X0202 4 2004-04-28 0 0000874761 AES CORPORATION AES 0000903456 SANT ROGER W 1001 N. 19TH STREET SUITE 2000 ARLINGTON VA 22209 1 0 0 0 Director Deferred Units 2004-04-28 4 A 0 18636.0000 9.5800 A common stock 18636.0000 30512.0000 I director deferred units 1-for-1 Pursuant to the Amended and Restated Deferred Compensation Plan for Directors of The AES Corporation (the "Company"), a non-employee director may defer receipt of compensation otherwise payable to such director by electing to receive a number of deferred units equal to the number yielded by dividing such compensation by the closing price of the Company's common stock on the day that the director is elected to the Company's board for the term for which such election is made. The relevant term commenced on April 28, 2004 and continues through April 27, 2005. A non-employee director may not exercise his/her director deferred units until such director ceases to be a director of the Company. Such exercise will be made in accordance with the director's distribution election notification. Joshua C. LaGrange Attorney-in-fact for Roger W. Sant 2004-04-30