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Richard Darman joins AES as a director

ARLINGTON, Va., June 25, 2002 — The AES Corp. announced recently that Richard Darman has joined its Board of Directors, expanding the Board to 12 members.

Darman, 59, is a Partner of The Carlyle Group, one of the world’s largest private equity firms. He joined Carlyle in February 1993, after serving as Director of the Office of Management and Budget from 1989 to 1993, during the first Bush administration. Earlier, he was a Managing Director of Shearson Lehman Brothers.

Darman’s government service spanned five Presidencies and included senior policy positions in the White House and six cabinet departments. He graduated with honors from Harvard College in 1964 and from Harvard Graduate School of Business School in 1967.

“Our entire board is delighted that a person of the stature, experience and wisdom of Dick Darman has agreed to join us,” said Roger Sant, Chairman of the Board of AES. “His experience dealing with international financial and political issues, the focus on financial discipline embodied in his years of government and private service, and his demonstrated leadership qualities all will enhance the deliberations of our Board.”

Darman said, “I look forward to trying to help AES as it meets the challenge of strengthening its business around the globe.”

AES is a leading global power company comprised of contract generation, competitive supply, large utilities and growth distribution businesses.

The company’s generating assets include interests in 177 facilities totaling over 59 gigawatts of capacity, in 33 countries. AES’s electricity distribution network sells over 108,000 gigawatt hours per year to over 16 million end-use customers.

For more general information visit their web site at www.aes.com or contact investor relations at [email protected]