HOUSTON, July 18, 2002 — Reliant Energy Inc. recently announced that Mark M. Jacobs has been appointed executive vice president and chief financial officer of both Reliant Energy and Reliant Resources Inc.
Upon the completion of the spin-off of Reliant Resources from Reliant Energy, Jacobs will resign from the Reliant Energy position. Jacobs is replacing Steve Naeve in the Reliant Energy role. Naeve will continue as vice chairman of Reliant Energy until the completion of the spin-off.
“Putting the right team in place is an important part of our plan to ensure that Reliant successfully executes its strategy and meets the challenges facing our industry. In Mark, I believe we have found a strong addition to our team,” said Steve Letbetter, chairman and CEO of Reliant Resources and Reliant Energy. “With Mark’s experience in the energy and power industry as a managing director of Goldman Sachs & Co. and his long advisory relationship with Reliant, Mark’s insights and expertise will be invaluable to us going forward. I am delighted that he will be joining us.”
Jacobs said, “I am excited to have the opportunity to expand the capacity in which I will be working with Reliant Energy and Reliant Resources. I look forward to addressing the companies’ current challenges and am confident in the companies’ long-term prospects.”
Reporting to Jacobs will be the accounting, finance, risk management, corporate planning and development, and investor relations functions. Jacobs received a bachelor’s degree in business administration from Southern Methodist University and an M.B.A. from Northwestern University. He is married with three children.
Reliant Energy, based in Houston, Texas, is an international energy services and energy delivery company. The company has nearly 31,000 megawatts of power generation in operation in the U.S. and nearly 3,500 megawatts of power generation in Western Europe. Reliant Energy’s retail marketing and distribution operations serve approximately four million electricity and natural gas customers in the U.S. More information on Reliant Energy can be found on its web site at www.reliantenergy.com .