5 MAR, 2004 - 1455 CST This item comes to you courtesy of the Indiana Section Manager. I love the italicized disclaimer statement. Looks like Cinergy Broadband LLC is disclaiming a lot of the English language. :) Investor beware. 73 - Dick, W9GIG ============================================================================ Cinergy News Release Cinergy and Current Communications to Offer Broadband Services Over Power Lines CINCINNATI, March 2, 2004 Cinergy Broadband, LLC, a subsidiary of Cinergy Corp. (NYSE:CIN), and Current Communications Group, LLC announced today they are beginning to offer broadband over power line (BPL) services in the greater Cincinnati, Ohio area. A subsequent expansion is planned for Northern Kentucky and Indiana. Cinergy Broadband and Current have formed a joint venture that will roll out broadband services under the brand Current Communications. Initially, these services will consist of high-speed internet and will eventually be bundled with voice over IP (VoIP). Current will manage the venture, which will build and operate the BPL network and provide marketing, customer support and back office functionality. The BPL network will be deployed on electric distribution infrastructure using proven, proprietary BPL equipment and technology from Currents subsidiary, Current Technologies, LLC. The companies have also created a second joint venture to pursue the deployment of BPL to targeted municipal-owned power companies and rural electric cooperatives across the United States. This joint venture will be managed by Cinergy Broadband and will market Currents BPL technology to its target customer utilities. In addition to the joint ventures, Cinergy has made an investment in Current as part of a larger round of financing. In the financing, Currents existing investors, Liberty Associated Partners, LP and EnerTech Capital, LP, have each contributed additional capital. The aggregate amount of financial commitment to Current and the BPL ventures by all parties in these transactions exceeds $70 million. The decision to roll out broadband services, initially in southwest Ohio and northern Kentucky, follows a trial of the technology and broadband service offering with more than 100 residential customers and several business customers in the Hyde Park area of Cincinnati. The trial produced high customer satisfaction and a strong interest in enrolling in the commercial service. For Internet users, Currents BPL service offers: * "Always on" high speed Internet access from power outlets throughout the home or business * Upload and download access at the same speeds using readily available, off- the-shelf HomePlug® power line modems * Local area networking from all power outlets over existing electrical wiring * Faster speeds (in excess of 3 mbps) at lower monthly cost than other broadband services * Multiple speeds and pricing plans to meet individual needs and budgets * Truly "Plug and Play" installation and activation within minutes * All with no need to add any in-home wiring "Customers will be amazed at the speed, low cost and reliability of BPL, as well as its ease of use," said William J. Grealis, executive vice president of Cinergy and president of Cinergy Broadband. "We are extremely excited to have the opportunity to partner with Cinergy and provide consumers with the newest generation of broadband services," said Ronald Boillat, President and COO of Current Communications Services, LLC, Currents broadband services subsidiary. Broadband services are being offered to consumers and small businesses initially in Hyde Park. Other areas where the service will be offered over the next six months are expected to include Wyoming, Delhi and Terrace Park, as well as other communities in and around Cincinnati. Customers will receive mailings announcing availability in their area as the service is rolled out. Cinergy and Current also will use Current Technologies BPL equipment to implement important new services that will provide improved reliability and increased efficiency for Cinergys utility subsidiaries and their customers. BPL technology can enable a variety of enhanced power distribution applications, including: * Automated outage detection and restoration confirmation * Remote monitoring and operation of switches and transformers * Remote capability to connect and disconnect electric service * More efficient demand-side management programs * Automated meter reading Cinergy has a balanced, integrated portfolio consisting of two core businesses: regulated operations and energy merchant. Cinergys regulated delivery operations in Ohio, Indiana, and Kentucky serve 1.5 million electric customers and about 500,000 gas customers. In addition, its Indiana regulated operations own 7,000 megawatts of generation. Cinergys energy merchant business is a Midwest leader in low-cost generation owning 6,300 megawatts of capacity with a profitable balance of stable existing customer portfolios, new customer origination, marketing and trading, and industrial-site cogeneration. The "into Cinergy" power- trading hub is the most liquid trading hub in the nation. Current Communications Group, LLC is a privately held company based in Germantown, Maryland. Current develops innovative power line equipment and technology for delivering broadband services over power lines. Current is backed by Liberty Associated Partners, LP, Enertech Capital and Cinergy. Liberty Associated Partners is a private investment fund focusing on private equity investments in telecommunications, media, Internet and related technology companies and is managed by the Associated Group, LLC. Enertech Capital is a private equity firm that invests exclusively in service and technology companies emerging from and capitalizing on the reshaping of the energy, utility, and telecommunications markets. Many of the investors in Enertech Capitals funds are major U.S. and international utilities. Click <http://www.currentgroup.com>here to visit the Current Communications web site. This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate", "believe", "intend", "estimate", "expect", "continue", "should", "could", "may", "plan", "project", "predict", "will", and similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from the results predicted. Factors that could cause actual results to differ materially from those indicated in any forward-looking statement include, but are not limited to, unanticipated weather conditions; unscheduled generation outages; unusual maintenance or repairs; unanticipated changes in costs; environmental incidents, including costs of compliance with existing and future environmental requirements; electric transmission or gas pipeline system constraints; legislative and regulatory initiatives; additional competition in electric or gas markets and continued industry consolidation; financial or regulatory accounting principles; political, legal, and economic conditions and developments in the countries in which we have a presence; changing market conditions and other factors related to physical energy and financial trading activities; the performance of projects undertaken by our non-regulated businesses and the success of efforts to invest in and develop new opportunities; availability of, or cost of, capital; employee workforce factors; delays and other obstacles associated with mergers, acquisitions, and investments in joint ventures; and costs and effects of legal and administrative proceedings, settlements, investigations, and claims. Please refer to the company's SEC filings for additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements. The Company undertakes no obligation to update the information contained herein. <http://www.cinergy.com/news/default_corporate_news.asp?news_id/News/default_corporate_news.asp>Back to Press Releases Cinergy Corp., 139 East Fourth Street, Cincinnati, OH 45202 1-800-544-6900 Copyright © 1996-2004 Cinergy All Rights Reserved. <http://www.cinergy.com/news/default_corporate_news.asp?news_id/terms_of_use/default.asp>Terms of Use. <http://www.cinergy.com/news/default_corporate_news.asp?news_id/privacy_policy/default.asp>Privacy Policy.