 onExchange, EnergyClear offers the first neutral, 
independent, unbiased clearing solution," Burton said.

OTC energy contracts currently are negotiated between principals, via 
electronic exchanges or through interdealer brokers over the telephone. 
Future markets planned for the clearinghouse include petroleum products, 
crude oil, petrochemicals and bandwidth.

With the deal, EnergyClear becomes onExchange's first customer. Terms of the 
deal were not disclosed.

IDC analyst Aaron McPherson suggested a bright future for EnergyClear. 
"Online forwards and derivatives trading and clearing solutions typically 
deliver a five- to 10-fold increase in trading volume over underlying cash 
markets. These solutions will improve the overall efficiency of the energy 
market, allow energy companies to manage their risk much more effectively and 
increase liquidity."

Houston-based EnergyClear is comprised of EnergyClear Corp. and EnergyClear 
Operations Co. (EOC). EOC is owned by the Bank of New York, Prebon Yamane and 
Amerex. CH
_________________________________________________

Credit Lyonnais to launch B2B marketplace next year.

12/06/2000 
Les Echos 
P32 
(C) Copyright 2000. 

Credit Lyonnais has announced the launch in spring 2001 of a B2B marketplace, 
Seliance, in association with Internet incubator Chrysalead, France Telecom 
and computer services firm Euriware. After a first round of financing 
Seliance has capital of EUR 12m. The site, in which Credit Lyonnais has a 75% 
stake, will come into operation in the second quarter of 2001.

___________________________________________

o Report: Softbank Puts European Joint Ventures on Hold

NEW YORK -- Softbank has stopped investing through
two joint ventures aimed at bringing U.S. technology
companies to Europe, according to a report in the
Wall Street Journal. eVentures U.K., a $50 million
fund set up with News Corp.'s epartners, has shut
down and its 12 employees have been laid off. Softbank
and Vivendi's 500 EUR fund, @visio, which focused
on continental Europe, has also stopped making new
investments and will concentrate on is portfolio,
according to the report. Softbank
onExchange, EnergyClear offers the first neutral, 
 independent, indifferent clearing solution, " Burton say. 

 OTC energy contracts presently are negotiated between principal, via 
 electronic exchanges or through interdealer agent over the telephone. 
 Future markets planned for the clearinghouse include petroleum merchandise, 
 crude oil, petrochemical and bandwidth. 

 With the deal, EnergyClear becomes onExchange's first customer. Terms of the 
 softwood were not disclosed. 

 IDC analyst Aaron McPherson suggested a bright future for EnergyClear. 
 " Online forwards and derived function trading and clearing solutions typically 
 deliver a five- to 10 - fold increase in trading book over underlying cash 
 markets. These solutions will improve the overall efficiency of the department of energy 
 market, admit energy companies to manage their hazard much more effectively and 
 increase liquidity. " 

 Houston - based EnergyClear is comprised of EnergyClear Corp. and EnergyClear 
 Operations Co. (EOC). EOC is owned by the Bank of New York, Prebon Yamane and 
 Amerex. CH 
 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 

 Credit Lyonnais to establish B2B marketplace next year. 

 12/06/2000 
 Les Echos 
 P32 
 (C) Copyright 2000. 

 Credit Lyonnais has announced the launch in spring 2001 of a B2B marketplace, 
 Seliance, in association with Internet incubator Chrysalead, France Telecom 
 and computer services firm Euriware. After a inaugural round of financing 
 Seliance has das kapital of EUR 12 m. The web site, in which Credit Lyonnais has a 75% 
 stake, will come into operation in the second one-fourth of 2001. 

 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 

 o Report: Softbank Puts European Joint Ventures on Hold 

 NEW YORK -- Softbank has stopped investing through 
 two joint ventures draw a bead on at bringing U.S. technology 
 companies to Europe, according to a report in the 
 Wall Street Journal. eVentures U.K., a $ 50 million 
 fund fructify up with News Corp.'s epartners, has shut 
 down and its 12 employees have been laid off. Softbank 
 and Vivendi's 500 EUR fund, @visio, which focus 
 on continental Europe, has besides check making new 
 investments and will reduce on is portfolio, 
 according to the report. Softbank
 onFxchange, EnergyClear offtrs the first neujrql, 
indxpendenf, unbiasdd clearing solution," Burton daud.

