Midwest Generation, LLC, Completes Refinancing

Midwest Generation, LLC, Completes Refinancing 


ROSEMEAD, Calif., April 27  /PRNewswire/ -- Midwest Generation, LLC, a
subsidiary of Edison Mission Energy, announced today the completion of the
refinancing of its indebtedness and the related termination of the lease of its
Collins Station facility.  The refinancing consists of $700 million of first
priority secured institutional term loans due in 2011 and the issuance of $1
billion aggregate principal amount of its second priority senior secured notes.
 These notes, issued through a private offering, carry an interest rate of
8.75% and are due in 2034, although holders may require Midwest Generation to
repurchase these notes on May 1, 2014 and on each one year anniversary
thereafter at 100% of their principal amount, plus accrued and unpaid interest.

Midwest Generation used the proceeds of the financings to refinance $693
million of indebtedness (plus accrued interest) guaranteed by it and owed by
its direct parent, Edison Mission Midwest Holdings Co., which was due in
December of this year, and to make termination payments under the Collins
Station lease in the amount of approximately $970 million.  Midwest Generation
also entered into a new $200 million working capital facility that replaced a
prior facility.  This new working capital facility will share the first lien
priority with the term loans.

The term loans, working capital facility and senior notes are secured by, among
other things, liens on substantially all of the coal-fired generating plants
owned by Midwest Generation.

The secured institutional term loans were placed in the institutional term loan
market.  The notes were sold pursuant to Rule 144A and Regulation S under the
Securities Act of 1993, as amended (the "Securities Act"), and may not be
offered or sold in the United States without registration or an applicable
exemption from the registration requirements.  This press release shall not
constitute an offer to sell or a solicitation of any offer to buy such notes
and is issued pursuant to Rule 135c under the Securities Act.

This press release includes forward-looking statements.  Midwest Generation has
based these forward-looking statements on its current expectations and
projections about future events based upon knowledge of facts as of the date of
this press release and its assumptions about future events. These
forward-looking statements are subject to various risks and uncertainties that
may be outside Midwest Generation's control.  Midwest Generation has no
obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.  This press release
should be read in conjunction with Midwest Generation's 2003 Annual Report on
Form 10-K and Current Reports on Form 8-K filed this calendar year. 

DATASOURCE: Midwest Generation, LLC



CONTACT:  media, Kevin Kelley, [phone], or investor relations,

JoAnn Goddard, [phone], both of Edison Mission Energy, for Midwest

Generation, LLC

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