$500-million USAID contract to be shared with five other firms

SAN FRANCISCO, Oct. 23, 2003 -- Nexant, Inc., a provider of technology solutions and consulting services to the global energy industry, announced that it has been awarded a key contract under the second phase of the U.S. Agency for International Development's (USAID's) $500-million energy indefinite quantity contract (IQC) program.

Nexant is one of three large firms and two small disadvantaged firms to be selected for the IQC program, which provides energy sector technical and advisory assistance to promote economic growth and reduce long-term threats to the global environment. Nexant will provide short- and long-term advisory services and technical assistance in the areas of energy sector reform, utility management, energy efficiency, renewable energy, and technology transfer.

The primary goal of the IQC program is to promote economic growth and reduce long-term threats to the global environment through the more efficient generation, transmission, distribution, and use of energy in selected countries. Under the first IQC program, Nexant provided services to over 40 countries and currently has several projects underway in Egypt, India, Eastern Europe, West Africa, and Southern Africa.

"We have assembled a first-class team of experts to support the IQC," said Nexant president and CEO Basem Sarandah. "We are delighted to have an impressive array of team members on board for this important global initiative. Our team includes NGOs, national labs, and private sector firms that have the breadth, depth, and experience to assist USAID in effectively implementing and leveraging the program worldwide." Bearingpoint, Carana Corporation, International Institute for Education, Pierce Atwood, and SAIC are among the organizations that will participate in the Nexant-led effort.

"Nexant welcomes this opportunity to continue assisting USAID with the implementation of energy programs that spur economic growth and competitiveness," said Matt Addison, Nexant's senior vice president and director of international programs. "Together, we and USAID have been at the forefront of developing and implementing innovative energy programs in a number of countries. This award clearly demonstrates Nexant's continued superior performance as well as its ability to deliver sustained, quality services in virtually any region of the world."

ABOUT NEXANT

Nexant's products and services help clients solve critical strategic and operational challenges in several key areas: retail and wholesale power markets; energy trading; enterprise risk management and decision support; energy delivery and management; advanced energy technology; and petroleum and chemicals. The company is headquartered in San Francisco, CA.