NewEnergy and Power Direct Team with New Jersey Business & Industry Association to Create State's Largest Energy Buyers' Pool.

NEWARK, N.J.--(BUSINESS WIRE)--Nov. 19, 1999--

The New Jersey Business & Industry Alliance (NJBIA), the largest state-level employer association in the nation, has selected NewEnergy and Power Direct to create Power New Jersey(TM), the state's largest energy buyers' pool.

Power New Jersey will allow NJBIA members to take full advantage of the benefits available in the state's newly competitive electric market.

NJBIA estimates that its members spend well over $1 billion annually on electricity. Members joining Power New Jersey may be able to achieve savings of up to 20% of the electric generation portion of their bill, depending on the size of the company, amount of electricity usage and geographic location. NewEnergy will serve members whose electric bills exceed $4,000 per month, and Power Direct will serve all smaller accounts from the NJBIA.

"Power New Jersey is a textbook example of the benefits that competition can bring to electric consumers," said Brian Hayduck, Vice President of NewEnergy East. "NewEnergy is pleased that we're able to partner with such a prestigious organization such as the NJBIA, and we look forward to bringing its members the kind of savings and service we're already providing customers in Pennsylvania, New York and California."

Through Power New Jersey, NJBIA members can contract directly with either NewEnergy or Power Direct to purchase electricity. Members have the option of selecting either a short or long-term contract with their supplier. The agreement protects members from hidden charges and guarantees that they will receive the best rates offered by NewEnergy and Power Direct in the New Jersey market.

"Because of NJBIA's huge membership base, Power New Jersey has created a tremendous opportunity to provide significant savings on electric bills," said NJBIA President Joe Gonzales. "This agreement guarantees that our members will receive the most competitive rates offered by NewEnergy and Power Direct."

NewEnergy Inc. (formerly New Energy Ventures) and Power Direct are both AES companies. AES Corp. (NYSE:AES) is a leading global power company that currently owns or has an interest in 105 power facilities totaling more than 31,000 megawatts in the United States, Canada, Australia, Argentina, Brazil, the Dominican Republic, Panama, Mexico, Pakistan, India, Bangladesh, the Netherlands, Hungary, Kazakhstan, China and the United Kingdom.

AES also distributes electricity to nearly 14 million customers. In addition to having assets in excess of $10 billion, the company has more than $5 billion of projects in construction or late stages of development. AES is dedicated to providing electricity worldwide in a socially responsible way.

NewEnergy is America's largest energy service provider. Formed in 1995 to serve customers in every state where a competitive energy market is emerging, this rapidly growing technology-based energy company is active today throughout the United States.

With headquarters in Los Angeles, it has regional offices in Austin, Boston, Chicago, New York, Philadelphia, Phoenix, Tucson, and the San Francisco Bay area. NewEnergy strives to help its customers increase their profitability through integrated, high-value energy solutions. Its services include energy buying for its customers, energy efficiency services, site generation, and low-cost supply of energy-related equipment and supplies.

More information on NewEnergy and its products and services is available at www.newenergy.com.