New Chief Executive For Contact Energy

22 September 2005

FOR IMMEDIATE RELEASE

New Chief Executive For Contact Energy

Contact Energy Chairman, Mr Grant King, today announced the appointment of Mr David Hunt to the position of Chief Executive, effective from 1 October 2005.

The appointment follows an executive search process that began earlier this year to identify a replacement for Mr Steve Barrett, who retires on 30 September to return to the United States.

Mr Hunt has worked in the energy sector for over 10 years, and is currently the Executive General Manager, Corporate Development, for Origin Energy.

Prior to filling that position, Mr Hunt worked at Contact Energy from 1996 in a range of corporate, business development and strategy roles, most recently as General Manager, Corporate Development.

On making this announcement, Mr King paid tribute to the leadership of the company provided by Steve Barrett since his appointment as Chief Executive in September 2000.

“Steve has presided over a very successful period in Contact Energy’s growth and consolidated the company’s leadership position in the energy industry in New Zealand,” said Mr King.

Mr Hunt is to be paid a base salary of $550,000 and will be eligible for short term and long term incentive payments, each up to 50% of base salary, subject to the achievement of financial and non-financial objectives for the year.

“The Contact Energy board is pleased to make this appointment to the company’s most senior executive role,” said Mr King.

“David’s mix of skills and experience makes him best suited to leading Contact through the next phase of its development.”

ENDS

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