Bewag Agreement Confirmed by The City of Berlin

Apr 27, 2001, 01:00 ET from Mirant Corp.

    ATLANTA, April 27 /PRNewswire/ -- Mirant Corp. (NYSE:   MIR) announced today
 that an agreement between the Hamburg utility HEW, which is owned by the
 Swedish utility Vattenfall, and Mirant has been approved by the senate of the
 City of Berlin.  This agreement provides that HEW and Mirant will have joint
 control and equal stakes in the Berlin-based utility Bewag.  Each company will
 own approximately 43 percent of the shares, and the remaining 14 percent of
 shares will be publicly traded on the German stock exchange.  Mirant currently
 holds a 26 percent stake in Bewag.
     "This agreement in Bewag together with HEW and Vattenfall marks a positive
 step as we continue to expand our asset base in Germany and throughout
 Europe," said Barney Rush, chief executive officer of Mirant's European
 business group.  "We see this agreement as a first step in creating a "Fourth
 Force" in the German electricity market in which Mirant, through Bewag, will
 play an integral role."
     The "Fourth Force" is a combination of utilities set to be a leading force
 in the German energy market by providing efficient, low-cost energy.
     Mirant is a global competitive energy company with a leading position in
 both power generation and energy risk management and marketing.  With an
 integrated business model, Mirant develops, constructs, owns, and operates
 power plants and sells wholesale electricity, natural gas, and other energy-
 related commodity products.  Headquartered in Atlanta, with 8,000 employees
 worldwide, Mirant has extensive operations in North America, Europe, and Asia.
 Mirant owns or controls more than 20,000 megawatts of electric generating
 capacity around the world, with another 9,000 megawatts under development.
 
     Special note regarding forward-looking statements:
     The information presented above includes forward-looking statements, in
 addition to historical information.  These statements involve known and
 unknown risks and relate to future events, Mirant's future financial
 performance or projected business results.  In some cases, forward-looking
 statements by terminology may be identified by statements such as "may,"
 "will," "should," "expects," "plans," "anticipates," "believes," "estimates,"
 "predicts," "targets," "potential," "guidance" or "continue" or the negative
 of these terms or other comparable terminology.
     Forward-looking statements are only predictions.  Actual events or results
 may differ materially from any forward-looking statement as a result of
 various factors, which include: (i) legislative and regulatory initiatives
 regarding deregulation and restructuring of the electric utility industry;
 (ii) the extent and timing of the entry of additional competition in the
 markets of Mirant's subsidiaries and affiliates; (iii) Mirant's pursuit of
 potential business strategies, including acquisitions or dispositions of
 assets or internal restructuring; (iv) state, federal and other rate
 regulations in the United States and in foreign countries in which Mirant's
 subsidiaries and affiliates operate; (v) changes in or application of
 environmental and other laws and regulations to which Mirant and its
 subsidiaries and affiliates are subject; (vi) political, legal and economic
 conditions and developments in the United States and in foreign countries in
 which Mirant's subsidiaries and affiliates operate; (vii) financial market
 conditions and the results of Mirant's financing efforts; changes in commodity
 prices and interest rates; weather and other natural phenomena; (viii)
 performance of Mirant's projects undertaken and the success of efforts to
 invest in and develop new opportunities; (ix) unanticipated developments in
 the European power markets, including, but not limited to, unanticipated
 governmental intervention, deterioration in the financial condition of
 counterparties or future litigation, and (x) other factors, including the
 risks outlined under "Risk Factors" in filings with the SEC.
     Although Mirant believes that the expectations reflected in the forward-
 looking statements are reasonable, Mirant cannot guarantee future results,
 events, levels of activity, performance or achievements.  Mirant does not
 undertake a duty to update any of the forward-looking statements.
 
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SOURCE Mirant Corp.
    ATLANTA, April 27 /PRNewswire/ -- Mirant Corp. (NYSE:   MIR) announced today
 that an agreement between the Hamburg utility HEW, which is owned by the
 Swedish utility Vattenfall, and Mirant has been approved by the senate of the
 City of Berlin.  This agreement provides that HEW and Mirant will have joint
 control and equal stakes in the Berlin-based utility Bewag.  Each company will
 own approximately 43 percent of the shares, and the remaining 14 percent of
 shares will be publicly traded on the German stock exchange.  Mirant currently
 holds a 26 percent stake in Bewag.
     "This agreement in Bewag together with HEW and Vattenfall marks a positive
 step as we continue to expand our asset base in Germany and throughout
 Europe," said Barney Rush, chief executive officer of Mirant's European
 business group.  "We see this agreement as a first step in creating a "Fourth
 Force" in the German electricity market in which Mirant, through Bewag, will
 play an integral role."
     The "Fourth Force" is a combination of utilities set to be a leading force
 in the German energy market by providing efficient, low-cost energy.
     Mirant is a global competitive energy company with a leading position in
 both power generation and energy risk management and marketing.  With an
 integrated business model, Mirant develops, constructs, owns, and operates
 power plants and sells wholesale electricity, natural gas, and other energy-
 related commodity products.  Headquartered in Atlanta, with 8,000 employees
 worldwide, Mirant has extensive operations in North America, Europe, and Asia.
 Mirant owns or controls more than 20,000 megawatts of electric generating
 capacity around the world, with another 9,000 megawatts under development.
 
     Special note regarding forward-looking statements:
     The information presented above includes forward-looking statements, in
 addition to historical information.  These statements involve known and
 unknown risks and relate to future events, Mirant's future financial
 performance or projected business results.  In some cases, forward-looking
 statements by terminology may be identified by statements such as "may,"
 "will," "should," "expects," "plans," "anticipates," "believes," "estimates,"
 "predicts," "targets," "potential," "guidance" or "continue" or the negative
 of these terms or other comparable terminology.
     Forward-looking statements are only predictions.  Actual events or results
 may differ materially from any forward-looking statement as a result of
 various factors, which include: (i) legislative and regulatory initiatives
 regarding deregulation and restructuring of the electric utility industry;
 (ii) the extent and timing of the entry of additional competition in the
 markets of Mirant's subsidiaries and affiliates; (iii) Mirant's pursuit of
 potential business strategies, including acquisitions or dispositions of
 assets or internal restructuring; (iv) state, federal and other rate
 regulations in the United States and in foreign countries in which Mirant's
 subsidiaries and affiliates operate; (v) changes in or application of
 environmental and other laws and regulations to which Mirant and its
 subsidiaries and affiliates are subject; (vi) political, legal and economic
 conditions and developments in the United States and in foreign countries in
 which Mirant's subsidiaries and affiliates operate; (vii) financial market
 conditions and the results of Mirant's financing efforts; changes in commodity
 prices and interest rates; weather and other natural phenomena; (viii)
 performance of Mirant's projects undertaken and the success of efforts to
 invest in and develop new opportunities; (ix) unanticipated developments in
 the European power markets, including, but not limited to, unanticipated
 governmental intervention, deterioration in the financial condition of
 counterparties or future litigation, and (x) other factors, including the
 risks outlined under "Risk Factors" in filings with the SEC.
     Although Mirant believes that the expectations reflected in the forward-
 looking statements are reasonable, Mirant cannot guarantee future results,
 events, levels of activity, performance or achievements.  Mirant does not
 undertake a duty to update any of the forward-looking statements.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X89376462
 
 SOURCE  Mirant Corp.