Power Engineering - John F. Paul named CEO of RealEnergy Inc.

WOODLAND HILLS, Calif., July 2, 2003 -- RealEnergy, Inc., a combined heat and power (CHP) onsite energy generation company, announced Wednesday that John F. Paul, a veteran power industry executive, has joined the company as Chief Executive Officer.

Paul has an extensive background in the global power quality industry, first as President of Best Power of Necedah, WI, and then as President of Raleigh, NC-based Invensys Secure Power, which acquired Best Power in December 1999. Both of these companies designed, manufactured, and marketed a full range of uninterruptible power systems (UPS), which provide clean, reliable power assurance for critical computing and telecom applications. Most recently, Paul served as interim CEO of High End Systems, Inc., an Austin, Texas-based producer of automated lighting systems.

Paul spent much of his early career at Eaton Corporation where he had general management responsibility for several major divisions including the Chicago-based Automotive Controls Division. He is a trained civil engineer and has been involved in the design and project management of nuclear power plant control systems and construction projects.

"John's strong technical background, as well as his hands-on knowledge of the power sector and his proven ability to lead and build a business, will be a tremendous asset to RealEnergy as we enter our next exciting phase of growth," said Chairman Daniel M. Cashdan. He stated that RealEnergy is currently involved in a significant wave of installations of onsite power generation systems in a range of commercial buildings including office buildings and hotels in markets like New York, New Jersey, Boston and in multiple California locations.

To date, RealEnergy has installed or is under construction with 36 onsite generation systems around the country and will have a 50 MW portfolio by the end of the year.

As a veteran of the power industry, Paul is a strong believer in the future of distributed power generation. "The opportunity to be part of the RealEnergy Team on the leading edge of a revolutionary transformation of the power industry from solely centralized generation to distributed onsite generation was too good to pass up," Paul said. "My background in mission critical UPS opened my eyes to the long-term potential for onsite generation. The opportunity to guide a pioneer company like RealEnergy and solidify its position as the dominant player in the distributed power sector is a perfect match for my skills and experience. RealEnergy offers customers a compelling value proposition by generating savings or revenue, improving services, and removing risk, while also enhancing our nation's energy capacity, security, and environment."

John F. Paul replaces Alan Krusi, who left the company late last month to pursue other interests. Paul holds an MBA from the Harvard Graduate School of Business Administration and a BS in Civil Engineering from Cornell University.

Woodland Hills, CA-based RealEnergy, Inc., develops, owns and operates permanent onsite power generation systems, in commercial and industrial properties for real estate owners and corporations. Since inception, the company has generated nearly 29 million kWh of power and 1.6 million ton-hours of thermal energy. As of July 1, 2003, the company operated 17 facilities with 25.2 MW under contract. The company utilizes only systems that supply clean, reliable electrical energy for facilities, using technologies that provide high levels of energy efficiency. RealEnergy's website is www.realenergy.com.

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