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SAN DIEGO INDUSTRY NOTES

December 11, 1987

Energy Factors has appointed a special committee to study the "fairness" of a Nov. 6 merger proposal made by New York-based Sithe Energies, L.P., which is the beneficial owner of 55% of Energy Factor's outstanding stock.

The committee includes Vice Adm. Ray Peet, USN (Ret.), one of Energy Factor's independent directors. The committee has retained Smith Barney, Harris Upham & Co. Inc. to study the merger proposal.

Sithe has offered $6.50 in cash for each of Energy Factors outstanding shares.

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