Rule 424(b)(5)
File No. 333-32433
PRICING SUPPLEMENT NO. 20, dated May 13, 1999
(To Prospectus dated August 22, 1997)
DQE, INC.
1,200 Shares
Preferred Stock, Series A (Convertible)
($100 Liquidation Preference Per Share)
DATE OF ISSUANCE: May 13, 1999.
DIVIDEND RATE: 4.0%.
SCHEDULED CALL DATE: June 1, 2005.
REDEMPTION
Limitation. By virtue of the limitation described under
"DESCRIPTION OF CAPITAL STOCK -- Preferred Stock -- Redemption --
Limitation" in the accompanying Prospectus and under current law,
DQE will not have any right to redeem or any obligation to redeem
any shares of Series A Preferred Stock described in this Pricing
Supplement.
CONVERSION
Mandatory Conversion. Each share of Series A Preferred
Stock described in this Pricing Supplement which is not converted
into Conversion Securities prior to the Scheduled Call Date will
be converted automatically into Conversion Securities on the
Scheduled Call Date.
CERTAIN FEDERAL INCOME TAX CONSIDERATIONS
Persons considering any transaction pursuant to which they
will receive shares of Series A Preferred Stock should consult
their tax advisors with respect to the application of the United
States federal income tax laws to their particular situations as
well as any tax consequences arising under the laws of any state,
local or foreign taxing jurisdiction.
DQE, INC.
As reported in DQE's Current Report on Form 8-K dated
October 5, 1998, which is incorporated herein by reference, on
that date DQE terminated the merger agreement with Allegheny
Power System, Inc. (now known as Allegheny Energy, Inc.) referred
to in the Prospectus.
