FARMINGTON HILLS, Mich., Feb. 27 /PRNewswire-FirstCall/ -- SEMCO ENERGY,
Inc. ("SEMCO") (NYSE: SEN) today announced the extension of its offer to
exchange (the "Exchange Offer") an aggregate principal amount of $50,000,000
of its outstanding 7 3/4% Senior Notes due 2013 (the "Old Notes") that were
issued on December 17, 2003 for new 7 3/4% Senior Notes due 2013 (the
"Exchange Notes") that have been registered under the Securities Act of 1933,
The current Exchange Offer, scheduled to expire at 5:00 p.m. EST on
February 26, 2004, has been extended until 5:00 p.m. EST on March 2, 2004.
Tenders with respect to approximately $49,500,000 aggregate principal amount
of the Old Notes, which represents 99% of the total outstanding principal
amount of the Old Notes, have been received to date.
This announcement is not an offer to exchange, or a solicitation of an
offer to exchange, with respect to the Old Notes. The Exchange Offer is being
made solely by a prospectus, dated January 22, 2004 (the "Prospectus"), and
the Exchange Offer, as extended hereby, remains subject to the terms and
conditions stated therein.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
referred to herein in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of such state. A registration statement relating to these securities was
filed and has been previously declared effective by the Securities and
Exchange Commissions (the "SEC"). The Prospectus was filed by SEMCO with the
SEC and is available on the SEC's web site at www.sec.gov. The Prospectus may
also be obtained from SEMCO by writing c/o Corporate Secretary, 28470 13 Mile
Road, Suite 300, Farmington Hills, Michigan 48334, or by calling
SEMCO ENERGY, Inc. distributes natural gas to approximately 391,000
customers combined in Michigan, as SEMCO ENERGY GAS COMPANY, and in Alaska, as
ENSTAR Natural Gas Company. It owns and operates businesses involved in
natural gas pipeline construction services, propane distribution, intrastate
pipelines and natural gas storage in various regions of the United States. In
addition, it provides information technology and outsourcing services,
specializing in the mid-range computer market.
This document contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 that are based on current
expectations, estimates and projections of SEMCO Energy, Inc. and its
subsidiaries (the "Company"). Statements that are not historical facts,
including without limitation statements about the Company's outlook, beliefs,
plans, goals and expectations, are forward-looking statements. In addition,
forward-looking statements generally can be identified by the use of forward-
looking terminology such as "may," "will," "expect," "intend," estimate,"
"anticipate," "believe" or "continue" or the negatives of these terms or
variations of them or similar terminology. These statements are subject to
potential risks and uncertainties and, therefore, actual results may differ
materially. The Company undertakes no obligation to update publicly any
forward-looking statements whether as a result of new information, future
events or otherwise.
SOURCE SEMCO ENERGY, Inc.