DES MOINES, Iowa, Oct 09, 2008 (BUSINESS WIRE) -- MidAmerican Energy Holdings Company today made regulatory filings with
the U.K. Financial Services Authority and the Commission of the European
Communities regarding its proposed merger with Constellation Energy
(NYSE: CEG). An Application for Change in Controller was filed with the
Financial Services Authority, and a Short Form Notification of a
Proposed Concentration was submitted to the Commission of the European
Communities.

"These filings further advance our plan to
achieve prompt shareholder and regulatory approvals for our merger with
Constellation Energy," said Gregory E. Abel,
president and chief executive officer of MidAmerican. "This
merger will bring needed long-term financial stability to Constellation
Energy."

On Sept. 19, MidAmerican and Constellation Energy reached a definitive
merger agreement in which MidAmerican will purchase all of the
outstanding shares of Constellation Energy for a cash consideration of
approximately $4.7 billion, or $26.50 per share. The definitive
agreement has been approved by both companies'
boards of directors and is subject to, among other things, shareholder
and customary regulatory approvals.

About MidAmerican Energy Holdings Company

MidAmerican Energy Holdings Company, based in Des Moines, Iowa, is a
global provider of energy services. Through its energy-related business
platforms, MidAmerican provides electric and natural gas service to more
than 6.9 million customers worldwide. These business platforms are
Pacific Power, Rocky Mountain Power and PacifiCorp Energy, which
comprise PacifiCorp; MidAmerican Energy Company; Northern Electric and
Yorkshire Electricity, which comprise CE Electric UK; Northern Natural
Gas Company; Kern River Gas Transmission Company; and CalEnergy.
Information about MidAmerican is available at www.midamerican.com.

Forward-Looking Statements and Additional Information

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements relating to the proposed
transaction between Constellation Energy and MidAmerican Energy Holdings
Company and the expected timing and completion of the transaction. Words
such as "anticipate,"
"believe," "plan,"
"estimate," "expect,"
"intend," "will,"
"should," "may"
and other similar expressions are intended to identify forward-looking
statements. Such statements are based upon the current beliefs and
expectations of our management and involve a number of significant risks
and uncertainties, many of which are difficult to predict and generally
beyond the control of Constellation Energy and MidAmerican. Actual
results may differ materially from the results anticipated in these
forward-looking statements. The following factors, among others, could
cause or contribute to such material differences: the ability to obtain
the approval of the transaction by Constellation Energy's
shareholders; the ability to obtain governmental approvals of the
transaction or to satisfy other conditions to the transaction on the
terms and expected time frame or at all; transaction costs; economic
conditions; and the effects of disruption from the transaction making it
more difficult to maintain relationships with employees, customers,
other business partners or government entities. Additional factors that
could cause our results to differ materially from those described in the
forward-looking statements can be found in the 2007 Annual Report on
Form 10-K for the year ended December 31, 2007, filed with the
Securities and Exchange Commission and in the proxy statement
Constellation Energy intends to file with the Securities and Exchange
Commission and mail to its shareholders with respect to the proposed
transaction, each of which are or will be available at the Securities
and Exchange Commission's Web site (http://www.sec.gov)
at no charge.

This communication is being made in respect of the proposed merger
transaction involving Constellation Energy and MidAmerican Energy
Holdings Company. In connection with the proposed transaction,
Constellation Energy will file with the Securities and Exchange
Commission a proxy statement and will mail the proxy statement to its
shareholders. Shareholders are encouraged to read the proxy statement
regarding the proposed transaction when it becomes available because it
will contain important information. Shareholders will be able to obtain
a free copy of the proxy statement, as well as other filings made by
Constellation Energy regarding Constellation Energy, MidAmerican Energy
Holdings Company and the proposed transaction, without charge, at the
Securities and Exchange Commission's Web site
(http://www.sec.gov).
These materials also can be obtained, when available, without charge, by
directing a request to Constellation Energy per the investor relations
contact information below.

Constellation Energy, MidAmerican Energy Holdings Company and their
respective directors and executive officers and other persons may be
deemed to be participants in the solicitation of proxies in respect of
the proposed transaction. Information regarding Constellation Energy's
directors and executive officers is available in Constellation Energy's
notice of annual meeting and proxy statement for its most recent annual
meeting and Constellation Energy's Annual
Report on Form 10-K for the year ended December 31, 2007, which were
filed with the Securities and Exchange Commission February 27, 2008, and
April 29, 2008, respectively. Other information regarding the
participants in the solicitation and a description of their direct and
indirect interests, by security holdings or otherwise, will be contained
in the proxy statement and other relevant materials to be filed with the
Securities and Exchange Commission.

SOURCE: MidAmerican Energy Holdings Company

MidAmerican Energy Holdings Company 
Sara Schillinger/Ann Thelen, 515-281-2785

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