Bruce A. WilliamsonBruce A. WilliamsonChairman, President and CEOChairman, President and CEO

DYNEGY INC.DYNEGY INC.June 15, 2004June 15, 2004

Keeping Houston the Keeping Houston the Energy Capital of the World:Energy Capital of the World:

The Role of ReputationThe Role of Reputation

WHAT MAKES A CITY A “BUSINESS CAPITAL?”WHAT MAKES A CITY A “BUSINESS CAPITAL?”

Skilled Work Skilled Work ForceForce

Reputation

Civic, Civic, Community & Community &

Business Business LeadershipLeadership

Business Business PresencePresence

Business Business Capital Capital FactorsFactors

Reputation is a critical business capital characteristic

THE ROLE OF THE CITYTHE ROLE OF THE CITY

Health careHealth care ProgramsPrograms& Services& Services

InfrastructureInfrastructure

Quality of life creates a reputation

Arts &Arts &EntertainmentEntertainment

SafetySafety

Housing Housing ChoicesChoices

EducationEducationBusiness & Business & CommerceCommerce

Attract Attract & Retain& Retain

THE ROLE OF COMPANIESTHE ROLE OF COMPANIES

EthicalLeadership

Corporate Governance

Integrity-basedCulture

Compliance with Government Standards

Vision for the Future

Accountability & Responsibility

Confidence Confidence & Credibility& Credibility

Bruce A. WilliamsonBruce A. WilliamsonChairman, President and CEOChairman, President and CEO

DYNEGY INC.DYNEGY INC.June 15, 2004June 15, 2004

Keeping Houston the Keeping Houston the Energy Capital of the World:Energy Capital of the World:

The Role of ReputationThe Role of Reputation