FOR IMMEDIATE RELEASE: February 20, 2004

Catamount Energy and Statkraft SF announce
Joint Development Agreement for the United Kingdom

RUTLAND, VT – Catamount Energy Corp. and Statkraft SF announced today that they have entered into a joint development agreement covering their wind energy development efforts in the United Kingdom. Catamount and Statkraft will jointly fund the development activities of Force 9 in the UK. Force 9, which is a wind energy development company, was formed by David Butterworth in 2002.

“Force 9 has established a solid pipeline of development projects scheduled to start closing in 2005. Statkraft provides Catamount with a major European-based utility as a partner in this effort and provides Force 9 with broader and deeper resources than Catamount could provide on its own,” said Joseph Cofelice, Catamount’s president. “This deal significantly enhances our ability to grow our UK wind portfolio over the next several years.”

“Statkraft’s vision is to be a European leader in environmentally friendly energy. Accordingly, Statkraft has established a strategy for expanding its wind business in the UK,” stated Haakon Alfstad. “This cooperation agreement takes us a lot closer to reaching our aims for the UK market.”

“Working with Catamount Energy since 2002 has enabled us to secure a growing portfolio of solid wind power projects in the UK,” said David Butterworth. “Statkraft’s participation in the joint venture and the additional skills they will bring will allow us to build on that start.”

Catamount, the non-regulated subsidiary of Central Vermont Public Service Corp. (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.

Statkraft is the largest electricity generator in Norway, producing some 40 twh per year of renewable energy, which makes Statkraft the second largest renewables electricity generator in Europe. Statkraft is also engaged in offshore wind developments in the UK with its Barrows and Walney Island projects.

CONTACT:

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

Haakon Alfstad
Statkraft SF
47-240-67-352
haakon.alfstad@statkraft.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.

top/back

Home/Catamount Community/Catamount News/Timeline of Wind/
Economic Advantages/Business is Brisk/Related Links/Contact Info