Calpine Expands Senior Management Team to Support Company's Rapid Expansion in Geothermal Power.

SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 4, 1999--

Calpine Corporation (NYSE:CPN), a leading independent power company based in San Jose, Calif., today announced the expansion of its senior management team to support the company's rapid growth in the dynamic power industry.

Frederick L. Manuel has been named Senior Vice President-Geothermal to lead Calpine's expansion at The Geysers, the world's largest geothermal facility, located in Sonoma and Lake Counties, Calif.

"We are very pleased to welcome Fred to our management team at The Geysers as we move forward to maximize this valuable renewable resource," said Calpine CEO Peter Cartwright. "His leadership will enable Calpine to become a world leader in the production of geothermal energy."

Manuel, age 41, joined Calpine as Senior Vice President-Geothermal and will be responsible for the management and direction of Calpine's newly expanded Geysers geothermal assets. He has 19 years of experience working in the geothermal, oil and gas industries. Most recently he was Senior Vice President-Generation for CalEnergy where he managed CalEnergy's worldwide unregulated generation projects. He lived in Jakarta, Indonesia where he played a major role in CalEnergy's successful Indonesia arbitration process. Prior to living in Jakarta, he was Vice President of CalEnergy's U.S. geothermal operations, which included Coso and the Imperial Valley in California.

Manuel has a bachelor's of engineering degree in mechanical engineering from Vanderbilt University. He, his wife Sonja, and their daughters, Adrienne and Calista, have relocated from Jakarta and are now living in the Santa Rosa area. He grew up in Erwin, Tennessee, where several of his relatives still reside.

The Geysers, located about 90 miles northeast of San Francisco, is the world's largest producing geothermal resource. It has been in operation for 39 years, and Calpine has been active there since 1987. The company's geothermal staff has more than 20 years of power plant and resource experience at The Geysers.

Calpine is the largest geothermal power generator in the world. It owns and operates 19 power plants at The Geysers fueled by geothermal steam from over 300 wells, which together generate about 880 megawatts of electricity. At The Geysers, electricity is produced by tapping underground steam that is delivered directly to turbines that generate enough electricity to meet the energy needs of about 880,000 people.

Calpine is a national power company dedicated to providing customers with reliable, competitively priced electricity and thermal energy. Calpine currently has approximately 9,800 megawatts of capacity in operation, pending acquisition, under construction or in announced development in 14 states -- enough energy to power nearly ten million households. The company was founded in 1984 and is publicly traded on the New York Stock Exchange under the symbol CPN. To learn more about Calpine, visit its website at www.calpine.com.