Message-ID: <17508930.1075863593893.JavaMail.evans@thyme> Date: Wed, 17 May 2000 04:13:00 -0700 (PDT) From: office.chairman@enron.com To: all.america@enron.com Subject: The New Power Company Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Office of the Chairman X-To: All Enron Employees N America X-cc: X-bcc: X-Folder: \Robert_Badeer_Aug2000\Notes Folders\All documents X-Origin: Badeer-R X-FileName: rbadeer.nsf The New Power Company, the first national residential and small business energy service provider in deregulated markets was launched today with strategic investors and partners including Enron, IBM and America Online. H. Eugene Lockhart has been named President and Chief Executive Officer of the company. He was formerly President of AT&T Consumer Services and Chief Marketing Officer of AT&T, as well as President of Bank America's Global Retail Bank and President and CEO of MasterCard International. Lockhart is joined by a number of high-level executives from the telecommunications and financial services sectors as well as several former Enron executives specializing in energy commodity pricing, marketing, risk management and government regulatory affairs. The former Enron employees include Jim Badum, formerly Managing Director of Consumer Services at EES, John Henderson, formerly Vice President of Retail Risk Management for EES, Dave Eichinger, formerly Vice President of Corporate Development for Enron Corp., and Kathleen Magruder, formerly Vice President of Government Affairs for Enron Corp. Lou Pai, Chairman and CEO for EES will serve as non-executive Chairman of The New Power Company. Enron will provide The New Power Company with energy commodity pricing, risk management, and government/ regulatory affairs. Ken Lay is quoted in the news release, "We've studied the residential and small business market for several years and believe this is the optimal way to provide value to these customers. By assisting in setting up an independent company, Enron is able to leverage its core competencies of energy and risk management, while partnering with other industry leaders to give The New Power Company extraordinary and immediate depth and capability." Ken will also serve on the Board of Directors. The New Power Company is scheduled to initially provide service in Pennsylvania and New Jersey in the second half of 2000. The company will be headquartered in Greenwich, Connecticut, with some operations in Houston. For more information, please log onto their website at http://www.newpowercompany.com.