Wednesday 11 January 2006 - The Board of Directors of Gaselys, a subsidiary of the Gaz de France (51%) and Société Générale (49%) groups, has carried out a reorganisation of its General Management, effective since 2 January 2006.

Thierry Daubignard, formerly Managing Director of Gaselys, becomes Chief Executive Officer of the company, replacing Edouard Neviaski.

At his side, Philippe Vedrenne is confirmed as Managing Director, with particular responsibility for commercial matters.

These appointments to the General Management of Gaselys represent continuity.

Thierry Daubignard and Philippe Vedrenne have both been involved since the outset in the partnership which led Gaz de France and Société Générale to create Gaselys, their joint natural gas and electricity trading subsidiary.

The experience and complementarity of this new management team are key strengths for the continued development of Gaselys in the European energy markets.

Edouard Neviaski, who has served as Chief Executive Officer of Gaselys since its formation, is leaving this post to become Deputy Head of Commodities Market Activities at Société Générale Corporate & Investment Banking. He will be a member of the Board of Directors of Gaselys.

Gaselys

Formed in 2001 by the Gaz de France and Société Générale groups, Gaselys is an energy trading company based in Paris, with the status of an investment services provider.

Gaselys operates in the physical and derivative energy markets in Europe: natural gas, electricity, oil and refined products, coal, CO2 allowances.

On the basis of its trading activities and its combined financial and industrial expertise, Gaselys provides Gaz de France, the customers of its two parent companies and all kinds of players across the energy chain with access to the wholesale markets, management of the risks associated with energy prices, as well as asset optimisation solutions (physical production assets, purchase or sale contracts, etc.).

Gaselys is one of the leading players in the European gas traded markets (NBP, Zeebrugge, TTF, BEB, PEGs) and has developed strong positions in electricity trading in Europe and particularly in the French market.

www.gaselys.com

Biographical information

Thierry DAUBIGNARD

Thierry Daubignard has served as Managing Director of Gaselys since its formation in May 2001. In 1995 he was appointed Managing Director of the Energy Derivatives Marketing team of the Commodities Department of Société Générale, divided between Paris, New York and Singapore. He had joined Société Générale in 1991, after an initial posting as an oil economist at the Institut Français du Pétrole.

Thierry Daubignard is a graduate of the Ecole Nationale Supérieure des Mines de Saint-Etienne (1989) and of the Ecole Nationale Supérieure du Pétrole et des Moteurs (1990).

Philippe VEDRENNE

Philippe Vedrenne has served as Head of Sales at Gaselys since its formation in 2001. Since March 2005, he has combined this post with that of Managing Director. He joined Gaz de France in 1997 as Key Account Manager. In 1999, within the marketing department, he was involved in setting up the partnership between Gaz de France and Société Générale, integrating hedging products in Gaz de France sale contracts. Philippe Vedrenne graduated in engineering from the Ecole des Mines de Paris (1993).

Gaselys Contact

ophie Carlier
Head of Communications
sophie.carlier@gaselys.com
+ 33 1 41 66 05 77

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