Mirant files for delay in reporting 2002 financials

ATLANTA, April 1, 2003 — Mirant announced that it, and its two registered subsidiaries, Mirant Mid Atlantic LLC and Mirant Americas Generation LLC, have submitted the appropriate forms to the Securities and Exchange Commission (SEC) indicating that the entities will be late in filing their 2002 Form 10-K’s.

Mirant stated that the delay is due to the ongoing reaudit of its 2000 and 2001 financials, and the audit of its 2002 financials.

Mirant told the SEC that it does not expect to file its 2002 Form 10-K’s by April 15. The Company said that it does not know the exact timing of when the forms would be completed, but noted that it is working diligently with its independent auditors to finalize the audit for the three years as soon as possible.

“Completing our audit and reaudits has become a much more complex and time consuming process than our management team, and independent auditors, had predicted,” said Harvey A. Wagner, Mirant’s newly-appointed chief financial officer. “I know our investors are anxious for us to complete this process, and we are as anxious to finish it. But we’re committed to doing this once and doing it right. Bringing closure to the audit and reaudit is the company’s highest priority.”

This announcement is solely for the purpose of updating the status of Mirant’s 2002 Form 10-K’s and is not intended to provide an update on the company’s financial results.

Visit us at www.mirant.com .

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