JACKSONVILLE, FL, December 28, 2001 — JEA, the largest municipal electric, water and sewer utility in Florida, and United Water, one of the largest water services company in the United States, today completed the sale of United Water’s regulated properties in Florida to JEA for $219 million. JEA and United Water also formed a 20-year public-private partnership for United Water to operate some of the facilities JEA acquired through this purchase.

Michael Hightower, chairman of JEA’s Board of Directors, said, “The completion of this sale means that beginning today, more than 30,000 First Coast families will spend less money for high quality water and sewer services. The typical previous United Water customer who uses an average amount of water (900 cubic feet or 6,732 gallons) each month will see their bills go down about 25 percent. Since JEA provides electric service to most of these customers, they can pass on savings through lower rates, long-term rate stability and the convenience of getting all three utilities from the same provider.

“The public-private partnership agreement benefits all stakeholders,” said Patrick Verschelde, chairman and chief executive officer of Ondeo Services, the parent company of United Water. “Customers will enjoy low, stable rates thanks to the consolidation of water and wastewater systems. The employees have comparable positions either with JEA or within the United Water organization. And United Water creates value through the sale and long-term operations and maintenance agreement with JEA.”

JEA will consolidate facilities and assume all responsibilities for the water and sewer systems. United Water will continue to provide operation and maintenance service at the Monterrey sewer treatment plant in Duval County and at water and sewer facilities in St. Johns and Nassau counties.

United Water, one of the largest water services companies in the U.S., provides water and wastewater service to more than 7.5 million people. The company is a wholly owned subsidiary of Ondeo Services, the world’s leader in water and wastewater management services, serving more than 115 million people in over 130 countries. Ondeo is part of the Suez Group (NYSE:SZE).

JEA is the eighth largest municipal electric utility in the United States providing electric, water and sewer services to more than 750,000 accounts in Northeast Florida.