The New Power Company

The New Power Company, the first national residential and small business
energy service provider in deregulated
markets was launched today with strategic investors and partners including
Enron, IBM and America Online.

H. Eugene Lockhart has been named President and Chief Executive Officer of
the company. He was formerly President
of AT&T Consumer Services and Chief Marketing Officer of AT&T, as well as
President of Bank America's Global Retail
Bank and President and CEO of MasterCard International. Lockhart is joined
by a number of high-level executives from
the telecommunications and financial services sectors as well as several
former Enron executives specializing in energy
commodity pricing, marketing, risk management and government regulatory
affairs.

The former Enron employees include Jim Badum, formerly Managing Director of
Consumer Services at EES, John Henderson,
formerly Vice President of Retail Risk Management for EES, Dave Eichinger,
formerly Vice President of Corporate Development
for Enron Corp., and Kathleen Magruder, formerly Vice President of Government
Affairs for Enron Corp. Lou Pai, Chairman and
CEO for EES will serve as non-executive Chairman of The New Power Company.

Enron will provide The New Power Company with energy commodity pricing, risk
management, and government/
regulatory affairs. Ken Lay is quoted in the news release, "We've studied
the residential and small business market
for several years and believe this is the optimal way to provide value to
these customers. By assisting in setting up
an independent company, Enron is able to leverage its core competencies of
energy and risk management, while
partnering with other industry leaders to give The New Power Company
extraordinary and immediate depth and
capability." Ken will also serve on the Board of Directors.

The New Power Company is scheduled to initially provide service in
Pennsylvania and New Jersey in the second half
of 2000. The company will be headquartered in Greenwich, Connecticut, with
some operations in Houston.

For more information, please log onto their website at
http://www.newpowercompany.com.