Acquisition

RNS Number:8290R
Scottish & Southern Energy PLC
07 November 2003

7 November 2003



                            SCOTTISH AND SOUTHERN ENERGY plc
                    COMPLETION OF ACQUISITION OF MEDWAY POWER LTD


Scottish and Southern Energy plc ('SSE') has today completed the acquisition of
the balance of the equity interests in Medway Power Ltd ('Medway') from AES and
EDF Energy for a total consideration of #89.8m in cash plus assumed net debt in
Medway of #140.9m.


SSE has also acquired AES Medway Operations, a wholly-owned subsidiary of AES,
which operates and maintains the power station, for a consideration of #11.7m in
cash and will have full responsibility for the management and operation of
Medway.  The total value of the transaction is, therefore, #242.4m.


SSE already owned 37.5% of the equity interests in Medway and so has become the
sole owner of the business, which comprises a 700MW combined cycle gas turbine
(CCGT) power station on the Isle of Grain in Kent.


The acquisition means that the capacity of SSE's wholly-owned power stations and
SSE's share of power station joint ventures is now 5,500MW, which is around 8%
of the UK total.  SSE's portfolio comprises gas-fired and renewable generation.
The acquisition is expected to be earnings enhancing, pre and post goodwill, in
the first year.


Visiting Medway today, Ian Marchant, Chief Executive of SSE, said: "I am very
pleased to have completed this acquisition, which enables us to add another
modern, flexible and efficient power station to our group of generation assets.
I am also pleased to welcome the team at Medway to SSE."


                                    - ENDS -


For further information please contact

Scottish and Southern Energy plc

Alan Young - Director of Corporate Communications        [phone]
Denis Kerby - Investor and Media Relations Manager       [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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