PSEG s Commitment to New Jersey Continues GIVING BACK. PSEG s Commitment to New Jersey Continues...

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1 PSEG s Commitment to New Jersey Continues GIVING BACK PSEG s Commitment to New Jersey Continues

2 GIVING SUMMARY PSEG FOUNDATION GIVING $3,600,000 CORPORATE GIVING $2,300,000 EMPLOYEE GIVING $675,000 SPONSORSHIPS $1,800,000 INVESTMENT IN ECONOMIC DEVELOPMENT $600,000 More than one hundred years of caring and giving back to the communities we serve: PSEG s Commitment to New Jersey

3 PERCENT TOTAL BY ORGANIZATION TYPE HEALTH & HUMAN SERVICES 28% CIVIC & COMMUNITY 21% PSEG has a proud tradition of caring for New Jersey s people and communities This tradition extends for more than 100 years to our company s founding in 1903 It is reflected in many activities that make life better for people and communities across the state Each year, PSEG and its employees invest millions of dollars and thousands of hours to improve the quality of life in New Jersey Service to customers and the community go together at our company 3 EDUCATION 30% OTHER 1% CULTURE & THE ARTS 18% The energy industry has changed rapidly in recent years, as has PSEG Yet our commitments to New Jersey and Newark, our headquarters city, remain as strong as ever PSEG owns and operates New Jersey s premier utility, PSE&G, which provides essential energy services to nearly three quarters of the state s households PSE&G s sister company, PSEG Power, generates most of the electricity produced in the state New Jersey is where most of our employees live and work and proudly call home Our company s future is closely linked to New Jersey s We believe it is important to invest not only in the continued safety and reliability of the state s leading utility network and infrastructure, but also in New Jersey s diverse and rich human resources Reflecting our company s large urban presence, we work in many ways to promote the health and well being of New Jersey s cities and their residents At PSEG, we have focused our commitment to New Jersey on areas that contribute to the longterm success of our company and the state: Education, the Environment, Community and Economic Development, Urban Initiatives, and Children and Families As you will see in the pages that follow, we are making sizable investments in these areas 2003 PSEG FOUNDATION & PSEG CORPORATE CONTRIBUTIONS category corporate* foundation matching gifts total CIVIC & COMMUNITY $193,484 $706,640 $900,124 Finally, I want to recognize our Employees in the Community They are heroes in their dedication on the job and in their devotion to help their neighbors and communities in many volunteer capacities as well New Jersey derives great strength not only from its vibrant economy, but also from the active tradition of caring that exists here PSEG is proud to build on this tradition in partnership with people and organizations that are committed to community improvement Together, we are promoting an even brighter future for New Jersey and its people HEALTH & HUMAN SERVICES $145,121 $1,023,433 $1,168,554 CULTURE & THE ARTS $49,500 $720,427 $769,927 EDUCATION $92,190 $709,150 $429,317 $1,230,657 OTHER total $3,000 $483,295 $21,900 $3,181,550 $429,317 $24,900 $4,094,162 E James Ferland CHAIRMAN, PRESIDENT AND CEO, PSEG * does not include PSEG support of fundraising events

