SmartSynch Named Most Promising Company

Energy Technology Industry Recognizes Leader of Smart Metering Solution

Jackson, MS — October 15, 2002

Jackson, MS (October 15, 2002) – SmartSynchTM announced today that it was selected as one of the “Most Promising Companies” at Energy Venture Fair III recently held in Chicago, Illinois. SmartSynch was chosen out of 75 of the leading companies providing technology solutions to the energy industry. Energy Venture Fair III is an event organized to bring emerging companies in the energy sector together with an audience of more than 300 angel investors, venture capitalists, equity partners, investment banks and utility companies.

“It is exciting to be recognized by the energy industry as a company with a bright future,” said Mark Rodgers, CEO of SmartSynch. “We are experiencing strong demand for our smart metering technology as utilities across the country look for ways to lower costs, improve customer service and better manage generation resources.”

SmartSynch introduced its smart metering technology in March of 2000 and currently has over 20 utility customers. Last week the company announced a strategic alliance agreement with Itron (NASDAQ:ITRI) to be the exclusive distributor of its SmartMeter SystemSM to the electric utility industry. Itron is the leading knowledge provider to the utility industry and has over 2,000 utility customers.

SmartSynch, an energy technology company based in Jackson, MS, is the leading provider of smart metering solutions to the energy and utility industry. Its core product, the SmartMeter System, enables energy and utility companies to communicate with commercial and industrial electricity meters using wireless communications and the Internet. The SmartMeter System manages the delivery of critical information to any application system, workstation, computer, or browser enabled personal communications device. For more information, visit www.smartsynch.com.

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