Rurelec Regulatory News (RUR)

25 Feb 2005 10:38

Rurelec PLC25 February 2005 FOR IMMEDIATE RELEASE Rurelec PLC ("Rurelec") Acquisition of power generation equipment out of receivership and onward sale 25th February 2005 Further to its announcement dated 25th January 2005, Rurelec announces that theacquisition of nine Jenbacher 616 gas engines has completed today. The subsequent sale of six machines has also completed, giving rise to a grossprofit to Rurelec on the sale of approximately £333,000 and the carrying valueof engines retained will also be approximately £333,000. Elizabeth Shaw Finance Director For further information contact:Elizabeth ShawTel: +44 (0)20 7793 7676 Rurelec PLC is a British company established to develop rural electrificationprojects in Latin America. It is managed by a team with a strong track recordin developing power projects worldwide and with considerable experience in theelectricity sector in Latin America. Rurelec has two principal businesses: -Ownership of power generation facilities in isolated areas -Management of rural electrification expansion projects funded by the World Bank or multi-lateral development agencies. Rurelec floated on the AIM market of the London Stock Exchange in order to haveaccess to European institutional capital for new power projects and to ensuretransparency for its public sector-funded project management activities. Arbuthnot Securities Limited which is authorised by the Financial ServicesAuthority is acting as nominated adviser to Rurelec and for no one else inconnection with the transactions described herein and will not be responsible toany person other than Rurelec for providing the protection afforded to itscustomers or for advising any other person in relation to the transactionsdescribed herein. This information is provided by RNS The company news service from the London Stock Exchange