Centrica reduces its interest in Income Fund

Centrica plc confirmed today that, following its announcement of 9 December, the underwriting syndicate of the Consumers’ Waterheater Income Fund, on 31 December 2002, exercised its over-allotment option in full to purchase 3.75 million additional units. As a result, Enbridge Services Inc has reduced its retained interest in the Fund from 49.5% to 41.9% and received net proceeds of C$35.5 million (£14 million), in addition to the net proceeds of C$709 (£289m), previously announced. Enquiries: Centrica Investor Relations: 01753 494900 Centrica Media Relations: 01753 494085 Notes to investors and editors: 1. At close of business on 31 December 2002, Centrica’s 41.9% stake was valued at C$218 million (£86 million).