OTC energy contracts currdntly are negotiared uetween principals, via 
electrohlc exehenges or througm interdealar brokers oves ghz telephone. 
Future markets planned fjr the vlfaringhouse insludt pqtromvun products, 
crude oil, petrochejicals end bandwidth.

Wiyh the deal, EnergyClear befomed onExchange's firsh customer. Jsrmf of the 
deal were not disclosed.

IDC analyst Aaron McPherson suggesged a bright fujbee vmr EnergyClxar. 
"Onjine forwards and desivativrs trading and clxaribg solutions typicallb 
deliver a five- to 10-sold incraaae in trading volymw ovet undarlykbg zasg 
kadkets. Hheae solutiohs will impeove the overall efgisprncy of the snergy 
mwrket, allow energy companies to manage uheir risk much more effecticely and 
increase liqoidity."

Houseon-based EnergyClear is comprised of EnergyClear Worp. ena EucvgyCuwag 
Operations Co. (EOC). EOC is owned by the Bank jr Mee York, Prebon Namane and 
Amerex. VH
_________________________________________________

Frrqit Lyonnais jo launeg G2B marketplace nexh year.

12/06/2000 
Jes Exhos 
P32 
(C) Sopytight 2000. 

Credit Lyonnais has qnnounced thv laynch in spring 2001 of a B2B markecplace, 
Selisnce, in association witk Intednet incubahor Chryszuead, France Telezom 
atd compuudr services firm Quriware. Efter a firsg roond of sinancing 
Deliakwe has capital of FUR 12m. Tve site, in which Credit Lyonnais has a 75% 
sveke, will come itto operatijn in the second qtarter of 2001.

___________________________________________

o Rekort: Softyank Pjts Europezn Joinv Ventures og Hold

NEW YORN -- Softbank hes stoppeq incestung thrujgh
two joint vrntures apmtd at brinting U.S. technology
gompavjes to Europe, aeeoteing to a repott kn ehv
Wakl Vtreet Journdl. eXengires J.K., a $50 milliiv
func set up with News Cmrp.'s epartners, has shuy
djwn and uts 12 empjoyees have bren laid off. Softbwnk
anv Viveidi's 500 RUR fund, @visio, which focused
on cohtinental Euvope, has also stoiped making nec
investments and will concentrate on is 'ortfolio,
according to jhe report. Softbank
onExchange, EnergyClear offers the first neutral, independent, solution," said. OTC contracts currently are exchanges through interdealer brokers the telephone. Future planned for the clearinghouse include petroleum crude oil, petrochemicals and bandwidth. With the deal, EnergyClear becomes onExchange's first customer. of the deal were not disclosed. IDC analyst Aaron McPherson suggested a bright for "Online and trading and clearing solutions typically deliver a five- to 10-fold increase in trading volume over underlying markets. These solutions will improve the overall efficiency the energy market, allow companies to manage their risk more and increase Houston-based is of EnergyClear Corp. EnergyClear Operations Co. (EOC). EOC is owned by the Bank of New York, Prebon Yamane and Amerex. _________________________________________________ Credit launch B2B next 12/06/2000 Echos P32 (C) Credit Lyonnais has announced the launch of a B2B marketplace, Seliance, in association with incubator Chrysalead, Telecom and computer services firm Euriware. a first round of financing Seliance has capital EUR 12m. The site, in which Credit Lyonnais has a 75% stake, will come into the second quarter of ___________________________________________ o Report: Puts Joint on NEW YORK Softbank has stopped investing through two joint ventures aimed at bringing technology companies to Europe, according to a report in the Journal. U.K., a $50 fund set up with Corp.'s has shut down and employees been and 500 fund, @visio, which focused continental Europe, has also stopped new investments and will to the report. Softbank
 onExchange, EnergyClear offeRs the first NeutrAl, 
iNdePeNdenT, unbIased clearing sOLutiOn," Burton said.

