At Entergy, we are prepared with the tools we need to meet whatever challenges the future holds. Our aspirations, point-of-view-driven business model, experienced employees and commitment to sustainable development drive our success. We enter 2009 with a full slate of ambitions and commitments.

Safety and Environmental Commitments

We will strive to achieve an accident-free work environment at every work location by remaining focused on building the appropriate culture, systems and behaviors. We will maintain safety programs that emphasize employee participation, regular self-evaluation and a comprehensive approach to consistently meet performance-based criteria. Entergy work sites will be encouraged, but not required, to apply for certification under the Occupational Safety and Health Association’s Voluntary Protection Program.

We will continue to execute against our five-year comprehensive strategic safety plan and its six initiatives. The plan targets a 50 percent reduction in Lost Work Day Incident Rate performance and an enhanced focus on eliminating all fatalities. As teams for each of the initiatives identify best practices and gaps in our performance, we will implement safety programs to close those gaps.

We will strive to be the cleanest power generator in America – one that voluntarily limits its greenhouse gas emission levels and conserves natural resources in as many ways as possible. To that end, we will continue to execute against our comprehensive environmental plan, which is focused on voluntarily stabilizing our greenhouse gas emissions, coastal restoration, energy efficiency, environmental community improvements and recycling.

We will continue to invest in our clean generation portfolio by preserving our option for new nuclear development and pursuing investments in assets that are efficient and provide lower cost alternatives for our utility customers. We will also pursue opportunities to explore renewable energy sources such as solar, wind and hydro power.

We will work with policy makers to establish a smart carbon policy in the United States that includes finding a fix for conventional coal plants, the single largest source of global greenhouse gas emissions. We will advocate aggressively for action on the climate change issue, which we believe is one of the most important challenges our society faces.

Low-Income and Social Responsibility Commitments

We aspire to break the cycle of poverty and contribute to a society that is healthy, educated and productive. Our Low-Income Initiative will continue to focus on assisting needy customers and breaking the cycle of poverty by:

• Improving the flow of funds to low-income customers by advocating for funding for the federal Low Income Home Energy Assistance Program and raising customer assistance funds under our systemwide Power to Care program.
• Helping customers better manage their energy use through weatherization and conservation
  education efforts.
• Moving customers toward self-sufficiency by educating them about available benefits such as the Earned Income Tax Credit, supporting innovative programs like Individual Development Accounts program with the Foundation for the Mid South, and funding education and job-training programs and research.

More detail on the specific initiatives we will use to meet our low-income commitments is available in our Low-Income Initiative Progress Report.

We will support and strengthen the communities we serve through corporate giving, employee giving and volunteerism. Our corporate giving is focused on educational and environmental initiatives as well as efforts to assist people living in poverty.

We will support the development of an engaged and diverse work force. We are committed to providing our employees with opportunities to grow and reach their full potential. We are committed to building an inclusive work environment that values the contributions and talents of each individual.

Financial Commitments

After completion of the spin-off of our non-utility nuclear assets, each company – Entergy, Enexus and EquaGen – will aspire to deliver superior value to its owners. Aspirations through 2012 include:

• Entergy aspires to 6 to 8 percent annual earnings per share growth, a 70 to 75 percent dividend payout ratio target, and capacity for a new share repurchase program targeted at $2.5 billion, $0.5 billion of which has already been authorized by the Entergy Board of Directors, with the balance to be authorized and to commence following completion of the spin-off.
• Enexus aspires to $2 billion in earnings before interest, income taxes, depreciation and amortization and interest and dividend income by 2012 (assumes an average power price on open positions of roughly $95/MWh on existing plants or deployment of capital resulting in additional earnings potential) generating cash flow for investment, which would create additional earnings before interest, income taxes, depreciation and amortization and interest and dividend income; debt repayment capacity and/or distributions through share repurchases in the range of up to $0.5 billion to $1 billion annually.
• EquaGen aspires to safe, secure and industry-leading nuclear operational performance. EquaGen will operate Enexus plants and the Cooper Nuclear Station, and will provide certain technical services and the Chief Nuclear Officer to Entergy following the spin-off. In addition, EquaGen expects to pursue growth opportunities by offering nuclear services including plant operations, decommissioning and relicensing to third parties.

