New York, December 15, 2003 - CSFB Private Equity, the private equity investing arm of Credit Suisse First Boston, announced today it has completed its previously announced acquisition of all of the equity interests in United American Energy Holdings Corp. ("UAE") through affiliates of DLJ Merchant Banking Partners III, L.P. and its affiliated co-investors. UAE’s primary asset is its 50% interest in American Ref-Fuel Company LLC ("American Ref-Fuel"), one of the largest owners and operators of waste-to-energy facilities in the United States.
The transaction was financed in part by the issuance of $225 million of 7 3/8% Senior Secured Notes due 2010 by MSW Energy Holdings II LLC and MSW Energy Finance Co. II LLC, which became subsidiaries of UAE following the acquisition.

CSFB Private Equity also announced that it and UAE had subsequently completed its previously announced sale of interests in five UAE-operated projects as well as certain operating agreements to a subsidiary of Delta Power Company, LLC ("Delta Power"), an owner, developer and manager of electric power generation facilities in the United States.

The previously announced agreement to sell interests in UAE’s power generating facility in Mecklenburg, Virginia, to an affiliate of Delta Power and an affiliate of John Hancock Financial Services Inc. has not been consummated and remains subject to certain other conditions.

Following these subsequent transactions, CSFB Private Equity will retain UAE's 50% indirect interest in American Ref-Fuel. Affiliates of CSFB Private Equity own an additional indirect 25% interest in American Ref-Fuel through MSW Energy Holdings, LLC.

About CSFB Private Equity
CSFB Private Equity, the global private equity arm of Credit Suisse First Boston, is the largest private equity manager in the world, with more than $31 billion of assets under management. CSFB Private Equity is comprised of investment funds that focus globally on leveraged buyouts, mezzanine, real estate and venture capital investments as well as primary and secondary purchases of interests in private investment funds. CSFB Private Equity includes the family of DLJ Merchant Banking funds and the Sprout funds as well as the Private Fund Group, which is dedicated to raising investment capital for global private investment firms. CSFB Private Equity also provides Customized Fund of Funds services, designing tailor-made solutions for institutional and high net worth investors. CSFB Private Equity maintains offices in New York, Los Angeles, Menlo Park, Chicago, San Francisco, Houston, London, Buenos Aires, Hong Kong and Tokyo.

About Delta Power
Privately owned Delta Power Company, formed in 1997, owns interest in and manages fourteen operating power projects in the U.S., with installed capacity of approximately 1,675 MW (prior to the UAE transaction). Delta Power has become a leading midsize U.S. independent power producer headquartered in Morristown, N.J., with additional offices in California, New Mexico, Texas, Michigan and Florida.