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Mirant announces preliminary results of tender offer

22 August 2006- Mirant Corporation today announced the preliminary results of its modified “Dutch auction” tender offer to purchase up to 43 000 000 shares of the company’s common stock, which expired at 5:00 p.m., New York City time, on Monday, August 21, 2006.

Based upon the preliminary count by Mellon Investor Services, the depositary for the tender offer, 52 216 895 shares were validly tendered and not withdrawn at a price at or below $28.50, including 23 170 338 shares tendered through notice of guaranteed delivery. Based on these preliminary results, the company expects to purchase 43 000 000 shares in the tender offer, subject to proration, at $28.50 per share. These shares represent approximately 14 per cent of the shares outstanding as of June 30, 2006.

The number of shares to be purchased and the price per share are preliminary. The determination of the final number of shares to be purchased, the final price per share and the proration factor, if any, is subject to confirmation by the depositary of the proper delivery of the shares validly tendered and not withdrawn. The actual number of shares purchased, the final purchase price, and the proration factor, if any, will be announced promptly following completion of the verification process. Payment for the shares accepted for purchase, and return of all other shares tendered, will occur promptly after completion of the final purchase price and proration computations, if applicable.