Since joining AES in 1994, Jaisinghani has
held senior leadership positions in Asia and the Pacific
region, where he worked in business development and
subsequently led the company's business operations. Prior to joining AES, Jay Kloosterboer held senior
positions at Honeywell International and also worked at General
Electric.

Business Editors

NEW YORK----HSBC Investments (USA)
Inc.researchandmarkets.

t trinidad

Gee has led AES's strategy group
since 2004. Prior to joining AES, he
worked in executive positions in the Venezuelan government,
multilateral and financial institutions and private utilities.

Asia. Brian
Miller was named General Counsel and will continue to serve as
Corporate Secretary. With the company's strong resources and unparalleled
commitment to emerging markets, we couldn't imagine any better partner
than HSBC.

trinidad culture

"Our previous organizational structure by business lines was very
successful and allowed us to achieve strong financial results over the
past two years," said Hanrahan.

Europe, Africa and the Middle East. He joined the company in 2001 and most recently
served as Deputy General Counsel and Corporate Secretary. AES operates in 27 countries, generating 44,000 megawatts of
electricity through 120 power facilities and delivers electricity
through 15 distribution companies. To
learn more about AES, please visit www. HSBC is marketed worldwide as 'the
world's local bank'.

Business Editors/High-Tech Editors

DUBLIN, Ireland----This innovative
report will give telecom managers around the world an immediate
picture of the world's telecom market liberalisation status.

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Hanrahan also announced the creation of a corporate Business
Excellence group which will consolidate many of the corporate
functions into one group responsible for performance improvement and
providing support to AES's regional businesses . Kloosterboer served as Chief Human Resources
Officer since 2003. It will have around 200
investment professionals based in London, New York, Paris and Hong
Kong. Links to each of the regulators is
provided.

The contents of this report are as follows:

Executive Summary

Introduction

Africa

America

Asia

Eastern Europe

Middle East

Western Europe

World Telecom Liberalisation Status

Africa

Americas

Asia

Eastern Europe

Middle East

Western Europe

Key Telecom Players

Africa

Americas

Asia

Eastern Europe

Middle East

Western Europe

TABLE OF FIGURES

Figure 1: World Fixed Local market liberalisation map

Figure 2: World Fixed National market liberalisation map

Figure 3: World Fixed International market liberalisation map

Figure 4: World Mobile market liberalisation map

Figure 5: World Data market liberalisation map

Figure 6: World Internet market liberalisation map

Figure 7: World VoIP liberalisation map

For more information visit
http://www.

tibet politics

and Stone
and Webster Management Consultants . The transaction is expected to close in the second quarter
of 2005. At December 2004, the HSBC
Group as a whole had assets under management of US$476 billion. HSBC Halbis Partners

HSBC is currently seeking legal and regulatory approvals to
establish HSBC Halbis Partners in the USA and other jurisdictions .
Until HSBC Halbis Partners is created in the USA, it will be a trading
name of HSBC Investments (USA) Inc. The HSBC Group

HSBC Holdings plc is headquartered in the UK.

middle east

AES Expands Leadership Team; New Organization Aligns Regional Business Units to Drive Performance

Other AES leaders will be assuming new responsibilities on the
leadership team.5
billion."
Peter Marber, president of The Atlantic, said: "We're thrilled to
join an institution with a great global platform for our specialised
products.

taiwan tibet

The regional
alignment will allow us to capture the benefits of regional
integration, both in terms of our existing businesses and future
expansion opportunities. Andres Gluski will serve as regional President
of the Latin America group.
As announced on 4 May 2005, and subject to receiving the necessary
legal and regulatory approvals, HSBC is establishing HSBC Halbis
Partners, a specialised investment business, into which it intends to
integrate The Atlantic in due course.

asia tobago

Business Editors/Energy Editors

ARLINGTON, Va. Haresh Jaisinghani will serve as regional President of
the Asia group. Our 30,000 people are committed to
operational excellence and meeting the world's growing power needs.
Chris Cheetham, the prospective global CEO of HSBC Halbis
Partners, commented: "This acquisition will significantly enhance
HSBC's capabilities and expertise in managing global emerging markets
fixed income portfolios.

caribbean africa

The regional
presidents will report to AES's President and Chief Executive Officer,
Paul Hanrahan.

