James P. Torgerson  

President

UIL Holdings Corporation

In January 2006, UIL welcomed James P. Torgerson, who has assumed the role of President of UIL Holdings. Mr. Torgerson was formerly CEO and President of the Midwest Independent Transmission System Operator.

COMMITMENT TO COMMUNITY

Our dedication to the community remains strong, and our employees remain actively involved in numerous nonprofit agencies in the area. Our employees are generous with both their time and their money. Fifty percent of UIL employees participated in the annual United Way campaign. And our employees joined forces with our company foundation to provide thousands of dollars in relief for victims of the December 2004 tsunami in Indonesia and the 2005 Hurricanes Katrina and Rita.

The success of our Conservation and Load Management programs earned UI two awards from the U.S. Environmental Protection Agency in 2005. The awards recognized the company's commitment to energy efficiency and environmental stewardship.

The future of any organization depends on its people, and UIL employees have proven themselves superior in every way. They do their jobs extremely well, provide excellent customer service, and care deeply about the communities they serve. Our commitment to diversity in our workplace is driven in large part by the diversity of the customers we serve.

As we close the book on 2005 and focus on the "Utility Work Ahead," I want to thank you for your support. Your continued commitment will enable us to move forward with confidence, serve our customers, and deliver a solid return to you and all of our valued shareowners.

Nathaniel D. Woodson