Seneca Opposed to Dynegy-IEH Deal

Item 4. Purpose of Transaction

Item 4 is hereby amended to add the following information:

On December 15, 2010, the Company announced that it had entered into an Agreement and Plan of Merger (the “IEH Merger Agreement”) with IEH Merger Sub LLC, a Delaware limited liability company (“Parent”), and IEP Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Parent, pursuant to which it is contemplated that Parent will commence a tender offer (the “Offer”) to purchase all of the issued and outstanding shares of common stock of the Company and associated rights issued pursuant to the Company’s Stockholder Protection Rights Agreement, dated as of November 22, 2010, as amended, at a purchase price of $5.50 per share in cash, subject to any required withholding of taxes.

The Reporting Persons do not support the Offer or the IEH Merger Agreement and intend to urge other shareholders of the Company not to tender their stock in the Offer.