DPL NEWS RELEASE
              DPL COMMENTS ON TIMING FOR 10-K FILING


DAYTON, OH, August 2, 2004 - DPL Inc. (NYSE-DPL) said today that
it is working diligently with its current and former independent
auditors to complete and file its annual report on Form 10-K
with the Securities and Exchange Commission (SEC) for the year
ended December 31, 2003. While substantial progress has been
made, the company and the accounting firms are studying whether
generally accepted accounting principles would require
adjustments for certain matters and, if so, the periods in which
such adjustments would be made. If adjustments are ultimately
determined to be required, the company does not anticipate that
the amounts would be material to the company's previously
disclosed financial position or cash flow.

The company stated that it cannot provide a firm date for the
filing of its 2003 Form 10-K and its Form 10-Q for the first and
second quarters of 2004 at this time. However, upon the filing
of these reports, the company intends to resume its regular
quarterly dividends, including the payments normally made in
June but delayed pending the filing of the SEC reports.

DPL said that, as a result of the delay in filing the financial
statements, and in accordance with the terms on its $175 million
8% Senior Notes due 2009, it will pay an additional 1% interest
on the notes until the Form 10-K is filed, and an additional
0.5% interest on the notes until a registration statement
relating to the notes is filed with the SEC. The filing of the
SEC Form 10-K and the filing of the registration statement and
declaration of effectiveness extinguishes the additional
interest charges.

The company added that it has the liquidity to meet all of its
near-term operating requirements. The company has approximately
$170 million in cash and $80 million in public securities to
meet its liquidity needs as of July 30, 2004.

About DPL
DPL Inc. is a diversified, regional energy company. DPL's
principal subsidiaries include The Dayton Power & Light Company
(DP&L) and DPL Energy. DP&L provides electric services to over
500,000 retail customers in West Central Ohio. DPL Energy
markets over 4,600 megawatts of generation capacity throughout
the eastern United States. DPL Inc., through its subsidiaries,
ranks among the top energy companies in generation efficiency
and productivity. Further information on DPL Inc. can be found
at www.dplinc.com.

Certain statements contained in this release are "forward-
looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Matters presented which relate to
events or developments that are expected to occur in the future,
including management's expectations, strategic objectives,
business prospects, anticipated economic performance and
financial condition and other similar matters constitute
forward-looking statements. Forward-looking statements are based
on management's beliefs, assumptions and expectation of the
Company's future economic performance, taking into account the
information currently available to management. These statements
are not statements of historical fact. Such forward-looking
statements are subject to risks and uncertainties and investors
are cautioned that outcomes and results may vary materially from
those projected due to many factors beyond DPL's control.
Forward-looking statements speak only as of the date of the
document in which they are made. We disclaim any obligation or
undertaking to provide any updates or revisions to any forward-
looking statement to reflect any change in our expectations or
any change in events, conditions or circumstances on which the
forward-looking statement is based.

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