Allegheny Energy subsidiary completes sale of interest in Conemaugh Generating Station for $51.25 million

HAGERSTOWN, Md., June 30, 2003 — Allegheny Energy Inc. announced that Allegheny Energy Supply Conemaugh, LLC, a subsidiary of Allegheny Energy Supply Company, LLC, has completed the previously announced sale of its 83-MW share of the coal-fired Conemaugh Generating Station, located near Johnstown, Pa., to UGI Development Co., an indirect, wholly owned subsidiary of UGI Corp., for approximately $51.25 million, which includes a contingent amount of $5 million.