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MAGMA POWER CO. NAMES RALPH BOEKER CHIEF EXECUTIVE OFFICER

 SAN DIEGO, Jan. 12 /PRNewswire/ -- Magma Power Co. (NASDAQ: MGMA) announced that its board of directors has named the company's president, Ralph W. Boeker, to the additional position of chief executive officer, effective Jan. 11. Boeker succeeds Paul M. Pankratz, who will continue to serve as chairman of Magma Power Co.'s board of directors.
 "Naming a new chief executive officer is consistent with our organizational development efforts and the general succession scenario put in place about two years ago," said Pankratz. "With our growth strategy now defined and moving ahead, the time is right to proceed with the orderly transition begun when we hired Ralph as president last year. Ralph has had a major, positive impact on the development and execution of our growth strategy, including the addition of new projects in the Philippines and in California, and as CEO he will no doubt continue to make significant contributions to our progress," Pankratz added.
 As chief executive officer, Boeker (60) will assume additional responsibility for strategic direction and management of the company. Boeker joined the company in January of 1993 as president, with the initial assignment of focusing on Magma's business development activities. He came to Magma from The Dow Chemical Co., where he was a group vice president and a member of Dow Chemical's Corporate Management Committee. As a career executive with Dow, Boeker served in a variety of commercial development, sales and marketing positions, including extensive experience in international markets.
 As chairman of Magma Power, Pankratz (61) will focus on board- related matters, achieving additional operating efficiencies at the company's existing facilities in the Imperial Valley of California and supporting future expansion activities both in the Valley and overseas.
 Pankratz, who joined Magma Power in February 1992, has served on Magma's board of directors since 1985. He also came to the company from Dow, with 35 years of experience in research, manufacturing and management positions.
 Magma operates seven geothermal power plants in Southern California on geothermal leaseholds and fee interests held by the company and holds additional geothermal leasehold and fee interests in other parts of California and Nevada.
 -0- 1/12/94
 /CONTACT: Wallace C. Dieckmann, CFO, 619-622-7800/
 (MGMA)


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

JM-LS -- SD002 -- 1259 01/12/94 08:03 EST
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Publication:PR Newswire
Date:Jan 12, 1994
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