Electric City and the Wall Street Reporter.

ELK GROVE VILLAGE, Ill.--(BUSINESS WIRE)--Sept. 2, 1999--

Electric City Corp. announces today that the Wall Street Reporter has conducted an interview with Joseph C. Marino, CEO and Chairman of the Board of Electric City Corp. Published in the September 1999 issue of the Wall Street Reporter and can also be found on www.wallstreetreporter.com The following was published:

WSR: You have come up with an innovative idea, which apparently is
going to save millions of dollars. Could you give some background
about this technology that you're bringing to the corporations of
America?

ECCC: The background of the technology is just a voltage regulator. In
this country when people cane out with computers, there were power
surges coming into the computer so people invented something to
protect them, voltage regulator. With lighting, there has never been
anything in this country or the world that delivers any protection
between a transformer with power coming from outside to the inside.
And whatever electricity comes in, it's what you use. With this
technology, we're actually able to control the amps, the volts and
kilowatts that the light fixture uses with minimum lighting loss.

WRS: Is this customized for each fixture?

ECCC: No. This is just one unit that actually mounts into your
existing lighting panel, and the installation usually takes about
three to four hours. We interrupt the customer about 15 minutes. This
works with any type of existing light fixtures that you have. It could
be fluorescent: it cold be high pressure sodium's; it could be metal
halides, and you would get a variety of savings the minimum savings we
get on existing fluorescent has been 20-30 percent. With high-pressure
sodium's we're getting an average between 38-48 percent. With metal
halides we're getting savings from 29 up to 38 percent. This is
without changing anything no wiring, no fixture changing.

WSR: Why does this actually work? Doesn't the lighting fixture draw
the amount of current that it needs naturally, or is it actually
drawing more than it needs?

ECCC: Lighting fixtures were designed to burn within 10 percent plus
or minus whatever the utility company gives you. Anything beyond that
can't cause a problem. Sometimes you do find that a light fixture
burns out, and you have no explanation why it burned out. It could be
that utility company just changed the lines, and you8 get a tremendous
surge. With this machine we actually regulate the amps, volts and
kilowatts. For example, with a 400 watt. Our loss of lighting is
usually 4 to 1. So if you're saving four percent of your light loss.
In some cases we have found that it's as efficient as 10 to 1. You're
saving 10 percent electricity versus one percent lighting loss.

WSR: What you're saying then is with slight reduction of the
electricity that's being delivered to the fixture, there's a lighting
loss that's virtually imperceptible?

ECCC: To the naked eye you cannot see the difference.

WSR: There is a loss, but you see the difference.

ECCC: To the naked eye, no. It all depends on what type of savings you
get. If you're working between 15 to 20 to 30 percent with some
fixtures, you cannot see the difference at all. When you start going
to what we call a bottom threshold full savings, a 50 percent savings,
then you see the light loss.

WSR: Do you work with the clients to establish what that percentage
savings might be so that the lighting level that
they're comfortable with is maintained?

ECCC: Whats wonderful about this machine is it's adjustable to
whatever savings you want. It could be for one percent. It could be
10,11 or 12 percent and it's adjustable to that point. It will
maintain it there at all times.

WSR: Could you give us an idea of what 25 percent energy savings might
mean if a large number of corporations were to
adopt this technology?

ECCC: A large corporation, such as a drug chain in the United States
with 3,000 locations could be saving roughly between $18 to $21
million a year. Customers would not want to see a difference in the
lighting even with these large savings.

WSR: What is the main resistance you are receiving?

ECCC: We really have no resistance at all. We've been doing very, very
well. We are being accepted by major corporations and everybody that
we have worked with is very happy because they're saving tons of
money.

WSR: How long have you been using this technology in the United
States?

ECCC: I wanted to make sure myself, personally. I've been an
electrician for 25 years and this was too good to be true. It's like
finding a cure for cancer, and you want to give the cure to everybody.
I personally tested it in my company for a year. Then we had UL
approvals and ETL apporvals and tons of testing. We did a couple of
job sites. We wanted to make sure it really worked. After those two
tests were done for one year, the tremendous savings were there. Then
we started contacting numerous companies, and everybody who was hooked
up, purchased the machines. It's wonderful.

WSR: The machines are purchased or leased?

ECCC: You could do either. We have companies that lease. There are
companies that like to buy. Actually, most of the big corporations
want to purchase. I mean big names, real big names that will be
annouced. They do not want to lease because the savings are stunning.

WSR: Will this be available to the consumer ultimately?

ECCC: Yes. There's one laying right in front of me on my desk that's
roughly about six inches by six inches that will be designed for homes
and consumers.

WSR: And what will the cost be?

ECCC: The cost will be ranging around $600. So if my utility bill,
electric bill, was $150 a month...

WSR: It would remove 25 percent of your cost, which is about $30 in
round numbers?

ECCC: Correct. All of our machines are really set for a two-year
payback based on kilowatt usage and demand. Now the other thing that
the machines ever figured on the savings, is that it extends the life
of the bulb and the ballast to almost twice the time. So if you figure
all the cost of the savings between maintenance and doubling he life
of the bulbs, your payback on these machines are about seven or eight
months.

We're telling our clients right now that the cost savings on this
machine between the savings on the demand of kilowatts is under two
years, that's all we're telling them. The other thing that's really
wonderful occurs during the air conditioned months. We have just found
out that the ballast temperature goes from 120 degrees down to 90
degrees so your air conditioner is running cooler than your place is
because the heat of the bulbs and ballasts are lower.

WSR: What is the plan to roll this out throughout the country? Are you
going to do it yourself, or are you going to have distributorships, or
are you going to have franchises? What is the marketing strategy going
to be?

ECCC: Our marketing strategy right now is that we're going to try to
sell this technology to the major manufacturing companies all over the
United States. We're already selling in 20 states. They are actually
franchised from our company to each individual that we already have
chosen for their backgrounds.

WSR: What was your own background that allowed you to prove for
yourself that this worked?

ECCC: My background has nothing to do with lighting fixtures at all. I
have been doing switch gear all my life,since I was 17 years old. I
was an electrician, so I knew nothing about light fixtures except you
turn a light on, and you change a bulb if it's bad. And if it doesn't
work, you have to change the ballast. I was very enthusiastic about
the energy crunch in the United States, the shortage of electricity
and the deregulation coming. I was in Europe in 1996 when I heard
about this new and exciting technology. The owners of this company
started in Bologna 17 years ago. Look at what the company has done -
they're all over Europe. They're in Poland, and Israel, so I've seen
that company's market opened up all over Europe. I felt this could be
tremendously successful market and I wanted to bring it to bring it to
the United States.

WSR: Do you have the exclusive rights?

ECCC: Actually, yes. We have the exclusive rights of the whole North
and South America, and South Africa.

WSR: What so you see as the major challenge facing you over the next
year or two?

ECCC: The only major challenge I see in the next year or two is how
fast can I build these machines to send to companies.

WSR: What should potential investors analyze at Electric City before
making a purchasing decision?

ECCC: I'm not a big stock buyer myself, but I think that if you are
purchasing stock in a company, you have to see the individual - the
background of the person running the company, and the product, does it
really work? Yes it really works. After two years of bringing this
into the city of Chicago and testing it, we have not found one
engineer that says it doesn't work. So if you're looking to invest
money into a company that's going to we here in the year 2000 with the
energy crunches, I think we're one of them.