RNS Number:6287N
International Power PLC
16 July 2003


This release is not for distribution, directly or indirectly into Canada and
Japan


                                 Press Release

International Power plc has successfully placed its US$241.23 Million Senior
Convertible Bond Offering

London, 16 July 2003 - Following the closing of the subscription period,
International Power plc ("International Power" or the "Company"), announces the
successful placement of its US$241.23 million offering of senior convertible
bonds.

The conversion price has been set at US$ 3.18 per ordinary share of
International Power (the "Shares") based on a conversion price in Sterling of
#2.00.  This represents a conversion premium of 50% to the reference price.

The issue price of the Convertible Bonds is 100%.  The coupon has been set at
3.75% per annum.  The Convertible Bonds will be redeemed at their principal
amount on the maturity date (which is expected to be on or about 22 August,
2023), unless previously redeemed, converted or purchased and cancelled.

International Power has granted the Joint Global Co-ordinators, on behalf of the
syndicate, an option, exercisable until the closing date of the transaction ("
over-allotment option"), to purchase up to an additional US$24.123 million
principal amount of the Convertible Bonds.

As, if and when issued trading will commence on 17 July 2003, the first trading
day after closing of the subscription period.  Listing of the Convertible Bonds
on the London Stock Exchange is expected to take place on or about 22 August,
2003.


                                - DISCLAIMER -


This document is not an offer of securities for sale into the United States.
The Convertible Bonds have not been and will not be registered under the US
Securities Act of 1933, as amended ("Securities Act") and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirement of the Securities Act. There will be no public
offer of securities in the United States.

In the United Kingdom this announcement is directed exclusively at persons who
fall within article 19 or 49 of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2001.  The Convertible Bonds referred to in this
announcement shall be issued only to such persons.

Stabilisation/FSA.


If you have questions, you may contact:

Philip Cox        Chief Financial Officer                          020-7320-8640
Grant Jones    Director of Communications                          020-7320-8619



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