The National Gas Transmission Company, TRANSGAZ SA Medias, was admitted to trading on the regulated market managed by Bucharest Stock Exchange following the IPO process taking place during November 26th – December 7th, 2007 under GD no. 1329/2004, amended by GD no. 708/2005. TRANSGAZ is the second utility company of the Romanian state’s portfolio, publicly offering shares up to 10% of its increased capital, i.e. 1,177,384 shares, in order to meet the objectives mentioned in the programme “A strong market – capital market development”.

TRANSGAZ’ business profile, the status of natural monopoly, the role played on the energy market and more precisely on the gas market or its robust financial profile are only some of the company’s assets in terms of attractiveness and credibility to investors, eventually leading to the most successful IPO of the Romanian capital market.

TRANSGAZ’ IPO was a breakthrough, mainly due to the highest value of the shares offered for sale, i.e. of Lei 226 million (approx. EURO 65 million) and to the greatest share demand in the history of Romania, such offering being oversubscribed more than 28 times and the first IPO of the Bucharest Stock Exchange history which had a new financial instrument attached thereto and referred to as “allocation rights”. The trading on the Bucharest Stock Exchange of the allocation rights attached to the newly issued shares, under TGNRO1 symbol, started on December 19th, 2007 and closed on January 18th, 2008, respectively 3 days before actual share trading date. Such share trading commenced on January 24th, 2008 and is in progress under category I and TGN symbol.

As a result of the IPO, TRANSGAZ share capital increased by the value of the 1,384,956 shares, of which 207,572 were shares subscribed to the SC Fondul Proprietatea SA for preference right exertion, while the rest of 1,177,384 shares were publicly offered.

The increase in the share capital was approved by the Board of Administration based on the delegation of responsibilities by the General Assembly of the Shareholders under Article 14, paragraph 5, case (c) of the updated Incorporation Document and registered with the Commercial Register. The Romanian National Securities Commission issued Security Registration Certificate no. 3371, dated January 9th, 2008.

The trading on Bucharest Stock Exchange of TRANSGAZ shares is an open window to the company’s shareholders and capital market related institutions. TRANSGAZ shall ensure a legal and transparent communication framework and shall provide all shareholders with nondiscriminatory access to actual, fair and sufficient data under legal reporting requirements and terms, in due time.
The information required by investors and shareholders, under the laws and regulations in effect, shall be conveyed to the capital market related institutions, to the Romanian National Securities Commission and to Bucharest Stock Exchange and published on the company’s website.