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AES Report

See you Sunday, dont forget to bring something to buy! 


AES report:
Shares Held: 75
Date Purchased: 23-Dec-98 (average unweighted-by-date)
HPD paid: $40.08 (average)
Currently Trading: $ 72 1/8 @ 1:20pm est, 22-Mar-00 
Percentage Gain: 79.95%
Annualized Return: 60.21% (using average purchase date)

Broker Recommendations:
   Strong Buy     8
   Buy            4
   Hold           2
   (Others)       0

In the news:

AES announced a 15-year Energy Conversion Contract with Natzionalna
Elektricheska Kompania EAD (NEK), the Bulgarian state-owned electric
utility. AES will build, own, operate and transfer a new 2 x 335 MW
lignite-fired power plant in southeast Bulgaria at the site of the
existing, partially decommissioned Maritza East 1 plant. Lignite for
the facility is to be provided by NEK. The plant is expected to cost
approximately $750 million. The proposed investment will be the
largest private foreign direct investment of any kind in Bulgaria

AES announced that it has entered into an agreement to acquire a 59%
stake in the 1,000 MW hydroelectric facility of Hidroelectrica
Alicura S.A. in Argentina.

Energy analysts say AES is the most likely candidate to purchase
2,000 MW of Boston Edison generating assets in New England, from
Sithe Energies Inc.

AES is looking at Italy as the next place to acquire or build power
plants, according to AES Electric's Group Manager Michael Armstrong.
"We will be looking at acquiring power plants disposed by ENEL,"
Armstrong said in an interview. Italian utility ENEL has to sell
15,000 megawatts (MW) of generating capacity by 2003 to comply with
the European Union electricity directive on market liberalization.
AES is also looking at options to enter the market in France.

A Merrill Lynch analyst cut ratings on AES and three other U.S. power
companies, based on concern over UK energy pricing regulation. (In a
subsequent conference call, CEO Bakke said that earnings from the UK
Drax will be on the low end, but will not affect quarterly earnings
estimates for AES as a whole).

AES got a nice plug from Online Investor (6-Mar)

Goldman Sachs upped its rating for AES

Brazil's annoying pompous governor Franco repeated his
anti-privatization stance.

AES finished financing for a New Jersey power plant.

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