WPE INTERNATIONAL Receives Requisite Consents and Announces Results of the Consent Deadline of the Tender Offer for the Outstanding U.S. Dollar-Denominated 11.25% Notes due 2014 of INDUSTRIAS METALURGICAS PESCARMONA S.A.I.C. Y F.

BUENOS AIRES, Argentina, Sept. 21 /PRNewswire/ -- WPE INTERNATIONAL - WPE International Cooperatief U.A. (the "Company"), announced today the results to date of its previously announced cash tender (the "Tender Offer") and consent and proxy solicitation (the "Consent Solicitation") relating to the outstanding U.S. Dollar–Denominated 11.25% Notes due 2014 of Industrias Metalurgicas Pescarmona S.A.I.C. y F. (the "Notes"), conducted in accordance with the Company's Offer to Purchase and Consent and Proxy Solicitation statement dated September 8, 2010 (the "Offer to Purchase").

As of 5:00 p.m., New York City time, on September 21, 2010 (the "Consent Deadline") the Company had received tenders and consents and proxies in respect of approximately U.S.$184.4 million in aggregate principal amount of the Notes, representing approximately 87.8% in principal amount of the outstanding Notes. Accordingly, the requisite consents required to adopt the proposed amendments to the indenture governing the notes have been received.

The completion of the Tender Offer and Consent Solicitation is subject to the satisfaction or waiver by the Company of a number of conditions, as described in the Offer to Purchase.

UBS Investment Bank and BofA Merrill Lynch are acting as Dealer Managers for the Tender Offer and as Solicitation Agents for the Consent and Proxy Solicitation. Questions about the Tender Offer or the Consent and Proxy Solicitation may be directed to the Liability Management Group at UBS Investment Bank at (203) 719-4210 (call collect), (888) 719-4210 (toll-free), and BofA Merrill Lynch (646) 855-3401 (call collect), (888) 292-0070 (U.S. toll free). D.F. King & Co. Inc., is serving as Information Agent, Deutsche Bank Trust Company Americas is acting as Depositary, Paying Agent, Co-Registrar and Transfer Agent for the Notes, Deutsche Bank S.A. is acting as Registrar, Paying Agent and Transfer Agent and Representative of the Trustee in Argentina for the Notes, Deutsche Bank AG, London Branch is acting as exchange rate agent and paying agent in London and Deutsche Bank Luxembourg S.A. is acting as listing agent, paying agent and transfer agent in Luxembourg. In addition, copies of the Offer to Purchase and Consent and Proxy Solicitation Statement and related materials may be obtained at the office of the Information Agent, located at 48 Wall Street, 22nd Floor, New York, New York 10005.

This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents and proxies with respect to any notes. The Tender Offer and the Consent and Proxy Solicitation are being made solely by the Offer to Purchase and Consent Solicitation Statement dated September 8, 2010.

The Tender Offer does not constitute, and may not be used in connection with, an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation. In any jurisdiction in which the Tender Offer is required to be made by a licensed broker or dealer and in which the dealer manager, or any affiliates thereof, are so licensed, such Tender Offer shall be deemed to have been made by such dealer manager, or such affiliates, on behalf of the Company.

The Company and IMPSA

WPE International Cooperatief U.A. is a wholly-owned indirect subsidiary of IMPSA. IMPSA is one of the world's leading renewable energy companies providing comprehensive integrated hydro and wind solutions in Latin America and Southeast Asia. It designs, manufactures and sells turbines and other power equipment and provide a broad range of services to hydro and wind power businesses, as well as develops, operates and owns wind and hydro power generation projects.

Forward Looking Statements

Statements contained in this press release may contain information that is forwardlooking and reflects management's current view and estimates of future economic circumstances, industry conditions, the Company's and IMPSA's performance, and financial results. Any statements, expectations, capabilities, plans and assumptions contained in this press release that do not describe historical facts, such as statements regarding the declaration or payment of dividends, the direction of future operations, the implementation of principal operating and financing strategies and capital expenditure plans, the factors or trends affecting financial condition, liquidity or results of operations are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. There is no guarantee that these results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

SOURCE Industrias Metalurgicas Pescarmona S.A.I.C. y F.; WPE International Cooperatief U.A.

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