Interstate Power and Light Company Successfully Closes Transmission Assets Sale With ITC Midwest

Interstate Power and Light Company Successfully Closes Transmission Assets Sale With ITC Midwest

		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/ALLIANT ENERGY CORPORATION) MADISON, WI UNITED STATES

Company transfers 6,800 miles of transmission lines and related assets to independent transmission company CEDAR RAPIDS, Iowa, Dec. 20 /PRNewswire-FirstCall/ -- Interstate Power and Light Company (IPL), a subsidiary of Alliant Energy Corporation (NYSE: LNT) announced today that the company has successfully closed the sale transaction of its transmission assets to ITC Midwest LLC (ITC Midwest), a subsidiary of ITC Holdings Corp. (NYSE: ITC). (Logo: http://www.newscom.com/cgi-bin/prnh/20020405/LNTLOGO) With the closing of the sale transaction and settlement of closing adjustments, ITC Midwest purchased IPL's transmission assets, including approximately 6,800 miles of 34.5 kV and above transmission lines, substation facilities and transmission land rights for approximately $783 million. The transaction is subject to various post closing adjustments. "Our company is pleased that the sale of our transmission assets to ITC Midwest is complete," says Tom Aller, President-IPL. "The sale of our company's transmission assets is good for our customers, shareowners and our service area. ITC Midwest is committed to providing the transmission infrastructure necessary to enhance economic development and renewable energy opportunities throughout our service area. We are confident of ITC Midwest's ability to provide the transmission infrastructure necessary to grow our economies and enhance the reliability of our energy service for future generations. Our company welcomes ITC Midwest to our service area and looks forward to fostering a strong long-term energy partnership between our companies." "The closing concludes the successful transition of our transmission system to a recognized industry leader in providing transmission services," states John Larsen, Vice President, Technical and Integrated Services - Alliant Energy. "Our company strongly values the opportunity to embark on a long-term partnership with ITC Midwest to ensure that our customers have ample access to safe and reliable energy service." Alliant Energy is an energy-services provider with subsidiaries serving approximately 1 million electric and over 400,000 natural gas customers. Providing its customers in the Midwest with regulated electric and natural gas service is the company's primary focus. Interstate Power and Light, the company's Iowa utility subsidiary, serves 526,000 electric and 232,000 natural gas customers. 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.