HoustonStreet Becomes Microsoft Certified Partner

Company solidifies broader business focus with certification from Microsoft

PORTSMOUTH, N.H., July 23, 2001 - HoustonStreet today announced it was accepted by Microsoft as a Microsoft Certified Partner, specializing in .NET technology. Through this program, Microsoft is supporting HoustonStreet in its efforts to provide .NET-based trading platforms and technology solutions for the energy industry.

"We are excited about the innovative platform that HoustonStreet has pioneered, and look forward to expanding our technical and marketing relationship," said Craig C. Dillon, practice manager for Microsoft Technology Center East Region.

Microsoft recognized HoustonStreet’s success in the energy industry and, through the Microsoft Partner Program, is supporting the company’s efforts to enhance business efficiencies for its customers. HoustonStreet plans to leverage the program to enhance its technical competency and business proficiency in the development of .NET-based products. The Microsoft Certified Partner Program is worldwide in scope and considered one of the most important resources for enabling Microsoft Solutions.

"When customers are looking to implement a Microsoft technology solution for their business their best bet is to turn to an expert - a Microsoft Certified Partner," said Rosa Garcia, General Manager Partner Programs Group, Microsoft Corp. "Microsoft provides its Microsoft Certified Partners with in-depth access to existing and emerging Microsoft technologies and related training and resources to ensure that they have the technical intimacy needed to deliver quality solutions. Today, Microsoft recognizes HoustonStreet for demonstrating this level of expertise and welcomes them as a new Microsoft Certified Partner."

"We believe that Web Services will revolutionize B2B interoperability through open standards and that Microsoft through .NET will provide the best of breed tools and technology to enable this revolution," said John Wyman, CTO of HoustonStreet.

About HoustonStreet, Inc.
HoustonStreet is a leading .NET software and services provider to the energy industry dedicated to providing real, quantifiable savings using Microsoft’s .NET technology. As an independent exchange, HoustonStreet currently offers crude oil and refined products trading exchanges. HoustonStreet, Inc. is headquartered in Portsmouth, N.H. with offices in Houston, Texas and a foreign subsidiary office in London. The company is a minority-owned subsidiary of BayCorp Holdings, Ltd. (AMEX: MWH). For more information on the company and its products, visit HoustonStreet at www.houstonstreet.com.

This press release contains forward-looking statements. There are a number of important factors that could cause these forward-looking statements to be materially inaccurate. These factors include, without limitation, (i) HoustonStreet.com may not be able to operate profitably and shift in business focus may not gain market acceptance, (ii) technological or systems outages could occur, (iii) competitors with greater financial, marketing or other resources could emerge, (iv) market acceptance of HoustonStreet.com cannot be predicted. HoustonStreet.com is a registered service mark of HoustonStreet Exchange.