Macquarie Cook Power announces commencement of trading

02 April 2007

HOUSTON, April 2, 2007 —The Macquarie Group (Macquarie) today announced the commencement of trading by Macquarie Cook Power Inc., an electricity trading and marketing company servicing the North American energy market.

Based in Houston, Macquarie Cook Power provides physical and financial electricity trading and marketing services to electricity producers, mid-sized utilities, industrial users, and other large wholesale energy sector participants. Comprising approximately 20 staff, the team brings significant market experience and a strong track record of deal origination and risk management.

Head of Macquarie Cook Power, Ben Preston said, "We are enthusiastic about the U.S. electricity market and the opportunities it presents. We are very encouraged by the success of Macquarie’s established energy businesses in North America and look forward to building a physical and financial capability in Houston that has the potential to be a significant part of Macquarie’s commodities offering.”

Mr. Preston, most recently Head of Macquarie’s Treasury and Commodities Group in Europe, will relocate from London to Houston to assume management of Macquarie Cook Power and will jointly head Macquarie’s North American gas and power business with Nick O’Kane, Chairman of Macquarie Cook Energy.

“Macquarie Cook Power is a highly complementary business to Macquarie Cook Energy. Our Macquarie Cook platform now offers clients the opportunity to derive considerable benefits that exist from the synergies of natural gas and electricity,” said Mr. O’Kane.

The establishment of Macquarie Cook Power expands Macquarie’s trading and risk management offering in the North American energy markets which now encompasses natural gas, electricity and renewable fuels. Macquarie Cook Power will form part of Macquarie’s wider Commodity Markets Division and operate as an adjacent business to the natural gas trading and marketing company of Macquarie Cook Energy.

About Macquarie Cook Power
Macquarie Cook Power Inc. is an electricity trading and marketing company servicing North American electricity producers, mid-sized utilities, industrial users, and other large wholesale energy sector participants.

A member of the Macquarie Group, Macquarie Cook Power specializes in providing power trading, hedging solutions and structured transactions for customers. Macquarie Cook Power sits alongside Macquarie Cook Energy's gas trading and distribution business offering knowledge and expertise in the adjacent natural gas market.

The Macquarie Group is active in a broad range of financial and physical commodities markets globally, with a worldwide team of professionals who have in-depth knowledge across a range of commodity sectors.