4 New Jersey s continued success depends on the knowledge and skills of the next generation That is why PSEG contributes approximately $15 million EXPANDING OPPORTUNITY AND PREPARING THE FUTURE WORKFORCE each year to educational programs and institutions in New Jersey 4 EDUCATION PROMOTING CAREER AWARENESS AND SKILLS DEVELOPMENT PSEG supports programs that expand career opportunities for urban youth and that encourage students to develop career skills Through the Energy Utility Technology degree program, which PSEG launched in partnership with Mercer County Community College, qualified students can combine their education with internships and specialized training at our company Several graduates of the program have joined PSEG as fulltime employees Based on this initial success, PSEG created a similar program with Essex County College In addition, PSEG supports precollege programs at institutions such as the New Jersey Institute of Technology and Rutgers University and funds educational initiatives sponsored by nonprofits such as Episcopal Community Development, The Newark Museum, Teach for America, Seton Hall University s Institute on Work, Junior Achievement, WEB DuBois Scholars Institute, Workforce Investment Boards, Heart of Camden and The Aurora Foundation 5 INROADS A national training and career development program, INROADS works with businesses to provide challenging internship opportunities for highpotential minority college students PSEG has participated in the INROADS program for more than two decades and hired several individuals through the program GRANTS FOR TEACHERS PSEG promotes learning about science, technology and the environment For example, our Environmental Education Grant Program (wwwpsegcom/eegrants) inspires teachers to develop new, interdisciplinary approaches to learning Since 1991 we have awarded over $233,000 in competitive grants to 103 classroom teachers through this program, which originated in partnership with the New Jersey Business/Industry/Science Education Consortium (NJ BISEC) INTERNSHIPS AND SCHOLARSHIPS PSEG has partnered with a broad range of New Jerseybased nonprofits and educational institutions to provide internships and scholarships for college students Examples include the Foundation for the Center for Hispanic Policy, Research and Development, Rutgers University, National Merit Scholarship, United Negro College Fund, Rutgers Governor s School, New Jersey County Colleges, New Jersey Martin Luther King Jr Commemorative Commission,The Washington Center,The College of New Jersey and Thomas Edison State College SUPPORTING EDUCATIONAL EXCELLENCE IN NEW JERSEY PSEG has been a longstanding partner in initiatives that promote educational excellence We have worked with the Business Coalition for Educational Excellence, New Jersey Association for Partners in Education, the New Jersey Business and Industry Association s Education Committee, the Foundation for Educational Administration and others PSEG has pioneered utility technology degree programs in New Jersey to create practical career pathways for urban youth and to meet the company s future workforce needs

5 PSEG is an industry leader in demonstrating that environmental stewardship and business success can go together Our environmental DEMANDING INDUSTRY LEADERSHIP 6 programs and partnerships are benefiting New Jersey s waterways, recreational areas and open spaces from the shores of Delaware Bay to the state s northern highlands and enhancing urban environments as well MAKING PROGRESS TOWARD CLEANER AIR PSEG is a longtime industry leader in supporting responsible environmental policies including tough national emissions standards In 1993 PSEG became the first company in the nation to accept the Climate Change Challenge, under which we set and achieved a goal of stabilizing greenhouse gas emissions at 1990 levels by the year 2000 In January 2004, we voluntarily set a new fiveyear goal to reduce the rate of greenhouse gas emissions from our US fossilfuel plants by 18 percent below 2000 levels We have been active in using stateoftheart technologies to dramatically reduce emissions and other environmental impacts in New Jersey and elsewhere 7 ENVIRONMENT CONSERVING AND RECYCLING RESOURCES PSEG s recycling and wastereduction practices have avoided thousands of tons of equivalent emissions and extended the life of materials to serve the community For example, through our Computer Recovery Program we donate refurbished computers to schools, training centers and nonprofit organizations in New Jersey The US Environmental Protection Agency inducted PSEG into its Waste Wise Hall of Fame, and the New Jersey Department of Environmental Protection also has recognized PSEG s leadership in recycling REMEDIATION OF FORMER GAS PLANT SITES Working together with the New Jersey Board of Public Utilities and the New Jersey Department of Environmental Protection, PSEG is continuing its leadership in the cleanup and restoration of sites where gas was manufactured from coal An outstanding example of this work can be seen at the site of the former Princeton Gas Works The site has been remediated, and a new library, park and housing have been built adjacent to it to benefit the community ENHANCING COASTAL ENVIRONMENTS In Salem County, New Jersey, and nearby Delaware, PSEG s Estuary Enhancement Program (EEP) has created the nation s largest protected wetlands area Through EEP, more than 20,000 acres of marsh and uplands along Delaware Bay are being enhanced and/or restored, improving habitats for fish, crabs and other marine life SUPPORTING ENVIRONMENTAL ORGANIZATIONS PSEG has provided support for such organizations as the Greater Newark Conservancy, the New Jersey Audubon Society, Hackensack Riverkeeper, Inc and Ducks Unlimited, Inc And our employees are leveraging this support through their volunteer activities Over many years, PSEG volunteer teams have built nests for ospreys, wood boxes for ducks and homes for other wildlife in the New Jersey Meadowlands They have assisted with river cleanups and planted vegetation to attract native bird species to cite just a few of the ways they have helped the environment PSEG supports organizations such as the American Lung Association that educate people about environmental factors affecting human health Through this partnership PSEG helps fund Camp SuperKids, which primarily serves urban children with asthma or other lung ailments

