GLOBAL POWER MARKETS GET NEW TRADING SYSTEM

Cinergy Live With Triple Point’s Power XL, Newly Designed System For Challenges Faced In De-Regulated Utility Markets Worldwide

WESTPORT, CT (U.S.), March 4th, 2002 – Triple Point Technology, the preeminent developer of global energy trading systems, today announced its launch of Power XL, a next generation trading system for electricity and natural gas markets worldwide.

"De-regulation of global electricity markets has completely altered the
way power companies must compete," said Triple Point Technology
President, Peter F. Armstrong. "Trading systems of the past do not
support the new paradigm. Power XL, however, was built from the ground
up, to address the ever increasing operational complexities faced by
utility companies in deregulating global markets."

Specifically, Power XL enables utilities and power trading companies to calculate and analyze volumetric risk (the impact on revenue resulting from swings in demand for power), particularly on an hourly basis. A battery of scenario and value-based risk management tools allow utilities to arrive at a more complete picture of their position, or supply obligations and expected generation loads (how much energy a utility must carry at any given time). Power XL combines this granularity of position keeping, with rich trading functionality for hedging and speculative purposes.

"In today’s market, we must have the ability to manage our trading position and associated risk down to the hour," said Cinergy Executive Vice President and CEO of the Energy Merchant Business Unit, Michael J. Cyrus. Cinergy, which went live on Power XL earlier this month, has the 8th largest electricity trading organization in the U.S.. Power XL operates in Cinergy’s power trading offices in Cincinnati, Ohio, and is being utilized by senior management, traders and risk management personnel.

The position management, risk management and valuation tools offered through Power XL surpass older trading systems that treat electricity as a basic, "commoditized" product usually represented as a 16 hour or 8 hour block. The reality of today’s de-regulated markets means that utilities must have a means of ascertaining the megawatts of electricity each of their customers will need and use, down to an hourly granularity (interval). The valuation must take into account, for example, changes in weather, planned and forced outages and peak and off-peak price differentials for a given location where the energy supply is being provided. "When we stress that our systems are scalable, we mean that it handles the enormous volume of data and number crunching necessary to accurately value fluctuating positions, and report meaningful results in real time," said Mr. Armstrong.

"Power XL’s data architecture sets it apart from other power trading systems," said Cinergy Senior Vice President of Portfolio Analysis & Systems, Robert McCarthy. "Our business requires a scalable system so we can process the enormous volumes of data required to accurately value our positions with hourly granularity; other systems cannot accommodate the size or sophistication of our portfolio."

Triple Point Technology provides trading systems for a multitude of commodities. These systems chiefly assist traders in managing their exposure to risk (market, credit/client); capturing critical, voluminously disparate data for real time decision making; and providing a framework for addressing complexities in commerce and finance, such as increased market volatility, shrinking margins and the growth of exotic derivative instruments.

Triple Point’s scalable and high performance trading system solutions offer open access via database independence and XML messaging, and operate in a distributed, n-tier, J2EE compliant environment over a LAN, WAN or via the Internet or ASP. These enterprise-wide systems also interface with a firm’s trading partners, on-line exchanges, suppliers, vendors and clients via an Internet connection. Triple Point Technology’s professional services division partners with clients on the analysis of business processes, customized trading system solutions, installation, implementation and complete project management.

Based in Cincinnati (OH) Cinergy Corp. (NYSE: CIN) has a balanced, integrated portfolio consisting of two core businesses: energy merchant and regulated operations. Its energy merchant business is a Midwest leader in low-cost generation, owning 7,000 megawatts of capacity with a profitable balance of stable, existing customer portfolios, new customer origination, marketing and trading, and industrial-site cogeneration. Cinergy also owns regulated delivery operations in Ohio, Indiana and Kentucky that serve 1.5 million electric customers and about 500,000 gas customers. In addition, its Indiana regulated operations own 6,000 megawatts of generation.

Founded in 1993 and privately held, Triple Point Technology, Inc. is widely recognized by traders, CEOs and CFOs at more than 70 multi-national energy, power and financial services firms, for creating innovative, scalable and integrated mission-critical business processes through its commodity trading systems. The firm’s technology supports the largest volume commodities trading operations around the world. Representative clients include BP, Morgan Stanley, Reliance, Duke Energy, Amerada Hess and Cinergy. Headquartered in Westport,
Connecticut (U.S.A.), Triple Point Technology operates worldwide, with London and Singapore serving as international hubs.

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