First Organized Sale of Nuclear Power Plant to Result in Substantial Savings

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First Organized Sale of Nuclear Power Plant to Result in Substantial Savings
For Customers

Sales Book and Bid Package Released

 LOS ANGELES, May 7 /PRNewswire/ -- The agents for the sale of the Maine
Yankee Nuclear Power Plant in Wiscasset, Maine, have released a sales book and
bid package with details of the offer and terms of sale.  This first organized
attempt to sell a nuclear power plant in bulk is being overseen by Hackman
Capital Partners, GE Capital Manufacturing Equipment Services and Dove
Brothers.

Bids for component pieces, such as generators, transformers and turbines, will
also be accepted.

The sale has the potential to save Maine Yankee customers millions of dollars
in decommissioning costs, as well as reduce the cost of constructing a plant
of similar capacity by up to $1 billion.

"The plant, or its components, are likely to be sold where there is a high
demand for reliable electricity," said Michael Hackman, President of Hackman
Capital Partners.  "We expect to receive bids for the plant and component
pieces from within the USA and internationally.  Our selection criteria will
ensure that the successful bidder conforms to all domestic and international
guidelines for the transfer of this technology," he said.

Bids for the purchase of the entire power plant are due to Hackman Capital
Partners by May 31, 1998.  If there is a qualified bulk bidder, negotiations
will begin with Maine Yankee in mid-June.  If there is not a qualified bulk
bidder, bids for component pieces will be accepted beyond May 31.

"While the bulk sale of a nuclear power plant would be unique, the sale and
re-use of industrial equipment is a common and prudent business practice,"
said Hackman.  "We are convinced that we can obtain strong value for Maine
Yankee in this transaction, and offer the buyer of the plant savings of up to
a billion dollars over the cost of constructing a new plant of similar
capacity."

The Maine Yankee plant is a 900 Megawatt electric power generating facility
that began commercial service in 1972.  It has produced more than 119 billion-
kilowatt hours of electricity and benefited from more than $200 million in
continuous capital improvements.  During its lifetime, the plant was
recognized for operational excellence.

"This is a creative and innovative approach that could set a precedent for
future decommissionings in the United States," Hackman said.

Maine Yankee is preparing for decommissioning following the decision in August
1997 to permanently close the plant.  The sale of the plant or its components
will reduce Maine Yankee's dismantlement, transportation and burial costs.

"This approach will benefit Maine Yankee customers in two ways:  it will
reduce the cost of decommissioning and generate revenue that will reduce
debt," said Maureen Brown, Public Affairs Director for Maine Yankee.

The Maine Yankee Power Plant is designed as a closed loop, pressurized water
system, which has kept most of the components free of contamination. The
dismantling, transportation and re-assembly of the plant, or components, will
be carried out in compliance with all regulations.

The sales book and bid package is available by calling Hackman Capital
Partners at 310-473-8900.  The package includes a detailed list of the
equipment available, bidding instructions, terms of sale and terms of
disconnect.

For more information, visit the sale website at www.buynuclear.com.

SOURCE  Hackman Capital Partners  

CO:  Hackman Capital Partners

ST:  California, Maine

IN:  FIN

SU:

05/07/98 13:45 EDT http://www.prnewswire.com