Sithe Engages Goldman Sachs to Advise in Sale Process

New York (PROTEXT) - Sithe Energies, Inc., a privately heldleading global competitive power company, announced that it hasengaged the investment banking firm of Goldman, Sachs & Co.(NYSE: GS) to advise Sithe with respect to its announcedintention to seek a buyer for the Company. At its meeting inParis on October 1, 1999, Sithe's board of directors, whichincludes representatives of Vivendi and Marubeni Corporation,Sithe's largest shareholders, appointed William Kriegel, chairmanand chief executive officer of Sithe, to initiate and manage thesale process. The Company stated that it does not plan to make furtherannouncements regarding this matter until a definitive agreementis reached. Sithe Energies, Inc., founded in 1984 and headquartered in NewYork, develops, owns and operates power plants worldwide. Whenits recent acquisition of GPU's assets is completed, Sithe willown 51 power plants in the United States and Canada, including 40in the Northeast. Sithe also has an extensive global portfolio ofprojects in operation, under construction or under activedevelopment. In total, Sithe, including its domestic projects andthe GPU acquisition, will own more than 28,000 gross megawatts ofelectric capacity when its planned development and expansionprojects are completed. The Company is 60 percent owned byVivendi (F. VVN), one of the world's leading utilities andenvironmental services companies, and 30 percent owned byMarubeni Corporation, a major Japanese trading company.Management owns the remaining 10 percent. ots Original TextService: Sithe Energies, Inc. Internet: http://www.newsaktuell.deContact: Judith Wilkinson or Josh Silverman of AbernathyMacGregor Frank (USA) 212-371-5999, for Sithe Energies

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