Automated Power Exchange names Tom Lewis its new chairman and CEO

HOUSTON, Oct. 13, 2003 — APX, a provider of transaction processing services for the electric power industry, announced that Tom Lewis has joined APX as its new chairman and CEO.

“I am thrilled to be joining APX at such an exciting time for the company,” said Lewis. “APX has experienced tremendous growth during the past few years, becoming one of the nation’s leading independent transaction processing service providers, with a strong, reliable presence in the West, the East, in Texas, and most recently in the Midwest.”

Lewis previously served as chairman and CEO of Campus Pipeline, Inc. where he was actively involved in all significant strategic decisions, playing a central role in the company’s technical development and management. Lewis was the former CEO of Ameritrade Holding Corporation and has also held senior executive positions at American Express and USF&G, where as CIO he transformed the firm into one of the nation’s most technologically advanced insurance companies. During Ronald Reagan’s administration, Lewis served as head of technology for the Executive Office of the President where he was widely heralded for introducing an efficient new technology to the White House, earning the Distinguished Service Award, the highest civilian award bestowed by the Office of the Administration.

“We are very pleased to have recruited Tom to lead APX through its next phase of its growth,” said Ira Ehrenpreis, former APX chairman and current board member. “His impressive background and tremendous experience will provide great leadership and vision to APX as we continue to expand and increase our presence in energy markets across the nation, while continuing to develop new and advanced technologies.”

Lewis earned a bachelor’s degree in administration and a master’s degree in computer science from the University of New Haven and is a member of the Board of Directors of Neovest Holdings, Inc. and ITM Software Corporation.

About APX Inc.:

As an independent transaction processing service provider for wholesale electric power markets, APX processes more than 700 million megawatt hours per year for approximately 200 client companies in North America and Europe. Services include scheduling and settlement, trading platforms and brokerages, generation information, and demand response. A privately held company, APX has offices in California, Texas, Massachusetts, and Norway. More information is available at www.apx.com.

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