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| | Black Hills Corporation, et al.; Rel. No. 35-27931 / December 28, 2004 |
 | | Black Hills' P/E ratio, as of December 6, 2004, was 21.8 compared to the average for utilities in the Standard and Poor's Electric Utility Index of 15.3. |
 | | Black Hills states that, to the extent that it provides funds to an Intermediate Subsidiary for investment in an EWG, FUCO or a Rule 58 Subsidiary or other investment, the amount will be included in Black Hills' Aggregate EWG/FUCO Financing Limit or other applicable financing limit, as the case may be. |
 | | Black Hills defines Energy-Related Assets to include oil and natural gas production, gathering, processing, storage and transportation facilities and equipment, liquid oil reserves and storage facilities, and associated facilities that will be incidental to and assist Black Hills' Nonutility Subsidiaries in connection with their marketing, brokering and trading activities. |
| www.sec.gov /divisions/investment/opur/filing/35-27931.htm (8308 words) |
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