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31 January 2002

International Power Receives 2001 Final Dividend Payment From Hubco

International Power today received from The Hub Power Company (Hubco) GBP 7
million as final dividend for the year ended 30 June 2001.

This is the second dividend paid by Hubco following the resolution of its
dispute with Pakistan's Water and Power Development Authority (WAPDA).

"The timely payment of this dividend demonstrates WAPDA's commitment to
Hubco and also indicates that dividend payments from Hubco can now be
expected as normal course of business", said Peter Giller, International
Power's Chief Executive Officer.

Notes to the Editors:

International Power has a 25.7% equity interest in Hubco. An interim
dividend for the year ended 30 June 2001 was paid to shareholders in
December 2001, which was the first dividend paid to Hubco shareholders
following the settlement of a tariff dispute that caused the suspension of
all dividend payments for a three-year period beginning in 1998.


For further information:

Media contact:
Aarti Singhal
+44 207-320-8681

Investor contact:
Grant Jones
+44 207 320 8619


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