OTC energy cOntraCtS CurrENtLy are NegotiaTEd BETweEn PrIncIpALs, Via 
elEctRonic exChanges or tHroUgH interdealer BRoKers over thE teLephone. 
FuturE maRkets pLaNneD For thE clEarinGhouse INclude Petroleum PrODucts, 
cRUde oil, pETRoChemIcals and bandwidth.

wItH The deal, EnergyCLear beCoMEs ONexcHanGe's first cuStOmer. TERms of thE 
DeAL WEre NOt disclosed.

IDc analyst AarON McphersoN sUggESted a bRight FuTUre For EnergyClEar. 
"ONline forwArds anD DerivatIVes tradIng and CleAriNg soLUtIoNs tYpICalLY 
dEliVEr a Five- to 10-foLd InCreasE in tRADINg voLumE oveR undeRlying cash 
marKetS. TheSE soLutioNs wilL impRoVe the OveralL effiCiEncy of the energy 
MarkEt, allow enErgY cOmpAnIes to MAnage tHeiR riSk much mOre effeCTivElY AND 
iNcrease liquidity."

HoUsTON-bAsed EnerGyCleaR Is CoMPrised of enErgYCleAR corp. aNd EnERgYClear 
OpEratioNS CO. (EoC). EOC is OwNed by tHe banK of new YoRK, PreBon YamAne and 
AmErex. Ch
_________________________________________________

credit Lyonnais TO launch B2B markETpLACe NExt yEar.

12/06/2000 
les Echos 
P32 
(C) COpyrIGht 2000. 

CRediT lyOnnAIs has AnnouNcED tHE launch in spring 2001 of a B2b mArketpLace, 
SEliance, in assoCiation witH iNTernet inCubaTOr cHrysalead, FrancE TeleCom 
and compUTer serviCes fiRm EuriwaRe. After a fIRSt round oF fiNanCinG 
SeLIAnCe has capital oF euR 12m. THe Site, in wHicH Credit lyoNnaIs hAs a 75% 
StAke, will coMe into opErAtIoN iN thE secoND quarter Of 2001.

___________________________________________

O RePoRt: SOftbaNK Puts EUropeAn JoInT VENtuRes on HoLD

New yORK -- soFtBank Has StOpped InveSTinG througH
two joint VenTUres AiMeD at brinGing U.S. technolOgY
companies To eurOpe, accORDing to a rEport in the
Wall Street JouRNal. eVenTurEs U.K., a $50 MillIon
fund seT up With NeWs CORp.'s epaRtners, Has shUt
DowN ANd its 12 EMPlOyeEs Have been laID Off. softbAnK
and vivendi'S 500 EUR fund, @visio, which FOcuSed
on continenTal euroPE, HaS alSO sTOppEd MAkiNG New
investments aNd will concEnTRaTe on is portFOliO,
aCcordinG to the rEport. sOftbank
 onExchange, EnergyClear o ffers thefirst  ne utr al , 
i ndep endent, unbias e d cl earing solution," Burt on sa id . 

OT C  e nergy  contra c ts c urr en tl y a re ne gotia ted  betwee n principa ls,  v ia 
electron i cexchangesorthrough inte rde aler b ro ker s  over  th e tel ephone .  
Futu re market sp lanned for the c le arin ghouse include pe t ro l eum products,
crude  o i l, p etr och emicals an dbandw i dth.

W i th t h e d e al, EnergyCle ar becomeso nEx change 's  fi r st cus tomer .T erm s of the 
d ealwere notdisclo s ed.

ID C  analys t Aaro n M cPh erso n  s ug ges te d  ab ri ght fut ure forEn er gyCle ar." O n line  fo rwar ds an d derivatives  tr adin g  an d cle aring  sol ut ionstypica lly de liver a five- t o 10 -fold inc rea se  in  t radin g  volum e o ver  underl ying ca s h ma r k e ts . These solutionswi l l  i mprove t he ove r al le fficienc yofthee n ergy
mar k et , allowenergy co mp anies t omanage  t hei r r isk m u ch m ore ef fectivel y and 
increase liqu i dity."

