Cinergy appoints Bennett Gaines as vice president and chief technology officer

CINCINNATI, Ohio, Dec. 13, 2002 — Cinergy Corp. announced Friday the appointment of Bennett L. Gaines as vice president and chief technology officer with responsibility for the delivery of information technology services to the company, effective January 13, 2003.

“Bennett Gaines brings strong IT leadership and delivery skills to Cinergy, as well as work background that demonstrates his ability to thrive in an environment of change,” said Fred Newton, executive vice president and chief administrative officer of Cinergy. “He has extensive experience with leading technology companies that will help us leverage our IT capabilities, assets and resources and an understanding of the U.S. energy industry.”

Gaines is currently managing director, business services, at Powergen plc and is responsible for the strategy and delivery of IT services and other shared services for Powergen’s operations in the United Kingdom. He was responsible for the establishment of a shared services center which handles all transactional IT activities for the company.

His prior employment experience includes EDS Corporation, where he was responsible for strategic sourcing and supplier relationships, and IBM Corporation, where he worked for 13 years in operations. He has also worked at McKesson Corporation, Hamilton-Hallmark Corporation and LG&E Energy.

Gaines holds a master of arts degree in business administration from the University of Phoenix and bachelor of arts degree in socio-economics from Baldwin-Wallace College.

Cinergy Corp. has a portfolio consisting of two core businesses: regulated operations and energy merchant. Cinergy owns regulated delivery operations in Ohio, Indiana, and Kentucky that serve 1.5 million electric customers and about 500,000 gas customers. In addition, its Indiana regulated operations own 6,000 megawatts of generation. Cinergy’s energy merchant business is a Midwest provider of low-cost generation owning 7,000 megawatts of capacity with a profitable balance of stable existing customer portfolios, new customer origination, marketing and trading, and industrial-site cogeneration.

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