1. Bruce A. Williamson Chairman, President and CEO DYNEGY INC. June 15, 2004 Keeping Houston the Energy Capital of the World: The Role of Reputation

2. WHAT MAKES A CITY A “BUSINESS CAPITAL?” Skilled Work Force Reputation Civic, Community & Business Leadership Business Presence Business Capital Factors Reputation is a critical business capital characteristic

3. THE ROLE OF THE CITY Health care Programs & Services Infrastructure Quality of life creates a reputation Arts & Entertainment Safety Housing Choices Education Business & Commerce Attract & Retain

4. THE ROLE OF COMPANIES Ethical Leadership Corporate Governance Integrity-based Culture Compliance with Government Standards Vision for the Future Accountability & Responsibility Confidence & Credibility

5. Bruce A. Williamson Chairman, President and CEO DYNEGY INC. June 15, 2004 Keeping Houston the Energy Capital of the World: The Role of Reputation