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NUON SELECTS SAKONNET TECHNOLOGY’S XENON™ TRADING AND RISK MANAGEMENT SOFTWARE

London, 19 November 2001- Sakonnet Technology announced today that Amsterdam-based Nuon Energy Trade and Wholesale has entered a service and licensing agreement for Xenon™, Sakonnet’s advanced energy trading and risk management system.

“We will use Xenon alongside our existing systems, in the first instance, for oil, coal and natural gas trading” said David Slater, Risk Development Manager at Nuon in Amsterdam. “We tested Xenon for over a month before committing. We liked its user-friendly deal entry and report modules and the ease and speed of implementation. The technology is well-designed and promotes a controlled trading environment. Overall, Sakonnet’s value propositions – immediate use, appealing software, careful service, low cost – were compelling for us.”

“We are delighted with Nuon’s decision to adopt Xenon,” said Thurstan Bannister, Sakonnet’s Chief Executive Officer. “This further demonstrates its usefulness for trading all kinds of physical energy 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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