EUA Cogenex Announces New Performance Contracts Nationwide

Business Wire, August 18, 1998

LOWELL, Mass.--(BUSINESS WIRE)--Aug. 18, 1998--EUA Cogenex Corp., a wholly-owned subsidiary of Eastern Utilities Associates (NYSE:EUA), signed contracts for new energy conservation projects at Syracuse University in Syracuse, N.Y., Valley View Nursing Home in Altoona, Pa., Thiel College in Greenville, Pa., and Central Texas College in Killeen, Texas.

EUA Cogenex began construction on a series of projects involving more than $1.4 million in energy conservation and maintenance measures under an existing performance contract with Syracuse University. These measures will improve comfort and control in gymnasiums and academic buildings across campus. As part of a comprehensive approach, EUA Cogenex continues to identify, propose and build operation and maintenance measures, as well as expand the campus energy management system (EMS) in each building.

Valley View Nursing Home in Blair County, Pa., signed a $2.1 million contract for energy services. The regional facility is licensed for 244 beds and has recently added a new wing. The contract includes the installation and upgrade of the heating, ventilating and air conditioning (HVAC) systems; installation of a centralized direct digital EMS to control the new HVAC systems; the elimination of the existing central boiler plant with installations of efficient water source heat pumps; and replacement or retrofit of the nursing home's lighting systems with high-efficiency electronic ballast and T-8 lamp technology. The project will be paid for through a combination of guaranteed energy and operational savings that total nearly $2.2 million dollars over 10 years.

Under a contract with Thiel College in Greenville, Pa., EUA Cogenex will install comprehensive lighting, an EMS, and upgraded direct digital controls campus-wide. This unique project is structured so that the college will also be able to replace three boilers, including one that was cracked and leaking, by leveraging the savings associated with the other energy conservation measures.

Central Texas College signed a $1.5 million contract with EUA Cogenex for its multi-building campus in Killeen, Texas. The scope of work includes upgrading heating and hot water piping insulation, building ventilation systems, the campus-wide energy management system and lighting. EUA Cogenex will also convert the primary/secondary chilled water pumping system to variable flow control. Central Texas College is financing 100 percent of the cost through guaranteed energy and operational savings over 10 years.

Headquartered in Lowell, Mass., EUA Cogenex is a growing national performance contracting company that invests its financial resources and engineering expertise to implement facility improvements and reduce operating costs for select institutions and businesses. EUA Cogenex satisfies financial and operational needs with technical solutions so that clients can focus on their core business. Information about EUA Cogenex is available on the World Wide Web at http://www.cogenex.com.

CONTACT: EUA Cogenex Corp.

Edward T. Liston, 978/441-0090