ScottishPower is pleased to announce that, at the Extraordinary General Meeting held today at 11:00 a.m, the following special resolution was duly passed and the result of the poll on the resolution is shown below.

The share premium account be reduced by £1,500 million and the directors authorised to do all that is necessary to implement the share premium reduction.

• For:
  880,951,095 shares
  97.29% (of the shares voted) 
• Against:
  24,559,997 shares
  2.71% (of the shares voted)

Accordingly ScottishPower is proceeding to make application to the Court of Session in Edinburgh for confirmation of the reduction of the share premium account.
It is hoped that the court hearing will take place and the reduction will become effective on 5 March 2002

Further Enquiries:
ScottishPower
Colin McSeveny                                                             0141 636 4515
Andrew Jamieson                                                         0141 636 4527