Press releases

International Power and Mitsui to Repay US$395 Million Portfolio Financing

(London - 21 January 2011) International Power announces that on 31 January 2011, together with Mitsui & Co., Ltd, it will repay US$395 million (equivalent) of debt secured on the IPM Joint Venture’s interests in seven assets that were jointly acquired by the two companies as part of the Edison Mission Energy portfolio acquisition in 2004.

International Power’s 70% share of the repayment is equivalent to US$275 million (£172 million) and the required injection of capital is estimated to be US$220 million (£138 million), after taking into account the cash balance forecast to be held in the borrowing entity on 31 January 2011.

International Power will be repaying the debt in view of its strong corporate liquidity and the comparatively high pricing of the subordinated debt. This repayment was planned as part of the wider re-financing programme associated with the proposed combination with GDF SUEZ Energy International, and it is therefore part of delivering the previously announced financial synergies from the transaction.

Notes to Editors:

The seven assets referred to above are Paiton, Loy Yang B, Kwinana, EcoEléctrica, ISAB, Spanish Hydro and Derwent.

An exchange rate of £:US$1.6 has been used in this announcement.

For further information please contact:

International Power

	Investor Contact:	Media Contact:
	Aarti Singhal Telephone: +44 (0)20 7320 8681	Beth Akers Telephone: +44 (0)20 7320 8622

About International Power

On 10 August 2010 International Power announced its proposed combination with GDF SUEZ's Energy International Business Areas (outside Europe) and certain assets in the UK and Turkey ("GDF SUEZ Energy International") to form an enlarged International Power (the "Combination") and create the global leader in independent power generation. On 16 December 2010 the proposed Combination was approved by International Power’s shareholders. Closing of the Combination remains conditional on the satisfaction or, where permitted, waiver of the remaining conditions to Closing. International Power and GDF SUEZ anticipate that Closing will occur in early 2011.

International Power plc is a leading independent electricity generating company with 34,408MW gross (20,949MW net) in operation and 4,502MW gross (1,393MW net) under construction (as at 9 August 2010). International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, Belgium, Canada, France, Germany, Italy, the Netherlands, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the UAE, Indonesia, Pakistan, Puerto Rico and Thailand. International Power is listed on the London Stock Exchange with ticker symbol IPR. Company website: www.ipplc.com