X0202 4 2006-05-11 0 0000874761 AES CORP AES 0001134555 ODEEN PHILIP A C/O THE AES CORPORATION 4300 WILSON BOULEVARD ARLINGTON VA 22203 1 0 0 0 Common Stock 15000 I by Joint Ownership Units 2006-05-11 4 A 0 5666 17.63 A Common Stock 5666 24009 I Amended and Restated Deferred Compensation Plan for Directors Stock Option Grant (Right to buy) 17.63 2006-05-11 4 A 0 4772 17.63 A 2007-05-11 2016-05-11 Common Stock 4772 18086 D Pursuant to the Amended and Restated Deferred Compensation Plan for Directors of The AES Corporation (the "Company"), Non-employee Directors may elect to defer receipt of compensation otherwise payable to such Director in the form of stock units, the basis of which is determined to be the closing stock price on the day the Non-employee Director is elected to the Board of Directors for the Plan Year in which a stock unit election is made. A Non-employee Director is not eligible to make a withdrawl from his account until such Director ceases to be a Board Member. This distribution will be made as soon as practicable after the Director leaves the Company, and will be made in accordance with the Director's Distribution Election Notification. Philip A. Odeen 2006-05-15