PSI Energy president named Assistant Energy Secretary

CINCINNATI, Ohio, March 27, 2001 — Cinergy Corp. today congratulated Vicky A. Bailey, president of its PSI Energy, Inc. subsidiary, on her nomination by President George W. Bush as Assistant Secretary for International Affairs and Domestic Policy of the U.S. Department of Energy.

“We are very pleased that the President has chosen Vicky for this important assignment,” said James E. Rogers, chairman, president and chief executive officer of Cinergy. “While we hate to lose her, we also know that this is an honor that she cannot pass up.”

“Secretary Abraham is gaining a key player for his management team with Vicky’s extensive knowledge of federal and state energy issues. We are confident that she will do an excellent job in helping form a strong national energy policy at this critical point in time,” he added.

A search for a replacement for Bailey as president of PSI will begin immediately. She joined Cinergy in February 2000 after serving on the Federal Energy Regulatory Commission and the Indiana Utility Regulatory Commission.

Vicky A. Bailey

President, PSI Energy, Inc.
Vicky A. Bailey is president of PSI Energy, Inc., Indiana’s largest electric supplier and the Indiana operating company of Cinergy Corp. She joined PSI in February 2000 and was previously a commissioner at the Federal Energy Regulatory Commission. She was nominated to the commission by President Clinton on May 10, 1993, for a term ending June 30, 1996.

She was renominated by President Clinton on June 10, 1996 and confirmed by the Senate on June 26, 1996.

Ms. Bailey also was a member of the Executive and Electricity committees of the National Association of Regulatory Utility Commissioners (NARUC). She was the NARUC representative to the North America Electric Reliability Council’s (NERC) Board of Trustees. She was active with the Mid-American Regulatory Commissioners Conference and on the Executive Committee of the Great Lakes Conference. Ms. Bailey is a participant in the Keystone Center Energy Project and the Harvard Electricity Policy Group.

She served for seven years as a commissioner on the Indiana Utility Regulatory Commission. She was originally appointed to the Indiana Commission in June 1986 by Governor Robert D. Orr and was reappointed by Governor Evan Bayh. While at the Indiana Commission she was actively involved in efforts to balance and mitigate the impact on states of the Clean Air Act Amendments of 1990 and the Energy Policy Act of 1992.

Prior to her appointment to the Indiana Commission she was vice president for Administration of the J. Bailey Company, a forty-year old family-owned business; assistant admissions officer at the Indiana University School of Medicine; and promotions director of the Owens-Illinois, Inc. Glass Container Division, Alton, Illinois.

Born in Indianapolis, Indiana, she holds a bachelor of science degree from the Krannert School of Management at Purdue University, West Lafayette, Indiana. She did post-graduate work at Indiana University of Indianapolis. She received the Indiana Sagamores of the Wabash awards from Governor Orr and Governor Bayh.