SCG to lead North American operations

MEDIA, Pa., March 29, 2001 — Software Consulting Group (SCG), a national software solutions provider, announced that it has been acquired by Soluziona, the Madrid-based professional services arm of Union Fenosa – one of Spain’s largest industrial and services groups.

The acquisition leverages SCG’s strong foothold in the U.S. to market, sell and service Soluziona’s Open Utilities suite of CIS software products throughout North America and to enhance its current Energy and Integrated Document Management (IDM) service offerings. The Open Utilities system includes both utility distribution and customer services applications.

It is installed in more than 110 electricity, water, gas and telephone utilities in 27 countries. The multi-utility application manages customer service for approximately 55 million global customers.

SCG’s Media, Pa. location will serve as the North American headquarters for the energy division of the new company. Soluziona already has offices in Miami for its software development division, in Los Angeles for its Internet operations, and a central coordination office in Chicago.

“The acquisition by Soluziona will provide an opportunity for SCG to strengthen its current client relationships with the financial backing of a $4 billion company and expand our offerings to include one of the finest CIS software product suites in the energy markets today,” comments Bruce Bard, CEO at SCG. “The synergies between the two companies will be capitalized upon immediately, producing an extremely rewarding environment for our employees and ensuring our continued growth well beyond 2001.”

“SCG’s presence and commitment to the energy industry, which began in 1988, will provide the strong platform on which we can now offer Soluziona’s Open Utilities product suite, along with our current service offerings,” continued Bard. “Our IDM practice will benefit by the shared technical and human resources and Soluziona’s commitment to aggressive growth. We will now have the ability to more quickly dominate the markets we serve and be an even more nimble and fast-moving company to respond to our clients’ needs with virtually unlimited resources.”

SCG and Soluziona, under the new integrated company, are planning to be the premier solutions provider in the North American energy marketplace by providing specialized software and professional services backed by one of Europe’s largest energy providers.

“This integration reaffirms our long-term commitment to the North American market,” says Santiago Roura, general manager of Soluziona. “SCG is a company that can integrate perfectly into our corporate culture and will permit us to rapidly expand our operations in the U.S. and Canada.”

“I would like to underline that we firmly support SCG’s management team, which has a proven track record in this business” added Roura.

This acquisition comes after SCG’s most profitable year since its inception in 1988. SCG has been realizing a staggering profitable growth pattern since 1995 and launched its services formally into the national markets in early 2000.

About Soluziona

Soluziona is the professional services division of Union Fenosa, one of Spain’s largest industrial and services groups. Professional services businesses in Soluziona include information technology, software development and marketing, Internet services, telecommunications engineering and services, design, technology, quality and environmental engineering, and strategic management and human resources consulting.

In 2000, Soluziona grew by more than 50 percent, reaching $460 million dollars. Soluziona has a consolidated presence in the international markets, with on-going projects in more than 45 countries spread over four continents. At the end of 2000, more than 6,100 professionals were working for Soluziona.

About Union Fenosa:

Union Fenosa is one of Spain’s leading industrial and services groups, with important stakes in energy, services and technology-driven businesses, both in Spain and globally. Union Fenosa’s annual revenue surpassed more than $4 billion in 2000, up close to 40 percent over 1999 figures.

The company is also pursuing an ambitious international expansion program, supported by its network of subsidiaries in more than 45 countries. At the present time, Union Fenosa has carried out direct investments in 14 countries outside Spain, in utility companies (electricity, water, gas) that manage more than 8,000,000 customers.

Almost 18,000 professionals are now working for the Union Fenosa Group Globally.

About Software Consulting Group (SCG)

SCG was founded in 1988 to provide advanced technical solutions and services to the energy industry, with corporate headquarters in Media, Pa. and a regional office in San Francisco. Rated one of Philadelphia’s fastest growing companies by the Philadelphia Business Journal and Deloitte & Touche, SCG has increased its revenues by 522 percent since 1995.

Additionally, SCG supports the pharmaceutical and financial services industries by effectively designing, selecting and implementing information technology and document management products and processes.