Updated information on technical faults in LLL steam turbine

For Immediate Release

Pampa Energía updates information on Turbine at Loma de La Lata Power Plant

Buenos Aires, March 2, 2011. Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP) (“Pampa” or the “Company”) informs in relation to Central Térmica Loma de la Lata (“CTLL”) that Isolux Corsan Argentina S.A. and Tecna Estudios y Proyectos de Ingeniería S.A. – Unión Transitoria de Empresas (the “UTE”) has informed us that the corrections to the technical problems detected in the Steam Turbine unit, which composes part of CTLL’s installed capacity expansion project, will require more time than the Company previously informed on February 18 of this year.

In spite of the fact that the Company is seeking more accuracy with respect to the timeline set forth by the UTE and that we will do our best efforts to reduce the time necessary to correct the technical problems, it is now estimated that the commercial operations date could take place within the next 120 days, approximately. The Company has begun to take the steps necessary to collect both the anticipated contractual compensations stipulated therein, as well as the corresponding compensations from the insurance companies.

Pampa Energía is the largest integrated electricity company in Argentina that, through its subsidiaries, participates in the generation, transmission and distribution of electricity.

For further information, contact:

Ricardo Torres – Chief Executive Officer
Mariano Batistella – Strategic Planning and Investors Relations
3302 Ortiz de Ocampo, Building #4
(C1425DSR) Ciudad Autónoma de Buenos Aires, Argentina
Phone: 5411 4809 9500
http://www.pampaenergia.com/ir
investor@pampaenergia.com