NTEA Nthn.elec.prf

RNS Number:8072K
Innogy Holdings PLC
28 September 2001



                               Innogy Holdings plc


                                Financial update

Following the successful completion of Northern Electric deal earlier this
week, Innogy is taking the opportunity to update the market on its activities
during the six months to 30 September 2001.

Innogy has performed well, with all main ongoing business units on track to
deliver growth in first half earnings from the same period last year,
pre-amortisation of goodwill, in line with management expectations.

The acquisition of Yorkshire Power Group and subsequent swap of the Yorkshire
distribution business for the Northern Electric Supply business were both
completed during the six months to 30 September 2001. The swap was completed
on 24 September and so the Northern Electric Supply business will not make a
material contribution to earnings for the half year, but will appear on the
balance sheet. The Yorkshire distribution business was acquired and sold
within the six months to 30 September 2001 and so will not be consolidated
within the accounts.

Retail earnings have benefited from the integration of the Yorkshire supply
business and the first full first half-year earnings contribution from the
former Midland supply business.

As announced on 11 September, following an internal review Innogy has decided
to restructure its Cogen business to focus on the exploitation of its existing
assets and to put on hold the development of new schemes. Cogen's existing
assets will continue to contribute to Innogy's earnings and to the company's
environmental performance.

Innogy will announce its Interim results on 29 November 2001.



Mike Bowden
Company Secretary

ENDS



For Further Information, contact:

Alison Cole          Director of Corporate Communications    01793 892864

Steve Cronin          Investor Relations Director            020 7406 1910

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