AES Supports Progress on the U.S.-Korea Free Trade Agreement

ARLINGTON, Va. December, 5 2010: The AES Corporation supports the recent efforts by the governments of the United States and the Republic of Korea in completing the U.S.- Korea Free Trade Agreement and encourages the Obama administration and Congress to ratify the Agreement in early 2011. According to the U.S. government, the Korea U.S. Free Trade Agreement will boost U.S. exports to Korea by nearly $11 billion. Currently, U.S. exports to Korea face an average applied tariff of 11.2 percent, while the equivalent U.S. tariff on Korean exports is 3.7 percent.

Paul Hanrahan, President and CEO of AES, stated, "AES is encouraged by the progress between the United States and the Republic of Korea on the U.S.-Korea Free Trade Agreement. We believe that the terms of this Agreement and its ability to set the stage for increased trade between US and Asian markets, such as Korea, will help to create service and manufacturing jobs in the U.S and to enable further economic growth in Asia. This will generate increased demand for power and power- related products and services across the region. At AES, our 27,000 people worldwide look forward to meeting these needs and welcome a closer relationship with our Korean and Asian partners."

Mr. Hanrahan recently visited India as part of the US-India CEO Forum delegation and expressed support for President Obama's efforts to increase economic integration with the fastest growing markets in the world, such as India, Korea, and other Asian markets. AES has power generation and distribution companies in 29 countries and the majority of the company's development efforts are in Asia.

About AES

The AES Corporation is a Fortune 500 global power company with generation and distribution businesses. Through our diverse portfolio of thermal and renewable fuel sources, we provide affordable and sustainable energy to 30 countries. Our workforce of 27,000 people is committed to operational excellence and meeting the world's changing power needs. Our 2009 revenues were $14 billion and we own and manage $40 billion in total assets. To learn more, please visit www.aes.com.