CMS sells to Perenco

CMS Energy Corp. has signed a definitive agreement and a letter of intent to sell the company's oil and gas exploration and production unit, CMS Oil and Gas Co., to Perenco S.A. and its affiliated companies for $232 million. CMS is also actively negotiating a definitive agreement with another party for E&P assets in Colombia, which are explained in the letter of intent. The company expects the sales to close in 3Q 2002.