June 6, 2002 — Prebon Energy announced recently that it has expanded its Emissions business to include five new members.

Blake Miller, Ryan Davies, Mike Redd, Jurgens Bauer and Tom Holleran join Prebon Energy from O2 Blue, where in addition to ERC and emissions consulting, they were instrumental in the development of the Olympic Cleaner and Greenerâ„¢ program.

This net zero air emissions initiative facilitated the retirement of enough emission reduction credits to offset the emissions from the 2002 Winter Olympic Games.

According to Dave Rutter, CEO of Prebon Energy, “The new group’s ability to identify sources for emission reduction credits (ERCs) and commitment to walk customers through the intricacies of emissions markets makes this team a great addition. Prebon Energy is now positioned to offer one-stop emissions solutions, including OTC credits, such as NOx and SO2 and other emissions products, such as ERCs from our offices in Jersey City, Houston, and Salt Lake City.”

Prebon Energy’s Emissions group focuses on emissions credits and allowance programs throughout the U.S. Covering a broad range of products including ERCs, streams of allowances, inter-pollutant swaps and options, in a variety of markets such as SO2, NOx and RECLAIM, to name a few, Prebon helps clients achieve viable solutions to air quality issues in this rapidly expanding marketplace.

Lee C. Taylor, SVP of Prebon Energy’s Coal and Emissions Group, explains, “In most markets, demand for emissions credits is extremely high. Any company that expands its existing facilities or develops a new facility is required to purchase emissions credits for use as offsets for their new air quality permits. President Bush has also announced plans to drastically reduce emissions of the three worst air pollutants, including SO2 and NOx, over the course of the next 15 years. Prebon is poised to help customers find the best solution for their needs.”

“We are very excited about this move, we are now members of a highly reputable, international organization” said Ryan Davies. “Our move to Prebon Energy will greatly benefit our ability to serve customers as our network, resources, and services will be enhanced and expanded.”

Prebon Energy is a broker of physical and financial energy products, serving the power, natural gas, coal and oil markets. Prebon Energy is part of the Prebon Yamane group of companies, which provides brokerage services for institutions worldwide in the OTC markets, including the markets for foreign exchange, money market instruments, emerging markets products, derivatives, securities and energy products.

The firm and its affiliates comprise more than 1,500 staff located in 26 financial centers worldwide, including close to 200 energy professionals in offices in the New York area, Houston, Amsterdam, London, Singapore, Sydney and Tokyo.