PMEG Awarded Six-Year O&M Contract in Peru

ATLANTA (Aug. 7, 2007) – PIC-Marubeni Energy Group (PMEG), through its Peruvian subsidiary, PIC del Peru SAC, is pleased to announce it has entered into a six-year O&M contract, to include start-up and commissioning, for Peruana de Energia S.A’s (“Perenesa”) La Virgen Hydro Power Plant in Peru. The facility will consist of two 32-MW Francis turbines (64 MW total).

“We are committed to continuing our expansion in Latin America and are especially pleased for the opportunity to work with Perenesa on their third Hydro power plant in Peru. We will serve Perenesa in Peru, as we have served Termoselva there for more than five years, with the highest standards of quality, reliability and availability of service for the Peruvian market” said Tom Paul, President of PMEG.

Perenesa is an international public company (www.perenesa.com.pe) and currently owns the Yanango and Chimay hydro power plants. Perenesa is planning to invest $63.06 million US dollars in the construction of the La Virgen facility.

PMEG, a jointly owned subsidiary of The PIC Companies and Marubeni Corporation, provides full third-party O&M services for power generation facilities worldwide. PMEG’s offerings range from simple O&M staffing programs to full care, custody and control with management of major maintenance activities. PMEG’s experience includes more than 13,500 MW of contracted O&M services in nine countries. PMEG serves the Latin American market from its corporate office in Atlanta, Georgia and its regional offices in Peru and Colombia.

The PIC Companies, headquartered in Marietta (Atlanta), Georgia and established in 1988, is a leader in providing global service solutions to the energy industry. Offering full scope turbine and boiler outage services, balance of plant mechanical services, equipment commissioning, integrated plant start-up, and complete staffing solutions for all aspects of project development and execution.

Marubeni Corporation is a publicly listed company headquartered in Tokyo, Japan with over $41 billion in assets and approximately $4.6 billion in gross profit (2006). The company was founded in 1858 and currently has 124 offices in 74 different countries around the world.