Peoples Energy Announces Extension of Share Exchange

Apr 23, 2001, 01:00 ET from Peoples Energy Corporation

    CHICAGO, April 23 /PRNewswire Interactive News Release/ -- Peoples Energy
 Corporation (NYSE:   PGL) announced today that it has extended to 5:00 p.m.,
 EST, on April 30, 2001 its offer to exchange up to $325,000,000 of new
 6.90% Notes due January 15, 2011, Series A, which have been registered for
 public trading, for a like amount of outstanding notes which were originally
 sold under Rule 144A.  As of 5:00 p.m. EST, April 23, 2001, the original
 expiration deadline, approximately $255,595,000 of the notes had been tendered
 for exchange.
     The Exchange Agent for the exchange offer is Bank One Trust Company,
 National Association, 1 Bank Plaza, Suite IL 1-0134, Chicago, Illinois
 60670-0134, (312) 336-9774.
 
     Peoples Energy is a diversified energy company comprised of five primary
 business segments: Gas Distribution, Power Generation, Midstream Services,
 Retail Energy Services, and Oil and Gas Production.  The Gas Distribution
 business serves about 1 million retail customers in Chicago and northeastern
 Illinois.  Visit the Peoples Energy web site at PeoplesEnergy.com.
 
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                http://tbutton.prnewswire.com/prn/11690X65218255
 
 

SOURCE Peoples Energy Corporation
    CHICAGO, April 23 /PRNewswire Interactive News Release/ -- Peoples Energy
 Corporation (NYSE:   PGL) announced today that it has extended to 5:00 p.m.,
 EST, on April 30, 2001 its offer to exchange up to $325,000,000 of new
 6.90% Notes due January 15, 2011, Series A, which have been registered for
 public trading, for a like amount of outstanding notes which were originally
 sold under Rule 144A.  As of 5:00 p.m. EST, April 23, 2001, the original
 expiration deadline, approximately $255,595,000 of the notes had been tendered
 for exchange.
     The Exchange Agent for the exchange offer is Bank One Trust Company,
 National Association, 1 Bank Plaza, Suite IL 1-0134, Chicago, Illinois
 60670-0134, (312) 336-9774.
 
     Peoples Energy is a diversified energy company comprised of five primary
 business segments: Gas Distribution, Power Generation, Midstream Services,
 Retail Energy Services, and Oil and Gas Production.  The Gas Distribution
 business serves about 1 million retail customers in Chicago and northeastern
 Illinois.  Visit the Peoples Energy web site at PeoplesEnergy.com.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X65218255
 
 SOURCE  Peoples Energy Corporation