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Dynegy Inc. (ticker: DYN, exchange: New York Stock Exchange (.N)) News Release - 5-Sep-2000

Dynegy Names Robert Ray Vice President of Strategic Investments

HOUSTON--(BUSINESS WIRE)--Sept. 5, 2000--Dynegy Inc. (NYSE:DYN) today announced that Robert Ray has been named vice president of Strategic Investments. In this new position, Ray will be responsible for Dynegy's strategic planning, valuation of corporate mergers and acquisitions, as well as the company's investments in other strategic business opportunities. He reports to Hugh Tarpley, senior vice president of Strategic Investments.

Since joining Dynegy's Finance group in 1991, Ray has held several positions of increasing responsibility, including director of Financial Planning and Analysis, assistant treasurer and, most recently, vice president of Corporate Finance. In this capacity, Ray was responsible for all corporate finance matters, including corporate financings and bank and rating agency relationships.

Ray is a graduate of the University of Texas, where he earned a bachelor's degree in Petroleum Engineering. He also holds master's degrees in business and accountancy from the University of Houston and is a Certified Public Accountant.

Dynegy Inc. is one of the country's leading energy merchants. Through its leadership position in energy marketing, power generation, transportation, gathering and processing, the company provides energy solutions to its customers primarily in North America, the United Kingdom and Europe.

For more information about Dynegy, please visit its Web site at http://www.dynegy.com.