Horizon Announcement Of Interim Dividend

MEDIACOM-HORIZON-ENERGY-DISTRIBUTION-LTD

HORIZON ANNOUNCEMENT OF INTERIM DIVIDEND

Directors of Horizon Energy Distribution Limited today resolved to pay a fully imputed interim dividend of 48 cents per share for the 31 March 2000 financial year. The dividend will be paid on 30 March 2000 to all shareholders who appear on the Company's register on Friday, 24 March 2000.

Company Chairman, Colin Holmes said current Company performance indicated a final dividend of a similar amount was likely to be paid to shareholders in June 2000.

The Company's balance date, which had previously been changed to 31 December, has reverted to 31 March following the sale of United Networks' majority shareholding in the Company to the Bay of Plenty Electricity Consumer Trust in December 1999.

J.E. BANKERS

General Manager

ENDS....

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