Edison Mission Energy names Kevin Smith Senior Vice President and Chief Financial Officer

IRVINE, Calif. (ots-PRNewswire) - Edison Mission Energy, an Edison International company, today announced that Kevin M. Smith has been named senior vice president and chief financial officer. Smith's responsibilities will include corporate and project financing, mergers and acquisitions, treasury, accounting, tax and administration. Smith succeeds James V. Iaco who was named President, Americas Division in early 1998. Smith has served as Edison Mission Energy's vice president and treasurer since 1994, with responsibilities for various corporate finance functions including financial planning, project finance, foreign exchange and interactions with rating agencies, commercial banks and investment banks. He joined the company in 1986 and held various other positions within the company, becoming treasurer in 1992. "Edison Mission Energy is an active participant and innovator in global financial markets. Kevin Smith has been a key contributor in more than 40 corporate financings totaling more than $10 billion. His skills are a tremendous asset to our company," said Edward R. Muller, president and chief executive officer of Edison Mission Energy. Prior to joining Edison Mission Energy, Smith worked at Fluor Corporation in cogeneration venture development, marketing and process engineering. He received a bachelor's degree in chemical engineering from the University of California at Berkeley and a master of business administration from the University of California at Irvine. 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, Edison Mission Energy has announced that it will acquire two 2,000-megawatt coal-fired power stations in the United Kingdom currently owned by PowerGen; 9,772 megawatts of coal and gas-fired electricity generating facilities in the Midwest region of the United States currently owned by Commonwealth Edison; and 40 per cent of Contact Energy, which 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. All three 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, 949-798- 7840, or Fax: 949-225-7740 e-mail: NA_global@newsaktuell.de

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