HoustonStreet's New CFO

[Donna Bungard <dbungard@beaupre.com>]

Contact:	Deb Dargie 					Kim Salem
		Beaupre & Co. Public Relations Inc.
HoustonStreet Exchange
		(603) 559-5826				(603) 766-8703
		ddargie@beaupre.com
ksalem@houstonstreet.com

HoustonStreet Exchange hires 15-year financial industry 
veteran Howard Smith as CFO

Smith to prepare Web-based energy exchange company for growth, secure
private equity investments and manage financial operations for strategic
alliances

PORTSMOUTH, NH, July 28, 2000 - Investment banking veteran Howard Smith has
joined HoustonStreet Exchange as its chief financial officer (CFO), the
company announced today. Smith will direct HoustonStreet's financial
operations, including securing and managing private equity investments. 

Smith brings more than 15 years of investment banking, corporate finance,
public accounting and management experience to HoustonStreet. His experience
closing complex business transactions and initial public offerings will help
HoustonStreet executives plan for future growth. As CFO, Smith will also
work closely on the financial details of future strategic alliances and
joint ventures as the company extends its energy trading platform,
HoustonStreet.com, into new foreign and domestic markets. 

Smith comes to HoustonStreet from Copyright Clearance Center, a Mass.-based
clearinghouse for managing, licensing and distributing secondary-use
copyrights for text and photographic media over the Web. He served as the
company's vice president of finance, CFO and head of business development.
In the latter role, he managed the company's capital raising efforts,
directed all finance and accounting staff operations and secured business
development and partnership opportunities. Prior to Copyright Clearance
Center, Smith managed numerous merger and acquisition and private equity
transactions across multiple industry sectors as director of mergers and
acquisitions at Fleet Corporate Finance/Bank Boston- Robertson Stephens. 

Smith honed his investment banking and corporate finance advisory skills in
a variety of management positions at Coopers & Lybrand L.L.P. Baldwin &
Clarke Corporate Finance Inc., 
Dean Witter's Reynolds Capital Markets Inc., Touche Ross & Company and Booz,
Allen & Hamilton Inc.

"Howard's extensive Wall Street, investment banking and transaction-closing
experience will help us grow the company," said Getman. "With the management
team we now have in place, HoustonStreet will continue striving to become
'how energy companies do business.'"  

Smith earned a master's degree in public administration at George Washington
University where he was a Scottish-Rite Foundation Scholar, and a bachelor's
degree in economics and political science at the College of William and
Mary.
 
About HoustonStreet Exchange

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 to buy and sell their energy products faster, more
efficiently and more easily than 
in the past. 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). For more
information, visit HoustonStreet at www.houstonstreet.com.

# # #


This press release contains forward-looking statements. There are a number
of important factors that could cause these forward-looking statements to be
materially inaccurate. These factors include, without limitation, that (i)
energy traders may be unwilling or unable to use Internet-based energy
trading systems, including HoustonStreet.com, (ii) HoustonStreet.com may not
be able to operate profitably, (iii) technological or systems outages could
occur, (iv) competitors with greater financial, marketing or other resources
could emerge, (v) performance is contingent upon successful completion of
design and implementation of the crude, refined products and natural gas
sites, and (vi) market acceptance of HoustonStreet.com cannot be predicted.
HoustonStreet.com is a registered service mark of HoustonStreet Exchange.

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