99 2.5 boxster engine failure? (white smoke)

Ok, so I was on I10 today driving at about 6500 rpms in third gear. I ****************ed to fourth, and began slowing down.. Moments later I heard a poof noise. My engine lost all power and i pulled to the side of the road only to notice white smoke and coolant coming directly out of my exhaust. Also found coolant dripping near the exhaust pip on the passenger side. The car no longer starts(obviously) and i try to turn it over and it sound like it has NO compression due to what happened.

Is my engine fried? Or is it coolant system related. At the time of the incident the engine was not overheating, nor did it overheat after the fact.

WTF? Ive had it since october and it has about 75k miles on it.


Help!

Rich