FOR IMMEDIATE RELEASE: January 19, 2004

Catamount Energy Announces the Completion of Sweetwater 1

RUTLAND, VT – Catamount Energy Corp. today announced that its first U.S. wind project has been completed and commenced operations in late December. Sweetwater 1, located in Nolan County, Texas, is a 37.5-megawatt project using 25 GE Wind turbines.

Catamount is an equity investor in the project. DKR Development LLC of Houston was the project developer. Babcock & Brown acted as the financial advisor for the project and is also an equity investor in the project.

"This is an important milestone for Catamount in its efforts to build a substantial wind energy business," Catamount CEO James Moore said. "DKR in the U.S. and Force 9 in the UK are terrific development partners, complementing our own development efforts. In addition, Babcock & Brown did a remarkable job structuring and arranging the financing that allows non-tax investors to participate, which creates a greater universe of investors for the wind energy industry in the U.S."

Catamount, the non-regulated subsidiary of CVPS (NYSE: CV), has been in the business of providing clean, cost-competitive electricity in the U.S. and Europe for over 15 years. Catamount is a developer, owner, and operator of wind energy projects.

More information on Catamount is available on the Internet at www.catenergy.com.

CONTACT: Marie Smith
Catamount Energy Corporation
802.772.6747 or Fax 802.772.6799
ismith@catenergy.com

This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect,” or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in wind and other projects, acceptance of the Companies products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks. By making these forward-looking statements, the Companies undertake no obligation to update these statements for revision or changes after the date of this release.

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