Cinergy Solutions and Procter & Gamble to partner on utilities outsourcing project at St. Bernard Plant

Cinergy Solutions Inc. has signed a 20-year agreement with The Procter & Gamble Co. as part of an overall outsourcing initiative at the St. Bernard, Ohio plant.

CINCINNATI, Ohio, Jan. 21, 2003 -- Cinergy Solutions Inc. has signed a 20-year agreement with The Procter & Gamble Co. as part of an overall outsourcing initiative at the St. Bernard, Ohio plant. This initiative is part of P&G's effort to concentrate on its core areas of expertise -- research & development and product marketing.

Under the agreement, Cinergy Solutions will take over the operation and maintenance (O&M) of a combined steam and electric power plant, electric infrastructure, water, sewer and steam distribution system.

"P&G is pleased to leverage the capabilities of Cinergy Solutions to maximize our manufacturing cost effectiveness," stated Bill Griesser, P&G chemicals director. Cinergy Solutions' primary objective is to reduce P&G's energy expenditures and increase reliability by using Solutions' core competencies of energy asset management.

"We excel at providing efficiently produced, reliable energy at the lowest possible cost," said Tim Ferguson, vice president of Cinergy Solutions. "The U.S. Environmental Protection Agency and the U.S. Department of Energy recognized two of our projects in 2002 for energy efficiency and pollution reduction."

As part of the efficiency efforts, Cinergy Solutions will upgrade or replace portions of the existing system. "We're pleased that P&G has chosen us as a partner to manage their energy facility and that we are an important part of their core business focus initiative," said Michael Cyrus, president and CEO of Cinergy Corp.'s Energy Merchant Business Unit.

About Cinergy Solutions

Cinergy Solutions focuses on cogeneration, energy services and utility outsourcing for large industrials, municipalities, universities and other large energy consumers. Its customers include BP Amoco, Kodak and General Motors. It is an affiliate of Cincinnati-based Cinergy Corp., a diversified energy company with assets of $12 billion.

About Procter & Gamble

P&G is celebrating 165 years of providing brands that are used every day by consumers. It markets nearly 300 brands -- including Pampers®, Tide®, Ariel®, Always®, Whisper®, Pantene®, Bounty®, Pringles®, Folgers®, Charmin®, Downy®, Lenor®, Iams®, Crest®, Actonel®, Olay® and Clairol® -- in more than 160 countries around the world. The P&G community consists of nearly 102,000 employees working in almost 80 countries worldwide. P&G Chemicals, a business unit of The Procter & Gamble Company, is a global marketer of fatty alcohols, methyl esters, fatty acids, glycerine, SEFOSE and tertiary amines. P&G Chemicals has sales offices in Cincinnati, Ohio, Sao Paulo, Brazil, London, England, Mexico City, Mexico, Singapore and Kobe, Japan. Please visit www.pg.com for the latest news and in-depth information about P&G and its brands.


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