PIC Energy Group Continues Emergence in O&M Field; Awarded Four New O&M Agreements

ATLANTA (Oct. 4, 2002) - The PIC Energy Group (PIC), a leading provider of service solutions to the energy industry, announced today that it has been awarded four Operation and Maintenance agreements. The agreements represent 783 MW of power, increasing PIC’s O&M projects in operation to 4000 MW, further bolstering a diverse international portfolio of facilities under PIC’s care. Details on each agreement:

Wrightsville Power Facility: Agreement to provide personnel and management of a distressed asset consisting of 6 GE LM6000 gas turbines and 1 GE 7EA gas turbine in combined cycle configuration with a capacity of 550 MW.

Embilipitiya Project: 3-year agreement for a base load facility employing 14 Caterpillar 16CM32 engines operating on heavy fuel oil. Heat recovery is used for auxiliary heating. The facility employs 75 people and operates at a capacity of 100 MW in Sri Lanka.

Port of Prince Project: 3 year agreement providing Operations and Maintenance on a Care, Custody, and Control basis for a 30 MW facility utilizing 18 Caterpillar XQ2000 engines operating on liquid fuel in Port of Prince, Haiti.

Aban Power Project: Agreement providing for operations and management oversight for a facility in Chennai, India. Facility utilizes one GE 6FA in combined cycle configuration with a capacity of 103 MW.

The PIC Energy Group, headquartered in Marietta (Atlanta), Georgia, and established in 1988, is a leader in providing global service solutions to the energy industry. The company offers full third party O&M and outage services, turnkey commissioning, startup, and complete staffing solutions for all aspects of project development and execution. From power generation to petrochemical and refining, from concept to execution, PIC provides value-added services with a focus on quality, safety and optimum results. With over 2,500 projects executed worldwide in over 75 countries, PIC offers global service solutions for a wide range of domestic and international projects. PIC serves clients from its corporate office in Atlanta, Georgia, and has offices in Houston, Texas; Zurich, Switzerland; Kuala Lumpur, Malaysia; Buenos Aires, Argentina; Rio de Janeiro, Brazil; Lima, Peru; Caracas, Venezuela; and Mexico City, Mexico.