SolArc Hires Kenneth Kushnir as Vice President of Professional Services; 20-Year Veteran, Former Partner at Accenture Joins SolArc's Executive Team

Business Wire, Feb 24, 2005

HOUSTON -- SolArc Inc., a leading provider of supply and trade management solutions for global energy companies, announced today that it has hired Kenneth Kushnir as vice president of professional services.

Mr. Kushnir has spent almost 20 years in various positions at Accenture, achieving the career level of Partner in Accenture's North American Utilities Client Group. In these positions, he delivered both strategic and service based consulting to the utilities, energy and communications industries, leading engagements for the company in the U.S., Europe and Canada. He was a leader in Accenture's Power Generation Practice and was active in defining the company's global strategies, market offerings and service offerings in deregulating and rapidly changing environments.

"Ken brings a wealth of industry knowledge and managerial experience, both in the U.S. and overseas, that will help SolArc to deliver the highest quality in professional services to our customers," said Brad Anderson, CEO of SolArc. "Ken's long experience working with energy companies has given him insight into their needs in supporting their installations of SolArc RightAngle. We are very pleased to welcome Ken to our team, and we know his contributions will prove to be invaluable for our future growth and success."

About SolArc Inc.

SolArc Inc. is a leading provider of supply and trade management solutions for global energy companies. The flagship product, SolArc RightAngle, integrates deal capture, scheduling, inventory management, pricing, accounting, credit management, position reporting and risk analysis in a single platform solution. SolArc's products work with existing information systems including corporate ERP, credit management and risk management systems to provide customers with a flexible solution that leverages their existing systems' infrastructure. SolArc's products improve cash flow from operations by providing accurate and timely settlement of deal transaction. Customers receive competitive advantages from reduced transaction costs and improved supply decisions based on accurate position reporting and inventory management. For more information on SolArc's products, contact SolArc at http://www.solarc.com.

SolArc is a registered trademark of SolArc Inc. Other names may be trademarks of their respective owners.