Acquisition

Centrica PLC
17 December 2002

17 December 2002

Centrica acquires offshore gas asset

Centrica plc today announced it has reached agreement with BG Group to acquire
the remaining 60 per cent interest in the Rose Field (North Sea Block 47/15b) in
return for a 1.5 per cent interest in the Armada Field and a cash payment of
£7.32 million. Centrica acquired its current 40 per cent interest from Amerada
Hess in January 2002.

The Rose Field is currently scheduled for development with likely recoverable
gas reserves of 88 bcf. Centrica expects to invest around £50 million to bring
supplies on stream in 2004. Subject to regulatory approval, the transaction will
see Centrica become operator of the field.

Jake Ulrich, Managing Director of Centrica Energy Management Group said: 'This
transaction is an excellent fit with our upstream assets strategy. It is a
development asset that suits our portfolio requirements and allows us
operational flexibility in meeting our customer needs.'


Enquiries:

Centrica Media Relations:    01753 494085

Centrica Investor Relations: 01753 494900

BG Group Media Relations:    0118 929 2597

BG Group Investor Relations: 0118 929 3025


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