press release

PGI names new president; first Filipino takes general manager post

Manila, July 22, 2002 - Philippine Geothermal, Inc., (PGI), today announced the appointment of Barry S. Andrews as president effective Aug. 1, 2002. PGI also announced that Antonio F. Yee has been named senior vice president and general manager.

Andrews succeeds D. Stephen Pye, who is retiring after 35 years of distinguished service with Unocal Corporation, the parent company of PGI. Pye became president of PGI in 1998.

As president, Andrews will have overall responsibility for the Philippine business unit. He is expected to be a key resource to the PGI negotiating team, led by Luli Heras-de Leon, PGI executive vice president for Commercial Affairs, in the ongoing discussions and negotiations with PSALM and the state-owned National Power Corporation. Andrews has been actively involved in these discussions over the past several months, and PGI is confident the negotiations will be successfully resolved

As senior vice president and general manager, Yee will be primarily responsible for PGI's ongoing geothermal steam field operations at Tiwi and Makiling-Banahaw (Mak-Ban). He is the highest-ranking Filipino at PGI, and his promotion represents a major milestone for the company.

The move confirms Unocal's commitment to developing national employees in its global operations. Currently, 10 of the 12 senior managers at PGI are Filipinos. More than 97 percent of PGI's workforce are Philippine nationals.

"The new management team affirms Unocal's commitment to the Philippines in keeping with our company's global succession planning and builds on the success of PGI's more than 30-year partnership with NPC," said Brian W. G. Marcotte, Unocal vice president for International Energy Operations. "This new team will help position PGI to meet the challenges of a restructured power sector and changing national and regional environment."

Biographical information

Barry Andrews has been vice president - Commercial Affairs, for Unocal based in Singapore. He joined Unocal in 1984 and has worked in Law, Tax, Geothermal Planning and Business Development, and New Ventures, which has given him extensive experience in commercial transactions and negotiations in the ASEAN region.

Andrews holds a bachelor of arts degree in Economics from the University of Notre Dame, a juris doctorate degree from Loyola Law School, and a master of Laws degree from New York University.

Antonio Yee brings strong operational experience and a proven track record to the position. He has led PGI's Mak-Ban geothermal project to record generating performances since 1999. Prior to his stint as Mak-Ban vice president, he served as asset manager for Unocal's operations in The Geysers in California, one of the world's largest geothermal projects.

Yee joined PGI in 1979 as a warehouse clerk and worked his way up the ranks to various management positions before being posted abroad in 1992 to lead Unocal's start-up operations for the Gunung Salak geothermal operations in Indonesia.

Yee holds a bachelor's degree in mechanical engineering from the University of Sto. Tomas. He recently completed his management studies at the Kellogg Business School at Northwestern University.

PGI is a wholly owned subsidiary of Unocal Corporation; Unocal is one of the world's leading independent natural gas and crude oil exploration and production companies. The company's oil and gas activities are in North America, Asia, Latin America, and the North Sea. Unocal is one of the world's largest producers of geothermal energy with operations in the Philippines and Indonesia.

Updated: July 2002