Mid-Georgia Cogen is a 300 MW dual-fuel, combined cycle cogeneration project located in Kathleen, Georgia. The project sells electricity under a long-term contract to Georgia Power Corporation and sells steam under a long-term contract to Frito-Lay, Inc. As of closing, Perennial Power assumed the operations and maintenance responsibilities of the facility and retained all employees of the facility.

"We are pleased to welcome the employees of the Mid-Georgia facility into the Perennial family," said Ken Kageyama, President. "Mid-Georgia facility is just the first of several acquisitions we hope to make in North America as we grow our portfolio. The Mid-Georgia facility will integrate well into our global portfolio and we look forward to the next opportunity."

Perennial Power is a part of the Sumitomo's global power portfolio totaling over 5,000 MW of net equity capacity. Sumitomo has a target to grow its portfolio to 6,300 MW of net equity capacity by 2011, and is focused on acquiring and developing generation stations in North America, Asia, Australia and the Middle East. This follows recent acquisitions by Sumitomo, including interest in the 320 MW Kwinana project in Australia and the 1,500 MW Shuweihat 1 project in the United Arab Emirates.

Sumitomo is also active in renewable energy and recently entered the U.S. wind energy business with the purchase of an interest in the 120 MW Stanton wind farm in Martin County, Texas. Additionally, Sumitomo developed two wind farms operating in Japan, and one project in China, and has an utility scale solar project in Spain.

About Perennial Power

Perennial Power owns, operates and manages power plants in North America and provides technical and advisory services to power generation projects in Sumitomo's global portfolio. Perennial Power has 570 MW net equity capacity in the U.S. and operates two of the facilities in its portfolio. Perennial Power is actively seeking to acquire clean burning natural gas and compliant modern coal generation in North America. For more information, visit www.perennialpower.net.

About Sumitomo Corporation of America

Sumitomo Corporation of America (SCOA), established in 1952 and headquartered in New York City is a wholly owned subsidiary of Sumitomo Corporation (SC). As an integrated trading and investment enterprise with offices throughout the Americas, it is an investor and business partner in more than 80 subsidiary and affiliate companies and engages in multifaceted business activities, which include selling a variety of domestic products and services, conducting import/ export and trilateral business transactions, providing domestic and international business investment, and participating in numerous other profitable activities facilitated by its global network and the relationships of trust built with corporate business partners and consumers in various industrial sectors around the world. For more information, visit www.sumitomocorp.com.

About Sumitomo Corporation

Sumitomo Corporation is a leading general trading company, with 150 locations in 70 countries throughout the world. The entire Sumitomo Corporation Group ("the Group") consists of nearly 900 companies and more than 60,000 personnel. The SC business is continuously expanding into a diverse range of products and services. Its core business units are Metal Products; Transportation & Construction Systems; Infrastructure; Media, Network & Lifestyle Retail; Mineral Resource, Energy Chemical & Electronics; General Products & Real Estate; and Financial & Logistics. For more information, visit www.sumitomocorp.co.jp/english/.

Source: Sumitomo Corporation of America; Perennial Power Holdings, Inc.