Bank Sarasin, a leading bank in Basel, Switzerland, is setting up a $113 million fund to finance renewable energy businesses worldwide. It plans to list New Energies Invest on the Zurich stock exchange by 2003. They plan to fund 10-20 businesses with a special focus on Europe and the U.S. The fund opened on October 1, 2000 with about CHF 60 million in initial capital. The minimum amount per investor is expected to be CHF 50,000. The fund will invest in companies already successful in renewable energy. Key areas will be solar (with a bias toward PV), wind, hydro and geothermal power.

Andreas Knoerzer
Head of Sustainable Investments
061 277 74 77
fax: 061 277 7688

Jeremy Leggett
Solar Century
870 735 8100
fax: 870 735 8101