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Paris, 21 December 2007 – Shareholders at the Annual General Meeting held on 23 May 2007 approved Resolution 6 on a company buy-back of its own shares, for up to 5% of its share capital.  The maximum buy-back price set by shareholders at the Annual General Meeting was €50 per share, excluding purchase costs.

Gaz de France's Board of Directors, which met on 19 December 2007, chaired by Jean-François Cirelli, decided to go ahead with the implementation of Gaz de France's share buy-back programme.

The share buy-back programme, in which the shares will ultimately be cancelled, has been fixed for a maximum of 24 500 000 shares, or around 2.5% of the Company's capital.  The programme, which could amount to around €1 billion, will end on 23 November 2008 at the latest.

To bring the programme to a successful end, Gaz de France will be calling upon an investment service provider.

Weekly updates on the transactions carried out under the programme will be available at Web site www.gazdefrance.com.

Group profile:

Gaz de France Group is a major energy player in Europe.  As the leading natural gas distributor in Europe, Gaz de France employs nearly 50 000 employees and earned 28 billion euros in sales in 2006.  The Group holds a portfolio of 14 million clients, approximately 11 million of which are in France.  Listed on the Paris Stock Exchange, Gaz de France is also part of the CAC 40 and Dow Jones Stoxx 600 indices.

Press contact:  

Jérôme Chambin - Phone: +331 47 54 24 35
E-mail: jerome.chambin@gazdefrance.com                                                         

Investor relations contact:

Brigitte Roeser Herlin - Phone: +331 47 54 77 25
E-mail: GDF-IR-TEAM@gazdefrance.com