OpenLink

Natural Gas Logistics Functionality Released for OpenLink's Endur

gMotion Scheduling Product Completes Front- to Back-office Transaction Support

MITCHELL FIELD, NY, March 19, 2003 /PRNewswire/ — OpenLink, an industry leader in energy and financial trading and risk management software solutions, today announced the release of gMotion, an integrated natural gas scheduling product for North American users of Endur, its flagship trading, risk management, and operations solution.

The release of gMotion marks the availability of the industry's first fully comprehensive physical and financial natural gas transaction processing environment. With the addition of logistics coverage, OpenLink now provides natural gas producers, pipeline operators, local distribution companies (LDCs), and wholesalers/marketers a complete front- to back-office transaction management environment that includes trade capture and pricing, real-time position management, risk analytics, scheduling logistics, confirmation and settlement support, and accounting. Specifically designed and developed to increase productivity, eliminate integration issues, and address the inadequacies of out-of-date and/or orphaned scheduling systems, gMotion allows organizations to greatly improve the efficiency of scheduling-related activities including, but not limited to, management and valuation of storage balances, allocation of best available volumes, and maintenance of a comprehensive tariff rates database.

gMotion offers flexible, user-friendly filtering and query support for nomination management, allowing for the creation of book-out or back-to-back nominations, paths into and out of interconnections and pools, and movements into or out of storage facilities and park-and-loan contracts. Unlike most legacy scheduling systems, users can now manage imbalance accounts by transportation contract (standard or zone-based) and create Operational Balancing Agreements (OBAs) for specific meter locations within gMotion. Cash-out and non-cash-out imbalance support also is provided so that proper imbalance positions will always be monitored and displayed.

Enhanced and expanded operations coverage is provided with gMotion and includes detailed invoice generation and tracking, intelligent support for prior period adjustments, and the capture and management of complex transportation and storage entitlements. Its open, real-time framework provides robust interface capabilities to external systems, while its tariff rates database delivers access to comprehensive rate structures that include daily and monthly tiers, seasonal-based charges, and mileage-based rates, so that transportation and storage charges can be calculated accurately and seamlessly.

"OpenLink has always prided itself on delivering market-leading solutions, and gMotion is another example of this development commitment," said Coleman Fung, OpenLink's founder and CEO. "We are now able to provide a highly competitive scheduling solution to a market that because of vendor consolidation has very limited options. Supported by our in-depth market knowledge, talented design capability, proven technology expertise, and strong client relationships, we are very bullish that gMotion will improve clients' operations, support their growth, and reduce the overall cost of IT ownership."

About OpenLink

Founded in 1992, OpenLink is a leading provider of trading, risk management, and operations software solutions. The company's Adaptive, Dynamic, and Integration-enabling (ADI) Framework-based solutions support the most rigorous business requirements of firms trading in energy, interest rate derivatives, fixed income securities, foreign exchange, money markets, metals, and soft commodities. OpenLink's global client base includes Bank for International Settlements, Bank of Canada, Bank of Scotland Treasury Services, Deutsche Bank, Duke Energy International, EnCana, Equiva Services, Mobil UK, Mirant, Nexen, Shell Trading, and Vattenfall Europe Trading. Headquartered in Long Island, New York, OpenLink employs more than 280 professionals worldwide, with offices in London, Houston, New York City, Berlin, and Tokyo.

Editorial Contact:

e-mail: Dorianne Landolphi
OpenLink
Marketing Communications Manager
Direct phone: +1 516 394 1115
Fax number: +1 516 394 1197