Dynegy Obtains Authorization From NYPSC Relating to Proposed Acquisition by Icahn Enterprise

Dynegy Inc. DYN today announced that at a January 20, 2011, session of the New York Public Service Commission, NYPSC granted authorization for the proposed transaction between Dynegy and an affiliate of Icahn Enterprises LP IEP. A written ruling to that effect is expected to be issued by NYPSC in due course. On December 22, 2010, an affiliate of IEP commenced a tender offer to purchase all of the outstanding shares of Dynegy common stock for $5.50 per share in cash, or approximately $665 million in the aggregate. This determination by NYPSC satisfies one of the closing conditions of the IEP tender offer.