Black & Veatch announces the creation of its generation portfolio management business practice

Overland Park, Kan., Aug. 13, 2003 — Black & Veatch has announced the creation of its Generation Portfolio Management (GPM) business practice, which provides comprehensive solutions to help clients maximize the benefits of generation asset ownership in the overbuilt U.S. energy market.

The new GPM business practice draws upon the expertise of several Black & Veatch divisions to provide broad and in-depth construction, operations and business systems knowledge and experience, coupled with strong financial management capabilities.

“We are familiar with every aspect of power asset development, operations, trading and markets, and are able to anticipate technical, financial, regulatory, market and operational barriers before they come to light,” said Rodger Smith, president of Black & Veatch’s Enterprise Consulting Division. “In this respect, we are unique from any other company in the market.”

As a global engineering, construction and consulting company, Black & Veatch is capable of providing a range of asset services including design, licensing, regulatory compliance, construction, startup, operations, trading and risk management. This range and depth of expertise gives Black & Veatch a strong competitive advantage as an asset manager when such services are required.

As an asset manager, Black & Veatch enables the asset owner to achieve its strategic goals, whether the strategy is in completing and leveraging stalled projects, expanding the base of generating assets or acquiring and diversifying to gain a unique set of assets that sets the stage for future growth.

“The U.S. power industry is in tremendous turmoil,” said Dick Heenan, Black & Veatch vice president of Energy Consulting Services. “The reduced demand for power, the unprecedented decline in power prices, increases in natural gas prices and a number of credit downgrades by rating agencies are turning the landscape for competitive generation upside down. With our new GPM business practice, Black & Veatch is uniquely positioned to help clients navigate through the complexities presented by these market conditions and develop a sound acquisition or disposition plan.”

Black & Veatch offers sophisticated analyses, integrating business and technical knowledge and experience with planning and financial models. Black & Veatch’s further roles include strategy development, analysis, planning, licensing, environmental services, fuel economics, financial modeling and forecasting.

About Black & Veatch

Black & Veatch Corporation is a global engineering, construction and consulting company specializing in infrastructure development in the fields of energy, water and information. Founded in 1915, Black & Veatch serves its clients with conceptual and preliminary engineering services, engineering design, procurement, construction, financial management, asset management, information technology, environmental, security design and consulting, and management consulting services.

Headquartered in Overland Park, Kan., the employee-owned company has more than 90 offices worldwide. Black & Veatch was ranked 78th on the Forbes “500 Largest Private Companies in the U.S.” listing for 2002. The company’s web address is

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