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London, 11th July 2005 - Sakonnet Technology, the leading provider of subscription-based energy trading and risk management software, is deepening its presence in Europe and has appointed Julian Eyre as Director of Sales for the region. Julian joins Sakonnet from SunGard Energy Systems where he was responsible for European business development and sales.

Julian brings to Sakonnet considerable experience of commodity markets trading and technology sales. Prior to Sungard, he served as European sales manager for Internet-based products at Banc One Brokerage International Corporation, and before that as business development manager for commodities at Reuters UK. For six years after graduation he acted in trading and support roles at Winchester Commodities Group.

Thurstan Bannister, CEO, Sakonnet said: "Julian has an excellent understanding of client needs in the European energy trading sector and of crafting and delivering overall software and service solutions to meet them. Julian will play a key role in expanding our European client base."

Julian firmly believes that Sakonnet Technology and its Xenon® application deliver unique benefits that include: a philosophy of dedicated client service; a future-proof enterprise Java platform; deep expertise in remote hosting; and easy integration with other client applications.
"The European energy sector is plagued with legacy systems, operational risk, long implementations and high systems and solution costs," Julian said. "The Sakonnet model enables us to meet these issues directly by offering clients' choices for outsourcing, ease of upgrade, responsive support and enhancements all under a cost-effective subscription-based licensing model.

"Sakonnet has grown significantly in the past twelve months from a strong financial and operating base. I am delighted to be joining such a professional and forward-thinking team.

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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