Updated information regarding Loma de la Lata´s expansion project

For Immediate Release

Pampa Energía updates information regarding Loma de la Lata’s expansion project

Buenos Aires, March 31, 2011. Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP) (“Pampa” or the “Company”) informs that yesterday Central Térmica Loma de la Lata S.A. (“CTLL”) accepted an offer by Isolux Corsan Argentina S.A. and Tecna Estudios y Proyectos de Ingeniería S.A. (the “UTE”) by which the mechanisms to solve the technical problems that were previously informed to the CNV and BCBA on February 18 and March 2, 2011 are established, as well as the procedures to be followed for the start of commercial operation of CTLL’s generation installed capacity expansion.

Additionally, Pampa informs that, under the terms and conditions of the referred offer, the UTE in its role of contractor grants CTLL an exceptional discount equivalent to the amounts related to the last payment milestone under the Contracts (Provisional Acceptance), including the adjustments provided under the Construction Contract, which is valued at US$18,000,000.

For further information, contact:
Ricardo Torres – Chief Executive Officer
Mariano Batistella – Strategic Planning and Investor Relations
3302 Ortiz de Ocampo, Building #4
(C1425DSR) Ciudad Autónoma de Buenos Aires, Argentina
Phone: 5411 4809 9500