Edison Mission Response To Offer Appraisal

Wednesday, 16 May 2001, 6:29 pm
Press Release: Edison Mission Energy

Edison Mission Energy (EME) has responded to the Grant Samuels and Associates appraisal report of the company’s offer to acquire a further eight percent of Contact Energy as “fair and pleasing”, Senior Vice President, Bob Driscoll said today.

The evaluation, commissioned by the independent directors of Contact Energy and sent to Contact shareholders today, described the price received by shareholders choosing to sell as “likely to equal or exceed the fair market value of a portfolio interest in Contact Energy”.

Bob Driscoll said EME is pleased with the appraisal and keen to encourage all shareholders interested in selling their Contact Energy shares to contact their brokers now.

“We are expecting a substantial response to our offer,” he said.

ENDS

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