Frank Scarpitti Named Chair of PowerStream Board of Directors

VAUGHAN, ONTARIO--(Marketwire - Feb. 10, 2011) - PowerStream, the second largest municipally-owned electric utility in Ontario, announced today the naming of Town of Markham Mayor, Frank Scarpitti, as Chair of the company's Board of Directors.

The announcement was made following a meeting held Wednesday at PowerStream's head office in which the 13-member Board of Directors voted to elect a new Chair and Vice Chair. City of Vaughan Mayor, Maurizio Bevilacqua, was elected to the Vice Chair position.

"It is indeed an honour and a privilege to be chosen by my Board colleagues to be Chair of a company which is recognized as being one of the leaders in the electricity industry," said Scarpitti who previously held the Vice Chair position on the PowerStream Board. "I am looking forward to working with both the new and returning directors to provide the necessary governance that will further assist PowerStream in its continuing mission to deliver reliable power and related services to our customers and the communities we serve."

The company's three shareholder municipalities – Vaughan, Markham and Barrie – recently appointed several new directors to the PowerStream Board including Bevilacqua; Barrie Mayor, Jeff Lehman; Barrie Councillor, Lynn Strachan; Vaughan Regional Councillors, Michael Di Biase, Gino Rosati and Deb Schulte; Vaughan Councillor, Alan Shefman and Markham Councillor, Alex Chiu. In addition to Scarpitti, other returning directors on the Board are Markham Regional Councillor, Jim Jones; Vaughan Councillor, Tony Carella as well as Ron Stevens and Dan Horchik.

About PowerStream Inc.

PowerStream is the second largest municipally-owned electricity distribution company in Ontario, providing service to more than 325,000 customers residing or owning a business in communities located immediately north of Toronto and in Central Ontario. The communities served include Alliston, Aurora, Barrie, Beeton, Bradford West Gwillimbury, Markham, Penetanguishene, Richmond Hill, Thornton, Tottenham and Vaughan. PowerStream is an incorporated entity, jointly owned by the City of Barrie, the City of Vaughan and the Town of Markham.