Aquila Selects SunGard for Energy Trading and Risk Management - Panorama to provide cross-commodity, real-time valuation and scheduling

NEW YORK, December 10, 2001– SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), today announced that Aquila, Inc. (NYSE:ILA) has selected Panorama for cross-commodity trading and risk management. Aquila is the third top 10 U.S. energy wholesaler to select Panorama for commodity and financial risk management and power and gas scheduling.

Panorama supports the wide range of commodities traded by Aquila, including power, gas, coal, C02/S02, crude and refined oil, capacity and storage, fixed income, interest rate, foreign exchange and money market instruments.

Aquila is a longtime partner and client of SunGard that had helped to develop and market Panorama’s commodity scheduling component. Aquila selected Panorama for its sophisticated, real-time trade valuation and risk analysis. Aquila will use Panorama for real-time limit checks, portfolio valuation and management, P&L, credit limit management, credit exposure, and Value-at-Risk, including historical and Monte Carlo VaR.

Lori Hartman, project manager at Aquila, said, "We selected Panorama because of the depth and breadth of its functionality, its flexibility and extensibility, and its real-time capability. Panorama's real-time capabilities will enable our traders to make quick, fully-informed decisions. With the great extensibility features of the solution we can build complex, proprietary models for capacity risk management and quickly support our business as it grows. Panorama’s high-performance, scalable valuation processing is particularly critical for supporting our large transaction volumes. Adding Panorama trading and risk support to our existing Panorama scheduling solution will significantly reduce implementation time, allowing us to more quickly realize a return on our investment."

Scott Olle, president of SunGard Trading and Risk Systems' Energy operating unit, said, "Panorama's architectural ability to quickly and simply accommodate new product offerings, its single, consistent data model and its high-performance end-of-day and real-time processing features offer an unrivaled solution for straight-through trading, risk management and scheduling. The resources and support of a global company like SunGard assures our clients that they are contracting with a financially secure, reliable partner. We are pleased that Aquila, one of our longtime client partners, has extended its Panorama implementation to include trading and risk management."

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