Siemens Financial Services, Inc. Joins Roster of Longview Power Plant Financial Backers

GREENWICH, Conn. and ISELIN, N.J., Feb. 2
CT-Siemens-Longview

Multi-Billion Dollar Energy Infrastructure Project

GREENWICH, Conn. and ISELIN, N.J., Feb. 2 /PRNewswire/ -- First
Reserve Corporation ("First Reserve") and Siemens Financial
Services, Inc. announced today the execution of definitive agreements for
the sale of a 10.75% equity interest and pro-rata funding obligation in
Longview Intermediate Holdings B, LLC ("Holdings") to Siemens
Financial Services, Inc. ("SFS"). Holdings is an indirect
parent of the Longview Power project ("Longview"), a
supercritical, pulverized coal-fired generating facility currently under
construction in West Virginia. Closing is subject to Federal Energy
Regulatory Commission approval and is expected within 60 days. Terms of
the investment were not disclosed.

"SFS' investment in the facility highlights the significant market
opportunity that both partners see in the project as well as Siemens'
confidence as a leading member of the construction consortium in the
timely and successful completion of the project.  We are delighted
to have them as partners in this project," said Mark McComiskey,
Managing Director at First Reserve Corporation.

Johannes Schmidt, CEO Equity & Project Finance at SFS added,
"Longview Power is an excellent opportunity for us to comply with
our mission: To invest in new highly efficient and thus environmentally
friendly energy projects. We value First Reserve Corporation as one of
the world's leading energy-focused investors. Together we will implement
the most efficient energy project in its class."

The Longview plant, located in Maidsville, West Virginia, broke ground in
the second quarter of 2007 and expects to begin commercial operation in
early 2011. The project is being constructed by a consortium of Siemens
Power Generation, Inc. and Aker Kvaerner Songer, Inc. Foster Wheeler
North America Corp. is supplying the supercritical boiler to the
project.  

About GenPower Holdings, L.P.

GenPower, LLC and First Reserve, a leading global private equity
firm, formed GenPower Holdings, L.P. in October 2006 to pursue the
development, ownership, acquisition and operation of power generation
facilities in the United States and abroad. Longview Power is the first
major investment by the joint venture. For more information on GenPower
Holdings, L.P. and Longview Power, LLC, please visit our website at
www.genpower.net. 

About First Reserve

First Reserve is the world's leading private equity firm in the
energy industry. For more than 25 years, it has invested solely in the
global energy industry, and has developed an unparalleled franchise,
utilizing its broad base of specialized energy industry knowledge as a
competitive advantage. First Reserve invests strategically across a wide
range of energy industry sectors, developing a portfolio that is
diversified across the energy value chain, backing talented management
teams and building value by building companies. Further information is
available at
www.firstreserve.com

About Siemens Financial Services (SFS)

Siemens Financial Services (SFS) is an international provider of
financial solutions in the business-to-business area. With about 1,900
employees and an international network of financial companies coordinated
by Siemens Financial Services GmbH, Munich, we support Siemens as well as
non-affiliated companies, focusing on the three sectors of energy,
industry and healthcare. We finance infrastructure, equipment and working
capital and act as a competent manager of financial risks within Siemens.
By leveraging our financing expertise and our industrial know-how we
create value for our customers and help them strengthen their
competitiveness. For more information see:
www.siemens.com/finance.

Siemens Financial Services, Inc. (SFS Inc.) is a leading provider of
business-to-business financial services in the United States. SFS is a
committed business ally that combines deep industry expertise with
integrated financing solutions to enhance the efficiency, productivity,
and competitiveness of its customers. The company, based in Iselin, NJ,
enables business expansion for thousands of customers in the healthcare,
energy, and industrial sectors by providing customized solutions that
range from equipment financing and working capital to project and export
finance, and insurance solutions. Further information on Siemens
Financial Services in the United States:

www.usa.siemens.com/financial

About Siemens

Siemens AG (NYSE: SI) is a global powerhouse in electronics and
electrical engineering, and operates in the industry, energy and
healthcare sectors.  For more than 160 years, Siemens has built a
reputation for leading-edge innovation and the quality of its products,
services and solutions.  With 428,000 employees in 190 countries,
Siemens reported worldwide sales of $116.6 billion in fiscal 2008. 
With its U.S. corporate headquarters in New York City, Siemens in the USA
reported sales of $22.4 billion and employs approximately 69,000 people
throughout all 50 states and Puerto Rico.  For more information on
Siemens in the United States, visit
www.usa.siemens.com 

Siemens CONTACT: Sonja Ernst
(732) 590-6603
sonja.ernst@siemens.com

First Reserve Corporation CONTACT: Caroline Harris
(212) 279-3115 ext. 222
charris@cjpcom.com