LS Power Affiliate Signs Engineering, Procurement and Construction Contract for Arkansas Coal Plant

OSCEOLA, Ark. (January 16, 2006) – Plum Point Energy Associates, LLC ("Plum Point"), a member of the LS Power Group ("LS Power") announced today that it has executed a contract with Plum Point Power Partners, a joint venture of Zachry Construction Corporation, Black & Veatch, and Gilbert Central Corp, an affiliate of Kiewit Construction Company, for the engineering, procurement and construction ("EPC" ) of its 665 megawatt pulverized coal plant in northeast Arkansas.

"Each of these entities has provided EPC services on past LS Power projects and we are confident in their capabilities," said Michael Witzing, Executive Vice President of LS Power.

"We are excited about working with the LS Power organization, a leader in the power generation industry, to provide turnkey EPC services for one of the first new major coal fired plants to be built in the southeastern U.S. in years," said Tom Kaczmarski, Project Executive of Plum Point Power Partners.

Plum Point has issued a limited notice to proceed to Plum Point Power Partners to begin engineering and procurement related activities. On-site construction will begin in the spring of 2006 and the project is scheduled to begin commercial operation in early 2010.

The project will provide reliable, low-cost electricity to wholesale purchasers utilizing proven, pulverized coal boiler technology along with advanced emission controls – making it one of the cleanest coal-fired plants in the U.S. Plum Point is finalizing definitive arrangements with a number of municipal utilities, electric cooperatives and other entities for joint ownership in the project and/or long-term power sales agreements.

The LS Power Group

In addition to the Plum Point Energy Station, members of the LS Power Group have multiple coal fired projects in advanced development in Texas, Georgia and Nevada. Founded in 1990, the LS Power Group is a fully integrated power plant owner, developer and manager with offices in New York, New Jersey, Missouri and Florida.

Zachry Construction Corporation

Zachry Construction Corporation (ZCC) is a privately held company founded in 1924 and based in San Antonio, Texas. ZCC is one of the largest power industry contractors in the United States with over 50,000 MW of installed power in the U.S. and currently has over 2,600 MW under construction. The company's website address is www.zachry.com.

Black & Veatch

Black & Veatch Corporation is a leading global engineering, consulting and construction company specializing in infrastructure development in energy, water, information and government markets. The employee-owned company has more than 90 offices worldwide. Black & Veatch is ranked on the Forbes "500 Largest Private Companies in the United States" listing. The company's website address is www.bv.com.

Gilbert Central Corp

Gilbert Central Corp is a subsidiary of Peter Kiewit and Sons, Inc (PKS). PKS is one of the nation's largest construction companies with extensive experience in design-build power plants. The company's website address is www.kiewit.com.

LS Power Group Contact:
Eric Crawford - Director, Project Development
636-532-2200
ecrawford@lspower.com

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