PMEG Announces O&M Services Contract with Barrick Goldstrike Mines, Inc.

ATLANTA (Nov. 22, 2005)  - PIC-Marubeni Energy Group (PMEG) is pleased to announce the agreement between PMEG and Barrick Goldstrike Mines Inc. for Operations and Maintenance of the Western 102 Power Plant outside of Reno, Nevada. The facility is comprised of fourteen Wärtsilä 20V34SG reciprocating engines burning natural gas and having total net output of approximately 115 MW. The facility is one of the largest reciprocating power plants in North America and utilizes Wärtsilä’s latest reciprocating engine technology.

PMEG is very enthusiastic about working with Barrick Goldstrike Mines Inc., recognized as one of the world’s largest gold mining companies. PMEG has successfully worked with the Barrick team to structure the appropriate O&M service offering to match the project’s requirements. “This is an excellent project for our company and is in line with our strategy of supporting inside the fence power generation projects. We are confident that our O&M philosophies, processes and tools will be instrumental in the success of the Western 102 Power Plant and we hope to work with Barrick on other projects in the future” stated Tom Paul, President of PIC-Marubeni Energy Group.

PIC-Marubeni Energy Group is a majority owned subsidiary of The PIC Companies, which provides full third party O&M and has asset management experience on more than 4,500 MW and current contracted experience encompassing 24 facilities worldwide.

The PIC Companies, headquartered in Marietta (Atlanta), Georgia and established in 1988, is a leader in providing global service solutions to the energy industry. In addition to O&M, PIC provides managed outage services, turnkey commissioning, startup, and complete staffing solutions for all aspects of project development and execution. From concept to execution, from petrochemical & refining to power generation, PIC provides value added services with a focus on quality, safety and optimum results. With over 4,500 projects executed worldwide in over 75 countries, PIC offers global service solutions to your domestic and international projects. PIC serves its customers from its corporate office in Atlanta, Georgia as well as Houston, Texas; Zurich, Switzerland; Kuala Lumpur, Malaysia; Buenos Aires, Argentina; Rio de Janeiro, Brazil; Mexico City, Mexico and Beirut, Lebanon.