CH ENERGY GROUP INC 
By
News Release
October 4, 2012
For Release: Immediately
Contact:
Denise D. VanBuren, (845) 471-8323
CH Energy Group, Inc. and Fortis Inc. Announce
Expiration of Hart-Scott-Rodino Waiting Period
(Washington, D.C.) Fortis Inc. ("Fortis" or the
"Corporation") (TSX:FTS) and CH Energy Group, Inc.
(NYSE:CHG) today announced that the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended ("HSR Act"), has expired in connection with
the previously announced acquisition of CH Energy Group by
Fortis.
Expiration of the waiting period under the HSR Act satisfies
one of the conditions necessary for consummation of the
transaction. The transaction received CH Energy Group
shareholder approval in June 2012 and regulatory approval
from the Federal Energy Regulatory Commission and the
Committee on Foreign Investment in the United States in July
2012. The transaction remains subject to review by the
New York State Public Service Commission.
About CH Energy Group: CH Energy Group is predominantly an
energy delivery company headquartered in Poughkeepsie, New
York. Regulated transmission and distribution
subsidiary
Central Hudson Gas & Electric Corporation serves
approximately 300,000 electric and 75,000 natural gas
customers in eight counties of New York State's
Mid-Hudson River Valley.
About Fortis: Fortis is the largest investor-owned distribution utility in Canada, with total assets of more than $14 billion and fiscal 2011 revenue totalling approximately $3.7 billion. The Corporation serves more than 2,000,000 gas and electricity customers. Its regulated holdings include electric distribution utilities in five Canadian provinces and two Caribbean countries and a natural gas utility in British Columbia, Canada. Fortis owns and operates non regulated generation assets across Canada and in Belize and Upstate New York. The Corporation also owns hotels and commercial office and retail space in Canada.
For more information, visit www.fortisinc.com and www.chenergygroup.com.
Forward-Looking Statements -
Statements included in this communication which are not
historical in nature are intended to be, and are hereby
identified as, "forward-looking statements" for
purposes of the safe harbor provided by Section 21E of the
Exchange Act. Forward-looking statements may be identified by
words including "anticipates," "intends,"
"estimates," "believes,"
"projects," "expects," "plans,"
"assumes," "seeks," and similar
expressions. Forward-looking statements including, without
limitation, those relating to CH Energy Group's and
Central Hudson's future business prospects, revenues,
proceeds, working capital, investment valuations, liquidity,
income, and margins, as well as the acquisition by a
subsidiary of Fortis Inc. and the expected timing of the
transaction, are subject to certain risks and uncertainties
that could cause actual results to differ materially from
those indicated in the forward-looking statements, due to
several important factors, including those identified from
time to time in the forward-looking statements. Those factors
include, but are not limited to: the possibility that various
conditions precedent to the consummation of the proposed
Fortis transaction will not be satisfied or waived including
regulatory approvals of the proposed Fortis transaction on
the timing and terms thereof; the impact of delay or failure
to complete the proposed Fortis transaction on CH Energy
Group stock price; deviations from normal seasonal weather
and storm activity; fuel prices; energy supply and demand;
potential future acquisitions; legislative, regulatory, and
competitive developments; interest rates; access to capital;
market risks; electric and natural gas industry restructuring
and cost recovery; the ability to obtain adequate and timely
rate relief; changes in fuel supply or costs including future
market prices for energy, capacity, and ancillary services;
the success of strategies to satisfy electricity, natural
gas, fuel oil, and propane requirements; the outcome of
pending litigation and certain environmental matters,
particularly the status of inactive hazardous waste disposal
sites and waste site remediation requirements; and certain
presently unknown or unforeseen factors, including, but not
limited to, acts of terrorism. CH Energy Group and Central
Hudson undertake no obligation to update publicly any
forward-looking statements, whether as a result of new
information, future events, or otherwise. Given these
uncertainties, undue reliance should not be placed on the
forward-looking statements.
Additional Information about the Fortis Transaction and Where
to Find It
In connection with the proposed acquisition of CH Energy
Group by Fortis, CH Energy Group filed a definitive proxy
statement with the SEC on May 9, 2012, and has filed other
relevant materials with the SEC as well. Investors and
security holders of CH Energy Group are urged to read the
proxy statement and other relevant materials filed with the
SEC because they contain important information about the
proposed acquisition and related matters. Investors and stock
shareholders may obtain a free copy of the proxy statement
when it becomes available, and other documents filed by CH
Energy Group, at the SEC's Web site, www.sec.gov. These documents can
also be obtained by investors and stockholders free of charge
from CH Energy Group at CH Energy Group's website at www.chenergygroup.com,
or by contacting CH Energy Group's Shareholder Relations
Department at (845) 486-5204.
HUG#1646753
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