Mirant Announces Share Repurchase Program

ATLANTA, Sept. 28  /PRNewswire-FirstCall/ -- Mirant Corporation (NYSE:MIR) announced today that its Board of Directors has authorized a $100 million share repurchase program. The company intends, from time to time until September 30, 2007, as business conditions warrant, to purchase common stock on the open market or in negotiated transactions.

August 21, 2006, marked the expiration of the company's recent "Dutch auction" self tender offer, in which the company repurchased 43,000,000 shares of common stock for an aggregate of approximately $1.23 billion. As of September 8, 2006, Mirant had approximately 257 million shares of common stock (basic) outstanding and approximately $1 billion in cash and short-term investments.

Mirant is a competitive energy company that produces and sells electricity in the United States, the Caribbean, and the Philippines. Mirant owns or leases approximately 17,300 megawatts of electric generating capacity globally. The company operates an asset management and energy marketing organization from its headquarters in Atlanta. For more information, please visit http://www.mirant.com/.

Some of the statements included herein involve forward-looking information. Mirant cautions that these statements involve known and unknown risks and that there can be no assurance that such results will occur. There are various important factors that could cause actual results to differ materially from those indicated in the forward-looking statements, such as, but not limited to, the impact of market and business conditions from time to time on the company's determinations whether to repurchase shares under the repurchase program, and other factors discussed in Mirant's Form 10-K for the year ended December 31, 2005, and its Form 10-Q for the quarter ended June 30, 2006. Mirant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Stockholder inquiries:

678 579 7777 

DATASOURCE: Mirant Corporation



CONTACT:  Media, Camille Evans, [phone], or

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Stockholder inquiries, [phone]



Web site:  http://www.mirant.com/

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