Wisconsin Energy Corporation Reaches Agreement to Sell Edison Sault Electric

MILWAUKEE, Oct. 29 /PRNewswire-FirstCall/ -- Wisconsin Energy Corporation
(NYSE: WEC) announced today that it has reached a definitive agreement to sell
Edison Sault Electric Company, one of its regulated utility subsidiaries, to
Cloverland Electric Cooperative of Dafter, Mich., for $61.5 million.

Under the agreement, the ownership share in American Transmission Company
(ATC) currently held by Edison Sault will be retained by Wisconsin Energy. The
purchase price represents a premium of approximately $2 million as compared to
the net book value of Edison Sault's assets, excluding the ATC ownership
share.

"This agreement is a positive step forward for customers of Edison Sault as
well as our stockholders," said Gale Klappa, president and chief executive
officer of Wisconsin Energy. "The service areas of Cloverland and Edison Sault
are contiguous. Both organizations know each other well and work together on a
daily basis. As a result, they'll be able to gain efficiencies that will
benefit customers across this region of northern Michigan."

Klappa added that Edison Sault has not requested a base rate increase in
almost 25 years. "Without this transaction, Edison Sault would have needed to
request higher retail rates in the not too distant future. The combination of
the two utility operations should allow these increases to be mitigated,"
Klappa said.

To assure a continuing, reliable source of energy for Edison Sault's
customers, the existing wholesale power arrangement between Wisconsin Electric
and Edison Sault will be extended by another 12 years to 2030.

Edison Sault has 59 employees and serves more than 22,000 customers in the
eastern U.P.

Proceeds from the sale will be used to help fund the construction of new
facilities and to reduce Wisconsin Energy's debt.

The sale is subject to approval by Cloverland's membership and is subject to
normal regulatory approvals, including reviews by the Michigan Public Service
Commission, the Federal Energy Regulatory Commission and the Rural Utility
Service, as well as customary closing conditions. Assuming timely approvals,
the transaction could be completed by mid-year 2010.

Wisconsin Energy Corporation (NYSE: WEC), based in Milwaukee, is one of the
nation's premier energy companies, serving more than 1.1 million electric
customers in Wisconsin and Michigan's Upper Peninsula and more than 1 million
natural gas customers in Wisconsin. The company's principal utilities are We
Energies and Edison Sault Electric. The company's other major subsidiary, We
Power, designs, builds and owns electric generating plants.

Wisconsin Energy Corporation (www.wisconsinenergy.com), a component of the S&P
500, has more than $12 billion of assets, approximately 5,000 employees and
48,000 stockholders of record.

Established in 1938, Cloverland Electric Cooperative is a not-for-profit
utility located in Michigan's Upper Peninsula delivering safe, reliable and
affordable electricity to approximately 19,500 homes and businesses in
Chippewa, Mackinac, Luce, and Schoolcraft counties. The cooperative is
headquartered in Dafter and maintains district offices in DeTour and Newberry.
In addition to its principal electric business, Cloverland Electric operates a
Lighthouse.Net, a wholly-owned subsidiary providing broadband service to the
Upper Peninsula. For more information, visit www.cloverland.com.

Forward-Looking Statements

Certain statements contained herein are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based upon management's current expectations and are subject to
risks and uncertainties that could cause actual results to differ materially
from those contemplated in the statements. Readers are cautioned not to place
undue reliance on these forward-looking statements. Forward-looking
statements include, among other things, statements concerning management's
expectations and projections regarding the timing of completion of the sale.
In addition to the assumptions and other factors referred to specifically in
connection with these statements, factors that could cause actual results to
differ materially from those contemplated in any forward-looking statements
include, among others, delays in receiving the regulatory approvals necessary
for closing, timely satisfaction of the closing conditions to which the sale
is subject and other factors described under the heading "Factors Affecting
Results, Liquidity and Capital Resources" in Management's Discussion and
Analysis of Financial Condition and Results of Operations and under the
headings "Cautionary Statement Regarding Forward-Looking Information" and
"Risk Factors" contained in Wisconsin Energy Corporation's Form 10-K for the
year ended Dec. 31, 2008 and other factors described in Wisconsin Energy's
subsequent reports filed with the Securities and Exchange Commission. In some
cases, forward-looking statements may be identified by reference to a future
period or periods or by the use of forward-looking terminology such as
"anticipates," "believes," "estimates," "expects," "forecasts," "guidance,"
"intends," "may," "objectives," "plans," "possible," "potential," "projects"
or similar terms or variations of these terms. We expressly disclaim any
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

SOURCE Wisconsin Energy Corporation

Barry McNulty of Wisconsin Energy Corporation, +1-414-221-4444