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Cogentrix Energy Acquires Selected Domestic Energy Assets Of Bechtel Enterprises

March 17, 1998 Cogentrix Energy, Inc. has signed an agreement with Bechtel Enterprises, Inc. to acquire Bechtel's ownership interests in twelve electric generating facilities and one interstate natural gas pipeline in the United States. The acquisition of these facilities will provide Cogentrix with a net equity interest of 360 megawatts in a diverse generating portfolio that comprises over 2,424 megawatts in total plant capacity. The assets are located in New Jersey, New York, Pennsylvania, West Virginia, Massachusetts, and Florida. Nine of the generating facilities were developed, are managed, and are owned in part by U.S. Generating Company (USGen).