DALLAS, May 5 /PRNewswire-FirstCall/ -- TXU Corp. hereby notifies holders of its Series M Senior Notes due May 16, 2008 (the "Series M Notes") and holders of its Income PRIDES issued in 2002, of which the Series M Notes comprise a part, that the Reset Spread and the Benchmark Treasury to be used to determine the Reset Rate for the Series M Notes in connection with the proposed May 11, 2006 remarketing of the Series M Notes (which Reset Rate will be in effect on and after May 16, 2006 if the remarketing is successful) have been determined and are not subject to change. The Reset Spread is 125 basis points (1.25%) and the Benchmark Treasury is CUSIP No. 912828FC9 (Maturity April 30, 2008).
In the remarketing, TXU Corp. expects to submit an order to purchase a substantial amount of the Series M Notes subject to the remarketing and, to the extent all outstanding Series M Notes are subject to the remarketing, may repurchase as much as all of such Series M Notes. TXU Corp., however, makes no commitment to purchase any Series M Notes.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any remarketing to the public will only be made pursuant to a prospectus which, when finalized, may be obtained from the remarketing agent, Lehman Brothers Inc. For additional information regarding the remarketing, you may contact Lehman Brothers Inc. at 1-800-443-0892.
TXU Corp., a Dallas-based energy company, manages a portfolio of competitive and regulated energy businesses primarily in Texas. In the competitive TXU Energy Holdings segment (comprised of electricity generation and development, wholesale marketing and retailing), TXU Energy provides electricity and related services to 2.3 million competitive electricity customers in Texas, more customers than any other retail electric provider in the state. TXU Power has over 18,300 megawatts of generation in Texas, including 2,300 MW of nuclear and 5,837 MW of lignite/coal-fired generation capacity. The company is also one of the largest purchasers of wind-generated electricity in Texas and North America. TXU Wholesale optimizes the purchases and sales of energy for TXU Energy and TXU Power and provides related services to other market participants. TXU Corp.'s regulated segment, TXU Electric Delivery, is an electric distribution and transmission business that complements the competitive operations, using superior asset management skills to provide reliable electricity delivery to consumers. TXU Electric Delivery operates the largest distribution and transmission system in Texas, providing power to three million electric delivery points over more than 100,000 miles of distribution and 14,000 miles of transmission lines. Visit http://www.txucorp.com/ for more information about TXU Corp.
