Former Enron Execs Start New Company

Several former Enron senior executives have formed a new company, Celeren Corporation, which provides risk management energy services through the sale of energy outsource products as well as independent power generation services.

Celeren focuses its growth efforts on small- to mid-sized businesses and institutions, which provide a significant business growth opportunity, yet are often overlooked by the large energy conglomerates.

Thomas A. Brigger, formerly Mid-Atlantic Regional Manager for Enron Energy Services' energy outsource fulfillment operation, serves as Celeren's President and Chief Executive Officer. Donald S. Parker, P.E., formerly Regional Director, Asset Risk Management, Mid-Atlantic Region for Enron Energy Services, serves as Celeren's Chief Operating Officer and will also serve on Celeren's Board of Directors. Mr. Brigger and Mr. Parker, along with the other members of Celeren's executive team, left Enron in July 2001 to start Celeren.

Celeren offers its customers a reliable source for energy procurement and utilization while presenting those customers with long-term, fixed energy related costs. Through its energy outsource solutions, Celeren provides its customers with a valuable hedge against pricing fluctuations and other industry inconsistencies.

Celeren creates value for the customer by guaranteeing long-term fixed costs rather than the traditional saving guarantees offered by most energy service companies serving this market.

Celeren's range of services consists of a number of bundled energy products, as well as unique, unbundled services for customers with more complex energy and capital requirements. Celeren's outsource offerings will include Commodity procurement and management; capital improvements; financing and operations and maintenance.

Commenting on the launch of the new enterprise, Celeren's President and Chief Executive Officer Thomas A. Brigger, stated, "We created Celeren Corporation as a nimble energy company that will serve the unique risk management and energy utilization challenges faced by today's small- and mid-sized businesses by offering a valuable financial instrument. By focusing on our key service offerings, executing on our aggressive growth plans and leveraging the expertise of our management team, Celeren is well positioned for success in this rapidly changing industry environment. We are excited about the opportunities that lie ahead."