Hafslund has the 24th of October signed an agreement to acquire 55 percent of the newly established gas distribution company Gassnett AS (www.gassnett.no). Gassnett provides development and ownership of infrastructure, gas supply (propane and natural gas) and necessary equipment and control of gas installations for residential and industrial areas.

 

The acquisition of 55 percent of Gassnett is part of Hafslund's focus on alternative energy sources. Gas and gas distribution solutions at the eastern part of Norway are with the current energy price situation considered a natural and exciting development area for Hafslund.

 

Gassnett has today established infrastructure at four development areas in the Østfold-region and will during the autumn establish a storage and distribution network. The company has seven employees and expects growth in the coming years.

 

Hafslund ASA

 

Oslo, 25 October 2006

 

For further information, please contact:

 

Vice President Investor Relations, Heidi Ulmo, +47 90 91 93 25