Paris, June 28 2005 - Gaz de France has signed an agreement with the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), whereby the Group will sell each partner a 5% interest in the capital of the Romanian natural gas distributor, Distrigaz Sud, a transaction worth a total of approximately 60 million euros.

In May earlier this year, Gaz de France finalized the acquisition of a 51% interest in the capital of Distrigaz Sud representing a total investment about
300 million euros.

EBRD and IFC are recognized international organizations enjoying a strong presence in Romania. Within the framework of the modernization of Distrigaz Sud, this agreement will enable Gaz de France to benefit from its partners' extensive international experience in such overseeing processes as well as their knowledge of the European and Romanian regulatory environment.

Distrigaz Sud serves a total of nearly one million household and non-household customers, particularly in Bucharest. The company operates a natural gas distribution network 13,800km (8,575 miles) in length carrying some 6 billion cubic metres of natural gas every year in the southern part of Romania. Its sales account for approximately one quarter of total natural gas consumption in Romania.

Press Contact :

Béatrice De Boer – Tel: 33-1 47 54 21 27 - Fax: 33-1 47 54 74 42
Email: beatrice.de-boer@gazdefrance.com

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