BUSINESS MEMO: AMEREN EARNINGS

Ameren Corp. has reported 1998 earnings of $386 million, or $2.82 a share, compared to $335 million, or $2.44 a share, in 1997. But the 1997 totals reflect a one-time write-off of $52 million on generating equipment in Illinois, making 1998 revenues comparable to 1997 levels.

The fourth-quarter earnings for 1998 were $26 million, or 19 cents a share, compared to a loss of $5 million, or 4 cents a share in 1997. Fourth-quarter earnings were lower than 1997 -- before the write-off charges and certain merger-related expenses -- primarily because of mild weather.

Ameren serves 1.5 million electric customers and 300,000 gas customers in Missouri and Illinois.