SAULT STE. MARIE, MICHIGAN

 March 6, 1998

Donald C. Wilson
Corporate Secretary, ESELCO, Inc.
725 East Portage Avenue
Sault Ste. Marie MI 49783
(906) 632-5158

The Board of Directors of ESELCO, Inc. at a Special Board Meeting of March 4, 1998, announced the retirement of three officers of ESELCO, Inc., and its primary subsidiary, Edison Sault Electric Company.

The Board of Directors is pleased to announce the appointment of Donald Sawruk as President of ESELCO and Edison Sault Electric Company, effective with the retirement of William R. Gregory on March 31, 1998. Mr. Sawruk, a native of Sault Ste. Marie, joined the Company in 1970 upon graduation from Lake Superior State College. He joined the Company as Customer Accounting Supervisor. During his career, he has held the positions of Data Processing Manager, Assistant Secretary/Assistant Treasurer, Vice President - Administration/Corporate Secretary, Executive Vice President/Corporate Secretary, and his current position Executive Vice President/Chief Operating Officer. Mr. Sawruk has been active in many state and local organizations and committees. He completed his Masters in Business Administration from Lake Superior State University in 1989. He is married to the former Nancy Suggitt, and they have three children Stacia, Alex, and André.

As of March 31, 1998, William R. Gregory, President and Chief Executive Officer, will retire after thirty years of service to the Company. A graduate of Wayne State University, Mr. Gregory joined the Company in 1968 as Treasurer, following four years with Arthur Andersen & Co., a national public accounting firm. At Edison Sault Electric Company, he advanced to Controller, then Vice President of Finance, and Executive Vice President. In 1972, he was appointed President and Director of the Company, positions he has held ever since. Mr. Gregory has been highly regarded in the community and state for his involvement in business and community affairs. Mr. Gregory will remain a member of the Board of Directors following his retirement as President and CEO. Mr. Gregory and his wife, Mary Lou, plan to continue to live in Sault Ste. Marie.

James L. Beedy, Vice President - Engineering, will retire on March 31, 1998, following thirty-two years of service to the Company. A Sault Ste. Marie area native, Mr. Beedy graduated from Michigan Technological University. He joined Edison Sault in 1965, following a tour with the United States Air Force. He began his career at Edison Sault as Electrical Engineer, then Chief Engineer, and was promoted to Vice President - Engineering in 1988. Plans call for Mr. Beedy and his wife, Sue, to continue to live in the Sault Ste. Marie area.

Also retiring effective March 31, 1998, is David R. Hubbard, Vice President - Finance. A Detroit native and a graduate of Alma College, Mr. Hubbard joined the Company in 1971 as Chief Accountant following a brief career with Arthur Andersen & Co. He was appointed Controller in 1972 and Vice President - Finance in 1977. Mr. Hubbard has been active in many community organizations throughout his tenure in Sault Ste. Marie. Following his retirement, Mr. Hubbard and his wife, Pat, will move to Cheboygan, Michigan.

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Last modified: August 16, 2002