Centrica Energy Deploys Endur for Energy Trading and Risk Management

New York, NY - 29 April 2008

Centrica Energy (CE), the division responsible for managing all upstream assets within Centrica PLC, the FTSE 100 energy company, has implemented Endur, OpenLink's market- leading energy trading and risk management (ETRM) system in a delivery partnership with The Structure Group. CE will use Endur to manage traditional front, middle and back-office functions for complex power and gas contracts, as well as positions in coal, emissions, oil and weather products across its integrated energy operations in the UK and Europe.

Endur is OpenLink's award-winning front, middle and back-office solution for trading, risk management and operations for the energy sector. In a recent software survey by 'Energy Risk' magazine, OpenLink's Endur was awarded first place in 13 out of 20 categories by industry users including 'Integrated Trading and Risk Management', 'Trade Execution', 'Portfolio Management', 'Modeling', 'Risk Metrics' and 'Physical and Financial Integration.'

Endur provides a mission-critical platform for a wider program to deliver systems, process and organizational change that will transform CE's business and deliver £145m of business benefits over five years. CE expects increased profits from Endur's support for trading in new markets and for scaling up its current trading activities in markets not adequately supported by its legacy systems, with traders receiving faster and more accurate decision support due to Endur's enhanced position and risk reporting. CE will benefit from efficiencies due to increased automation in processing and the adoption of common processes and savings will also result from reduced audit fees as Endur eliminates costly manual reconciliation tasks.

CE has deployed Endur's Connex XML based integration framework to provide an interface for trade confirmations to European Federation of Energy Traders (EFET) eCMS members that will enhance CE's straight-through-processing (STP) capabilities and system enforced business controls, reducing operational and financial risks.

OpenLink partnered with The Structure Group (Structure) for the implementation and the team leveraged industry-leading domain and systems delivery expertise from the two companies with great success. Structure has been engaged by CE as their strategic delivery partner for "Atlas", CE's business transformation program across a number of interrelated projects covering the entire wholesale energy value chain. The three companies established an effective tripartite "relationship of equals" to ensure the particular strengths of each were exploited to their maximum potential in the delivery of the solution.

Constantine Vaitsas, Atlas Transformation Director of Centrica Energy noted, "The Endur system enables us to improve efficiencies through adoption of common processes and increased automation, reducing our costs and improving overall management of our business through enhanced data consistency. Using Endur, our traders will see enhanced position and risk reporting, providing them with quicker and more accurate decision support. OpenLink have created an excellent tool for our business and we are starting to realize substantial benefits across our operations."

Mohamed Mansour, MD of The Structure Group in Europe added: "This delivery has been a great success for all involved. Delivering business benefits on a project like this is not dependent solely on a willing client, or a great system, or a strong systems integrator; you need all three, and that is what we had. CE have been a terrific client from day one - recognizing the priorities and being clear in their requirements; OpenLink has delivered a world-class system, which validated CE's decision to select them; and Structure brought market-leading experience and methodology for implementing energy trading and risk management systems."

Kevin Hesselbirg, CEO of OpenLink remarked, "We are pleased to have delivered Centrica Energy quantifiable gains in efficiencies and cost savings while reducing operational risk and augmenting CE's trading capabilities in new markets. OpenLink's implementation partnership with the Structure Group has been a definitive success and we look forward to a lasting and mutually beneficial relationship between our respective organizations going forward."

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