Triple Point Technology Acquires Power Savant, A Power Risk Management System, From DNL Risk Management Associates, Inc

Business Wire, Nov 2, 1998

WESTPORT, Conn.--(BUSINESS WIRE)--November 2, 1998--

Provides Risk Management Monitoring, Analysis, and

Control Functions to the Electricity and Natural Gas Trading Markets

Triple Point Technology, Inc. (Triple Point) today announced that it has acquired Power Savant, a power risk management system, from DNL Risk Management Associates, Inc. for an undisclosed amount. Power Savant provides risk management monitoring, analysis, and control functions to both the physical and financial sides of the electricity and natural gas trading markets.

It enables utilities, power marketers, integrated energy companies, commodity traders and investment banks to monitor, analyze, and control the entire trading and hedging function. It is particularly well-suited for utilities with load and generation profiles that vary with the time of day, as it has a unique pricing and volume tracking methodology that allows for specific hourly evaluations of risk to movement in price of power and related fuels.

In conjunction with its purchase of Power Savant, Triple Point has hired Neil Levy, the product's principal designer, and a well-known expert in the field of electricity trading and risk management. Levy will be vice president of power trading systems at Triple Point, with responsibility for the design, development, and marketing of its power market products.

"This acquisition is yet another milestone in the implementation of Triple Point's worldwide marketing strategy," said Levy. "As the power markets around the world are deregulated, Power Savant is well positioned to serve the risk management needs of the newly open electricity markets."

Power Savant was developed by DNL for its client, the Tennessee Valley Authority (TVA), the nation's largest power corporation. TVA produces more than 140 billion kilowatt-hours of electricity a year.

"Our commitment to servicing the entire commodity trading industry remains strong," said Peter F. Armstrong, Triple Point principal and director of business development. "The addition of Power Savant to our product offering furthers that commitment by bringing a proven risk management system to wholesale traders of electricity and natural gas."

About Power Savant

Windows-based Power Savant combines a modular design with standardized, customized screens and reports. It provides the following risk management functionality: -0-

--   Position reports, including seasonal, monthly, daily, and hourly
     position snapshots for each delivery location;

--   Mark-to-market pricing, and profit-and-loss;

--   Hedging requirements and reports;

--   Forward curve measurement tools with the ability to price down to
     the hourly level;

--   Counterpart and client credit exposure analysis;

--   Trading limits monitoring;

--   Broker statements and confirmations; and

--   Full support for both physical and financial transactions.

Power Savant runs on the Windows 95, Windows 98 and Windows NT platforms. It has a client/server architecture and supports the Oracle 7 database.

About Triple Point Technology

Triple Point Technology, Inc. (www.tpt.com) provides comprehensive, integrated commodities trading solutions to major oil companies, investment banks, shipping concerns, energy companies, and other global trading organizations. The company leverages technical, business, and trading expertise to help customers reengineer their business processes and develop efficient commodities trading systems.

Founded in 1993, Triple Point is headquartered in Westport, Connecticut (USA) and operates satellite offices in New York City, Houston, Texas (USA), and Singapore. Its clients include such leading worldwide trading organizations as Koch Industries, Morgan Stanley & Co., Galaxy Energy International, Societe Generale Energie, Hess Energy Trading Company (HETCO), MIECO Inc., Petronas, Glencore, Williams, and the Tennessee Valley Authority.

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