SOURCE: NEAH

February 22, 2011 11:34 ET

Newco Energy Acquisition Holdings (NEAH), LLC and Senior Energy Industry Executive Karl W. Miller Today Reaffirmed Their Support for Dynegy, Inc.; Offer to Help Transition Company

NEW YORK, NY--(Marketwire - February 22, 2011) - Newco Energy Acquisition Holdings (NEAH), LLC and Senior Energy Industry Executive Karl W. Miller today reaffirmed their support for Dynegy, Inc. as a Going Concern Public Company and offer to assist in transitioning the Company for growth.

Mr. Miller posted several high level presentations for public review and 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 as a guideline for investor consideration regarding building an energy growth company during past year.

NEAH and Mr. Miller Re-Affirm Their Prior Opinions:

  • There is a clear, credible and superior alternative which is to install a new Board of Directors, CEO and management team to grow Dynegy and create shareholder value.

  • Mr. Miller has advised Dynegy shareholders that he would consider taking a Board position and potentially the interim CEO role under appropriate terms and conditions, and subject to the majority approval of Dynegy shareholders.

  • There is no future in the past. Now is the time to look forward and make meaningful and decisive changes to transform Dynegy. Capital follows qualified management who can execute on earnings accretive business plans.

  • Dynegy has the potential be a premier growth platform in the power generation and energy sector with additional capital support, the right management team and Board of Directors. Mr. Miller has continuously opined that the current market environment presents a unique and optimal opportunity to leverage senior executive energy backgrounds, skills, and experiences to acquire and invest in energy assets and companies that will generate strong returns at substantial discounts. 

  • Dynegy shareholders want to be inspired, invested in a profitable growth company and follow the leadership of seasoned, experienced and energetic senior energy executives with the support of a Board of Directors with similar characteristics.

  • New institutional shareholders must be supportive of either providing or facilitating "new capital facilities" to grow the Company, or arranging external financing in conjunction with New Management Team and Board of Directors.

  • Dynegy shareholders have real capital at risk, irrespective of when they became shareholders, and irrespective of how many shares of stock they have purchased and sold. Dynegy, Inc. is a public company and its common stock if fungible currency, just like any other investment.

Mr. Miller subscribes 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.

The most important task at hand it to appoint a Board of Directors and Executive Management team whose interests are aligned with shareholders, re-establish Dynegy, Inc. operating credibility in the U.S. marketplace, re-establish the Company's credibility in the capital markets which will enable the Company to grow and prosper.

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