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HSB Announces Engineering Service Agreement With Enron

14 February 2000

HSB Announces Engineering Service Agreement With Enron; HSB Engineering Services to Support Enron Energy Services

    HARTFORD, Conn.--Feb. 14, 2000--HSB Group, Inc. announced today an agreement under which HSB will provide engineering services, project management and other technical assistance to Enron Energy Services.
    Enron Energy Services provides commercial and light industrial customers with bundled energy services that increase energy efficiency and lower costs. HSB and its affiliated companies will supply Enron with a range of asset management services, including energy asset due diligence, web-enabled vendor management, maintenance planning and reliability improvement services, and capital equipment replacement assessments.
    "Enron's ability to manage energy and energy asset costs, coupled with HSB's engineering and asset management capabilities, will enable customers to reduce their overall energy and equipment costs to a more predictable level," said Richard H. Booth, president and chief executive officer of HSB. "This agreement illustrates the business potential of integrating HSB's engineering knowledge, databases and other technical resources into comprehensive product offerings."
    Lou Pai, chief executive officer of Enron Energy Services, said, "Enron continues to build on its track record of growth. The proven capabilities of HSB will provide us with an additional platform to scale our delivery capability and to ensure that our customers continue to receive world-class engineering and facility management services. Hartford Steam Boiler's performance databases, its field engineering staff of 1,700 professionals, and the use of HSB's web-based customer care and vendor management system will supplement Enron's nationwide service capabilities."
    HSB Group, Inc. (NYSE-HSB), the parent company of The Hartford Steam Boiler Inspection and Insurance Company, is a global provider of specialty insurance products, engineering services and management consulting. The Hartford Steam Boiler Inspection and Insurance Company was founded in 1866 to provide loss prevention service and insurance to businesses, industries and institutions. For more information about HSB, visit its website at www.hsb.com.

    This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are management's estimates, assumptions and projections and are not guarantees of future performance. Forward-looking statements involve known and unknown risks and uncertainties. These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by the company, may cause the company's actual results and performance to differ materially. Investors and prospective investors should read this news release in conjunction with the company's most recent Form 10-K, Form 10-Q and other documents filed with the Securities and Exchange Commission.