SOURCE: NEAH

November 15, 2010 11:30 ET

Newco Energy Acquisition Holdings, LLC and Karl W. Miller Advise Dynegy Shareholder Decision Is Very Straightforward -- Vote "No" to a "Short Sale" to Blackstone Group; Dynegy Has a Future Under New Management as a Growth Company

NEW YORK, NY and WILMINGTON, NC--(Marketwire - November 15, 2010) - Newco Energy Acquisition Holdings (NEAH), LLC and Senior Energy Industry Executive Karl W. Miller today announced that they believe the decision Dynegy shareholders face is very straightforward; a "No" vote to a "Short Sale" to Blackstone Group is a vote by shareholders to change management and the board of directors, and turn Dynegy into what it should be, a growth orientated energy acquisition and asset management company.

NEAH and Mr. Miller are not currently affiliated with any insiders including Dynegy management or board of directors, not affiliated with the Blackstone Group, not affiliated with Seneca, and not affiliated with the Icahn Group, and thus provide a non-biased, third party objective set of opinions and market views on the potential to grow Dynegy, as opposed to liquidating the Company on a "Short Sale" equivalent basis to the Blackstone Group.

Mr. Miller, a senior energy industry executive who has built, restructured and managed energy businesses in the U.S., Europe and Asia, has stated his position on numerous occasions that Dynegy has a bright future with the implementation of an earnings accretive growth plan, installing a senior energy management team that can execute on such a growth plan, and addition of the appropriate capital support.

Mr. Miller's opinion is that should shareholders veto the Blackstone Group bid, new management of Dynegy will determine the best sources and uses of additional equity and debt facilities on an independent basis and would not be tied to any specific group, which will be their fiduciary duty. Mr. Miller has advised shareholders and the market in full disclosure that Dynegy requires a complement of independent qualified directors on a new board in addition to qualified management and to facilitate that process would consider such a role under the appropriate terms and conditions, most importantly the majority consent of shareholders. 

NEAH and Mr. Miller have "no axe to grind" in market terms with any of the current participants involved in the current struggle regarding Dynegy and have openly commended Seneca and the Icahn Group for offering alternatives to a "short sale." However, Mr. Miller takes specific issue with the continued browbeating and degradation of the power, natural gas and coal markets by Dynegy management and Blackstone Group, just to support their argument that Dynegy should be sold on a "Short Sale" basis. The sky is not falling, will never fall in the energy sector and this line of negativity should be ceased by all parties.

There is no doubt the energy industry is cyclical, but qualified management understand how to manage and grow in downward cycles by taking advantage of the weakness in market. There is more than ample capital on the sidelines which would like to go to work with and support qualified management in the energy sector. Capital follows qualified management.

Accordingly, NEAH and Mr. Miller posted the following presentations for public interest: "US Energy Market Investment Opportunities" at web link: http://slidesha.re/bRp1GP and; "Building an Earnings Accretive Energy Business" at web link: http://slidesha.re/8Yw66E; "Expanding A Growth Focused Power Generation Company" for public interest at the following web link: http://slidesha.re/cq6u1i to demonstrate that there are robust opportunities to build and expand an earnings accretive energy Company in the North America.

Mr. Miller continues to subscribe to the simple business philosophy that "when you are explaining, you are losing." Shareholders are seeking the installment of a new Board of Directors, CEO and complementary executive team who will execute of an earnings accretive business plan for all shareholders of Dynegy

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