Paris, 22 March 2006 – Further to the announcement made by the French State based on the report handed in on 21 March 2006 by the commission of independent experts, Gaz de France wishes to add the following:

- Gaz de France welcomes the levelling of the tariffs of 5.8 per cent which will allow covering the current gas supply costs.

- Gaz de France remarks that the law of 3 January 2003 stipulates in article 7, that the tariffs must cover all costs related to the supply of gas. Thus the company requests that costs, exclusive of supply, which were approved by the decree of 16 June 2005 should, as soon as possible, be incorporated as stated in its application.

- The company specifies that, in the absence of such a move, the negative impact on 2006 EBITDA would be €125 million. At this stage, the Group is not revising its financial objectives, with the condition that future oil prices remain at the current level.

- Gaz de France takes note of the resolve of the government to modify the basis for tariff evolution. However, the group points out that all changes of the tariff framework must adhere to the principles of the law, and in the respect of the company's financial stability, as the ministers did reiterate.

- Gaz de France repeated that the accumulated losses since 2004 amount to €750 million. It requests that this be dealt with once and for all and as quickly as possible, in respect of the French Public Service Contract.

This press release contains forward-looking statements based on estimates and forecasts of Gaz de France's management. Readers are informed that such statements, made as of data available today, are subject to risk and uncertainty factors. Therefore, actual results or events may differ from such forward-looking information and statements, which readers shall not consider as certain. Please note that Gaz de France disclaims any obligation to update the forward-looking information contained in this press release.

Media Contact :

Jérôme Chambin - Tel: +33 1 47 54 24 35 – Fax: +33 1 47 54 74 42
E-mail : jerome.chambin@gazdefrance.com

Group Profile

Gaz de France is a major energy player in Europe. The leading European natural gas supplier, the Group has more than 53,000 employees, recorded net sales of €22.4 billion in 2005, and serves 13.8 million customers, including 11.1 million in France. Listed on the Paris Stock Exchange since July 2005, the Group joined the CAC 40 share index and the Dow Jones Stoxx 600 in September 2005.

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