CURRENT Communications Announces $130 Million in Investments in Broadband over Power Line Networks

CURRENT Communications Group, LLC, the leader in broadband overpower line (BPL) networks, announced today $130 million in equityinvestments from new and existing investors to accelerate thedeployment of BPL-enabled "Smart Grid" electric utility networks andalternative broadband communication services.

New strategic equity investors are TXU Corp. (NYSE: TXU), forwhich CURRENT will provide Smart Grid capability over the majority ofTXU Electric Delivery's lines, representing more than two millioncustomers in Texas; General Electric Co. (NYSE:GE); EarthLink, Inc.(NASDAQ: ELNK), which will serve as a retail provider of CURRENT'sbroadband services; and Sensus Metering Systems (Bermuda 1) Ltd., aleader in water, gas and electric utility metering and automaticmeter-reading solutions. Existing equity investors include Duke EnergyCorporation (NYSE: DUK); EnerTech Capital Partners; Goldman, Sachs &Co.; Google Inc. (NASDAQ: GOOG); Hearst Corporation; and LibertyAssociated Partners, LP, an investment partnership between LibertyMedia Corporation (NYSE: L) and the Berkman family.

CURRENT uses BPL technology to create a multipurpose high-speeddata network by placing advanced digital equipment on electricdistribution networks. For the first time, an electric utility canmonitor and control - in real time - the millions of components in theelectric distribution network, improving its reliability, efficiencyand security. The same technology can be used to manage gas and waterdistribution networks, as well as to enable consumers to monitor andcontrol their own electricity usage.

"This technology provides utilities with a more intelligent,real-time and secure power grid that should help conserve energy,reduce electricity disruptions and protect critical infrastructure,"said Alex Urquhart, president and CEO of GE Energy Financial Services."Through our Energy Financial Services and Global Media &Communications businesses, GE's investment in CURRENT furthers ourmission to grow by supporting innovative energy delivery technology."

Approximately $270 billion is spent annually in the United Statesfor electricity, with demand expected to grow 40 percent by 2020. ASmart Grid can reduce energy demand and the need for more powerplants, while improving reliability. The Electric Power ResearchInstitute projects that Smart Grid-enabled distribution could reduceelectrical energy consumption by 5 to 10 percent, carbon dioxideemissions by 13 to 25 percent, and the costs of power-relateddisturbances to business by 87 percent.

In Texas, CURRENT is deploying the first BPL-enabled Smart Gridwith TXU Electric Delivery, a subsidiary of TXU Corp., which willcreate the nation's most advanced electric distribution infrastructureserving more than two million homes and businesses including theDallas-Forth Worth area. A range of "smart" equipment and applications- automated meters, 24/7 power quality monitoring and remote securitycameras - will be installed on the electric distribution network toprovide TXU Electric Delivery with real-time information about powerconsumption, availability and quality, while enhancing securitymonitoring.

In addition to enabling a Smart Grid, the same communicationsnetwork will deliver superior consumer broadband service, including arange of services such as interactive gaming and emerging multimediaapplications. High-performance Internet, voice, and video service willbe available to residential and business subscribers simply byplugging into an ordinary electric outlet.

"With high-speed support for both uploads and downloads and easeof deployment, CURRENT BPL gives us another viable alternative to thebroadband services we now provide," said Garry Betty, EarthLink,president and CEO. "As a leading Internet provider, EarthLink isworking with companies like CURRENT to deliver next-generationbroadband service needed by today's home and business users to betteraccess videos, large batches of pictures and other online content."

"Our deepening partnership with a range of companies, includingour investors, demonstrates just how vital our utility andcommunication solutions are becoming in fueling the growth of thedigital economy," said William H. Berkman, chairman and co-founder ofCURRENT. "These investments recognize that the future lies inproviding a choice to consumers in their use of both electricity andcommunications. CURRENT helps utilities respond to the calls offederal and state regulators to upgrade their infrastructure, whilegiving businesses and consumers control over their electricity usageand access to the next generation of communications services andcontent."

