AES and AgCert International Create Joint Venture to Reduce Greenhouse Gas Emissions; JV to Create 20 Million Tonnes of Emission Reductions Per Year.

ARLINGTON, Va. -- The AES Corporation (NYSE:AES) and AgCert International plc (LSE:AGC) today announced the formation of AES AgriVerde, a joint venture designed to deploy AgCert's greenhouse gas emission reduction technology in selected countries in Asia, Europe and North Africa. Under the terms of the relevant agreements, AES will maintain a majority interest in the joint venture and plans to invest approximately US$325 million into the joint venture over the next five years. In addition, AES has invested approximately EUR 40 million to acquire an approximate nine percent equity interest in AgCert.

By 2012, AES AgriVerde intends to create an annual production volume of 20 million tonnes of greenhouse gas emission reductions through the reduction of methane - a potent greenhouse gas - emissions created by agricultural and animal farm waste.

AES AgriVerde will utilize a technology process developed by AgCert to capture methane from agricultural and animal waste products. AES AgriVerde will install systems to capture this gas and either destroy it or use it to generate electricity or heat, reducing net greenhouse gas emissions from the manure management process by approximately 95 percent. This application reduces emissions by preventing the animal sewage and other agricultural waste from being disposed in large open lagoons where it would otherwise decay, releasing large volumes of methane.

"AES is committed to helping address climate change issues as part of our broader alternative energy strategy," said William Luraschi, AES Executive Vice President for Business Development, and the head of AES's recently announced alternative energy business. "We believe that greenhouse gas emissions will continue to face increasing regulation, and expect that offsets will remain a significant component of those regulations. This methodology not only mitigates important environmental impacts, it enhances our ability to meet new power needs."

In April, AES announced the formation of its alternative energy group and plans to invest approximately US$1 billion over the next three years in this sector. Since October 2005, the company has committed to approximately US$100 million in investments which will generate over 17 million tonnes of emission reductions through 2012.

"Methane is a significant contributor to climate change and is 21 times more potent than CO2," said Bill Lyons, AES Managing Director of Climate Change and Technology Development within AES's alternative energy group. "Agricultural processes provide a low cost, high volume method for producing offsets. In addition to its positive impacts on climate change, this mitigation method has numerous local health benefits including, cleaner drinking water and soil as well as reduced exposure to mosquito-borne diseases. We are targeting large market opportunities with this joint venture and are excited to partner with a quality company like AgCert."

"We are very excited to be expanding upon our strategic relationship with AES, leveraging our technology and know how to build a pipeline of incremental emission reductions. The joint venture with AES allows AgCert to rapidly deploy our technologies in areas where AES has strong presence and permits AgCert to continue to execute our strategy in all other parts of the globe. It also provides the option for AgCert to invest further in the JV," said Bill Haskell, CEO of AgCert.

About AES

AES is one of the world's largest global power companies, with 2005 revenues of US$11.1 billion. With operations in 26 countries on five continents, AES's generation and distribution facilities have the capacity to serve 100 million people worldwide. Our 14 regulated utilities amass annual sales of over 82,000 GWh and our 127 generation facilities have the capacity to generate over 44,000 megawatts. Our global workforce of 30,000 people is 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 media relations at [e-mail].

About AgCert

AgCert International plc was founded in 2002 to produce and sell reductions in greenhouse gas emissions (referred to as "offsets") from agricultural sources on an industrial scale. These offsets are intended to satisfy the requirements of the Kyoto Protocol and be capable of being traded on the European cap and trade system, the European Union Emissions Trading Scheme ("EU-ETS"). AgCert has identified agriculture as one of the largest commercial opportunities for offset production and expects to be a leading supplier of offsets from this sector. AgCert has significant expertise in the use of United Nations approved methodologies for the production of offsets in the agricultural sector from animal waste. More information about AgCert's Greenhouse Gas Reduction projects can be found at http://www.agcert.com

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES's current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, continued normal levels of operating performance and electricity demand at our distribution companies and operational performance at our contract generation businesses consistent with historical levels, as well as achievements of planned productivity improvements and incremental growth investments at normalized investment levels and rates of return consistent with prior experience. Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES's filings with the Securities and Exchange Commission, including, but not limited to, the risks discussed under Item 1A, "Risk Factors" in AES's 2005 Annual Report on Form 10-K. Readers are encouraged to read AES's filings to learn more about the risk factors associated with AES's business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This announcement does not contain or constitute an offer of any securities of AgCert International plc for sale in the United States. The securities of AgCert International plc referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Act") and may not be offered or sold in the United States or to a U.S. Person, as defined in Regulation S under the Act, absent registration under that Act or an available exemption from such registration requirements.

AES AgriVerde: An AES-AgCert Joint Venture

    --  AES AgriVerde's bio-digester captures methane from
        agricultural and animal waste products, and either converts
        the greenhouse gas into electricity or destroys it through
        combustion.


Why Methane?

    --  Methane is one of the six greenhouse gases controlled under
        climate change regulations. The others are Carbon Dioxide,
        Nitrous Oxide, Hydrofluorocarbons, Perfluorocarbons and
        Sulphur hexafluoride.

