To My Fellow Shareholders,

2007 was a pivotal year for Ameren Corporation in the sense that we put in place several important building blocks for future success.

In Illinois, we reached a comprehensive settlement with key stakeholders that will help our customers’ transition to new electric rates and bring stability to the power procurement process. This settlement provides significantly greater levels of legislative, regulatory and legal certainty, while enabling a viable, competitive power supply market to continue to develop in Illinois.