Ed Merrow will moderate Session #3, a panel discussion, entitled "Is the Capital Project Industry Business Model Broken?" Mr. Merrow will be joined by Mr. Tony Jones, Vice President of Project Execution for Valero (owner), and Mr. Cosimo Cannalire, CEO, Alliances of Technip Rome (contractor).

This thought-provoking session will raise options and approaches that might enhance the future engineering, procurement, and construction (EPC) contracting value proposition. This session was developed in response to questions we have heard from you.

• Are today's competencies properly aligned to appropriately place risks and potential rewards with their natural owners?
• Are we in a position to consistently deliver "win-win" projects for our mutual future benefit?
• Is a new model in order, or is our current model of "strongest survive," "winner-take-all" working just fine?
• What is a preferred contracting strategy that might ensure our mutual futures?

Date: September 9, 2005
Location: ECC Conference in Orlando, Florida