RNS Number:9060N
International Power PLC
24 July 2003

         International Power Presents an Offer to AES Drax Holdings

(London, 24th July 2003)  International Power announces that it has today made
an offer to AES Drax Holdings Limited to acquire up to 15% of Drax Power Plant's
total outstanding debt (circa #1.3 billion) and up to 36% of its equity for a
maximum of #80 million. Although International Power's offer is at a discount to
the face value of the debt, it is at a meaningful premium to the AES offer.  In
addition, the Company has made an offer to manage the plant for a fee.

David Crane, Chief Executive Officer of International Power said, "Prospective
involvement with Drax, as creditor, part-owner and manager is of great interest
to us as it would represent a good opportunity for us to enhance our existing
position in the UK market."

International Power's offer, which is a 30-day offer, is subject to acceptance
by AES Drax Holdings Limited, in collaboration with its Secured Creditors
pursuant to its proposed financial restructuring.

For further information:

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

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

Notes to Editors: -

Drax is a 3,960 MW coal fired power station located 25 miles east of Leeds,
England.

International Power plc is a global independent power producer with 10,990MW
(net) in operation and 610MW (net) under construction. Among the countries where
International Power has facilities, in operation or under construction, are
Australia, the United States, the United Kingdom, the Czech Republic, the UAE,
Portugal, Turkey, Malaysia, Pakistan, and Thailand. International Power was
created in October 2000 and its shares are traded on the London Stock Exchange,
and as ADRs on the New York Stock Exchange under the ticker symbol "IPR".


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

OFFLXLLLXDBXBBZ