Exhibit I
SECURITIES AND EXCHANGE COMMISSION
(RELEASE NO. 35- -----------); 70-8937
GPU, Inc., a registered holding company, and GPU Service, Inc., 300
Madison Avenue, Morristown, New Jersey 07960, and GPU International, Inc., One
Upper Pond Road, Parsippany, New Jersey 07054, have filed with the Commission a
post-effective amendment to their Declaration on Form U-1 in SEC File No.
70-8937 pursuant to Sections 6(a), 7, 9(a), 10 and 12(b) of the Public Utility
Holding Company Act of 1935 ("Act") and Rules 45 and 54 thereunder.
By orders dated April 10, 1997 (HCAR No. 26702) and March 26, 1997
(HCAR No. 26694) (the "Orders"), the Commission, among other things, authorized
GPU, through December 31, 2000, to guarantee the debt of each of their direct
and indirect subsidiaries that engage in brokering and marketing of electricity,
natural gas and other energy commodities throughout the United States ("Energy
Subsidiaries") pursuant to Rule 58 under the Act. The guarantees may take the
form of bid bonds or performance or other direct or indirect guarantees of
contractual or other obligations. The maximum amount of debt and other
obligations proposed to be guaranteed at any one time is $150 million.
The Orders also authorize GPU and GPUI to invest, through December
31, 2000, in the aggregate no more than $20 million in the energy commodities
business either by the acquisition of securities or by making capital
contributions to existing subsidiaries of GPU and/or GPUI.
GPU and GPUI now request an extension of time during which GPU may
guarantee the debt of the Energy Subsidiaries and GPU and GPUI may invest in the
energy commodities business until December 31, 2003.
In all other respects, the transactions as heretofore authorized by
the Commission in this docket would remain unchanged.
The Declaration, as amended, is available for public inspection
through the Commission's Office of Public Reference. Interested persons wishing
to comment or request a hearing should submit their views in writing by
----------------, 2000 to the Secretary, Securities and Exchange Commission,
Washington, D.C. 20549, and serve a copy on the applicant at the address
specified above. Proof of service (by affidavit, or in case of an attorney at
law, by certificate) should be filed with the request. Any
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request for a hearing shall identify specifically the issues of fact or law that
are disputed. A person who so requests will be notified of any hearing, if
ordered, and will receive a copy of any notice or order issued in this matter.
After said date, the Declaration, as amended, may be permitted to become
effective.
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