AES Extends Expiration Date for Offer to Purchase for Any and All Outstanding US$340 Million Senior Loan Participation Certificates of Edelnor

Business Wire, Sept 10, 2001

Business Editors

ARLINGTON, Va.--(BUSINESS WIRE)--Sept. 10, 2001

The AES Corporation (NYSE:AES) has announced that it is extending the expiration date for its tender offer (the "Offer") for cash by Luna III, Ltd., a Cayman Islands limited liability exempted company ("Luna") and wholly owned indirect subsidiary of The AES Corporation to purchase all of the outstanding (i) 10-1/2% Senior Loan Participation Certificates due 2005 (the "2005 Certificates") and (ii) 7-3/4% Senior Loan Participation Certificates due 2006 (the "2006 Certificates" and, together with the 2005 Certificates, the "Certificates") of Empresa Electrica del Norte Grande S.A., a Chilean corporation ("Edelnor").

The 2005 Certificates and the 2006 Certificates were issued in an aggregate principal amount of US$90,000,000 and US$250,000,000, respectively. The Certificates represent pro rata participation interests in all payments of principal and interest made in respect of loans of Edelnor.

The Offer will now expire at 5:00 p.m. New York City time, on September 20, 2001, unless further extended or earlier terminated. All other terms of the Offer remain unchanged.

As of 5:00 p.m., New York City time, on September 7, 2001, Luna was advised by the exchange agent that approximately US$10,674,000 of the total amount of the 2006 Certificates were tendered and none of the 2005 Certificates were tendered.

Information regarding the tender and delivery procedures and conditions of the Offer is contained in the Offer to Purchase dated August 6, 2001 and related documents. Copies of these documents can be obtained by contacting Mellon Investor Services, at 917/320-6286. Banc of America Securities LLC is the exclusive dealer manager for the Offer.

Additional information concerning the terms and conditions of the Offer may be obtained by contacting Banc of America Securities LLC at 888/292-0070 (toll free) or 704/388-4807 (collect).

This announcement is not an offer with respect to any securities. The Offer is made solely by the Offer to Purchase dated August 6, as the same may be amended from time to time.

This news release may include forward-looking statements. Actual events and results may differ materially from those projected. Factors that could affect actual results are discussed in AES's filings with the Securities and Exchange Commission, and readers are encouraged to read those filings to learn more about the risk factors associated with AES's businesses.

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