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2006-02-15 | Dalkia first base in Canada

Dalkia has entered into a strategic partnership with Gaz Metro in the district heat distribution networks sector in Canada and in Montreal in particular.

Dalkia Canada and Gaz Metro Plus, a subsidiary of Gaz Metro, one of the leaders in the distribution of natural gas in Canada, signed apartnership agreement on 14 February 2006. The partners are setting upa joint venture company called "CDH Solutions & Operations" todevelop and operate district heating and cooling networks in Canada.This joint venture is thus backed by two well established shareholders with complementary and diversified expertise to provide customers with a better response to their heating and air conditioning requirements.

This partnership will be supported by Gaz Metro Plus' subsidiary CCUM (Climatisation et Chauffage Urbain de Montréal), which is the owner and operator of the district heating and cooling network in Montreal, Quebec, within "CDH Solutions & Operations".

This agreement stipulates that the joint company is to be managed by Dalkia which notably provides its expertise in the fields of energy and environmental optimization and the efficient management of heating networks, with the aim of generating an estimated annual turnover of€ €150 million within the next 3 years.

For Dalkia, this partnership comes a few months after winning the Cambridge - Massachusetts steam distribution contract - "We are proud of this partnership with Gas Metro, one of Quebec's great energy companies. It represents a significant step forward for Dalkia in the district heating networks market in Canada and North America. This geographic area represents a considerable development potential forDalkia. This agreement is in keeping with the approach of local authorities which want to improve the energy and environmental efficiency of their energy production and distribution systems" states Olivier Barbaroux, Dalkia's CEO.

This new partnership will allow the parent company Gaz Metro Plus to consolidate its market position and innovate and invest in CCUM'sdistrict heating and air conditioning network, to improve the services provided to its current customers. "We are very happy to announce a partnership with Dalkia, one of the leaders in the district heatingsector worldwide. CCUM will be able to count on a well established, experienced partner in developing a market which offers attractive future prospects" commented Mr Robert Tessier, Gaz Metro's CEO.

With the support of this reference which represents one of the largest district heating and cooling networks in North America, supplying more than 1.5 million square meters in the Montreal towncenter (office blocks, shopping centers, hotels, university campuses,etc.) "CDH Solutions & Operations" will expand its development first and foremost in the urban centers of the provinces of Quebec, Ontario, Alberta and British Colombia.

With assets worth more than $2.5 billion and more than 1,500 employees in Quebec, Gaz Metro is one of the largest natural gas supplycompanies in Canada. Gaz Metro supplies some 164,000 customers in Quebec with an underground pipe network almost 10,000 km long. One ofits subsidiaries, Vermont Gas Systems, supplies about 37,000 customers. As one of Gaz Metro subsidiaries, Gaz Metro Plus provides maintenance and repair services for natural gas district air conditioning and heating equipment, and water heater rental services, including electricwater heaters (HydroSolution).

As a subsidiary of Veolia Environnement and EDF, Dalkia is Europe's leading energy service provider for elected authorities and companies. Its vocation has always been to promote energy and environmental optimization. Management of heating networks, energy and fluid production units, engineering and maintenance services for energy facilities, technical services for the operation of service and industrial buildings, providing of building integrated management services: Dalkia meets the needs of its customers through comprehensive, customized solutions providing comfort and energy efficiency. With more than 45,000 staff in 38 countries, Dalkia's 2005 turnover was €€6.1 billion.

Analyst and institutional investor contact: Nathalie Pinon - Tel. +33 1 71 75 01 67

US investor contact: Brian Sullivan - Tel +(1) 630 371 2749