The Board of Directors of Reliant Energy, Incorporated today declared a regular quarterly cash dividend of $0.16 per share of common stock payable on September 10, 2002, to holders of record as of the close of business on August 19, 2002. This equates to an annual dividend of $0.64 per share of common stock.

"We have been telling investors for some time that it was likely we would reduce our dividend," said Steve Letbetter, chairman, president and chief executive officer. "The dividend declared today recognizes that upon the anticipated distribution of the company's interest in Reliant Resources, the remaining utility will be a smaller company than Reliant Energy is today."

Reliant Energy, based in Houston, Texas, is an international energy services and energy delivery company. The company has nearly 31,000 megawatts of power generation in operation in the U.S. and nearly 3,500 megawatts of power generation in Western Europe. Reliant Energy's retail marketing and distribution operations serve approximately 4 million electricity and natural gas customers. More information on Reliant Energy can be found on its web site at http://www.reliantenergy.com/ .

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SOURCE: Reliant Energy, Incorporated