As an industry, the generation business has gradually moved from an
environment focused on surplus reserve requirements to one of highly
volatile prices and robust generation margin spikes.  As this shift has
occurred, the industry has had to adopt many of the risk management
practices employed in other commodity industries.  For the most part, these
risk management practices have their genesis in the financial markets, where
sophisticated tools have also been developed to measure the success of these
practices.

The most commonly recognized measure of profit exposure to unforeseen events
has been Value at Risk (VAR).  This Wall Street metric measures the
statistically supported loss exposure of a portfolio of assets and forward
positions to a short-term negative turn of events.  While this is a very
useful measure of a speculative trading portfolio, its value does not
translate easily to measuring exposure of generation assets to profit
erosion.

Savvy power companies are deploying an additional risk metric, Profit at
Risk, to more accurately assess risks specific to the volatile electricity
trading market.  A key feature of PAR is that, unlike VAR, it assumes that
positions will be taken through to delivery rather than closed out.  The
full financial risk of highly volatile spot prices and volume risks
including unplanned outages, sudden increases in demand and delivery
failures by contract partners, is comprehended in this metric.

A blend of VAR and PAR risk metrics will create links between the front,
middle and back office trading operations, allowing traders to operate
within established risk parameters that both protect the enterprise and
maximize trading profits.

The Austin Group Energy, L.P. has been recognized as one of the fastest
growing companies in Houston, as denoted by the Houston Business Journal Top
100 List. We placed #21 and were the highest ranking executive search firm
in Houston. Below is a brief description of the type of candidates that are
open for immediate opportunities:

Ref# 00012123
Power Options Trading Desk
This PhD candidate is responsible for long term derivatives
trades/structures (Asian options, heat rate options, weather/power
derivatives structures, swing options etc.

Ref# 00012124
Rotational Program- Risk Analytics
This MBA Finance candidate is analyzing/evaluating structured transactions
and derivative instruments. Has developed a VBA-based delta-adjusted risk
exposure model for all asset management groups. Designed intermediate-term
forward power curve forecasting model based on gas forward curve. Created
Visual Basic Monte Carlo simulator for Excel for option analysis.

Ref# 00012125
Quantitative Analyst
This M.S. in Applied Mathematics candidate builds short term models
necessary to forecast/schedule usage on a portfolio basis, by various levels
of aggregation (e.g. region, congestion zone, weather zone, customer, etc.)
Constructing statistical and econometric models to accurately predict
seasonal customer usage based on rate class, calendar and geographic climate
patterns.






Ref# 00012126
Quantitative Analyst - Manager
This candidate developed and implemented two Value-At-Risk (VAR) methods for
Natural Gas. Developed and implemented models for pricing and hedging exotic
natural gas options (Gas Daily and Peaker). OpenLink experience with VaR and
mark-to-market calculations.

Ref# 00012127
Director Derivatives Trading and Portfolio Management
Developed Nymex and locational options, position risk management model.
Evaluated and assisted in the process of selecting and implementing a new
real time front and back office financial system with VAR capabilities.
Structured deals for marketers using embedded financial products and traded
traded natural gas options and fixed for float swaps. Priced and hedged
advanced options and swaps such as swaptions, asians, extendibles,
expandibles, and spread options.

Ref# 00012128
Risk Control Analyst
Support Origination and Trading activities by providing daily mark-to-market
values and VaR reports through accurate and timely entry of financial
transactions into RMS system. Maintain database for RMS system and
Integrated Commodity Trading System (ICTS) for entry of financial trades.

Ref# 00012129
Risk Manager
Responsible for all mid-office trader support functions. Responsibilities
include daily senior management position and P&L reporting, process
improvements, system implementations, structuring of originated
transactions, and rollout of an operational analysis plan.

Ref# 00012130
Senior Commercial Analyst:  Pricing and Structures
Developing model to incorporate basis and transportation into gas fuel costs
utilized in mark-to-market valuation of a gas-fired generation asset.
Determined market value of regional power by confirming the marks estimated
by Entergy's trade desk against independent broker prices.  Forecasted
resulting previous day's trade-to-market figure for preliminary valuation of
book value.

Ref# 00012131
Director - Risk Management
Analyze financial markets and advise physical traders of hedging and trading
opportunities.  Analyze market, secure management approval of trading
strategies and execute financial trades.  Generate position reports for
upper management.

Ref# 00012132
Risk Management Specialist
Perform risk management functions for the gas trading organization,
including daily position and P&L reporting.  Ensure deal validation and
perform problem resolution for executed trades.  Create daily VaR estimates
for both cash and term traders.



Ref# 00012133
Risk  Analyst
Determine market value of regional power, confirming the market values
estimated by trade desk against prices set foependent brokers.  Forecast
resulting previous day's trade-to-market figure for preliminary valuation of
book value.  Participate in daily Value at Risk calculations, exception
reporting for daily variances, updating of daily price curves, and updating
proprietary models which value long term transactions.

Please contact me for detailed interview packets of each candidate. Should
you have further questions, do not hesitate to call.

Paul Johnson
President
(281) 497-8595

Visit our website
www.austingrp.com