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PG&E Issues Statement After State And Southern California Edison Reach An Agreement

04/09/2001

San Francisco, CA -- Pacific Gas and Electric Company today issued the following statement after the State and Southern California Edison reached an agreement:

"We are pleased that Southern California Edison, given its set of facts, and the State have been able to reach an agreement and are hopeful that this agreement will contribute to the solution of the State's energy crisis.

"Given our set of facts, we continue to believe that a Chapter 11 reorganization is the most feasible means to reach a solution.

"We will proceed at the direction of the bankruptcy court."

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