International Power appoints David Crane as CEO

16 October 2002 – International Power plc has appointed David Crane as Chief Executive in succession to Peter Giller who becomes Deputy Chairman. The transition will be complete and both appointments will take effect from 1 January 2003.

David Crane, currently Chief Operating Officer, joined National Power in March 2000 and played a pivotal role alongside Peter Giller, the Chief Executive and Phil Cox, Chief Financial Officer, in the launch of International Power on 2 October 2000. Prior to joining the company he was a Senior Vice-President in the Global Power Group at Lehman Brothers and before that he was Vice President/Head of Asia Pacific Region at ABB Energy Ventures. David qualified as an attorney at Harvard Law School after graduating from Princeton University.

Sir Neville Simms, Chairman said: “It is with great pleasure that we now announce our succession plans to ensure an orderly transfer of executive responsibility from Peter Giller to David Crane. The Board is grateful to Peter for his role in the successful demerger which created International Power, and we thank him for his continuing commitment to the company. At the same time we look forward with confidence to the future development of the company under David’s leadership.”

Peter Giller said: “The past two years have been important in establishing a robust organisation with a sound asset portfolio that has placed us in a strong position. With this work now largely complete, it is an appropriate moment for David to take on the role of Chief Executive and to lead the Company in the next stage of our development. I look forward to a continuing involvement with the Company and wish David well in his new role.”