Dynegy Names Michael Flinn President, Dynegy Europe

Feb. 22, 2002

  HOUSTON--(BUSINESS WIRE)--Feb. 21, 2002--Dynegy Inc. (NYSE:DYN) today announced that Michael E. Flinn, previously senior vice president of marketing and origination for the Wholesale Energy Network division, has been named president of Dynegy Europe Limited, the company's European business unit.
    Effective March 1, Flinn will oversee all business and development activities in Europe, including marketing, transportation, logistics, and risk management for its European customer base. He will report to Dynegy President and Chief Operating Officer Steve Bergstrom.
    Flinn has more than 18 years of commercial experience in the energy industry. He joined Dynegy in 1992 and has held positions of increasing responsibility in marketing, trading, risk management and transportation of gas, liquids, power and liquefied natural gas (LNG). Most recently, he has managed Dynegy's global gas business and has been responsible for developing the company's LNG strategy. Prior to joining Dynegy, he held various commercial roles in the U.S. energy industry.
    Flinn replaces former Dynegy Europe President Gary Cardone, who recently announced his retirement after 15 years with Dynegy.
    Through Dynegy Europe, Dynegy has been an active participant in UK energy markets since 1994 when it became a leading player in the development of a liberalized natural gas market. In 1999, Dynegy Europe entered the UK and NordPool electricity markets. With offices in Switzerland, Holland, Italy and Spain, Dynegy Europe is one of Europe's largest energy marketers and traders and is a significant participant in the communications marketplace.
    Dynegy recently acquired BG Storage Limited's natural gas storage facilities and related assets in the United Kingdom. Now known as Dynegy Storage, the company's UK storage network has a total capacity of 111 billion cubic feet and consists of 30 wells with five offshore platforms, nine salt caverns, 19 miles of pipeline, and an onshore natural gas processing terminal.
    Dynegy Inc. is one of the world's premier energy merchants. Through its global energy delivery network and marketing, logistics and risk management capabilities, Dynegy provides innovative solutions to customers in North America, the United Kingdom and Continental Europe. The company's website is www.dynegy.com.

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