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Public Svc Enterprises

The Public Service Enterprise was created in 1903, by merging more than 400 gas, electric and transportation companies in New Jersey. Today, Public Service Enterprise Group is a publicly traded diversified energy company, with 2004 annual revenues of about 11 billion dollars. Public Service Enterprise Group ranks number 176 on the Fortune 500 list for 2004. It’s a publicly traded company having a good stock performance result. Public Svc Enterprise is trading under PEG.

Public Service Enterprise Group reported third quarter Income from continuing operations of 260 million dollars or 1.06 dollars per diluted share of common stock based on 244 million average shares outstanding. Including charges of 7 million dollars or 3 cents per share related to discontinue operations at Public Service Enterprise Group Power’s Waterford facility, PSEG reported Net Income of 253 million dollars or 1.03 dollars per share. Income from Continuing Operations includes merger related costs of 10 million dollars or 4 cents per share for the quarter. Excluding merger related costs, adjusted Operating Earnings for the third quarter of 2005 were 270 million dollars or 1.10 dollars per share of common stock. Comparable Income from Continuing Operations for the third quarter of 2004 was 252 million dollars or 1.06 dollars per share, based on 238 million average shares outstanding.

Public Service Enterprise Group is providing 2006 earnings guidance of 3.45 dollars to 3.75 dollars per share. This represents a 10percent improvement over the 2005 guidance and is ambitious largely by the higher energy prices and the cost efficiency of the Public Service Enterprise Group nuclear and coal fleet. With the level of expected output and prices they’ve termed up and expect that power will be a major contributor to the increased earnings from 2005 to 2006.

Public Svc Enterprises is devoted to identifying and seizing prospects in energy services and related fields, while maintaining its high level of gas and electric service to its traditional residential and business customers.

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