press-release-details

Press Release Details

AES Supports Progress on the U.S.-Korea Free Trade Agreement

Dec 04, 2010

ARLINGTON, Va., Dec 04, 2010 -- The AES Corporation (NYSE: AES) supports the recent efforts by the governments of the United States and the Republic of Korea in completing the U.S.- Korea Free Trade Agreement and encourages the Obama administration and Congress to ratify the Agreement in early 2011. According to the U.S. government, the Korea U.S. Free Trade Agreement will boost U.S. exports to Korea by nearly $11 billion. Currently, U.S. exports to Korea face an average applied tariff of 11.2 percent, while the equivalent U.S. tariff on Korean exports is 3.7 percent.

Paul Hanrahan, President and CEO of AES, stated, "AES is encouraged by the progress between the United States and the Republic of Korea on the U.S.-Korea Free Trade Agreement. We believe that the terms of this Agreement and its ability to set the stage for increased trade between US and Asian markets, such as Korea, will help to create service and manufacturing jobs in the U.S and to enable further economic growth in Asia. This will generate increased demand for power and power- related products and services across the region. At AES, our 27,000 people worldwide look forward to meeting these needs and welcome a closer relationship with our Korean and Asian partners."

Mr. Hanrahan recently visited India as part of the US-India CEO Forum delegation and expressed support for President Obama's efforts to increase economic integration with the fastest growing markets in the world, such as India, Korea, and other Asian markets. AES has power generation and distribution companies in 29 countries and the majority of the company's development efforts are in Asia.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global power company with generation and distribution businesses. Through our diverse portfolio of thermal and renewable fuel sources, we provide affordable and sustainable energy to 30 countries. Our workforce of 27,000 people is committed to operational excellence and meeting the world's changing power needs. Our 2009 revenues were $14 billion and we own and manage $40 billion in total assets. To learn more, please visit www.aes.com.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as achievements of planned productivity improvements and incremental growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission, including, but not limited to, the risks discussed under Item 1A "Risk Factors" in AES' 2009 Annual Report on Form 10-K. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company's 2009 Annual Report on Form 10-K filed on or about February 25, 2010 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. Stockholders may also obtain a copy by visiting the Company's website at www.aes.com.

SOURCE: The AES Corporation

The AES Corporation
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Meghan Dotter, 703-682-6670
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