NEW YORK - In the Cinergy Corp. (NYSE:CIN) 2004 annual report released on March 29, 2005, CEO Jim Rogers writes," It (global warming) has become the 'elephant in the room' in the debate on comprehensive environmental legislation." Rogers who leads Cincinnati-based Cinergy Corp., one of the largest coal-burning utilities in the country should know. He lists six signposts in his shareholder letter that convince him of the inevitability of a carbon-constrained world. Rogers said, "Some people might expect the company to duck this issue. But avoiding the debate over climate change and failing to understand its consequences are simply not options for us."

Cinergy devotes their 2004 annual report to exploring the question: "Can we find common ground on global warming?" The answers come from 23 of the company's stakeholders who are interviewed by L.J. Rittenhouse, a financial strategist, author and President of andBEYOND Communications and can be found on the company website www.cinergy.com.

The stakeholders profiled include Senators Joe I. Lieberman and Richard A. Lugar; climate scientist Dr. Ben Brabson; high school teacher Judy Gammon; former EPA administrators, Bill Ruckelshaus and Bill Reilly; as well as investors, Reverend William Somplatsky-Jarman of the Presbyterian Church USA; Joan Bavaria of Trillium Asset Management and Denise Furey of Fitch Ratings Services, and others.

The diverse views of these individuals are quoted in the report and also in full interviews posted on the company website. Rittenhouse who annually ranks CEO candor in shareholder letters noted, "This is the first example I know where a company's annual report forthrightly addresses a topic as controversial as global warming and also probes for constructive dialogue and action. In addition to the views of national policy makers and leaders, readers can go to the company website and learn what a cross-section of American citizens thinks about global warming."

The common ground of these individuals centers on a concern for the future generations, the theme of Cinergy's 2003 annual report on corporate stewardship. Brittnee Hunt, a ninth-grade student from Kentucky is quoted in the 2004 report saying, "People who care about global warming see the world as in their hands. They need to take care of it. People that don't care say, 'Someone else will do it, it's not my job.'"

Cinergy Corp. has a balanced, integrated portfolio consisting of two core businesses: regulated operations and commercial businesses. Cinergy's regulated public utilities in Ohio, Indiana, and Kentucky serve 1.5 million electric customers and about 500,000 gas customers. In addition, its Indiana regulated company owns 7,000 megawatts of generation. Cinergy's competitive commercial businesses have 6,300 megawatts of generating capacity with a profitable balance of stable existing customer portfolios, new customer origination, marketing and trading, and industrial-site cogeneration.

andBEYOND Communications Inc., is an investor relations firm that advises CEOs on developing high-performance, ethical communications and practices. Founded in 1991 by former investment banker L.J. Rittenhouse, andBEYOND has developed proprietary analytic tools to demonstrate the relationship between candid communication and financial success.

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