Canadian Property Manager to Reduce Costs by $361,000 Annually with Energy Efficiency Improvements by Vestar, Inc.

Business Editors

CINCINNATI--(BUSINESS WIRE)--Oct. 9, 2003

H&R Property Management Ltd. has contracted with Vestar, Inc., an affiliate of Cinergy Corp. (NYSE:CIN) to make energy efficiency improvements at 23 apartment buildings in Toronto. The project is expected to save the company more than $361,000 annually in energy costs.

The $1.3 million undertaking is a collaboration between Mississauga-based Optimira Controls Inc. and Vestar, Ltd.; subsidiaries of Vestar, Inc., dedicated to providing energy efficiency solutions through the appropriate application of technology. The expansion and upgrade of existing energy control panels as well as the installation of software intended to monitor energy usage are the major components of the plan.

Through the innovation of the exclusive CheckPoint software, H&R will not only be equipped to evaluate its facility's energy use, but also be able to identify areas where conservation measures will have the most impact.

"H&R Property management has always sought to maintain high-quality, efficient buildings," explained H&R Property management Ltd. General Manager Stan Cappe. "Through the implementation of these solutions, we hope to not only reduce the amount of energy consumption, but also make our tenants more comfortable in their living environment."

The project is slated to get underway this month, with completion set for the end of December.

"We are excited about the opportunity to assist H&R," said Optimira Controls President Jeffrey Volkers. "We have been in the business of providing similar solutions for numerous companies throughout Canada and the United States and we hope that H&R will enjoy similar success in their energy savings initiative."

Optimira is a Building Automation Direct Digital Controls company with years of experience in the areas of facility controls design, engineering, installation and project management services. As a subsidiary of Vestar, Ltd., Optimira provides services to educational, government, public, commercial, institutional, healthcare and industrial clients throughout Ontario and the Northern United States.

Vestar, Inc. is an energy service company specializing in facility and infrastructure solutions and the appropriate application of energy-related technology. Vestar works to understand customer goals and apply them to develop and deliver facility infrastructure solutions that conserve resources and improve building performance. Vestar is an affiliate of Cinergy Corp., one of the leading diversified energy companies in the U.S.