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FOR IMMEDIATE RELEASE: Thursday, July 25, 1996
HOUSTON -- Enron Corp. (NYSE - ENE) announced today that it may purchase up to an aggregate of $15 million worth of Portland General Corporation (NYSE - PGN) common stock (valued in accordance with applicable Hart-Scott-Rodino limitations) in open market transactions from time to time. Enron and Portland General recently announced their intention to merge in a transaction in which each Portland General common share would be converted into one Enron common share, subject to shareholder approval and satisfaction of regulatory and other conditions. The closing price of the Enron common stock on the New York Stock Exchange yesterday was $40.25 and Portland General common stock closed at $36.
Enron Corp., one of the world's largest integrated natural gas companies with approximately $13 billion in assets, operates the largest natural gas transmission system in the Western Hemisphere and the second largest system in the world; is the largest purchaser and marketer of natural gas and the largest non-regulated marketer of electricity in North America; produces and markets natural gas liquids worldwide; owns 59 percent of Enron Oil & Gas Company, one of the largest independent (non-integrated) exploration and production companies in the United States; owns 59 percent of Enron Global Power & Pipelines L.L.C., which is owner and manager of operating power plants and natural gas pipelines around the world; and is one of the largest independent developers and producers of electricity in the world. Enron Corp. is traded under the ticker symbol, "ENE."
For additional information please contact:
Diane Bazelides
(713) 853-6285
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