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To: Taki who wrote (112518)	2/6/2003 9:15:24 AM
From: Taki	Read Replies (1) \| Respond to of 150070

BGY news.(COMTEX) B: British Energy puts faith in Centrica executive B: British Energy puts faith in Centrica executive Feb 06, 2003 (Datamonitor via COMTEX) -- British Energy, the embattled UK nuclear group, has appointed Mike Alexander, currently chief operating officer at UK utility, Centrica, as its new chief as it enters a critical period in its troubled restructuring. The company is looking to convince creditors of its worth before February 14, as it looks to implement a government-backed rescue plan to stave off the threat of administration. Mr Alexander joins Adrian Montague, deputy chairman of National Rail, at the head of the cash-strapped generator. Mr Montague was appointed as chairman of British Energy in November. The company's former chief, Robin Jeffrey, remains on the board as the terms of his departure have yet to be finalised. Under the terms of the proposed rescue plan, ministers have agreed to provide $3.5 billion to British Energy to help pay for nuclear fuel decommissioning liabilities. The plan does require the company's shareholders and lenders to accept a sizeable reduction in the value of their interests.