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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Greg Whalley X-To: Jay Fitzgerald X-cc: X-bcc: X-Folder: \Lawrence_Whalley_Dec2000\Notes Folders\All documents X-Origin: Whalley-L X-FileName: gwhalley.nsf ---------------------- Forwarded by Greg Whalley/HOU/ECT on 03/08/2000 08:08 AM --------------------------- Rahil Jafry 03/07/2000 03:13 PM Sent by: Rahil Jafry To: Louise Kitchen/LON/ECT@ECT, Dave Samuels/LON/ECT@ECT, David Forster/HOU/ECT@ECT, Paul Goddard/LON/ECT@ECT, Awais Omar/LON/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Julie Ferrara/HOU/ECT@ECT, Mario Parra Cardoso/Corp/Enron@Enron, Bob Shults/HOU/ECT@ECT cc: Subject: Williams' Energy Marketing and Trading Unit Acquires Equity Interest In HoustonStreet.com... ---------------------- Forwarded by Rahil Jafry/HOU/ECT on 03/07/2000 03:07 PM --------------------------- Williams' Energy Marketing and Trading Unit Acquires Equity Interest In HoustonStreet.com 03/07/2000 PR Newswire (Copyright © 2000, PR Newswire) TULSA, Okla., March 7 /PRNewswire/ -- Williams Energy Marketing & Trading Co., a unit of Williams (NYSE: WMB), announced today that it is acquiring a minority stake in Houston Street Exchange, a Web-based energy trading exchange. Financial terms of the transaction were not disclosed. Since the launch of HoustonStreet.com in July 1999, Houston Street Exchange has established itself as one of the industry's most dynamic business-to-business exchanges for wholesale power trading. HoustonStreet.com recently announced plans to launch new Web-based platforms for trading crude and refined products at the wholesale level. "Emerging technologies continue to change the way the energy industry operates, and HoustonStreet.com is on the leading edge of the revolution. Internet-based trading has exploded, and we believe that this investment will allow us to play a significant role in the development of new markets and platforms," said Bill Hobbs, president of Williams Energy Marketing & Trading. "The investment in HoustonStreet.com is just one piece of Williams' eBusiness strategy," added Nancy Gustine, director of eBusiness for Williams Energy Marketing & Trading. "By acquiring a stake in this innovator in the electronic-exchange industry, we can capitalize on our marketing strengths while helping them transform the trading industry." "To have one of the leading energy companies in the country invest in our trading platform is a direct validation of our technology and our vision for the future of energy trading" said Frank Getman, president and CEO of Houston Street Exchange. "We look forward to Williams' market strength and support in creating the premier online energy trading platform across multiple commodities." Williams' energy marketing and trading unit buys and sells all types of energy products nationwide including natural gas and gas liquids, crude oil and refined products and electricity. The unit also manages its customers' exposure to volatile energy prices using comprehensive risk management services and creates customized energy financing solutions for producers and end-users. About Houston Street Exchange Designed by traders for traders, Houston Street Exchange represents the first Web portal for the trading of wholesale energy products. HoustonStreet.com provides an online trading engine that allows traders to buy and sell their energy products faster, more efficiently and more easily than they do today. Houston Street Exchange is headquartered in Portsmouth, New Hampshire, with offices in Houston, Texas. Houston Street Exchange is a majority-owned subsidiary of BayCorp Holdings, Ltd. (Amex: MWH). For more information, visit Houston Street at www.houstonstreet.com. About Williams Williams, through its subsidiaries, connects businesses to energy and communications. The company delivers innovative, reliable products and services through its extensive networks of energy-distributing pipelines and high-speed fiber-optic cables, comprehensive energy services, including commodity trading and risk management, and business communications systems, international satellite and fiber-optic video services. Based in Tulsa, Okla., Williams operates about $25 billion in assets. Company 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. Additional information about issues that could lead to material changes in performance is contained in the company's annual report or form 10K, which is filed with the Securities Exchange Commission. /CONTACT: Patty McKissick, Media Relations, 918-573-5738, or email, patty.mckissick@williams.com, or D'Ann Riley, Investor Relations, 918-573-8088, or email, d'ann.riley@williams.com, both of Williams/ 15:06 EST Folder Name: Rahil Jafry Relevance Score on Scale of 100: 82 ______________________________________________________________________ To review or revise your folder, visit http://www.djinteractive.com or contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact your local sales representative.) ______________________________________________________________________ Copyright © 2000 Dow Jones & Company, Inc. All Rights Reserved
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