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August 19, 2010

Statement by Garden State Offshore Energy on Signing of Offshore Wind Economic Development Act

"The signing of the Offshore Wind Economic Development Act today is an important step towards the development of renewable energy resources. We applaud Governor Christie for his commitment to establishing offshore wind legislation that supports a new and robust industry.

“The potential of offshore wind energy is essential to the future economic growth of the state. We believe investing in wind power projects will generate significant environmental benefits for New Jersey and we look forward to working with the state to help create green jobs and boost the economy.”

Rob Gibbs, vice president, Garden State Offshore Energy, LLC (GSOE) and manager development – renewable energy, PSEG Global.

For more information, visit www.pseg.com.

Garden State Offshore Energy (GSOE) is a joint venture between PSEG Global and Deepwater Wind. GSOE has proposed a 350 megawatt wind farm more than 16 miles off the Southern New Jersey coastline. As part of a New Jersey Board of Public Utilities competitive process, The GSOE proposal was chosen by the state as the preferred offshore wind developer.

PSEG Global is a wholly owned-subsidiary of PSEG (NYSE:PEG), a diversified energy company based in Newark, NJ. For more information, visit www.pseg.com.

Deepwater Wind is a leading offshore wind developer with offices in Providence and New Shoreham, R.I and Hoboken, NJ. The Company is led by a veteran management team with extensive experience in developing renewable-energy projects in the northeastern United States. For more information, visit www.dwwind.com.