Catamount Energy Corp. Announces Board-Level Changes.

Business Editors

RUTLAND, Vt.--(BUSINESS WIRE)--Dec. 6, 2002

Catamount Energy Corp. (Catamount) announced today that David Hedley has been elected to its Board of Directors effective January 1, 2003. He will replace Robert Kelly, who leaves the Board at the end of 2002.

"Bob Kelly's expertise was invaluable as we embarked on our renewable energy strategy. We are very grateful to him for his service," said James Moore, the CEO of Catamount. "Bob is getting directly active in wind energy development through his company, DKR. Because we may work together on some projects, Bob and I agreed that it would be better for him to resign from the Catamount Board to avoid any potential conflict of interest."

"David Hedley has worked with Central Vermont Public Service Corp. (CVPS) in the past, and we are very happy that he has agreed to join the Catamount Board," noted Bob Young, the Chairman of Catamount and the CEO of CVPS. "We have a nice growth path underway at Catamount. As we look forward to options for capturing that value for CVPS shareholders, having an experienced capital markets professional on the Board will be very useful," Young added.

David Hedley is active in numerous non-profit organizations, and he served as a member of President Bush's National Finance Committee. He retired from Donaldson, Lufkin & Jenrette in 1999, where he was a managing director and started the utility investment banking group.

Catamount, the non-regulated subsidiary of CVPS (NYSE: CV), has been in the business of providing clean, cost-competitive electricity in the U.S. and Europe for over 15 years. Catamount is a developer, owner, and operator of wind energy projects.

More information on Catamount is available on the Internet at www.catenergy.com.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect", or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in wind and other projects, acceptance of the Companies products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks. By making these forward-looking statements, the Companies undertake no obligation to update these statements for revision or changes after the date of this release.