Dec 28, 2000

Azurix Corp. Introduces

Azurix Corp. and Ariba, Inc. jointly announced that Azurix plans to launch, an Internet-based marketplace for buyers and sellers of water
and water-related services. Built on the Ariba business-to-business
eCommerce platform, will enable customers to transact business
relating to the transfer and physical delivery of water, and to the purchase or
sale of water storage and water quality credits.

"We believe ... will allow participants in the water market
to transact business more efficiently and improve market transparency and price
discovery," said Rebecca Mark-Jusbasche, chairman and CEO, Azurix. "It
also will allow us to work with state and federal agencies to help streamline
the time consuming paper-related documentation that currently accompanies the
approval process relating to water transfers." has been designed for water municipalities, agricultural
customers, landowners and environmental customers. Users will be able to post
their water needs on a wide information network to maximize the response and
attract more buyers and sellers, enabling them to determine the best value.

The Web site will utilize the Ariba business-to-business eCommerce platform for
more efficient transfers of water resources, including dynamic pricing
mechanisms such as auction, reverse auction, and bid/ask exchange solutions
which Ariba gained through its recently completed merger with Trading Dynamics,

SOURCE: Azurix Corp.