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Press Release - 23rd May 2007

Mutual Energy (NIEH) today announced that they have started discussions with Phoenix Energy Holdings on the possible acquisition by NIEH of the Phoenix-owned gas transmission pipeline between Islandmagee and Belfast.

ENDS.

Notes:

Mutual Energy is a company limited by guarantee. Its principal object is to own and operate energy infrastructure assets in the interests of the energy consumers of Northern Ireland. The company has no shareholders and therefore its primary stakeholders are energy consumers. The Phoenix pipeline transmits gas onward to Greater Belfast from the Scotland Northern Ireland pipeline (SNIP) which is owned and managed by Mutual Energy.

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Mutual Energy Media Contact:

Michael McKernan, Lagan Consulting Tel: +44 (0)28 9261 9550

email: michael.mckernan@laganconsulting.com