---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/07/2000 
12:27 PM ---------------------------


"Webmaster@cera.com" <webmaster on 12/08/99 04:37:03 PM
To: undisclosed-recipients:;
cc:  (bcc: Vince J Kaminski/HOU/ECT)
Subject: CERA Multimedia Presentation: December 8, 1999




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CERA Multimedia Presentation Replay Now Available!
Wednesday, December 08, 1999
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Title: The Merger and Acquisition Dilemma
Author: North American Power Team
E-Mail Category: Conference Call, Multimedia
Product Line: North American Electric Power

URL: http://www.cera.com/client/nap/media.cfm

There is a merger and acquisition dilemma facing the power industry today.
The fact that no clear-cut winning strategy has emerged makes the dilemma
more difficult to resolve. In a December 1 CERA North American Power client
conference call and web presentation, Paul Parshley, CERA Director,
discusses:

*  The long term strategy and short term returns of M&A: What does it mean
for multi-service providers, super-regional provides and the global power
and energy companies?

*  The M&A wave continues: Is it better to be near the front of the pack and
embark on an unproven and risky strategic option and hope for the best, or
to wait until strategic options are better understood and run the risk of
missing the best opportunities?

*  Stock prices of recently merged or acquired companies: Is Warren Buffet
right about the power industry?

To view and listen to a replay of this presentation (an example of a new
technology we are using), please click on the link above.

**end**

Follow URL for complete report.
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