IBEW Local 965 Members Ratify New Contract with Wisconsin Power and Light

Press Release Source: Alliant Energy Corporation

IBEW Local 965 Members Ratify New Contract With Wisconsin Power and Light
Thursday April 15, 5:51 pm ET

# MADISON, Wis., April 15 /PRNewswire-FirstCall/ -- Wisconsin Power and Light Company (WP&L), a subsidiary of Alliant Energy Corporation (NYSE: LNT - News), announced today members of the International Brotherhood of Electrical Workers (IBEW) Local 965 this week voted to ratify a four-year contract reached with Alliant Energy on Mar. 12, 2004.(Logo: http://www.newscom.com/cgi-bin/prnh/20020405/LNTLOGO )

Out of 1,413 eligible bargaining unit members, 1,129 voted on the agreement. Of that number, 863 voted for ratification, 265 voted against the contract and one ballot was voided.

The tentative agreement was the last in a series of three offers presented to Local 965 members since contract talks began in March 2003. The most recent version of the contract included wage increases of 3.0% the first year, followed by annual increases of 3.25% in years two and three respectively, with an increase of 3.30% in year four with the potential to attain a 3.60% increase if Alliant Energy Corporation's final earnings per share meet or exceed the Target goal for 2005; or a 3.75% increase if final earnings per share meet or exceed the Distinguished goal for 2005.

The agreement also included changes to retirement and medical benefits and various work rules.

Alliant Energy employees who are covered by the contract have worked under a contract extension that maintained the previous collective bargaining agreement during negotiations. The general wage increase for the new contract will be retroactive to May 18, 2003.


Source: Alliant Energy Corporation