PRESS RELEASES 2000 RELEASE
FOR IMMEDIATE RELEASE
July 11, 2000
Contact: Brian Hertzog (415) 267-7205
EDITORS: Please do not use "Pacific Gas and Electric" or "PG&E" when referring to PG&E Corporation or its National Energy Group. The PG&E National Energy Group is not the same company as Pacific Gas and Electric Company, the utility, and is not regulated by the California Public Utilities Commission. Customers of Pacific Gas and Electric Company do not have to buy products or services from the National Energy Group in order to continue to receive quality regulated services from Pacific Gas and Electric Company.

PACIFIC VENTURE CAPITAL LAUNCHES WEBSITE

Web Presence Offers New Avenue for Energy, Telecom Ventures

San Francisco - Pacific Venture Capital, LLC, the venture capital arm of PG&E Corporation (NYSE: PCG), today launched the firm's new website, providing emerging energy and telecommunications companies the opportunity to submit business plans and prospectuses for backing from the new venture capital unit. The site-www.pacificventurecap.com-provides the fastest, most efficient means of contacting Pacific Venture Capital for companies seeking financing, said Bryant Tong, the company's president and CEO.

"We expect a significant portion of our deal flow will come to us via the Internet," said Tong. "Our website now provides businesses and entrepreneurs with a fast, easy way to contact us and provide the information we need from them. Ultimately, our web presence is meant to allow us to screen and respond quickly to a greater number of deals."

In addition to the access and the basic information about the firm, the website also offers recent news about the company, as well as a listing of conferences and other upcoming events at which members of the Pacific Venture Capital team will be available to meet with potential partners.

Pacific Venture Capital was launched as a new unit of PG&E Corporation in June 2000. The company makes strategic investments in next-generation leaders in the energy and telecommunications businesses. It plans to invest up to $100 million in its first year of operation.

"Our objective is to generate new value for PG&E Corporation shareholders by investing in fast-growing, innovative energy and telecommunications companies, and to gain insight into new technologies and business models to impact PG&E Corporation and its business strategy," said Tong.

"Our resources, industry expertise, and Northern California location put us in an excellent position to identify, contribute to, and share in the success of some of the most promising companies in these businesses," he said.

Pacific Venture Capital is a subsidiary of PG&E Corporation. PG&E Corporation, with 1999 operating revenues of almost $21 billion and operations in 21 states, markets energy services and products throughout North America through its National Energy Group. PG&E Corporation's businesses also include Pacific Gas and Electric Company, the Northern and Central California utility that deliver natural gas and electricity to one in every 20 Americans.


 

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