tax year, the redetermined tax liability
shall be allocated pursuant to this Agreement as if the adjustments
and modifications related to this determination had been a part of the
original return. Any interest or penalties associated with
underpayment or overpayment of tax shall be allocated based on the
allocation of the underlying underpayment or overpayment of tax.
(8) This agreement shall apply to the consolidated federal and state
income tax returns to be filed for the calendar year 1996 and all
subsequent years unless subsequently amended. In the case of
unexpected events, including changes in the tax laws which may require
modifications to the agreement, amendment to this agreement shall be
conditioned on approval by the Securities and Exchange Commission.
Pursuant to the requirements of the Public Utility Holding Company Act
of 1935, the undersigned, duly authorized, have signed this agreement
on behalf of the company(s) indicated.
By:
----------------------------
DATE: December 31, 1998
---------------------
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 1
<NAME> CEG
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 4,095,500
<OTHER-PROPERTY-AND-INVEST> 615,800
<TOTAL-CURRENT-ASSETS> 1,780,500
<TOTAL-DEFERRED-CHARGES> 85,500
<OTHER-ASSETS> 391,400
<TOTAL-ASSETS> 6,968,700
<COMMON> 835,100
<CAPITAL-SURPLUS-PAID-IN> 761,800
<RETAINED-EARNINGS> 409,500
<TOTAL-COMMON-STOCKHOLDERS-EQ> 2,005,300
0
0
<LONG-TERM-DEBT-NET> 2,003,100
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 144,800
<LONG-TERM-DEBT-CURRENT-PORT> 400
0
<CAPITAL-LEASE-OBLIGATIONS> 3,100
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 2,960,300
<TOT-CAPITALIZATION-AND-LIAB> 6,968,700
<GROSS-OPERATING-REVENUE> 6,568,200
<INCOME-TAX-EXPENSE> 131,800
<OTHER-OPERATING-EXPENSES> 6,028,200
<TOTAL-OPERATING-EXPENSES> 6,028,200
<OPERATING-INCOME-LOSS> 540,000
<OTHER-INCOME-NET> 13,400
<INCOME-BEFORE-INTEREST-EXPEN> 553,400
<TOTAL-INTEREST-EXPENSE> 152,400
<NET-INCOME> 269,200
0
<EARNINGS-AVAILABLE-FOR-COMM> 269,200
<COMMON-STOCK-DIVIDENDS> 63,900
<TOTAL-INTEREST-ON-BONDS> 140,400
<CASH-FLOW-OPERATIONS> 761,700
<EPS-PRIMARY> 3.23
<EPS-DILUTED> 3.21
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 1
<NAME> CKY
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 120,100
<OTHER-PROPERTY-AND-INVEST> 0
<TOTAL-CURRENT-ASSETS> 48,100
<TOTAL-DEFERRED-CHARGES> 600
<OTHER-ASSETS> 7,400
<TOTAL-ASSETS> 176,200
<COMMON> 23,800
<CAPITAL-SURPLUS-PAID-IN> 200
<RETAINED-EARNINGS> 45,100
<TOTAL-COMMON-STOCKHOLDERS-EQ> 69,100
0
0
<LONG-TERM-DEBT-NET> 200
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 200
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 106,900
<TOT-CAPITALIZATION-AND-LIAB> 176,200
<GROSS-OPERATING-REVENUE> 146,100
<INCOME-TAX-EXPENSE> 5,100
<OTHER-OPERATING-EXPENSES> 123,700
<TOTAL-OPERATING-EXPENSES> 123,700
<OPERATING-INCOME-LOSS> 22,400
<OTHER-INCOME-NET> 700
<INCOME-BEFORE-INTEREST-EXPEN> 23,100
<TOTAL-INTEREST-EXPENSE> 4,500
<NET-INCOME> 13,500
0
<EARNINGS-AVAILABLE-FOR-COMM> 13,500
<COMMON-STOCK-DIVIDENDS> 0
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 34,400
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 1
<NAME> COH
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 772,500
<OTHER-PROPERTY-AND-INVEST> 0
<TOTAL-CURRENT-ASSETS> 502,200
<TOTAL-DEFERRED-CHARGES> 12,400
<OTHER-ASSETS> 108,300
<TOTAL-ASSETS> 1,395,400
<COMMON> 119,200
<CAPITAL-SURPLUS-PAID-IN> 0
<RETAINED-EARNINGS> 316,400
<TOTAL-COMMON-STOCKHOLDERS-EQ> 435,600
0
0
<LONG-TERM-DEBT-NET> 2,000
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 100
0
<CAPITAL-LEASE-OBLIGATIONS> 2,000
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 957,800
<TOT-CAPITALIZATION-AND-LIAB> 1,395,400
<GROSS-OPERATING-REVENUE> 1,098,500
<INCOME-TAX-EXPENSE> 32,400
<OTHER-OPERATING-EXPENSES> 979,400
<TOTAL-OPERATING-EXPENSES> 979,400
<OPERATING-INCOME-LOSS> 119,100
<OTHER-INCOME-NET> 1,300
<INCOME-BEFORE-INTEREST-EXPEN> 120,400
<TOTAL-INTEREST-EXPENSE> 29,100
<NET-INCOME> 58,900
0
<EARNINGS-AVAILABLE-FOR-COMM> 58,900
<COMMON-STOCK-DIVIDENDS> 0
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 170,700
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 1
<NAME> CMD
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 45,000
<OTHER-PROPERTY-AND-INVEST> 0
<TOTAL-CURRENT-ASSETS> 16,600
<TOTAL-DEFERRED-CHARGES> 200
<OTHER-ASSETS> 2,900
<TOTAL-ASSETS> 64,700
<COMMON> 100
<CAPITAL-SURPLUS-PAID-IN> 10,000
<RETAINED-EARNINGS> 13,200
<TOTAL-COMMON-STOCKHOLDERS-EQ> 23,300
0
0
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0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
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0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
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<NAME> CGT
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<TABLE> <S> <C>
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0
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0
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