Great River Energy secures financing

Elk River, Minn. – On Friday, Dec. 1, 2006 Great River Energy closed on a new $600 million, 5-year senior unsecured syndicated revolving credit facility, co-led by National Rural Utilities Cooperative Finance Corporation (CFC) and JPMorgan Chase Bank. Additionally, KeyBank N.A. has the role of documentary agent.

Proceeds under the facility will be available for general corporate uses as well as for interim financing for Great River Energy’s capital expenditure program.

Great River Energy’s successful execution of this facility reflects such credit positives as its strong service territory, experienced management team, diverse power supply, favorable regulatory environment, low wholesale power costs, and long-term wholesale contracts with its members.

“This was Great River Energy’s first experience with the capital markets and it was highly successful,” said Great River Energy vice president and CFO, Larry Schmid.

Great River Energy ( www.greatriverenergy.com) is a not-for-profit electric generation and transmission cooperative providing wholesale electric energy and related services to 28 distribution cooperatives in Minnesota and Wisconsin serving more than 600,000 members, or approximately 1.7 million people. Great River Energy is the second largest power supplier in Minnesota, in terms of generating capacity, and the fourth largest utility of its type in the United States.

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