Edison Mission Energy – Share Offer Outcome

4 February 2002

FOR IMMEDIATE RELEASE

Edison Mission Energy – Share Offer Outcome

The chairman of Contact Energy Ltd, Mr Phil Pryke, today confirmed that Edison Mission Energy has advised that Edison Mission Energy’s offer for Contact shares has lapsed without the necessary level of acceptances having been received.

“We respect shareholders’ decision not to sell their shares at this time and view it as a vote of confidence in the future of the company,” Mr Pryke said. “We look forward to continuing to enhance shareholder value through pursuit of the company’s strategy.

“During the course of the takeover there was some discussion that Steve Barrett may return to Edison Mission Energy. The Contact board is also pleased to confirm that Steve Barrett will continue in his position as chief executive and Managing Director of Contact Energy Ltd,” Mr Pryke said.

With the outcome of the bid now known, Contact will shortly be issuing a notice to shareholders of its Annual General Meeting, which is currently planned for March 11, in Auckland.

For further information, contact:

Pattrick Smellie
Media Relations
(04) 4959753

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