Tensleep announces consolidation of its original business into Tensleep Technologies

June 17, 2002
Tensleep Corp. is consolidating its business into its subsidiary Tensleep Technologies Inc., transferring all its interest in Appliance Partners Inc., to TTI, and seeking new partner companies.

AUSTIN, Texas, June 17, 2002 -- Tensleep Corp., a technology, product, business and corporate development company, announced that, as part of its restructuring and reorganization, it is consolidating its original business into its majority owned subsidiary Tensleep Technologies Inc. (TTI), transferring all its interest in Appliance Partners Inc., to TTI, and seeking new partner companies.

"TTI is to bring-to-market penetration of the Internet appliances (IAs) through strategic relationships," said Dennis Kaliher, president of TTI. "TTI is focusing on the energy management systems market and the distribution of the EnergyMatrix™ developed by Appliance Partners."

The EnergyMatrix™ series of products was designed to provide real time access to metered energy and water consumption data to support time-of-use rates and demand response programs that help moderate peak energy usage in the United States.

Information provided through use of these products can give consumers, municipalities, and property managers the knowledge they need to capitalize on favorable time-of-use utility rates, and provide utilities with the means to implement energy buyback and load curtailment programs.

"Tensleep has shifted its strategy to create long-term value for its shareholders on three specific paths," said Ronald S. Tucker, Tensleep's CEO. "The first focus is to launch TTI, the second is to support and develop semi-conductor industry companies, and the third is to support and develop bank service and specialty finance companies."

"Tensleep is seeking partner companies engaged in the semi-conduct industry, bank service and specialty finance companies," further stated Tucker, and "TTI is seeking partner companies in the energy management systems business."

Appliance Partners is a strategic partnership formed in 2000 between Appliance-Lab and Tensleep Corp. for the purpose of providing better communications in the use of energy management systems in the energy and utility industries. For more information on the EnergyMatrix™ visit www.appliance-partners.com.

Tensleep Corp. acquires and licenses technology and develops high-tech, Internet related and energy management system companies. The company's subsidiaries and strategic partners are focused in developing, manufacturing and selling Internet and communications products, services and solutions in niche markets.

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