Mirant Comments on Settlement with U.S. Department of Justice

ATLANTA, July 12  /PRNewswire-FirstCall/ -- Mirant Corporation (NYSE:MIR) issued the following statement in response to the deferred prosecution agreement announced today between the U.S. Department of Justice and Mirant's subsidiary, Mirant Energy Trading:

We are pleased to reach this settlement and put behind us matters that happened several years ago, before the company entered and then emerged from bankruptcy.  The Department of Justice acknowledges in the deferred prosecution agreement Mirant's cooperation with the government's investigation of this matter and the remedial actions Mirant has previously taken, including self reporting the matter to the Department of Justice and to the Commodity Futures Trading Commission.

The agreement resolves the Department of Justice's inquiry into the reporting of information about natural gas transactions by Mirant trading personnel in 2000 to publications that publish gas price indices. In 2002, Mirant reviewed and amended its external reporting process after industry-wide natural gas reporting problems were identified.

Mirant is a competitive energy company that produces and sells electricity in the United States, and the Caribbean. Mirant owns or leases approximately 11,350 megawatts of electric generating capacity globally. The company operates an asset management and energy marketing organization from its headquarters in Atlanta. For more information, visit http://www.mirant.com/.

Stockholder inquiries:

678 579 7777 

DATASOURCE: Mirant



CONTACT:  Media, Felicia Browder, [phone],

, or Investor Relations, Mary Ann Arico,

[phone], 



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

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