New contract with East Lothian Developments Ltd

For immediate release 7 April 2016

Energy Assets Group plc

("Energy Assets" or the "Group")

New contract with East Lothian Developments Ltd

St Clements Well, Wallyford, East Lothian

Energy Assets Group plc (LSE: EAS.L), the largest independent provider of industrial and commercial (I&C) gas metering services in the UK(1) and a major provider of multi-utility networks, metering and data services, is pleased to announce that it has secured a new contract with East Lothian Developments Ltd (ELDL) to provide utility infrastructure for a new development at St Clements Well, Wallyford, East Lothian.

The new contract, which has been signed by recently acquired subsidiary Blyth Utilities Ltd (Blyth), encompasses the provision of gas, water and electricity infrastructure for the development which will include approximately 1,450 mixed residential units along with offices, retail and supermarket units and a primary school.

With a contract value of £6m over the complete project term, this is the largest Utility Networks contract to ever be secured by Energy Assets and reaffirms the Group's strategy to provide a complete multi-utility infrastructure offering across gas, electricity and water. 

Russell Gibson, Chief Operating Officer of Energy Assets, commented:

"We are delighted that Blyth has been selected by ELDL to partner as the Multi-Utility Infrastructure Provider for this exciting new development. The award of this contract underpins the growth aspirations we have for Blyth as part of the Energy Assets Group and is testimony to the expertise and uniquely differentiated offering within our expanded business. This is an exciting period for our new Utility Networks team and, with a new Energy Assets Utilities (EAU) identity and branding being launched in April 2016, we are confident of continued success from the team."

Martin Quinn, Director of ELDL, commented:

"We are delighted to be working with the Energy Assets Group, alongside I & H Brown Ltd who are delivering the on-site road and civil infrastructure for the development. This is a strategically important site and the high quality infrastructure, which is to be provided by our two partners will allow further development throughout the East Lothian area."

Enquiries

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Notes to Editors:

Energy Assets provides metering and related services in the I&C segment of the UK utility market and is the largest independent provider of I&C gas metering services in the UK, by number of assets owned and managed. The Group offers utility suppliers and end-user consumers of energy a broad spectrum of metering services from the provision and management of new and replacement meters through its Meter Asset Management (MAM)/Meter Operator (MOP) divisions to the procurement and project management of related utility infrastructure works and the collection and provision of energy consumption data through the Group's Siteworks and Automated Meter Reading (AMR) divisions.

Energy Assets (EAS) is listed on the Main Market of the London Stock Exchange.