Alliant Energy Receives Brazil Arbitration Decision

		Alliant Energy is the parent company of two public utility companies--Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL)--and of Alliant Energy Resources, Inc. (AER), the parent company of Alliant Energy's non-regulated operations. (PRNewsFoto) MADISON, WI USA

MADISON, Wis., Sept. 27 /PRNewswire-FirstCall/ -- Alliant Energy Corporation (NYSE: LNT) announced today the International Chamber of Commerce's International Court of Arbitration unanimously found that Companhia Forca e Luz Cataguazes-Leopoldina, S.A. (Cataguazes), and its controlling shareholders, breached their shareholders' agreement with Alliant Energy Holdings do Brasil Ltda (AEHB). The arbitral tribunal determined that AEHB is entitled to restitution, including interest, in an amount in local currency equivalent to approximately US$8.4 million. (Logo: http://www.newscom.com/cgi-bin/prnh/20020405/LNTLOGO ) "We are pleased that the tribunal has agreed with our claim that the Cataguazes' controlling shareholders abused their management control of the company," said William D. Harvey, President and Chief Executive Officer of Alliant Energy, "but are disappointed that the they chose to decide on only a portion of our claims and to limit the amount of actual damages. We will seek enforcement of the award through the Brazilian court system." According to the tribunal's decision, Cataguazes and its majority shareholders "manifestly ignored the fundamental rights" of AEHB under the shareholders' agreement, and in doing so "they have destroyed the relationship of trust that is at the very root" of that agreement. "The award should enhance the prospects for reaching a complete and final resolution of our differences with our partners which is, and has been, a condition precedent to our realizing value from our investments in Brazil," said Harvey. "We expect that settlement discussions will now proceed and are hopeful resolution of our differences will occur shortly." Alliant Energy can re-file its significantly larger arbitration claims against Cataguazes and its controlling shareholders under separate (but virtually identical) shareholder agreements governing Cataguazes' subsidiaries. Alliant Energy filed the request for arbitration with the International Court of Arbitration in January 2004 to resolve an ongoing dispute with its Brazilian partners regarding controlling costs and reducing debt. Alliant Energy Corporation is an energy-services provider with subsidiaries serving more than three million customers. Providing its customers in the Midwest with regulated electricity and natural gas service remains the company's primary focus. Alliant Energy's domestic utility subsidiaries, Interstate Power and Light and Wisconsin Power and Light, serve 982,000 electric and 416,000 natural gas customers. Other business platforms include the international energy market and non-regulated domestic generation. Alliant Energy, headquartered in Madison, Wis., is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT. For more information, visit the company's Web site at http://www.alliantenergy.com .