SOURCE: NEAH

November 19, 2010 09:13 ET

Blackstone Bid for Dynegy a Distraction: Newco Energy Acquisition Holdings, LLC and Karl W. Miller Believe Shareholder Focus Clearly on Gaining Control of Company Through Shareholder Consents and Turning the Company Around

NEW YORK, NY and WILMINGTON, NC--(Marketwire - November 19, 2010) - Newco Energy Acquisition Holdings (NEAH), LLC and Senior Energy Industry Executive Karl W. Miller believe Dynegy shareholder focus is on gaining control through shareholder consents and promptly restructuring the Company.

The Blackstone Group bid is now just a distraction. Company value has been established to be well in excess of $5 per share.

Shareholder focus is now on replacing senior management and the Board of Directors, retaining key operational personnel, implementing a credible and earnings accretive growth plan, putting in place new supporting capital facilities to support growth and acquisitions, planning to retire excess debt at discounts to face value, and planning to negotiate the extension of remaining debt maturities, while sharing some of the cash savings with shareholders though a modest special dividend, among many other critical tasks. Once completed, Dynegy credibility in the energy sector and capital markets will be re-established, which will enable the Company to grow and prosper.

While now a distraction, the restructuring of Dynegy, Inc. can only take place once the majority of shareholders veto the proposed sale of the Company to affiliates of Blackstone.

Disclaimer: The views expressed are those of NEAH and Mr. Miller. No capital or shareholder agreements or other arrangements are in place, NEAH and Mr. Miller are not soliciting capital or shareholder votes, and do not intend to file a Proxy. No offering memorandums or other solicitation documents have been distributed. NEAH and Mr. Miller have provided their combined opinion in open disclosure to all parties that Dynegy Inc. Shareholders have credible alternatives to build an earnings accretive energy company. Investors should seek the advice of a qualified investment professional prior to making any investment decisions.

About Mr. Miller:

Background about Mr. Miller may be found at the following weblink:

http://www.linkedin.com/profile/edit?id=35847711&trk=hb_tab_pro_top