1. ©2004 InfoNetrix LLC All Rights Reserved Worldwide 5-1 PART FIVE Supplier Environment Market Horizons™ Report Geospatial & Field Automation Solutions (GFAS) in the North American Utilities Marketplace (2003-2007)

2. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-2 About This Report InfoNetrix LLC, an independent technical research and consulting firm specialized in utility automation and information technology (Utility Automation/IT) markets conducted the research for this report. InfoNetrix reports are available for subscription by any and all interested parties, foreign and domestic (except as prohibited by law), in accordance with the pricing and terms set forth in the prospectus, provided separately. This report addresses Geospatial & Field Automation Solutions (GFAS) in the North American Utilities Marketplace. Other reports in the Market Horizons™ Series provide similar analyses of Real-time Automation & Controls (RTAC) in the North American Electric Utilities Marketplace and Real-time Automation & Controls (RTAC) in the North American Water/Wastewater Utilities Marketplace. Please visit www.InfoNetrix.com for more information about these and other InfoNetrix Advisory Services.www.InfoNetrix.com InfoNetrix LLC, an independent technical research and consulting firm specialized in utility automation and information technology (Utility Automation/IT) markets conducted the research for this report. InfoNetrix reports are available for subscription by any and all interested parties, foreign and domestic (except as prohibited by law), in accordance with the pricing and terms set forth in the prospectus, provided separately. This report addresses Geospatial & Field Automation Solutions (GFAS) in the North American Utilities Marketplace. Other reports in the Market Horizons™ Series provide similar analyses of Real-time Automation & Controls (RTAC) in the North American Electric Utilities Marketplace and Real-time Automation & Controls (RTAC) in the North American Water/Wastewater Utilities Marketplace. Please visit www.InfoNetrix.com for more information about these and other InfoNetrix Advisory Services.www.InfoNetrix.com

3. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-3 General Information & Notifications PURPOSE The information contained in this document is for the sole use of InfoNetrix clients and is not to be distributed outside client organizations. No part of this publication may be reproduced, transcribed, or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any electronic storage and retrieval system, without permission in writing from the copyright owner. DISCLAIMER This publication has been prepared with care, however, no guarantee of accuracy, completeness, or warranty of any kind is expressed or implied, nor shall InfoNetrix be liable to any user of the publication or any portion(s) hereof for any direct or indirect damages, expenses, costs or losses of any kind resulting from its use. COUNTRY OF ORIGIN United States of America PURPOSE The information contained in this document is for the sole use of InfoNetrix clients and is not to be distributed outside client organizations. No part of this publication may be reproduced, transcribed, or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any electronic storage and retrieval system, without permission in writing from the copyright owner. DISCLAIMER This publication has been prepared with care, however, no guarantee of accuracy, completeness, or warranty of any kind is expressed or implied, nor shall InfoNetrix be liable to any user of the publication or any portion(s) hereof for any direct or indirect damages, expenses, costs or losses of any kind resulting from its use. COUNTRY OF ORIGIN United States of America

4. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-4 Research Standards & Methodology The preparation of this report follows generally accepted standards of market research practice and is based on principles of truthfulness and professionalism. A reasonable and prudent effort has been made to ensure that factors and circumstances having a material impact on any decision-making process derived from, or impacted by, this report are included in the analyses and recommendations. The representations of industry and market data and portrayals of the business environment are based on market research conducted by experienced professionals with broad knowledge and experience in the markets addressed. The information upon which the findings and analyses contained in this report are based was obtained through a combination of telephone interviews with key suppliers and consultants and other individuals with extensive market knowledge and experience, augmented by survey with a cross section of utility managers and ongoing interactive research with over 1,000 utilities annually. Each telephone interview/survey was guided by a specially designed questionnaire to obtain pertinent data, insights and market perspectives. These interviews were augmented by secondary research across a wide range of reliable public and proprietary information sources pertinent to the study. The preparation of this report follows generally accepted standards of market research practice and is based on principles of truthfulness and professionalism. A reasonable and prudent effort has been made to ensure that factors and circumstances having a material impact on any decision-making process derived from, or impacted by, this report are included in the analyses and recommendations. The representations of industry and market data and portrayals of the business environment are based on market research conducted by experienced professionals with broad knowledge and experience in the markets addressed. The information upon which the findings and analyses contained in this report are based was obtained through a combination of telephone interviews with key suppliers and consultants and other individuals with extensive market knowledge and experience, augmented by survey with a cross section of utility managers and ongoing interactive research with over 1,000 utilities annually. Each telephone interview/survey was guided by a specially designed questionnaire to obtain pertinent data, insights and market perspectives. These interviews were augmented by secondary research across a wide range of reliable public and proprietary information sources pertinent to the study.

5. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-5 Research Reliability & Acceptance The information presented in this report was gathered, recorded and analyzed with care and precision. However, there will undoubtedly be differences between the findings presented and actual results for various reasons and, because future events and circumstances frequently do not occur as expected, those differences may be material. For these and other reasons (including, but not necessarily limited to human error, misinterpretations, misunderstandings and information sensitivities among respondents), the resulting data will most likely not be completely accurate in all respects. Moreover, the forecasts presented herein reflect judgments made as of the period during which this report was prepared. As such, some aspects can be expected to change as a result of numerous direct and indirect factors, which are beyond the scope of this report to accurately predict. For example, it assumes that current events will continue to have the same effect on the marketplace in the future and that the conventional wisdom of today will continue to be completely applicable to future market conditions, which is at best, unlikely. By accepting and using the information contained in this report, the user assumes all responsibility for its use for any and all purposes as user may deem appropriate and agrees to hold InfoNetrix, its principals and its staff harmless from any direct, indirect or consequential damages resulting from, or in any way related to, such use(s). However, InfoNetrix actively solicits and welcomes inquiries or other input regarding any errors, omissions or inconsistencies discovered during the course of using this report. Please direct any such correspondence to InfoNetrix Client Services. (Detailed company contact information is provided on the web at: www.InfoNetrix.com.) The information presented in this report was gathered, recorded and analyzed with care and precision. However, there will undoubtedly be differences between the findings presented and actual results for various reasons and, because future events and circumstances frequently do not occur as expected, those differences may be material. For these and other reasons (including, but not necessarily limited to human error, misinterpretations, misunderstandings and information sensitivities among respondents), the resulting data will most likely not be completely accurate in all respects. Moreover, the forecasts presented herein reflect judgments made as of the period during which this report was prepared. As such, some aspects can be expected to change as a result of numerous direct and indirect factors, which are beyond the scope of this report to accurately predict. For example, it assumes that current events will continue to have the same effect on the marketplace in the future and that the conventional wisdom of today will continue to be completely applicable to future market conditions, which is at best, unlikely. By accepting and using the information contained in this report, the user assumes all responsibility for its use for any and all purposes as user may deem appropriate and agrees to hold InfoNetrix, its principals and its staff harmless from any direct, indirect or consequential damages resulting from, or in any way related to, such use(s). However, InfoNetrix actively solicits and welcomes inquiries or other input regarding any errors, omissions or inconsistencies discovered during the course of using this report. Please direct any such correspondence to InfoNetrix Client Services. (Detailed company contact information is provided on the web at: www.InfoNetrix.com.)

6. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-6 Market Horizons™ Report Contents 1.Executive Market Summary 2.Marketplace Characteristics 3.Market Drivers, Issues & Trends 4.Market Analysis & Future Outlook 5.Supplier Environment

7. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-7 GFAS Supplier Environment Supplier Groups & Characteristics Supplier Leadership Qualities Principal GFAS Suppliers Top Suppliers by Category Supplier Dynamics Competitive Threats & Vulnerabilities

8. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-8 Supplier Groups & Characteristics There are 3 main types GFAS suppliers: 1.Geospatial Systems - 1.Geospatial Systems - Suppliers of traditional Automated Mapping, Facilities Management and Geographic Information Systems (AM/FM/GIS) 2.Technical & Integration Services (TIS) - 2.Technical & Integration Services (TIS) - Suppliers of conventional Engineering Consulting; Conversion Services; and System Integration Services (Some or all) 3.Field Automation Solutions (FAS) - 3.Field Automation Solutions (FAS) - Suppliers of Outage Management Systems (OMS); Work Management Systems (WMS); Workforce Management (WFM) systems; & Mobile Computing Solutions GFAS Supplier Group Characteristics  Geospatial suppliers are relatively few & stable  TIS suppliers are consolidating & redefining market roles  FAS suppliers are diverse and rapidly expanding

9. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-9 Supplier Leadership Qualities 1.Market Tenure, Stability & Reputation Frequent and consistent market participation Sound financially and organizationally qualified Widely respected by customers; suppliers; other participants 2.Product Suitability & Performance Addresses current and emerging market needs & applications Meets/exceeds required performance specifications Compliance with contemporary performance standards 3.Geographical/Market Presence Broad availability of company/product information Easy access to information, staff & other resources 4.Propriety of Business Practices Compliance with competitive and general business ethics Follows, engages in and develops industry best practices

10. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-10 Supplier Leadership Qualities (Cont’d) 5.Technological Insights & Direction Innovative solutions to technical challenges Sets the pace for advancing state-of-the-art Participates in and makes tangible technological contributions to: Professional Associations Conferences, Exhibitions & Symposia Local/Regional/National/International Standards Organizations/Forums 6.Financial Performance Factors Maintains a significant and consistent share of target markets Historical record of increased sales and profits Market Leadership is not measured exclusively by sales and market shares; it is a combination of these and other factors!

11. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-11 GFAS SUPPLIER Geospatial (AM/FM/GIS) Systems Technical & Integration Services Field Automation Solutions Advantica Stoner Apex Geospatial ASI AutoDesk Avineon Axiom/Mobility CGI/Cognicase  Enspiria Solutions ESRI  GE Network Solutions  Hitachi  Intergraph  = Dominant Area  = Participation Area Principal GFAS Suppliers by Market Segment Emphasis

12. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-12 GFAS SUPPLIER Geospatial (AM/FM/GIS) Systems Technical & Integration Services Field Automation Solutions Itron (Including eMobile & LineSoft)  JCMB  KEMA LogicaCMG  MapFrame MDSI Michael Baker Miner & Miner MJ Harden Origin Systems (formerly part of PDA) Panasonic PDA-Power Delivery Associates = Dominant Area  = Participation Area Principal GFAS Suppliers (Cont’d) by Market Segment Emphasis

13. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-13 GFAS SUPPLIER Geospatial (AM/FM/GIS) Systems Technical & Integration Services Field Automation Solutions Red Planet Consulting Rolta Sanborn Southeastern Reprographics Inc (SRI) Syntegra  Tensing SKS UAI  ViryaNet Walkabout Computers Woolpert  Xplore Technologies = Dominant Area  = Participation Area Principal GFAS Suppliers (Cont’d) by Market Segment Emphasis

14. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-14 Principal TIS Suppliers by Vertical Market Presence SUPPLIER NAME* (*Not necessarily a complete listing) ELECTRIC UTILITY WATER/WASTE- WATER UTILITY GAS UTILITY Advantica  CES International  CGI-Cognicase  Enspiria Solutions  ESRI (Primarily via an extensive partner network) KEMA  LogicaCMG Power Engineers  Rolta  Syntegra  PLUS: Numerous large IT outsourcing firms such as Accenture, Cap-Gemini, SAP, etc.     in all utility market sectors.) = Dominant Participation  = Regular Participation

15. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-15 Top AM/FM/GIS Suppliers (65-75% of AM/FM/GIS Segment)  Autodesk  ESRI  GE Energy  Intergraph Top TIS Suppliers (40-50% of TIS Segment)  ASI-Analytical Surveys Inc  Avineon  Enspiria Solutions (Osmose)  ESRI (via partners)  KEMA  Rolta Top FAS Suppliers (60-70% of TIS Segment)  Axiom/Mobility  CES International  CGI  GE Energy  Intergraph  LogicaCMG  MDSI Top Suppliers by Category (AM/FM/GIS, TIS & FAS)

16. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-16 Top TIS Suppliers (Combined Top Supplier Shares)  Engineering Services (40-50% of Segment) ASI-Analytical Surveys Inc. ESRI (via partners) Enspiria Solutions KEMA  Conversion Services (40-50% of Segment) ASI-Analytical Surveys Inc. Avineon ESRI (via partners) Rolta  System Integration Services (35-40% of Segment) CGI ESRI (via partners) GE Energy KEMA Top Suppliers by Category Technical & Integration Services ( TIS)

17. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-17 Top FAS Suppliers (Combined Top Supplier Shares)  Outage Management Systems (50-60% of Market) CES International CGI GE Energy Intergraph Milsoft  Work Management Systems/WFM (50-60% of Market) CGI LogicaCMG Worksuite Viryanet  Mobile Computing Solutions (55-65% of Market) Axiom/Mobility Intergraph MDSI Viryanet Top Suppliers by Category Field Automation Solutions ( FAS)

18. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-18 Geospatial Systems Market Shares Small Utilities Market (≤100,000 Customers) AM/FM/GIS Supplier Shares (Based on 2003 Market Values)

19. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-19 AM/FM/GIS Supplier Market Shares (Based on Legacy Installations in 2003) Geospatial Systems Market Shares Small Utilities Market (≤100,000 Customers)

20. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-20 2003 AM/FM/GIS Supplier Market Shares (based on Total Market Value) Geospatial Systems Market Shares Large Utilities Market (100,000+ Customers)

21. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-21 Geospatial Systems Market Shares Large Utilities Market (100,000+ Customers) AM/FM/GIS Supplier Market Shares (Based on Legacy Installations in 2003)

22. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-22 OMS/WMS/WFM Project Mix in 2003 (WMS includes Workforce Management component, where applicable) Based on 195 Systems Planned by Utilities Surveyed in 2003

23. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-23 Supplier Dynamics AM/FM/GIS Systems General Outlook for AM/FM/GIS Suppliers  Autodesk Likely to maintain leadership role among small- to medium-sized utilities with well established AutoCAD base Strong foundation & reputation for design/planning tools  ESRI Continued strengthening of market position helped by relatively weak competitive response from other established GFAS suppliers  GE Energy (formerly GE Network Reliability Solutions) Created by internal merger of former Substation Automation Solutions and Network Solutions divisions, PLUS elements of GE Industrial Systems division (2004) Internal consolidation/reorganization process still under way Increased focus on holistic solutions across T&D spectrum  Intergraph Recent internal reorganizations have hurt utility market focus Highly regarded and respected by traditional customers Positioned to capitalize on integration of OMS/WMS/WFM

24. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-24 General Outlook for TIS Suppliers  Engineering Services Suppliers: Diminishing requirements for conventional engineering services (e.g., specification & bid preparation, documentation, etc.) Established firms aggressively seeking alternative revenue streams and offering engineering bundled with conversion and/or system integration services  Conversion Services: Ongoing decline of long-term conversion projects among large utilities (mainly IOUs) has drastically reduced - and will continue to diminish - size & number of conversion suppliers Conversion outlook is for modest projects at small- to medium- sized utilities (mainly MUNIs & RECs) IOU projects will offer mainly incremental work; few large projects Most conversion services will be bundled with other TIS work Supplier Dynamics (Cont’d) Technical & Integration Services ( TIS)…

25. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-25 TIS Supplier Outlook  CES International Focused mainly on top 100 utilities with Operations Resource Management (ORM) perspective intended to bring together all operational elements under a common integration platform Strong sales of several large, complex project wins in prior years have created delivery problems & commanding resources  CGI/M3i Ongoing recovery from business declines in 2002-2003 and transfer of ownership to Cognicase resulting in final transition to CGI  Enspiria Solutions New subsidiary of Osmose created from vestiges and selected staff of former Convergent Group, the latter shut down in late 2003 by SchlumbergerSEMA Supplier Dynamics (Cont’d) Technical & Integration Services ( TIS)…

26. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-26 TIS Supplier Outlook…  KEMA Completing transition from traditional engineering firm to full service TIS supplier, aided by acquisition of Geo/IT (Denver)  LogicaCMG Strong WMS product and OMS/WMS integration services capabilities temporarily set back by Logica-CMG merger; expect recovery and market advancements going forward  Syntegra Diminished role in GFAS Supplier Dynamics (Cont’d) Technical & Integration Services ( TIS)…

27. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-27 Timing (MM/YY) Or (Year) Company A (HQ Country) Company B (HQ Country) Transaction Details 10/02eMobile Data (USA)Itron (USA)Itron acquires eMobile Data for $6.2 million 12/02CMG (UK)Logica (UK)Logica merges with CMG, forming LogicaCMG 12/02Cognicase (Canada)CGI (Canada)CGI acquires Cognicase, owners of M3i & Cyme 02/03KEMA Consulting (Netherlands) KEMA Inc (Netherlands)KEMA Consulting reorganizes to form KEMA Inc 09/03Convergent Group (USA)SchlumbergerSema (France) SchlumbergerSema shuts down most of Convergent Group 09/03SchlumbergerSema (France) Atos Origin (France)Schlumberger spins off SEMA unit to France’s Atos Origin ($1.45B) 10/03Convergent Group (USA) SchlumbergerSema Subsidiary (France) Osmose (USA)Osmose forms Enspiria Solutions from former Convergent Group 01/04GE Power Systems (USA)GE Energy (USA)GE realigns former Substation Automation Solutions & Network Reliability Services units under newly created GE-Energy Division Supplier Dynamics (Cont’d) Key Mergers/Acquisitions/Divestitures

28. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-28 SchlumbergerSemaSchlumbergerSema (France) reverts to Convergent Group name in 2002 following lackluster success as Schlumberger Convergent GroupConvergent Group (Englewood, CO) closed by Schlumberger in 2003; resulting in… Enspiria SolutionsOsmose Inc. Convergent GroupEnspiria Solutions formed by Osmose Inc. (Buffalo, NY) from core group of former Convergent Group staff (October 2003) General ElectricGE Energy GE-Power SystemsGE-Industrial SystemsGeneral Electric forms GE Energy (2004); continues integration of numerous acquisitions and internal business realignments including former GE-Power Systems and GE-Industrial Systems LeT SystemsLeT Systems (Ireland) enters North American market but so far has fallen short in expanding its FAS market presence 4DataLink4DataLink enters North American market with integrated, low- cost, out-of-the-box enterprise solution for municipalities Supplier Dynamics (Cont’d) Ups & Downs

29. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-29 Competitive Threats & Vulnerabilities Consolidation & New Entrants Consolidation  No mergers expected among top AM/FM/GIS suppliers, but potential for acquisitions by large IT companies possible  Ongoing consolidation and redefinition among TIS suppliers as conversion declines but demand for outsourced technical and integration services grows among utilities with 100,000 or more customers  Some consolidation of FAS suppliers expected via product acquisitions and/or partnering (especially with larger AM/FM/GIS or other complementary FAS participants) as well as conventional M&A activity at all levels  All of these factors will be accelerated by utilities seeking more comprehensive (holistic) solution sets coupled with tangible benefits; a rapid ROI and a reduced supplier count

30. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-30 Competitive Threats & Vulnerabilities Consolidation & New Entrants (Cont’d) New Entrants  Global:  Global: Expect new entrants from outside North America Activity slowed in 2002-2003 due to weak market and poor regional economic conditions; recovery brings renewed interest Weak US dollar creating lucrative takeover scenarios Global markets leaders (e.g., providers of PDAs, GPS units, tablet PCs, etc.and associated software/services) are becoming increasingly aware of GFAS as a target market  Others:  Others: Expect new entrants from other market areas New regulatory and legislative compliance mandates will strain ability of smaller suppliers to meet market requirements, driving consolidation and potentially significant M&A activity GFAS will become much more closely related to IT and especially Asset Management on business, technological and organizational levels, creating opportunities for new entrants from other market areas

31. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-31 Market Forces:Market Forces:  Outsourcing:  Outsourcing: User demand for more holistic product/service sets will drive outsourcing on multiple levels Engineering - Internal organizations have been decimated Integration - Talent pools and head counts are at lowest levels Support - Demand is mainly for no-/low-maintenance products  Market Mandates:  Market Mandates: Utilities will likely look to stable, vertically integrated suppliers to meet rigorous new IT mandates including: GASB 34 and Sarbanes-Oxley –GASB 34 is biggest change ever in Municipal accounting practices and procedures –SOX has similar impact on publicly-traded companies –Both demand more efficient, more reliable recording tools NERC-1200 Security Mandate –Many/most utilities are ill-equipped to understand and fully comply with short-term and (especially) long-term implications. –Extensive outside help will be needed, particularly by large utilities Competitive Threats & Vulnerabilities (Cont’d) Market Forces & Mandates

32. ©2004 InfoNetrix LLC All Rights Reserved Worldwide PART 5: Supplier Environment 5-32 Future Supplier Directions: GFAS AM/FM/GIS System Suppliers  The AM/FM/GIS systems market is dominated by 4 companies that control upwards of 80% of the total value: 1.Autodesk 2.ESRI 3.GE 4.Intergraph ESRI has risen to a position of market leadership over the past 5 years and is expected to continue as the market leader for new project sales in 2004. Neither GE nor Intergraph have been as successful winning new projects in N. America lately as either ESRI or Autodesk. Despite a popular notion that Autodesk does not offer a true AM/FM/GIS solution, many small- to medium-sized utilities as well as some large utilities continue to rely on Autodesk as their supplier due to widespread popularity and proliferation of AutoCAD.