UIL Holdings Corporation (the Registrant) has completed its equity offering, including the underwriters' exercise of the over-allotment, as previously reported on Form 8-K on May 29, 2009. Taking into account the proceeds from such offering, The United Illuminating Company (UI), the Registrant's wholly-owned public service company, has revised its estimated capital expenditure program for 2009 and 2010 as follows:

      Projected
      Capital
      Expenditures
                                   2009                            2010
      Distribution   $    90.0       -   $    95.0         $   135.0 -  $   145.0
      Transmission        28.0       -        33.0              48.0 -       53.0
        Total UI
      (1)            $    120.0      -   $   125.0         $   185.0 -  $   195.0

(1) Projections are not intended to be additive to derive total expenditures

On May 18, 2009, UIL had previously disclosed total UI capital expenditures of $106 million for 2009 and $180 million for 2010 on Form 8-K.