AES Board Elects Three New Directors; Each Brings Distinguished Background and Superior Expertise.

Business Editors

ARLINGTON, Va.--(BUSINESS WIRE)--April 28, 2004

The AES Corporation (NYSE:AES) announced that Kristina M. Johnson, John A. Koskinen, and Sandra O. Moose were elected to the Board of Directors at today's Annual Shareholders Meeting. The addition of these three Directors expands the Board to 12 members.

"These new Directors will add impressive capabilities in management, technology and strategic planning," commented Richard Darman, Chairman of the Board of AES. "We welcome their contribution to the AES Board."

Kristina M. Johnson joins the AES board as an independent member. She is the chief academic and administrative officer (Dean) of the Edmund T. Pratt, Jr., School of Engineering at Duke University. Prior to joining Duke in July 1999, Dr. Johnson served on the faculty at the University of Colorado from 1985-1999 as a Professor of Electrical and Computer Engineering, and as a co-founder and Director (1993-1997) of the National Science Foundation Engineering Research Center for Optoelectronic Computing Systems Center. Dr. Johnson received her BS with distinction, MS and PhD from Stanford University in Electrical Engineering.

John A. Koskinen joins the AES board as an independent member. He served as Deputy Mayor and City Administrator for the District of Columbia from January 2000 to August of 2003. Since 2001, Mr. Koskinen has served as a Director of the US Soccer Foundation and serves on the Foundation's audit committee. He has also occupied several positions with the U.S. Government, including service as Deputy Director for Management, Office of Management and Budget (1994 - 1997), and as Assistant to then-President Clinton (1998 - 2000), also Chairing the President's Council on Year 2000 Conversion. Prior to his service with the U.S. Government, in 1973, Mr. Koskinen joined the Palmieri Company, which specialized in turnaround management, as Vice President and later served as President and CEO from 1979 through 1993. Mr. Koskinen graduated with a JD from Yale University School of Law and a BA in physics from Duke University.

Sandra O. Moose also joins the AES board as an independent member. She is President of Strategic Advisory Services and previously was a Senior Vice President of The Boston Consulting Group. Dr. Moose joined BCG in 1968, was a director since 1975, and a Senior Vice President through 2003. She managed BCG's New York Office from 1988-1998 and was appointed Chair of the East Coast. Dr. Moose received her PhD and MA in economics from Harvard University and BA summa cum laude in economics from Wheaton College. Dr. Moose serves on the Boards of Directors of Verizon Communications, Rohm and Haas Company, the Alfred P. Sloan Foundation and CDC Nvest Funds.

About AES

AES is a leading global power company, with 2003 sales of $8.4 billion. AES operates in 27 countries, generating 45,000 megawatts of electricity through 113 power facilities and delivering electricity through 17 distribution companies. Our 30,000 people are committed to operational excellence and meeting the world's growing power needs. To learn more about AES, please visit www.aes.com or contact AES investor relations at [e-mail].

Note to Editors: Photographs are available upon request.