We've been very successful in working toward the intermediate goals we set for ourselves in 1995. Here is a progress report:

Average Cost
On target - achieved a 7 percent decrease in cost per kilowatt-hour since 1994.

Earnings From Businesses Outside the Southeast
On target - projected to be more than 30 percent by 2003.

Overhead
On target - achieved a 20 percent reduction by December 1998.

Earnings Per Share Growth
On target - projected to meet an average annual growth rate of 5 percent to 6 percent.

Revenue
On target - maintained growth targets from 1996 through 1998.

Customer Satisfaction
Met - our five southeastern utilities earned the top five positions in a 1998 nationwide survey measuring satisfaction among large customers.

Cash Flow
Met - hit targets from 1996 through 1998.

Great Place to Work
On target - employee survey showed improvement in key areas.

Power Marketing
Met - ranked No. 2 nationwide and No. 1 in the Southeast in 1998.