GFI Completes Acquisition Of SPL WorldGroup; SPL And Synergen Merge

Utilities Worldwide Can Now Benefit From a 'First of its Kind,' Comprehensive Enterprise Operational Solution Set

SAN FRANCISCO, CA, DECEMBER 21, 2004 - SPL WorldGroup, Inc., a leading provider of mission-critical software solutions for the global utility market, today announced that GFI Energy Ventures, LLC has completed their majority share acquisition of SPL as well as the completion of the merger of Synergen, Inc. with SPL. The new company will be known as SPL WorldGroup, Inc. The merger creates a utility-specific suite of software solutions that includes customer care and billing, enterprise asset and work management, mobile workforce management, outage management, and distribution management.

The completion of this acquisition and merger represents delivery on a promise made by SPL less than a year ago. "SPL made a commitment to the utility marketplace to deliver a complete, single source and integrated suite of best-of-breed, utility-specific software solutions," said SPL CEO Harry Debes. "Our acquisition of CES's outage and distribution management assets was the first step in fulfilling this vision. The addition of Synergen's enterprise asset, work and mobile workforce management applications further delivers on that promise, placing SPL far in front of its competition. SPL can now effectively package and deliver the benefits of a sole-source vendor to utility customers - something previously unavailable in this market."

"GFI's goal was to bring together the components to create an end-to-end software vision for the global utility industry. SPL and Synergen are the perfect complement - both from a product synergy standpoint, as well as their closely aligned customer-centric philosophies," said Andrew Osler, senior vice president of GFI. "We're quite enthusiastic about SPL's strategic growth and range as we continue to carefully execute our vision to provide the best-in-class solutions that meet the challenges today's utilities face."

"SPL has responded to market demands by providing an industry process solution set that I anticipate being very competitive in the marketplace," commented renowned utility industry analyst Warren B. Causey. "As a company, this strategic merger has also skirted the limitations on growth we have seen for many best-of-breed companies, especially in the Enterprise Asset Management (EAM) arena."

The new integrated SPL entity will make its industry debut next month at the 15th annual DistribuTech Conference and Exhibition in San Diego, CA on January 25-28, 2005. Visitors can experience the SPL vision in action via live demonstrations of the integrated solution set, as well as vital stand-alone applications that support mission-critical utility work processes.

About SPL
SPL (www.splwg.com) delivers the proven software applications that help utilities around the world achieve competitive advantage and excellence in business performance. SPL solutions in customer care and billing, outage management, and distribution management are specifically designed for energy, water, and service companies, providing a platform from which they serve residential, commercial, and industrial customers in regulated and competitive markets, across multiple products and jurisdictions. Working with systems-integration and technology partners around the world, SPL has an unparalleled record of implementation success. Financially strong, and with customers on six continents, SPL focuses on clients' return on investment and fosters long-term relationships based on confidence and trust. Visit SPL at www.splwg.com or call +1-866-468-6775 (San Francisco), +44-207-851-6840 (London), or +61-2-8258-8200 (Sydney). Within the US and Canada, call +1-800-275-4775.

About GFI
GFI Energy Ventures LCC (www.gfienergy.com) is a significant equity investor in established, industry-leading companies in the energy industry. Since 1995, GFI has originated more than forty investments in successful companies that provide systems, software, equipment and services primarily to the utility industry and related sectors. GFI oversees a portfolio of companies with a market value in excess of $2 billion and is the co-general partner with Oaktree Capital Management, LLC of the $454 million OCM/GFI Power Opportunities Fund, L.P

Source: SPL