CORRECTION: MIRANT 2002 OPERATING REVENUE AND OPERATING COST

PR Newswire | 26 April 2004

[MeneMeneTekelUpharsin]

ATLANTA, Apr 19, 2004 /PRNewswire-FirstCall via COMTEX/ -- Mirant (Pink Sheets: MIRKQ) today announced that its operating revenue for 2002 was $4.7 billion, a figure consistent with the company's 2003 Form 10K. In a news release issued by the company this morning, operating revenue for 2002 was erroneously reported as $4.1 billion. Mirant reported operating revenue of $5.2 billion for 2003. Additionally, Mirant's cost of fuel, electricity and other products for 2002 was $2.5 billion, as stated in the 2003 Form 10K. The news release erroneously reported this cost as $1.8 billion. All of Mirant's financial filings, including the 2003 Form 10-K, are available on www.mirant.com.

Mirant is a competitive energy company that produces and sells electricity in North America, the Caribbean, and the Philippines. Mirant owns or controls more than 17,000 megawatts of electric generating capacity globally. The company operates an asset management and energy marketing organization from its headquarters in Atlanta. For more information, please visit www.mirant.com .

[MeneMeneTekelUpharsin]

Little by little. Here's the message board:

Click here for Mirant (Was SO) message board.

This is one to watch, if nothing else, for the history lesson.

[spodefly]

I'll bump this to the top, although I am not entirely sure why.

BTW- the symbol is now MIRKQ.PK

[MeneMeneTekelUpharsin]

Yes, you are correct. The common is MIRKQ and the preferreds are MIRPQ. This is an interesting bankruptcy case. I post stories here to document the whole thing (it's been over a year in process). Might make it a little easier for someone to do research in the future on some of the information.

[spodefly]

Any thoughts on the possibility that their stock might climb out of the toilet? Most of the pink sheet stocks have worse odds than Vegas, but if you catch the right one, it doesn't take too much of an investment to return some nice profits.

[MeneMeneTekelUpharsin]

It climbed over 9% just today (closed at .355) . A very large block transaction went through at the increased price. So, someone seems to be accumulating. I believe tomorrow in bankruptcy court, we're going to find out if they get an extension on filing the Plan of Reorganization and that will be a significant factor. If they get the extension, it will be very good news.

You might want to click on the message board link above. Lots of good information there (both pro and con). Makes good reading.