MMC ENERGY INC
			Symbol			MMCE

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MMC Energy, Inc. Announces Closing the Sale of Its Power Generating Operations

2009-09-23 18:15 ET - News Release

NEW YORK, Sept. 23, 2009 (GLOBE NEWSWIRE) -- MMC Energy, Inc. (Nasdaq:MMCE) announced today that it has closed the sale of its Chula Vista and Escondido electric generating facilities and certain other assets for $4,865,500 to affiliates of Wellhead Electric Company, Inc. The sale represents the conclusion of a process to sell substantially all of the Company's remaining operating assets. MMC Energy had previously announced the sale of its two GE LM6000 PC Sprint turbines for $26.65 million to a subsidiary of Pro Energy. That sale is expected to close no later than October 7, 2009.

These asset sales are key steps in the contemplated liquidation plan of the Company which plan was overwhelmingly approved at a shareholders' meeting held on September 14, 2009 seeking such approval.

"While we are disappointed that our original strategy did not succeed, we appreciate the support of the vast majority of our shareholders in the resulting decision to liquidate the Company," noted Michael Hamilton, CEO. "The asset sale follows an extensive review of a range of strategic alternatives for the Company, including our continuing as an independent entity and exploring mergers and acquisitions."

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