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AES report



AES report:
Shares Held: 150
Date Purchased: 23-Dec-98 (average unweighted-by-date)
HPD paid: $20.04 (average)
Currently Trading: $ 65- @ 2:32pm est, 13-Sept-00 
Percentage Gain: 224.35%
Annualized Return: 97.73% (using average purchase date)

Broker Recommendations:
   Strong Buy     7
   Buy            4
   Hold           0
   (Others)       0

In the news:

UK energy regulator Ofgem referred AES's Fifoots power station in
South Wales to the Competition
Commission because it had failed to sign a market abuse condition as
part of its operating licence. [ - this was expected, AES and one
other co. would not sign the clause; it is too regulatory. Stay
tuned]

AES planned to sell $600 million of debt to repay certain outstanding
debt and for general corporate purposes. A huge demand for corporate
bonds caused AES to up the figure to $850M

Grupo EDC , (AES subsidiary)said it would sell two regional power
companies in neighbouring Colombia to Spanish electricity generator
Union Fenosa for $235 million. [This looks like AES's continuing
strategy to own or control their plants - no minority shareholding]

AES will acquire Reliant Energy International's interest in El
Salvador Energy Holdings, S.A., which
owns three distribution companies in El Salvador -- serving 3.5
million people, approximately 60 percent of the population of El
Salvador, including the capital city of San Salvador.

Maura Shaughnessy, manager of the MFS Utilities fund, chose AES as
her top stock to hold fro five years in an interview:
http://www.thestreet.com/_yahoo/funds/funds/1068363.html

AES agreed to generate ans supply power for Magnesium Alloy
Corporation's Kouilou Magnesium Project in Africa (one of the world's
largest magnesium salt deposits for the production of magnesium metal
and alloys).

NewEnergy signed an agreement with the Steel Service Center Institute
(SSCI) establishing an energy buying pool for approximately 170 steel
producers, steel processors and steel service centers in New Jersey
and Pennsylvania.




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