Expansion of municipal partnership: Gelsenwasser to become shareholder in novogate

Düsseldorf, 21 November 2007- GELSENWASSER is to invest in the gas procurement platform novogate. GELSENWASSER AG is acquiring a share of 10% of the share capital of novogate GmbH, founded last year by Deutsche Essent GmbH and Bayerngas GmbH. The founding shareholders are reducing their shares to a respective 45%. The companies have now signed a consortium agreement, which will become effective immediately following approval by the antitrust commission.

In the first year of its operation novogate has successfully established itself as a supply partner for municipal utilities, with gas sales of some 3.5 TWh of natural gas.

"GELSENWASSER AG will increasingly utilise the future opportunities of the natural gas market in conjunction with novogate via several projects. GELSENWASSER AG is a distinctive anchor point in a municipal network. Consequently, novogate and its shareholders are a very good match for our philosophy. We are looking forward to the new partnership", stated Dr. Scholle, CEO of GELSENWASSER AG.

"The market has confirmed our expectations that numerous municipal and regional suppliers are looking for alternatives when it comes to gas procurement. We will continue to pursue this strategy together with GELSENWASSER. We are a reliable partner for such municipal utilities wishing to preserve their independence. GELSENWASSER is a municipal and innovative company with direct gas sales of approximately 5 billion kWh/a, an ideal complement to the novogate business," commented novogate Managing Directors Klaus Schüßler and Ulrich Mayr.

novogate
novogate is a joint subsidiary of the companies Bayerngas GmbH and Deutsche Essent GmbH and, in future, GELSENWASSER AG, with registered office in Munich. At its sites in Munichand Düsseldorf the company offers a gas procurement platform for public utility companies. Managing Directors of the company are Ulrich Mayr and Klaus Schüßler.

More information
Please contact the following with enquiries:

Eva Wagner
Manager Communication
Deutsche Essent GmbH
Roßstraße 92
40476 Düsseldorf
Telephone 0049-211 60129-165
Fax 0049-211 60129-100E-mail: presse@essent.de

Dirk Barz
Spokesman
Bayerngas GmbH
Poccistraße 9
80336 München
Tel.: +49 (89) 7200 339
Fax.: +49 (89) 7200 428
dirk.barz@bayerngas.de

Felix A. Wirtz, Heidrun Schneider
Press office
GELSENWASSER AG
Willy-Brandt-Allee 26
45891 Gelsenkirchen
Telefon: 02 09/7 08-2 47
Telefax: 02 09/7 08-2 92
E-Mail: pressestelle@gelsenwasser.de

Published: 21 November 2007