6 PSEG s utility infrastructure is a backbone of New Jersey s position as a leading center of business innovation PSEG works closely with PROMOTING ECONOMIC GROWTH AND PROSPERITY organizations across New Jersey s public and private sectors to leverage the state s economic strengths and help New Jersey thrive and prosper 8 AREA DEVELOPMENT SERVICES PSEG is a valued resource for businesses expanding in, and relocating to, New Jersey We continue to offer free, expert economic development assistance by providing information to help companies address such relocation concerns as demographics, taxes, labor, transportation, incentives, permitting and regulatory issues 9 COMMUNITY and ECONOMIC DEVELOPMENT We work closely with real estate professionals to assist clients with all aspects of the site selection process Our goal is to make the entire process as seamless as possible and produce customized solutions and onestopshopping advantages for client firms NEW JERSEY BIOTECHNOLOGY AND LIFE SCIENCES COALITION PSEG is a sponsor and founding member of the New Jersey Biotechnology and Life Sciences Coalition This group links industry, academia and government to augment New Jersey s position as a leader in science and technology SUPPLIER DIVERSITY PSEG has a large network of business relationships with minority and womenowned companies reflecting our company s strong and active commitment to diversity Over the last twenty years, PSEG has done more than $1 billion of business with minority and womenowned firms Since 1997, PSEG s annual expenditures with these firms have ranged from 8 to 10 percent of all spending with external suppliers a level well above the industry average PSEG s supplier diversity efforts have been recognized by several organizations, including the New Jersey Board of Public Utilities A diverse supplier base not only helps us meet our own business needs more effectively, but encourages job creation and strengthens the economy COMMUNITY DEVELOPMENT PSEG partners with many local community development organizations to improve the quality of life in New Jersey s cities These partnerships involve a wide range of programs and activities related to neighborhood development, housing, employment training and other areas that ultimately help attract new investors and jobs We collaborate with organizations such as Cooper s Ferry Development Association, Inc, New Brunswick Tomorrow, La Casa de Don Pedro, Fairmount Housing Corporation, and the New Jersey Community Development Corporation PSEG also has funded the Walt Whitman Arts Center (WWAC) in Camden In collaboration with five partners from Camden, WWAC is implementing a new Storefronts Project, bringing arts programs and artists into the heart of Camden neighborhoods As part of this project, abandoned or underutilized properties and community facilities will be converted into vibrant, walkin satellite arts centers PSEG worked closely with Diane Drei, president of a familyowned water bottling company, to help her business relocate to Jersey City PSEG has a long history of spurring job creation in New Jersey through its area development activities

7 PSEG recognizes that our success as a company is closely linked to the health and vitality of New Jersey s cities PSEG s Urban Initiative is a holistic HELPING PEOPLE HELP THEMSELVES 10 approach to neighborhood revitalization, driven by strong partnerships and aimed at creating wealth from within communities to move them toward selfsufficiency SOUTH WARD NEIGHBORHOOD PARTNERSHIP PSEG spearheaded the South Ward Neighborhood Partnership in Newark, a coalition of more than 50 organizations committed to neighborhood revitalization The Partnership coordinates public, private and nonprofit resources to bring fundamental change to a neighborhood For its role with the Partnership, PSEG was honored with the Ron Brown Award for Corporate Leadership In addition, the International Economic Development Council has cited the South Ward initiative as a role model for urban economic development 11 URBAN INITIATIVES PARTNERING IN WEED AND SEED As part of the South Ward initiative, PSEG has partnered with local agencies in Weed and Seed, a program introduced by the US Department of Justice that provides a multipronged approach to law enforcement, crime prevention and community revitalization This residentdriven, collaborative effort has focused initially on Newark s Clinton Hill section BUILDING ON PROGRESS PSEG has expanded our urban initiatives across New Jersey The success of the South Ward Neighborhood Partnership created a template for change, and other inner cities are now reaping the benefits As in the South Ward, the goal of our statewide initiative is to bring fundamental change to underresourced neighborhoods We are working with the Housing and Community Development Network of New Jersey to implement a comprehensive community planning initiative This will help us expand the scope of the program to specific neighborhoods in other cities, including Camden, Jersey City, Orange, Paterson and Trenton We will use a similar holistic approach to address education, social services, housing, economic development, public safety and environmental issues COMMUNITY DEVELOPMENT TOOL KIT In partnership with the New Jersey Public Policy Research Institute at Rutgers University, PSEG has developed The Community Development Tool Kit as a resource for startup organizations and persons committed to working in their neighborhoods to improve conditions The six topics in the tool kit include: Facing Issues and Discovering Assets; Starting and Formalizing Your Organization; Building Organizational Leadership; Mobilizing Communities; Keeping the Momentum; and Resources FAITHBASED INITIATIVES Communities of faith play a key role in neighborhoods PSEG has supported New Jersey s FaithBased Training Institute, a publicprivate partnership program run by The Center for NonProfit Corporations Hundreds of faithbased organizations throughout the state have benefited from the program s capacitybuilding workshops Their new Habitat for Humanity home is a dream come true for these parents of a young Newark family Located in the city s Central Ward, the home was funded by the PSEG Foundation and built in significant part by PSEG employee volunteers

