Ashmore Energy International Agrees to Sell Its 51% Stake in Bahia Las Minas Corp.

HOUSTON & PANAMA CITY, Panama -- Ashmore Energy International ("AEI") announced today that it has entered into an agreement to sell its 51% indirect stake in Bahia Las Minas Corp. (BLM), a Panamanian generation company, to Suez Energy International. AEI, which also controls the Panamanian electrical distribution company Elektra NORESTE, undertook the divestiture after its acquisition of Prisma Energy International in September 2006, pursuant to Panamanian legislation limiting the common control of distribution and generation companies within the territory of Panama.

Under the leadership of AEI, BLM recently began undertaking a repowering project to convert its heavy fuel oil 120 MW steam plant into a coal plant, which will be Panama's lowest cost thermal producer. The conversion is expected to be completed in 2009 and will help lower the local energy price.

Elektra NORESTE is the second largest electricity distribution company in Panama, serving a 20 thousand square mile concession. With an installed capacity of 780 MVA and invoicing 42% of Panamas' energy consumption, it has 312,000 consumers. The company has had a 48% reduction in energy losses since inception, due mainly to a socially responsible program reaching the community associated with non-technical losses, which converted 75,000 former illegal consumers into regular customers.

The distribution company has invested over US $165 million to reduce technical losses, expand and improve its operation, including quality of service, showing a 75% reduction in the average amount of energy interruptions per client since the year 2000, as well as an 87% reduction in the average duration of these interruptions.

Ashmore Energy International ("AEI") is an owner and operator of essential energy infrastructure in emerging markets. AEI manages interests in a group of 20 energy assets located in 13 countries with more than US $2 billion in revenue and 8,300 employees. The company serves approximately 6.6 million customers worldwide by operating through three business segments: Natural Gas Services, Power Distribution and Power Generation with approximately 34,188 KM of oil and gas pipelines, 121,372 KM of electric transmission and distribution lines, and a gross installed capacity of approximately 1,914 MW. You can visit the AEI website at www.ashmoreenergy.com.