EXHIBIT 99.1
DRAFT PRESS RELEASE
October 20, 2000
IPALCO Shareholders Approve Share Exchange Agreement with AES
Indianapolis, IN, October 20, 2000 -- IPALCO Enterprises, Inc. announced today
that the Agreement and Plan of Share Exchange with The AES Corporation was
approved at a Special Meeting of Shareholders held today.
In July 2000, AES and IPALCO entered into the share exchange pursuant to which
AES would acquire IPALCO. Completion of the transaction remains subject to
certain other conditions, including receipt of certain regulatory approvals.
The parties expect that the conditions will be met and the share exchange will
close in early 2001.
The AES Corporation, a Delaware corporation, is a global power company
committed to serving the world's needs for electricity in a socially
responsible way. AES is composed of competitive generation, distribution and
retail supply businesses. The company's generating assets include interests in
one hundred and forty one facilities totaling over 48 gigawatts of capacity.
AES' electricity distribution network has over 957,000 km of conductor and
associated rights of way and sells over 135,000 gigawatt hours per year to
over 19 million end-use customers. In addition, through its various retail
electricity supply businesses, the company sells electricity to over 154,000
end-use customers.
IPALCO Enterprises is a multi-state energy company providing a variety of
energy products and services. Its regulated subsidiary, Indianapolis Power &
Light Company, provides retail electric service to approximately 430,000
residential, commercial and industrial customers in Indianapolis, Indiana, and
other central Indiana communities.
