Calpine CEO cancels pre-arranged trading plan

SAN JOSE, Calif., Oct. 15, 2002 — Calpine Corp. Monday announced that Chairman and Chief Executive Officer Peter Cartwright has canceled his pre-arranged 10b5-1 structured sales plan.

Cartwright has 565,460 options that expire December 31, 2002. He intends to exercise these options and hold the shares.

Based in San Jose, Calif., Calpine Corporation is a leading independent power company that is dedicated to providing customers with clean, efficient, natural gas-fired power generation. Calpine also is the world’s largest producer of renewable geothermal energy. The company was founded in 1984 and is publicly traded on the New York Stock Exchange under the symbol CPN.

Source: Calpine Corporation

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