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P.O. Box 4569

Atlanta, GA 30302-4569

USA

Phone

404.584.4000

Company Information

Company Information
Industry	Natural Gas Distribution/Utilities

# of Employees	2369

Ownership	Public Company

SIC Code	4939

Company Security Requirements	1. Very High

Company Storage Requirements	1. Very High

Fortune 1000 Rank	717

Description

AGL Resources Inc. is an energy services holding company whose principal business is the distribution of natural gas in Georgia, Virginia and Tennessee. The Company conducts substantially all its operations through its three operating segments: distribution operations, wholesale services and energy investments. Distribution operations include six utilities that together serve approximately 2.2 million customers in Florida, Georgia, Maryland, New Jersey, Tennessee and Virginia. The wholesale services segment includes the Company's non-utility business engaged in natural gas asset management and optimization, producer services and wholesale marketing, and risk management activities. The energy investments segment includes the Company's non-utility businesses engaged in retail natural gas and propane marketing, and operating telecommunications conduit and fiber infrastructure within select metropolitan areas. In November 2004, the Company acquired NUI Corporation.

Top Executives

Executive Name	Title
Evans, Andrew	Chief Financial Officer, Executive Vice President
Gillis, James	President
Grams, Dana	President
Linginfelter, Hank	Executive Vice President
Linginfelter, Henry	Executive Vice President - Utility Operations
Madden, Kevin	Executive Vice President - External Affairs
Platt, Melanie	SVP Of Human Resources; President Of Agl Resources Foundation
Rosput, Paula	President And CEO; Chairman Of Atlanta Gas Light Company
Rozgonyi, Eugene	Vice President And Chief Risk Officer
Schantz, Douglas	President Of Sequent Energy Management, Lp
Shlanta, Paul	EVP, General Counsel, Chief Ethics And Compliance Officer
Somerhalder, John	Chairman Of The Board, President, Chief Executive Officer,

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Recent Company Events

Date	Type of Event	Details
2008-02-07	Earnings/Dividends	AGL Resources Inc. today reported fiscal 2007 net income of $211 million, or $2.74 per basic share ($2.72 per diluted share), compared to $212 million, or $2.73 per basic share ($2.72 per diluted share) reported for the prior year. The $1 million decrease in net income resulted from lower operating margins in the wholesale services business, driven by lower volatility in the natural gas market during the year. These lower results were offset partially by increased earnings contributions from the distribution operations, retail energy operations and energy investments segments. The $0.01 per basic share improvement in earnings per share (EPS) reflects a reduction in the average number of shares outstanding as a result of the company's share repurchase program. "Each of our business units performed well throughout the year from an operations standpoint," said John W. Somerhalder II, AGL Resources' chairman, president and chief executive officer. "However, the lack of volatility in the natural gas market during the year resulted in our wholesale services' margins being lower than we anticipated. The lower wholesale results were substantially offset by strong performances year over year in each of our other three operating segments." 2007 RESULTS BY BUSINESS SEGMENT Distribution Operations The distribution operations segment's earnings before interest and taxes (EBIT) increased $28 million to $338 million in 2007. The increase reflects a $13 million increase in operating margin that resulted primarily from the net addition of 21,000 new customers in 2007, a 0.9 percent growth rate for the year as compared to 2006. A $2 million increase in base rates at Chattanooga Gas and a $2 million increase in Atlanta Gas Light pipeline replacement revenues also contributed to the increase in operating margin. Operating expenses decreased $14 million compared with the prior year. The primary drivers of the lower operating expenses were decreased incentive compensation related to earnings results below our expectations; lower health care and pension expense; lower outside service expense; and a reduction in customer service expense. These decreases were offset partially by higher depreciation expense in 2007 and higher gains on asset sales recorded in 2006 as compared to 2007. The distribution operations segment continued to improve its performance as measured by its key operating metrics. On an EBIT per customer basis, the segment improved to $149 for 2007, compared with $138 in 2006. Operation and maintenance expenses per customer declined to $145 in 2007, as compared to $156 in 2006. Retail Energy Operations The retail energy operations segment, consisting of SouthStar Energy Services, contributed EBIT of $83 million in 2007, compared to $63 million in 2006. Operating margin increased $32 million, reflecting higher average customer usage, an increase in the average customer count (approximately 7,000 additional customers or a 1.3 percent increase), higher late payment fees and additional margin from entry into the Ohio market. Operating margin also was positively impacted by the combination of higher retail price spreads and contributions from the optimization of storage and transportation assets and commodity risk management activities. In addition, retail energy operations was required to record a lower of cost or market (LOCOM) adjustment of $6 million in 2006 to reduce its weighted average inventory cost to market value. The segment was not required to record a similar adjustment in 2007, resulting in an increase in operating margin as compared to the prior year. Operating expenses increased $7 million, reflecting higher payroll and incentive compensation costs, increased customer care and marketing costs and higher depreciation expense. The higher expenses were offset partially by lower bad debt expense in 2007 as compared to the prior year. Minority interest increased $7 million as

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