NYSE Suspends Trading Of TXU Europe Capital I Moves To Remove From The List

The New York Stock Exchange announced today that it determined that the 9.75% Trust Originated Preferred Securities (TOPrS) of TXU Europe Capital I (the "Trust")-- ticker symbol TEG.A - should be suspended immediately. The Trust has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of the NYSE staff's decision.

This determination was based on a news announcement made by one of the newly appointed joint administrators on Nov. 21, 2002 indicating their appointment in the administration of TXU Europe Ltd (the ultimate parent of the Trust). We are advised by management of the Trust that administration in the United Kingdom is similar to Chapter 11 bankruptcy proceedings in the United States. The NYSE previously did not open trading on Tuesday Nov. 19, 2002 to review the continued listing status of the security in light of ongoing news reports involving TXU Europe Ltd.

The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.