Itron spins off new software company

SPOKANE, Wash., Nov. 8, 2004 — Itron Inc. announced it has granted exclusive licenses of its transmission and substation design software products to a new Spokane-based firm called Pondera Engineers, LLC. The agreement includes the sale and support of well-known design tools such as TL-Proà¢â€ž-, TLCADDà¢â€ž- and others.

On October 7, 2004, Itron entered into a Definitive Agreement with Pondera Engineers, L.L.C. The agreement grants exclusive licenses of Itron’s transmission and substation product technologies to Pondera. The agreement also includes the transfer of certain assets associated with the granting of the licenses. Pondera is an independent, limited-liability corporation formed by former LineSoft/Itron engineers and software developers to provide services and software products specifically to the electric power transmission and substation segments of the energy industry.

In August, Itron announced that it would exit the transmission and substation design markets. However, Itron has no intention to abandon its transmission and substation customers. By entering into the agreement with Pondera, Itron has enabled its design software products to be sold, supported, and further developed by the same individuals who previously served those customers under the Itron brand. Itron’s transmission design customers have expressed their satisfaction with both the products and support through the transition.

Itron took careful steps to ensure that the transmission and substation customers will continue to have the products and support that they need to design and construct their power grid infrastructure, said LeRoy Nosbaum, Itron’s chairman and CEO. Itron has contributed resources and support to ensure that Pondera will start out on a sound financial footing.

“By supplying Pondera with the support and resources that a startup company requires, Itron has successfully enabled a new energy technology company to emerge that will continue to provide our customers with advanced tools and technology,” Nosbaum said. “We wish Pondera every success in the future.”

About Itron [ www.itron.com ]

Itron is a leading technology provider and critical source of knowledge to the global energy and water industries. More than 3,000 utilities worldwide rely on Itron technology to provide the knowledge they require to optimize the delivery and use of energy and water. Itron creates value for its clients by providing industry-leading solutions for electricity metering; meter data collection; energy information management; demand response; load forecasting, analysis and consulting services; distribution system design and optimization; web-based workforce automation; and enterprise and residential energy management.

About Pondera Engineers, LLC

Pondera is an independent, limited liability corporation formed by former LineSoft/Itron Engineers and Programmers to provide services and software products to the electric power transmission and substation industry.

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