Paul Hastings Awarded Latin American Deal Of The Year By Project Finance Magazine

March 24, 2005

Stamford, CT (March 24, 2005) - - Paul, Hastings, Janofsky & Walker LLP (Paul Hastings), a leading international law firm, is pleased to announce that the firm's Global Projects Group has been recognized for its work on the $300 million Tuxpan V Power Project, named "Latin American Deal of the Year" by Project Finance Magazine.

The Global Projects Group served as legal counsel to the project sponsors – Mitsubishi Corporation and Kyushu Electric – in the financing of this 495 mega-watt gas-fired plant, which marked only the second new Independent Power Project (IPP) deal in the country in 2003. The deal represented a milestone as the first Mexican IPP in which financing was completed before construction. The project is part of Mexico's ambitious plans to add 25,000 megawatts of generating capacity by 2012.

"The negotiating of comprehensive financing terms, while adhering to a strict timetable, ultimately enabled Tuxpan V to be distinguished as the first Mexican IPP to secure financing before construction," said John Hawkins, head of the Global Projects Group. "The recognition that Tuxpan V has received as a result, from industry leading authorities such as Project Finance Magazine, speaks directly to the overall caliber and strength of Paul Hastings' project finance team."

Paul Hastings Global Project Group: Paul Hastings has provided legal services in project finance and development for over 20 years. We have been at the forefront in guiding clients through the challenges and opportunities in the industry. The projects practice extends throughout the United States, Latin America, Asia, Africa, the Middle East and Europe and includes over 30 dedicated attorneys.
Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is an international law firm, representing Fortune 500 companies with more than 1,000 attorneys located in 15 offices: Atlanta, Beijing, Brussels, Hong Kong, London, Los Angeles, New York, Orange County, Paris, San Diego, San Francisco, Shanghai, Stamford, Tokyo and Washington, DC.