Southern Union delays remarketing notes underlying equity units

New York, May 5 - Southern Union Co. said it is delaying the remarketing of the 2.75% senior notes due Aug. 16, 2006 underlying its equity units.

The initial remarketing period was to have been May 11 but will now be rescheduled.

Each equity unit consists of $50 principal amount of the notes and a forward stock purchase contract requiring the holder to buy stock on Aug. 16.

Southern Union, a Houston-based natural gas transportation, storage and distribution company, issued $125 million of the units in June 2003.

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