AFX News Limited

September 20, 2001

Electricity Generating Plc said it has signed a shareholder agreement for the establishment of Nam Theun 2 Power Co Ltd with Electricite de France subsidiary Electricite du Laos (EDL), EDF International (EDFI) and Italian-Thai Development Plc (ITD).

In a statement to the Stock Exchange of Thailand, the company said the agreement is in accordance with its investment in the Nam Theun 2 electricity consortium (NTEC) for developing the Nam Thuen 2 hydroelectric project in the Lao People’s Democratic Republic. EDL will hold a 25 pct stake in the joint venture, EDFI 35 pct, ITD 15 pct and Electricity Generating 25 pct. The Nam Theun 2 hydroelectric project will have a total installed capacity of 1,060 megawatts, of which 980 MW and 80 MW will be sold to Electricity Generating Authority of Thailand (EGAT) and EDL, respectively. The company said it is in the process of negotiating the concession agreement with the Lao government and the power purchase agreement with EGAT.