Underlying Profit guidance upgraded to $420m - $430m

AGL Energy Limited (AGL) today announced that it expects to report an Underlying Net Profit After Tax (NPAT) for the year ending 30 June 2010 of between $420 million and $430 million, compared with the previous guidance of $390 million to $420 million.

The revised guidance is based on unaudited figures for eleven months to 31 May 2010, and reflects the continued strong performance of AGL's underlying business.

The 2010 full-year results will be released on 26 August 2010.

About AGL

AGL is one of Australia's leading integrated renewable energy companies and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on 175 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is Australia's largest private owner and operator of renewable energy assets and is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.