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EES Gets Taken Out To the Ballgame

EES Gets Taken Out To the Ballgame

Enron Energy Services Inc. (EES) will be the exclusive provider of electricity and energy and facilities management services for the San Francisco Giants through a 10-year energy commodity agreement and a 15-year management contract for Pacific Bell Park.

Through these two contracts, totaling more than $60 million, EES will provide the electricity to operate Pacific Bell Park, as well as services for heating, ventilation and air conditioning and administration of various subcontracts for maintenance of all mechanical and electrical equipment. EES also will provide the Giants with capital to purchase equipment needed to operate the stadium and, through fixed-price contracts, will provide risk management services related to managing volatility of long-term stadium operating costs.

"These agreements capture our core competency-the integration of commodity, capital and energy and facilities management services-and exemplify the tremendous value we can bring to sports facilities as their full-service energy and facility management provider," said Lou L. Pai, CEO of Enron Energy Services. "This comprehensive relationship with the Giants further confirms our commitment to the California market and is the first to take advantage of our full range of capabilities, including facility management services which we have been building as part of our overall strategy for Enron Energy Services."

Pacific Bell Park is the first privately financed major league ballpark built in more than 30 years. EES will have signage and promotional rights at the new ballpark. Construction of Pacific Bell Park is scheduled to be completed in April 2000. The EES contracts will become effective in early 1999, when the company will support the Giants in commissioning the systems for the stadium and then provide power once the systems are functional.

Joe Fisher, Houston

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