ST. LOUIS, Sept. 1 /PRNewswire-FirstCall/ -- Laclede Gas Company reached
an agreement today to purchase the natural gas distribution system of Fidelity
Natural Gas, Inc., located in Sullivan, Missouri.
Approximately 1,300 natural gas customers being served by Fidelity Natural
Gas, a wholly owned subsidiary of Fidelity Communications Co., would become
customers of Missouri Natural Gas, an operating division of Laclede Gas. The
sale is contingent on approval of the Missouri Public Service Commission, as
well as other conditions.
Sullivan is located in southwestern Franklin County and is geographically
contiguous with other parts of Franklin County that have been served by
Missouri Natural Gas since 1992.
"This acquisition is a natural extension of our distribution system and we
look forward to welcoming our new customers in Sullivan as part of the largest
natural gas company in Missouri," said Douglas H. Yaeger, Chairman, President
and Chief Executive Officer of Laclede.
Fidelity has been offering natural as service since 1992. This sale will
allow Fidelity to concentrate on its core communication business.
"We were pleased to bring this important energy resource to Sullivan
several years ago and provide the high level of customer-oriented service our
phone, cable and Internet customers are accustomed to," said Fidelity Senior
Vice President John Colbert. "We feel confident that Laclede will continue
Laclede Gas, a subsidiary of The Laclede Group (NYSE: LG), is the largest
gas distribution company in Missouri, serving more than 630,000 natural gas
customers in St. Louis and surrounding counties in Eastern Missouri.
Note: This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The
Company's future operating results may be affected by various uncertainties
and risk factors, many of which are beyond the Company's control, including
weather conditions, governmental and regulatory policy and action, the
competitive environment and economic factors. For a more complete description
of these uncertainties and risk factors, see the Company's Form 10-Q for the
quarter ended June 30, 2005, filed with the Securities and Exchange
SOURCE Laclede Gas Company