Interest in Income Fund

Centrica PLC
03 January 2003



3 January 2003



Centrica reduces its interest in Income Fund

Centrica plc confirmed today that, following its announcement of 9 December, the
underwriting syndicate of the Consumers' Waterheater Income Fund, on 31 December
2002, exercised its over-allotment option in full to purchase 3.75 million
additional units. As a result, Enbridge Services Inc has reduced its retained
interest in the Fund from 49.5% to 41.9% and received net proceeds of C$35.5
million (£14 million), in addition to the net proceeds of C$709 (£289m),
previously announced.



Enquiries:

Centrica Investor Relations:     01753 494900

Centrica Media Relations:          01753 494085



Notes to investors and editors:

 1. At close of business on 31 December 2002, Centrica's 41.9% stake was valued
    at C$218 million (£86 million).



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