Reminder: Dynegy to Web Cast Annual Shareholders Meeting on May 19

    Business Editors/Energy Editors

    HOUSTON--(BUSINESS WIRE)--May 16, 2005--Dynegy Inc. (NYSE:DYN) will present a live web cast of its annual meeting of shareholders on Thursday, May 19, 2005, beginning at 10 a.m. CT. At the meeting, Bruce A. Williamson, Chairman, President and Chief Executive Officer of Dynegy Inc., will discuss the company's self-restructuring achievements during the past year and its focus on delivering value to shareholders.
    Shareholders and other interested parties may visit the "News & Financials" section of Dynegy's web site at www.dynegy.com to access a simultaneous audio web cast of the meeting and presentation slides. Web access, which is being provided to ensure that all investors, customers, suppliers and other stakeholders have an opportunity to listen to the meeting, will be limited to listening only. Participation in the web cast will not be sufficient for having one's shares considered for quorum or voting purposes at the meeting. Both the audio web cast of the meeting and the presentation slides will be available on Dynegy's web site from the date of the meeting through August 19, 2005.
    Dynegy Inc. provides electricity, natural gas and natural gas liquids to markets and customers throughout the United States. Through its energy businesses, Power Generation and Natural Gas Liquids, the company owns and operates a diverse portfolio of assets, including power plants totaling more than 13,000 megawatts of net generating capacity and gas processing plants that process approximately 1.6 billion cubic feet of natural gas per day. DYNF

--30--JV/ho*

CONTACT: Dynegy Inc., Houston Media: John Sousa or David Byford, 713-767-5800 or Analysts: Peter Wilt, Norelle Lundy or Hillarie Bloxom, 713-507-6466

KEYWORD: TEXAS INDUSTRY KEYWORD: OIL/GAS ENERGY UTILITIES CONFERENCE CALLS SOURCE: Dynegy Inc.

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