William P. McCarrick, Jr. joins NewEnergy Associates as vice president of sales

ATLANTA, June 10, 2004 — NewEnergy Associates, a Siemens Company and a wholly owned subsidiary of Siemens Westinghouse Power Corporation, is pleased to announce the appointment of William P. McCarrick as Vice President, Sales.

William McCarrick brings with him over 16 years of executive management and business development experience in Energy Trading and Risk Management Systems, Energy Solutions, Gas/Power Energy Services, Performance Contracting, Gas/Power Distributed Generation, Gas/Power Applications, Power Generation, and Power Quality business areas.

“Bill’s thorough understanding of both the demand and supply side of energy markets in the United States, Europe, Latin America and Asia brings a worldwide perspective and a deep regional understanding to our business,” stated Ralph Genesi, CEO of NewEnergy Associates, and General Manager, Siemens Power IT Solutions.

Mr. McCarrick has in the past held senior leadership positions with major controls and energy companies including SunGard Energy Systems were he served as Director of European Sales and most recently as Director of European Sales for Henwood Energy Services Inc.

“NewEnergy has significant business momentum today, and I am enthusiastic about the potential we see in this business worldwide,” said Mr. McCarrick, continuing, “These solutions deliver the cost reduction, revenue improvement, in-market availability, and performance enhancement that the energy industry needs today – from trading & risk to market operations to planning, strategy, financials and consulting for both gas and power. I am extremely pleased to now be part of this important work at NewEnergy, and part of the larger Siemens family of companies.”

About NewEnergy Associates, A Siemens Company:

NewEnergy Associates is a wholly owned subsidiary of Siemens Westinghouse Power Corporation and part of Siemens Power IT Solutions, a business unit of the global Siemens business area Power Generation (PG). Siemens has established itself as the leading provider of true end-to-end energy IT and consulting for decision support and energy operations, from the Plant Operator to the Corporate Officer. NewEnergy Associates has been specializing in the development and support of integrated business applications in excess of 25 years, with clients worldwide in electric and natural gas utilities, energy trading and retailing, power generation and project development, transmission, as well as state and national governments.

In fiscal 2003, which ended September 30, 2003, Siemens PG posted sales amounting to EUR 7 billion and received new orders totaling EUR 7.3 billion. Earnings before interest and taxes (Group Profit) amounted to EUR 1.171 billion. On September 30, 2003, Siemens PG had a work force of approximately 30,300 around the world.

Learn more about NewEnergy Associates – A Siemens Company at http://www.newenergyassoc.com

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