© Sakonnet Technology, 2005.  All Rights Reserved

SAKONNET TECHNOLOGY CONTINUES EUROPEAN EXPANSION

London, July 29 2002 – Sakonnet Technology, the provider of Xenon™ energy trading and risk management software, announced today that to handle its continued growth in Europe it is moving to new offices in central London and adding a new server set in Amsterdam. It also announced that Eric Min, its Chief Operating Officer, is relocating to London.

By the end of August Sakonnet will be operating a new server set in AT&T’s secure data center in central Amsterdam. This will enhance services for European clients by adding further parallel computing power to Sakonnet’s network, radically shortening average data transmission paths via the Internet or private lines, and providing extra fail-over support for both in-house and remote Xenon users.

“The office move brings us closer to the international energy trading community in London and will also be highly convenient for frequent visits and meetings with clients on the Continent and in the Nordic region” commented Thurstan Bannister, Sakonnet’s Chief Executive Officer

“The new data center presence will further improve Xenon’s performance and our back-up services” added Eric Min, Chief Operating Officer. “Choice of how Xenon is deployed, whether in-house or remotely, remains entirely up to the client.  We invest steadily in hardware, software re-optimization and people to ensure equally effective Xenon use either way. The center in Amsterdam is part of that process.”

Sakonnet new UK offices are in Victoria, at 10, Greycoat Place, London SW1P 1SB. The new phone number is +44 (0) 20 7960 6043, and the new fax number is +44 (0) 20 7654 3587.

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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