GE Harris and OM Technology Align to Offer Total Solutions For Deregulated Electric Utility Operations

GE Harris and OM Technology Align to Offer Total Solutions For Deregulated Electric Utility Operations Melbourne, FL - October 15, 1998 - GE Harris Energy Control Systems, LLC (GE Harris) and OM Technology Energy Systems (OM Technology), announce the formation of a global strategic alliance to address the information technology demands of system operators, marketers, and participants dictated by the rapidly-emerging deregulated energy market. The global reach and commitment to products and services of both companies are now aligned to provide the world energy market with the first complete range of systems and services for enhanced operations, risk management, energy trading, and power exchange. GE Harris is a global leader in innovative real-time, mission-critical, Information Technology solutions for control centers that automate the operations of Generation, Transmission and Distribution assets. OM Technology is a global leader in technology for financial and energy markets. GE Harris pioneered advanced, open-architecture Energy Management Systems and has deployed over 50 such systems worldwide. OM Technology has pioneered electronic electricity trading exchange systems through its significant role in both the definition and development of the Nordic Power Exchange - the world's first such exchange, as well as the development and deployment of the California Power Exchange - a defining system for the U. S. deregulation model. "Both OM Technology and GE Harris believe that as a result of the restructuring of the energy industry, utility customers are demanding total solutions, from fuel source to consumer, that require the seamless combination of systems, services and considerable technical skills possessed by our companies. A collaborative and strategic alliance of this magnitude will lead to the creation of products and services which will be viewed by the market as uniquely suited to meet their evolving needs," according to Steve Bolze, President of GE Harris Energy Control Systems. "GE Harris and OM Technology have matching competence profiles," explains Knut H.H. Johansen, President of OM Technology Energy Systems. "Together, we can provide turn key energy solutions that will link our customers to the future deregulated energy markets. Clearly our customers will benefit from our joint technology, resources, services, and proven experience." The strategic significance of this alliance is the immediate ability to provide the global utility market with a field-proven, total-solution offering, Integrated Energy Trading Solutions, (IETS). IETS starts with the integration of GE Harris' world class XA/21@ Energy Management Systems with OM Technology's leading edge, advanced software systems for energy marketplaces, energy trading, risk management and settlement. The advanced, open- architecture of GE Harris' XA/21, and the component-based architecture of OM Technology's systems facilitates the rapid integration of current and future product offerings. The modular structure of the software enables participants to tailor the software to their specific needs and be able to communicate with the System Operator and the Power Exchange. Similarly, the System Operator will have specific software systems for its operational needs with efficient communications to the participants, and the Power Exchange will be able to customise their system to meet local market conditions. IETS satisfies the growing global demand of energy utilities and market participants for total systems solutions to mitigate risks, increase return on investments, increase productivity and succeed in today's competitive market. This integrated solution will contribute to maintain the reliability in the network and maximise the profit of the participants. The GE Harris / OM Technology strategic alliance includes the joint marketing and integration of existing products, as well as the collaborative development of new products to support electric utilities in improving the effectiveness of their energy trading and power delivery operations. OM Technology Energy Systems, a subsidiary of the OM Group, was formed earlier this year through the merger of the Norwegian company Hand-El and the Swedish company OM Technology. The OM Group is dedicated to producing outstanding products and services in the field of transaction technology. The products and services increase the efficiency of financial and energy markets around the world. This is done through both developing technology for financial and energy markets, and through operating the market. GE Harris Energy Control Systems, LLC, a joint venture of GE Power Systems and the Electronic Systems Sector of Harris Corporation, is a leading provider of innovative, real-time, information technology solutions that meet the evolving needs of the energy industry for automation, control and monitoring of critical operations. GE Harris is headquartered in Melbourne, Florida, USA; with operations in Calgary, Alberta, Canada; Livingston, Scotland, UK and Melbourne, Florida, USA. International sales offices are located in Winnersh, England; Perth, Australia and Hong Kong. For additional information please visit: GE Harris Energy Control Systems at www.geharris-ecs.com OM Technology Systems at www.omgroup.com Or contact directly: Edward Mushill Gustaf Sahlman GE Harris Energy Control Systems OM Manager, Marketing Communications VP Corporate Communications 1-888-GEHECS1 (North America) +46 8 405 66 12 +1 407.242.4329 (outside North America) (981015eng.doc)