The amount of repurchases may vary as a result of material changes in business results or capital spending or new investment opportunities. Entergy and Enexus acknowledge that limitations presented by the current credit markets, as well as depressed power prices in markets where Enexus sells power, create implications for near-term financing plans and financial results. Should these conditions extend for a prolonged period, financial aspirations would likely be affected. At the same time, current market conditions also create potential capital deployment opportunities for companies with ample liquidity which in turn creates opportunity to grow earnings before interest, income taxes, depreciation and amortization and interest and dividend income

Adaptable, Resilient and Prepared

Even with an ambitious agenda defined for the future, we recognize there are challenges that will likely complicate our plans. Events have proven time and again that Entergy is resilient. We adapt. No matter the challenges ahead, we will finish the job.

Challenges Well Met

Recognition Earned by Our Sustainability Efforts

Carbon Disclosure Project – Climate Leadership Index

Entergy was named to the Climate Disclosure Leadership Index in 2008, a prestigious honor roll for global corporations addressing the challenges of climate change. It was the fifth consecutive year we have received this recognition.

Corporate Responsibility Officer Magazine –
100 Best Corporate Citizens

Entergy was named one of the 100 Best Corporate Citizens for 2008 by Corporate Responsibility Officer Magazine. Entergy finished 17th in the 10th annual ranking of U.S.-based corporate citizens based on the weighted average of rankings in eight categories: climate change, employee relations, environment, financial, governance, lobbying, human rights and philanthropy.

Dow Jones Sustainability Index 2008-2009

For the seventh time, the Dow Jones Sustainability Indexes again named Entergy Corporation to its exclusive Dow Jones Sustainability World Index and Dow Jones Sustainability North American Index. Entergy was the only U.S. utility selected to the world index for the third consecutive year.

Edison Electric Institute’s Advocacy Excellence Award

Entergy was honored for its Low-Income Initiative, a variety of programs aimed at helping the 20 to 30 percent of Entergy customers living in poverty in Arkansas, Louisiana, Mississippi and Texas.

Edison Electric Institute’s Emergency Assistance Award and Emergency Recovery Award

Entergy received both awards for restoring power following extreme storms in 2008. Entergy is the only company to receive either EEI’s Emergency Assistance Award and/or Emergency Recovery Award every year since the awards were first presented in 1999.

Edison Electric Institute’s Outstanding Achievement Award

Entergy’s EnPower group was recognized for its grassroots nuclear advocacy efforts in combating additional taxes proposed for the company’s New York nuclear plants. EnPower rallied employees to contact legislators to voice their opinion on a proposed additional $13 million tax on the plants.

Edison Electric Institute’s Supplier Diversity Leadership Award

Entergy’s director and manager of Supplier Diversity were recognized in 2008 for more than 24 years of leadership, contribution and commitment to the advancement of diverse business suppliers and the Edison Electric Institute’s Supplier Diversity Initiative.

Forbes List of America’s Most Trustworthy Companies

In 2008, for the second straight year, Entergy was named to the list of America’s Most Trustworthy Companies for its corporate governance practices and accounting transparency. Forbes publishes the list annually.

GovernanceMetrics International

GovernanceMetrics International has assigned Entergy with an overall global rating of 10.0 for best-in-class corporate governance. GMI reviewed 4,200 total companies, and Entergy was one of only 42 companies to achieve a perfect score. Formed in April 2000, GMI independently evaluates governance characteristics of companies and operates under the philosophy that companies emphasizing governance and transparency will, over time, generate superior returns and economic performance.

Magellan Platinum Award for Employee Communications

Entergy was recognized for its communication of a new and improved Community Connectors program to employees. Community Connectors encourages employee volunteerism by enabling participants to earn up to three $250 grants each year for the nonprofit organizations of their choice by completing 20 hours of service per grant.

Platts Global Energy Awards – Award of Excellence

Entergy received a special Award of Excellence at the 10th annual Platts Global Energy Awards for its “extraordinary track record of standout performances year after year” over the past decade. Entergy, one of only four companies worldwide to receive the special award, was cited for being a finalist 39 times in the Platts Global Energy Awards contest, far more than any other energy company.

Volunteers of America –
Outstanding Community Service Award

Entergy received this award in 2008 in recognition of its leadership and support of the New Orleans community. In particular, Entergy was recognized for its funding of an after-school program for at-risk youth in the Ninth Ward and for grants to help rebuild facilities to house adults overcoming addiction.