Ashmore Energy International and Promigas agree to acquire Calidda

Business Wire, Feb 19, 2007

The agreement reached with Suez International Energy provides for the sale to AEI and Promigas, also an AEI company, of 100% of Calidda shares

AEI is a premier global energy company, with over US$ 2 billion in revenues and presence in 13 countries

Promigas provides natural gas services to more than 7 million people in Colombia

Calidda will continue to operate normally while approvals for the transaction are sought

HOUSTON & LIMA, Peru -- Ashmore Energy International ("AEI") and Promigas S.A. E.S.P. ("Promigas"), have announced today an agreement with Suez Energy International for the acquisition of 100% of the shares of Calidda (GNLC S.A.), a company that owns a natural gas distribution concession in Lima and Callao, in Peru.

The transaction is a strategic acquisition for AEI as it helps the company further expand its Latin America platform. AEI is the owner and operator of energy infrastructure assets in 13 emerging markets, including Colombia, Venezuela, Brazil, Bolivia, Panama, Dominican Republic, Nicaragua and Guatemala.

Promigas, a company of which AEI is also the majority shareholder, can apply its experience in the Colombian market to develop natural gas services in different business segments and regions in Peru. In Colombia, Promigas serves over 1.5 clients, which is equivalent to a population of 7 million inhabitants in over 175 towns and provinces in very similar economic conditions to those existing in Peru, in addition to providing services to industrial and commercial clients as well as power generators.

The vision of AEI and Promigas, through the combination of both companies' expertise and Calidda's knowledge of the Peruvian market, is to improve service reliability and timeliness. AEI will also work with the government and the community to facilitate the widespread use of natural gas in Lima and Callao, with a growth strategy to connect additional customers.

The transaction is subject to the relevant government approvals. During this period, Calidda's operations will continue normally and will not experience any changes.

Promigas is one of Colombia's leading energy companies with investments in essential natural gas transportation and distribution, fuel, lubricant and compressed natural gas distribution businesses. In addition, Promigas' businesses have recently entered the energy markets of Peru, Ecuador and Mexico.

Promigas is 52.9% owned by AEI.

AEI is an owner and operator of essential energy infrastructure in emerging markets. AEI manages interests in a group of 20 energy assets located in 13 countries with more than US $2 billion in revenue and 8,300 employees. The company serves approximately 6.6 million customers worldwide by operating through three business segments: Natural Gas Services, Power Distribution and Power Generation with approximately 34,400 KM of oil and gas pipelines, 121,400 KM of electric transmission and distribution lines, and a gross installed capacity of 1,914 MW. You can visit the AEI website at www.ashmoreenergy.com.