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[AES LETTERHEAD]
FOR IMMEDIATE RELEASE
Contact: Kenneth R. Woodcock
(703) 522-1315
AES EXTENDS GENER OFFER PENDING SHAREHOLDER
MEETING RESULTS
ARLINGTON VA, DECEMBER 8, 2000 - The AES Corporation (NYSE: AES) announced today
that it had extended until 12:00 midnight on Tuesday, December 12, 2000, the
expiration date of its offer to exchange all Gener American Depositary Shares
pending the outcome of the vote of Gener shareholders. As previously announced,
Gener shareholders are scheduled to vote on December 12th on an amendment to
Gener's Bylaws to eliminate the provisions that limit the number of shares that
may be owned or voted by any shareholder or related person. The amendment of
Gener's Bylaws is a condition of AES's offers to exchange Gener's ADSs and to
purchase Gener's shares. As of the close of business on December 7, 2000,
732,937 ADSs had been tendered and not withdrawn pursuant to the exchange offer.
Except as modified by this extension, the terms and conditions of the exchange
offer and AES's concurrent Chilean offer remain in effect and unmodified.
AES is a leading global power company comprised of competitive generation,
distribution and retail supply businesses in Argentina, Australia, Bangladesh,
Brazil, Canada, China, Dominican Republic, El Salvador, Georgia, Hungary, India,
Kazakhstan, the Netherlands, Mexico, Pakistan, Panama, Sri Lanka, the United
Kingdom, the United States and Venezuela.
The company's generating assets include interests in one hundred thirty-nine
facilities totaling over 49 gigawatts of capacity. AES's electricity
distribution network has over 920,000 km of conductor and associated rights of
way and sells over 126,000 gigawatt hours per year to over 17 million
end-use consumers. In addition, through its various retail electricity supply
businesses, the company sells electricity to over 154,000 end-use customers.
AES is dedicated to providing electricity worldwide in a socially responsible
way.
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