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Power Plant At Phnom Penh, Cambodia

MEDIACOM-RELEASE-JUPITER-POWER-INTERN'L

JUPITER POWER EXECUTES AGREEMENT FOR 15MW CATERPILLAR ELECTRIC POWER PLANT AT PHNOM PENH, CAMBODIA

TO BUSINESS AND ENERGY EDITOR:

PHNOM PENH, Cambodia, Nov. 30 RNewswire-AsiaNet/ -- Jupiter Power Cambodia Co., Ltd. ("Jupiter") is pleased to announce that it has executed a Power Purchase Agreement with the central electric power authority of Cambodia, Electricite Du Cambodge, under which Jupiter will install and operate a 15 megawatt electric power plant located in Phnom Penh, Cambodia's capital city. This new power plant will provide a significant portion of the electricity so critically needed by this rapidly growing city of over one million people, thereby making a substantial contribution to the economic growth and stability of Cambodia.

Jupiter will invest approximately US$6 million in the new power plant representing a substantial step forward in the development of Jupiter's expanding electric power business in Cambodia. The Phnom Penh power plant is expected to begin Commercial Operations by June of 2000, at which time Jupiter will have four (4) power plants operating in Cambodia (Pursat, Kampong Chhnang, Battambang, and Phnom Penh) and will be one of Cambodia's largest private generators of electricity.

This new Phnom Penh power plant will employ Caterpillar's "Power Module" concept and includes 10 Caterpillar 3516HD Engine-Generator sets, each having a self-contained all modular design and all interconnected through a central control system. This is the same Caterpillar power generation technology utilized at Jupiter's Battambang, Cambodia power plant.

Jupiter Power Cambodia Co., Ltd. is a wholly owned subsidiary of Jupiter Power Holdings, Ltd. (Bermuda) which is a joint venture between Jupiter Power International Inc. of Calgary, Canada and Caterpillar Power Ventures International, Ltd. (Bermuda). Jupiter Power Holdings develops electric power generation projects in Canada, the United States, Asia and in other developing nations ranging in size from about 2 to 20 megawatts.

Jupiter Power International Inc. (Alberta: JPC) is an Alberta, Canada public corporation which has developed and operated independent power production operations in Southeast Asia. The corporation has successfully operated diesel power plants in Cambodia for 3 years, has recently explored project opportunities in the region, and has applied managements background in oil and gas exploration to evaluate independent power projects in Western Canada.

Caterpillar Power Ventures International, Ltd. develops and invests equity into electric power projects utilizing power generation equipment manufactured by Caterpillar Inc. (its parent company), or Caterpillar's other subsidiary and manufacturer of power generation equipment, Solar Turbines. Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines and is one of the largest manufacturers of power generation equipment in the world.

SOURCE Jupiter Power International Inc.

CONTACT: David M. Lewis or David E.T. Pinkman of Jupiter Power International Inc., 403-269-9100, or 800-861-6068, or jppinttelusplanet.net; or Marsha M. Hausser, Corporate Public Affairs of Caterpillar Inc., 309-675-1307, or HausserMarshaMCAT.com

MEDIA RELEASE FROM JUPITER POWER INTERNATIONAL INC

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