EAM Energy Asset

    Embargoed: 0700hrs, 5 January 2007

                          Energy Asset Management Plc                          

                                (the "Company")                                

                   Trading Update & Announcement of Contract                   

Trading Update

Since the acquisition by the Company in March of last year of Energy Assets
Limited ("EAL"), which specialises in the provision of meter asset management
and data provision services to energy suppliers and industrial and commercial
users of gas and electricity, EAL has successfully installed it's information
technology systems and obtained the necessary regulatory and other approvals to
allow the servicing of contracts. As a consequence of this period of investment
the Company will report a loss for the year ended 31 December 2006. EAL has in
addition successfully completed systems enabling the remote meter reading by
SMS and GPRS technology, a service which is now being demanded by energy
suppliers and consumer groups across the country.

In October of 2006 the Company announced the formation of a joint venture
company, EA Siteworks Services Limited, with a registered utility
infrastructure provider to design and install gas pipelines from the parent
main to the meter. EAL is now able to provide a complete installation and
project management service to both gas suppliers and consumers, such as
multiple-site retailers, local authorities and health authorities.

Announcement of Contract

To this end the Company is pleased to announce that, following successful
trials with Woolworths, EAL has been awarded the contract to provide half
hourly electricity consumption data from approximately 700 Woolworth stores,
including the management, supply and installation of SMS enabled non half hour
electricity meters. Installations are due to begin in March. Woolworths are
currently considering a similar solution for its gas meters and a trial with
EAL is likely to commence for Woolworths in a number of stores later in the
year.

Managing Director, Alan McKeating, stated,

"The signing of agreements with clients of Woolworths' size demonstrates that
the business is in a very strong position to continue winning further similar
contracts and significant effort is now being focussed on progressing current
discussions and completing agreements with customers for new business.

I look forward to announcing further contract wins regularly throughout the
year."

For further information please contact,

Energy Asset Management Plc

Stephen Barclay, Chairman

Tel. 07767 444 114

Alan McKeating, Managing Director

Tel. 07843 231 372

Hansard Group

Ben Simons

Tel. 020 7245 1100



END

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