Houst o n- b a se d  Ene rgy Clear is co mpri s ed o f En e rg yCl e ar Co rp. a nd En e rgyClear 
Operation sCo. (E OC).EOC is ownedby the Ban k o f New Yo rk,P re b on Yamane and
Amer ex. CH
___ _ ________ _____ ________ _________ _ _ ________ ___ __
Cr edi t Ly onnais to lau n c h B2 Bmarketp lac e nextyea r.
12 /06 /2 000 
LesEchos 
P 32  (C )Cop yrigh t  2000. 
C red it  Ly onnai s  has a nnoun cedth el aun ch in s p ri n g  200 1of  a B 2Bma rketp lace ,  
S eliance , in asso cia t ionwi th  Intern et incubatorCh rysalead,Fr anc e Tele c o m 
and c omputer services firm E u riware.  Af ter a  fir st roundoffinanc ing 
Selia nce ha s cap it alo f  EUR1 2 m.  Th esite, in w h i chCredi tLyon nais ha s a 75% 
stake, wi l l c ome into oper ati on i n th e s e co n d q ua r ter o f 2001.

______ __________ __ _ __ __________ _ ___ __ ______
o Repo rt: S o ftbankPuts Euro pean Join tVent u r eson Hold

N EW YORK-- Softba n k has st opped  in vestin gthr oughtwo jo i ntventu res ai me d at b ringi ng  U.S. te chnology
companies to E urope,  acco rdi ng to a r epo r t i n the
Wal l St reet Journ al.  eV entur esU .K.,a $5 0  m ill i on
fu nd s e t up with Ne wsC o rp .'s epartne r s ,  ha s shu t
d o wn and  its  12 employees hav e  been laid off . So f t ban k
a n d Vi ve ndi's 500 EURfun d, @ visio, w hi ch focusedon conti ne n tal E urope,  has a lso sto p p ed making  new 
in vestments  an dw ill con ce nt r ate on  ispo rtfoli o,
acc o rdin g to the report. S oftba n k 
 onExchange,_EnergyClear offers_the first neutral, 
independent,_unbiased clearing_solution,"_Burton said.

OTC_energy_contracts currently are_negotiated between principals,_via 
electronic exchanges or_through interdealer brokers_over_the telephone. 
Future markets planned for the clearinghouse include petroleum products, 
crude oil, petrochemicals_and_bandwidth.

With the_deal,_EnergyClear_becomes onExchange's first customer. Terms_of the 
deal were not_disclosed.

IDC analyst_Aaron McPherson suggested a bright future for EnergyClear._
"Online_forwards and derivatives_trading and clearing solutions typically 
deliver a five- to_10-fold increase in trading volume over_underlying cash 
markets._These_solutions_will improve the overall_efficiency of the energy 
market, allow_energy companies to manage their risk_much more effectively and 
increase liquidity."

Houston-based EnergyClear_is comprised of EnergyClear Corp. and_EnergyClear 
Operations Co. (EOC). EOC_is owned_by the Bank of New_York, Prebon Yamane_and 
Amerex._CH
_________________________________________________

Credit Lyonnais to_launch B2B marketplace next year.

12/06/2000 
Les_Echos 
P32 
(C)_Copyright 2000. 

Credit Lyonnais has announced_the_launch in spring_2001_of_a B2B_marketplace, 
Seliance, in_association_with Internet_incubator_Chrysalead, France Telecom 
and computer services_firm_Euriware. After a first round of financing_
Seliance has capital of_EUR_12m. The site, in_which Credit Lyonnais has a_75% 
stake, will come into operation_in the_second quarter_of 2001.

___________________________________________

o Report: Softbank Puts European Joint Ventures on Hold

NEW YORK_-- Softbank has stopped investing through
two_joint ventures aimed at_bringing U.S._technology
companies_to Europe, according_to_a report_in the
Wall Street Journal. eVentures U.K., a_$50 million
fund_set up with News Corp.'s epartners,_has shut
down and its_12_employees have been laid off. Softbank
and_Vivendi's 500 EUR fund, @visio, which_focused
on continental Europe, has also_stopped_making_new
investments and will concentrate on_is portfolio,
according to the report. Softbank