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D-GAS SELECTS SAKONNET TECHNOLOGY’S XENON TRADING AND RISK MANAGEMENT SOFTWARE

London, March 5, 2002 - Sakonnet Technology announced today that D-Gas b.v., part of the E.ON group, has entered a service and licensing agreement for Xenon™, Sakonnet’s energy trading and risk management system.

“Xenon usefully extends our technology base for trading and risk management in the European gas markets,” said Vincent Garay-Spiegel, Risk & Finance Manager at D-Gas. “We wanted a solution to fit our current needs, keep pace with our growing product portfolio and adapt swiftly to market and regulatory changes.  Out of the presently available applications Xenon satisfied that requirement the best.”

“We are looking forward to meeting the long-term needs of D-Gas for deal capture, straight-through processing, scheduling and risk management in their core markets” said Thurstan Bannister, Sakonnet’s Chief Executive Officer.

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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