NiSource (NI) Highlights Recent Business Accomplishments

In conjunction with the filing of its Form 10-K for the year ended Dec. 31, 2008, NiSource Inc. (NYSE: NI) highlighted several key recent business accomplishments and reiterated its commitment to maintaining its dividend and investment grade credit ratings.

Near-term liquidity initiatives:

• On Feb. 13, NiSource closed a $265 million two-year term loan which it expects to increase to $350 million in April under an accordion feature in the financing agreement.
  
• NiSource expects the bonus tax depreciation provisions contained in the Federal stimulus legislation enacted on Feb. 17 to effectively generate approximately $100 million in incremental cash for the company in 2009.
  

"Since our Feb. 4 earnings announcement, our team has delivered a series of accomplishments that provide further evidence of our ability to meet our commitments and effectively manage through this challenging environment," NiSource President and CEO Robert C. Skaggs, Jr. said. "Our leadership team and Board of Directors remain fully committed to advancing our core business strategy, meeting NiSource's financing needs and earnings projections, and maintaining our investment grade credit ratings and our dividend. As we continue to execute on that plan, we will keep all of our key stakeholders informed."

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NiSource Inc. is engaged in natural gas transmission, storage and distribution, as well as electric generation, transmission and distribution.