SOURCE: Barclays Capital

April 16, 2008 09:11 ET

Barclays Capital Acquires Assets of PowerLytix, LLC

NEW YORK, NY--(Marketwire - April 16, 2008) - Barclays Capital, the investment banking division of Barclays Bank PLC, announced today that it has acquired the assets of PowerLytix, LLC, a provider of fundamental market data analysis for the US electricity and natural gas markets. Barclays Capital plans to integrate and leverage PowerLytix's advanced tools into its existing global commodities business.

Since 2001 PowerLytix, LLC has been providing wholesale energy forecasts, market commentary and data aggregation services to its customers in North America. On a daily basis, PowerLytix aggregates, models and simulates hundreds of gigabytes of electricity and natural gas data from distributed sources to provide information based views on market relationships & behaviors.

This acquisition will enable Barclays Capital to strengthen its abilities in generating first class analysis of fundamental market behaviors. Barclays plans to invest in extending the analytical tools and broad delivery capabilities of the platform. The founders of PowerLytix, LLC, Mike Griswold and Jason Gu, will join Barclays Capital as Directors in the US Commodities group to take a lead in the enhancement of US electricity and natural gas analysis capabilities.

"I am pleased to add such an experienced team to the Barclays Capital Commodities group," said Scott Connelly, Managing Director and Head of US Electricity Trading at Barclays Capital. "Access to the skill-sets represented in the PowerLytix team will add significantly to our analytical capabilities and allow us to be better poised to provide first-class service to our clients."

About Barclays Capital

Barclays Capital is the investment banking division of Barclays Bank PLC which has an AA long-term credit rating and a balance sheet of over £1.2 trillion (US$2.4 trillion*). With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with solutions to their financing and risk management needs. Barclays Capital has offices in 29 countries, employs over 16,200 people and has the global reach and distribution power to meet the needs of issuers and investors worldwide.

For further information about Barclays Capital, please visit our website

*US$ figure was derived using the US$/£ exchange rate at 12.31.07 of US$2.00/£1

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