AES files for listing on the New York Stock Exchange.

ARLINGTON, Va.--(BUSINESS WIRE)--Sept. 18, 1996--The AES Corp. (NASDAQ:AESC) announced Wednesday that it has filed an application with the New York Stock Exchange for the listing of AES common stock.

If accepted, trading on the NYSE could begin in late October.

Roger W. Sant, chairman of AES, stated, "This decision has been under consideration by the Board for some time. The continued globalization of our business was the driving force to make the shift.

"Ultimately, we could not ignore the calls from the AES people in our divisions around the world as well as several of our shareholders who felt that a NYSE listing was more consistent with our global business."

Dennis W. Bakke, president and chief executive officer stated, "This is an exciting and significant milestone in the history of AES. It comes during a year when we have been extraordinarily successful in developing new businesses in many parts of the world. These are difficult decisions but the shift seems right for the company."

1996 has been an extraordinary year for AES. Development milestones include the following: -0-

-- In August, AES and a partner acquired Ekibastuz GRES-1, a 4,000 MW mine-mouth coal-fired power station in Kazakstan.

-- In August, AES Chigen funded Wuhu Zhaoda, a 250 MW coal-fired facility under construction in Anhui Province, China.

-- In July, AES won a bid to supply electricity from a new, greenfield 288 MW simple cycle, gas turbine power station in Townsville, Queensland, Australia.

-- In July, AES acquired three power plants totaling 1,281 MW and a coal mine through the purchase of an 81% share of Tiszai Eromu Rt., an electricity generation company in Hungary.

-- In May, AES, along with partners completed the purchase of a controlling interest in Light, the 3,800 MW integrated electric utility that serves Rio de Janeiro, Brazil.

-- In April, AES Chigen funded Jiazuo Wan Fang, a 250 MW coal-fired facility which is under construction and located in Henan Province, China.

-- In April, AES reached agreement to acquire a site in northern Poland, which included the exclusive right to negotiate a power sales agreement for a natural-gas-fired project. This step was the result of a competitive solicitation in 1995.

-- In March, AES purchased AES San Juan, a hydro-thermal company in Argentina that consists of the 45 MW Ullum hydro facility and the 33 MW Sarmiento thermal plant.

-- In January, AES closed the financing of the 337 MW PakGen oil-fired plant in Pakistan. -0-

AES is a leading global power company that generates, sells or markets electricity in over 35 countries. The Company currently has over $2.8 billion in assets and, for the year ending Dec. 31, 1995, earned net income of $107 million on revenues of $685 million.

For more general information visit our web site at www.aesc.com or contact investor relations at [e-mail]

CONTACT: AES Corp., Arlington

Kenneth R. Woodcock, 703/522-1315