March 13, 2009  
ASBESTOS LITIGATION: 114 Suits Pending v. IPALCO Unit at Dec. 31

IPALCO Enterprises, Inc.'s subsidiary, Indianapolis Power &
Light Company, faced 114 pending asbestos-related lawsuits as of
both Dec. 31, 2008 and Dec. 31, 2007.

IPL faced about 113 pending asbestos-related lawsuits as of
Sept. 30, 2008. (Class Action Reporter, Nov. 21, 2008)

The suits allege personal injury or wrongful death stemming from
exposure to asbestos and asbestos containing products formerly
located in IPL power plants. IPL has been named as a "premises
defendant" in that IPL did not mine, manufacture, distribute or
install asbestos or asbestos containing products.

These suits have been brought on behalf of persons who worked
for contractors or subcontractors hired by IPL.

IPL has insurance which may cover some portions of these claims.
Currently, these cases are being defended by counsel retained by
various insurers who wrote policies applicable to the period of
time during which much of the exposure has been alleged.

IPL has settled a number of asbestos related lawsuits for
amounts which, individually and in the aggregate, were not
material to IPL's results of operations, financial condition, or
cash flows. Historically, settlements paid on IPL's behalf have
been comprised of proceeds from one or more insurers along with
comparatively smaller contributions by IPL.

Headquartered in Indianapolis, IPALCO Enterprises, Inc.'s
principal subsidiary is Indianapolis Power & Light Company, a
regulated electric utility with its customer base concentrated
in Indianapolis. The Company's business consists of the
generation, transmission, distribution and sale of electric
energy conducted through IPL.
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