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Wisconsin Energy Corporation
231 West Michigan, P.O. Box 2949
Milwaukee, WI 53201
To Participants in the Stock Plus Investment Plan:
Prospectus Supplement dated May 31, 1996
to Prospectus dated May 16, 1995 (the "Prospectus")
of Wisconsin Energy Corporation (the "Company")
Relating to the Company's
Stock Plus Investment Plan (the "Plan")
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The Stock Plus Investment Plan provides stockholders and other investors with
a simple and convenient method of purchasing shares of Common Stock of the
Company at market prices, without brokerage commission or other expense.
As an additional service to stockholders of the Company, effective June 1,
1996, beneficial owners whose shares of Company Common Stock are registered in
"street name" with a bank, broker, trustee or other nominee may arrange,
through such bank, broker, trustee or other nominee, to have their cash
dividends reinvested through the major depositories' dividend reinvestment
service to purchase additional shares of Company Common Stock. Beneficial
holders of any shares of Preferred Stock of the Company or Wisconsin Electric
Power Company, the Company's utility subsidiary, which may be outstanding from
time to time are also eligible to utilize this feature so as to have their
cash dividends reinvested in shares of Company Common Stock. If for any
reason beneficial "street name" owners are unable to arrange for dividend
reinvestment with their bank, broker, trustee or other nominee, such
beneficial owners could elect to participate directly in the Plan by
requesting that their shares be registered in their own name and by completing
a simple enrollment form. See "The Plan--Enrollment" in the Prospectus.
Additionally, in order to reduce costs and streamline the administration of
the Plan, effective June 1, 1996, the Company will begin the phase-out of
optional cash investments made through employee payroll deductions. The
phase-out will be completed as soon as practicable. Employees of the Company
or its subsidiaries who are participants in the Plan are encouraged to
participate in the Automatic Investment option if they wish to continue to
make regular monthly cash investments in Company Common Stock. See "The Plan-
- -Cash Investments" in the Prospectus.
Wisconsin Energy Stockholders Hotline 1-800-558-9663
