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SEMGE Discusses Developments and Changes

PORT HURON, Mich., Jan. 22 /PRNewswire/ -- William L. Johnson, President and Chief Operating Officer of Southeastern Michigan Gas Enterprises (SEMGE) (Nasdaq: SMGS), covered recent Company developments at a meeting with shareholders and brokers on Friday January 17, 1997 in Port Huron, Michigan. The following topics were covered.

The name of the Company will be changed to SEMCO ENERGY, Inc., pending the approval of shareholders at their Annual Meeting in April. Johnson stated that the name change would provide a more marketable brand identity to customers and reduce confusion among regulators, suppliers and vendors.

A long-term incentive plan will also be presented to shareholders in April. The plan provides for stock options and other stock based awards for key management and directors if and when financial targets are met. The plan is designed to retain key management and directors and provide incentives which will increase shareholder value.

The Board of Directors has approved a Shareholder Rights Plan subject to shareholder action in April. The Plan requires the approval of shareholders in April for the authorization of additional preference stock.

Johnson reported that the Company continues to explore the acquisition of businesses that are related to the Company's core business.

Southeastern Michigan Gas Enterprises is the parent company of Battle Creek Gas Company, which serves 35,000 customers in 13 cities and towns including Battle Creek; Michigan Gas Company, which serves 98,000 customers in six counties in southwestern and western Michigan and seven counties in the Upper Peninsula; and Southeastern Michigan Gas Company, which serves 95,000 customers in eastern and central Michigan.
SOURCE Southeastern Michigan Gas Enterprises, Inc.
CONTACT: Francis Lieder of SEMGE, 810-987-7900, Ext. 4l86, or fax 810-987-4570

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding SEMCO Energy's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

 
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