FOR IMMEDIATE RELEASE: August 2, 2006

Catamount Energy Corporation Completes Strategic Review Process

RUTLAND, VT – Catamount Energy Corporation (Catamount) announced today that it has completed the strategic review process it engaged Goldman Sachs to manage earlier this year. Catamount is a wind energy company owned by Diamond Castle Holdings (Diamond Castle).

“The strategic process has been concluded with Diamond Castle and Catamount’s management determining that there is better value in continuing to build the U.S. and the UK wind businesses than there is in exiting those businesses,” said Mike Ranger, a Senior Managing Director of Diamond Castle Holdings LLC.

“Despite new entrants into the market, Catamount’s build-out of the wind business has proceeded faster than planned,” said James Moore, Catamount’s CEO. “Catamount’s early-mover status, the existing pipeline of late-stage development projects, and our efforts to expand the pipeline will provide a continuation of the significant value creation that has been occurring within Catamount since entering the wind business in 2001,” Moore concluded.

“At the outset of the process, we said that we were willing to explore all options based on the many approaches we were receiving from potential investors and buyers but that we would be very happy to continue to support Catamount’s continued growth if we did not find a compelling reason to do otherwise,” said Ranger. “Catamount has a very strong hand to play in a rapidly growing sector of the energy markets, and Diamond Castle expects to continue to invest significant amounts of capital in the business as long as we continue to find attractive investment opportunities,” Ranger concluded.

Catamount is a developer, owner, and operator of wind energy projects and has been in the business of providing clean, cost-competitive electricity in the U.S. and Europe for 19 years.
More information regarding Catamount is available on its web site at www.catenergy.com.



CONTACT: Marie Smith
Catamount Energy Corporation
802-772-6747 or Fax 802-772-6799
msmith@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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