Coal, New Projects

Prebon Energy launches new coal desk

JERSEY CITY, N.J., March 19, 2002 — Prebon Energy announced Tuesday that it has established a new coal desk. The new desk complements Prebon Energy’s position in the global oil, natural gas, and power markets.

According to Dave Rutter, CEO of Prebon Energy, “We are now positioned to capitalize on the recent US government policy shift towards developing coal as a primary energy source. Having undergone rapid proliferation, the coal market is moving from Main Street to Wall Street. Prebon Energy is always looking for new market opportunities for our clients.”

Led by Lee Taylor, SVP of Prebon Energy, the new coal team has amassed extensive expertise in the energy sector. Including Enrico Biasetti, Michael Brienza and Larry LaCosta, the group collectively has over 60 years of industry experience. Lee Taylor adds, “We are very proud of the team we have assembled. They have experience in new market development, mergers and acquisitions, and financially traded products in various industries including but not limited to coal. This enables them to think outside the box, providing a higher level of service to our customers.”

Prebon Energy is an institutional 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 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 27 financial centers worldwide, including close to 200 energy professionals in offices in the New York area, Houston, London, Singapore, Sydney and Tokyo. www.prebon.com