Freddie Fisher appointed new director of Rurelec

Rurelec is pleased to announce the appointment of Frederick G. Fisher III as an independent non-executive Director of the Company with immediate effect.

Freddie graduated from Harvard University and subsequently gained an MA from Oxford University and his MBA from Harvard Business School before starting his 30 year career in international investment banking and finance, much of it spent in the City of London. Freddie has extensive experience in negotiating transactions both on behalf of clients and as principal. As an investment banker he was active in mergers and acquisitions around the world, particularly in the banking sector. Latterly Freddie has been Chairman and Deputy Chairman of expanding companies in the film, property and European gaming industry. Freddie has written five finance textbooks on eurobonds, international M&A and derivatives.

In addition to his duties as non-executive director, Freddie has also accepted his nomination as Chairman of the Audit Committee. Freddie does not currently have an interest in the share capital of the Company.

Commenting on the appointment Peter Earl, Managing Director of the Company, said:

"We are delighted that Freddie will be joining our Board at Rurelec. Freddie's experience and knowledge of international banking and finance will be of huge value to the Company as we continue to expand our portfolio of power projects in South America."

For further information, please contact:

Peter Earl
Managing Director Tel. 020 7793 5610

Stewart Dick / Paul Shackleton
Daniel Stewart & Company Tel. 020 7776 6550