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Sale of 40% Interest in Valley Power Completed

17 October 2005


FOR IMMEDIATE RELEASE


Contact Energy - Sale of 40% Interest in Valley Power Completed

Contact Energy Limited confirmed today the completion of the sale of its interest in the Valley Power Peaker Station in Victoria, Australia, to Snowy Hydro Limited, an Australian generator and retailer of electricity.

Contact announced the sale of its 40% interest in Valley Power to Snowy Hydro in conjunction with the co-owner of Valley Power, International Power and Mitsui & Co Limited, in late August.

“Contact is pleased to complete the sale. The sale is consistent with Contact’s decision to focus on its opportunities in the New Zealand market,” said Contact’s Chief Executive, David Hunt.


ENDS

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