Medison Mission Energy Completes Acquisition of 40 Percent Cornerstone Shareholding in New Zealand's Contact Energy IRVINE, Calif. (ots-PRNewswire) - Edison International (NYSE: EIX) announced today that its wholly owned subsidiary, Edison Mission Energy, has completed its acquisition of a 40 percent stake in Contact Energy Ltd from the New Zealand government. Edison Mission Energy paid NZ$ 1.2 billion (approximately US$676 million at current exchange rates) for the cornerstone shareholding in Contact Energy. The New Zealand government sold the remaining 60 percent of Contact Energy to the public through an initial public offering that was completed prior to the closing of Edison Mission Energy's acquisition. Contact Energy owns and operates hydroelectric, geothermal and natural gas-fired power generating plants in New Zealand with a total generating capacity of 2,371 megawatts. Contact also supplies gas and electricity to customers in New Zealand and has minority interests in two power projects in Australia. Edison International is a world leader in energy production, distribution, research and technology, capital financing and the marketing of consumer products and services. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison, Edison Enterprises, Edison Capital and Edison Mission Energy. Edison Mission Energy specializes in the development, acquisition, construction management and operation of global power production facilities. As one of the world's leading global power producers, Edison Mission Energy's investments include 48 projects currently operating in Australia, Spain, the United Kingdom and the United States and five plants under construction in Indonesia, Italy, Thailand, Turkey and the United States (Puerto Rico). In total, these projects represent nearly 12,400 megawatts of generating capacity. In addition to its acquisition of the 40 percent interest in Contact Energy, Edison Mission Energy recently announced that it will acquire two approximately 2,000-megawatt coal-fired power stations in the United Kingdom currently owned by PowerGen and 9,772 megawatts of coal and gas-fired electricity generating facilities in the Midwest region of the United States currently owned by Commonwealth Edison. Both transactions are expected to close in 1999. ots Original Text Service: Edison Mission Energy Internet: http://www.newsaktuell.de Contact: Randall D. Oliver of Edison Mission Energy, (USA) 949- 798-7840, or fax, (USA) 949-225-7740