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Williams will have weather model and research material several minutes before the general market. Universities receive the data before the market and this alliance will get the weather data to Williams as if they were part of the university.
Any thoughts? -----Original Message----- From: Ryan, David Sent: Tuesday, August 28, 2001 11:45 AM To: Presto, Kevin M. Subject: Williams Energy This is size.... Dave -----Original Message----- From: Bennett, Steve Sent: Monday, August 27, 2001 9:23 AM To: Hamilton, Tony; Ryan, David; Pace, Andy; Decook, Todd Subject: I'm sure you've seen this... Williams Signs $10 Million Weather and Climate Research Alliance with the University of Oklahoma August 27, 2001 09:02:00 AM ET Increased Accuracy of Weather Prediction Technology Provides Significant Economic Advantages for Energy Industry Leader TULSA, Okla., Aug. 27 /PRNewswire/ -- A unit of Williams WMB </inc/news/quoteredir.asp?symbol=us:WMB< today announced a $10 million strategic alliance with the University of Oklahoma (OU) to enhance weather and climate research, technology development, and undergraduate and graduate meteorology education. This commercial arrangement, the largest of its kind in the U.S. between a private corporation and a university meteorology program, is a mutually beneficial agreement that allows OU to expand its top-tier meteorology programs while Williams receives exclusive weather analysis and forecasting tools. This will give Williams a globally competitive advantage in energy marketing and trading, while related educational and research activities are expected to produce for Williams the nation's most qualified meteorologists and weather impact decision makers. "This is a partnership between business and higher education where both parties benefit," Keith E. Bailey, Williams chairman, president and CEO, said. "This alliance provides Williams access to weather research and technology that is dramatically superior than traditional government weather services and customized to Williams' unique needs. With weather being the number one driver of volatility in gas and power markets, we expect to see a significant return on our investment." "This history making agreement between Williams and the University of Oklahoma's School of Meteorology, a national leader in its field, is a dramatic demonstration of the power of a private sector-university partnership in the creation of economic productivity and growth, and the expansion of knowledge," said OU President David L. Boren. "I predict that this alliance will become a national model for joining together American international leadership in higher education with private sector creativity and vitality. We are deeply grateful for the confidence placed in this outstanding program at the University by Williams." Highlights of this expansive agreement include: * Unique, advanced weather and climate prediction capabilities tailored by the University of Oklahoma's Weather Programs specifically for Williams' weather-sensitive businesses. * A grant of $8.1 million over five years to fund research in advanced weather analysis and prediction at the Center for Analysis and Prediction of Storms (CAPS). This includes funding for a supercomputer that will be most powerful among all Big-12 institutions. * A grant of $1.6 million over five years to fund regional climate research at the Cooperative Institute for Mesoscale Meteorological Studies. This money will bring to OU the most advanced climate system model in the world, and will fund research scientists as well as graduate and undergraduate students. * Gifts to create the Williams Endowed Chair, an advanced student computer laboratory, funding for three Williams Fellows in the Master of Science in Professional Meteorology Degree in the School of Meteorology and a gift to the Oklahoma Climatological Survey. "We believe the outcome of this partnership will yield a world class suite of weather forecast and analysis products suited for use in the energy marketing and trading industry," says Denise Russell, director of Market Analysis at Williams' energy marketing and trading unit, who, in 1998 began to hire OU meteorology graduates. "We also will have a valuable pipeline for new technological and human resource capabilities with which to maintain these developments." According to Dr. John Snow, dean of the OU College of Geosciences and director of Oklahoma Weather Center programs, the School of Meteorology, has already begun to aggressively recruit some of the nation's top graduate students as part of the new partnership, and will expand this effort in the next several months now that the contracts are signed. "Through this alliance with Williams, The University of Oklahoma has obtained the resources necessary to continue generating new knowledge, defining the global standard for weather technology and developing outstanding graduates, all while bringing new jobs and opportunities to Oklahoma in weather-related fields," says Snow. The Williams/OU alliance was made possible through technology advances in computing resources and the enactment of Oklahoma State Questions 680 and 681, which provide for the establishment of commercial entities that are licensed for the exclusive right to commercialize the technology developed within research and development sections of universities. About Williams WMB </inc/news/quoteredir.asp?symbol=us:WMB< Williams, through its subsidiaries, connects businesses to energy, delivering innovative, reliable products and services. Williams information is available at www.williams.com . Portions of this document may constitute "forward-looking statements" as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company's annual reports filed with the Securities and Exchange Commission. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X17572796 ? 2001 PRNewswire
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