Tom McDaniel Steps Down From Contact Energy Board

30 January 2004
FOR IMMEDIATE RELEASE

Tom McDaniel Steps Down From Contact Energy Board

Contact Energy announced today that Mr Tom McDaniel has resigned as a director of the company effective from today, and thus will not be standing for re-election at the upcoming Annual Meeting.

In tendering his resignation, Mr McDaniel noted that, as the Chief Executive of Edison Mission Energy (EME), it is now necessary for him to devote a significant portion of his time to implementation of EME's restructuring plan announced late last year.

Mr McDaniel advised the board that, in view of these responsibilities, he did not feel that he could devote the time and effort he deemed appropriate for his role as a Contact director.

Mr McDaniel expressed regret that he needed to step down from the Contact board at this time. However, he emphasised that EME remains committed to continuing close involvement with Contact at Board level. In that context, he noted that EME intends to nominate Mr Kevin Smith, Senior Vice President and Chief Financial Officer of EME, to fill the vacancy created by his resignation.

“The Board has accepted Mr McDaniel’s resignation with regret. Tom has many years of experience in the energy sector, enabling him to make thoughtful contributions to board discussions,” said Contact’s Chairman, Mr Phil Pryke.

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