<B>Consolidated Paper Selling Power Subsidiary</B>

Consolidated Papers, Inc. entered into an agreement to sell its one-third interest in Wisconsin River Power Company to Wisconsin Public Service Corporation. Wisconsin River Power Company is an electric utility jointly owned by Consolidated Water Power Company, a subsidiary of Consolidated Papers; Wisconsin Public Service Corporation; and Alliant Energy. Pending completion of the sale, Consolidated has undertaken not to vote its shares in Wisconsin River Power Company.

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August 2000
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