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���������ֳ�-Chicago-November 7, 2005: ���������ֳ� has placed the 'BBB-' rating of Northeast Generation Company LLC's (NGC) $320 million senior secured bonds due 2026 (series B) on Rating Watch Negative. The rating action follows the announcement by NGC's indirect parent, Northeast Utilities, (NU, rated 'BBB' with a Negative Outlook by ���������ֳ�) that NU is exiting the competitive generation and retail energy marketing businesses.

To date, NGC's rating was predicated on the expectation that NGC's output will be continually under contract with Select Energy, also a wholly owned NU subsidiary, with payments that provide coverage above 1.3 times (x).

If NGC is sold, ���������ֳ� expects NGC's financial performance will more closely resemble a merchant profile. NGC's merchant prospects are uncertain, as historical performance has reflected the stable contractual payments received from Select Energy. ���������ֳ� will resolve the Rating Watch once NGC's merchant profile is determined.

NGC's assets consist mainly of a portfolio of wholly owned, hydroelectric generation assets located in Connecticut and Massachusetts. Northfield Mountain, a nominal 1,080 MW pumped storage facility, is the flagship of the portfolio. The remaining assets consist of 12 conventional hydroelectric plants representing 195 MW and one 21 MW combustion turbine.

Contact: Doug Harvin +1-312-368-3120 (Northeast Generation), Chicago; or Ari Kagan +1-212-908-0644 (Northeast Utilities), New York.