Mirant Completes Sale of Philippine Business

ATLANTA, June 22  /PRNewswire-FirstCall/ -- Mirant Corporation (NYSE:MIR) announced today that it has completed the previously announced sale of its Philippine business to a consortium of The Tokyo Electric Power Company, Incorporated and Marubeni Corporation.  The net proceeds to Mirant after transaction costs and the repayment of $642 million of debt were $3.215 billion.

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.  The company operates an asset management and energy marketing organization from its headquarters in Atlanta.  For more information, please visit http://www.mirant.com/.

Stockholder inquiries:

678 579 7777 

DATASOURCE: Mirant Corporation



CONTACT:  Media, Felicia Browder, [phone],

; or Investor Relations, Mary Ann Arico, +1-678-579-

7553, ; or Sarah Stashak, [phone],

, all of Mirant Corporation



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

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