Press Releases

15/11/2001

Quarterly Results for Nine Months Ended 30 September 2001

Full announcement including financials in PDF format .

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For more information about the Quarterly Results please go to the Results Announcements section.

(London - 15 November 2001) International Power plc, one of the world's leading independent power producers, today announces its results for the nine-month and three-month periods ended 30 September 2001 and also reports on key accomplishments during the year to date.

"Each of our three core regions has delivered strong operating performance in the first nine months of 2001," said International Power Chairman Sir Neville Simms. "The divestment of UFG together with internally generated cash flow has strengthened our balance sheet, and provided us with increased financial flexibility for business development," he added.

Highlights for nine months to 30 September 2001:

Strong financial growth:

PBIT up 46% to £240m from £164m in 2000
Earnings per share (basic) up 85% to 9.8p from 5.3p in 2000
Operating cash flow of £202m (vs. £11m in 9 months to 31 December 2000)

Key performance drivers:

5 CCGT's added in US in 2001, and operated during summer peak demand period
Operating performance of power plants in all regions has been good
Strong profit contribution from each of our three core regions

Other key developments since our half-year results:

$540 million revolving credit facility and £370 million UFG sale proceeds have strengthened balance sheet and increased our financial flexibility
Good progress in Middle East on Al Kamil construction (Oman) and Shuweihat development (Abu Dhabi)
Development projects in New York and Italy on track
Hubco interim dividend for 2001 approved for distribution; Hubco final dividend for 2001 declared

For further information:

Media contact: (Europe)	Aarti Singhal +44 (0)20-7320-8681

Investor contact: (Europe)	Grant Jones +44 (0)20-7320-8619

Media & Investor contact: United States)	Paul Parshley +1 508-922-3124

Note to editors

International Power plc is one of the world's leading independent electric generating companies with around 8,850 MW (net) in operation, 2,350 MW (net) under construction and approximately 8,000 MW (net) in advanced development. Among the countries where International Power has operating facilities are Australia, the United States, the United Kingdom, the Czech Republic, Portugal, Turkey, Malaysia, Pakistan, and Thailand. International Power was created from the demerger of National Power, and its shares began trading independently on the London Stock Exchange and as ADRs on the New York Stock Exchange on 2 October 2000. The ticker symbol on both stock exchanges is "IPR".