HoustonStreet Selects OptiMark To Enhance How Energy Trades Online

Portsmouth, NH, August 2, 2000 - HoustonStreet Exchange, Inc. today announced a Memorandum of Understanding with exchange solutions provider OptiMark, Inc. to give energy traders the same advanced tools that Wall Street traders enjoy by incorporating OptiMark's enhanced trading platform technology into HoustonStreet.com. OptiMark technology is used in some of the world's most demanding financial trading markets, including the Nasdaq Stock Market and the Pacific Exchange.

HoustonStreet plans to incorporate OptiMark's patented matching engine technology into its gas, power, crude oil and refined products exchanges over time, giving customers enhanced trading opportunities. The OptiMark software allows traders to submit bids and offers based upon various trading desires, including price, size and other attributes. OptiMark also allows for contingent linked trades, meaning that it uses sophisticated algorithms to match buyers and sellers based upon their respective wish lists for products that may be traded in separate markets. HoustonStreet intends to begin providing this enhanced trading tool to energy traders in the first quarter of 2001.

"We are extremely excited to become a part of this dynamic and innovative exchange," stated Jeffrey Max, managing director at OptiMark. "We believe that the HoustonStreet team and their exchanges will emerge as winners in the energy trading industry because of their aggressive focus on the traders and their needs."

HoustonStreet recently announced a Memorandum of Understanding with Enron whereby North American electricity and natural gas prices posted on EnronOnline will automatically be posted on HoustonStreet.com. Through deals such as Enron and OptiMark, HoustonStreet continues to address the two fundamental needs expressed by traders - the need for liquidity, and a better, more efficient way to trade. HoustonStreet has already traded more than $425 million in crude oil since its launch on May 18.

"The online energy marketplace is growing increasingly competitive. It's important to us to find ways to maintain our competitive advantage," stated Frank Getman, president and CEO of HoustonStreet Exchange. "OptiMark will be a significant enhancement to the value-added trading services that we offer energy traders."

About HoustonStreet Exchange, Inc.

Designed by traders for traders, HoustonStreet Exchange represents the first Web portal for the trading of wholesale energy products. HoustonStreet.com provides an online trading engine that allows traders a faster, easier and more efficient means for buying and selling their energy products. HoustonStreet Exchange is headquartered in Portsmouth, New Hampshire with offices in Houston, Texas. HoustonStreet Exchange is a majority-owned subsidiary of BayCorp Holdings, Ltd., (AMEX:MWH). Additional information on the company is available at www.houstonstreet.com

About OptiMark, Inc.

OptiMark, Inc., a privately held company, is a leading provider of exchange solutions to electronic marketplaces and communities globally. OptiMark's broad range of solutions include the simplest browse or auction markets to the most sophisticated exchanges where multiple buyers and sellers trade and negotiate for goods and services, and value is determined by more than price and quantity alone. OptiMark has proven solutions operating in some of the most demanding markets in the world today including the Nasdaq Stock Market for US OTC equities and the Pacific Exchange for US listed equities. OptiMark 's investors include General Atlantic Partners, SOFTBANK, Aon Group, Dow Jones & Company, Goldman Sachs, and Merrill Lynch. OptiMark is headquartered in Jersey City, New Jersey, USA. Additional information on the company is available at www.optimark.com

© 2001-2002 OptiMark, Inc., All Rights Reserved