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MAGMA POWER BOARD OF DIRECTORS NAMES NEW PRESIDENT, CEO AND CHAIRMAN

 MAGMA POWER BOARD OF DIRECTORS NAMES NEW PRESIDENT, CEO AND CHAIRMAN
 SAN DIEGO, Jan. 21 /PRNewswire/ -- Magma Power Company (NASDAQ-NMS: MGMA) of San Diego, today announced that Paul M. Pankratz has been named as the company's president, chief executive officer and chairman of the board.
 Pankratz replaces Andrew W. Hoch as chairman of the board, but Hoch will remain on the board as chairman emeritus. Until June 1991, Arnold L. Johnson was Magma Power's president and CEO. The position has been vacant since then.
 To join Magma, Pankratz will soon retire from The Dow Chemical Company (NYSE: DOW), Midland, Mich., after 35 years in research, manufacturing and management positions. His most recent experience includes vice president of Hydrocarbons, Energy and Materials Management in the Dow Corporate Product Department and participation on the Dow Management Committee. Prior to his present position, he was vice president and director of Operations for Dow U.S.A. and has been a major manager in the Michigan Division and the general manager of the Western Division. Pankratz has also served on the Magma board of directors since 1985.
 "Adding the expertise of Paul Pankratz to our management will strengthen Magma Power and position us for continued strong performance," said Hoch, Magma's former chairman. "His broad experience with Dow and association with Magma Power through his board of directors role brings us an ideal set of skills to guide a new era of growth for us."
 Magma's board also recently elected a new member, Roger L. Kesseler. Kesseler is a Dow vice president, the corporate controller and serves on the Dow Management Committee. He has been at Dow since 1959.
 Magma, a leader in the domestic development of geothermal power plant technology, currently operates four plants in the Salton Sea area of California's Imperial Valley.
 -0- 1/21/92
 /CONTACT: Wallace C. Dieckmann of Magma Power Company, 619-487-9412/
 (MGMA DOW) CO: Magma Power Company; The Dow Chemical Company ST: California, Michigan IN: OIL SU: PER


ML-KK -- DE014 -- 1934 01/21/92 14:27 EST
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Date:Jan 21, 1992
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