As previously announced, Southern Electric International has been exploring the possible sale of a minority interest in
Southern Investments - UK, the holding company for South Western Electricity (SWEB).
Southern Electric has, in fact, received a number of proposals over the past few months, including one from Power Markets
Development Company (PMDC), a subsidiary of PP&L Resources. In response to PMDCs proposal, Southern Electric
has been discussing with PMDC a potential investment in Southern Investments - UK. No agreement has been concluded to
sell part of Southern Investments - UK to PMDC or any other party.
Should a purchase be completed, Southern Electric, which traditionally includes other investors in its international holdings,
intends to maintain majority ownership and management control of Southern Investments - UK and SWEB.
Southern Electric, a unit of The Southern Company, develops, builds, owns and operates power production and delivery
facilities and provides a broad range of technical services to utilities and industrial companies in the U.S. and international
The Southern Company (NYSE: SO) is also the parent firm of five electric utilities: Alabama Power, Georgia Power, Gulf
Power, Mississippi Power and Savannah Electric. Other subsidiaries include Southern Nuclear, Southern Communications
Services, Southern Development and Investment Group and Southern Company Services.
The Southern Company, based in Atlanta, is the largest producer of electricity in the United States. The Southern
Companys common stock is one of the 20 most widely held corporate stocks in America.