Pricelock, the most innovative platform for energy professionals to transact, network, recruit and search for jobs, announced today the completion of its first two successful natural gas capacity auctions. Both auctions were hosted by large, multi-state power and natural gas transmission companies selling excess pipeline capacity.

"Pricelock's competitive online auction process provides transparency, efficiency and regulatory reporting to those transacting natural gas capacity. We are pleased to offer the same valuable time savings and cost reductions currently enjoyed by buyers and sellers of natural gas, natural gas storage, power, coal, railcars and motor fuels," said Naveen Agarwal, Chief Executive Officer. "We are happy our customers received improved bidder participation and delighted by the pricing they were able to get for their capacity releases."

Pricelock has streamlined the sale of natural gas capacity from start to finish, beginning with invitations to potential bidders through training, analysis and awards. Because it all takes place online, Pricelock provides an end-to-end audit trail--including names of companies invited to participate, a time-stamped history of all bids and final award information. The Pricelock natural gas capacity release auction is a pre-arranged, biddable deal that occurs prior to posting on the pipeline's electronic bulletin board (EBB). Upon completion of the auction, the capacity seller posts the deal on the EBB at which time standard EBB and FERC rules apply.

About Pricelock

Pricelock allows energy professionals to transact energy products online, connect with other professionals based on their interest in buying and selling specific types of energy, and to recruit talent and find jobs. The platform supports transactions for all energy products and services including motor and jet fuels, physical natural gas, storage and capacity, power generation and capacity, railcar leases and coal. The largest utilities, power cooperatives, power generators, investment banks, refiners, producers, marketers, transportation, industrial and commercial firms participate on the platform. Pricelock's mission is to provide liquidity for energy products not traded on an exchange.

Pricelock is headquartered in Silicon Valley and the recipient of several awards including Forbes list of America's Most Promising Companies, Global Energy Award of Excellence by Platts and TiE50 Top Start-Up. Pricelock's investors include Goldman Sachs, Barclays, Traveler's Insurance, RenaissanceRe and Artiman Ventures. To learn more about Pricelock please visit www.pricelock.com.

Ward for Pricelock
Molly LeCronier, 713-869-0707
mlecronier@wardcc.com
Roxanna Salas, 713-869-0707
rsalas@wardcc.com