Additional Funding - Bond

Scottish & Southern Energy PLC
17 December 2003





N E W S R E L E A S E F R O M . . . .




FOR IMMEDIATE USE           Ref: NR-3371                17 December 2003



                        £100 MILLION ADDITIONAL FUNDING


Earlier today Scottish and Southern Energy's (SSE) subsidiary company Southern
Electric Power Distribution plc tapped its outstanding 5.50% 2032 bond for a
further £100 million, increasing its total size from £250 million to £350
million.

The all-in cost to the company in yield terms was slightly under 5.25%. The
funds will be used to repay inter-company loan stock.

Commenting on the transaction, SSE's Group Treasurer Gavin Brydon said: 'This
was an excellent transaction for us, providing highly attractive funding over 30
years. The strength of our balance sheet allowed us to react swiftly to an
opportunity in the market and achieve good execution in thin market conditions
in the lead up to the festive period.'

                                    - ENDS -


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