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NewPower Holdings Added to Russell 2000 Index.

Business Editors

PURCHASE, N.Y.--(BUSINESS WIRE)--July 10, 2001

NewPower Holdings, Inc., (NYSE: NPW), parent of The New Power Company(TM), the first national residential and small business energy provider, today announced that it has been included in the Russell 2000(R) Index.

The Russell 2000(R) is comprised of 2,000 companies with a median market cap of $410.3 million. The index is one of 21 that is produced and published by the Frank Russell Company, which provides investment advice, analytical tools and funds to institutional and individual investors in more than 35 countries. The annual reconstitution of Russell's 21 U.S. equity indexes captures the 3,000 largest U.S. stocks as of May 31, ranking them by market capitalization to create the Russell 3000(R) Index. The largest 1,000 companies in the ranking will comprise the Russell 1000(R) Index while the remaining 2,000 companies will comprise the small-cap Russell 2000(R) Index.

"We're pleased to be included in the Russell 2000 index after less than a year as a publicly traded company," said H. Eugene Lockhart, NewPower's President and Chief Executive Officer. "We consider NewPower's growing visibility within the investment community as a testament to the success of our business strategy."

About NewPower Holdings, Inc.

NewPower Holdings, Inc. (NYSE: NPW), through its subsidiary, The New Power Company,, is the first national provider of electricity and natural gas to residential and small commercial customers in the United States. The Company offers consumers in restructured retail energy markets competitive energy prices, pricing choices, improved customer service and other innovative products, services and incentives.

Cautionary Statement

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties and may differ materially from actual future events or results. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our goals will be achieved. Important factors that could cause actual results to differ from estimates or projections contained in the forward-looking statements include our limited operating history; delays or changes in the rules for the restructuring of the electric and natural gas markets; our ability to attract and retain customers; our ability to manage our energy requirements and sell energy at a sufficient margin given the volatility in prices for electricity and natural gas; and our dependence on third parties to provide critical functions to us and to our customers. Readers are referred to the Company's Annual Report on Form 10K for the year ending December 31, 2000 and our S1 on file with the Securities and Exchange Commission for a discussion of factors that could cause actual results to differ materially from these forward-looking statements.

SOURCE: The New Power Company(TM)
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Publication:Business Wire
Date:Jul 10, 2001
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