About CURRENT Communications Group

CURRENT Communications Group, LLC, a privately held company basedin Germantown, MD, is the leading provider of integrated utilitysolutions which enable electric distribution companies worldwide todeploy and manage a Smart Grid based on CURRENT's BPL technology.CURRENT's solutions allow consumers to manage their own electricityusage while at the same time allowing the electric utility to monitorand control the network, resulting in reduced costs, increasedreliability and environmental improvements. At the same time, CURRENTis a fully-integrated communications service provider, offeringhigh-performance broadband communications to consumer and businessusers over the existing electric distribution infrastructure. Furtherinformation about CURRENT is available at www.currentgroup.com.
CURRENT Broadband Over Power Line (BPL) Backgrounder:
Enabling the Smart Grid & Differentiated Broadband Services

"Smart Grid" Services

Approximately $270 billion is spent annually in the United Statesfor electricity with demand expected to grow 40 percent by 2020, yetelectric distribution networks have changed very little in the past100 years. Utilities continue to dispatch armies of meter readers totabulate monthly energy consumption from backyards across America.When power goes out, the only way most utilities are aware of thisfact is when customers call, and even then cannot pinpoint where theoutage or outages have occurred. Utilities can only verify that powerhas been restored by having utility crews physically survey the outageareas on an ongoing basis to determine whether the lights have comeback on.

A BPL-enabled Smart Grid changes that. Specifically, it refers tothe application of smart computing (information technology) anddigital communications capabilities overlaid on the electricdistribution network, enabling utilities to have visibility into theirend-to-end networks. The technology turns every point in the existingelectric distribution network into a potential information source,able to instantly feed performance data back to the utility. Simplyput, it provides utilities with the intelligence required to implementreal-time, self-monitoring and ultimately self-healing networks.Additionally, the Smart Grid will evolve so that utilities can empowerend customers to proactively manage and control their energyconsumption based on real-time data. Development of such a capabilityis mandated in some states and urged in the Energy Policy Act of 2005.

BPL-enabled Smart Grid Services from CURRENT improve power flowand reliability, addressing electricity problems before they can growinto brownout and blackout situations, which are estimated to cost theU.S. economy between $119 billion and $188 billion annually.

There also are national security considerations. The U.S.government has identified the electric grid as a potential terroristtarget, and CURRENT(R) Smart Grid Services offer a comprehensiveresponse to the need for greater security of these vital networks.These services can include security elements such as videosurveillance and advanced monitoring capabilities to immediatelydetect malicious attempts to disrupt power service.

CURRENT Smart Grid Services enable utilities to improve theoperation and efficiency of their electric distribution systems withcapabilities such as:

-- Automated outage detection and restoration confirmation

-- Automated meter reading

-- Remote monitoring and operation of switches and transformers

-- Power quality monitoring and management from the substation to the meter

-- Remote capability to connect and disconnect electric service

-- More efficient demand-side management programs to manage peak loads when electrical demand is at its highest

-- Transformer overload detection

-- Preventive maintenance programs based on real-time data, including predictive fault detection

CURRENT(R) BPL technology is deployed on the existing electricdistribution network, using existing wires. CURRENT simply installsits proprietary equipment at local transformers and network points,allowing communication signals to flow like power on the same medium-and low-voltage lines that feed into a user's electrical outlets.Power and communication signals travel at different frequencies andthus do not interfere with one another. The entire network is managedfrom a centralized location.

The Electric Power Research Institute estimates that SmartGrid-enabled electrical distribution systems could reduce electricalenergy consumption by 5 to 10 percent, reduce carbon dioxide emissionsby 13 to 25 percent, reduce the costs of power related disturbances tobusiness by 87 percent and increase productivity by .07 percent peryear, leading to a $3 trillion increase in GDP by 2025.

Broadband Communications

CURRENT BPL technology also enables the delivery of high-speed,two-way broadband communications through electrical outlets in homesand offices, transforming existing electrical wiring into a securebroadband network.

CURRENT Broadband(R) service is channeled into homes through cellphone charger-sized modems that plug into any electrical outlet. ForInternet users, CURRENT Broadband service offers:
-- "Always-on" high-speed Internet access from power outlets
throughout the home or business

-- Upload and download access at the same high speed, well suited
to the ongoing mass market adoption of photo and video sharing
services, interactive gaming and online storage services

-- Symmetrical connection of up to 10 Mbps in TXU deployment

-- Voice over Internet Protocol (VoIP) capability for lower-cost
telephony services over the broadband network

-- Local area networking from all power outlets in each premise
over existing electrical wiring without any additional wiring
or equipment

-- Faster speeds at a lower monthly cost than other broadband
services

-- Multiple speeds and pricing plans to meet individual needs and
budgets

-- "Plug-and-play" installation for service activation in minutes
without the need for a router or installation CD