IBM and Peace Sign Multi-Million Dollar Contract

IBM and Peace Software Sign Multi-Million Dollar
Contract to Support Xcel Energy

- Multi-year contract provides advanced customer management solution for
3.5 million regulated and deregulated customers -

Auckland, New Zealand – May 4, 2001 – New Zealand-founded Peace Software today announced that Peace and IBM have signed a multi-million dollar, five-year contract to implement Peace’s innovative Energy suite to support Xcel Energy’s 3.5 million regulated and deregulated electricity and gas customers in 11 Western and Midwestern markets. IBM’s utility and energy services consulting practice is part of IBM Global Services, the world’s largest information technology services provider.

The project will replace both a mainframe and client/server legacy system. The first major milestone will be deployment of the web-based Energy suite by June 1 for Xcel Energy’s participation in the Texas deregulation pilot.

Dr. Raymond E. Gogel, senior project executive, IBM Utility and Energy Services, said, “IBM works with advanced application providers such as Peace Software to create significant business value for our clients. This relationship, with IBM’s project management and proven implementation methodology, and Peace’s software and technical team will deliver a large scale, strategic solution for Xcel Energy that best positions it for the future.”

Wayne Brunetti, Xcel Energy president and chief executive officer, said, “We are leveraging the strength of IBM with the innovation of Peace Software to deliver outstanding customer service in both regulated and deregulated markets. The power of this new web-based technology will expand our strength as an energy provider and help us achieve our merger synergy savings.”

The implementation plan includes all customer management, commodity billing, and Internet components of the Energy suite to be deployed for Xcel Energy in its regulated and deregulated markets. IBM’s implementation team has been trained and certified on the Energy suite, and both IBM and Peace Software professional services consultants are on site at Xcel Energy.

Brian Peace, Peace Software chairman and chief executive officer, said, “We are already working shoulder-to-shoulder with IBM and Xcel Energy to create business advantages with the most advanced aspects of the Energy suite. The flexibility and scalability of the Energy suite means Xcel Energy can rapidly move into multiple markets with a variety products and services.”

About Peace Software
Peace Software, Inc. delivers the most comprehensive and cost-effective customer management solutions for utility and retail energy companies. The industry-leading Energy™ suite is being rapidly deployed in 20 transitioning energy markets around the world. Based on industry standards, the innovative and customer-proven Energy suite integrates customer and commodity management for commercial and industrial (C&I) and mass markets. Founded in Auckland in 1984, Peace also has offices in the United States, Canada and Australia. The company’s headquarters are in Miami, while its research and development centre remains in New Zealand. Visit us at www.peace.com.

About Xcel Energy
Xcel Energy Inc., a prominent U.S. electric and natural gas utility with operations in 12 Western and Midwestern states, was formed in August 2000 by the merger of Minneapolis-based Northern States Power Co. and Denver-based New Century Energies. Xcel Energy provides a complete portfolio of energy-related products and services to over 3 million electricity customers and 1.5 million natural gas customers. For more information visit www.xcelenergy.com.

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