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Commerce Energy Announces Distribution Date for Previously Announced Dividend and Rights Plan Redemption Payment

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  Published in Business and Finance on Tuesday, December 16th 2008 at 11:26 GMT by Market Wire
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COSTA MESA, Calif.--([ BUSINESS WIRE ])--Commerce Energy Group, Inc. (AMEX:EGR) announced today that December 17, 2008 shall be the distribution date for the previously announced cash dividend of $0.084 per share to be paid to the Company's shareholders of record as of December 11, 2008. In addition to the dividend payment, such shareholders also shall receive an additional payment of $0.001 per right in connection with the redemption of all the outstanding Rights under the Company's Shareholders Rights Agreement dated July 1, 2004.

About Commerce Energy Group

Commerce Energy Group was a leading independent U.S. electricity and natural gas marketing company. Its principal operating subsidiary, Commerce Energy, Inc., was licensed by the Federal Energy Regulatory Commission and by state regulatory agencies as an unregulated retail marketer of natural gas and electricity and serves homeowners, commercial and industrial consumers and institutional customers. As a result of a consensual foreclosure, Universal Energy, Ltd. obtained control of Commerce Energy, Inc. on December 11, 2008 because one of its subsidiaries bought the Company's debt immediately prior to the foreclosure. For more information, see the Company's Current Report on Form 8-K/A filed with the U.S. Securities Exchange Commission on December 15, 2008.