PRESS RELEASES 2004
FOR IMMEDIATE RELEASE
December 15, 2004
ISSUED BY:   PG&E Corporation, 1-800-743-6397

BARBARA RAMBO TO JOIN PG&E CORP. AND PACIFIC GAS AND ELECTRIC COMPANY BOARDS OF DIRECTORS

(San Francisco, CA) – PG&E Corporation (NYSE:PCG) today announced the election of Barbara L. Rambo to its Board of Directors and the Board of Directors of utility unit Pacific Gas and Electric Company, effective January 1, 2005.

Rambo, with more than 25 years of experience in the banking industry, is the Chief Executive Officer of Nietech Corporation, a payments technology company serving financial institutions and payment processors.

“We are pleased to have Barbara join our Boards of Directors,” said PG&E Corporation Chairman, CEO and President Robert D. Glynn, Jr. “Her experience as a director and as a chief executive will be valuable on our boards, as will her career-long experience in finance.”

Before joining Nietech in 2002, Rambo served as CEO of OpenClose Technologies, a financial services company serving the mortgage banking industry. Previously, Rambo was with Bank of America, where she was Group Executive Vice President and Head of National Commercial Banking, the third largest business in the Bank of America organization at the time. While heading the National Commercial Banking Group, Rambo was also a member of the Senior Management Council, the Asset and Liability Committee, and the Social Policy Committee. Rambo previously oversaw the U.S. Corporate business in the East for Bank of America and was based in New York City. Rambo began her career in the international banking division of Bank of America in New York.

Rambo is a Director and member of the Audit Committee of Gymboree Corporation. Her board experience has included the areas of audit, governance and nominations. Past board positions include director of BA Capital; president of the College of William and Mary Board of Sponsors; vice chairman of the San Francisco Ballet; chairman of the Operating Committee of the Roundabout Theatre, New York; and president of the Women’s Forum West.

Rambo holds an M.B.A. in Finance from New York University and a B.A. in International Affairs from the College of William and Mary.


 

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