O&M, Plant Optimization

GE Power Systems acquires balance of Praxis Engineers

ATLANTA, Ga., Aug. 16, 2001 — GE Power Systems announced today that it will fully acquire Praxis Engineers Inc., a market leader in coal-fired plant optimization software solutions.

GE Power Systems purchased 40 percent of Praxis in 1997 and will now have full ownership of the company. Praxis is located in Milpitas, California. Financial terms of the deal were not disclosed.

With the acquisition of Praxis Engineers Inc., GE Power Systems continues to invest in technology that meets the growing needs of the power generation customer base. Praxis has a comprehensive suite of products including Coalogic™, the only technology that enables power plant operators to dynamically select coal burn quality to change operating and power-economic conditions. Coal-fired power plant utility customers utilize Praxis’ software to increase plant efficiency and decrease fuel-related downtime.

“The acquisition of Praxis will expand GE’s capability for coal-fired plant technology software solutions,” said John Rice, president and CEO of GE Power Systems. “Praxis’ software products complement existing GE product offerings providing a more complete plant optimization solution for coal-fired power plant utility customers.”

“Praxis Engineers further strengthens the Plant Optimization Solutions strategy of optimizing plant operational output and emissions for the Power Generation industry,” said Henry Stueber, general manager of Plant Optimization Solutions. “Praxis’ products help to broaden our current plant optimization software portfolio.”

Praxis Engineers Inc. will become part of Plant Optimization Solutions, a GE Power Systems business.

About GE Power Systems

GE Power Systems (http://www.gepower.com) is a supplier of power generation technology, energy services and management systems with 2000 revenue of $15 billion. The business has the largest installed base of power generation equipment in the global energy industry. GE Power Systems provides equipment, service and management solutions across the power generation, oil and gas, distributed power and energy rental industries.