Reliant Energy to Commence $4 Billion Refinancing Program HOUSTON, Nov. 29 /PRNewswire-FirstCall/ -- Reliant Energy, Inc. announced today it plans to launch a program to refinance existing debt facilities by raising approximately $4 billion in new debt. The debt instruments to be refinanced include: a $2.1 billion revolving credit facility and a $1.7 billion term loan at the parent company; $0.3 billion of Orion Power Midwest bank debt; and $0.4 billion of floating-rate, tax-exempt bonds. The new financing package is expected to include a $1.7 billion revolving credit facility and a combination of a term loan B, senior secured notes and fixed-rate, tax-exempt bonds. The company has received commitments for the revolving credit facility in excess of $1.7 billion. The company expects to complete the refinancing by the end of the year. The senior secured notes will be sold pursuant to Reliant's shelf registration statement. This press release is neither an offer to sell nor the solicitation of an offer to buy the notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such an offer, solicitation or sale is unlawful. Any offer of the notes will be made only by means of a prospectus. When available, a copy of the prospectus supplement and related base prospectus concerning the offering of the notes may be obtained from Reliant. Reliant Energy, Inc., based in Houston, Texas, provides electricity and energy services to retail and wholesale customers in the U.S. The company provides a complete suite of energy products and services to approximately 1.9 million electricity customers in Texas ranging from residences and small businesses to large commercial, industrial and institutional customers. Reliant also serves commercial and industrial clients in the PJM (Pennsylvania, New Jersey, Maryland) Interconnection. The company has approximately 19,000 megawatts of power generation capacity in operation or under contract. This news release contains "forward-looking statements." Forward-looking statements are statements that contain projections about our revenues, income, earnings and other financial items, our plans and objectives for the future, future economic performance, or other projections or estimates about our assumptions relating to these types of statements. These statements usually relate to future events and anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words. However, the absence of these words does not mean that the statements are not forward-looking. We have based our forward-looking statements on management's beliefs and assumptions based on information available to management at the time the statements are made. Actual results may differ materially from those expressed or implied by forward-looking statements as a result of many factors or events, including legislative and regulatory developments, the outcome of pending lawsuits, governmental proceedings and investigations, the effects of competition, financial market conditions, access to capital, the timing and extent of changes in commodity prices and interest rates, weather conditions, changes in our business plan and other factors we discuss in our other filings with the Securities and Exchange Commission. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. DATASOURCE: Reliant Energy, Inc. CONTACT: Pat Hammond, media, +1-713-497-7723, or Stephanie Slavin, investors, +1-713-497-6983, both of Reliant Energy, Inc. Web site: http://www.reliant.com/corporate

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