Excelergy Named as a Finalist for Platts/BusinessWeek Global Energy Award.

Business/Technology Editors and Energy Writers

LEXINGTON, Mass.--(BUSINESS WIRE)--Sept. 24, 2002

Rapid, successful deployment of Excelergy MarketRunner(TM) for Italian national power exchange earns nomination for Most Innovative Commercial Technology of the Year

Platts and BusinessWeek, two divisions of The McGraw-Hill Companies, announced this week that Excelergy(R) Corporation has been nominated as a finalist for one of its prestigious 2002 Global Energy Awards. Excelergy was nominated for the "Most Innovative Commercial Technology of the Year" for its groundbreaking Excelergy MarketRunner(TM) platform, which has been deployed to run the new Italian national power exchange.

According to Platts, the 2002 Global Energy Award finalists were selected from more than 170 nominations from energy/utility companies throughout the world, the most in the four-year history of the awards. The Most Innovative Commercial Technology award nominations were judged for their market-inspired innovation, commercial availability, technologically proven results, practicality, reliability, and overall commercial success.

According to the award sponsors, the goal of the Commercial Technology award is to "recognize the hardheaded application of new technology in the pursuit of efficiency and increased shareholder value." The panel of judges was drawn from "the energy industry's elite--top corporate executives, leading academics, respected commentators, seasoned analysts, experienced regulators, and knowledgeable editors." The winners will be announced at a gala celebration on November 18, 2002 at the Plaza Hotel in New York City.

Earlier this year, after a global search and evaluation, Rome-based Gestore del Mercato Elettrico (GME), the government-endorsed Italian power exchange operator, selected Excelergy MarketRunner as the operating software to run its new exchange. Excelergy MarketRunner was successfully deployed at GME by June 2002, a span of less than six months. The exchange is now in the final stages of testing, on schedule for October completion.

"When compared against the historical costs and timeframes of other implementations of this size and scope--such as those with ERCOT and PJM here in North America--the consensus estimate is that the on-time and on-budget deployment of MarketRunner is now accelerating more than 1 billion euros of cost-savings for Italian power consumers," said Excelergy president and chief executive officer Bill Mahoney. "MarketRunner was chosen because it was the only platform identified that was capable of delivering the cost, schedule and functionality benefits required by the Italian power exchange. We are honored our product has been recognized for such a prestigious global award."

For the Italian power exchange, Excelergy MarketRunner will create physical markets for power (e.g. day-ahead and spot markets) and ancillary services (e.g. reserve and balancing markets) to facilitate competition and lower energy prices while maintaining a reliable and stable power grid. Specifically, the first-of-its-kind platform will manage the power bidding process among energy generators, distributors, importers, wholesalers and eligible customers, establish the market-clearing price, schedule the delivery of power, and settle market operations.

About Platts

Platts is the world's largest and most authoritative provider of energy information and marketing services, with 14 offices worldwide. Products now range from real-time and Internet-based news and price assessment services, to newsletters, market reports, databases, geospatial tools, magazines, conferences, research and consulting services and energy financial services. Platts offerings cover the oil, natural gas, electricity, nuclear power, coal, petrochemical, and metals markets. Every day, more than $10 billion of trading activity and term contract sales are based on Platts' price assessments. More information is available at www.platts.com and www.globalenergyawards.com.

About Excelergy

Excelergy is a world leader in high performance software platforms that automate six mission-critical business processes--forecasting, trading, scheduling, billing, settlement and customer/partner acquisition and care--in the energy/utility industry and other restructuring markets. Now operational at more than 40 percent of North America's largest energy/utility companies, with a growing major client base in Europe and Asia, Excelergy's highly flexible, scalable software platforms are based on an open, object-oriented, Web-based, native XML technology architecture. Winner of both the Red Herring 100 and UPSIDE Hot 100 awards for the world's top private companies, Excelergy has its North American headquarters in Lexington, Massachusetts, its European headquarters in London, England and its Asia-Pacific operations in Melbourne, Australia. More information is available at www.excelergy.com.