VENTURE CAPITAL POST

Transeastern Power Trust ("Transeastern" or the "Trust") is pleased to announce it has closed its initial public offering (the "Offering") of 11,045,800 units of the Trust (the "Units") at a price of $1.00 per Unit along with $11,763,000 aggregate principal amount of 7.5% convertible unsecured subordinate debentures (the "Debentures") for aggregate gross proceeds of $22,808,800.