Philip Odeen to join AES as a director


ARLINGTON, Va., March 21, 2003 — The AES Corp. announced that Philip A. Odeen is being nominated for election to the Board of Directors.

If approved by shareholders at the May 1, 2003 Annual Shareholders Meeting, the addition of Odeen will expand the Board to 10 members.

Odeen, 67, would join the AES board as an independent member. He retired as Chairman of TRW Inc. in December 2002. Prior to joining TRW in 1997, Odeen was President and Chief Executive Officer of BDM International Inc., which TRW acquired in 1997.

From 1978 to 1992, Odeen was a Senior Consulting Partner with Coopers and Lybrand and served as Vice Chairman, management consulting services, from 1991 to 1992. From 1972 to 1978, he was Vice President of the Wilson Sporting Goods Company. Odeen has served in senior positions with the Office of the Secretary of Defense and the National Security Council staff. He currently serves on a number of corporate boards.

Roger Sant, Chairman of the Board of AES, commented, “Phil’s broad experience in business, consulting, and government further advances our initiative to bring to our Board of Directors members who can guide and assist management in dealing with the new set of challenges in today’s energy industry.”

Odeen said, “I look forward to joining the board of AES and participating in resolving the challenges that AES – like all energy companies – faces today. I am impressed with the quality and depth of the board, and look forward to working with Roger, Dick Darman and the other members.” Darman is expected to be elected chairman on May 1, when Sant will step down as chairman and is expected to be named chairman emeritus.

AES is a global power company comprised of contract generation, competitive supply, large utilities and growth distribution businesses.

The company’s generating assets include interests in 160 facilities totaling over 55 gigawatts of capacity, in 30 countries. AES’s electricity distribution network sells 108,000 gigawatt hours per year to over 16 million end-use customers.

For more general information visit our web site at www.aes.com or contact investor relations at investing@aes.com.

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