Further to ScottishPower's announcement on 21 December 2000 of the acquisition of the 715 MW Rye House power station from Powergen, ScottishPower announces the formal completion of the transaction on 8 March 2001 for a cash consideration of £217 million. Completion follows regulatory clearance by OFGEM and the DTI.

A provision for the excess cost of the gas purchase contract will be made to ScottishPower's balance sheet consistent with the original estimate of the effective price of the acquisition at £450/kW of installed capacity.

Further Information:
Dominic Fry,                  Director of Corporate Affairs             0141 636 4560
Colin McSeveny ,         Group Media Relations Manager         0141 636 4515