Mirant Responds to California Attorney General's Allegations Regarding Subpoena

Apr 20, 2001, 01:00 ET from Mirant Corporation

    SACRAMENTO, Calif., April 20 /PRNewswire Interactive News Release/ --
 Mirant Corp. (NYSE:   MIR) said today it has always planned to provide the
 California attorney general with the electricity market information he seeks,
 but noted he has not provided assurances that certain proprietary information
 will be kept confidential.
     "There's a tremendous amount of irony here," said Randy Harrison, chief
 executive officer of Mirant's western U.S. operations.  "We're accused of
 collusion.  We vigorously deny the allegation.  Then we're told to provide
 data that, if not kept protected, will let everyone in the market know what
 we're doing."
     Mirant said that company lawyers are gathering the data as quickly as
 possible.  The company was unable to meet the March 19 deadline subpoena
 because of the broad scope of the request, however.  Mirant notified the
 attorney general's office of the problem.
     "The attorney general's allegations that we are 'stonewalling' the
 investigation are simply not true.  We have assured the attorney general's
 staff that much of the data requested will be provided as soon as it can be
 compiled.  The confidentiality concerns are related only to proprietary
 information," Harrison said.
     "If we're going to solve California's energy problem, we've got to get
 past the heated political rhetoric and begin talking about how we're going to
 get more power plants on the ground," Harrison said.  "It's the only way to
 bring stability to the California power grid."
     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
 commodities.  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 generation capacity around the
 world, with another 9,000 megawatts under development.  Mirant also controls
 an extensive natural gas asset base in North America, including
 transportation, storage and access to approximately 3.7 billion cubic feet per
 day of gas production.
 
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SOURCE Mirant Corporation
    SACRAMENTO, Calif., April 20 /PRNewswire Interactive News Release/ --
 Mirant Corp. (NYSE:   MIR) said today it has always planned to provide the
 California attorney general with the electricity market information he seeks,
 but noted he has not provided assurances that certain proprietary information
 will be kept confidential.
     "There's a tremendous amount of irony here," said Randy Harrison, chief
 executive officer of Mirant's western U.S. operations.  "We're accused of
 collusion.  We vigorously deny the allegation.  Then we're told to provide
 data that, if not kept protected, will let everyone in the market know what
 we're doing."
     Mirant said that company lawyers are gathering the data as quickly as
 possible.  The company was unable to meet the March 19 deadline subpoena
 because of the broad scope of the request, however.  Mirant notified the
 attorney general's office of the problem.
     "The attorney general's allegations that we are 'stonewalling' the
 investigation are simply not true.  We have assured the attorney general's
 staff that much of the data requested will be provided as soon as it can be
 compiled.  The confidentiality concerns are related only to proprietary
 information," Harrison said.
     "If we're going to solve California's energy problem, we've got to get
 past the heated political rhetoric and begin talking about how we're going to
 get more power plants on the ground," Harrison said.  "It's the only way to
 bring stability to the California power grid."
     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
 commodities.  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 generation capacity around the
 world, with another 9,000 megawatts under development.  Mirant also controls
 an extensive natural gas asset base in North America, including
 transportation, storage and access to approximately 3.7 billion cubic feet per
 day of gas production.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X23507587
 
 SOURCE  Mirant Corporation