CONTACT INFORMATION

Excelergy
www.excelergy.com

Portal Software
www.portal.com

CAMBRIDGE, MA., November 22, 1999 - Excelergy Corporation, a technology leader for the deregulated energy industry, today announced that it has secured $17.6 million for a second round of venture funding, bringing the total amount invested in 1999 to approximately $25 million. The new financing led by Nassau Capital L.L.C. includes significant new funding from Portal Software. Excelergy’s two existing venture capital investors, Battery Ventures and Hummer Winblad Venture Partners are also investors in this round.

“We have been actively searching for companies that are extremely well-positioned to benefit from the opportunities being created by energy deregulation,” said Thomas C. Barnds, managing director of Nassau Capital L.L.C. “We believe Excelergy has the right combination of energy industry knowledge and technology expertise in addition to a great management team that is poised to capitalize on this enormous market opportunity.”

This round of financing will be used to fund Excelergy’s development of next generation customer choice transaction and billing systems, as well as to Support the nationwide expansion of Excelergy’s e-ChoiceNet, the nation’s first Internet-based auction site for retail energy procurement. Excelergy now has over one hundred employees with offices in Cambridge, MA, Atlanta, GA and Santa Monica, CA.

“The deregulated energy market will drive a whole new breed of service providers looking to develop successful business models based on a combination of energy and IP services,” said John Little, founder and CEO, Portal Software. “Excelergy is a key infrastructure player with the technology to succeed in this emerging market.”

The pace of deregulation is accelerating and driving demand for next generation technologies that will better equip energy retailers to compete for customers when they begin choosing their energy provider. Excelergy is a proven leader in providing Internet-based customer management and billing solutions in what is now estimated to be multi-billion dollar annual market.

“Excelergy’s mission is clear: to make sure that our customers are ready to compete aggressively--and win--in the New Energy Economy* of customer choice,**” said Cary G. Bullock, president of Excelergy. “This investment will allow us to expand our development of innovative and effective technology solutions for energy choice.”

About Nassau Capital
Nassau Capital (www.nassau.com) is a private equity investment firm that manages approximately $2 billion of capital on behalf of Princeton University’s $6.3 billion endowment. Nassau invests opportunistically across many industries, but is particularly drawn to those undergoing structural change, such as energy. Nassau has also recently invested in other billing and customer care companies including Portal Software (Internet Protocol billing) and LiveWire (wireless billing).

About Portal Software, Inc.
Portal Software, Inc., is building business infrastructure for the Internet. Based in Cupertino, California, Portal is a leading provider of customer management and billing software for Internet and emerging, next-generation communications services. The company's real-time solution enables service providers to manage customers, support services and collect money. Portal's customers include US WEST, BellSouth.net, Qwest Communications, Concentric, Covad, Inktomi, Juno Online, France Telecom and Demon Interactive. Information about Portal and its products can be found at www.portal.com.

About Battery Ventures
Battery Ventures is an international venture capital firm that invests exclusively in the e-commerce, software and communications industries. The firm's focus and expertise enable it to identify and invest in emerging companies with leading products in exciting markets. With more than $800 million under management, Battery Ventures is one of the leading high tech venture capital firms in the country. The firm is currently investing Battery V, a $400 million fund, as well as the Convergence Fund, a $40 million side fund focused on the converging voice and data telecommunications industries. For more information, please visit www.battery.com.

About Hummer Winblad Venture Partners
Created in 1989, Hummer Winblad Venture Partners (www.humwin.com) was the first venture capital fund to focus exclusively on software. Hummer Winblad’s partners believe that innovative software will increasingly be the core driver of competitive advantage within companies, will underlie valuable services to consumers and corporations, and will change the economics of entire industries.

About Excelergy
Excelergy is the deregulating energy marketplace’s leading provider of Web-based customer information and transaction management technology. From innovative billing software platforms to publishing the retail energy industry’s first XML standards to Offering e-ChoiceNet, an auction site for retail energy procurement, Excelergy is giving energy companies a competitive advantage in the New Energy Economy.* Headquartered in Cambridge, Massachusetts, Excelergy has offices in Atlanta, GA and Santa Monica, CA. More information is available at www.excelergy.com.

*New Energy Economy: Emerging from the nationwide deregulation of the electricity and gas industries, the deregulated retail energy market is estimated to be $300 billion in the U.S. alone by 2005. This energy economy is spawning new technologies, new companies and increased competition for customers who will soon be able to shop online for their gas and electricity. [Central to the New Energy Economy is the critical need for knowledge and information management systems and tools dedicated to deregulation.]

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