Scottish & Southern Energy PLC
2 December 1999
Scottish and Southern Energy plc
ANNOUCEMENT
The Board of Scottish and Southern Energy plc notes today's announcement by
Ofgem in regard to future price controls. The Board expects to announce its
formal response within the timetable set by the Regulator and intends, early
next year, to make a statement clarifying its future financial strategy,
efficiency improvements and response to price controls.
Subject to market conditions, the Board may make use of its authority to
purchase the company's own shares in the market from time to time and in
circumstances where the Directors consider that this will increase value for
shareholders.
The current share price authority, granted at the last Annual General Meeting,
allows market purchases of up to 87,571,471 shares, representing approximately
10 percent of the issued share capital of the company. The authority expires
at the conclusion of the next Annual General Meeting of the company.
For further information:
Scottish & Southern Energy 01738 455113
Carolyn McAdam
Financial Dynamics 0171 831 3113
Andrew Dowler
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