Safe Harbor Statement for Chesapeake Energy Corporation

Some information may contain projections or other forward-looking statements regarding future events or the future financial performance of the Chesapeake. Chesapeake cautions you that these statements are only predictions and that actual events or results may differ materially. Chesapeake refers you to the documents Chesapeake files from time to time with the Securities and Exchange Commission, specifically, Chesapeake's most recent Form 10-K, Form 10-Q, and Form 10-Q/A. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, dependence on new product development; rapid technological and market change, acquisition strategy, manufacturing risks, risks associated with Internet infrastructure, volatility of stock price, financial risk management, and future growth subject to risks. Factors that could cause actual results to differ materially from those in the forward-looking statements are detailed from time to time in reports filed by Chesapeake with the SEC, including Forms 8K, 10Q and 10K, and may include the following:

Factors affecting operations, such as: unusual weather conditions, catastrophic weather-related damage, environmental incidents and unusual maintenance and repairs.

State and Federal legislative and regulatory developments.

The effects of present and prospective competition.

Chesapeake's pursuit of potential business strategies, including acquisitions or dispositions of assets or the development of additional power generation facilities.

Financial or regulatory accounting principles and policies imposed by governing bodies.

The effects of geopolitical events, including the threat of domestic terrorism.

Changing market conditions and other factors related to physical and financial energy trading activities, including price, basis, counterparty credit risk, liquidity, volatility, capacity, transmission, currency exchange rates, interest rates and warranty risks.

Financial market conditions, including availability and cost of capital, and Chesapeake's ability to obtain financing on favorable terms.

Chesapeake has based its forward-looking statements on management's beliefs and assumptions using information available at the time the statements were made. Chesapeake cautions the reader not to place undue reliance on its forward-looking statements because the assumptions, beliefs, expectations and projections about future events may and often do materially differ from actual results. Chesapeake undertakes no obligation to update any forward-looking statement to reflect developments' occurring after the statement is made.