Medison Mission Energy Completes Acquisition of 40 PercentCornerstoneShareholding in New Zealand's Contact Energy IRVINE, Calif. (ots-PRNewswire) - Edison International (NYSE:EIX)announced today that its wholly owned subsidiary, Edison MissionEnergy,has completed its acquisition of a 40 percent stake in ContactEnergy Ltdfrom the New Zealand government. Edison Mission Energy paid NZ$1.2billion (approximately US$676 million at current exchange rates)for thecornerstone shareholding in Contact Energy. The New Zealandgovernmentsold the remaining 60 percent of Contact Energy to the publicthrough aninitial public offering that was completed prior to the closingof EdisonMission Energy's acquisition. Contact Energy owns and operates hydroelectric, geothermal andnaturalgas-fired power generating plants in New Zealand with a totalgeneratingcapacity of 2,371 megawatts. Contact also supplies gas andelectricity tocustomers in New Zealand and has minority interests in two powerprojectsin Australia. Edison International is a world leader in energy production,distribution, research and technology, capital financing and themarketingof consumer products and services. Headquartered in Rosemead,California,Edison International is the parent company of Southern CaliforniaEdison,Edison Enterprises, Edison Capital and Edison Mission Energy. Edison Mission Energy specializes in the development,acquisition,construction management and operation of global power productionfacilities. As one of the world's leading global power producers,EdisonMission Energy's investments include 48 projects currentlyoperating inAustralia, Spain, the United Kingdom and the United States andfive plantsunder construction in Indonesia, Italy, Thailand, Turkey and theUnitedStates (Puerto Rico). In total, these projects represent nearly12,400megawatts of generating capacity. In addition to its acquisition of the 40 percent interest inContactEnergy, Edison Mission Energy recently announced that it willacquire twoapproximately 2,000-megawatt coal-fired power stations in theUnitedKingdom currently owned by PowerGen and 9,772 megawatts of coalandgas-fired electricity generating facilities in the Midwest regionof theUnited States currently owned by Commonwealth Edison. Bothtransactionsare expected to close in 1999.ots Original Text Service: Edison Mission EnergyInternet: http://www.newsaktuell.deContact: Randall D. Oliver of Edison Mission Energy, (USA) 949-798-7840,or fax, (USA) 949-225-7740

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