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SEMPRA ENERGY EUROPE SELECTS SAKONNET TECHNOLOGY'S XENON™ TRADING AND RISK MANAGEMENT SOFTWARE

New York, NY, 1 November 2001 - Sakonnet Technology announced today that Sempra Energy Europe Limited has entered a term services and licensing agreement for XenonÔ,  Sakonnet’s advanced energy trading and risk management system.

“We had a trial use of Xenon and found it fit our needs for a system to view trading risk and opportunities effectively in the UK natural gas markets, said William Winget, Managing Director of Sempra Europe. “We like that the fact it is so flexible. It can expand quickly to cover more users, functions and markets and can be linked to our own analytics. We are also impressed by the expert real-time support Sakonnet gives our traders.”

“We are delighted by Sempra’s decision to adopt Xenon,”  said Thurstan Bannister, CEO at Sakonnet.  “This further demonstrates our software’s immediate usefulness for big financial and physical energy players in Europe.”

CONTACT:
Eric Min
eric.min@sknt.com


About Sakonnet Technology
Sakonnet Technology is the market leader in Software as a Service (SaaS) for energy trading and risk management. Sakonnet's expert international teams provide an unrivalled level of hosting, support, upgrade and consulting services linked to its advanced Xenon® platform. These services along with Xenon's streamlined interfaces and workflow, transform the end-user experience, resulting in higher productivity, stronger risk control and a trading edge. Sakonnet addresses the needs of energy companies, banks and hedge funds trading in power, natural gas, crude oil and related markets and has offices in New York and London.
www.sknt.com

Media Contacts:
Alastair Turner
SPARX Communications
+44 (0)1753 893000
alastair@sparxgroup.co.uk

Sakonnet Technology
New York Office        London Office                 
+1 212 343 3170      +44 (0) 207 960 6043     
www.sknt.com

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