-     Leading Independent Gas Transporter (IGT) and Independent Distribution Network Operator
      (IDNO) in the United Kindgom

-     Provides 'last mile' of gas, electricity, water and fibre connections to new dwellings

-     80.4% owned by CIF

-     Acquired in August 2005

Inexus is the leading independent gas transporter in the United Kingdom, providing services to approximately 18 gas shippers. Its business involves the design, construction, ownership and maintenance of independent gas and electricity networks throughout the mainland in the United Kingdom. It recently expanded its offering to include water and fibre cables, making it the only independent operator to offer all utilities to developers.

Inexus' revenue is derived primarily from the ownership of the 'last mile' of gas pipes, electricity cables, water pipes and fibre-optic cables that connect the utility distribution networks to the residential (or retail) customers. As revenue is based on an 'availability charge,' Inexus has no exposure to the volume of gas used by the retail customer and the income is based on what is known as a daily tariff.