BWG Bristol Wtr. Gp

RNS Number:8100B
Ecofin Water & Power Opps PLC
21 April 2006

           Ecofin Water & Power accepts offer for Bristol Water Group



Ecofin Water & Power Opportunities plc ("Ecofin Water & Power" or the "Trust"),
a UK investment trust which owns approximately 22.6% of Bristol Water Group plc
("Bristol Water"), has given an undertaking to accept a cash offer for Bristol
Water announced today by Societe Generale on behalf of Sociedad General de Aguas
de Barcelona, S.A. ("Agbar").



The offer will be #10.60 in cash for each Bristol Water share and values Bristol
Water's issued share capital at approximately #165 million.  Ecofin Water &
Power owns 3,519,486 shares of Bristol Water which have a value of #37,306,551
at the offer price.  Shareholders in Bristol Water will also be entitled to
receive a special interim dividend of 22.5 pence per share in lieu of the final
Bristol Water dividend that would have been paid for the 52 weeks ended 31st
March, 2006.



Ecofin Water & Power purchased its stake in Bristol Water from Vivendi (now
Veolia) in February 2002 when Ecofin Water & Power was launched through a
placing with institutional investors.  At 31st March, 2006, Bristol Water was
Ecofin Water & Power's second largest investment, accounting for approximately
7.6% of the Trust's investment portfolio.



Commenting on the offer for Bristol Water, Bernard Lambilliotte, Chief
Investment Officer of Ecofin Limited, the Investment Manager of Ecofin Water &
Power, said:



"We have worked closely with Bristol Water to create value for shareholders
since purchasing our stake in the company in 2002 and our investment in Bristol
has been a very successful one for Ecofin Water & Power and its shareholders.
We are pleased that Agbar has recognized the value of Bristol Water's business
and are confident that Bristol Water will benefit from being owned by a company
of Agbar's resources and standing.  We have enjoyed our association with Bristol
Water and wish the company and those who work for the company well."





Notes to Editors



Ecofin Water & Power Opportunities plc is a UK investment trust whose Income
Shares, Capital Shares and Ordinary Shares are listed on the London Stock
Exchange.  The Trust invests in the equity and equity-related securities of
utility companies, principally in the UK, the Euro-zone and in the United
States.



Since its launch in February 2002, Ecofin Water & Power's net assets have
increased (on an unaudited basis) by 120.1% to 31st March, 2006, after adjusting
for a capital increase completed in June 2005.  This growth is after paying
dividends totalling #20.2 million to the Trust's Income and Ordinary
Shareholders and paying all of the Trust's expenses including interest on its
bank debt and investment management fees.  In the Trust's fiscal year ended 31st
March, 2006, the Trust's net assets rose by 57.8% on an unaudited basis
following gains of 47.8% in fiscal 2005 and 50.6% in fiscal 2004.





About Ecofin



Ecofin is an investment and advisory firm, founded in 1992, which specialises in
the global utility and infrastructure sectors.  The firm is based in London with
offices in New York and provides discretionary fund management services and
advice to institutional and corporate clients.



Ecofin manages two quoted funds, Ecofin Water & Power plc, a UK investment trust
whose shares are listed on the London Stock Exchange, and Ecofin Global
Utilities Hedge Fund Limited, a long/short equity fund whose shares are listed
on the Irish Stock Exchange.



Ecofin is an independent firm owned by its principals and private investors.
The firm's principal operating company, Ecofin Limited, is an English company
which is authorised and regulated by the UK Financial Services Authority and is
registered with the US Securities and Exchange Commission as an investment
adviser.



Contacts



Bernard Lambilliotte                        Joe Mangion
Chief Investment Officer                    Managing Director
Ecofin Limited                              Ecofin Limited
+44(0)207 451 2929                          +44(0)207 451 2929


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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