GDF Suez has reported sales revenues of EUR83.1 billion for 2008, up 16.6%, compared with the sales revenues of EUR71.2 billion in the previous year.

This growth confirms the relevance and strength of GDF SUEZ’s development model. All the business lines and geographical areas have made positive contributions to this performance, with the following main drivers:

— Continued development in Europe and internationally, on gas and electricity;

— Background of high and volatile prices on the energy markets over 2008;

— Sustained commercial development on energy services activities;

— Continued investments in infrastructures;

— Growth in business at SUEZ ENVIRONNEMENT.

In fourth quarter (Q4) 2008, the group’s sales revenue was up by 14% on Q4 2007. This progression is to be compared with an increase of 18% over the first nine months of the year, reflecting the less favorable conditions seen for certain business lines over the last quarter than in the first nine months.

The group’s pro forma EBITDA for 2008 will be in line with the target announced. As published with the sales revenue figures for the first nine months of the year, the group’s operational performance (EBITDA) over the fourth quarter was marked by:

— The sharp drop in prices for petroleum products during the last few months of 2008;

–The slowdown in LNG arbitrage operations around the world due to lower demand for gas in Asia;

— The non-transfer of natural gas supply costs in regulated tariffs in France; the gross increase in sales revenue amounted to EUR11.8 billion:

— Organic growth (EUR12.074 billion);

— Change in Group structure (EUR747 million), with:

First-time consolidations (EUR1.8 billion), primarily on Energy Europe and International for EUR1.1 billion (acquisition of Teesside, change of method for recognizing Italcogim Energie’s marketing activities in Italy and acquisition of the electricity trading company Elettrogreen in Italy), SUEZ ENVIRONNEMENT for EUR337 million and Energy Services for EUR319 million (acquisition of six cogeneration plants in Italy with a total capacity of 370 MW).

Disposals (-EUR1.03 billion), primarily concerning SUEZ ENVIRONNEMENT for -EUR388 million (essentially sale of Applus), Energy Europe and International for -EUR377 million (recognition of Gasag using the equity method as of January 1, 2008, sale of Calidda in Peru and Chehalis in the US) and Energy Services for -EUR262 million (sale of Cofathec ADF in France).

— Exchange rate fluctuations (-EUR997 million, with -EUR364 million euros on USD and -EUR515 million on GBP), particularly within Energy Europe and International (- EUR623 million) and SUEZ ENVIRONNEMENT (-EUR254 million).

The group generated 92% of its sales revenue in Europe and North America, with 86% in Europe.

In 2008, the Energy France business line generated EUR14.5 billion in sales revenue, up by 16.9% on 2007.

Based on average weather conditions, sales revenue growth over the period came out at 12%.

The gross increase results for 75% the hike in energy prices, in line with the very sharp increase in supply costs.

The increase in volumes sold, notably due to the more favorable weather conditions in 2008, contributed around 20% to the sales revenue growth achieved by the business line.

The remaining balance factors in first-time consolidations, combined with the Group’s development on wind power and home services. On this last segment, GDF SUEZ accelerated its development over 2008; in this way, the Group now has 10% of the French market for photovoltaic solutions for individual homes.

Natural gas sales totalled 294 TWh, 1.6% higher than in 2007. GDF SUEZ has maintained a market share of around 95% for retail customers and around 85% for business customers, with these two markets opened to competition since 2007 and 2004 respectively.

Electricity sales were up by 12% to 32 TWh, with performance levels varying depending on the customer segments: growth on the retail and wholesale markets, but a downturn for industrial customers due to more difficult pricing conditions. Since July 2007, the Group has signed nearly 400,000 new contracts with retail customers.

Combined with the contracts signed with professional customers, GDF SUEZ is managing close to 600,000 electricity contracts in France. Furthermore, the business line’s power production increased by 4.5% over the year reflecting the combined impact of the following two elements:

Improvement in production by the hydroelectric facilities and the DK6 gas combined cycle plant in Dunkirk;

— Increase in wind production, through organic growth or the integration of the companies acquired in 2007 and 2008 (Compagnie du Vent, Nass & Wind – now Eole Generation, Erelia, Great and Eolienne de la Haute-Lys).

In 2008, the Benedelux Division recorded 14 156 million euros in sales revenue, representing a gross increase of 18.9% compared with 2007 and 22.2% organic growth.

Changes in the Group structure (-EUR317 million) concern the change in the method for consolidating Gasag, the gas distribution subsidiary in Germany, which has been consolidated on an equity basis since January 1, 2008 (previously proportionately consolidated).

Electricity sales across the division came to EUR9.6 billion at the end of 2008, compared with EUR8.11 billion at the end of 2007, representing 18.8% organic growth.

In Belgium and Luxembourg (Belux), electricity sales are up by 16.9% in relation to 2007, reflecting the change in electricity market prices, significantly influenced by the hike in fossil fuel prices. Sales prices in Belgium also reflect the increased level of transmission and distribution prices (4.8% in 2008), although these elements have not had any impact on the margin. The volumes sold in Belgium and Luxembourg are down -4% (74.1 TWh in 2008, compared with 77.2 TWh in 2007), notably factoring in the drop in sales to distributors in Belgium and the impact of the economic slowdown seen over the last quarter of 2008.

Electricity sales in the Netherlands and Germany are up by 21.3% compared with 2007, resulting from both the impact of the change in prices and the increase in volumes sold, particularly in the Netherlands (4.8% with 23.3 TWh sold in 2008).

Gas sales totalled 3 414 million euros at the end of 2008, compared with 2 764 million euros at the end of 2007, representing 39.5% organic growth and benefiting primarily from the change in gas prices and the more favorable weather conditions than in 2007. Nevertheless, the volumes sold are down for the region (1.6 TWh, i.e.2.1%), primarily on sales to industrial customers in the Netherlands, while Belgium and Germany sold higher volumes than in 2007.

Sales of other services – notably transfer-costing on services for inter-district organizations in Belgium’s Walloon Region – came to EUR1.1 billion at the end of 2008, compared with EUR1.034 billion euros at the end of 2007.

In 2008, the Europe Division generated EUR8.75 billion in sales revenue, representing a gross increase of 32.4% in relation to 2007.

This growth notably reflects the change in the group’s structure, with the acquisition of the Teesside gas combined cycle plant in the UK (EUR407 million), as well as the acquisition of the marketing and optimization firm Elettrogreen (EUR106 million) and the increase in the stake in Italcogim Energie3 (EUR366 million) in Italy.

The division’s strong organic growth (23.8%) has been driven by the following elements:

— Increase in market prices throughout the region, with its effects moderated to some extent by gas supply costs not being passed on in full in countries where a regulated pricing system is still in force;

— Development of the installed electrical production capacity in Italy;

— Significant growth in power production in Spain, due to favorable climatic, hydroelectric and market conditions (3.2 TWh).