On 25 March 2008 AGL Energy Limited (AGL) announced that it had entered into an
agreement to sell its wholly owned Chilean gas distribution business (GasValpo) and
related entities for $US90 million.

AGL advises that it has now completed the sale. Net proceeds of approximately
$US74 million received in Australia were hedged at an average exchange rate of 90.7
cents.

Paul McWilliams
Company Secretary