CPN Calpine Corp.

SAN JOSE, Calif., Dec. 5 /PRNewswire-FirstCall/ -- Calpine Corporation (NYSE:CPN) was notified by the New York Stock Exchange (NYSE) that the company's common stock will no longer be traded on the NYSE. The NYSE advised the company that it expects to suspend trading in CPN prior to the opening of the market on Tuesday, December 6, 2005, or earlier if it deems necessary. The NYSE attributed its decision to suspend trading to the abnormally low selling price of Calpine's common stock and the company's current financial condition. Calpine expects its common stock will be quoted on the OTC Bulletin Board. A major power company, Calpine Corporation supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces and is building a plant in Mexico. For more information, visit http://www.calpine.com/. This news release discusses certain matters that may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the intent, belief or current expectations of Calpine Corporation ("the Company") and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results, including risks identified from time-to-time in the Company's reports and registration statements filed with the SEC, including the risk factors identified in its Annual Report on Form 10-K for the year ended December 31, 2004, and in its Quarterly Report on Form 10-Q for the three months ended September 30, 2005, which can also be found on the Company's website at http://www.calpine.com/. All information set forth in this news release is as of today's date, and the Company undertakes no duty to update this information. DATASOURCE: Calpine Corporation CONTACT: press, Katherine Potter, 408-792-1168, or , or investors, Rick Barraza, +1-408-792-1125, or , or Karen Bunton, +1-408-792-1121, or , all of Calpine Corporation Web site: http://www.calpine.com/

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