MidAmerican and Constellation Energy Make Regulatory Filings Related to MidAmerican’s Merger

Media Contacts:

MidAmerican Energy Holdings Company:
Sara J. Schillinger/Ann Thelen
515-281-2785

Constellation Energy:
Robert L. Gould/Debra Larsson
410-470-7433

Investor Contacts (Constellation Energy):
Kevin Hadlock/Janet Mosher
410-470-3647/410-470-1884


DES MOINES, Iowa and BALTIMORE – (Oct. 3, 2008) – MidAmerican Energy Holdings Company and Constellation Energy (NYSE: CEG) today announced they have made regulatory filings with the U.S. Nuclear Regulatory Commission (NRC) and the Federal Communications Commission (FCC) related to MidAmerican’s proposed merger with Constellation Energy.

The companies jointly filed an application with the NRC seeking the agency’s consent to the indirect transfers of control of NRC licenses for Constellation Energy’s Calvert Cliffs Nuclear Power Plant, Units 1 & 2; Calvert Cliffs Independent Spent Fuel Storage Installation Facility; Nine Mile Point Nuclear Station, Units 1 & 2; and R. E. Ginna Nuclear Power Plant.

MidAmerican and Constellation Energy also jointly filed with the FCC for approval to transfer certain communication licenses to MidAmerican from Constellation Energy.

“These filings are significant steps in obtaining regulatory approval of our merger with Constellation Energy,” said Gregory E. Abel, president and chief executive officer of MidAmerican. “This will allow Constellation Energy to continue its excellent nuclear operating record, with the backing of MidAmerican and Berkshire Hathaway. Importantly, it positions the combined organization as a leading United States owner/operator of noncarbon resources, delivering long-term benefits to the nation.”

“We’re very proud that our nuclear group has earned a reputation as one of the most capable operators nationwide, and we very much intend to maintain and build on that reputation as part of the MidAmerican family,” said Mayo A. Shattuck III, chairman, president and chief executive officer of Constellation Energy. “The merger approval process is off to a good start, and we’re committed to keeping it on track and moving expeditiously.”

MidAmerican and Constellation Energy announced Sept. 19, 2008, the companies had reached a definitive merger agreement in which MidAmerican will purchase all of the outstanding shares of Constellation Energy for a cash consideration of approximately $4.7 billion, or $26.50 per share. The definitive agreement has been approved by both companies’ boards of directors and is subject to, among other things, shareholder and customary federal and state regulatory approvals.


About Constellation Energy

Constellation Energy (www.constellation.com), a FORTUNE 125 company with 2007 revenues of $21 billion, is the nation’s largest competitive supplier of electricity to large commercial and industrial customers and the nation’s largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of 83 generating units located throughout the United States, totaling approximately 9,000 megawatts of generating capacity. The company delivers electricity and natural gas through Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland.

About MidAmerican Energy Holdings

MidAmerican Energy Holdings Company, based in Des Moines, Iowa, is a global provider of energy services. Through its energy-related business platforms, MidAmerican provides electric and natural gas service to more than 6.9 million customers worldwide. These business platforms are Pacific Power, Rocky Mountain Power and PacifiCorp Energy, which comprise PacifiCorp; MidAmerican Energy Company; CE Electric UK; Northern Natural Gas Company; Kern River Gas Transmission Company; and CalEnergy. Information about MidAmerican is available at www.midamerican.com.

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