CPN Calpine Corp.

SAN JOSE, Calif. and HOUSTON, Feb. 15 /PRNewswire-FirstCall/ -- Calpine Corporation (NYSE:CPN) announced today that members of the Company's senior management team will host an analyst meeting on Friday, Feb. 29, 2008, at The Grand Hyatt located at 109 East 42nd Street, Grand Central Terminal in New York City. Registration and lunch will begin at noon, and the presentation will begin promptly at 1 p.m. EST. The purpose of this meeting is to present an overview of Calpine and to provide an update on the Company's business strategy as a stand-alone company following its emergence from bankruptcy in late January. A live Internet Webcast of the meeting, including management's presentation will be available at http://www.calpine.com/ by clicking on an available audio link. The Webcast will be available for replay purposes for 45 days after the live broadcast. To register for this event, please go to the following link: http://www.calpine.com/Calpine-2008-Analyst-Meeting.doc Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering nearly 24,000 megawatts of clean, cost-effective, reliable, and fuel-efficient electricity to customers and communities in 18 states in the United States. The company owns, leases, and operates low-carbon, natural gas-fueled, and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com/ for more information. DATASOURCE: Calpine Corporation CONTACT: Media, Mel Scott, +1-713-570-4553, , or Investors, Norma Dunn, +1-713-830-8883, , both of Calpine Corporation Web site: http://www.calpine.com/

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