Re Joint Venture

    Embargoed: 0700hrs, 20 October 2006

                          Energy Asset Management Plc                          

                             Joint Venture Company                             

Energy Asset Management Plc, which, through its wholly owned subsidiary, Energy
Assets Limited ("EAL") offers meter asset management services to industrial and
commercial users of gas and electricity, announces the establishment of a new
joint venture company owned between EAL (55%) and Blyth Construction Utilities
Limited (45%). The joint venture will be called EA Siteworks Services Limited
("EA Siteworks") and will operate as EAL's siteworks manager.

Blyth Construction Utilities Limited is a well established and registered UIP
(utility infrastructure provider) designing and installing gas pipelines from
the parent main to the meter.

EA Siteworks will manage and coordinate the bulk of the on-site operational
aspects of EAL's business, such as installation and maintenance, which until
now EAL has subcontracted to third parties.

Colin Lynch, whilst continuing as a director of Blyth Construction Utilities
Limited, will head up the new joint venture. Mr Lynch has over 25 years
experience in the gas industry and a wealth of contacts on the energy
supply-side.

Alan McKeating, Managing Director, commented,

"The expectation of orders is such that it is now beneficial for EAL to take on
the operational work ourselves and the skills and knowledge of our new partners
in EA Siteworks will make this a very effective joint venture."

For further information please contact,

Energy Asset Management Plc

Alan McKeating, Managing Director

Tel. [phone]

Hansard Group

Ben Simons

Tel. [phone]

Gavin Burnell

Ruegg & Co.

Tel. [phone]



END