    --  Methane is a potent greenhouse gas, with a Global Warming
        Potential equivalent to 21 times that of Carbon Dioxide (CO2).
        This means that on a mass basis, methane is 21 times as
        effective in trapping heat in the atmosphere as is CO2.

    --  It also means that capturing and destroying methane is 21
        times more effective at reducing greenhouse gas emissions than
        capturing the same amount of CO2.

    --  Methane now accounts for 16% of all greenhouse gas emissions
        globally. Atmospheric methane concentrations have been
        increasing at a rate of about 0.6% per year and have more than
        doubled since the Industrial Revolution.

    --  60 to 80 percent of total methane emissions come from human
        sources, including rice paddies, domesticated livestock,
        landfills, biomass burning, and the production, handling and
        burning of fossil fuels. The remainder comes from natural
        sources: wetlands, gas hydrates, permafrost and termite
        digestion.


The bio-digester

    --  AES AgriVerde's bio-digesters are fully lined and enclosed
        waste management systems that capture biogas (principally
        methane and to a lesser extent nitrous oxide) instead of
        allowing it to be released into the air. Traditional animal
        waste management systems are usually open-air lagoons that
        release large volumes of methane into the atmosphere.

    --  AES AgriVerde will install, operate and maintain bio-digesters
        on farms in selected countries throughout Europe, Africa and
        Asia.


    How it works:

    --  Manure flows into the bio-digester from a confined animal farm
        operation.

    --  Bacterium and chemical reactions decompose the manure into
        biogas, solid residue and nitrate-rich liquids. This process
        takes 22 to 28 days to maximize methane production and
        capture.

    --  The biogas is collected for flaring or for power generation
        (at the farmer's request and expense). No biogas is released
        from the digester unless the flare or generator set is in
        operation to avoid accidental leakage.

    --  The residual liquids from the digesters flow to a secondary
        lagoon and can be used for field fertilization.

    --  The bio-digesters are expected to reduce net greenhouse gas
        emissions over traditional manure management processes by
        approximately 95 percent.

    --  In addition to its positive impacts on climate change, the
        sealed bio-digester greatly reduces odors and ground
        contamination associated with traditional animal waste
        management systems, resulting in cleaner drinking water and
        soil as well as reduced exposure to mosquito-borne diseases.


The Carbon Market

    --  Climate scientists across the globe claim that increases in
        greenhouse gas emissions are trapping excess heat in the
        atmosphere and are directly related to the increase in global
        temperature--also known as global warming.

    --  Greenhouse gas "cap and trade systems" have been put in place
        to reduce the amount of greenhouse gases emitted into the
        atmosphere each year.

    --  Under a greenhouse gas cap and trade system, a government sets
        the total amount of greenhouse gas emissions allowed by
        participants in the system (usually large emitters).

    --  Large greenhouse gas emitters in Europe are now bound by a cap
        and trade program known as the European Union Emissions
        Trading Scheme (EU ETS).

    --  In 2008, The Kyoto Protocol, another cap and trade regulatory
        framework, goes into effect, capping greenhouse gas emissions
        in the EU as well as some other developed nations, including
        Japan and Canada.

    --  To meet these new regulations, participants must find a way to
        reduce their greenhouse gas emissions.

    --  Some companies do this directly and inexpensively. Most
        companies, however, are left with the option of purchasing
        allowances from other participants, or purchasing greenhouse
        gas emission reductions. In either case, greenhouse gas
        emissions are reduced.

    --  This has created a market for new, clean technologies and
        greenhouse gas emission reductions.


    How greenhouse gas emission reductions are created:

    --  The Clean Development Mechanism (CDM) and the Joint
        Implementation Mechanism (JI)--introduced by the Kyoto
        Protocol--encourage and facilitate investment for the purpose
        of reducing greenhouse gas emissions.

    --  Projects that reduce greenhouse gas emissions, and that are
        approved by the CDM or JI and take place in a qualifying
        country, receive greenhouse gas emission reductions (e.g.,
        ERUs or CERs) for each tonne of CO2 (or CO2 equivalent)
        reduced.

    --  One tonne of CO2 (or CO2 equivalent) reduced by an approved
        project is equal to one greenhouse gas emission reduction.

    --  These emission reductions can then be bought and sold on the
        carbon market.

    --  In addition, these projects often carry other environmental
        and sustainable growth benefits.


AES AgriVerde and Climate Change

    --  AES recently announced plans to commit capital and bring to
        market projects and technologies to help reduce and offset
        greenhouse gas emissions.

    --  AES AgriVerde is AES's first significant direct investment in
        projects that generate such reductions.

    --  AES AgriVerde will register the bio-digesters it installs at
        farms with designated regulatory agencies at the country and
        United Nations level to earn greenhouse gas emission
        reductions under the Joint Implementation or Clean Development
        Mechanism contemplated under the Kyoto Protocol.

    --  By 2012, AES AgriVerde intends to create an annual production
        volume of 20 million tonnes of greenhouse gas emission
        reductions from its bio-digesters.

    --  AES AgriVerde will sell the greenhouse gas emission reductions
        on international markets and share an agreed portion of the
        sale proceeds with farm owners.