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MAGMA POWER CO. NAMES NEW PRESIDENT

 SAN DIEGO, Jan. 27 /PRNewswire/ -- Magma Power Co. (NASDAQ: MGMA) today announced that its board of directors has named Ralph W. Boeker as the company's president, effective March 1, 1993. Boeker succeeds Paul M. Pankratz, who will continue to serve as Magma Power Co.'s chairman and chief executive officer.
 Boeker joins Magma Power from The Dow Chemical Co., where he is currently group vice president - Chemicals, Performance Products and Hydrocarbons at Dow North America and a member of Dow Chemical's Corporate Management Committee. A career executive with Dow, Boeker has served in a variety of key commercial development, sales and marketing positions, including extensive international experience as vice president of the Corporate Product Department.
 Commenting on the announcement, Pankratz said that Boeker will focus initially on Magma's business development opportunities while overseeing a number of vital projects currently under development.
 "Boeker brings outstanding commercial, organizational and strategic skills to Magma Power," stated Pankratz, "and he will contribute significantly to the company's ongoing growth. He is an outstanding team builder and player, and has a proven track record of getting results. We have every confidence he'll extend that record at Magma."
 Magma Power Co., a San Diego-based firm, holds geothermal leaseholds in California and Nevada, and manages and operates geothermal power plants in which it owns a significant interest. Magma Power also receives royalties, management service fees, interest and rental income from the plants and properties and earns substantial investment income.
 -0- 1/27/93
 /CONTACT: Wallace C. Dieckmann, VP, treasurer and controller of Magma Power, 619-622-7800/
 (MGMA)


CO: Magma Power Co. ST: California IN: UTI SU: PER

EH-JL -- SD001 -- 9409 01/27/93 07:33 EST
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Publication:PR Newswire
Date:Jan 27, 1993
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