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February 12, 2009

US Power Generating Company Appoints Chief Executive Officer
Mark R. Sudbey Chairman of the Board

New York, NY, February 11, 2009 — US Power Generating Company (”USPowerGen”), announced today that its Board of Directors has appointed Mark R. Sudbey Chairman of the Board of Directors in addition to his current role as Chief Executive Officer. Mr. Sudbey has been CEO since his appointment in September, 2008, replacing former Chairman and CEO Jacob J. Worenklein. The chairman post and board seat have been vacant since Mr. Worenklein’s departure. Mr. Sudbey joined USPowerGen in December 2005 as Executive Vice President of Finance and Administration. He was named President and Chief Operating Officer in October 2006. Prior to his position with US PowerGen, Mr. Sudbey served as President of the New York, Southeast and Midwest Regions of Reliant Energy, a Houston based provider of electricity and energy services to retail and wholesale customers in the United States. Headquartered in New York City, USPowerGen owns and operates fifty-eight generating units at six facilities with a total capacity of over 5,000 Megawatts, servicing the high demand New York-ISO and ISO-New England deregulated markets.

About USPowerGen
USPowerGen, through its subsidiaries Astoria Generating Company Holdings, L.L.C. and EBG Holdings LLC, owns and operates eight power generation facilities with a total capacity of over 5,000 Megawatts. These subsidiaries sell their energy and capacity into the NYISO and ISO-New England deregulated markets, representing generation sufficient to serve approximately 20% of the overall load in New York City as well as approximately 50% of the overall load in the Boston metropolitan area. More information regarding USPowerGen can also be found at www.uspowergen.com.

Contact:
Ted Babcock, Vice President Finance and Investor Relations
Phone: 212-792-0828
Email: tbabcock@uspowergen.com
or
 Josh Hochberg, Sloane & Company
Phone: 212-446-1892
Email: jhochberg@sloanepr.com