Pampa Energia S.A. Announces an Ordinary and Extraordinary Shareholders' Meeting for April 23, 2010 to Consider, Amongst Other Items on the Agenda, the Company's Annual Report and Financial Statements, the Renewal of One-Third of Board Members and the Cancellation of Shares Held as Treasury Stock

BUENOS AIRES, March 8 /PRNewswire-FirstCall/ -- Pampa Energia S.A. (NYSE: PAM) (the "Company") announces that it will hold an Ordinary Shareholders' Meeting on first and second call on April 23, 2010 at 10:00 AM and 11:00 AM, respectively, and an Extraordinary Shareholders' Meeting on first call on April 23, 2010 at 10:00 AM, to be held at the Hotel Emperador, "Puerta del Sol Este" and "Puerta del Sol Oeste" Rooms, located at 420 Libertador Avenue, Autonomous City of Buenos Aires (which is not the Company's registered office), to consider the following agenda:

1. Appointment of two shareholders to approve and sign the minutes.
2. Consideration of the Company's Annual Report, Financial Statements, including Balance Sheets, Statements of Income, Statements of Shareholders' Equity, Statements of Cash Flows, and Notes and Exhibits to the Individual Financial Statements, and Consolidated Financial Statements of the Company and its controlled companies, including Consolidated Balance Sheets, Consolidated Statements of Income, Consolidated Statements of Cash Flows, Notes and Exhibits to the Consolidated Financial Statements, all for the fiscal year ended December 31, 2009, Management's Discussion and Analysis required by the regulations of the Argentine Securities Commission, Additional Information required by Section 68 of the Listing Regulations of the Buenos Aires Stock Exchange, Auditor's Report and Supervisory Committee's Report, all for the fiscal year ended December 31, 2009. Consideration of distribution of advance dividends pursuant to the terms of Section 224 of the Business Companies Law No. 19,550 as amended. Consideration of the Company's Board of Directors' performance as concerns the acquisition of own shares for $84,630,538 during fiscal year 2009.
3. Consideration of allocation of net income.
4. Consideration of Board of Directors' and Supervisory Committee's performance.
5. Consideration of fees payable to the Supervisory Committee and Independent Auditor.
6. Consideration of fees payable to the Board of Directors for the fiscal year ended December 31, 2009 for $5,699,075.40 (total fees). Authorization for the Board of Directors to pay advanced fees to the Directors until the Shareholders' Meeting that deals with the next financial statements.
7. Consideration of resignation tendered by Mr. Alfredo Mac Laughlin to his position as Director of the Company. Renewal of one third of the Board members. Appointment of alternate directors. Appointment of regular and alternate members of the Supervisory Committee.
8. Appointment of Independent Auditor and Alternate Independent Auditor who shall render an opinion on the financial statements for the fiscal year started on January 1, 2010 and determination of fees payable to them.
9. Consideration of allocation of a budgetary item for the operation of the Audit Committee.
10. Reduction of capital stock due to cancellation of up to 211,883,347 common, registered, non-endorsable shares, of $1 par value each and entitled to one vote, currently held as treasury stock (for the consideration of this item of the agenda, the Shareholders' Meeting shall be in session as an Extraordinary Shareholders' Meeting).
11. Grant of authorizations to carry out proceedings and filings necessary to obtain the relevant registrations.

NOTE 1: In order to attend the Meeting, Shareholders shall send the relevant certificates evidencing the balance of their book-entry accounts, issued to such effect by Caja de Valores S.A., to Ortiz de Ocampo 3302, Building #4, Ground Floor, Autonomous City of Buenos Aires, on business days from 10.00 am to 5.00 pm until and including April 19, 2010.  Pursuant to the current regulation, when enrolling to participate at the Meeting, the Shareholders shall report the following data: first and last name or complete corporate name; type and number of identity document in the case of natural persons or registration data in the case of legal entities, indicating the Registry where they are registered with and its jurisdiction, domicile and type of domicile. The same information must be filed by any person who attends the Meeting as representative of the shareholder.

It is reminded to the Shareholders who are foreign companies that they are also required to file the documentation evidencing their enrolment as such in the relevant Public Registry of Commerce, under the terms of Section 123 of the Business Companies Law.

The Shareholders are hereby required to be present at least 15 minutes in advance of the time scheduled for holding the Meeting, in order to submit the proxies and sign the Attendance Book.

NOTE 2: Holders of the Company's ADSs as of the close of business on March 22, 2009, are eligible to vote on the items on the agenda by instructing The Bank of New York Mellon.  The instructions and proxy card and materials will be distributed to eligible holders of the Company's ADSs in the customary manner for a proxy vote.  To be valid, completed instructions must be received by The Bank of New York Mellon by April 20, 2010 at 5:00 PM, NY Time.

    
    
    For further information, please contact:
    Ricardo Torres - Chief Executive Officer
    Mariano Batistella - Investor Relations
    
    3302 Ortiz de Ocampo, Building #4 
    (C1425DSR) Autonomous City of Buenos Aires, Argentina
    Phone: +5411 4809 9500

http://www.pampaenergia.com/ir

[email protected]

SOURCE Pampa Holding S.A.