AES' Offer Extended Until June 7 At 3:00 P.M.

Business Editors

ARLINGTON, Va.--(BUSINESS WIRE)--June 7, 2000

57% Tendered to Date

The AES Corporation (NYSE: AES) announced today that it had extended the expiration date of the U.S. Offer to purchase all ADSs of C.A. La Electricidad de Caracas (BVC:EDC; OTC:ELDAY) at US$28.50 per ADS. The U.S. Offer is now currently scheduled to expire on Wednesday, June 7 at 3:00 p.m. The First Administrative Court in Venezuela ruled on June 6 to extend the expiration date of the Venezuelan Offer until Monday, June 12, 2000, at 12:00 midnight.

AES stated that as of 1:00 p.m. New York City time on June 7 approximately 35,501,300 ADSs and 301,773,700 shares, representing in the aggregate approximately 57% of the outstanding shares (including shares represented by ADSs) had been tendered pursuant to its tender offers for ADSs and shares of EDC (including approximately 955,000 ADSs tendered pursuant to guaranteed deliveries).

In order for shares to be validly tendered pursuant to the Venezuelan Offer, such shares must be tendered pursuant to the procedures set forth in the Venezuelan Offer to Purchase and the transfer of such shares into the name of the trustee for the Venezuelan Offer must be completed prior to the expiration date. Any shareholder having questions regarding the procedures for tendering shares in the Venezuelan Offer should contact ActiValores (Caracas: 58-2-201-7511), the coordinator for the Venezuelan Offer.

AES is a leading global power company comprised of competitive generation and retail supply businesses in Argentina, Australia, Bangladesh, Brazil, Canada, China, Dominican Republic, El Salvador, Georgia, Hungary, India, Kazakhstan, the Netherlands, Mexico, Pakistan, Panama, the United Kingdom and the United States.

The company's generating assets include interests in one hundred and twenty-five facilities totaling over 44 gigawatts of capacity. AES' electricity distribution network has over 954,000 km of conductor and associated rights of way and sells over 114,000 gigawatt hours per year to over 15 million end-use customers. In addition, through its various retail electricity supply businesses, the company sells electricity to over 154,000 end-use customers.

AES is dedicated to providing electricity worldwide in a socially responsible way.

For more general information visit our web site at www.aesc.com or contact investor relations at [e-mail]. The list aes-pr-announce is an automated mailing list and can be found on the investing page of our web site. Those who subscribe to this list will receive updates when AES issues a press release.