Distributed Generation Agreement for Major New York City Office Building

NORWALK, CONN - (BUSINESS WIRE) – June 1, 2005 – Jack Resnick & Sons, Inc. and OfficePower, L.L.C. announce the completion of a long-term lease and services agreement for OfficePower to install, own and operate a 720 kW distributed generation plant at 110 East 59th Street in Midtown Manhattan. This on-site power and cogeneration plant will use state-of-the-art, environmentally friendly, micro-turbines and cogeneration equipment that will provide a substantial portion of the building’s ongoing power and thermal load requirements. As with all OfficePower installations, this system will operate both in parallel with Con Edison’s distribution network and independent of it during grid outages.

“With concerns regarding the grid’s reliability continuing to rise, this plant will allow us to offer our tenants increased power availability to meet their growing demands,” stated Steve Rotter, Executive Managing Director of Resnick.

“This plant will provide continuous, reliable power and thermal energy that will allow Resnick to upgrade the quality of its building while helping to reduce peak load requirements on a distribution network that is already stretched to capacity and significantly decreasing the city’s harmful emissions caused by locally based central power plants,” said Bob Jannino, President of OfficePower.

“Faced with an extremely competitive leasing market, forward looking and socially conscious, office building owners like Resnick are beginning to recognize the amenity value of on-site generation and cogeneration in attracting and retaining high quality tenants,” noted David Schaiman, a noted New York real estate executive.

Owned and managed by Resnick, 110 East 59th Street is a 37 story, 575,000 square foot, first class office building. Conveniently located at Park Avenue between 58th and 59th Streets, the building is steps away from some of the finest hotels, shops and restaurants in Midtown. The building has state-of-the-art life safety and communications systems, a 24-hour attended lobby that features a digital closed-circuit TV security system and a wide range of other tenant amenities. The building’s major tenants include such notable companies as Cantor Fitzgerald, Estée Lauder, Clarins Groupe USA, IMAX Corporation, Four Seasons Hotels, and the Southern Union Company.

Jack Resnick & Sons, Inc. is a privately held owner, builder and manager of first class office buildings located in Midtown and Downtown Manhattan. The company’s portfolio currently includes more than five million square feet of commercial space. In addition, the company has developed thousands of luxury residences throughout The City and continues to own, manage and lease more than 1,500 no-fee apartments. Its current activities include the construction of a 258-unit luxury condominium residence at 200 Chambers Street in Tribeca For additional information on the company and its properties, please visit its web site at www.resnicknyc.com.

OfficePower, L.L.C. is a leading provider of on-site power and cogeneration services to multi-tenant office buildings. Headquartered in Norwalk, CONN, the company owns, installs and manages distributed generation plants that provide low emission, high quality, reliable electricity and heating and cooling to both downtown and suburban office properties at no capital cost to building owners. For additional information on OfficePower, L.L.C., please visit OfficePower’s web site at www.officepowerllc.com.

EDITOR’S NOTE: Interviews with Joel R. Wilson, CEO, and Robert W. Jannino, President, are available.

Contacts:

OfficePower, L.L.C.
Joel R. Wilson, CEO
203-852-0620 Ext 107
jrw@officepowerllc.com

Robert W. Jannino, President
203-852-0620 Ext 109
rwj@officepowerllc.com

Juliette Weiland & Co. Public Relations
Juliette Weiland
203-834-1359
jweiland@optonline.net