New features on HoustonStreet.com streamline Web-based Wholesale Power Trading

Houston Street Exchange adds a host of new features based on user input to improve site.

PORTSMOUTH, N.H., Nov. 1, 1999 - Houston Street Exchange today announced it has enhanced HoustonStreet.com to streamline how users buy and sell wholesale power online. Responding to user feedback, Houston Street Exchange has added new features to the site that (i) improve the entire process by ensuring that all trades are binding, (ii) speed up the site so users can make more trades faster, and (iii) provide traders with access to additional portal content and information.

One of the most significant improvements ensures that all bids, offers and counteroffers on HoustonStreet.com are binding. HoustonStreet.com initially allowed both binding and non-binding bids and offers to be posted on the system. This was intended to replicate how power is traded today over the telephone. Houston Street Exchange removed the non-binding trading environment after some users experienced "flaking" - the process in which a trader backs out of a deal mid-way through negotiations and the other party has accepted the terms. By making all bids, offers and counteroffers binding (when a bid is hit or offer is lifted, the deal is done), HoustonStreet.com now offers the power of negotiation while eliminating the threat of flaking.

Houston Street Exchange also added a feature that allows traders to add their own default settings for creating bids and offers. Traders who tend to deal in the same products and terms can now pre-set these fields for each trading region, thus streamlining the process of posting bids and offers on the trading floor.

Feeding an Online Community
To continue growing the virtual trading community on HoustonStreet.com, Houston Street Exchange has signed contracts with premier weather, sports and stock information providers to give traders the best and most immediate information they want while they are trading wholesale power. Houston Street Exchange has inked an exclusive contract with EarthSat, the most respected weather forecasting service in the energy industry. EarthSat will provide HoustonStreet.com users with detailed current, future and historical weather information for each power trading region. Users can view hourly updates within each region and comparative analyses of current and past weather data to help them make the best trading decisions.

For sports fans trading on the site, Houston Street Exchange has signed an agreement with The Sports Network to provide extensive news, scores, standings and odds for a dozen major sports. Now traders can get the latest scores from college and professional teams and track their favorite team's progress. Finally, stock traders will be able to track the companies in their portfolio while using HoustonStreet.com through a partnership with PCQuote. Houston Street Exchange signed a deal with PCQuote to allow users to track their portfolios, view market gainers and losers and watch the fluctuations of major indices.

"Developing and growing a successful virtual community for power traders means responding to their input," said Frank Getman, president and CEO at Houston Street Exchange. "Those traders are the primary users, and they know what they need to do their job better. We've added these new features based upon their feedback to streamline the trading process and make HoustonStreet.com their primary tool for buying and selling wholesale power. We are committed to continually improving the site and creating the premier online trading environment."

HoustonStreet.com allows users to post offers, make bids, counter and re-counter based on the product and term of their choice. With the site, users can trade power much like they do today (via telephone), but with a much more efficient and easy-to-use medium - the Internet - providing much broader access to market information.

About Houston Street Exchange
Designed by power traders for power traders, Houston Street Exchange has developed the first Web portal for trading wholesale electric power. HoustonStreet.com provides an online trading floor that allows power traders to buy and sell power faster, more efficiently and more easily than they do today. Houston Street Exchange is headquartered in Portsmouth, New Hampshire. Houston Street Exchange is a wholly owned subsidiary of BayCorp Holdings, Ltd., (AMEX: MWH).

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, that (i) power traders may be unwilling or unable to use Internet-based power trading systems, including HoustonStreet.com, (ii) HoustonStreet.com may not be able to operate profitably, (iii) technological or systems outages could occur and (iv) competitors with greater financial, marketing or other resources could emerge. Trades on HoustonStreet.com may include transactions involving affiliates of BayCorp Holdings, Ltd. HoustonStreet.com is a registered service mark of Houston Street Exchange.