GFI Energy Ventures - Press Release

Synergen, Inc. Attracts Substantial Industry Investor

Rapid Growth and Innovative Solutions Attract GFI Energy Ventures

June 8, 2004 - For Immediate Release

Walnut Creek, CA – Synergen, Inc., a leading provider of Enterprise Asset Management (EAM) and Computerized Maintenance Management (CMMS) solutions to asset-intensive industries, today announced that GFI Energy Ventures, LLC has acquired a majority interest in the company. Synergen’s enterprise software solutions help their customers manage and maintain their assets in support of a range of financial, regulatory, and operating efficiency objectives. Such solutions are increasingly important in addressing return on investment and customer service priorities, particularly for organizations with large infrastructure networks and distributed assets.

Synergen has grown substantially since being founded in 1986 by CEO Richard MacDonald, who will continue to lead the Synergen business. GFI Energy Ventures is a leading investor focused on growing and successful companies that meet the needs of the evolving utility sector and related industries. GFI has made over 40 investments in the technology arena over the past eight years and now manages a portfolio of companies with an aggregate value of more than $2 billion. Palo Alto-based Arbor Advisors served as Synergen’s advisor in the transaction.

“I am gratified by the vote of confidence that GFI Energy Ventures’ investment represents,” stated Richard MacDonald, president and CEO of Synergen. “GFI is well known as a leading investor specializing in the market sectors in which we focus. Not only does their investment validate the hard work and accomplishment of the people of Synergen, but GFI’s proven record of helping to build successful companies by providing financial resources and deep strategic insight and sector knowledge bodes well for our ability to serve our customers even more effectively in the years ahead. I am very excited about reaching this milestone and am quite enthusiastic about Synergen’s prospects for the future.”

Andrew Osler, senior vice president of GFI Energy Ventures added, “GFI is very pleased to call Synergen and Dick MacDonald our newest partners. We greatly admire Synergen’s record of consistently delivering high quality and responsive software solutions using state-of-the-market technology with a human touch. An important consideration for us was the extremely positive customer feedback we received on the quality of Synergen’s software, its universally successful implementations and the ease with which customers can upgrade. We look forward to contributing our industry expertise, our network of contacts and our financial resources to support the further growth of what is already a successful company.”

About Synergen:
Synergen, Inc. (www.synergen.com) offers a series of award-winning Web-architected products that address all aspects of collaborative work management; asset reliability and maintenance; resource optimization and scheduling; inventory control, purchasing, and contract management; operational accounting; reporting and analytics; capital project tracking; safety and regulatory compliance; and document control. The Synergen Series was named the 2003 MRO Gold Product of the Year by Plant Services magazine. Synergen’s customers include City of Anaheim, Canadian Forest Products, FMC BioPolymer, Louisiana Offshore Oil Port, MidAmerican Energy, New York City Department of Environmental Protection, Stepan Chemical, USFilter/Veolia Water and Westar Energy, among other capital-intensive organizations faced with asset, facility and fleet management challenges.

About GFI:
GFI Energy Ventures LLC (www.gfienergy.com) is a significant equity investor in established, industry-leading companies seeking capital for growth. Since 1995, GFI has originated more than forty investments in successful companies that provide systems, software, equipment and services primarily to the utility industry and related sectors. GFI oversees a portfolio of companies with a market value in excess of $2 billion and is the co-general partner with Oaktree Capital Management, LLC of the $454 million OCM/GFI Power Opportunities Fund, L.P.

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