PSEG Recommends Rejection of Mini-Tender Offer by TRC Capital Corporation (PEG)

Public Service Enterprise Group PEG has been notified of an unsolicited "mini-tender offer" by TRC Capital Corporation to acquire up to 3 million shares of PSEG common stock, representing less than 0.6 percent of PSEG's outstanding shares. TRC Capital's offer price of $29.75 per share in cash represented, as TRC Capital's own offer document acknowledges, approximately a 3.44 percent discount below PSEG's closing price of $30.81 per share on the New York Stock Exchange on April 5, 2011, the day before the offer commenced.