8 PSEG is committed to building a better future for New Jersey s children and their families In 2003, we contributed $3 million to programs that benefit HELPING BUILD A BETTER FUTURE them This investment is designed to help young people get a good start in life, and empower parents and other adults who provide care for children 12 PARTNERING TO SUPPORT NEW JERSEY S CHILDREN We collaborate with nonprofit programs that focus on the well being of children and their families Some of the many organizations we consistently support include Kids Corporation, YMWCAs, Boys and Girls Clubs, Big Brothers and Big Sisters, Newark Day Center s Fresh Air Fund, Communities in Schools, New Jersey Harvest of Hope Family Services Network, Paterson Education Fund, Youth Consultation Services and Youth Organization of America 13 CHILDREN and FAMILIES HELPING FAMILIES PSEG works to strengthen New Jersey s families by supporting organizations such as the Association for Children of New Jersey, the Young Fathers Program at the University of Medicine and Dentistry of New Jersey, the Statewide Parent Advocacy Network, United Ways, The AntiPoverty Network of New Jersey, the Housing and Community Development Network of New Jersey, New Jersey Hospice, Babyland Family Services, the Center for Food Action and Clergy United Community Development Corporation INCREASING AWARENESS OF ENERGY ASSISTANCE PROGRAMS PSE&G provides customers in need with options to help them pay their gas and electric bills Annually, more than 200,000 PSE&G customers receive financial assistance through the Low Income Home Energy Assistance Program (LIHEAP), NJ Lifeline, the Universal Service Fund and NJ SHARES PSE&G partners with community and faithbased organizations and government agencies to build awareness about assistance programs and increase participation INVESTING IN QUALITY AFTERSCHOOL PROGRAMS PSEG is playing a leadership role in a new publicprivate partnership to expand highquality, enriching afterschool programs across New Jersey Called New Jersey After 3, Inc, this organization is designed to help ensure that schoolage children have a safe, protective place to go after school until parents or guardians come home from work IMPROVING SAFETY PSE&G, in cooperation with its unions, established the ChildWatch program to offer the assistance of PSE&G employees to youngsters who become hurt, lost or feel endangered Our trucks and vans have twoway radios, so our employees can call for emergency help Also, PSE&G s traveling Energy Safety Van visits groups of children during the summer, bringing important messages about electric and natural gas safety We support organizations such as Prevent Child Abuse, Police Athletic Leagues, the New Jersey State Safety Council, and National Stop the Violence Alliance, Inc The PSEG Foundation also pledged $250,000 over five years to American Red Cross chapters in PSE&G s service area to support disaster victims and alleviate blood shortages PSEG has provided funding to assist the Princeton Center for Leadership Training with their Trenton Family and School Prevention Partnership This program focuses on teaching positive behaviors to elementary school students

