EXHIBIT 99
EDISON INTERNATIONAL LOGO News Release
FOR IMMEDIATE RELEASE
Contact: Kevin Kelley, (626) 302-7835
www.edisonnews.com
Edison Mission Energy and Edison International Announce
Sale of International Power Generation Portfolio
IRVINE, Calif. (USA), July 30, 2004 - Edison Mission Energy (EME) and its parent Edison International
(NYSE: EIX) today announced that EME has entered into an agreement to sell its remaining 5,381 MW (net)
international power generation portfolio, owned by a Dutch holding company which EME refers to as the "BV", to a
consortium comprised of International Power plc (70%) and Mitsui & Co., Ltd. (30%). The purchase price is
$2.3 billion, subject to certain purchase price adjustments prior to closing resulting in an expected net purchase
price of approximately $2.2 billion.
The BV sale agreement is an important step toward EME achieving its previously announced intention to
sell its entire international portfolio of generation assets in Europe, Asia Pacific and Puerto Rico. Closing of
the BV transaction is subject to approval by International Power's shareholders, and to a number of regulatory
approvals and project level consents. The sale is expected to close in the fourth quarter of 2004.
This transaction follows EME's recently reported sale of its 51.2% holding in Contact Energy Ltd. to
Origin Energy Limited for approximately $750 million. Together, these two transactions represent an aggregate
equity purchase price of $3.05 billion, which is expected to yield proceeds of approximately $2.5 billion to EME
after taxes and transaction expenses.
Upon closing, these transactions will complete the third step in EME's four step restructuring plan
announced in November 2003. These transactions combined with the tax benefits from the decommissioning of the
Collins Power Station in Illinois will generate approximately $2.8 billion of cash from restructuring
activities. EME plans to use this cash to begin the fourth and final delevering step of its restructuring plan
by paying down an $800 million bridge loan of Mission Energy Holdings International, Inc, a direct subsidiary of
EME.
After completion of the BV and Contact sales, a financially healthier EME will be focused on its
domestic operations, which include approximately 7,500 MW of low cost, coal-fired generation and just under 1,100
MW of contracted gas-fired generation located predominantly in California.
- MORE -
International Power plc is a global independent electricity generating company with 11,210MW (net) in
operation and 1,655MW (net) under construction. International Power has power plants in operation or under
construction in Australia, the United States, the United Kingdom, the Czech Republic, Portugal, Turkey, the UAE,
Oman, Saudi Arabia, Malaysia, Pakistan and Thailand.
Mitsui & Co., Ltd. is a major Japanese trading company engaged in a number of worldwide commodity
businesses, including power and energy-related products, iron & steel, non-ferrous metals, machinery,
electronics, chemicals, food products, textiles, general merchandise and real estate. Mitsui's other businesses
include industrial project management, information technology, biotechnology and financial services.
Lehman Brothers and Credit Suisse First Boston are acting as financial advisors to EME on the sale of
its international assets.
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Based in Rosemead, Calif., Edison International (NYSE:EIX) is the parent company of Southern California
Edison, Edison Mission Energy, and Edison Capital.
Edison International (EIX)
Filed: 2 Aug 04, 12:00am