EDF Near Deal to Buy 50% Constellation Nuclear Operations

December 16, 2008

Dow Jones & Company, Inc.
Electricite de France (1024251.FR) is close to reaching a deal to
acquire 50% of U.S.-based Constellation Energy Group Inc. (CEG)
nuclear operations, a person familiar with the matter said Tuesday.
If successful, the agreement would be a blow to MidAmerican
Energy Holdings Co.'s earlier bid for the entire company.

EDF declined to comment.

The French state-controlled utility is offering $4.5 billion for
50% of Constellation's nuclear assets. EDF already owns 9.5% of
Constellation outright and has a nuclear venture underway with it.

EDF's bid for the nuclear assets of its U.S. affiliate is an
eleventh-hour counter-offer to a $4.7 billion friendly takeover bid
for all of Constellation by MidAmerican, a unit of U.S. financier
Warren Buffet's Berkshire Hathaway Inc. (BRKB).

-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171740;
>> geraldine.amiel@ dowjones.com;