PRINCETON, N.J.--(BUSINESS WIRE)--Dec. 16, 2005--NRG Energy, Inc. (NYSE:NRG) has entered into an Asset Purchase and Sale Agreement to sell its Audrain Generating Station, a gas fired 640 megawatt peaking facility in Vandalia, Missouri to AmerenUE, a subsidiary of Ameren Corporation (NYSE:AEE). The purchase price is $115 million, subject to customary purchase price adjustments, plus the assumption of $240 million of non-recourse capital lease obligations and assignment of $240 million note receivable. Of the $115 million in cash proceeds, approximately $93 million of the proceeds will be paid to the project lenders with the balance of approximately $22 million paid to NRG.

The sale is subject to customary approvals, including Federal Energy Regulatory Commission, Missouri Public Utilities Commission, and Hart-Scott-Rodino review, and is anticipated to close during the first half of 2006.

The transaction will result in the removal of $412 million of liabilities (including $240 million of non-recourse capital lease obligations and $172 million in non-current liabilities) and $412 million of assets (including $240 million note receivable and $172 million in PP&E and inventory) from NRG's balance sheet. Upon closing, this transaction is expected to result in an estimated pre-tax gain of approximately $15 million.

NRG Energy, Inc. owns and operates a diverse portfolio of power-generating facilities, primarily in the Northeast, South Central and Western regions of the United States. Its operations include baseload, intermediate, peaking, and cogeneration facilities, thermal energy production and energy resource recovery facilities. NRG also has ownership interests in generating facilities in Australia and Germany.

AmerenUE is a subsidiary of St. Louis-based Ameren Corporation. The utility corporations of Ameren serve 2.3 million electric and more than 900,000 natural gas customers in a 64,000-square-mile area of Illinois and Missouri.

Certain statements included in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements above include, but are not limited to the expected timing of the transaction, expected pre-tax gains and its impact on NRG's balance sheet. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct. Factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements above include, among others, regulatory delays and final decisions regarding the accounting treatment of the transaction.

NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should not be construed as exhaustive. For more information regarding risks and uncertainties that may affect NRG's future results, review NRG's filings with the Securities and Exchange Commission at www.sec.gov.

    CONTACT: NRG Energy, Inc., Princeton
             Investor Relations:
             Nahla Azmy, 609-524-4526
             or
             Katy Sullivan, 609-524-4527
             or
             Media Relations:
             Meredith Moore, 609-524-4522
             or
             Jay Mandel, 609-524-4525

    SOURCE: NRG Energy, Inc.