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Hydro One and Cap Gemini Ernst & Young continue to transform the energy industry: $ 1 Billion CDN deal in the works

Toronto, Canada, October 11, 2001 - Cap Gemini Ernst & Young Canada Inc. was selected by Hydro One Inc. to enter into contract negotiations to transfer existing Hydro One e-services capabilities to Cap Gemini Ernst & Young as part of Hydro One's efforts to increase its competitiveness.

Cap Gemini Ernst & Young and Hydro One are negotiating a contract totaling over $CDN 1 billion to manage and operate technology enabled services to Hydro One, which owns and operates one of the ten largest transmission and distribution networks in North America over a period of ten years.

Cap Gemini Ernst & Young will provide a range of information technology and business process services to the Hydro One family of companies including IT, customer care, supply chain and certain transactional human resources and finance processes.

This arrangement with Cap Gemini Ernst & Young will provide Hydro One with an opportunity for more competitively priced services and cost savings," said Hydro One President and CEO Eleanor Clitheroe. "It also provides our employees in the e-services area with growth opportunities in their area of expertise."

This arrangement will allow Hydro One to focus on its core wires business and continue to look to cost-competitive service providers for support.

This deal will position Cap Gemini Ernst & Young as a leader in the Energy Operate market in North America," said Eric Morgan, CEO of Cap Gemini Ernst & Young Canada. "Together with our other existing similar arrangements, Hydro One will provide Cap Gemini Ernst & Young a unique critical mass of outstanding technology and energy professionals and infrastructure to better serve the energy industry in North America."

Upon successful completion of this agreement, Cap Gemini Ernst & Young will be the largest player in the North American Energy Operate market.

Hydro One Inc., through its subsidiaries, is principally engaged in electricity transmission, distribution, telecommunications and energy services businesses. Through a wholly owned subsidiary, Hydro One Inc. owns and operates the largest transmission and distribution system in Ontario and one of the 10 largest in North America. Hydro One Networks has approximately 1.2 million distribution customers in Ontario. For company information, please visit www.HydroOne.com

Cap Gemini Ernst & Young Canada is a leading Canadian management and information technology consulting firm, providing outsourcing capabilities, strategy and technology consulting services, systems integration and technology development on a global scale. Cap Gemini Ernst & Young serves many of Canada's energy and utilities organizations. The firm also works on behalf of many of the country's leading consumer products, financial services, health care/life sciences, high tech, automotive, supply chain management, telecom and media companies. Cap Gemini Ernst & Young Canada is headquartered in Toronto, and has offices in Vancouver, Calgary and Montreal. For company information visit www.ca.cgey.com

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Cap Gemini Ernst & Young is one of the largest management and IT consulting firms in the world. The company offers management and IT consulting services, systems integration, and technology development, design and outsourcing capabilities on a global scale to help businesses continue to implement growth strategies and leverage technology in the new economy. The organization employs about 60,000 people worldwide and reports global revenues of about 8.5 billion euros (2000 pro forma). More information about individual service lines, offices and research is available at http://www.cgey.com.

MEDIA CONTACT:

Carolyn Rouse
Public Relations Specialist
Cap Gemini Ernst & Young Canada
(416) 941-1819

Terry Young
Director, Communications
Hydro One
+1 (416) 345-6072