TEXT-Fitch release on Compania General de Electricidad

(The following statement was released by the rating agency)

April 25 - Fitch Ratings has downgraded the international scale Issuer Default Rating (IDR) in local and foreign currency of Compania General de Electricidad CGE.SN S.A. (CGE) to 'BBB+' from 'A-'.

In addition, Fitch has taken the following rating actions on the Chilean national scale: CGE:

--Local bonds downgraded to 'AA-(chl)' from 'AA(chl)'.

--Commercial paper affirmed at 'F1+'. CGE Distribucion S.A. (CGE Distribucion):

--Local bonds downgraded to 'AA(chl)' from 'AA+(chl)'. CGE Transmision S.A. (CGE Transmision):

--Local bonds downgraded to 'AA(chl)' from 'AA+(chl)'. Cia. Nacional de Fuerza Electrica S.A. (Conafe):

--Local bonds downgraded to 'AA(chl)' from 'AA+(chl)'. Empresas Emel S.A. (Emel):

--Local bonds affirmed at 'AA(chl)'.