9 PSEG s corporate citizenship is about involvement PSEG employees donate countless hours of their time to tutor children, serve meals at soup CARING FOR PEOPLE, SERVING COMMUNITIES 14 kitchens and raise money for philanthropic endeavors Our employee volunteers are heroes to their communities PSEG is proud to encourage and reward their efforts EMPLOYEES in the COMMUNITY EMPLOYEE GIVING Over many years PSEG has been actively sponsoring major employeegiving initiatives These include: THE EDUCATIONAL MATCHING GIFT PROGRAM: Through this program, employees donate funds to colleges and universities throughout the country and to private, accredited secondary schools in New Jersey Contributions are matched dollar for dollar by PSEG Approximately $1 million has been donated each year to educational institutions through the combined giving of this program THE POWER OF GIVING CAMPAIGN: Through this annual fundraising effort, PSEG employees collectively contribute over $500,000 to a wide range of nonprofit organizations MARCH OF DIMES: For the last two decades, hundreds of PSEG employees have participated in the March of Dimes annual WalkAmerica fundraising event to benefit the health of babies and mothers PSEG has been a longtime leader among the nation s utilities in supporting this important cause 15 GRANTS FOR VOLUNTEERS Through PSEG s annual Recognizing Excellence in Volunteerism program, the company provides competitive grants ranging from $1,000 to $10,000 to qualified nonprofit organizations on behalf of our exemplary volunteers The company also provides Dollars for Doers grants, at $250 each, to nonprofit organizations where our employees donate at least 50 hours of their time in a year The nonprofits receiving grants are as diverse as the employees who support them MENTORING SCHOOL CHILDREN PSEG employees provide leadership for youth in a wide range of volunteer capacities throughout New Jersey For example, PSEG employees have served as tutors, mentors and role models to Newark elementary school students through the Downtown Educational Enrichment Program (DEEP C) sponsored by Protestant Community Centers, Inc Over two decades, hundreds of Newark school children have benefited from this program PSEG employee volunteers have brought their knowledge and experience to the classroom through a longstanding partnership with Junior Achievement At BelmontRunyon School in Newark, they have helped students learn basic economic principles, including the ABCs of building a business SUPPORTING VOLUNTEER DRIVES AND PROJECTS In partnership with organizations such as Jersey Cares, Inc and the Northern New Jersey Business Volunteer Council, PSEG employees organize corporatesponsored drives to help families and children with basic needs These volunteers collect thousands of food items, warm coats and school supplies, as well as new books for children enrolled in Head Start Many also contribute directly to literacy campaigns and efforts in disadvantaged communities Children enjoy a safe place to play because of a volunteer project led by PSEG Nuclear employee Jon Rogozinski and supported by the company The project restored a park that primarily serves the residents of public housing in Salem, New Jersey

10 PSEG S STRATEGIC CONTRIBUTIONS PROGRAM PSEG 2003 New Jersey Data 16 PSEG s Strategic Contributions Program is designed to address and support three major areas of philanthropic priority programs that assist New Jersey s Children and Families, Community and Economic Development and the Environment PSEG supports educational efforts within each of these three broad categories and places an emphasis on programs targeting urban areas In addition to these priority areas for philanthropic counties gas PSE&G CUSTOMERS electric total PSEG NJ employees PSEG shareholders PSEG vendors PSEG vendors spending ($) PSEG charitable contributions ($) 17 support, PSEG also considers the following: LOCATION: Preference is given to organizations located within New Jersey, and more specifically where PSEG operates ATLANTIC BERGEN 314, , , , $336,901 $94,786,770 $500 $111,650 SCOPE: Funding varies depending on the scope of the organization s activities and the number of people it benefits BURLINGTON CAMDEN 116,430 96, , , , , ,396 3, $15,841,667 $24,749,792 $54,600 $191,470 CAPE MAY $10,948 $4,400 For more information on funding guidelines for PSEG and the PSEG Foundation, please visit our website at CUMBERLAND $1,163,604 $21,500 wwwpsegcom/funding ESSEX 255, , ,466 1,208 10, $103,912,764 $1,159,368 GLOUCESTER 15,293 30,663 45, , $6,950,187 $10,500 HUDSON 205, , , , $8,684,252 $641,785 HUNTERDON 4, , , $1,787,142 $5,000 MERCER 107, , , , $15,378,771 $383,045 MIDDLESEX 167, , , , $27,232,978 $318,545 MONMOUTH 4,890 1,492 6, , $6,063,600 $6,402 MORRIS 66, , , $13,298,166 $107,500 OCEAN 1,260 1, , $2,057,793 $3,612 PASSAIC 153, , , , $4,560,852 $29,775 SALEM $3,636,837 $79,800 SOMERSET 105,571 96, , , $5,783,343 $46,139 SUSSEX 203 1,568 8 $635,313 UNION 37, , , , $43,759,099 $181,704 WARREN $56,775 $99,271 total 1,651,653 2,019,678 3,671,332 9,834 *114,683 1,191 $380,687,554 **$3,456,566 * number reflects actual accounts of record and estimates of accounts held by brokers ** does not include grants to educational institutions