Exhibit 99.1

 

News Release

 

Media contact:

Felicia Browder,678 579 3111

felicia.browder@mirant.com

 

Investor Relations contacts:

Mary Ann Arico, 678 579 7553

maryann.arico@mirant.com

 

Steve Himes, 678 579 3655

steve.himes@mirant.com

 

Stockholder inquiries:

678 579 7777

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February 29, 2008

Mirant Announces Strong 2007 Results, Authorization
of Further Share Repurchases and 2009 Guidance

 

   

2007 net income from continuing operations of $433 million compared to 2006 net income from continuing operations of $1.752 billion

 

   

2007 adjusted EBITDA from continuing operations of $988 million, a 52% increase over 2006 adjusted EBITDA of $648 million

 

   

Fourth quarter 2007 adjusted EBITDA from continuing operations of $214 million, a 23% increase over fourth quarter 2006 adjusted EBITDA of $174 million

 

   

Authorization of open market share repurchases for the remaining $2.6 billion of the $4.6 billion of cash to be returned to stockholders

 

   

Initiated 2009 adjusted EBITDA guidance of $1.011 billion

ATLANTA – Mirant Corporation (NYSE: MIR) today reported that net income from continuing operations for the year 2007 was $433 million compared to $1.752 billion for the year 2006. Diluted earnings per share from continuing operations for the year 2007 were $1.56 per share, compared to diluted earnings per share from continuing operations of $5.90 for the year 2006.


The following information was filed by Mirant Corp (MIR) on Friday, February 29, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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