Dec 28, 2000

Rio Grande Water Users Receive Services

Azurix Corp. announced that its pilot program in the Lower Rio Grande has begun, using its Internet exchange, The site provides users in the Lower Rio Grande area with information, price transparency and efficiency in water exchanges.

"We believe the simplicity of the site and the transparency and price discovery it provides will be very appealing to water customers who are seeking to determine a fair market value for their assets," said Rebecca P. Mark, Azurix chairman and chief executive officer.

The Rio Grande water master allocates, monitors and controls 1.5 million acre feet of water annually through 1,173 miles of the Rio Grande River along the Texas/Mexico border and almost 400 miles of U.S. tributaries. It serves private water agencies, municipalities, industrial customers and state agencies.

(Source: Azurix Corp.)