Latin America.

He led the
company's business in the Caribbean and Central America and
served as Chairman and CEO of Electricidad de Caracas in
Venezuela and of Gener in Chile. Shahzad Qasim will serve
as regional President of the Europe, Africa and Middle East
group .
The members of the Executive Office, which has key decision-making
authority for the company on management and operational issues,
remain: Richard Darman, Chairman; Paul Hanrahan; Robert Hemphill;
William Luraschi; John Ruggirello; and Barry Sharp.aes.com or contact media
relations at media@aes . Together with other specialist
businesses and HSBC Investments, HSBC Halbis Partners will form part
of HSBC's Group Investment Businesses which, at December 2004, had
assets under management of US$224 billion.com/reports/c12762) has announced the
addition of Telecom Market Liberalisation Status And Key Players -
World to their offering.

The following telecom sectors are covered:

- Fixed Local

- Fixed National

- Fixed International

- Mobile

- Data

- Internet

- VoIP

The second section of the report will provide you with an
extensive list of over 1,350 of the world's main fixed, mobile and
Internet players with links to their respective web site, this on a
country per country basis.

togo middle

The organizational
changes also streamline some corporate functions in order to more
effectively support AES businesses around the globe. is to acquire Atlantic Advisors LLC ('The Atlantic'), a privately
held fixed income investment management company headquartered in New
York City. The
core portfolio management team of Peter Marber, Michael Gagliardi and
Denise Simon collectively have more than 50 years of experience
investing in markets in Asia , Africa, Eastern Europe, Latin America,
the Caribbean and the Middle East.

taiwan culture

and Baker Hughes.

HSBC to Acquire Atlantic Advisors

"

Notes to editors:

1. HSBC Halbis Partners will be a
specialised fundamental active investment business, focusing on
delivering sustainable , value-added performance in selected areas
including fixed income, Asian and emerging markets equities , European
equities, and some alternative strategies.researchandmarkets.

country turkey

Research And Markets: Examine The Worldwide Telecom Market Liberalisation Status And Key Players Right Now

regional taiwan

He formerly served as General Counsel. At 31 December 2004, The Atlantic
had assets under management of over US$700 million.
"This acquisition also confirms and strengthens our commitment to
building HSBC Halbis Partners into a focused 'alpha' business. With assets of US$1,277 billion
at 31 December 2004 , HSBC is one of the world's largest banking and
financial services organisations.

middle society

Prior to joining AES, he was with PG+E
Corporation, McKinsey and Company, Inc. Since joining AES in 2000, Gluski
has held several senior leadership positions. Jay Kloosterboer will
lead this function . It is the latest addition to HSBC's fixed
income business, headed by Gregg Diliberto, and gives us a team of
well known professionals with an impressive track record. The HSBC Group
serves over 110 million customers worldwide from over 9,800 offices in
77 countries and territories in Europe , the Asia-Pacific region, the
Americas, the Middle East and Africa.

east politics

country regional

----The AES Corporation
(NYSE:AES ) today announced the expansion of its leadership team and a
new regional organizational structure to drive business performance
and position the company for long-term quality growth. "The timing is right to move the
organization to the next level of business performance. Since joining AES in 1992, Qasim has held senior
leadership positions in the Middle East and North Africa,
where he worked in business development and subsequently led
the company's business operations. The first
part of this report will provide you with an outlook of the
liberalisation status of each of the world's 192 countries also
identifying crutial information such as VoIP liberalisation .
Research and Markets
(http://www.

regional asia

east togo

The new structure includes the addition of four regional
presidents to lead AES's businesses in 27 countries."

AES's four new regional business groups and leaders include:

North America. David Gee will serve as regional President of
the North America group. William Luraschi will lead Corporate Development and
Strategy.

About AES

AES is a leading global power company, with 2004 sales of $9.com/reports/c12762

by country

The businesses will be aligned on a regional basis as
compared to the previous business line structure . Before joining AES, he was
with the consulting firms McKinsey and Company, Inc. He has been with AES
since 1993 and played a significant role during the company's
restructuring, leading its successful asset sales program.com

The Atlantic is a leading specialist manager of global emerging
markets fixed income products for some of the world's largest
corporations as well as institutional and individual investors.