EnergyClear Corp. appoints risk officer

HOUSTON, Texas, Aug. 30, 2002 – EnergyClear Corp. (ECC) announced that Holly M. Arney, formerly of Reliant Energy, has been named senior vice president, Risk Management.

Arney served as Commercial Technology Representative at Reliant with responsibility for developing corporate strategy for electronic confirmations, clearing and settlement, and led industry working groups to address standardization issues in these areas.

In addition to clearing and settlement, Arney’s experience includes emerging trade technology, margining reduction, regulatory risk, energy derivatives, mergers and acquisitions and contract negotiation. Prior to joining Reliant, she consulted for Marathon Oil Company in Corporate Strategy and Strategic Management.

Arney has also served as a translator in Germany and in the English Department Library of the University of Freiburg. Ms. Arney holds an MBA from Rice University as well as a bachelor of arts from Austin College.

Commenting on the appointment, Arney stated, “Given the unprecedented liquidity challenges and turmoil which have characterized the energy industry of late, I am excited about working with EnergyClear as it moves to clear and guarantee energy trades and contribute to the creation of a more secure and dynamic marketplace.”

About EnergyClear Corp.

EnergyClear Corporation (http://www.energyclear.com) provides netting and settlement of over-the-counter energy transactions, delivering the benefits of multilateral clearing in an efficient, effective and secure manner.

The corporation is wholly owned by market participants and is a registered Derivatives Clearing Organization with the Commodity Futures Trading Commission under the Commodity Futures Modernization Act of 2000.

Source: EnergyClear Corporation


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