Richard Rosenzweig to Bridge Environmental Policy and Emissions Trading Implementation to Develop Global Markets

New York, NY: October 27, 2000 – Natsource® LLC announced today it has hired Richard Rosenzweig, a former Chief of Staff at the Department of Energy who has worked primarily in the private sector on energy and environmental policy issues, to run its newly established office in the Nation’s Capitol. Mr. Rosenzweig has been named a Managing Director of Natsource.

Mr. Rosenzweig will focus on greenhouse gas markets to address global climate change, an area where Natsource has emerged as an industry leader. He will provide Natsource—and its global base of clients—policy consulting services as well as support the firm’s transactional business. Further, Mr. Rosenzweig will provide strategic direction for the firm. Mr. Rosenzweig will head the newly created Washington, D.C. operations of Natsource, which initially will have three employees.

“Rich Rosenzweig has been involved in many aspects of Clean Air Act and global climate change policy for the last 12 years, while in government and the private sector,” said Jack Cogen, President of Natsource. “He has an ability to utilize his public policy expertise to assist companies in the design and implementation of market-based environmental strategies to achieve environmental benefits at low cost.”

Mr. Rosenzweig joins Natsource from the Washington law firm of Van Ness Feldman, where he was a Principal. He provides consulting services to multi-national corporations and trade associations on all aspects of the climate change issue, including international climate change negotiations and domestic policy development. Mr. Rosenzweig also counsels clients on Clean Air Act matters. Some of his clients include British Petroleum, Alcan, American Electric Power, CMS Energy, Ch2M Hill, the Edison Electric Institute, and the Electric Power Research Institute.

Prior to his work at Van Ness Feldman, Mr. Rosenzweig served as Chief of Staff to the Secretary at the U.S. Department of Energy. He was responsible for developing and coordinating DOE strategy related to global climate change and participated in the development of the first U.S. Climate Change Action Plan. He also helped to negotiate voluntary agreements between DOE and more than 600 electric utilities to achieve voluntary greenhouse gas reductions in the "Climate Challenge" program.

Before his government service, Mr. Rosenzweig was a founder of Madison Public Affairs Group, where he advised several Fortune 500 companies on energy and environmental policy. Mr. Rosenzweig received his M.A. in political science from The American University and his B.A. in political science from Northeastern University.

“Rich’s combination of experience in the public and private sector will enable him to provide our clients with guidance in developing climate change strategy and to facilitate greenhouse gas transactions,” said Mr. Cogen.

Mr. Rosenzweig has been acknowledged as a leader in issues surrounding the design and implementation of market-based mechanisms to address the impact of global climate change. He recently co-authored two articles in the Environmental Law Reporter. The first article, which ran in October 2000, analyzed the environmental and economic impacts of existing buyer and seller liability proposals on emissions trading markets. The second article, which will run in the November 2000 issue, presents a liability proposal designed to achieve economic benefits and environmental integrity.

Natsource® LLC is a leading broker of energy related products and participates in the power, natural gas, coal, weather hedging and emissions allowance credit markets. Headquartered in New York, Natsource’s client base includes over 600 global companies who are leaders in the utility, coal, oil and natural gas markets, as well as the investment and commercial banking communities. With its joint venture partner, Tullett & Tokyo Liberty Plc, Natsource has global reach in all of the major financial centers.