9.9.2004: Meldung: Calpine Power Income Fund appoints new CFO

Calpine Power Income Fund (the "Fund") announced today the appointment of Carol Mallabone to Vice President and Chief Financial Officer, of Calpine Canada Power Ltd, the Manager of the Fund.

"As a result of the sale of Calpine Corporation"s Canadian oil and gas assets, John Nearing, the former Chief Financial Officer will be moving on to other opportunities," said Toby Austin, President and Chief Executive Officer of Calpine Canada Power Ltd., the Manager of the Fund. "John has served the Fund well and we wish him great success in his future endeavours. We are delighted to have Carol Mallabone take on the Chief Financial Officer role for the Fund. Ms. Mallabone, as Director of Tax for the Manager, has been directly involved in the financial matters of the Fund since its inception and brings a wealth of experience from previous financial roles with Calpine and other companies."

Ms. Mallabone will serve as Vice President and Chief Financial Officer for the Fund, contributing to all major financial decisions and transactions affecting the Fund. Ms. Mallabone will also serve as Vice President and Chief Financial Officer of Calpine"s finance operations in Canada.

Prior to this appointment, Ms. Mallabone was Director of Tax of Calpine Canada responsible for the Canadian tax affairs of Calpine including that of the Calpine Power Income Fund. Prior to joining Calpine in 2001, Ms. Mallabone served as Chief Financial Officer of IKON Office Solutions, Canada. Ms. Mallabone graduated from Queen"s University in Kingston, Ontario with a Bachelor of Commerce (Honours) degree in 1988 and received her Chartered Accountant designation in 1990.

Calpine Power Income Fund is an unincorporated open-ended trust that invests in electrical power assets. The Fund indirectly owns interests in three power plants in British Columbia and Alberta in Canada, and in California in the United States, and has a loan interest in a power plant in Ontario. The Fund is managed by Calpine Canada Power Ltd., which is headquartered in Calgary, Alberta.

The Calpine Power Income Fund units are listed on the Toronto Stock Exchange under the symbol CF.UN.

Calpine Power Income Fund
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