Actis Acquires Majority Stake in Guatemala's Largest Electricity Network From Gas Natural Fenosa

LONDON, May 20, 2011 - Actis, the pan-emerging markets private equity investor, has reached an
agreement with GAS NATURAL FENOSA, a leading multinational in the gas and
electricity sector, to acquire a group of companies dedicated to the
transportation and supply of electricity to 1.4m customers in Guatemala in a
transaction worth US$345m plus assumed debt.

The core of the business lies in its two electricity distribution and
supply companies, DEOCSA and DEORSA; together these businesses supply
electricity to 20 of the 22 departments in Guatemala, covering 94% of the
land mass and serving the country's large rural population.

GAS NATURAL FENOSA has built a strong, well-managed asset and Actis looks
forward to working with the current management team to provide a first class
customer service to its customers. Actis will draw on extensive investment
experience gained in its management of Umeme, Uganda's electricity
distribution business, to further strengthen DEOCSA and DEORSA; expanding and
investing in the network, connecting new customers and concentrating on loss
reduction activities. Actis is looking forward to working closely with the
Guatemalan authorities and communities in the years ahead to provide a
continuous improvement in customer care and service quality.

Actis's investment reflects its confidence in the potential of the energy
sector in Central America. Guatemala has demonstrated the fastest sales
growth in Central America since the privatisation of its distribution sector
in 1998 with a CAGR of 6.6%. Actis is committed to the provision of safe,
reliable electricity to support Guatemala's continued economic growth.

Michael Till, Co-Head of the Energy Fund at Actis, said: "Through our
investment we will continue to support Guatemala's economic growth by
providing the energy it needs. Actis looks forward to building upon the work
of GAS NATURAL FENOSA and delivering a world-class service to customers while
operating to the highest environmental, safety and governance standards."

Since 1999 GAS NATURAL FENOSA has made an important contribution to the
energy system of Guatemala. This investment has offered a stimulating
challenge for it as an energy company and at the same time an opportunity for
encouraging development, know-how and improvements. Throughout its
involvement it has counted upon the support and understanding of the
regulatory bodies and of the Guatemalan authorities. After this disposal of
assets, GAS NATURAL FENOSA will continue to operate in the country via its
telecommunications business Ufinet.

GAS NATURAL FENOSA maintains its commitment to Latin America,
which currently accounts for more than 30% of group EBITDA. The company is
still one of the principal energy operators in the region, present in a total
of ten Latin American countries, with key positions in the region's main
markets. The energy multinational is involved in gas distribution in
Argentina and Brazil, electricity and gas distribution in Colombia, and
electricity generation and gas distribution in Mexico. In Puerto Rico, it is
involved in electricity generation and operates a re-gasification plant; it
also distributes electricity in Nicaragua, and generates and distributes
electricity in Panama. GAS NATURAL FENOSA generates electricity in Costa Rica
and the Dominican Republic and has a portfolio of wind projects in Chile.

Notes to editors

About Actis

Actis invests exclusively in the emerging markets with a growing
portfolio of investments in Asia, Africa and Latin America; it currently has
US$4.6bn funds under management. Combining the expertise of over 100
investment professionals on the ground in nine countries, Actis identifies
investment opportunities in three areas: private equity, energy and real
estate.

In March 2011, Actis was named Latin American Private Equity Fund of the
Year by PEI Magazine. Actis already has a strong presence in Central America
as an investor in power generation developer, Globeleq and wind farm operator
ERM.

Actis is proud to actively and positively grow the value of those
companies in which it invests and in so doing contribute to broader society.

www.act.is

About Gas Natural Fenosa

GAS NATURAL FENOSA is one of the leading multinational companies in the
gas and electricity sector, operating in 25 countries, with more than 20
million customers and 17.3 gigawatts of installed power.

Following the acquisition of the electricity company Union Fenosa, the
third largest in the Spanish market, GAS NATURAL FENOSA has achieved its
objective of integrating its gas and electricity businesses in a single
company with extensive experience in the energy sector and the ability to
compete more efficiently in global energy markets.

Today, GAS NATURAL FENOSA is the largest integrated gas and electricity
company in Spain and Latin America, leading the natural gas sales market in
the Iberian Peninsula; it is the number one distributor of natural gas in
Latin America. With a fleet of 10 methane carriers it is also one of the
biggest operators in the liquefied natural gas ('LNG') market in the world
and is a company of reference in the Atlantic and Mediterranean basins where
it supplies 30 billion cubic metres.

www.gasnaturalfenosa.com

    Media contacts
    Actis
    Claire Davies (London)
    +44(0)20-7234-5115 cdavies@act.is
    Margarita Mendoza Yaquian, Porter Novelli (Guatemala)
    +502-2388 5100 margaritam@caporternovelli.com

    Gas Natural Fenosa
    Laura Sabate (Barcelona) Mass Media Relations Manager +34-93-402-5688
    Susanna Gonzalez (Barcelona) Corporate Press Office +34-93-402-9131 /
    +34-93-402-9365 prensa@gasnaturalfenosa.com

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