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London, May 8 2002 – Sakonnet Technology announced today that is:energy, the information technology affiliate of Munich-based E.ON Energie, has entered a term services and licensing agreement for Xenon™, Sakonnet’s energy trading and risk management system.

Xenon will first be used by E.ON Sales & Trading GmbH for trading and managing risk in the European power markets, with is:energy providing primary support. It will cover financial and physical deal capture, position and risk reporting, including credit and Value at Risk (“VaR”), and straight-through trade processing, from confirmations to scheduling.  Real-time electronic links will be made to other E.ON Sales & Trading applications and the European power exchanges.

“We look forward to helping E.ON Sales & Trading maximize its productivity on the Xenon platform,” said Jörg Zunft, Chief Executive Officer of is:energy.

“E.ON Sales & Trading requires a robust and long-lasting technology base,” said Thurstan Bannister, Sakonnet’s Chief Executive Officer. “Xenon must quickly deal with new products, market rules and risk measures. Support has to be real-time and round-the-clock. We are immensely excited about linking up with is:energy on these tasks to serve users at E.ON Sales & Trading really well.”

Eric Min

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.

Media Contacts:
Alastair Turner
SPARX Communications
+44 (0)1753 893000

Sakonnet Technology
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+1 212 343 3170      +44 (0) 207 960 6043     

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